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牛津地产（IIPR）与Vericel Corp（VCEL）财务数据对比。点击上方公司名可切换其他公司
Vericel Corp的季度营收约是牛津地产的1.4倍（$92.9M vs $66.7M），牛津地产净利率更高（47.8% vs 25.0%，领先22.8%），Vericel Corp同比增速更快（23.3% vs -13.1%），过去两年Vericel Corp的营收复合增速更高（34.6% vs -6.0%）
牛津地产是一家加拿大跨国企业，业务涵盖房地产投资、开发与物业管理。其投资组合包含写字楼、零售、工业、多户住宅、生命科学及酒店类资产。该公司1960年以私营企业形式创立，自2003年起成为安大略省市政雇员退休系统（OMERS）的全资子公司，总部设于多伦多，在纽约、伦敦、澳大利亚、新加坡及卢森堡均设有区域总部。
Vericel Corp是一家美国上市生物制药企业，前身为1989年在密歇根州安娜堡成立的Aastrom Bio，2014年10月正式更为现名，专注于生物制药相关领域的研发与商业化运营。
IIPR vs VCEL — 直观对比
营收规模更大
VCEL
是对方的1.4倍
$66.7M
营收增速更快
VCEL
高出36.4%
-13.1%
净利率更高
IIPR
高出22.8%
25.0%
两年增速更快
VCEL
近两年复合增速
-6.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $66.7M | $92.9M |
| 净利润 | $31.8M | $23.2M |
| 毛利率 | — | 78.7% |
| 营业利润率 | 47.8% | 24.1% |
| 净利率 | 47.8% | 25.0% |
| 营收同比 | -13.1% | 23.3% |
| 净利润同比 | -20.4% | 17.3% |
| 每股收益（稀释后） | $1.07 | $0.46 |
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IIPRVCEL
| Q4 25 | $66.7M | $92.9M | ||
| Q3 25 | $64.7M | $67.5M | ||
| Q2 25 | $62.9M | $63.2M | ||
| Q1 25 | $71.7M | $52.6M | ||
| Q4 24 | $76.7M | $75.4M | ||
| Q3 24 | $76.5M | $57.9M | ||
| Q2 24 | $79.8M | $52.7M | ||
| Q1 24 | $75.5M | $51.3M |
净利润IIPRVCEL
| Q4 25 | $31.8M | $23.2M | ||
| Q3 25 | $29.3M | $5.1M | ||
| Q2 25 | $26.0M | $-553.0K | ||
| Q1 25 | $31.1M | $-11.2M | ||
| Q4 24 | $40.0M | $19.8M | ||
| Q3 24 | $40.2M | $-901.0K | ||
| Q2 24 | $42.0M | $-4.7M | ||
| Q1 24 | $39.4M | $-3.9M |
毛利率IIPRVCEL
| Q4 25 | — | 78.7% | ||
| Q3 25 | — | 73.5% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 69.0% | ||
| Q4 24 | — | 77.6% | ||
| Q3 24 | — | 71.9% | ||
| Q2 24 | — | 69.5% | ||
| Q1 24 | — | 68.9% |
营业利润率IIPRVCEL
| Q4 25 | 47.8% | 24.1% | ||
| Q3 25 | 45.5% | 5.1% | ||
| Q2 25 | 45.9% | -3.2% | ||
| Q1 25 | 47.4% | -24.3% | ||
| Q4 24 | 54.7% | 24.5% | ||
| Q3 24 | 54.8% | -4.3% | ||
| Q2 24 | 53.1% | -11.5% | ||
| Q1 24 | 55.7% | -10.7% |
净利率IIPRVCEL
| Q4 25 | 47.8% | 25.0% | ||
| Q3 25 | 45.3% | 7.5% | ||
| Q2 25 | 41.4% | -0.9% | ||
| Q1 25 | 43.3% | -21.4% | ||
| Q4 24 | 52.2% | 26.3% | ||
| Q3 24 | 52.6% | -1.6% | ||
| Q2 24 | 52.6% | -8.9% | ||
| Q1 24 | 52.3% | -7.5% |
每股收益（稀释后）IIPRVCEL
| Q4 25 | $1.07 | $0.46 | ||
| Q3 25 | $0.97 | $0.10 | ||
| Q2 25 | $0.86 | $-0.01 | ||
| Q1 25 | $1.03 | $-0.23 | ||
| Q4 24 | $1.35 | $0.40 | ||
| Q3 24 | $1.37 | $-0.02 | ||
| Q2 24 | $1.44 | $-0.10 | ||
| Q1 24 | $1.36 | $-0.08 |
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 | $47.6M | $137.5M |
