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INSMED Inc（INSM）与Ribbon Communications Inc.（RBBN）财务数据对比。点击上方公司名可切换其他公司
INSMED Inc的季度营收约是Ribbon Communications Inc.的1.6倍（$263.8M vs $162.6M），Ribbon Communications Inc.净利率更高（54.8% vs -124.5%，领先179.3%），INSMED Inc同比增速更快（152.6% vs -10.3%），过去两年INSMED Inc的营收复合增速更高（86.9% vs -8.1%）
Insmed Inc.是一家全球性生物制药公司，专注于为存在高度未满足医疗需求的严重罕见病患者开发、商业化创新疗法，核心布局肺部、内分泌类罕见病治疗赛道，服务覆盖北美、欧洲及亚太地区的患者群体。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
INSM vs RBBN — 直观对比
营收规模更大
INSM
是对方的1.6倍
$162.6M
营收增速更快
INSM
高出162.9%
-10.3%
净利率更高
RBBN
高出179.3%
-124.5%
两年增速更快
INSM
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $263.8M | $162.6M |
| 净利润 | $-328.5M | $89.1M |
| 毛利率 | 83.2% | 42.9% |
| 营业利润率 | -121.2% | 37.6% |
| 净利率 | -124.5% | 54.8% |
| 营收同比 | 152.6% | -10.3% |
| 净利润同比 | -39.5% | — |
| 每股收益（稀释后） | $-1.55 | $0.50 |
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INSMRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $263.8M | $227.3M | ||
| Q3 25 | $142.3M | $215.4M | ||
| Q2 25 | $107.4M | $220.6M | ||
| Q1 25 | $92.8M | $181.3M | ||
| Q4 24 | $104.4M | $251.4M | ||
| Q3 24 | $93.4M | $210.2M | ||
| Q2 24 | $90.3M | $192.6M |
净利润INSMRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $-328.5M | — | ||
| Q3 25 | $-370.0M | $-12.1M | ||
| Q2 25 | $-321.7M | $-11.1M | ||
| Q1 25 | $-256.6M | $-26.2M | ||
| Q4 24 | $-235.5M | — | ||
| Q3 24 | $-220.5M | $-13.4M | ||
| Q2 24 | $-300.6M | $-16.8M |
毛利率INSMRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | 83.2% | 53.3% | ||
| Q3 25 | 79.4% | 50.1% | ||
| Q2 25 | 73.9% | 49.6% | ||
| Q1 25 | 77.1% | 45.4% | ||
| Q4 24 | 75.0% | 55.7% | ||
| Q3 24 | 77.3% | 52.1% | ||
| Q2 24 | 76.8% | 50.8% |
营业利润率INSMRBBN
| Q1 26 | — | 37.6% | ||
| Q4 25 | -121.2% | 4.1% | ||
| Q3 25 | -257.1% | 1.3% | ||
| Q2 25 | -291.3% | 1.9% | ||
| Q1 25 | -267.3% | -10.8% | ||
| Q4 24 | -220.6% | 13.2% | ||
| Q3 24 | -228.4% | -0.4% | ||
| Q2 24 | -319.8% | -1.0% |
净利率INSMRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | -124.5% | — | ||
| Q3 25 | -260.0% | -5.6% | ||
| Q2 25 | -299.5% | -5.0% | ||
| Q1 25 | -276.4% | -14.5% | ||
| Q4 24 | -225.5% | — | ||
| Q3 24 | -236.0% | -6.4% | ||
| Q2 24 | -332.8% | -8.7% |
每股收益（稀释后）INSMRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $-1.55 | $0.50 | ||
| Q3 25 | $-1.75 | $-0.07 | ||
| Q2 25 | $-1.70 | $-0.06 | ||
| Q1 25 | $-1.42 | $-0.15 | ||
| Q4 24 | $-1.30 | $0.05 | ||
| Q3 24 | $-1.27 | $-0.08 | ||
| Q2 24 | $-1.94 | $-0.10 |
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 | $1.4B | $67.6M |
| 总债务越低越好 | $546.8M | — |
| 股东权益账面价值 | $739.0M | $419.1M |
| 总资产 | $2.3B | — |
| 负债/权益比越低杠杆越低 | 0.74× | — |
8季度趋势，按日历期对齐
