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INSMED Inc（INSM）与Rocket Lab Corp（RKLB）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Rocket Lab Corp的1.5倍（$263.8M vs $179.7M），Rocket Lab Corp净利率更高（-29.5% vs -124.5%，领先95.0%），INSMED Inc同比增速更快（152.6% vs 35.7%），Rocket Lab Corp自由现金流更多（$-114.2M vs $-264.2M），过去两年INSMED Inc的营收复合增速更高（86.9% vs 39.2%）
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。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
INSM vs RKLB — 直观对比
营收规模更大
INSM
是对方的1.5倍
$179.7M
营收增速更快
INSM
高出116.9%
35.7%
净利率更高
RKLB
高出95.0%
-124.5%
自由现金流更多
RKLB
多$150.0M
$-264.2M
两年增速更快
INSM
近两年复合增速
39.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $263.8M | $179.7M |
| 净利润 | $-328.5M | $-52.9M |
| 毛利率 | 83.2% | 38.0% |
| 营业利润率 | -121.2% | -28.4% |
| 净利率 | -124.5% | -29.5% |
| 营收同比 | 152.6% | 35.7% |
| 净利润同比 | -39.5% | -1.1% |
| 每股收益（稀释后） | $-1.55 | $-0.09 |
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INSMRKLB
| Q4 25 | $263.8M | $179.7M | ||
| Q3 25 | $142.3M | $155.1M | ||
| Q2 25 | $107.4M | $144.5M | ||
| Q1 25 | $92.8M | $122.6M | ||
| Q4 24 | $104.4M | $132.4M | ||
| Q3 24 | $93.4M | $104.8M | ||
| Q2 24 | $90.3M | $106.3M | ||
| Q1 24 | $75.5M | $92.8M |
净利润INSMRKLB
| Q4 25 | $-328.5M | $-52.9M | ||
| Q3 25 | $-370.0M | $-18.3M | ||
| Q2 25 | $-321.7M | $-66.4M | ||
| Q1 25 | $-256.6M | $-60.6M | ||
| Q4 24 | $-235.5M | $-52.3M | ||
| Q3 24 | $-220.5M | $-51.9M | ||
| Q2 24 | $-300.6M | $-41.6M | ||
| Q1 24 | $-157.1M | $-44.3M |
毛利率INSMRKLB
| Q4 25 | 83.2% | 38.0% | ||
| Q3 25 | 79.4% | 37.0% | ||
| Q2 25 | 73.9% | 32.1% | ||
| Q1 25 | 77.1% | 28.8% | ||
| Q4 24 | 75.0% | 27.8% | ||
| Q3 24 | 77.3% | 26.7% | ||
| Q2 24 | 76.8% | 25.6% | ||
| Q1 24 | 76.9% | 26.1% |
营业利润率INSMRKLB
| Q4 25 | -121.2% | -28.4% | ||
| Q3 25 | -257.1% | -38.0% | ||
| Q2 25 | -291.3% | -41.3% | ||
| Q1 25 | -267.3% | -48.3% | ||
| Q4 24 | -220.6% | -38.9% | ||
| Q3 24 | -228.4% | -49.5% | ||
| Q2 24 | -319.8% | -40.7% | ||
| Q1 24 | -192.7% | -46.4% |
净利率INSMRKLB
| Q4 25 | -124.5% | -29.5% | ||
| Q3 25 | -260.0% | -11.8% | ||
| Q2 25 | -299.5% | -46.0% | ||
| Q1 25 | -276.4% | -49.5% | ||
| Q4 24 | -225.5% | -39.5% | ||
| Q3 24 | -236.0% | -49.6% | ||
| Q2 24 | -332.8% | -39.2% | ||
| Q1 24 | -208.1% | -47.7% |
每股收益（稀释后）INSMRKLB
| Q4 25 | $-1.55 | $-0.09 | ||
| Q3 25 | $-1.75 | $-0.03 | ||
| Q2 25 | $-1.70 | $-0.13 | ||
| Q1 25 | $-1.42 | $-0.12 | ||
| Q4 24 | $-1.30 | $-0.11 | ||
| Q3 24 | $-1.27 | $-0.10 | ||
| Q2 24 | $-1.94 | $-0.08 | ||
| Q1 24 | $-1.06 | $-0.09 |
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 | $1.0B |
| 总债务越低越好 | $546.8M | $152.4M |
| 股东权益账面价值 | $739.0M | $1.7B |
| 总资产 | $2.3B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.74× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资INSMRKLB
