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Ibotta, Inc.（IBTA）与再鼎医药（ZLAB）财务数据对比。点击上方公司名可切换其他公司
再鼎医药的季度营收约是Ibotta, Inc.的1.4倍（$127.1M vs $88.5M），再鼎医药同比增速更快（17.1% vs -10.0%），Ibotta, Inc.自由现金流更多（$20.3M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 3.7%）
Ibotta, Inc.是总部位于美国科罗拉多州丹佛市的移动科技公司，成立于2011年，目前仅在美国开展业务。公司依托自主开发的Ibotta绩效网络与面向消费者的手机应用，为各类消费提供现金返现奖励，同时与快速消费品品牌及网络发行商合作，还推出了返现即服务业务。
再鼎医药是一家创新生物制药企业，专注于肿瘤、自身免疫性疾病、感染性疾病等领域创新疗法的研发、生产与商业化，核心市场覆盖大中华区，与全球多家头部生物科技企业合作，为存在未被满足医疗需求的患者提供治疗方案。
IBTA vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.4倍
$88.5M
营收增速更快
ZLAB
高出27.1%
-10.0%
自由现金流更多
IBTA
多$47.0M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
3.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $88.5M | $127.1M |
| 净利润 | — | — |
| 毛利率 | 78.7% | 51.0% |
| 营业利润率 | -1.9% | -54.6% |
| 净利率 | — | — |
| 营收同比 | -10.0% | 17.1% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $-0.03 | $-0.05 |
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IBTAZLAB
| Q4 25 | $88.5M | $127.1M | ||
| Q3 25 | $83.3M | $115.4M | ||
| Q2 25 | $86.0M | $109.1M | ||
| Q1 25 | $84.6M | $105.7M | ||
| Q4 24 | $98.4M | $108.5M | ||
| Q3 24 | $98.6M | $101.8M | ||
| Q2 24 | $87.9M | $100.1M | ||
| Q1 24 | $82.3M | $87.1M |
净利润IBTAZLAB
| Q4 25 | — | — | ||
| Q3 25 | $1.5M | $-36.0M | ||
| Q2 25 | $2.5M | $-40.7M | ||
| Q1 25 | $555.0K | $-48.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $17.2M | $-41.7M | ||
| Q2 24 | $-34.0M | $-80.3M | ||
| Q1 24 | $9.3M | $-53.5M |
毛利率IBTAZLAB
| Q4 25 | 78.7% | 51.0% | ||
| Q3 25 | 79.4% | 59.5% | ||
| Q2 25 | 79.2% | 60.6% | ||
| Q1 25 | 79.8% | 63.6% | ||
| Q4 24 | 84.6% | 61.5% | ||
| Q3 24 | 87.7% | 64.1% | ||
| Q2 24 | 86.0% | 64.9% | ||
| Q1 24 | 87.2% | 61.4% |
营业利润率IBTAZLAB
| Q4 25 | -1.9% | -54.6% | ||
| Q3 25 | 2.8% | -42.3% | ||
| Q2 25 | 1.4% | -50.3% | ||
| Q1 25 | -3.3% | -53.3% | ||
| Q4 24 | 13.2% | -62.6% | ||
| Q3 24 | 21.0% | -66.6% | ||
| Q2 24 | -24.6% | -76.0% | ||
| Q1 24 | 19.3% | -80.7% |
净利率IBTAZLAB
| Q4 25 | — | — | ||
| Q3 25 | 1.8% | -31.2% | ||
| Q2 25 | 2.9% | -37.3% | ||
| Q1 25 | 0.7% | -45.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | 17.5% | -40.9% | ||
| Q2 24 | -38.6% | -80.2% | ||
| Q1 24 | 11.3% | -61.4% |
每股收益（稀释后）IBTAZLAB
| Q4 25 | $-0.03 | $-0.05 | ||
| Q3 25 | $0.05 | $-0.03 | ||
| Q2 25 | $0.08 | $-0.04 | ||
| Q1 25 | $0.02 | $-0.04 | ||
| Q4 24 | $3.04 | $-0.09 | ||
| Q3 24 | $0.51 | $-0.04 | ||
| Q2 24 | $-1.32 | $-0.08 | ||
| Q1 24 | $0.33 | $-0.05 |
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 | $186.6M | $689.6M |
| 总债务越低越好 | $0 | — |
| 股东权益账面价值 | $287.7M | $715.5M |
| 总资产 | $525.9M | $1.2B |
| 负债/权益比越低杠杆越低 | 0.00× | — |
8季度趋势，按日历期对齐
现金及短期投资IBTAZLAB
| Q4 25 | $186.6M | $689.6M | ||
| Q3 25 | $223.3M | $717.2M | ||
| Q2 25 | $250.5M | $732.2M | ||
