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和黄医药（HCM）与PROGRESS SOFTWARE CORP（PRGS）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PROGRESS SOFTWARE CORP的1.1倍（$270.8M vs $252.7M），PROGRESS SOFTWARE CORP净利率更高（10.2% vs 0.7%，领先9.5%），PROGRESS SOFTWARE CORP同比增速更快（17.5% vs -16.5%），PROGRESS SOFTWARE CORP自由现金流更多（$59.9M 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。
Progress Software是全球领先的企业级软件服务商，主营应用开发平台、数据连接工具、数字体验解决方案等产品，服务覆盖金融、医疗、制造、零售等多行业的全球企业客户，助力客户搭建高性能可扩展的业务应用，提升运营效率。
HCM vs PRGS — 直观对比
营收规模更大
HCM
是对方的1.1倍
$252.7M
营收增速更快
PRGS
高出34.1%
-16.5%
净利率更高
PRGS
高出9.5%
0.7%
自由现金流更多
PRGS
多$56.6M
$3.4M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $270.8M | $252.7M |
| 净利润 | $2.0M | $25.7M |
| 毛利率 | 37.7% | 81.6% |
| 营业利润率 | -13.2% | 15.2% |
| 净利率 | 0.7% | 10.2% |
| 营收同比 | -16.5% | 17.5% |
| 净利润同比 | -83.6% | 2144.6% |
| 每股收益（稀释后） | $0.00 | $0.59 |
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HCMPRGS
| Q4 25 | $270.8M | $252.7M | ||
| Q3 25 | — | $249.8M | ||
| Q2 25 | $277.7M | $237.4M | ||
| Q1 25 | $324.5M | $238.0M | ||
| Q4 24 | — | $215.0M | ||
| Q3 24 | — | $178.7M | ||
| Q2 24 | $305.7M | $175.1M | ||
| Q1 24 | — | $184.7M |
净利润HCMPRGS
| Q4 25 | $2.0M | $25.7M | ||
| Q3 25 | — | $19.4M | ||
| Q2 25 | $455.0M | $17.0M | ||
| Q1 25 | $11.9M | $10.9M | ||
| Q4 24 | — | $1.1M | ||
| Q3 24 | — | $28.5M | ||
| Q2 24 | $25.8M | $16.2M | ||
| Q1 24 | — | $22.6M |
毛利率HCMPRGS
| Q4 25 | 37.7% | 81.6% | ||
| Q3 25 | — | 81.0% | ||
| Q2 25 | 0.1% | 80.1% | ||
| Q1 25 | 48.0% | 80.6% | ||
| Q4 24 | — | 83.0% | ||
| Q3 24 | — | 83.7% | ||
| Q2 24 | 41.1% | 81.7% | ||
| Q1 24 | — | 82.2% |
营业利润率HCMPRGS
| Q4 25 | -13.2% | 15.2% | ||
| Q3 25 | — | 17.6% | ||
| Q2 25 | -1.3% | 16.3% | ||
| Q1 25 | -5.0% | 13.6% | ||
| Q4 24 | — | 10.0% | ||
| Q3 24 | — | 22.6% | ||
| Q2 24 | -9.0% | 15.5% | ||
| Q1 24 | — | 19.0% |
净利率HCMPRGS
| Q4 25 | 0.7% | 10.2% | ||
| Q3 25 | — | 7.8% | ||
| Q2 25 | 163.8% | 7.2% | ||
| Q1 25 | 3.7% | 4.6% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 15.9% | ||
| Q2 24 | 8.4% | 9.2% | ||
| Q1 24 | — | 12.3% |
每股收益（稀释后）HCMPRGS
| Q4 25 | $0.00 | $0.59 | ||
| Q3 25 | — | $0.44 | ||
| Q2 25 | $0.52 | $0.39 | ||
| Q1 25 | $0.01 | $0.24 | ||
| Q4 24 | — | $0.01 | ||
| Q3 24 | — | $0.65 | ||
| Q2 24 | $0.03 | $0.37 | ||
| Q1 24 | — | $0.51 |
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 | $94.8M |
| 总债务越低越好 | $93.2M | $1.4B |
| 股东权益账面价值 | $1.2B | $478.3M |
| 总资产 | $1.8B | $2.5B |
| 负债/权益比越低杠杆越低 | 0.08× | 2.93× |
8季度趋势，按日历期对齐
现金及短期投资HCMPRGS
| Q4 25 | $1.4B | $94.8M | ||
| Q3 25 | — | $99.0M | ||
| Q2 25 | $1.4B | $102.0M | ||
