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和黄医药（HCM）与莱迪思半导体（LSCC）财务数据对比。点击上方公司名可切换其他公司
和黄医药的季度营收约是莱迪思半导体的1.9倍（$270.8M vs $145.8M），和黄医药净利率更高（0.7% vs -5.2%，领先6.0%），莱迪思半导体同比增速更快（24.2% vs -16.5%），莱迪思半导体自由现金流更多（$44.0M 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。
莱迪思半导体是美国专注于低功耗现场可编程门阵列（FPGA）设计制造的半导体企业，1983年成立，1989年上市，总部位于俄勒冈州希尔斯伯勒硅林区，在圣何塞、上海、马尼拉、槟城、新加坡等地设有运营网点，截至2022年员工超1000人，年营收超6.6亿美元。
HCM vs LSCC — 直观对比
营收规模更大
HCM
是对方的1.9倍
$145.8M
营收增速更快
LSCC
高出40.7%
-16.5%
净利率更高
HCM
高出6.0%
-5.2%
自由现金流更多
LSCC
多$40.6M
$3.4M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $270.8M | $145.8M |
| 净利润 | $2.0M | $-7.6M |
| 毛利率 | 37.7% | 68.5% |
| 营业利润率 | -13.2% | 0.7% |
| 净利率 | 0.7% | -5.2% |
| 营收同比 | -16.5% | 24.2% |
| 净利润同比 | -83.6% | -146.3% |
| 每股收益（稀释后） | $0.00 | $-0.06 |
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HCMLSCC
| Q1 26 | — | $145.8M | ||
| Q4 25 | $270.8M | — | ||
| Q3 25 | — | $133.3M | ||
| Q2 25 | $277.7M | $124.0M | ||
| Q1 25 | $324.5M | $120.2M | ||
| Q4 24 | — | $117.4M | ||
| Q3 24 | — | $127.1M | ||
| Q2 24 | $305.7M | $124.1M |
净利润HCMLSCC
| Q1 26 | — | $-7.6M | ||
| Q4 25 | $2.0M | — | ||
| Q3 25 | — | $2.8M | ||
| Q2 25 | $455.0M | $2.9M | ||
| Q1 25 | $11.9M | $5.0M | ||
| Q4 24 | — | $16.5M | ||
| Q3 24 | — | $7.2M | ||
| Q2 24 | $25.8M | $22.6M |
毛利率HCMLSCC
| Q1 26 | — | 68.5% | ||
| Q4 25 | 37.7% | — | ||
| Q3 25 | — | 67.9% | ||
| Q2 25 | 0.1% | 68.4% | ||
| Q1 25 | 48.0% | 68.0% | ||
| Q4 24 | — | 61.1% | ||
| Q3 24 | — | 69.0% | ||
| Q2 24 | 41.1% | 68.3% |
营业利润率HCMLSCC
| Q1 26 | — | 0.7% | ||
| Q4 25 | -13.2% | — | ||
| Q3 25 | — | -1.2% | ||
| Q2 25 | -1.3% | 3.8% | ||
| Q1 25 | -5.0% | 5.8% | ||
| Q4 24 | — | -10.4% | ||
| Q3 24 | — | 5.9% | ||
| Q2 24 | -9.0% | 18.2% |
净利率HCMLSCC
| Q1 26 | — | -5.2% | ||
| Q4 25 | 0.7% | — | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | 163.8% | 2.3% | ||
| Q1 25 | 3.7% | 4.2% | ||
| Q4 24 | — | 14.1% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | 8.4% | 18.2% |
每股收益（稀释后）HCMLSCC
| Q1 26 | — | $-0.06 | ||
| Q4 25 | $0.00 | — | ||
| Q3 25 | — | $0.02 | ||
| Q2 25 | $0.52 | $0.02 | ||
| Q1 25 | $0.01 | $0.04 | ||
| Q4 24 | — | $0.12 | ||
| Q3 24 | — | $0.05 | ||
| Q2 24 | $0.03 | $0.16 |
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 | $133.9M |
| 总债务越低越好 | $93.2M | — |
| 股东权益账面价值 | $1.2B | $714.1M |
| 总资产 | $1.8B | $883.1M |
| 负债/权益比越低杠杆越低 | 0.08× | — |
8季度趋势，按日历期对齐
现金及短期投资HCMLSCC
| Q1 26 | — | $133.9M | ||
| Q4 25 | $1.4B | — | ||
| Q3 25 | — | $117.9M | ||
| Q2 25 | $1.4B | $107.2M | ||
