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和黄医药（HCM）与Unity Software Inc.（U）财务数据对比。点击上方公司名可切换其他公司
Unity Software Inc.的季度营收约是和黄医药的1.9倍（$503.1M vs $270.8M），和黄医药净利率更高（0.7% vs -17.9%，领先18.6%），Unity Software Inc.同比增速更快（10.1% vs -16.5%），Unity Software Inc.自由现金流更多（$118.7M 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。
Unity Software Inc.是总部位于美国旧金山的游戏软件开发企业，2004年于丹麦成立时原名为Over the Edge Entertainment，2007年更为现名。公司核心产品Unity游戏引擎全球应用广泛，可用于开发各类电子游戏及其他互动应用，商业化授权服务覆盖全球客户。
HCM vs U — 直观对比
营收规模更大
U
是对方的1.9倍
$270.8M
营收增速更快
U
高出26.6%
-16.5%
净利率更高
HCM
高出18.6%
-17.9%
自由现金流更多
U
多$115.3M
$3.4M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $270.8M | $503.1M |
| 净利润 | $2.0M | $-90.0M |
| 毛利率 | 37.7% | 74.3% |
| 营业利润率 | -13.2% | -21.2% |
| 净利率 | 0.7% | -17.9% |
| 营收同比 | -16.5% | 10.1% |
| 净利润同比 | -83.6% | 26.7% |
| 每股收益（稀释后） | $0.00 | $-0.21 |
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HCMU
| Q4 25 | $270.8M | $503.1M | ||
| Q3 25 | — | $470.6M | ||
| Q2 25 | $277.7M | $440.9M | ||
| Q1 25 | $324.5M | $435.0M | ||
| Q4 24 | — | $457.1M | ||
| Q3 24 | — | $446.5M | ||
| Q2 24 | $305.7M | $449.3M | ||
| Q1 24 | — | $460.4M |
净利润HCMU
| Q4 25 | $2.0M | $-90.0M | ||
| Q3 25 | — | $-126.4M | ||
| Q2 25 | $455.0M | $-108.8M | ||
| Q1 25 | $11.9M | $-77.6M | ||
| Q4 24 | — | $-122.7M | ||
| Q3 24 | — | $-124.7M | ||
| Q2 24 | $25.8M | $-125.6M | ||
| Q1 24 | — | $-291.1M |
毛利率HCMU
| Q4 25 | 37.7% | 74.3% | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | 0.1% | 74.1% | ||
| Q1 25 | 48.0% | 73.8% | ||
| Q4 24 | — | 74.7% | ||
| Q3 24 | — | 74.9% | ||
| Q2 24 | 41.1% | 75.8% | ||
| Q1 24 | — | 68.6% |
营业利润率HCMU
| Q4 25 | -13.2% | -21.2% | ||
| Q3 25 | — | -26.7% | ||
| Q2 25 | -1.3% | -26.9% | ||
| Q1 25 | -5.0% | -29.4% | ||
| Q4 24 | — | -27.1% | ||
| Q3 24 | — | -28.5% | ||
| Q2 24 | -9.0% | -28.8% | ||
| Q1 24 | — | -81.4% |
净利率HCMU
| Q4 25 | 0.7% | -17.9% | ||
| Q3 25 | — | -26.9% | ||
| Q2 25 | 163.8% | -24.7% | ||
| Q1 25 | 3.7% | -17.8% | ||
| Q4 24 | — | -26.8% | ||
| Q3 24 | — | -27.9% | ||
| Q2 24 | 8.4% | -28.0% | ||
| Q1 24 | — | -63.2% |
每股收益（稀释后）HCMU
| Q4 25 | $0.00 | $-0.21 | ||
| Q3 25 | — | $-0.30 | ||
| Q2 25 | $0.52 | $-0.26 | ||
| Q1 25 | $0.01 | $-0.19 | ||
| Q4 24 | — | $-0.30 | ||
| Q3 24 | — | $-0.31 | ||
| Q2 24 | $0.03 | $-0.32 | ||
| Q1 24 | — | $-0.75 |
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 | $2.1B |
| 总债务越低越好 | $93.2M | — |
| 股东权益账面价值 | $1.2B | $3.2B |
| 总资产 | $1.8B | $6.8B |
| 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HCMU
| Q4 25 | $1.4B | $2.1B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | $1.4B | $1.7B | ||
| Q1 25 | $836.1M | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | $802.5M | $1.3B | ||
| Q1 24 | — | $1.2B |
总债务HCMU
| Q4 25 | $93.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $93.4M | — | ||
| Q1 25 | $82.8M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $82.1M | — | ||
| Q1 24 | — | — |
股东权益HCMU
| Q4 25 | $1.2B | $3.2B | ||
| Q3 25 | — | $3.2B | ||
| Q2 25 | $1.2B | $3.2B | ||
| Q1 25 | $759.9M | $3.2B | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | — | $3.2B | ||
| Q2 24 | $740.1M | $3.2B | ||
| Q1 24 | — | $3.2B |
总资产HCMU
| Q4 25 | $1.8B | $6.8B | ||
| Q3 25 | — | $6.8B | ||
| Q2 25 | $1.8B | $6.7B | ||
| Q1 25 | $1.3B | $6.6B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | — | $6.7B | ||
| Q2 24 | $1.3B | $6.7B | ||
| Q1 24 | — | $6.8B |
负债/权益比HCMU
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.08× | — | ||
| Q1 25 | 0.11× | — | ||
| Q4 24 | — | — | ||
| 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 | $121.4M |
| 自由现金流经营现金流 - 资本支出 | $3.4M | $118.7M |
| 自由现金流率自由现金流/营收 | 1.2% | 23.6% |
| 资本支出强度资本支出/营收 | 1.8% | 0.5% |
| 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 | $403.9M |
8季度趋势，按日历期对齐
经营现金流HCMU
| Q4 25 | $8.2M | $121.4M | ||
| Q3 25 | — | $155.4M | ||
| Q2 25 | $-72.9M | $133.1M | ||
| Q1 25 | $40.3M | $13.0M | ||
| Q4 24 | — | $112.2M | ||
| Q3 24 | — | $122.4M | ||
| Q2 24 | $-39.8M | $88.4M | ||
| Q1 24 | — | $-7.4M |
自由现金流HCMU
| Q4 25 | $3.4M | $118.7M | ||
| Q3 25 | — | $151.3M | ||
| Q2 25 | $-82.2M | $126.7M | ||
| Q1 25 | $32.5M | $7.3M | ||
| Q4 24 | — | $105.8M | ||
| Q3 24 | — | $115.2M | ||
| Q2 24 | $-49.9M | $79.6M | ||
| Q1 24 | — | $-14.6M |
自由现金流率HCMU
| Q4 25 | 1.2% | 23.6% | ||
| Q3 25 | — | 32.1% | ||
| Q2 25 | -29.6% | 28.7% | ||
| Q1 25 | 10.0% | 1.7% | ||
| Q4 24 | — | 23.1% | ||
| Q3 24 | — | 25.8% | ||
| Q2 24 | -16.3% | 17.7% | ||
| Q1 24 | — | -3.2% |
资本支出强度HCMU
| Q4 25 | 1.8% | 0.5% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | 3.3% | 1.5% | ||
| Q1 25 | 2.4% | 1.3% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | 3.3% | 2.0% | ||
| Q1 24 | — | 1.6% |
现金转化率HCMU
| Q4 25 | 4.21× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.16× | — | ||
| Q1 25 | 3.38× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.54× | — | ||
| 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
U
| Grow Solutions | $338.2M | 67% |
| Create Solutions | $164.9M | 33% |
