vs
HERITAGE COMMERCE CORP（HTBK）与STEM, INC.（STEM）财务数据对比。点击上方公司名可切换其他公司
HERITAGE COMMERCE CORP的季度营收约是STEM, INC.的1.1倍（$53.6M vs $47.1M），HERITAGE COMMERCE CORP净利率更高（28.2% vs -33.9%，领先62.1%），HERITAGE COMMERCE CORP同比增速更快（15.6% vs -15.6%），过去两年STEM, INC.的营收复合增速更高（36.1% vs 12.8%）
本文介绍的企业主体信息与内容描述不符，描述内容实际为美国商会，该商会成立于1912年4月23日，是美国规模最大的游说类商业协会 advocacy 团体，成立之初得益于时任总统威廉·霍华德·塔夫脱与劳工商务部长查尔斯·内格尔推动，旨在代表工商界发声。
该公司是一家公开上市的生物制药企业，总部位于加利福尼亚州纽瓦克，专注研发纯化人类神经干细胞，旨在治疗中枢神经系统疾病与瘫痪，其所研发的神经干细胞可分化为中枢神经系统的神经元、星形胶质细胞与少突胶质细胞这三大主要细胞类型。
HTBK vs STEM — 直观对比
营收规模更大
HTBK
是对方的1.1倍
$47.1M
营收增速更快
HTBK
高出31.2%
-15.6%
净利率更高
HTBK
高出62.1%
-33.9%
两年增速更快
STEM
近两年复合增速
12.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $53.6M | $47.1M |
| 净利润 | $15.1M | $-16.0M |
| 毛利率 | — | 48.9% |
| 营业利润率 | 41.0% | -17.7% |
| 净利率 | 28.2% | -33.9% |
| 营收同比 | 15.6% | -15.6% |
| 净利润同比 | 42.3% | 68.8% |
| 每股收益（稀释后） | $0.25 | $-4.40 |
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HTBKSTEM
| Q4 25 | $53.6M | $47.1M | ||
| Q3 25 | $50.0M | $38.2M | ||
| Q2 25 | $47.8M | $38.4M | ||
| Q1 25 | $46.1M | $32.5M | ||
| Q4 24 | $46.4M | $55.8M | ||
| Q3 24 | $42.2M | $29.3M | ||
| Q2 24 | $41.7M | $34.0M | ||
| Q1 24 | $42.1M | $25.5M |
净利润HTBKSTEM
| Q4 25 | $15.1M | $-16.0M | ||
| Q3 25 | $14.7M | $-23.8M | ||
| Q2 25 | $6.4M | $202.5M | ||
| Q1 25 | $11.6M | $-25.0M | ||
| Q4 24 | $10.6M | $-51.1M | ||
| Q3 24 | $10.5M | $-148.3M | ||
| Q2 24 | $9.2M | $-582.3M | ||
| Q1 24 | $10.2M | $-72.3M |
毛利率HTBKSTEM
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
营业利润率HTBKSTEM
| Q4 25 | 41.0% | -17.7% | ||
| Q3 25 | 41.1% | -33.6% | ||
| Q2 25 | 18.7% | -34.8% | ||
| Q1 25 | 35.4% | -65.0% | ||
| Q4 24 | 31.8% | -84.4% | ||
| Q3 24 | 34.3% | -493.2% | ||
| Q2 24 | 31.3% | -1705.5% | ||
| Q1 24 | 34.2% | -267.0% |
净利率HTBKSTEM
| Q4 25 | 28.2% | -33.9% | ||
| Q3 25 | 29.4% | -62.2% | ||
| Q2 25 | 13.4% | 527.8% | ||
| Q1 25 | 25.2% | -76.9% | ||
| Q4 24 | 22.9% | -91.6% | ||
| Q3 24 | 24.9% | -506.3% | ||
| Q2 24 | 22.1% | -1712.6% | ||
| Q1 24 | 24.1% | -283.9% |
每股收益（稀释后）HTBKSTEM
| Q4 25 | $0.25 | $-4.40 | ||
| Q3 25 | $0.24 | $-2.84 | ||
| Q2 25 | $0.10 | $-1.79 | ||
| Q1 25 | $0.19 | $-0.15 | ||
| Q4 24 | $0.17 | $-15.29 | ||
| Q3 24 | $0.17 | $-18.24 | ||
| Q2 24 | $0.15 | $-71.81 | ||
| Q1 24 | $0.17 | $-0.46 |