| Q1 25 | $297.1M | $757.3M | ||
| Q4 24 | $349.3M | $779.7M | ||
| Q3 24 | $341.3M | $616.1M | ||
| Q2 24 | $317.9M | $630.0M | ||
| Q1 24 | $79.5M | $650.8M |
总债务IBTAZLAB
| Q4 25 | $0 | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | $0 | — | ||
| Q2 24 | $0 | — | ||
| Q1 24 | $65.3M | — |
股东权益IBTAZLAB
| Q4 25 | $287.7M | $715.5M | ||
| Q3 25 | $329.6M | $759.9M | ||
| Q2 25 | $354.1M | $791.7M | ||
| Q1 25 | $401.3M | $810.8M | ||
| Q4 24 | $457.3M | $840.9M | ||
| Q3 24 | $378.0M | $667.7M | ||
| Q2 24 | $359.7M | $704.2M | ||
| Q1 24 | $44.1M | $762.2M |
总资产IBTAZLAB
| Q4 25 | $525.9M | $1.2B | ||
| Q3 25 | $569.4M | $1.2B | ||
| Q2 25 | $600.8M | $1.2B | ||
| Q1 25 | $639.3M | $1.2B | ||
| Q4 24 | $678.4M | $1.2B | ||
| Q3 24 | $598.3M | $985.3M | ||
| Q2 24 | $556.0M | $987.4M | ||
| Q1 24 | $322.1M | $988.4M |
负债/权益比IBTAZLAB
| Q4 25 | 0.00× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 1.48× | — |
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 | $27.8M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $20.3M | $-26.7M |
| 自由现金流率自由现金流/营收 | 22.9% | -21.0% |
| 资本支出强度资本支出/营收 | 8.5% | 0.5% |
| 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 | $75.0M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流IBTAZLAB
| Q4 25 | $27.8M | $-26.0M | ||
| Q3 25 | $21.8M | $-32.0M | ||
| Q2 25 | $25.9M | $-31.0M | ||
| Q1 25 | $19.9M | $-61.7M | ||
| Q4 24 | $22.0M | $-55.8M | ||
| Q3 24 | $39.5M | $-26.8M | ||
| Q2 24 | $35.0M | $-42.2M | ||
| Q1 24 | $19.4M | $-90.1M |
自由现金流IBTAZLAB
| Q4 25 | $20.3M | $-26.7M | ||
| Q3 25 | $14.5M | $-35.0M | ||
| Q2 25 | $22.2M | $-33.9M | ||
| Q1 25 | $18.0M | $-63.2M | ||
| Q4 24 | $21.8M | $-58.4M | ||
| Q3 24 | $39.2M | $-28.2M | ||
| Q2 24 | $34.8M | $-42.9M | ||
| Q1 24 | $19.2M | $-91.1M |
自由现金流率IBTAZLAB
| Q4 25 | 22.9% | -21.0% | ||
| Q3 25 | 17.4% | -30.4% | ||
| Q2 25 | 25.8% | -31.1% | ||
| Q1 25 | 21.2% | -59.9% | ||
| Q4 24 | 22.1% | -53.8% | ||
| Q3 24 | 39.8% | -27.7% | ||
| Q2 24 | 39.6% | -42.9% | ||
| Q1 24 | 23.3% | -104.5% |
资本支出强度IBTAZLAB
| Q4 25 | 8.5% | 0.5% | ||
| Q3 25 | 8.7% | 2.6% | ||
| Q2 25 | 4.2% | 2.6% | ||
| Q1 25 | 2.2% | 1.5% | ||
| Q4 24 | 0.2% | 2.4% | ||
| Q3 24 | 0.3% | 1.3% | ||
| Q2 24 | 0.2% | 0.7% | ||
| Q1 24 | 0.2% | 1.1% |
现金转化率IBTAZLAB
| Q4 25 | — | — | ||
| Q3 25 | 14.19× | — | ||
| Q2 25 | 10.38× | — | ||
| Q1 25 | 35.78× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.29× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.08× | — |
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
IBTA
| Redemption Revenue | $78.5M | 89% |
| Ad Other Revenue | $10.0M | 11% |
| Breakage | $2.1M | 2% |
ZLAB
| Zejula | $56.0M | 44% |
| Other | $21.9M | 17% |
| Nuzyra | $16.0M | 13% |
| Optune | $11.9M | 9% |
| XACDURO | $10.7M | 8% |
| Qinlock | $9.7M | 8% |
| AUGTYRO | $836.0K | 1% |