| 总债务越低越好 | $393.7M | — |
| 股东权益账面价值 | $1.8B | $354.6M |
| 总资产 | $2.4B | $488.0M |
| 负债/权益比越低杠杆越低 | 0.21× | — |
8季度趋势，按日历期对齐
现金及短期投资IIPRVCEL
| Q4 25 | $47.6M | $137.5M | ||
| Q3 25 | $41.9M | $135.4M | ||
| Q2 25 | $104.9M | $116.9M | ||
| Q1 25 | $133.3M | $112.9M | ||
| Q4 24 | $151.2M | $116.2M | ||
| Q3 24 | $172.4M | $101.7M | ||
| Q2 24 | $160.9M | $102.5M | ||
| Q1 24 | $173.5M | $110.6M |
总债务IIPRVCEL
| Q4 25 | $393.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IIPRVCEL
| Q4 25 | $1.8B | $354.6M | ||
| Q3 25 | $1.9B | $321.9M | ||
| Q2 25 | $1.9B | $306.8M | ||
| Q1 25 | $1.9B | $295.5M | ||
| Q4 24 | $1.9B | $292.0M | ||
| Q3 24 | $1.9B | $257.5M | ||
| Q2 24 | $1.9B | $243.0M | ||
| Q1 24 | $2.0B | $233.9M |
总资产IIPRVCEL
| Q4 25 | $2.4B | $488.0M | ||
| Q3 25 | $2.3B | $453.3M | ||
| Q2 25 | $2.3B | $435.6M | ||
| Q1 25 | $2.4B | $424.6M | ||
| Q4 24 | $2.4B | $432.7M | ||
| Q3 24 | $2.4B | $390.4M | ||
| Q2 24 | $2.4B | $376.8M | ||
| Q1 24 | $2.4B | $356.7M |
负债/权益比IIPRVCEL
| Q4 25 | 0.21× | — | ||
| Q3 25 | — | — | ||
| 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 | $198.2M | $15.0M |
| 自由现金流经营现金流 - 资本支出 | — | $12.8M |
| 自由现金流率自由现金流/营收 | — | 13.8% |
| 资本支出强度资本支出/营收 | — | 2.4% |
| 现金转化率经营现金流/净利润 | 6.22× | 0.65× |
| 过去12个月自由现金流最近4个季度 | — | $24.7M |
8季度趋势，按日历期对齐
经营现金流IIPRVCEL
| Q4 25 | $198.2M | $15.0M | ||
| Q3 25 | $45.6M | $22.1M | ||
| Q2 25 | $48.4M | $8.2M | ||
| Q1 25 | $54.2M | $6.6M | ||
| Q4 24 | $258.4M | $22.2M | ||
| Q3 24 | $64.9M | $10.2M | ||
| Q2 24 | $64.2M | $18.5M | ||
| Q1 24 | $71.6M | $7.2M |
自由现金流IIPRVCEL
| Q4 25 | — | $12.8M | ||
| Q3 25 | — | $19.5M | ||
| Q2 25 | — | $81.0K | ||
| Q1 25 | — | $-7.6M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | — | $-9.2M | ||
| Q2 24 | — | $1.8M | ||
| Q1 24 | — | $-6.8M |
自由现金流率IIPRVCEL
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | -14.5% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | -15.9% | ||
| Q2 24 | — | 3.4% | ||
| Q1 24 | — | -13.3% |
资本支出强度IIPRVCEL
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 27.0% | ||
| Q4 24 | — | 18.3% | ||
| Q3 24 | — | 33.5% | ||
| Q2 24 | — | 31.8% | ||
| Q1 24 | — | 27.3% |
现金转化率IIPRVCEL
| Q4 25 | 6.22× | 0.65× | ||
| Q3 25 | 1.56× | 4.35× | ||
| Q2 25 | 1.86× | — | ||
| Q1 25 | 1.75× | — | ||
| Q4 24 | 6.46× | 1.12× | ||
| Q3 24 | 1.61× | — | ||
| Q2 24 | 1.53× | — | ||
| Q1 24 | 1.82× | — |
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
IIPR
暂无分部数据
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
