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和黄医药（HCM）与RAYONIER ADVANCED MATERIALS INC.（RYAM）财务数据对比。点击上方公司名可切换其他公司
RAYONIER ADVANCED MATERIALS INC.的季度营收约是和黄医药的1.5倍（$417.5M vs $270.8M），和黄医药净利率更高（0.7% vs -5.0%，领先5.8%），RAYONIER ADVANCED MATERIALS INC.同比增速更快（-1.2% 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。
RYAM（原雷尼尔先进材料公司）是一家美国全球性纤维素技术企业，主打高纯度特种纤维素产品，所生产的天然聚合物广泛应用于过滤器生产、食品加工、医药制造及各类工业领域，同时也为造纸和包装行业供应相关产品，在纤维素技术领域拥有较高的行业认可度。
HCM vs RYAM — 直观对比
营收规模更大
RYAM
是对方的1.5倍
$270.8M
营收增速更快
RYAM
高出15.4%
-16.5%
净利率更高
HCM
高出5.8%
-5.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $270.8M | $417.5M |
| 净利润 | $2.0M | $-21.1M |
| 毛利率 | 37.7% | 8.9% |
| 营业利润率 | -13.2% | 2.6% |
| 净利率 | 0.7% | -5.0% |
| 营收同比 | -16.5% | -1.2% |
| 净利润同比 | -83.6% | -31.9% |
| 每股收益（稀释后） | $0.00 | $-0.33 |
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HCMRYAM
| Q4 25 | $270.8M | $417.5M | ||
| Q3 25 | — | $352.8M | ||
| Q2 25 | $277.7M | $340.0M | ||
| Q1 25 | $324.5M | $356.0M | ||
| Q4 24 | — | $422.5M | ||
| Q3 24 | — | $401.1M | ||
| Q2 24 | $305.7M | $419.0M | ||
| Q1 24 | — | $387.7M |
净利润HCMRYAM
| Q4 25 | $2.0M | $-21.1M | ||
| Q3 25 | — | $-4.5M | ||
| Q2 25 | $455.0M | $-363.2M | ||
| Q1 25 | $11.9M | $-32.0M | ||
| Q4 24 | — | $-16.0M | ||
| Q3 24 | — | $-32.6M | ||
| Q2 24 | $25.8M | $11.4M | ||
| Q1 24 | — | $-1.6M |
毛利率HCMRYAM
| Q4 25 | 37.7% | 8.9% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | 0.1% | 7.0% | ||
| Q1 25 | 48.0% | 6.8% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | — | 10.9% | ||
| Q2 24 | 41.1% | 11.5% | ||
| Q1 24 | — | 9.5% |
营业利润率HCMRYAM
| Q4 25 | -13.2% | 2.6% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | -1.3% | -0.4% | ||
| Q1 25 | -5.0% | -4.2% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | -4.2% | ||
| Q2 24 | -9.0% | 6.7% | ||
| Q1 24 | — | 4.4% |
净利率HCMRYAM
| Q4 25 | 0.7% | -5.0% | ||
| Q3 25 | — | -1.3% | ||
| Q2 25 | 163.8% | -106.8% | ||
| Q1 25 | 3.7% | -9.0% | ||
| Q4 24 | — | -3.8% | ||
| Q3 24 | — | -8.1% | ||
| Q2 24 | 8.4% | 2.7% | ||
| Q1 24 | — | -0.4% |
每股收益（稀释后）HCMRYAM
| Q4 25 | $0.00 | $-0.33 | ||
| Q3 25 | — | $-0.07 | ||
| Q2 25 | $0.52 | $-5.44 | ||
| Q1 25 | $0.01 | $-0.49 | ||
| Q4 24 | — | $-0.25 | ||
| Q3 24 | — | $-0.49 | ||
| Q2 24 | $0.03 | $0.17 | ||
| Q1 24 | — | $-0.02 |
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 | $75.4M |
| 总债务越低越好 | $93.2M | $758.1M |
| 股东权益账面价值 | $1.2B | $316.6M |
| 总资产 | $1.8B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.08× | 2.39× |
8季度趋势，按日历期对齐
现金及短期投资HCMRYAM
| Q4 25 | $1.4B | $75.4M | ||
| Q3 25 | — | $77.0M | ||
| Q2 25 | $1.4B | $70.7M | ||
| Q1 25 | $836.1M | $129.9M | ||
| Q4 24 | — | $125.2M | ||
| Q3 24 | — | $136.1M | ||
| Q2 24 | $802.5M | $114.1M | ||
| Q1 24 | — | $54.6M |
总债务HCMRYAM
| Q4 25 | $93.2M | $758.1M | ||
| Q3 25 | — | $763.5M | ||
| Q2 25 | $93.4M | $720.4M | ||
| Q1 25 | $82.8M | $707.0M | ||
| Q4 24 | — | $706.4M | ||
| Q3 24 | — | $747.7M | ||
| Q2 24 | $82.1M | $752.8M | ||
| Q1 24 | — | $755.6M |
股东权益HCMRYAM
| Q4 25 | $1.2B | $316.6M | ||
| Q3 25 | — | $338.2M | ||
| Q2 25 | $1.2B | $342.3M | ||
| Q1 25 | $759.9M | $688.1M | ||
| Q4 24 | — | $713.9M | ||
| Q3 24 | — | $732.7M | ||
| Q2 24 | $740.1M | $755.1M | ||
| Q1 24 | — | $741.8M |
总资产HCMRYAM
| Q4 25 | $1.8B | $1.8B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | $1.8B | $1.8B | ||
| Q1 25 | $1.3B | $2.1B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | $1.3B | $2.2B | ||
| Q1 24 | — | $2.1B |
负债/权益比HCMRYAM
| Q4 25 | 0.08× | 2.39× | ||
| Q3 25 | — | 2.26× | ||
| Q2 25 | 0.08× | 2.10× | ||
| Q1 25 | 0.11× | 1.03× | ||
| Q4 24 | — | 0.99× | ||
| Q3 24 | — | 1.02× | ||
| Q2 24 | 0.11× | 1.00× | ||
| Q1 24 | — | 1.02× |
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 | $32.3M |
| 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HCMRYAM
| Q4 25 | $8.2M | $32.3M | ||
| Q3 25 | — | $-17.8M | ||
| Q2 25 | $-72.9M | $-30.2M | ||
| Q1 25 | $40.3M | $39.6M | ||
| Q4 24 | — | $54.9M | ||
| Q3 24 | — | $49.8M | ||
| Q2 24 | $-39.8M | $87.6M | ||
| Q1 24 | — | $11.3M |
自由现金流HCMRYAM
| Q4 25 | $3.4M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-82.2M | — | ||
| Q1 25 | $32.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-49.9M | — | ||
| Q1 24 | — | — |
自由现金流率HCMRYAM
| Q4 25 | 1.2% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -29.6% | — | ||
| Q1 25 | 10.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -16.3% | — | ||
| Q1 24 | — | — |
资本支出强度HCMRYAM
| Q4 25 | 1.8% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.3% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 3.3% | — | ||
| Q1 24 | — | — |
现金转化率HCMRYAM
| Q4 25 | 4.21× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.16× | — | ||
| Q1 25 | 3.38× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.54× | 7.69× | ||
| Q1 24 | — | — |
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
RYAM
| Cellulose Specialties | $249.6M | 60% |
| Other | $86.2M | 21% |
| Paperboard | $44.2M | 11% |
| High Yield Pulp | $28.3M | 7% |
| Biomaterials | $9.2M | 2% |
