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和黄医药（HCM）与PREFORMED LINE PRODUCTS CO（PLPC）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PREFORMED LINE PRODUCTS CO的1.6倍（$270.8M vs $173.1M），PREFORMED LINE PRODUCTS CO净利率更高（4.9% vs 0.7%，领先4.2%），PREFORMED LINE PRODUCTS CO同比增速更快（3.6% vs -16.5%），PREFORMED LINE PRODUCTS CO自由现金流更多（$11.8M 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。
预成型线路产品公司（PLPC）研发、生产和销售适用于输配电、通信及可再生能源基建领域的工程硬件组件，服务全球多地的公用事业、网络运营商及工业客户，提供可提升网络可靠性与运营效率的解决方案。
HCM vs PLPC — 直观对比
营收规模更大
HCM
是对方的1.6倍
$173.1M
营收增速更快
PLPC
高出20.1%
-16.5%
净利率更高
PLPC
高出4.2%
0.7%
自由现金流更多
PLPC
多$8.4M
$3.4M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $270.8M | $173.1M |
| 净利润 | $2.0M | $8.4M |
| 毛利率 | 37.7% | 29.8% |
| 营业利润率 | -13.2% | 6.8% |
| 净利率 | 0.7% | 4.9% |
| 营收同比 | -16.5% | 3.6% |
| 净利润同比 | -83.6% | -19.3% |
| 每股收益（稀释后） | $0.00 | $1.72 |
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HCMPLPC
| Q4 25 | $270.8M | $173.1M | ||
| Q3 25 | — | $178.1M | ||
| Q2 25 | $277.7M | $169.6M | ||
| Q1 25 | $324.5M | $148.5M | ||
| Q4 24 | — | $167.1M | ||
| Q3 24 | — | $147.0M | ||
| Q2 24 | $305.7M | $138.7M | ||
| Q1 24 | — | $140.9M |
净利润HCMPLPC
| Q4 25 | $2.0M | $8.4M | ||
| Q3 25 | — | $2.6M | ||
| Q2 25 | $455.0M | $12.7M | ||
| Q1 25 | $11.9M | $11.5M | ||
| Q4 24 | — | $10.5M | ||
| Q3 24 | — | $7.7M | ||
| Q2 24 | $25.8M | $9.4M | ||
| Q1 24 | — | $9.6M |
毛利率HCMPLPC
| Q4 25 | 37.7% | 29.8% | ||
| Q3 25 | — | 29.7% | ||
| Q2 25 | 0.1% | 32.7% | ||
| Q1 25 | 48.0% | 32.8% | ||
| Q4 24 | — | 33.3% | ||
| Q3 24 | — | 31.1% | ||
| Q2 24 | 41.1% | 31.9% | ||
| Q1 24 | — | 31.3% |
营业利润率HCMPLPC
| Q4 25 | -13.2% | 6.8% | ||
| Q3 25 | — | 7.4% | ||
| Q2 25 | -1.3% | 10.1% | ||
| Q1 25 | -5.0% | 8.8% | ||
| Q4 24 | — | 10.5% | ||
| Q3 24 | — | 7.1% | ||
| Q2 24 | -9.0% | 8.1% | ||
| Q1 24 | — | 8.2% |
净利率HCMPLPC
| Q4 25 | 0.7% | 4.9% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | 163.8% | 7.5% | ||
| Q1 25 | 3.7% | 7.8% | ||
| Q4 24 | — | 6.3% | ||
| Q3 24 | — | 5.2% | ||
| Q2 24 | 8.4% | 6.8% | ||
| Q1 24 | — | 6.8% |
每股收益（稀释后）HCMPLPC
| Q4 25 | $0.00 | $1.72 | ||
| Q3 25 | — | $0.53 | ||
| Q2 25 | $0.52 | $2.56 | ||
| Q1 25 | $0.01 | $2.33 | ||
| Q4 24 | — | $2.13 | ||
| Q3 24 | — | $1.54 | ||
| Q2 24 | $0.03 | $1.89 | ||
| Q1 24 | — | $1.94 |
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 | — |
| 总债务越低越好 | $93.2M | $38.3M |
| 股东权益账面价值 | $1.2B | $475.5M |
| 总资产 | $1.8B | $653.6M |
| 负债/权益比越低杠杆越低 | 0.08× | 0.08× |
8季度趋势，按日历期对齐
现金及短期投资HCMPLPC
