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IONIS PHARMACEUTICALS INC（IONS）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
世纪互联的季度营收约是IONIS PHARMACEUTICALS INC的1.8倍（$362.7M vs $203.3M），世纪互联净利率更高（-10.7% vs -112.8%，领先102.2%），IONIS PHARMACEUTICALS INC自由现金流更多（$-159.0M vs $-193.1M），过去两年IONIS PHARMACEUTICALS INC的营收复合增速更高（30.4% vs 17.4%）
IONIS制药是1989年成立的生物科技企业，总部位于美国加利福尼亚州卡尔斯巴德，专注于反义疗法、RNA干扰及CRISPR疗法的研发，2015年12月前曾以Isis制药的名称运营。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
IONS vs VNET — 直观对比
营收规模更大
VNET
是对方的1.8倍
$203.3M
净利率更高
VNET
高出102.2%
-112.8%
自由现金流更多
IONS
多$34.1M
$-193.1M
两年增速更快
IONS
近两年复合增速
17.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $203.3M | $362.7M |
| 净利润 | $-229.4M | $-38.7M |
| 毛利率 | 96.1% | 20.9% |
| 营业利润率 | -105.5% | 0.5% |
| 净利率 | -112.8% | -10.7% |
| 营收同比 | -10.3% | — |
| 净利润同比 | -119.8% | — |
| 每股收益（稀释后） | $-1.35 | — |
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IONSVNET
| Q4 25 | $203.3M | — | ||
| Q3 25 | $156.7M | $362.7M | ||
| Q2 25 | $452.0M | — | ||
| Q1 25 | $131.6M | $309.5M | ||
| Q4 24 | $226.6M | — | ||
| Q3 24 | $133.8M | $302.2M | ||
| Q2 24 | $225.3M | $274.4M | ||
| Q1 24 | $119.5M | $262.9M |
净利润IONSVNET
| Q4 25 | $-229.4M | — | ||
| Q3 25 | $-128.6M | $-38.7M | ||
| Q2 25 | $123.6M | — | ||
| Q1 25 | $-146.9M | $-2.4M | ||
| Q4 24 | $-104.3M | — | ||
| Q3 24 | $-140.5M | $-2.1M | ||
| Q2 24 | $-66.3M | $-1.1M | ||
| Q1 24 | $-142.8M | $-22.0M |
毛利率IONSVNET
| Q4 25 | 96.1% | — | ||
| Q3 25 | 98.5% | 20.9% | ||
| Q2 25 | 99.1% | — | ||
| Q1 25 | 98.9% | 25.2% | ||
| Q4 24 | 98.3% | — | ||
| Q3 24 | 99.2% | 23.2% | ||
| Q2 24 | 98.2% | 21.3% | ||
| Q1 24 | 98.2% | 21.6% |
营业利润率IONSVNET
| Q4 25 | -105.5% | — | ||
| Q3 25 | -102.2% | 0.5% | ||
| Q2 25 | 30.9% | — | ||
| Q1 25 | -111.6% | 0.1% | ||
| Q4 24 | -48.9% | — | ||
| Q3 24 | -111.1% | 24.5% | ||
| Q2 24 | -29.3% | 0.2% | ||
| Q1 24 | -125.1% | 0.2% |
净利率IONSVNET
| Q4 25 | -112.8% | — | ||
| Q3 25 | -82.1% | -10.7% | ||
| Q2 25 | 27.3% | — | ||
| Q1 25 | -111.6% | -0.8% | ||
| Q4 24 | -46.1% | — | ||
| Q3 24 | -105.0% | -0.7% | ||
| Q2 24 | -29.4% | -0.4% | ||
| Q1 24 | -119.5% | -8.4% |
每股收益（稀释后）IONSVNET
| Q4 25 | $-1.35 | — | ||
| Q3 25 | $-0.80 | — | ||
| Q2 25 | $0.70 | — | ||
| Q1 25 | $-0.93 | — | ||
| Q4 24 | $-0.66 | — | ||
| Q3 24 | $-0.95 | — | ||
| Q2 24 | $-0.45 | — | ||
| Q1 24 | $-0.98 | — |
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 | $2.7B | $492.1M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $489.1M | $890.8M |
| 总资产 | $3.5B | $6.1B |
| 负债/权益比越低杠杆越低 | 3.71× | — |
8季度趋势，按日历期对齐
现金及短期投资IONSVNET
