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HERON THERAPEUTICS, INC.（HRTX）与Repay Holdings Corp（RPAY）财务数据对比。点击上方公司名可切换其他公司
Repay Holdings Corp的季度营收约是HERON THERAPEUTICS, INC.的1.9倍（$78.6M vs $40.6M），HERON THERAPEUTICS, INC.净利率更高（-7.3% vs -178.3%，领先171.0%），Repay Holdings Corp同比增速更快（0.4% vs -0.5%），过去两年HERON THERAPEUTICS, INC.的营收复合增速更高（8.2% vs -1.3%）
安提贝制药是一家总部位于多伦多的制药企业，由曾参与创立全球首个气态介质药物开发企业NicOx的约翰·L·华莱士创立于2009年。该企业专注于依托气态介质技术研发缓解疼痛与炎症的药物，2013年在多伦多风险交易所挂牌，2015年收购再生医学领域经销商Citagenix，2020年11月转板多伦多证券交易所。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
HRTX vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.9倍
$40.6M
营收增速更快
RPAY
高出0.9%
-0.5%
净利率更高
HRTX
高出171.0%
-178.3%
两年增速更快
HRTX
近两年复合增速
-1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $40.6M | $78.6M |
| 净利润 | $-3.0M | $-140.1M |
| 毛利率 | 72.6% | 74.2% |
| 营业利润率 | 0.1% | -182.2% |
| 净利率 | -7.3% | -178.3% |
| 营收同比 | -0.5% | 0.4% |
| 净利润同比 | -180.6% | -3304.1% |
| 每股收益（稀释后） | $-0.01 | $-1.68 |
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HRTXRPAY
| Q4 25 | $40.6M | $78.6M | ||
| Q3 25 | $38.2M | $77.7M | ||
| Q2 25 | $37.2M | $75.6M | ||
| Q1 25 | $38.9M | $77.3M | ||
| Q4 24 | $40.8M | $78.3M | ||
| Q3 24 | $32.8M | $79.1M | ||
| Q2 24 | $36.0M | $74.9M | ||
| Q1 24 | $34.7M | $80.7M |
净利润HRTXRPAY
| Q4 25 | $-3.0M | $-140.1M | ||
| Q3 25 | $-17.5M | $-6.4M | ||
| Q2 25 | $-2.4M | $-102.3M | ||
| Q1 25 | $2.6M | $-7.9M | ||
| Q4 24 | $3.7M | $-4.1M | ||
| Q3 24 | $-4.8M | $3.2M | ||
| Q2 24 | $-9.2M | $-4.1M | ||
| Q1 24 | $-3.2M | $-5.2M |
毛利率HRTXRPAY
| Q4 25 | 72.6% | 74.2% | ||
| Q3 25 | 68.8% | 74.4% | ||
| Q2 25 | 73.5% | 75.7% | ||
| Q1 25 | 78.3% | 75.9% | ||
| Q4 24 | 74.9% | 76.3% | ||
| Q3 24 | 71.2% | 77.8% | ||
| Q2 24 | 70.8% | 78.2% | ||
| Q1 24 | 75.6% | 76.2% |
营业利润率HRTXRPAY
| Q4 25 | 0.1% | -182.2% | ||
| Q3 25 | -10.7% | -3.9% | ||
| Q2 25 | -4.4% | -138.7% | ||
| Q1 25 | 8.1% | -4.7% | ||
| Q4 24 | 10.2% | -1.5% | ||
| Q3 24 | -13.6% | -0.9% | ||
| Q2 24 | -17.9% | -4.6% | ||
| Q1 24 | -13.8% | -3.1% |
净利率HRTXRPAY
| Q4 25 | -7.3% | -178.3% | ||
| Q3 25 | -45.8% | -8.3% | ||
| Q2 25 | -6.4% | -135.2% | ||
| Q1 25 | 6.8% | -10.3% | ||
| Q4 24 | 9.0% | -5.3% | ||
| Q3 24 | -14.8% | 4.1% | ||
| Q2 24 | -25.6% | -5.4% | ||
| Q1 24 | -9.1% | -6.5% |
每股收益（稀释后）HRTXRPAY
| Q4 25 | $-0.01 | $-1.68 | ||
| Q3 25 | $-0.10 | $-0.08 | ||
| Q2 25 | $-0.02 | $-1.15 | ||
| Q1 25 | $0.01 | $-0.09 | ||
| Q4 24 | $0.02 | $-0.04 | ||
| Q3 24 | $-0.03 | $0.03 | ||
| Q2 24 | $-0.06 | $-0.04 | ||
| Q1 24 | $-0.02 | $-0.06 |
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 | $28.6M | $115.7M |
