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Karman Holdings Inc.（KRMN）与REPLIGEN CORP（RGEN）财务数据对比。点击上方公司名可切换其他公司
REPLIGEN CORP的季度营收约是Karman Holdings Inc.的1.5倍（$197.9M vs $134.5M），REPLIGEN CORP净利率更高（6.7% vs 5.7%，领先1.0%），Karman Holdings Inc.同比增速更快（47.4% vs 13.6%），REPLIGEN CORP自由现金流更多（$17.6M vs $4.0M），过去两年Karman Holdings Inc.的营收复合增速更高（27.3% vs 14.4%）
Karman Holdings是一家美国航天与防务系统制造商，总部位于加利福尼亚州亨廷顿海滩，当前估值约40亿美元，近期已完成首次公开发行，专注为航天及国防领域提供相关系统产品及配套服务。
Repligen是一家全球生命科学企业，专注于创新生物工艺技术与系统的研发及商业化，助力提升生物药生产效率。公司1981年成立，总部位于美国马萨诸塞州沃尔瑟姆，于纳斯达克挂牌上市，股票代码RGEN，截至2025年全球员工超1900人，主要服务生物制药领域客户。
KRMN vs RGEN — 直观对比
营收规模更大
RGEN
是对方的1.5倍
$134.5M
营收增速更快
KRMN
高出33.8%
13.6%
净利率更高
RGEN
高出1.0%
5.7%
自由现金流更多
RGEN
多$13.5M
$4.0M
两年增速更快
KRMN
近两年复合增速
14.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $134.5M | $197.9M |
| 净利润 | $7.7M | $13.3M |
| 毛利率 | 39.9% | 52.5% |
| 营业利润率 | 15.7% | 9.0% |
| 净利率 | 5.7% | 6.7% |
| 营收同比 | 47.4% | 13.6% |
| 净利润同比 | 358.3% | 143.9% |
| 每股收益（稀释后） | $0.06 | $0.24 |
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KRMNRGEN
| Q4 25 | $134.5M | $197.9M | ||
| Q3 25 | $121.8M | $188.8M | ||
| Q2 25 | $115.1M | $182.4M | ||
| Q1 25 | $100.1M | $169.2M | ||
| Q4 24 | $91.2M | $174.1M | ||
| Q3 24 | $86.0M | $154.9M | ||
| Q2 24 | $85.0M | $154.1M | ||
| Q1 24 | $83.0M | $151.3M |
净利润KRMNRGEN
| Q4 25 | $7.7M | $13.3M | ||
| Q3 25 | $7.6M | $14.9M | ||
| Q2 25 | $6.8M | $14.9M | ||
| Q1 25 | $-4.8M | $5.8M | ||
| Q4 24 | $1.7M | $-30.3M | ||
| Q3 24 | $4.3M | $-654.0K | ||
| Q2 24 | $4.6M | $3.3M | ||
| Q1 24 | $2.1M | $2.1M |
毛利率KRMNRGEN
| Q4 25 | 39.9% | 52.5% | ||
| Q3 25 | 41.0% | 53.2% | ||
| Q2 25 | 40.9% | 50.0% | ||
| Q1 25 | 39.4% | 53.6% | ||
| Q4 24 | 38.1% | 26.1% | ||
| Q3 24 | 39.3% | 50.0% | ||
| Q2 24 | 40.7% | 49.8% | ||
| Q1 24 | 34.9% | 49.5% |
营业利润率KRMNRGEN
| Q4 25 | 15.7% | 9.0% | ||
| Q3 25 | 17.9% | 8.9% | ||
| Q2 25 | 17.5% | 7.6% | ||
| Q1 25 | 10.0% | 3.9% | ||
| Q4 24 | 15.8% | -17.7% | ||
| Q3 24 | 20.2% | -5.1% | ||
| Q2 24 | 21.5% | 1.0% | ||
| Q1 24 | 16.3% | 1.3% |
净利率KRMNRGEN
| Q4 25 | 5.7% | 6.7% | ||
| Q3 25 | 6.3% | 7.9% | ||
| Q2 25 | 5.9% | 8.2% | ||
| Q1 25 | -4.8% | 3.4% | ||
| Q4 24 | 1.8% | -17.4% | ||
| Q3 24 | 5.0% | -0.4% | ||
| Q2 24 | 5.4% | 2.2% | ||
| Q1 24 | 2.6% | 1.4% |
每股收益（稀释后）KRMNRGEN
| Q4 25 | $0.06 | $0.24 | ||
| Q3 25 | $0.06 | $0.26 | ||
| Q2 25 | $0.05 | $0.26 | ||
| Q1 25 | $-0.04 | $0.10 | ||
| Q4 24 | $0.01 | $-0.55 | ||
| Q3 24 | $0.03 | $-0.01 | ||
| Q2 24 | $0.03 | $0.06 | ||
| Q1 24 | $0.01 | $0.04 |
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 | $34.0M | $767.6M |
| 总债务越低越好 | — | $542.2M |
| 股东权益账面价值 | $382.7M | $2.1B |
| 总资产 | $1.1B | $2.9B |
