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Hut 8 Corp.（HUT）与STEM, INC.（STEM）财务数据对比。点击上方公司名可切换其他公司
Hut 8 Corp.的季度营收约是STEM, INC.的1.9倍（$88.5M vs $47.1M），STEM, INC.净利率更高（-33.9% vs -316.0%，领先282.2%），Hut 8 Corp.同比增速更快（179.2% vs -15.6%），过去两年STEM, INC.的营收复合增速更高（36.1% vs 30.8%）
Tropical Hut是菲律宾水星集团旗下的快餐连锁品牌，是菲律宾历史第七悠久的餐饮连锁品牌，创立时间早于1978年成立的快乐蜂及1981年进入菲律宾市场的麦当劳。
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。
HUT vs STEM — 直观对比
营收规模更大
HUT
是对方的1.9倍
$47.1M
营收增速更快
HUT
高出194.8%
-15.6%
净利率更高
STEM
高出282.2%
-316.0%
两年增速更快
STEM
近两年复合增速
30.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $88.5M | $47.1M |
| 净利润 | $-279.7M | $-16.0M |
| 毛利率 | 60.4% | 48.9% |
| 营业利润率 | -491.4% | -17.7% |
| 净利率 | -316.0% | -33.9% |
| 营收同比 | 179.2% | -15.6% |
| 净利润同比 | -283.7% | 68.8% |
| 每股收益（稀释后） | $-2.45 | $-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HUTSTEM
| Q4 25 | $88.5M | $47.1M | ||
| Q3 25 | $83.5M | $38.2M | ||
| Q2 25 | $41.3M | $38.4M | ||
| Q1 25 | $21.8M | $32.5M | ||
| Q4 24 | $31.7M | $55.8M | ||
| Q3 24 | $43.7M | $29.3M | ||
| Q2 24 | $35.2M | $34.0M | ||
| Q1 24 | $51.7M | $25.5M |
净利润HUTSTEM
| Q4 25 | $-279.7M | $-16.0M | ||
| Q3 25 | $50.1M | $-23.8M | ||
| Q2 25 | $137.3M | $202.5M | ||
| Q1 25 | $-133.9M | $-25.0M | ||
| Q4 24 | $152.2M | $-51.1M | ||
| Q3 24 | $647.0K | $-148.3M | ||
| Q2 24 | $-71.9M | $-582.3M | ||
| Q1 24 | $250.9M | $-72.3M |
毛利率HUTSTEM
| Q4 25 | 60.4% | 48.9% | ||
| Q3 25 | 61.3% | 35.5% | ||
| Q2 25 | 47.3% | 33.4% | ||
| Q1 25 | 14.5% | 32.4% | ||
| Q4 24 | 35.9% | -4.4% | ||
| Q3 24 | 59.9% | 21.2% | ||
| Q2 24 | 41.4% | 27.6% | ||
| Q1 24 | 45.6% | -95.0% |
营业利润率HUTSTEM
| Q4 25 | -491.4% | -17.7% | ||
| Q3 25 | 87.0% | -33.6% | ||
| Q2 25 | — | -34.8% | ||
| Q1 25 | -676.8% | -65.0% | ||
| Q4 24 | — | -84.4% | ||
| Q3 24 | -3.6% | -493.2% | ||
| Q2 24 | -246.2% | -1705.5% | ||
| Q1 24 | — | -267.0% |
净利率HUTSTEM
| Q4 25 | -316.0% | -33.9% | ||
| Q3 25 | 60.0% | -62.2% | ||
| Q2 25 | 332.5% | 527.8% | ||
| Q1 25 | -613.7% | -76.9% | ||
| Q4 24 | 480.3% | -91.6% | ||
| Q3 24 | 1.5% | -506.3% | ||
| Q2 24 | -204.1% | -1712.6% | ||
| Q1 24 | 484.9% | -283.9% |
每股收益（稀释后）HUTSTEM
| Q4 25 | $-2.45 | $-4.40 | ||
| Q3 25 | $0.43 | $-2.84 | ||
| Q2 25 | $1.18 | $-1.79 | ||
| Q1 25 | $-1.30 | $-0.15 | ||
| Q4 24 | $1.41 | $-15.29 | ||
| Q3 24 | $0.01 | $-18.24 | ||
| Q2 24 | $-0.78 | $-71.81 | ||
| Q1 24 | $2.76 | $-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 | $44.9M | $48.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.4B | $-249.4M |
| 总资产 | $2.8B | $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HUTSTEM
| Q4 25 | $44.9M | $48.9M | ||
| Q3 25 | $33.5M | $43.1M | ||
| Q2 25 | $216.3M | $40.8M | ||
| Q1 25 | $108.4M | $58.6M | ||
| Q4 24 | $85.0M | $56.3M | ||
| Q3 24 | — | $75.4M | ||
| Q2 24 | — | $89.6M | ||
| Q1 24 | $11.5M | $112.8M |
总债务HUTSTEM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $300.6M | — | ||
| Q3 24 | $297.3M | — | ||
| Q2 24 | $328.8M | — | ||
| Q1 24 | $177.6M | — |
股东权益HUTSTEM
| Q4 25 | $1.4B | $-249.4M | ||
| Q3 25 | $1.4B | $-235.7M | ||
| Q2 25 | $1.3B | $-214.1M | ||
| Q1 25 | $960.0M | $-417.5M | ||
| Q4 24 | $976.7M | $-398.4M | ||
| Q3 24 | $703.9M | $-344.1M | ||
| Q2 24 | $660.1M | $-203.2M | ||
| Q1 24 | $732.0M | $371.6M |
总资产HUTSTEM
| Q4 25 | $2.8B | $308.9M | ||
| Q3 25 | $2.7B | $362.6M | ||
| Q2 25 | $2.0B | $379.2M | ||
| Q1 25 | $1.6B | $405.1M | ||
| Q4 24 | $1.5B | $437.4M | ||
| Q3 24 | $1.1B | $537.8M | ||
| Q2 24 | $1.1B | $691.5M | ||
| Q1 24 | $999.0M | $1.3B |
负债/权益比HUTSTEM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.42× | — | ||
| Q2 24 | 0.50× | — | ||
| Q1 24 | 0.24× | — |
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 | $-139.2M | $8.2M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流HUTSTEM
| Q4 25 | $-139.2M | $8.2M | ||
| Q3 25 | $770.0K | $11.4M | ||
| Q2 25 | $-48.8M | $-21.3M | ||
| Q1 25 | $-33.8M | $8.5M | ||
| Q4 24 | $-68.5M | $-14.7M | ||
| Q3 24 | $-4.2M | $-9.4M | ||
| Q2 24 | $-16.4M | $-11.9M | ||
| Q1 24 | $-26.3M | $-621.0K |
现金转化率HUTSTEM
| Q4 25 | — | — | ||
| Q3 25 | 0.02× | — | ||
| Q2 25 | -0.36× | -0.11× | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.45× | — | ||
| Q3 24 | -6.49× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.11× | — |
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
HUT
| High Performance Computing Colocation And Cloud | $81.9M | 93% |
| Power | $5.0M | 6% |
| Digital Infrastructure | $1.6M | 2% |
STEM
暂无分部数据
