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和黄医药（HCM）与福尼克斯（PLAB）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福尼克斯的1.3倍（$270.8M vs $210.4M），福尼克斯净利率更高（10.9% vs 0.7%，领先10.2%），福尼克斯同比增速更快（-5.5% vs -16.5%），福尼克斯自由现金流更多（$25.2M 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。
福尼克斯是美国半导体光掩模制造商，2009年时位居全球第三大光掩模供应商，同时也是电子束产业倡议组织的成员，专注于为半导体行业提供关键的掩模产品，支撑芯片制造环节的图形转移需求。
HCM vs PLAB — 直观对比
营收规模更大
HCM
是对方的1.3倍
$210.4M
营收增速更快
PLAB
高出11.0%
-16.5%
净利率更高
PLAB
高出10.2%
0.7%
自由现金流更多
PLAB
多$21.9M
$3.4M
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $270.8M | $210.4M |
| 净利润 | $2.0M | $22.9M |
| 毛利率 | 37.7% | 33.7% |
| 营业利润率 | -13.2% | 22.9% |
| 净利率 | 0.7% | 10.9% |
| 营收同比 | -16.5% | -5.5% |
| 净利润同比 | -83.6% | -32.4% |
| 每股收益（稀释后） | $0.00 | $0.39 |
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HCMPLAB
| Q4 25 | $270.8M | — | ||
| Q3 25 | — | $210.4M | ||
| Q2 25 | $277.7M | $211.0M | ||
| Q1 25 | $324.5M | $212.1M | ||
| Q4 24 | — | $222.6M | ||
| Q3 24 | — | $211.0M | ||
| Q2 24 | $305.7M | $217.0M | ||
| Q1 24 | — | $216.3M |
净利润HCMPLAB
| Q4 25 | $2.0M | — | ||
| Q3 25 | — | $22.9M | ||
| Q2 25 | $455.0M | $8.9M | ||
| Q1 25 | $11.9M | $42.9M | ||
| Q4 24 | — | $33.9M | ||
| Q3 24 | — | $34.4M | ||
| Q2 24 | $25.8M | $36.3M | ||
| Q1 24 | — | $26.2M |
毛利率HCMPLAB
| Q4 25 | 37.7% | — | ||
| Q3 25 | — | 33.7% | ||
| Q2 25 | 0.1% | 36.9% | ||
| Q1 25 | 48.0% | 35.6% | ||
| Q4 24 | — | 37.0% | ||
| Q3 24 | — | 35.6% | ||
| Q2 24 | 41.1% | 36.5% | ||
| Q1 24 | — | 36.6% |
营业利润率HCMPLAB
| Q4 25 | -13.2% | — | ||
| Q3 25 | — | 22.9% | ||
| Q2 25 | -1.3% | 26.4% | ||
| Q1 25 | -5.0% | 24.6% | ||
| Q4 24 | — | 25.1% | ||
| Q3 24 | — | 24.7% | ||
| Q2 24 | -9.0% | 25.8% | ||
| Q1 24 | — | 26.6% |
净利率HCMPLAB
| Q4 25 | 0.7% | — | ||
| Q3 25 | — | 10.9% | ||
| Q2 25 | 163.8% | 4.2% | ||
| Q1 25 | 3.7% | 20.2% | ||
| Q4 24 | — | 15.2% | ||
| Q3 24 | — | 16.3% | ||
| Q2 24 | 8.4% | 16.7% | ||
| Q1 24 | — | 12.1% |
每股收益（稀释后）HCMPLAB
| Q4 25 | $0.00 | — | ||
| Q3 25 | — | $0.39 | ||
| Q2 25 | $0.52 | $0.15 | ||
| Q1 25 | $0.01 | $0.68 | ||
| Q4 24 | — | $0.54 | ||
| Q3 24 | — | $0.55 | ||
| Q2 24 | $0.03 | $0.58 | ||
| Q1 24 | — | $0.42 |
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 | $575.8M |
| 总债务越低越好 | $93.2M | $16.0K |
| 股东权益账面价值 | $1.2B | $1.1B |
| 总资产 | $1.8B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资HCMPLAB
| Q4 25 | $1.4B | — | ||
| Q3 25 | — | $575.8M | ||
| Q2 25 | $1.4B | $558.4M | ||
| Q1 25 | $836.1M | $642.2M | ||
| Q4 24 | — | $640.7M | ||
| Q3 24 | — | $606.4M | ||