| Q4 25 | $1.4B | $1.0B | ||
| Q3 25 | $1.7B | $976.7M | ||
| Q2 25 | $1.9B | $688.1M | ||
| Q1 25 | $1.2B | $428.4M | ||
| Q4 24 | $1.4B | $419.0M | ||
| Q3 24 | $1.5B | $442.4M | ||
| Q2 24 | $1.2B | $496.8M | ||
| Q1 24 | $595.7M | $492.5M |
总债务INSMRKLB
| Q4 25 | $546.8M | $152.4M | ||
| Q3 25 | $546.8M | $347.0M | ||
| Q2 25 | $546.8M | $346.5M | ||
| Q1 25 | $1.1B | $345.9M | ||
| Q4 24 | $1.1B | $345.4M | ||
| Q3 24 | $971.8M | $61.2M | ||
| Q2 24 | $1.2B | $64.2M | ||
| Q1 24 | $1.2B | $66.8M |
股东权益INSMRKLB
| Q4 25 | $739.0M | $1.7B | ||
| Q3 25 | $945.6M | $1.3B | ||
| Q2 25 | $1.2B | $688.5M | ||
| Q1 25 | $99.2M | $431.3M | ||
| Q4 24 | $285.4M | $382.5M | ||
| Q3 24 | $483.4M | $419.8M | ||
| Q2 24 | $38.8M | $455.2M | ||
| Q1 24 | $-464.8M | $478.9M |
总资产INSMRKLB
| Q4 25 | $2.3B | $2.3B | ||
| Q3 25 | $2.4B | $2.2B | ||
| Q2 25 | $2.5B | $1.6B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $2.0B | $1.2B | ||
| Q3 24 | $2.1B | $1.2B | ||
| Q2 24 | $1.8B | $1.2B | ||
| Q1 24 | $1.2B | $1.2B |
负债/权益比INSMRKLB
| Q4 25 | 0.74× | 0.09× | ||
| Q3 25 | 0.58× | 0.27× | ||
| Q2 25 | 0.44× | 0.50× | ||
| Q1 25 | 11.31× | 0.80× | ||
| Q4 24 | 3.93× | 0.90× | ||
| Q3 24 | 2.01× | 0.15× | ||
| Q2 24 | 30.66× | 0.14× | ||
| Q1 24 | — | 0.14× |
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 | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $-264.2M | $-114.2M |
| 自由现金流率自由现金流/营收 | -100.1% | -63.6% |
| 资本支出强度资本支出/营收 | 6.3% | 27.6% |
| 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 | $-321.8M |
8季度趋势，按日历期对齐
经营现金流INSMRKLB
| Q4 25 | $-247.6M | $-64.5M | ||
| Q3 25 | $-219.8M | $-23.5M | ||
| Q2 25 | $-205.6M | $-23.2M | ||
| Q1 25 | $-262.1M | $-54.2M | ||
| Q4 24 | $-196.0M | $-2.4M | ||
| Q3 24 | $-180.9M | $-30.9M | ||
| Q2 24 | $-123.0M | $-13.0M | ||
| Q1 24 | $-184.0M | $-2.6M |
自由现金流INSMRKLB
| Q4 25 | $-264.2M | $-114.2M | ||
| Q3 25 | $-222.2M | $-69.4M | ||
| Q2 25 | $-209.1M | $-55.3M | ||
| Q1 25 | $-272.2M | $-82.9M | ||
| Q4 24 | $-202.8M | $-23.9M | ||
| Q3 24 | $-184.6M | $-41.9M | ||
| Q2 24 | $-129.7M | $-28.3M | ||
| Q1 24 | $-188.7M | $-21.8M |
自由现金流率INSMRKLB
| Q4 25 | -100.1% | -63.6% | ||
| Q3 25 | -156.1% | -44.8% | ||
| Q2 25 | -194.6% | -38.3% | ||
| Q1 25 | -293.2% | -67.6% | ||
| Q4 24 | -194.1% | -18.1% | ||
| Q3 24 | -197.6% | -40.0% | ||
| Q2 24 | -143.6% | -26.7% | ||
| Q1 24 | -250.0% | -23.5% |
资本支出强度INSMRKLB
| Q4 25 | 6.3% | 27.6% | ||
| Q3 25 | 1.7% | 29.6% | ||
| Q2 25 | 3.2% | 22.2% | ||
| Q1 25 | 10.8% | 23.4% | ||
| Q4 24 | 6.5% | 16.3% | ||
| Q3 24 | 3.9% | 10.5% | ||
| Q2 24 | 7.5% | 14.4% | ||
| Q1 24 | 6.2% | 20.7% |
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
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
