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和黄医药（HCM）与MARCUS CORP（MCS）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MARCUS CORP的1.4倍（$270.8M vs $193.5M），MARCUS CORP同比增速更快（2.8% vs -16.5%），MARCUS CORP自由现金流更多（$26.4M 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。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
HCM vs MCS — 直观对比
营收规模更大
HCM
是对方的1.4倍
$193.5M
营收增速更快
MCS
高出19.3%
-16.5%
自由现金流更多
MCS
多$23.0M
$3.4M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $270.8M | $193.5M |
| 净利润 | $2.0M | — |
| 毛利率 | 37.7% | — |
| 营业利润率 | -13.2% | 0.9% |
| 净利率 | 0.7% | — |
| 营收同比 | -16.5% | 2.8% |
| 净利润同比 | -83.6% | — |
| 每股收益（稀释后） | $0.00 | — |
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HCMMCS
| Q4 25 | $270.8M | $193.5M | ||
| Q3 25 | — | $210.2M | ||
| Q2 25 | $277.7M | $206.0M | ||
| Q1 25 | $324.5M | $148.8M | ||
| Q4 24 | — | $188.3M | ||
| Q3 24 | — | $232.7M | ||
| Q2 24 | $305.7M | $176.0M | ||
| Q1 24 | — | $138.5M |
净利润HCMMCS
| Q4 25 | $2.0M | — | ||
| Q3 25 | — | $16.2M | ||
| Q2 25 | $455.0M | $7.3M | ||
| Q1 25 | $11.9M | $-16.8M | ||
| Q4 24 | — | $986.0K | ||
| Q3 24 | — | $23.3M | ||
| Q2 24 | $25.8M | $-20.2M | ||
| Q1 24 | — | $-11.9M |
毛利率HCMMCS
| Q4 25 | 37.7% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 48.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 41.1% | — | ||
| Q1 24 | — | — |
营业利润率HCMMCS
| Q4 25 | -13.2% | 0.9% | ||
| Q3 25 | — | 10.8% | ||
| Q2 25 | -1.3% | 6.3% | ||
| Q1 25 | -5.0% | -13.7% | ||
| Q4 24 | — | -1.2% | ||
| Q3 24 | — | 14.1% | ||
| Q2 24 | -9.0% | 1.3% | ||
| Q1 24 | — | -12.0% |
净利率HCMMCS
| Q4 25 | 0.7% | — | ||
| Q3 25 | — | 7.7% | ||
| Q2 25 | 163.8% | 3.6% | ||
| Q1 25 | 3.7% | -11.3% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 10.0% | ||
| Q2 24 | 8.4% | -11.5% | ||
| Q1 24 | — | -8.6% |
每股收益（稀释后）HCMMCS
| Q4 25 | $0.00 | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $0.52 | — | ||
| Q1 25 | $0.01 | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $0.03 | — | ||
| Q1 24 | — | — |
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 | $23.4M |
| 总债务越低越好 | $93.2M | $159.0M |
| 股东权益账面价值 | $1.2B | $457.4M |
| 总资产 | $1.8B | $1.0B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资HCMMCS
| Q4 25 | $1.4B | $23.4M | ||
| Q3 25 | — | $7.4M | ||
| Q2 25 | $1.4B | $14.9M | ||
| Q1 25 | $836.1M | $11.9M | ||
| Q4 24 | — | $40.8M | ||
| Q3 24 | — | $28.4M | ||
| Q2 24 | $802.5M | $32.8M | ||
| Q1 24 | — | $17.3M |
总债务HCMMCS
| Q4 25 | $93.2M | $159.0M | ||
| Q3 25 | — | $162.0M | ||
| Q2 25 | $93.4M | $179.9M | ||
| Q1 25 | $82.8M | $198.9M | ||
| Q4 24 | — | $159.1M | ||
| Q3 24 | — | $173.1M | ||
| Q2 24 | $82.1M | $175.7M | ||
| Q1 24 | — | $169.8M |
股东权益HCMMCS
| Q4 25 | $1.2B | $457.4M | ||
| Q3 25 | — | $454.3M | ||
| Q2 25 | $1.2B | $448.4M | ||
| Q1 25 | $759.9M | $441.8M | ||
| Q4 24 | — | $464.9M | ||
| Q3 24 | — | $462.3M | ||
| Q2 24 | $740.1M | $449.4M | ||
| Q1 24 | — | $459.3M |
总资产HCMMCS
| Q4 25 | $1.8B | $1.0B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | $1.8B | $1.0B | ||
| Q1 25 | $1.3B | $1.0B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | $1.3B | $1.1B | ||
| Q1 24 | — | $1.0B |
负债/权益比HCMMCS
| Q4 25 | 0.08× | 0.35× | ||
| Q3 25 | — | 0.36× | ||
| Q2 25 | 0.08× | 0.40× | ||
| Q1 25 | 0.11× | 0.45× | ||
| Q4 24 | — | 0.34× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | 0.11× | 0.39× | ||
| Q1 24 | — | 0.37× |
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 | $48.8M |
| 自由现金流经营现金流 - 资本支出 | $3.4M | $26.4M |
| 自由现金流率自由现金流/营收 | 1.2% | 13.6% |
| 资本支出强度资本支出/营收 | 1.8% | 11.6% |
| 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 | $989.0K |
8季度趋势，按日历期对齐
经营现金流HCMMCS
| Q4 25 | $8.2M | $48.8M | ||
| Q3 25 | — | $39.1M | ||
| Q2 25 | $-72.9M | $31.6M | ||
| Q1 25 | $40.3M | $-35.3M | ||
| Q4 24 | — | $52.6M | ||
| Q3 24 | — | $30.5M | ||
| Q2 24 | $-39.8M | $36.0M | ||
| Q1 24 | — | $-15.1M |
自由现金流HCMMCS
| Q4 25 | $3.4M | $26.4M | ||
| Q3 25 | — | $18.2M | ||
| Q2 25 | $-82.2M | $14.7M | ||
| Q1 25 | $32.5M | $-58.3M | ||
| Q4 24 | — | $27.1M | ||
| Q3 24 | — | $12.0M | ||
| Q2 24 | $-49.9M | $16.1M | ||
| Q1 24 | — | $-30.5M |
自由现金流率HCMMCS
| Q4 25 | 1.2% | 13.6% | ||
| Q3 25 | — | 8.7% | ||
| Q2 25 | -29.6% | 7.1% | ||
| Q1 25 | 10.0% | -39.2% | ||
| Q4 24 | — | 14.4% | ||
| Q3 24 | — | 5.2% | ||
| Q2 24 | -16.3% | 9.2% | ||
| Q1 24 | — | -22.0% |
资本支出强度HCMMCS
| Q4 25 | 1.8% | 11.6% | ||
| Q3 25 | — | 9.9% | ||
| Q2 25 | 3.3% | 8.2% | ||
| Q1 25 | 2.4% | 15.5% | ||
| Q4 24 | — | 13.5% | ||
| Q3 24 | — | 7.9% | ||
| Q2 24 | 3.3% | 11.3% | ||
| Q1 24 | — | 11.1% |
现金转化率HCMMCS
| Q4 25 | 4.21× | — | ||
| Q3 25 | — | 2.41× | ||
| Q2 25 | -0.16× | 4.32× | ||
| Q1 25 | 3.38× | — | ||
| Q4 24 | — | 53.31× | ||
| Q3 24 | — | 1.31× | ||
| Q2 24 | -1.54× | — | ||
| Q1 24 | — | — |
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
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