现金及短期投资INSMRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $1.4B | $96.4M | ||
| Q3 25 | $1.7B | $74.8M | ||
| Q2 25 | $1.9B | $60.5M | ||
| Q1 25 | $1.2B | $71.2M | ||
| Q4 24 | $1.4B | $87.8M | ||
| Q3 24 | $1.5B | $37.2M | ||
| Q2 24 | $1.2B | $64.6M |
总债务INSMRBBN
| Q1 26 | — | — | ||
| Q4 25 | $546.8M | $342.1M | ||
| Q3 25 | $546.8M | $344.3M | ||
| Q2 25 | $546.8M | $346.5M | ||
| Q1 25 | $1.1B | $347.4M | ||
| Q4 24 | $1.1B | $348.3M | ||
| Q3 24 | $971.8M | $349.1M | ||
| Q2 24 | $1.2B | $350.0M |
股东权益INSMRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $739.0M | $449.0M | ||
| Q3 25 | $945.6M | $360.1M | ||
| Q2 25 | $1.2B | $370.4M | ||
| Q1 25 | $99.2M | $381.8M | ||
| Q4 24 | $285.4M | $404.6M | ||
| Q3 24 | $483.4M | $395.5M | ||
| Q2 24 | $38.8M | $405.0M |
总资产INSMRBBN
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $1.2B | ||
| Q3 25 | $2.4B | $1.1B | ||
| Q2 25 | $2.5B | $1.1B | ||
| Q1 25 | $1.8B | $1.1B | ||
| Q4 24 | $2.0B | $1.2B | ||
| Q3 24 | $2.1B | $1.1B | ||
| Q2 24 | $1.8B | $1.1B |
负债/权益比INSMRBBN
| Q1 26 | — | — | ||
| Q4 25 | 0.74× | 0.76× | ||
| Q3 25 | 0.58× | 0.96× | ||
| Q2 25 | 0.44× | 0.94× | ||
| Q1 25 | 11.31× | 0.91× | ||
| Q4 24 | 3.93× | 0.86× | ||
| Q3 24 | 2.01× | 0.88× | ||
| Q2 24 | 30.66× | 0.86× |
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 | $-247.6M | — |
| 自由现金流经营现金流 - 资本支出 | $-264.2M | — |
| 自由现金流率自由现金流/营收 | -100.1% | — |
| 资本支出强度资本支出/营收 | 6.3% | — |
| 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 | $-967.6M | — |
8季度趋势，按日历期对齐
经营现金流INSMRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-247.6M | $29.2M | ||
| Q3 25 | $-219.8M | $26.5M | ||
| Q2 25 | $-205.6M | $-795.0K | ||
| Q1 25 | $-262.1M | $-3.5M | ||
| Q4 24 | $-196.0M | $61.8M | ||
| Q3 24 | $-180.9M | $-14.8M | ||
| Q2 24 | $-123.0M | $-9.8M |
自由现金流INSMRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-264.2M | $27.3M | ||
| Q3 25 | $-222.2M | $21.0M | ||
| Q2 25 | $-209.1M | $-6.5M | ||
| Q1 25 | $-272.2M | $-15.7M | ||
| Q4 24 | $-202.8M | $53.8M | ||
| Q3 24 | $-184.6M | $-23.7M | ||
| Q2 24 | $-129.7M | $-12.9M |
自由现金流率INSMRBBN
| Q1 26 | — | — | ||
| Q4 25 | -100.1% | 12.0% | ||
| Q3 25 | -156.1% | 9.7% | ||
| Q2 25 | -194.6% | -2.9% | ||
| Q1 25 | -293.2% | -8.7% | ||
| Q4 24 | -194.1% | 21.4% | ||
| Q3 24 | -197.6% | -11.3% | ||
| Q2 24 | -143.6% | -6.7% |
资本支出强度INSMRBBN
| Q1 26 | — | — | ||
| Q4 25 | 6.3% | 0.9% | ||
| Q3 25 | 1.7% | 2.6% | ||
| Q2 25 | 3.2% | 2.6% | ||
| Q1 25 | 10.8% | 6.7% | ||
| Q4 24 | 6.5% | 3.2% | ||
| Q3 24 | 3.9% | 4.2% | ||
| Q2 24 | 7.5% | 1.6% |
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
INSM
暂无分部数据
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