| 总债务越低越好 | — | $280.1M |
| 股东权益账面价值 | $14.3M | $484.4M |
| 总资产 | $255.9M | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资HRTXRPAY
| Q4 25 | $28.6M | $115.7M | ||
| Q3 25 | $43.1M | $95.7M | ||
| Q2 25 | $16.5M | $162.6M | ||
| Q1 25 | $19.3M | $165.5M | ||
| Q4 24 | $25.8M | $189.5M | ||
| Q3 24 | $25.7M | $168.7M | ||
| Q2 24 | $18.4M | $147.1M | ||
| Q1 24 | $20.4M | $128.3M |
总债务HRTXRPAY
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
股东权益HRTXRPAY
| Q4 25 | $14.3M | $484.4M | ||
| Q3 25 | $14.9M | $616.9M | ||
| Q2 25 | $-27.3M | $633.7M | ||
| Q1 25 | $-28.5M | $755.7M | ||
| Q4 24 | $-33.7M | $761.3M | ||
| Q3 24 | $-40.0M | $754.7M | ||
| Q2 24 | $-37.9M | $815.4M | ||
| Q1 24 | $-33.8M | $813.8M |
总资产HRTXRPAY
| Q4 25 | $255.9M | $1.2B | ||
| Q3 25 | $248.9M | $1.3B | ||
| Q2 25 | $232.1M | $1.4B | ||
| Q1 25 | $235.8M | $1.5B | ||
| Q4 24 | $233.1M | $1.6B | ||
| Q3 24 | $220.8M | $1.6B | ||
| Q2 24 | $218.1M | $1.5B | ||
| Q1 24 | $217.9M | $1.5B |
负债/权益比HRTXRPAY
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $-9.2M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | — | $23.2M |
| 自由现金流率自由现金流/营收 | — | 29.6% |
| 资本支出强度资本支出/营收 | 0.0% | 0.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $90.7M |
8季度趋势，按日历期对齐
经营现金流HRTXRPAY
| Q4 25 | $-9.2M | $23.3M | ||
| Q3 25 | $1.3M | $32.2M | ||
| Q2 25 | $-10.9M | $33.1M | ||
| Q1 25 | $-8.9M | $2.5M | ||
| Q4 24 | $-11.8M | $34.3M | ||
| Q3 24 | $3.4M | $60.1M | ||
| Q2 24 | $-4.6M | $31.0M | ||
| Q1 24 | $-9.5M | $24.8M |
自由现金流HRTXRPAY
| Q4 25 | — | $23.2M | ||
| Q3 25 | — | $32.1M | ||
| Q2 25 | $-11.1M | $33.0M | ||
| Q1 25 | $-9.0M | $2.4M | ||
| Q4 24 | — | $34.0M | ||
| Q3 24 | $2.9M | $59.8M | ||
| Q2 24 | — | $30.5M | ||
| Q1 24 | — | $24.7M |
自由现金流率HRTXRPAY
| Q4 25 | — | 29.6% | ||
| Q3 25 | — | 41.3% | ||
| Q2 25 | -29.8% | 43.6% | ||
| Q1 25 | -23.1% | 3.0% | ||
| Q4 24 | — | 43.5% | ||
| Q3 24 | 9.0% | 75.6% | ||
| Q2 24 | — | 40.7% | ||
| Q1 24 | — | 30.6% |
资本支出强度HRTXRPAY
| Q4 25 | 0.0% | 0.1% | ||
| Q3 25 | 0.0% | 0.2% | ||
| Q2 25 | 0.6% | 0.1% | ||
| Q1 25 | 0.3% | 0.2% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | 1.3% | 0.3% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.1% |
现金转化率HRTXRPAY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -3.37× | — | ||
| Q4 24 | -3.22× | — | ||
| Q3 24 | — | 18.52× | ||
| Q2 24 | — | — | ||
| 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
HRTX
| CINVANTI | $22.9M | 56% |
| ZYNRELEF | $12.5M | 31% |
| Aponvie | $3.8M | 9% |
| SUSTOL | $1.3M | 3% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
