vs
和黄医药（HCM）与KADANT INC（KAI）财务数据对比。点击上方公司名可切换其他公司
KADANT INC的季度营收约是和黄医药的1.0倍（$271.6M vs $270.8M），KADANT INC净利率更高（10.2% vs 0.7%，领先9.5%），KADANT INC同比增速更快（-0.0% vs -16.5%），KADANT INC自由现金流更多（$44.1M vs $3.4M）
和黄医药是一家国际化生物制药企业，专注于肿瘤、免疫类疾病的靶向疗法与免疫疗法的研发、生产及商业化，核心市场覆盖中国及全球多个国家地区，已有多款肿瘤治疗药物上市，后期临床管线储备丰富。
Kadant Inc.创立于1991年，最初是Thermo Electron的子公司，部分股权私有、部分公开交易，2001年完成完全分拆并启用现名。公司服务于造纸、废纸回收、木材加工、物料搬运等多个加工领域，是业务覆盖亚洲、欧洲、北美、南美的跨国企业。
HCM vs KAI — 直观对比
营收规模更大
KAI
是对方的1.0倍
$270.8M
营收增速更快
KAI
高出16.5%
-16.5%
净利率更高
KAI
高出9.5%
0.7%
自由现金流更多
KAI
多$40.7M
$3.4M
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $270.8M | $271.6M |
| 净利润 | $2.0M | $27.7M |
| 毛利率 | 37.7% | 45.2% |
| 营业利润率 | -13.2% | 15.7% |
| 净利率 | 0.7% | 10.2% |
| 营收同比 | -16.5% | -0.0% |
| 净利润同比 | -83.6% | -12.2% |
| 每股收益（稀释后） | $0.00 | $2.35 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收HCMKAI
| Q4 25 | $270.8M | — | ||
| Q3 25 | — | $271.6M | ||
| Q2 25 | $277.7M | $255.3M | ||
| Q1 25 | $324.5M | $239.2M | ||
| Q4 24 | — | $258.0M | ||
| Q3 24 | — | $271.6M | ||
| Q2 24 | $305.7M | $274.8M | ||
| Q1 24 | — | $249.0M |
净利润HCMKAI
| Q4 25 | $2.0M | — | ||
| Q3 25 | — | $27.7M | ||
| Q2 25 | $455.0M | $26.2M | ||
| Q1 25 | $11.9M | $24.1M | ||
| Q4 24 | — | $24.0M | ||
| Q3 24 | — | $31.6M | ||
| Q2 24 | $25.8M | $31.3M | ||
| Q1 24 | — | $24.7M |
毛利率HCMKAI
| Q4 25 | 37.7% | — | ||
| Q3 25 | — | 45.2% | ||
| Q2 25 | 0.1% | 45.9% | ||
| Q1 25 | 48.0% | 46.1% | ||
| Q4 24 | — | 43.4% | ||
| Q3 24 | — | 44.7% | ||
| Q2 24 | 41.1% | 44.4% | ||
| Q1 24 | — | 44.6% |
营业利润率HCMKAI
| Q4 25 | -13.2% | — | ||
| Q3 25 | — | 15.7% | ||
| Q2 25 | -1.3% | 15.4% | ||
| Q1 25 | -5.0% | 14.9% | ||
| Q4 24 | — | 14.3% | ||
| Q3 24 | — | 18.0% | ||
| Q2 24 | -9.0% | 17.6% | ||
| Q1 24 | — | 14.8% |
净利率HCMKAI
| Q4 25 | 0.7% | — | ||
| Q3 25 | — | 10.2% | ||
| Q2 25 | 163.8% | 10.2% | ||
| Q1 25 | 3.7% | 10.1% | ||
| Q4 24 | — | 9.3% | ||
| Q3 24 | — | 11.6% | ||
| Q2 24 | 8.4% | 11.4% | ||
| Q1 24 | — | 9.9% |
每股收益（稀释后）HCMKAI
| Q4 25 | $0.00 | — | ||
| Q3 25 | — | $2.35 | ||
| Q2 25 | $0.52 | $2.22 | ||
| Q1 25 | $0.01 | $2.04 | ||
| Q4 24 | — | $2.04 | ||
| Q3 24 | — | $2.68 | ||
| Q2 24 | $0.03 | $2.66 | ||
| Q1 24 | — | $2.10 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.4B | $124.5M |
| 总债务越低越好 | $93.2M | $254.6M |
| 股东权益账面价值 | $1.2B | $949.8M |
| 总资产 | $1.8B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.27× |
8季度趋势，按日历期对齐
现金及短期投资HCMKAI
| Q4 25 | $1.4B | — | ||
| Q3 25 | — | $124.5M | ||
| Q2 25 | $1.4B | $95.3M | ||
| Q1 25 | $836.1M | $91.7M | ||
| Q4 24 | — | $94.7M | ||
| Q3 24 | — | $88.4M | ||
