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因美纳（ILMN）与RH（RH）财务数据对比。点击上方公司名可切换其他公司
因美纳的季度营收约是RH的1.3倍（$1.2B vs $883.8M），因美纳净利率更高（28.8% vs 4.1%，领先24.7%），RH同比增速更快（8.9% vs 5.0%），因美纳自由现金流更多（$267.0M vs $83.0M），过去两年RH的营收复合增速更高（9.4% vs -0.7%）
因美纳是总部位于美国加利福尼亚州圣迭戈的生物技术企业，成立于1998年4月，专注研发、生产及销售用于分析基因变异与生物功能的集成系统，产品及服务覆盖测序、基因分型、基因表达、蛋白质组学等领域，业务遍及全球超155个国家和地区。
RH是美国高端家居品牌，总部位于加利福尼亚州科尔特马德拉。品牌通过线下零售门店、产品目录和线上渠道发售家居商品，截至2018年8月，在美国和加拿大共运营70家展示馆、18家全系列设计展示馆、3家婴童家居展示馆，另有36家奥莱门店。
ILMN vs RH — 直观对比
营收规模更大
ILMN
是对方的1.3倍
$883.8M
营收增速更快
RH
高出3.9%
5.0%
净利率更高
ILMN
高出24.7%
4.1%
自由现金流更多
ILMN
多$184.0M
$83.0M
两年增速更快
RH
近两年复合增速
-0.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $883.8M |
| 净利润 | $334.0M | $36.3M |
| 毛利率 | 65.5% | 44.1% |
| 营业利润率 | 17.4% | 12.0% |
| 净利率 | 28.8% | 4.1% |
| 营收同比 | 5.0% | 8.9% |
| 净利润同比 | 185.5% | 9.3% |
| 每股收益（稀释后） | $2.16 | $1.83 |
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ILMNRH
| Q4 25 | $1.2B | $883.8M | ||
| Q3 25 | — | $899.2M | ||
| Q2 25 | — | $814.0M | ||
| Q1 25 | — | $812.4M | ||
| Q4 24 | $1.1B | $811.7M | ||
| Q3 24 | $1.1B | $829.7M | ||
| Q2 24 | $1.1B | $727.0M | ||
| Q1 24 | $1.1B | $738.3M |
净利润ILMNRH
| Q4 25 | $334.0M | $36.3M | ||
| Q3 25 | — | $51.7M | ||
| Q2 25 | — | $8.0M | ||
| Q1 25 | — | $13.9M | ||
| Q4 24 | $186.0M | $33.2M | ||
| Q3 24 | $705.0M | $29.0M | ||
| Q2 24 | $-2.0B | $-3.6M | ||
| Q1 24 | $-126.0M | $11.4M |
毛利率ILMNRH
| Q4 25 | 65.5% | 44.1% | ||
| Q3 25 | — | 45.5% | ||
| Q2 25 | — | 43.7% | ||
| Q1 25 | — | 44.7% | ||
| Q4 24 | 65.9% | 44.5% | ||
| Q3 24 | 69.0% | 45.2% | ||
| Q2 24 | 64.8% | 43.5% | ||
| Q1 24 | 62.0% | 43.5% |
营业利润率ILMNRH
| Q4 25 | 17.4% | 12.0% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 6.9% | ||
| Q1 25 | — | 8.7% | ||
| Q4 24 | 15.8% | 12.5% | ||
| Q3 24 | 68.6% | 11.6% | ||
| Q2 24 | -147.2% | 7.5% | ||
| Q1 24 | -10.3% | 8.7% |
净利率ILMNRH
| Q4 25 | 28.8% | 4.1% | ||
| Q3 25 | — | 5.8% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | 16.8% | 4.1% | ||
| Q3 24 | 65.3% | 3.5% | ||
| Q2 24 | -178.8% | -0.5% | ||
| Q1 24 | -11.7% | 1.5% |
每股收益（稀释后）ILMNRH
| Q4 25 | $2.16 | $1.83 | ||
| Q3 25 | — | $2.62 | ||
| Q2 25 | — | $0.40 | ||
| Q1 25 | — | $0.71 | ||
| Q4 24 | $1.16 | $1.66 | ||
| Q3 24 | $4.42 | $1.45 | ||
| Q2 24 | $-12.48 | $-0.20 | ||
| Q1 24 | $-0.79 | $0.91 |
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 | $1.6B | $43.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.7B | $3.3M |