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 | — | $48.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $708.6M | $-249.4M |
| 总资产 | $5.8B | $308.9M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资HTBKSTEM
| Q4 25 | — | $48.9M | ||
| Q3 25 | — | $43.1M | ||
| Q2 25 | — | $40.8M | ||
| Q1 25 | — | $58.6M | ||
| Q4 24 | — | $56.3M | ||
| Q3 24 | — | $75.4M | ||
| Q2 24 | — | $89.6M | ||
| Q1 24 | — | $112.8M |
股东权益HTBKSTEM
| Q4 25 | $708.6M | $-249.4M | ||
| Q3 25 | $700.0M | $-235.7M | ||
| Q2 25 | $694.7M | $-214.1M | ||
| Q1 25 | $696.2M | $-417.5M | ||
| Q4 24 | $689.7M | $-398.4M | ||
| Q3 24 | $685.4M | $-344.1M | ||
| Q2 24 | $679.2M | $-203.2M | ||
| Q1 24 | $676.3M | $371.6M |
总资产HTBKSTEM
| Q4 25 | $5.8B | $308.9M | ||
| Q3 25 | $5.6B | $362.6M | ||
| Q2 25 | $5.5B | $379.2M | ||
| Q1 25 | $5.5B | $405.1M | ||
| Q4 24 | $5.6B | $437.4M | ||
| Q3 24 | $5.6B | $537.8M | ||
| Q2 24 | $5.3B | $691.5M | ||
| Q1 24 | $5.3B | $1.3B |
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 | $61.7M | $8.2M |
| 自由现金流经营现金流 - 资本支出 | $61.3M | — |
| 自由现金流率自由现金流/营收 | 114.3% | — |
| 资本支出强度资本支出/营收 | 0.7% | — |
| 现金转化率经营现金流/净利润 | 4.08× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流HTBKSTEM
| Q4 25 | $61.7M | $8.2M | ||
| Q3 25 | $18.9M | $11.4M | ||
| Q2 25 | $8.0M | $-21.3M | ||
| Q1 25 | $14.8M | $8.5M | ||
| Q4 24 | $39.0M | $-14.7M | ||
| Q3 24 | $5.3M | $-9.4M | ||
| Q2 24 | $10.5M | $-11.9M | ||
| Q1 24 | $7.3M | $-621.0K |
自由现金流HTBKSTEM
| Q4 25 | $61.3M | — | ||
| Q3 25 | $18.8M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $37.3M | — | ||
| Q3 24 | $4.9M | — | ||
| Q2 24 | $9.9M | — | ||
| Q1 24 | $6.9M | — |
自由现金流率HTBKSTEM
| Q4 25 | 114.3% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 80.5% | — | ||
| Q3 24 | 11.6% | — | ||
| Q2 24 | 23.6% | — | ||
| Q1 24 | 16.4% | — |
资本支出强度HTBKSTEM
| Q4 25 | 0.7% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.5% | — | ||
| Q3 24 | 1.0% | — | ||
| Q2 24 | 1.6% | — | ||
| Q1 24 | 1.0% | — |
现金转化率HTBKSTEM
| Q4 25 | 4.08× | — | ||
| Q3 25 | 1.28× | — | ||
| Q2 25 | 1.25× | -0.11× | ||
| Q1 25 | 1.28× | — | ||
| Q4 24 | 3.67× | — | ||
| Q3 24 | 0.50× | — | ||
| Q2 24 | 1.14× | — | ||
| Q1 24 | 0.72× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
