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和黄医药（HCM）与Piedmont Realty Trust, Inc.（PDM）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Piedmont Realty Trust, Inc.的1.9倍（$270.8M vs $143.3M），和黄医药净利率更高（0.7% vs -31.4%，领先32.1%），Piedmont Realty Trust, Inc.同比增速更快（0.4% 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。
Piedmont Realty Trust是一家公开上市的房地产投资信托（REIT），主要持有、运营和投资美国高增长大都会区的优质写字楼资产，服务科技、专业服务、医疗等多个行业的企业租户，通过战略资产管理和投资组合优化为利益相关方提供稳定长期回报。
HCM vs PDM — 直观对比
营收规模更大
HCM
是对方的1.9倍
$143.3M
营收增速更快
PDM
高出17.0%
-16.5%
净利率更高
HCM
高出32.1%
-31.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $270.8M | $143.3M |
| 净利润 | $2.0M | $-45.0M |
| 毛利率 | 37.7% | — |
| 营业利润率 | -13.2% | — |
| 净利率 | 0.7% | -31.4% |
| 营收同比 | -16.5% | 0.4% |
| 净利润同比 | -83.6% | -27.9% |
| 每股收益（稀释后） | $0.00 | $-0.10 |
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HCMPDM
| Q1 26 | — | $143.3M | ||
| Q4 25 | $270.8M | $142.9M | ||
| Q3 25 | — | $139.2M | ||
| Q2 25 | $277.7M | $140.3M | ||
| Q1 25 | $324.5M | $142.7M | ||
| Q4 24 | — | $143.2M | ||
| Q3 24 | — | $139.3M | ||
| Q2 24 | $305.7M | $143.3M |
净利润HCMPDM
| Q1 26 | — | $-45.0M | ||
| Q4 25 | $2.0M | $-43.2M | ||
| Q3 25 | — | $-13.5M | ||
| Q2 25 | $455.0M | $-16.8M | ||
| Q1 25 | $11.9M | $-10.1M | ||
| Q4 24 | — | $-30.0M | ||
| Q3 24 | — | $-11.5M | ||
| Q2 24 | $25.8M | $-9.8M |
毛利率HCMPDM
| Q1 26 | — | — | ||
| Q4 25 | 37.7% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 48.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 41.1% | — |
营业利润率HCMPDM
| Q1 26 | — | — | ||
| Q4 25 | -13.2% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -1.3% | — | ||
| Q1 25 | -5.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -9.0% | — |
净利率HCMPDM
| Q1 26 | — | -31.4% | ||
| Q4 25 | 0.7% | -30.3% | ||
| Q3 25 | — | -9.7% | ||
| Q2 25 | 163.8% | -12.0% | ||
| Q1 25 | 3.7% | -7.1% | ||
| Q4 24 | — | -20.9% | ||
| Q3 24 | — | -8.3% | ||
| Q2 24 | 8.4% | -6.8% |
每股收益（稀释后）HCMPDM
| Q1 26 | — | $-0.10 | ||
| Q4 25 | $0.00 | $-0.34 | ||
| Q3 25 | — | $-0.11 | ||
| Q2 25 | $0.52 | $-0.14 | ||
| Q1 25 | $0.01 | $-0.08 | ||
| Q4 24 | — | $-0.25 | ||
| Q3 24 | — | $-0.09 | ||
| Q2 24 | $0.03 | $-0.08 |
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 | $2.3M |
| 总债务越低越好 | $93.2M | — |
| 股东权益账面价值 | $1.2B | $1.5B |
| 总资产 | $1.8B | $4.0B |
| 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HCMPDM
| Q1 26 | — | $2.3M | ||
| Q4 25 | $1.4B | $731.0K | ||
| Q3 25 | — | $3.0M | ||
| Q2 25 | $1.4B | $3.3M | ||
| Q1 25 | $836.1M | $2.9M | ||
| Q4 24 | — | $109.6M | ||
| Q3 24 | — | $133.6M | ||
| Q2 24 | $802.5M | $138.5M |
总债务HCMPDM
| Q1 26 | — | — | ||
| Q4 25 | $93.2M | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | $93.4M | $2.2B | ||
| Q1 25 | $82.8M | $2.2B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | $82.1M | $2.2B |
股东权益HCMPDM
| Q1 26 | — | $1.5B | ||
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $759.9M | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | $740.1M | $1.7B |
总资产HCMPDM
| Q1 26 | — | $4.0B | ||
| Q4 25 | $1.8B | $4.0B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | $1.8B | $4.0B | ||
| Q1 25 | $1.3B | $4.0B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | $1.3B | $4.2B |
负债/权益比HCMPDM
| Q1 26 | — | — | ||
| Q4 25 | 0.08× | 1.49× | ||
| Q3 25 | — | 1.43× | ||
| Q2 25 | 0.08× | 1.41× | ||
| Q1 25 | 0.11× | 1.40× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | 0.11× | 1.34× |
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 | — |
| 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% | 110.3% |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流HCMPDM
| Q1 26 | — | — | ||
| Q4 25 | $8.2M | $140.6M | ||
| Q3 25 | — | $35.8M | ||
| Q2 25 | $-72.9M | $50.1M | ||
| Q1 25 | $40.3M | $3.7M | ||
| Q4 24 | — | $198.1M | ||
| Q3 24 | — | $42.9M | ||
| Q2 24 | $-39.8M | $66.8M |
自由现金流HCMPDM
| Q1 26 | — | — | ||
| Q4 25 | $3.4M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-82.2M | — | ||
| Q1 25 | $32.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-49.9M | — |
自由现金流率HCMPDM
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -29.6% | — | ||
| Q1 25 | 10.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -16.3% | — |
资本支出强度HCMPDM
| Q1 26 | — | 110.3% | ||
| Q4 25 | 1.8% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.3% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 3.3% | — |
现金转化率HCMPDM
| Q1 26 | — | — | ||
| Q4 25 | 4.21× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.16× | — | ||
| Q1 25 | 3.38× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.54× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