| 总资产 | $6.6B | $4.8B |
| 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ILMNRH
| Q4 25 | $1.6B | $43.1M | ||
| Q3 25 | — | $34.6M | ||
| Q2 25 | — | $46.1M | ||
| Q1 25 | — | $30.4M | ||
| Q4 24 | $93.0M | $87.0M | ||
| Q3 24 | $70.0M | $78.3M | ||
| Q2 24 | $74.0M | $101.8M | ||
| Q1 24 | — | $123.7M |
股东权益ILMNRH
| Q4 25 | $2.7B | $3.3M | ||
| Q3 25 | — | $-40.9M | ||
| Q2 25 | — | $-110.8M | ||
| Q1 25 | — | $-163.6M | ||
| Q4 24 | $2.4B | $-183.0M | ||
| Q3 24 | $2.1B | $-234.7M | ||
| Q2 24 | $1.4B | $-289.9M | ||
| Q1 24 | $5.7B | $-297.4M |
总资产ILMNRH
| Q4 25 | $6.6B | $4.8B | ||
| Q3 25 | — | $4.7B | ||
| Q2 25 | — | $4.7B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | $6.3B | $4.5B | ||
| Q3 24 | $6.0B | $4.4B | ||
| Q2 24 | $6.1B | $4.2B | ||
| Q1 24 | $10.0B | $4.1B |
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 | $321.0M | $131.9M |
| 自由现金流经营现金流 - 资本支出 | $267.0M | $83.0M |
| 自由现金流率自由现金流/营收 | 23.0% | 9.4% |
| 资本支出强度资本支出/营收 | — | 5.5% |
| 现金转化率经营现金流/净利润 | 0.96× | 3.64× |
| 过去12个月自由现金流最近4个季度 | $935.0M | $128.1M |
8季度趋势，按日历期对齐
经营现金流ILMNRH
| Q4 25 | $321.0M | $131.9M | ||
| Q3 25 | — | $137.7M | ||
| Q2 25 | — | $86.6M | ||
| Q1 25 | — | $-18.8M | ||
| Q4 24 | $364.0M | $-31.4M | ||
| Q3 24 | $316.0M | $11.2M | ||
| Q2 24 | $80.0M | $56.1M | ||
| Q1 24 | $77.0M | $-114.0M |
自由现金流ILMNRH
| Q4 25 | $267.0M | $83.0M | ||
| Q3 25 | — | $80.7M | ||
| Q2 25 | — | $34.1M | ||
| Q1 25 | — | $-69.7M | ||
| Q4 24 | $335.0M | $-96.0M | ||
| Q3 24 | $284.0M | $-37.9M | ||
| Q2 24 | $49.0M | $-10.1M | ||
| Q1 24 | $41.0M | $-251.5M |
自由现金流率ILMNRH
| Q4 25 | 23.0% | 9.4% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | — | 4.2% | ||
| Q1 25 | — | -8.6% | ||
| Q4 24 | 30.3% | -11.8% | ||
| Q3 24 | 26.3% | -4.6% | ||
| Q2 24 | 4.4% | -1.4% | ||
| Q1 24 | 3.8% | -34.1% |
资本支出强度ILMNRH
| Q4 25 | — | 5.5% | ||
| Q3 25 | — | 6.3% | ||
| Q2 25 | — | 6.5% | ||
| Q1 25 | — | 6.3% | ||
| Q4 24 | 2.6% | 8.0% | ||
| Q3 24 | 3.0% | 5.9% | ||
| Q2 24 | 2.8% | 9.1% | ||
| Q1 24 | 3.3% | 18.6% |
现金转化率ILMNRH
| Q4 25 | 0.96× | 3.64× | ||
| Q3 25 | — | 2.66× | ||
| Q2 25 | — | 10.78× | ||
| Q1 25 | — | -1.35× | ||
| Q4 24 | 1.96× | -0.95× | ||
| Q3 24 | 0.45× | 0.39× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -10.01× |
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
ILMN
| Product revenue | $990.0M | 85% |
| Service and other revenue | $169.0M | 15% |
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