| Q2 24 | $802.5M | $73.8M | ||
| Q1 24 | — | $81.4M |
总债务HCMKAI
| Q4 25 | $93.2M | — | ||
| Q3 25 | — | $254.6M | ||
| Q2 25 | $93.4M | $245.7M | ||
| Q1 25 | $82.8M | $273.5M | ||
| Q4 24 | — | $285.2M | ||
| Q3 24 | — | $323.2M | ||
| Q2 24 | $82.1M | $342.0M | ||
| Q1 24 | — | $306.8M |
股东权益HCMKAI
| Q4 25 | $1.2B | — | ||
| Q3 25 | — | $949.8M | ||
| Q2 25 | $1.2B | $926.0M | ||
| Q1 25 | $759.9M | $876.0M | ||
| Q4 24 | — | $847.1M | ||
| Q3 24 | — | $851.7M | ||
| Q2 24 | $740.1M | $807.7M | ||
| Q1 24 | — | $782.7M |
总资产HCMKAI
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $1.8B | $1.5B | ||
| Q1 25 | $1.3B | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | $1.3B | $1.5B | ||
| Q1 24 | — | $1.4B |
负债/权益比HCMKAI
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | 0.08× | 0.27× | ||
| Q1 25 | 0.11× | 0.31× | ||
| Q4 24 | — | 0.34× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | 0.11× | 0.42× | ||
| Q1 24 | — | 0.39× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $8.2M | $47.3M |
| 自由现金流经营现金流 - 资本支出 | $3.4M | $44.1M |
| 自由现金流率自由现金流/营收 | 1.2% | 16.2% |
| 资本支出强度资本支出/营收 | 1.8% | 1.2% |
| 现金转化率经营现金流/净利润 | 4.21× | 1.70× |
| 过去12个月自由现金流最近4个季度 | $-96.2M | $145.9M |
8季度趋势，按日历期对齐
经营现金流HCMKAI
| Q4 25 | $8.2M | — | ||
| Q3 25 | — | $47.3M | ||
| Q2 25 | $-72.9M | $40.5M | ||
| Q1 25 | $40.3M | $22.8M | ||
| Q4 24 | — | $51.9M | ||
| Q3 24 | — | $52.5M | ||
| Q2 24 | $-39.8M | $28.1M | ||
| Q1 24 | — | $22.8M |
自由现金流HCMKAI
| Q4 25 | $3.4M | — | ||
| Q3 25 | — | $44.1M | ||
| Q2 25 | $-82.2M | $36.5M | ||
| Q1 25 | $32.5M | $19.0M | ||
| Q4 24 | — | $46.3M | ||
| Q3 24 | — | $48.3M | ||
| Q2 24 | $-49.9M | $23.1M | ||
| Q1 24 | — | $16.6M |
自由现金流率HCMKAI
| Q4 25 | 1.2% | — | ||
| Q3 25 | — | 16.2% | ||
| Q2 25 | -29.6% | 14.3% | ||
| Q1 25 | 10.0% | 7.9% | ||
| Q4 24 | — | 17.9% | ||
| Q3 24 | — | 17.8% | ||
| Q2 24 | -16.3% | 8.4% | ||
| Q1 24 | — | 6.7% |
资本支出强度HCMKAI
| Q4 25 | 1.8% | — | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | 3.3% | 1.6% | ||
| Q1 25 | 2.4% | 1.6% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | 3.3% | 1.8% | ||
| Q1 24 | — | 2.5% |
现金转化率HCMKAI
| Q4 25 | 4.21× | — | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | -0.16× | 1.55× | ||
| Q1 25 | 3.38× | 0.95× | ||
| Q4 24 | — | 2.16× | ||
| Q3 24 | — | 1.66× | ||
| Q2 24 | -1.54× | 0.90× | ||
| Q1 24 | — | 0.92× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
HCM
暂无分部数据
KAI
| Flow Control | $94.8M | 35% |
| Capital | $83.2M | 31% |
| Material Handling Systems | $70.3M | 26% |
| Transferred Over Time | $17.1M | 6% |
| Other | $6.1M | 2% |