| Q1 25 | $836.1M | $124.2M | ||
| Q4 24 | — | $118.1M | ||
| Q3 24 | — | $232.7M | ||
| Q2 24 | $802.5M | $190.4M | ||
| Q1 24 | — | $133.2M |
总债务HCMPRGS
| Q4 25 | $93.2M | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | $93.4M | $1.5B | ||
| Q1 25 | $82.8M | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | $82.1M | — | ||
| Q1 24 | — | — |
股东权益HCMPRGS
| Q4 25 | $1.2B | $478.3M | ||
| Q3 25 | — | $477.7M | ||
| Q2 25 | $1.2B | $452.7M | ||
| Q1 25 | $759.9M | $431.8M | ||
| Q4 24 | — | $438.8M | ||
| Q3 24 | — | $425.6M | ||
| Q2 24 | $740.1M | $401.7M | ||
| Q1 24 | — | $461.7M |
总资产HCMPRGS
| Q4 25 | $1.8B | $2.5B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | $1.8B | $2.4B | ||
| Q1 25 | $1.3B | $2.5B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | $1.3B | $1.6B | ||
| Q1 24 | — | $1.5B |
负债/权益比HCMPRGS
| Q4 25 | 0.08× | 2.93× | ||
| Q3 25 | — | 2.97× | ||
| Q2 25 | 0.08× | 3.22× | ||
| Q1 25 | 0.11× | 3.50× | ||
| Q4 24 | — | 3.48× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.11× | — | ||
| Q1 24 | — | — |
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 | $62.8M |
| 自由现金流经营现金流 - 资本支出 | $3.4M | $59.9M |
| 自由现金流率自由现金流/营收 | 1.2% | 23.7% |
| 资本支出强度资本支出/营收 | 1.8% | 1.1% |
| 现金转化率经营现金流/净利润 | 4.21× | 2.44× |
| 过去12个月自由现金流最近4个季度 | $-96.2M | $229.5M |
8季度趋势，按日历期对齐
经营现金流HCMPRGS
| Q4 25 | $8.2M | $62.8M | ||
| Q3 25 | — | $73.4M | ||
| Q2 25 | $-72.9M | $30.0M | ||
| Q1 25 | $40.3M | $68.9M | ||
| Q4 24 | — | $19.7M | ||
| Q3 24 | — | $57.7M | ||
| Q2 24 | $-39.8M | $63.7M | ||
| Q1 24 | — | $70.5M |
自由现金流HCMPRGS
| Q4 25 | $3.4M | $59.9M | ||
| Q3 25 | — | $72.4M | ||
| Q2 25 | $-82.2M | $29.5M | ||
| Q1 25 | $32.5M | $67.7M | ||
| Q4 24 | — | $16.8M | ||
| Q3 24 | — | $56.6M | ||
| Q2 24 | $-49.9M | $62.7M | ||
| Q1 24 | — | $70.2M |
自由现金流率HCMPRGS
| Q4 25 | 1.2% | 23.7% | ||
| Q3 25 | — | 29.0% | ||
| Q2 25 | -29.6% | 12.4% | ||
| Q1 25 | 10.0% | 28.4% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 31.7% | ||
| Q2 24 | -16.3% | 35.8% | ||
| Q1 24 | — | 38.0% |
资本支出强度HCMPRGS
| Q4 25 | 1.8% | 1.1% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | 3.3% | 0.2% | ||
| Q1 25 | 2.4% | 0.5% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | 3.3% | 0.5% | ||
| Q1 24 | — | 0.2% |
现金转化率HCMPRGS
| Q4 25 | 4.21× | 2.44× | ||
| Q3 25 | — | 3.78× | ||
| Q2 25 | -0.16× | 1.76× | ||
| Q1 25 | 3.38× | 6.30× | ||
| Q4 24 | — | 17.13× | ||
| Q3 24 | — | 2.03× | ||
| Q2 24 | -1.54× | 3.93× | ||
| Q1 24 | — | 3.11× |
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
PRGS
| Maintenanceand Services | $187.5M | 74% |
| Share File Acquisition | $67.5M | 27% |