| 负债/权益比越低杠杆越低 | — | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资KRMNRGEN
| Q4 25 | $34.0M | $767.6M | ||
| Q3 25 | $18.7M | $748.7M | ||
| Q2 25 | $27.4M | $708.9M | ||
| Q1 25 | $113.7M | $697.2M | ||
| Q4 24 | $11.5M | $757.4M | ||
| Q3 24 | — | $784.0M | ||
| Q2 24 | — | $809.1M | ||
| Q1 24 | — | $780.6M |
总债务KRMNRGEN
| Q4 25 | — | $542.2M | ||
| Q3 25 | — | $537.9M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $525.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益KRMNRGEN
| Q4 25 | $382.7M | $2.1B | ||
| Q3 25 | $369.1M | $2.1B | ||
| Q2 25 | $361.5M | $2.1B | ||
| Q1 25 | $348.9M | $2.0B | ||
| Q4 24 | $196.0M | $2.0B | ||
| Q3 24 | $194.1M | $2.0B | ||
| Q2 24 | $189.6M | $2.0B | ||
| Q1 24 | $184.8M | $2.0B |
总资产KRMNRGEN
| Q4 25 | $1.1B | $2.9B | ||
| Q3 25 | $968.1M | $2.9B | ||
| Q2 25 | $953.9M | $2.9B | ||
| Q1 25 | $875.4M | $2.9B | ||
| Q4 24 | $774.0M | $2.8B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $2.9B | ||
| Q1 24 | — | $2.8B |
负债/权益比KRMNRGEN
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.27× | ||
| 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 | $8.7M | $25.7M |
| 自由现金流经营现金流 - 资本支出 | $4.0M | $17.6M |
| 自由现金流率自由现金流/营收 | 3.0% | 8.9% |
| 资本支出强度资本支出/营收 | 3.5% | 4.1% |
| 现金转化率经营现金流/净利润 | 1.13× | 1.93× |
| 过去12个月自由现金流最近4个季度 | $-42.5M | $93.9M |
8季度趋势，按日历期对齐
经营现金流KRMNRGEN
| Q4 25 | $8.7M | $25.7M | ||
| Q3 25 | $131.0K | $48.1M | ||
| Q2 25 | $-17.4M | $28.6M | ||
| Q1 25 | $-13.6M | $15.0M | ||
| Q4 24 | — | $39.2M | ||
| Q3 24 | — | $49.3M | ||
| Q2 24 | — | $42.2M | ||
| Q1 24 | $3.1M | $44.7M |
自由现金流KRMNRGEN
| Q4 25 | $4.0M | $17.6M | ||
| Q3 25 | $-6.8M | $43.4M | ||
| Q2 25 | $-21.0M | $21.5M | ||
| Q1 25 | $-18.6M | $11.4M | ||
| Q4 24 | — | $33.6M | ||
| Q3 24 | — | $42.3M | ||
| Q2 24 | — | $37.4M | ||
| Q1 24 | $1.5M | $36.4M |
自由现金流率KRMNRGEN
| Q4 25 | 3.0% | 8.9% | ||
| Q3 25 | -5.6% | 23.0% | ||
| Q2 25 | -18.2% | 11.8% | ||
| Q1 25 | -18.6% | 6.8% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 27.3% | ||
| Q2 24 | — | 24.3% | ||
| Q1 24 | 1.8% | 24.0% |
资本支出强度KRMNRGEN
| Q4 25 | 3.5% | 4.1% | ||
| Q3 25 | 5.7% | 2.5% | ||
| Q2 25 | 3.2% | 3.9% | ||
| Q1 25 | 5.0% | 2.1% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | 1.9% | 5.5% |
现金转化率KRMNRGEN
| Q4 25 | 1.13× | 1.93× | ||
| Q3 25 | 0.02× | 3.23× | ||
| Q2 25 | -2.55× | 1.92× | ||
| Q1 25 | — | 2.57× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 12.70× | ||
| Q1 24 | 1.45× | 21.35× |
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
KRMN
| Tactical Missile And Integrated Defense Systems | $50.5M | 38% |
| Hypersonic And Strategic Missile Defense | $48.4M | 36% |
| Space And Launch | $35.7M | 27% |
RGEN
暂无分部数据
