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IHS Holding Ltd（IHS）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
IHS Holding Ltd的季度营收约是再鼎医药的2.0倍（$254.0M vs $127.1M），再鼎医药同比增速更快（17.1% vs 0.1%），IHS Holding Ltd自由现金流更多（$178.6M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs -22.0%）
IHS Holding是全球规模领先的共享通信基础设施独立持有、运营及开发企业之一，也是全球第五大独立跨国通信铁塔企业，业务覆盖非洲与拉美地区，为当地通信网络部署提供关键的铁塔基础设施支持。
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。
IHS vs ZLAB — 直观对比
营收规模更大
IHS
是对方的2.0倍
$127.1M
营收增速更快
ZLAB
高出17.0%
0.1%
自由现金流更多
IHS
多$205.3M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
-22.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $254.0M | $127.1M |
| 净利润 | — | — |
| 毛利率 | 83.6% | 51.0% |
| 营业利润率 | — | -54.6% |
| 净利率 | — | — |
| 营收同比 | 0.1% | 17.1% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | — | $-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IHSZLAB
| Q4 25 | $254.0M | $127.1M | ||
| Q3 25 | $455.1M | $115.4M | ||
| Q2 25 | $433.3M | $109.1M | ||
| Q1 25 | $439.6M | $105.7M | ||
| Q4 24 | $253.8M | $108.5M | ||
| Q3 24 | $420.3M | $101.8M | ||
| Q2 24 | $435.4M | $100.1M | ||
| Q1 24 | $417.7M | $87.1M |
净利润IHSZLAB
| Q4 25 | — | — | ||
| Q3 25 | $147.4M | $-36.0M | ||
| Q2 25 | $32.3M | $-40.7M | ||
| Q1 25 | $30.7M | $-48.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-205.7M | $-41.7M | ||
| Q2 24 | $-124.3M | $-80.3M | ||
| Q1 24 | $-1.6B | $-53.5M |
毛利率IHSZLAB
| Q4 25 | 83.6% | 51.0% | ||
| Q3 25 | 47.5% | 59.5% | ||
| Q2 25 | 51.3% | 60.6% | ||
| Q1 25 | 51.4% | 63.6% | ||
| Q4 24 | 72.1% | 61.5% | ||
| Q3 24 | 52.0% | 64.1% | ||
| Q2 24 | 52.5% | 64.9% | ||
| Q1 24 | 39.1% | 61.4% |
营业利润率IHSZLAB
| Q4 25 | — | -54.6% | ||
| Q3 25 | 35.1% | -42.3% | ||
| Q2 25 | 33.8% | -50.3% | ||
| Q1 25 | 37.1% | -53.3% | ||
| Q4 24 | — | -62.6% | ||
| Q3 24 | 29.9% | -66.6% | ||
| Q2 24 | 34.0% | -76.0% | ||
| Q1 24 | -1.7% | -80.7% |
净利率IHSZLAB
| Q4 25 | — | — | ||
| Q3 25 | 32.4% | -31.2% | ||
| Q2 25 | 7.5% | -37.3% | ||
| Q1 25 | 7.0% | -45.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | -48.9% | -40.9% | ||
| Q2 24 | -28.5% | -80.2% | ||
| Q1 24 | -372.8% | -61.4% |
每股收益（稀释后）IHSZLAB
| Q4 25 | — | $-0.05 | ||
| Q3 25 | $0.44 | $-0.03 | ||
| Q2 25 | $0.10 | $-0.04 | ||
| Q1 25 | $0.10 | $-0.04 | ||
| Q4 24 | — | $-0.09 | ||
| Q3 24 | $-0.61 | $-0.04 | ||
| Q2 24 | $-0.36 | $-0.08 | ||
| Q1 24 | $-4.67 | $-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 | $825.7M | $689.6M |
| 总债务越低越好 | $3.1B | — |
| 股东权益账面价值 | $-89.8M | $715.5M |
| 总资产 | $4.5B | $1.2B |
| 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IHSZLAB