| Q4 25 | $1.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $836.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $802.5M | — | ||
| Q1 24 | — | — |
总债务HCMPLPC
| Q4 25 | $93.2M | $38.3M | ||
| Q3 25 | — | $36.0M | ||
| Q2 25 | $93.4M | $31.8M | ||
| Q1 25 | $82.8M | $29.1M | ||
| Q4 24 | — | $20.8M | ||
| Q3 24 | — | $27.2M | ||
| Q2 24 | $82.1M | $31.6M | ||
| Q1 24 | — | $55.0M |
股东权益HCMPLPC
| Q4 25 | $1.2B | $475.5M | ||
| Q3 25 | — | $466.3M | ||
| Q2 25 | $1.2B | $460.7M | ||
| Q1 25 | $759.9M | $435.8M | ||
| Q4 24 | — | $422.3M | ||
| Q3 24 | — | $429.0M | ||
| Q2 24 | $740.1M | $416.2M | ||
| Q1 24 | — | $413.4M |
总资产HCMPLPC
| Q4 25 | $1.8B | $653.6M | ||
| Q3 25 | — | $644.6M | ||
| Q2 25 | $1.8B | $631.5M | ||
| Q1 25 | $1.3B | $592.5M | ||
| Q4 24 | — | $573.9M | ||
| Q3 24 | — | $592.0M | ||
| Q2 24 | $1.3B | $572.6M | ||
| Q1 24 | — | $586.1M |
负债/权益比HCMPLPC
| Q4 25 | 0.08× | 0.08× | ||
| Q3 25 | — | 0.08× | ||
| Q2 25 | 0.08× | 0.07× | ||
| Q1 25 | 0.11× | 0.07× | ||
| Q4 24 | — | 0.05× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | 0.11× | 0.08× | ||
| Q1 24 | — | 0.13× |
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 | $21.9M |
| 自由现金流经营现金流 - 资本支出 | $3.4M | $11.8M |
| 自由现金流率自由现金流/营收 | 1.2% | 6.8% |
| 资本支出强度资本支出/营收 | 1.8% | 5.9% |
| 现金转化率经营现金流/净利润 | 4.21× | 2.60× |
| 过去12个月自由现金流最近4个季度 | $-96.2M | $33.3M |
8季度趋势，按日历期对齐
经营现金流HCMPLPC
| Q4 25 | $8.2M | $21.9M | ||
| Q3 25 | — | $18.9M | ||
| Q2 25 | $-72.9M | $26.9M | ||
| Q1 25 | $40.3M | $5.7M | ||
| Q4 24 | — | $24.1M | ||
| Q3 24 | — | $9.4M | ||
| Q2 24 | $-39.8M | $28.3M | ||
| Q1 24 | — | $5.8M |
自由现金流HCMPLPC
| Q4 25 | $3.4M | $11.8M | ||
| Q3 25 | — | $8.3M | ||
| Q2 25 | $-82.2M | $18.6M | ||
| Q1 25 | $32.5M | $-5.3M | ||
| Q4 24 | — | $20.6M | ||
| Q3 24 | — | $5.8M | ||
| Q2 24 | $-49.9M | $24.6M | ||
| Q1 24 | — | $1.8M |
自由现金流率HCMPLPC
| Q4 25 | 1.2% | 6.8% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | -29.6% | 10.9% | ||
| Q1 25 | 10.0% | -3.6% | ||
| Q4 24 | — | 12.3% | ||
| Q3 24 | — | 3.9% | ||
| Q2 24 | -16.3% | 17.7% | ||
| Q1 24 | — | 1.3% |
资本支出强度HCMPLPC
| Q4 25 | 1.8% | 5.9% | ||
| Q3 25 | — | 6.0% | ||
| Q2 25 | 3.3% | 4.9% | ||
| Q1 25 | 2.4% | 7.4% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | 3.3% | 2.7% | ||
| Q1 24 | — | 2.8% |
现金转化率HCMPLPC
| Q4 25 | 4.21× | 2.60× | ||
| Q3 25 | — | 7.21× | ||
| Q2 25 | -0.16× | 2.12× | ||
| Q1 25 | 3.38× | 0.49× | ||
| Q4 24 | — | 2.30× | ||
| Q3 24 | — | 1.22× | ||
| Q2 24 | -1.54× | 3.02× | ||
| Q1 24 | — | 0.60× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