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.2B | $492.1M | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.1B | $544.3M | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.5B | $219.5M | ||
| Q2 24 | $2.1B | $247.2M | ||
| Q1 24 | $2.2B | $246.9M |
总债务IONSVNET
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IONSVNET
| Q4 25 | $489.1M | — | ||
| Q3 25 | $618.0M | $890.8M | ||
| Q2 25 | $631.7M | — | ||
| Q1 25 | $475.7M | $927.8M | ||
| Q4 24 | $588.4M | — | ||
| Q3 24 | $662.5M | $902.9M | ||
| Q2 24 | $263.7M | $900.6M | ||
| Q1 24 | $296.5M | $895.1M |
总资产IONSVNET
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.0B | $6.1B | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $2.8B | $5.4B | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $3.1B | $4.3B | ||
| Q2 24 | $2.7B | $4.0B | ||
| Q1 24 | $2.8B | $3.9B |
负债/权益比IONSVNET
| Q4 25 | 3.71× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.13× | — | ||
| Q3 24 | — | 1.28× | ||
| 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 | $-137.7M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $-159.0M | $-193.1M |
| 自由现金流率自由现金流/营收 | -78.2% | -53.2% |
| 资本支出强度资本支出/营收 | 10.5% | 84.6% |
| 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 | $-320.0M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流IONSVNET
| Q4 25 | $-137.7M | — | ||
| Q3 25 | $-131.4M | $113.8M | ||
| Q2 25 | $151.3M | — | ||
| Q1 25 | $-150.8M | $27.0M | ||
| Q4 24 | $-116.1M | — | ||
| Q3 24 | $-115.0M | $108.3M | ||
| Q2 24 | $-119.9M | $55.8M | ||
| Q1 24 | $-149.9M | $37.1M |
自由现金流IONSVNET
| Q4 25 | $-159.0M | — | ||
| Q3 25 | $-136.7M | $-193.1M | ||
| Q2 25 | $139.0M | — | ||
| Q1 25 | $-163.4M | $-220.0M | ||
| Q4 24 | $-141.6M | — | ||
| Q3 24 | $-124.0M | $-95.0M | ||
| Q2 24 | $-126.1M | $-81.6M | ||
| Q1 24 | $-154.4M | $-102.2M |
自由现金流率IONSVNET
| Q4 25 | -78.2% | — | ||
| Q3 25 | -87.2% | -53.2% | ||
| Q2 25 | 30.8% | — | ||
| Q1 25 | -124.1% | -71.1% | ||
| Q4 24 | -62.5% | — | ||
| Q3 24 | -92.7% | -31.4% | ||
| Q2 24 | -56.0% | -29.8% | ||
| Q1 24 | -129.2% | -38.9% |
资本支出强度IONSVNET
| Q4 25 | 10.5% | — | ||
| Q3 25 | 3.4% | 84.6% | ||
| Q2 25 | 2.7% | — | ||
| Q1 25 | 9.6% | 79.8% | ||
| Q4 24 | 11.3% | — | ||
| Q3 24 | 6.8% | 67.3% | ||
| Q2 24 | 2.8% | 50.1% | ||
| Q1 24 | 3.8% | 53.0% |
现金转化率IONSVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.22× | — | ||
| Q1 25 | — | — | ||
| 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
IONS
| Products | $58.0M | 29% |
| Spinraza Royalties | $54.0M | 27% |
| Collaborative Agreement Revenue | $52.4M | 26% |
| Wainus Royalties | $16.0M | 8% |
| Wainua Joint Development Revenue | $9.6M | 5% |
| Other Commercial | $7.6M | 4% |
| Other Royalties | $5.7M | 3% |
VNET
暂无分部数据