| Q4 25 | $825.7M | $689.6M | ||
| Q3 25 | $647.6M | $717.2M | ||
| Q2 25 | $531.8M | $732.2M | ||
| Q1 25 | $629.0M | $757.3M | ||
| Q4 24 | $578.0M | $779.7M | ||
| Q3 24 | $397.5M | $616.1M | ||
| Q2 24 | $445.7M | $630.0M | ||
| Q1 24 | $333.2M | $650.8M |
总债务IHSZLAB
| Q4 25 | $3.1B | — | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $3.5B | — | ||
| Q2 24 | $3.6B | — | ||
| Q1 24 | $3.5B | — |
股东权益IHSZLAB
| Q4 25 | $-89.8M | $715.5M | ||
| Q3 25 | $38.1M | $759.9M | ||
| Q2 25 | $-98.4M | $791.7M | ||
| Q1 25 | $-184.4M | $810.8M | ||
| Q4 24 | $-314.4M | $840.9M | ||
| Q3 24 | $-284.7M | $667.7M | ||
| Q2 24 | $-308.3M | $704.2M | ||
| Q1 24 | $-163.2M | $762.2M |
总资产IHSZLAB
| Q4 25 | $4.5B | $1.2B | ||
| Q3 25 | $4.7B | $1.2B | ||
| Q2 25 | $4.5B | $1.2B | ||
| Q1 25 | $4.4B | $1.2B | ||
| Q4 24 | $4.2B | $1.2B | ||
| Q3 24 | $4.6B | $985.3M | ||
| Q2 24 | $4.5B | $987.4M | ||
| Q1 24 | $4.6B | $988.4M |
负债/权益比IHSZLAB
| Q4 25 | — | — | ||
| Q3 25 | 85.85× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | $246.9M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $178.6M | $-26.7M |
| 自由现金流率自由现金流/营收 | 70.3% | -21.0% |
| 资本支出强度资本支出/营收 | 26.9% | 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 | $718.7M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流IHSZLAB
| Q4 25 | $246.9M | $-26.0M | ||
| Q3 25 | $251.3M | $-32.0M | ||
| Q2 25 | $237.7M | $-31.0M | ||
| Q1 25 | $200.3M | $-61.7M | ||
| Q4 24 | $344.4M | $-55.8M | ||
| Q3 24 | $174.5M | $-26.8M | ||
| Q2 24 | $134.7M | $-42.2M | ||
| Q1 24 | $75.8M | $-90.1M |
自由现金流IHSZLAB
| Q4 25 | $178.6M | $-26.7M | ||
| Q3 25 | $189.2M | $-35.0M | ||
| Q2 25 | $197.7M | $-33.9M | ||
| Q1 25 | $153.2M | $-63.2M | ||
| Q4 24 | $282.9M | $-58.4M | ||
| Q3 24 | $122.3M | $-28.2M | ||
| Q2 24 | $74.2M | $-42.9M | ||
| Q1 24 | $14.8M | $-91.1M |
自由现金流率IHSZLAB
| Q4 25 | 70.3% | -21.0% | ||
| Q3 25 | 41.6% | -30.4% | ||
| Q2 25 | 45.6% | -31.1% | ||
| Q1 25 | 34.8% | -59.9% | ||
| Q4 24 | 111.5% | -53.8% | ||
| Q3 24 | 29.1% | -27.7% | ||
| Q2 24 | 17.0% | -42.9% | ||
| Q1 24 | 3.5% | -104.5% |
资本支出强度IHSZLAB
| Q4 25 | 26.9% | 0.5% | ||
| Q3 25 | 13.6% | 2.6% | ||
| Q2 25 | 9.2% | 2.6% | ||
| Q1 25 | 10.7% | 1.5% | ||
| Q4 24 | 24.2% | 2.4% | ||
| Q3 24 | 12.4% | 1.3% | ||
| Q2 24 | 13.9% | 0.7% | ||
| Q1 24 | 14.6% | 1.1% |
现金转化率IHSZLAB
| Q4 25 | — | — | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 7.36× | — | ||
| Q1 25 | 6.52× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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
IHS
暂无分部数据
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% |
