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和黄医药（HCM）与MACOM Technology Solutions Holdings, Inc.（MTSI）财务数据对比。点击上方公司名可切换其他公司
MACOM Technology Solutions Holdings, Inc.的季度营收约是和黄医药的1.1倍（$289.0M vs $270.8M），MACOM Technology Solutions Holdings, Inc.净利率更高（16.0% vs 0.7%，领先15.3%），MACOM Technology Solutions Holdings, Inc.同比增速更快（22.5% vs -16.5%）
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。
MACOM是美国知名的射频、微波及毫米波半导体器件与组件研发生产商，总部位于马萨诸塞州洛厄尔，2005年曾是当地规模最大的私营雇主。公司已通过ISO9001国际质量体系认证及ISO14001环境管理体系认证，在北美、欧洲、亚洲及澳大利亚均设有设计中心与销售办事处。
HCM vs MTSI — 直观对比
营收规模更大
MTSI
是对方的1.1倍
$270.8M
营收增速更快
MTSI
高出39.0%
-16.5%
净利率更高
MTSI
高出15.3%
0.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $270.8M | $289.0M |
| 净利润 | $2.0M | $46.3M |
| 毛利率 | 37.7% | 56.9% |
| 营业利润率 | -13.2% | 17.6% |
| 净利率 | 0.7% | 16.0% |
| 营收同比 | -16.5% | 22.5% |
| 净利润同比 | -83.6% | 46.3% |
| 每股收益（稀释后） | $0.00 | $0.60 |
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HCMMTSI
| Q2 26 | — | $289.0M | ||
| Q1 26 | — | $271.6M | ||
| Q4 25 | $270.8M | $261.2M | ||
| Q3 25 | — | $252.1M | ||
| Q2 25 | $277.7M | $235.9M | ||
| Q1 25 | $324.5M | $218.1M | ||
| Q3 24 | — | $200.7M | ||
| Q2 24 | $305.7M | $190.5M |
净利润HCMMTSI
| Q2 26 | — | $46.3M | ||
| Q1 26 | — | $48.8M | ||
| Q4 25 | $2.0M | $45.1M | ||
| Q3 25 | — | $36.5M | ||
| Q2 25 | $455.0M | $31.7M | ||
| Q1 25 | $11.9M | $-167.5M | ||
| Q3 24 | — | $29.4M | ||
| Q2 24 | $25.8M | $19.9M |
毛利率HCMMTSI
| Q2 26 | — | 56.9% | ||
| Q1 26 | — | 55.9% | ||
| Q4 25 | 37.7% | 54.5% | ||
| Q3 25 | — | 55.3% | ||
| Q2 25 | 0.1% | 55.2% | ||
| Q1 25 | 48.0% | 53.7% | ||
| Q3 24 | — | 54.7% | ||
| Q2 24 | 41.1% | 53.2% |
营业利润率HCMMTSI
| Q2 26 | — | 17.6% | ||
| Q1 26 | — | 15.9% | ||
| Q4 25 | -13.2% | 15.2% | ||
| Q3 25 | — | 14.9% | ||
| Q2 25 | -1.3% | 14.8% | ||
| Q1 25 | -5.0% | 8.0% | ||
| Q3 24 | — | 13.7% | ||
| Q2 24 | -9.0% | 10.4% |
净利率HCMMTSI
| Q2 26 | — | 16.0% | ||
| Q1 26 | — | 18.0% | ||
| Q4 25 | 0.7% | 17.3% | ||
| Q3 25 | — | 14.5% | ||
| Q2 25 | 163.8% | 13.4% | ||
| Q1 25 | 3.7% | -76.8% | ||
| Q3 24 | — | 14.7% | ||
| Q2 24 | 8.4% | 10.5% |
每股收益（稀释后）HCMMTSI
| Q2 26 | — | $0.60 | ||
| Q1 26 | — | $0.64 | ||
| Q4 25 | $0.00 | $0.67 | ||
| Q3 25 | — | $0.48 | ||
| Q2 25 | $0.52 | $0.42 | ||
| Q1 25 | $0.01 | $-2.30 | ||
| Q3 24 | — | $0.40 | ||
| Q2 24 | $0.03 | $0.27 |
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 | $664.9M |
| 总债务越低越好 | $93.2M | $0 |
| 股东权益账面价值 | $1.2B | — |
| 总资产 | $1.8B | $2.0B |
| 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HCMMTSI