| Q2 24 | $802.5M | $559.9M | ||
| Q1 24 | — | $521.5M |
总债务HCMPLAB
| Q4 25 | $93.2M | — | ||
| Q3 25 | — | $16.0K | ||
| Q2 25 | $93.4M | $19.0K | ||
| Q1 25 | $82.8M | $21.0K | ||
| Q4 24 | — | $25.0K | ||
| Q3 24 | — | $28.0K | ||
| Q2 24 | $82.1M | $2.5M | ||
| Q1 24 | — | $2.7M |
股东权益HCMPLAB
| Q4 25 | $1.2B | — | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $759.9M | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | $740.1M | $1.0B | ||
| Q1 24 | — | $1.0B |
总资产HCMPLAB
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | $1.8B | $1.7B | ||
| Q1 25 | $1.3B | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | $1.3B | $1.6B | ||
| Q1 24 | — | $1.6B |
负债/权益比HCMPLAB
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | 0.08× | 0.00× | ||
| Q1 25 | 0.11× | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | 0.11× | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $50.1M |
| 自由现金流经营现金流 - 资本支出 | $3.4M | $25.2M |
| 自由现金流率自由现金流/营收 | 1.2% | 12.0% |
| 资本支出强度资本支出/营收 | 1.8% | 11.8% |
| 现金转化率经营现金流/净利润 | 4.21× | 2.19× |
| 过去12个月自由现金流最近4个季度 | $-96.2M | $64.5M |
8季度趋势，按日历期对齐
经营现金流HCMPLAB
| Q4 25 | $8.2M | — | ||
| Q3 25 | — | $50.1M | ||
| Q2 25 | $-72.9M | $31.5M | ||
| Q1 25 | $40.3M | $78.5M | ||
| Q4 24 | — | $68.4M | ||
| Q3 24 | — | $75.1M | ||
| Q2 24 | $-39.8M | $76.5M | ||
| Q1 24 | — | $41.5M |
自由现金流HCMPLAB
| Q4 25 | $3.4M | — | ||
| Q3 25 | — | $25.2M | ||
| Q2 25 | $-82.2M | $-29.1M | ||
| Q1 25 | $32.5M | $43.3M | ||
| Q4 24 | — | $25.2M | ||
| Q3 24 | — | $50.7M | ||
| Q2 24 | $-49.9M | $56.5M | ||
| Q1 24 | — | $-1.8M |
自由现金流率HCMPLAB
| Q4 25 | 1.2% | — | ||
| Q3 25 | — | 12.0% | ||
| Q2 25 | -29.6% | -13.8% | ||
| Q1 25 | 10.0% | 20.4% | ||
| Q4 24 | — | 11.3% | ||
| Q3 24 | — | 24.0% | ||
| Q2 24 | -16.3% | 26.0% | ||
| Q1 24 | — | -0.8% |
资本支出强度HCMPLAB
| Q4 25 | 1.8% | — | ||
| Q3 25 | — | 11.8% | ||
| Q2 25 | 3.3% | 28.7% | ||
| Q1 25 | 2.4% | 16.6% | ||
| Q4 24 | — | 19.4% | ||
| Q3 24 | — | 11.6% | ||
| Q2 24 | 3.3% | 9.2% | ||
| Q1 24 | — | 20.0% |
现金转化率HCMPLAB
| Q4 25 | 4.21× | — | ||
| Q3 25 | — | 2.19× | ||
| Q2 25 | -0.16× | 3.55× | ||
| Q1 25 | 3.38× | 1.83× | ||
| Q4 24 | — | 2.02× | ||
| Q3 24 | — | 2.18× | ||
| Q2 24 | -1.54× | 2.11× | ||
| Q1 24 | — | 1.59× |
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
PLAB
| High End Integrated Circuits | $53.6M | 25% |
| High End Flat Panel Displays | $53.5M | 25% |
| KR | $43.7M | 21% |
| Other | $42.1M | 20% |
| Mainstream Flat Panel Displays | $9.1M | 4% |
| Transferred At Point In Time | $8.4M | 4% |
