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和黄医药（HCM）与Ribbon Communications Inc.（RBBN）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Ribbon Communications Inc.的1.7倍（$270.8M vs $162.6M），Ribbon Communications Inc.净利率更高（54.8% vs 0.7%，领先54.1%），Ribbon Communications Inc.同比增速更快（-10.3% 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。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
HCM vs RBBN — 直观对比
营收规模更大
HCM
是对方的1.7倍
$162.6M
营收增速更快
RBBN
高出6.2%
-16.5%
净利率更高
RBBN
高出54.1%
0.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $270.8M | $162.6M |
| 净利润 | $2.0M | $89.1M |
| 毛利率 | 37.7% | 42.9% |
| 营业利润率 | -13.2% | 37.6% |
| 净利率 | 0.7% | 54.8% |
| 营收同比 | -16.5% | -10.3% |
| 净利润同比 | -83.6% | — |
| 每股收益（稀释后） | $0.00 | $0.50 |
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HCMRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $270.8M | $227.3M | ||
| Q3 25 | — | $215.4M | ||
| Q2 25 | $277.7M | $220.6M | ||
| Q1 25 | $324.5M | $181.3M | ||
| Q4 24 | — | $251.4M | ||
| Q3 24 | — | $210.2M | ||
| Q2 24 | $305.7M | $192.6M |
净利润HCMRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $2.0M | — | ||
| Q3 25 | — | $-12.1M | ||
| Q2 25 | $455.0M | $-11.1M | ||
| Q1 25 | $11.9M | $-26.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-13.4M | ||
| Q2 24 | $25.8M | $-16.8M |
毛利率HCMRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | 37.7% | 53.3% | ||
| Q3 25 | — | 50.1% | ||
| Q2 25 | 0.1% | 49.6% | ||
| Q1 25 | 48.0% | 45.4% | ||
| Q4 24 | — | 55.7% | ||
| Q3 24 | — | 52.1% | ||
| Q2 24 | 41.1% | 50.8% |
营业利润率HCMRBBN
| Q1 26 | — | 37.6% | ||
| Q4 25 | -13.2% | 4.1% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | -1.3% | 1.9% | ||
| Q1 25 | -5.0% | -10.8% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | — | -0.4% | ||
| Q2 24 | -9.0% | -1.0% |
净利率HCMRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | 0.7% | — | ||
| Q3 25 | — | -5.6% | ||
| Q2 25 | 163.8% | -5.0% | ||
| Q1 25 | 3.7% | -14.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -6.4% | ||
| Q2 24 | 8.4% | -8.7% |
每股收益（稀释后）HCMRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $0.00 | $0.50 | ||
| Q3 25 | — | $-0.07 | ||
| Q2 25 | $0.52 | $-0.06 | ||
| Q1 25 | $0.01 | $-0.15 | ||
| Q4 24 | — | $0.05 | ||
| Q3 24 | — | $-0.08 | ||
| Q2 24 | $0.03 | $-0.10 |
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 | $67.6M |
| 总债务越低越好 | $93.2M | — |
| 股东权益账面价值 | $1.2B | $419.1M |
| 总资产 | $1.8B | — |
| 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HCMRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $1.4B | $96.4M | ||
| Q3 25 | — | $74.8M | ||
| Q2 25 | $1.4B | $60.5M | ||
| Q1 25 | $836.1M | $71.2M | ||
| Q4 24 | — | $87.8M | ||
| Q3 24 | — | $37.2M | ||
| Q2 24 | $802.5M | $64.6M |
总债务HCMRBBN
| Q1 26 | — | — | ||
| Q4 25 | $93.2M | $342.1M | ||
| Q3 25 | — | $344.3M | ||
| Q2 25 | $93.4M | $346.5M | ||
| Q1 25 | $82.8M | $347.4M | ||
| Q4 24 | — | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | $82.1M | $350.0M |
股东权益HCMRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $1.2B | $449.0M | ||
| Q3 25 | — | $360.1M | ||
| Q2 25 | $1.2B | $370.4M | ||
| Q1 25 | $759.9M | $381.8M | ||
| Q4 24 | — | $404.6M | ||
| Q3 24 | — | $395.5M | ||
| Q2 24 | $740.1M | $405.0M |
总资产HCMRBBN
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $1.2B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | $1.8B | $1.1B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | $1.3B | $1.1B |
负债/权益比HCMRBBN
| Q1 26 | — | — | ||
| Q4 25 | 0.08× | 0.76× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | 0.08× | 0.94× | ||
| Q1 25 | 0.11× | 0.91× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | 0.11× | 0.86× |
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% | — |
| 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HCMRBBN
| Q1 26 | — | — | ||
| Q4 25 | $8.2M | $29.2M | ||
| Q3 25 | — | $26.5M | ||
| Q2 25 | $-72.9M | $-795.0K | ||
| Q1 25 | $40.3M | $-3.5M | ||
| Q4 24 | — | $61.8M | ||
| Q3 24 | — | $-14.8M | ||
| Q2 24 | $-39.8M | $-9.8M |
自由现金流HCMRBBN
| Q1 26 | — | — | ||
| Q4 25 | $3.4M | $27.3M | ||
| Q3 25 | — | $21.0M | ||
| Q2 25 | $-82.2M | $-6.5M | ||
| Q1 25 | $32.5M | $-15.7M | ||
| Q4 24 | — | $53.8M | ||
| Q3 24 | — | $-23.7M | ||
| Q2 24 | $-49.9M | $-12.9M |
自由现金流率HCMRBBN
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 12.0% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | -29.6% | -2.9% | ||
| Q1 25 | 10.0% | -8.7% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | -11.3% | ||
| Q2 24 | -16.3% | -6.7% |
资本支出强度HCMRBBN
| Q1 26 | — | — | ||
| Q4 25 | 1.8% | 0.9% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | 3.3% | 2.6% | ||
| Q1 25 | 2.4% | 6.7% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 4.2% | ||
| Q2 24 | 3.3% | 1.6% |
现金转化率HCMRBBN
| 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
业务分部营收拆解
HCM
暂无分部数据
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