| Q2 26 | — | $664.9M | ||
| Q1 26 | — | $768.5M | ||
| Q4 25 | $1.4B | $786.0M | ||
| Q3 25 | — | $735.2M | ||
| Q2 25 | $1.4B | $681.5M | ||
| Q1 25 | $836.1M | $656.5M | ||
| Q3 24 | — | $581.9M | ||
| Q2 24 | $802.5M | $521.5M |
总债务HCMMTSI
| Q2 26 | — | $0 | ||
| Q1 26 | — | — | ||
| Q4 25 | $93.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $93.4M | — | ||
| Q1 25 | $82.8M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $82.1M | — |
股东权益HCMMTSI
| Q2 26 | — | — | ||
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.2B | $1.3B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $759.9M | $1.2B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | $740.1M | $1.1B |
总资产HCMMTSI
| Q2 26 | — | $2.0B | ||
| Q1 26 | — | $2.1B | ||
| Q4 25 | $1.8B | $2.1B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | $1.8B | $1.9B | ||
| Q1 25 | $1.3B | $1.8B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | $1.3B | $1.7B |
负债/权益比HCMMTSI
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.08× | — | ||
| Q1 25 | 0.11× | — | ||
| 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 | $121.6M |
| 自由现金流经营现金流 - 资本支出 | $3.4M | — |
| 自由现金流率自由现金流/营收 | 1.2% | — |
| 资本支出强度资本支出/营收 | 1.8% | — |
| 现金转化率经营现金流/净利润 | 4.21× | 2.62× |
| 过去12个月自由现金流最近4个季度 | $-96.2M | — |
8季度趋势，按日历期对齐
经营现金流HCMMTSI
| Q2 26 | — | $121.6M | ||
| Q1 26 | — | $42.9M | ||
| Q4 25 | $8.2M | $69.6M | ||
| Q3 25 | — | $60.4M | ||
| Q2 25 | $-72.9M | $38.7M | ||
| Q1 25 | $40.3M | $66.7M | ||
| Q3 24 | — | $62.3M | ||
| Q2 24 | $-39.8M | $49.0M |
自由现金流HCMMTSI
| Q2 26 | — | — | ||
| Q1 26 | — | $30.0M | ||
| Q4 25 | $3.4M | $49.4M | ||
| Q3 25 | — | $51.6M | ||
| Q2 25 | $-82.2M | $30.5M | ||
| Q1 25 | $32.5M | $61.3M | ||
| Q3 24 | — | $57.1M | ||
| Q2 24 | $-49.9M | $41.5M |
自由现金流率HCMMTSI
| Q2 26 | — | — | ||
| Q1 26 | — | 11.0% | ||
| Q4 25 | 1.2% | 18.9% | ||
| Q3 25 | — | 20.5% | ||
| Q2 25 | -29.6% | 12.9% | ||
| Q1 25 | 10.0% | 28.1% | ||
| Q3 24 | — | 28.5% | ||
| Q2 24 | -16.3% | 21.8% |
资本支出强度HCMMTSI
| Q2 26 | — | — | ||
| Q1 26 | — | 4.8% | ||
| Q4 25 | 1.8% | 7.7% | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | 3.3% | 3.5% | ||
| Q1 25 | 2.4% | 2.4% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | 3.3% | 3.9% |
现金转化率HCMMTSI
| Q2 26 | — | 2.62× | ||
| Q1 26 | — | 0.88× | ||
| Q4 25 | 4.21× | 1.54× | ||
| Q3 25 | — | 1.65× | ||
| Q2 25 | -0.16× | 1.22× | ||
| Q1 25 | 3.38× | — | ||
| Q3 24 | — | 2.12× | ||
| Q2 24 | -1.54× | 2.46× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