| Q1 25 | $836.1M | $127.6M | ||
| Q4 24 | — | $136.3M | ||
| Q3 24 | — | $124.3M | ||
| Q2 24 | $802.5M | $109.2M |
总债务HCMLSCC
| Q1 26 | — | — | ||
| Q4 25 | $93.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $93.4M | — | ||
| Q1 25 | $82.8M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $82.1M | — |
股东权益HCMLSCC
| Q1 26 | — | $714.1M | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | — | $706.4M | ||
| Q2 25 | $1.2B | $687.0M | ||
| Q1 25 | $759.9M | $707.9M | ||
| Q4 24 | — | $710.9M | ||
| Q3 24 | — | $703.5M | ||
| Q2 24 | $740.1M | $698.8M |
总资产HCMLSCC
| Q1 26 | — | $883.1M | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | $844.4M | ||
| Q2 25 | $1.8B | $808.6M | ||
| Q1 25 | $1.3B | $823.6M | ||
| Q4 24 | — | $843.9M | ||
| Q3 24 | — | $853.7M | ||
| Q2 24 | $1.3B | $827.5M |
负债/权益比HCMLSCC
| Q1 26 | — | — | ||
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.08× | — | ||
| Q1 25 | 0.11× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.11× | — |
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 | $57.6M |
| 自由现金流经营现金流 - 资本支出 | $3.4M | $44.0M |
| 自由现金流率自由现金流/营收 | 1.2% | 30.2% |
| 资本支出强度资本支出/营收 | 1.8% | 9.3% |
| 现金转化率经营现金流/净利润 | 4.21× | — |
| 过去12个月自由现金流最近4个季度 | $-96.2M | $132.6M |
8季度趋势，按日历期对齐
经营现金流HCMLSCC
| Q1 26 | — | $57.6M | ||
| Q4 25 | $8.2M | — | ||
| Q3 25 | — | $47.1M | ||
| Q2 25 | $-72.9M | $38.5M | ||
| Q1 25 | $40.3M | $31.9M | ||
| Q4 24 | — | $45.4M | ||
| Q3 24 | — | $44.0M | ||
| Q2 24 | $-39.8M | $21.9M |
自由现金流HCMLSCC
| Q1 26 | — | $44.0M | ||
| Q4 25 | $3.4M | — | ||
| Q3 25 | — | $34.0M | ||
| Q2 25 | $-82.2M | $31.3M | ||
| Q1 25 | $32.5M | $23.3M | ||
| Q4 24 | — | $39.7M | ||
| Q3 24 | — | $39.4M | ||
| Q2 24 | $-49.9M | $14.8M |
自由现金流率HCMLSCC
| Q1 26 | — | 30.2% | ||
| Q4 25 | 1.2% | — | ||
| Q3 25 | — | 25.5% | ||
| Q2 25 | -29.6% | 25.2% | ||
| Q1 25 | 10.0% | 19.4% | ||
| Q4 24 | — | 33.8% | ||
| Q3 24 | — | 31.0% | ||
| Q2 24 | -16.3% | 11.9% |
资本支出强度HCMLSCC
| Q1 26 | — | 9.3% | ||
| Q4 25 | 1.8% | — | ||
| Q3 25 | — | 9.8% | ||
| Q2 25 | 3.3% | 5.8% | ||
| Q1 25 | 2.4% | 7.2% | ||
| Q4 24 | — | 4.9% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | 3.3% | 5.8% |
现金转化率HCMLSCC
| Q1 26 | — | — | ||
| Q4 25 | 4.21× | — | ||
| Q3 25 | — | 16.86× | ||
| Q2 25 | -0.16× | 13.23× | ||
| Q1 25 | 3.38× | 6.35× | ||
| Q4 24 | — | 2.75× | ||
| Q3 24 | — | 6.12× | ||
| Q2 24 | -1.54× | 0.97× |
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
LSCC
| Asia | $106.3M | 73% |
| Americas | $21.0M | 14% |
| Europe | $18.5M | 13% |
