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Kennedy-Wilson Holdings, Inc.（KW）与再鼎医药（ZLAB）财务数据对比。点击上方公司名可切换其他公司
再鼎医药的季度营收约是Kennedy-Wilson Holdings, Inc.的1.1倍（$127.1M vs $120.6M），再鼎医药同比增速更快（17.1% vs -11.0%），再鼎医药自由现金流更多（$-26.7M vs $-55.2M），过去两年再鼎医药的营收复合增速更高（20.8% vs -6.0%）
肯尼迪-威尔逊控股是一家房地产投资企业，公司总部位于美国加利福尼亚州比弗利山庄，业务覆盖全球多地房地产领域的投资与运营相关业务。
再鼎医药是一家创新生物制药企业，专注于肿瘤、自身免疫性疾病、感染性疾病等领域创新疗法的研发、生产与商业化，核心市场覆盖大中华区，与全球多家头部生物科技企业合作，为存在未被满足医疗需求的患者提供治疗方案。
KW vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.1倍
$120.6M
营收增速更快
ZLAB
高出28.1%
-11.0%
自由现金流更多
ZLAB
多$28.5M
$-55.2M
两年增速更快
ZLAB
近两年复合增速
-6.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $120.6M | $127.1M |
| 净利润 | $58.0M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | 57.3% | -54.6% |
| 净利率 | 48.1% | — |
| 营收同比 | -11.0% | 17.1% |
| 净利润同比 | 32.7% | — |
| 每股收益（稀释后） | $0.22 | $-0.05 |
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KWZLAB
| Q4 25 | $120.6M | $127.1M | ||
| Q3 25 | $116.4M | $115.4M | ||
| Q2 25 | $135.7M | $109.1M | ||
| Q1 25 | $128.3M | $105.7M | ||
| Q4 24 | $135.5M | $108.5M | ||
| Q3 24 | $127.5M | $101.8M | ||
| Q2 24 | $132.0M | $100.1M | ||
| Q1 24 | $136.4M | $87.1M |
净利润KWZLAB
| Q4 25 | $58.0M | — | ||
| Q3 25 | $-10.2M | $-36.0M | ||
| Q2 25 | $5.6M | $-40.7M | ||
| Q1 25 | $-29.6M | $-48.4M | ||
| Q4 24 | $43.7M | — | ||
| Q3 24 | $-66.8M | $-41.7M | ||
| Q2 24 | $-48.3M | $-80.3M | ||
| Q1 24 | $37.7M | $-53.5M |
毛利率KWZLAB
| Q4 25 | — | 51.0% | ||
| Q3 25 | — | 59.5% | ||
| Q2 25 | — | 60.6% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 64.1% | ||
| Q2 24 | — | 64.9% | ||
| Q1 24 | — | 61.4% |
营业利润率KWZLAB
| Q4 25 | 57.3% | -54.6% | ||
| Q3 25 | -6.2% | -42.3% | ||
| Q2 25 | 7.4% | -50.3% | ||
| Q1 25 | -26.9% | -53.3% | ||
| Q4 24 | 36.7% | -62.6% | ||
| Q3 24 | -60.8% | -66.6% | ||
| Q2 24 | -45.5% | -76.0% | ||
| Q1 24 | 47.2% | -80.7% |
净利率KWZLAB
| Q4 25 | 48.1% | — | ||
| Q3 25 | -8.8% | -31.2% | ||
| Q2 25 | 4.1% | -37.3% | ||
| Q1 25 | -23.1% | -45.8% | ||
| Q4 24 | 32.3% | — | ||
| Q3 24 | -52.4% | -40.9% | ||
| Q2 24 | -36.6% | -80.2% | ||
| Q1 24 | 27.6% | -61.4% |
每股收益（稀释后）KWZLAB
| Q4 25 | $0.22 | $-0.05 | ||
| Q3 25 | $-0.15 | $-0.03 | ||
| Q2 25 | $-0.05 | $-0.04 | ||
| Q1 25 | $-0.30 | $-0.04 | ||
| Q4 24 | $0.24 | $-0.09 | ||
| Q3 24 | $-0.56 | $-0.04 | ||
| Q2 24 | $-0.43 | $-0.08 | ||
| Q1 24 | $0.19 | $-0.05 |
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 | $184.5M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $715.5M |
| 总资产 | $6.6B | $1.2B |
| 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KWZLAB
| Q4 25 | $184.5M | $689.6M | ||
| Q3 25 | $382.6M | $717.2M | ||
| Q2 25 | $309.1M | $732.2M | ||
| Q1 25 | $356.6M | $757.3M | ||
| Q4 24 | $217.5M | $779.7M | ||
| Q3 24 | $367.1M | $616.1M | ||
| Q2 24 | $366.5M | $630.0M | ||
| Q1 24 | $541.9M | $650.8M |
股东权益KWZLAB
| Q4 25 | $1.5B | $715.5M | ||
| Q3 25 | $1.5B | $759.9M | ||
| Q2 25 | $1.6B | $791.7M | ||
| Q1 25 | $1.6B | $810.8M | ||
| Q4 24 | $1.6B | $840.9M | ||
| Q3 24 | $1.6B | $667.7M | ||
| Q2 24 | $1.7B | $704.2M | ||
| Q1 24 | $1.7B | $762.2M |
总资产KWZLAB
| Q4 25 | $6.6B | $1.2B | ||
| Q3 25 | $6.7B | $1.2B | ||
| Q2 25 | $6.8B | $1.2B | ||
| Q1 25 | $7.2B | $1.2B | ||
| Q4 24 | $7.0B | $1.2B | ||
| Q3 24 | $7.4B | $985.3M | ||
| Q2 24 | $7.5B | $987.4M | ||
| Q1 24 | $7.7B | $988.4M |
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 | $11.4M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-55.2M | $-26.7M |
| 自由现金流率自由现金流/营收 | -45.8% | -21.0% |
| 资本支出强度资本支出/营收 | 55.2% | 0.5% |
| 现金转化率经营现金流/净利润 | 0.20× | — |
| 过去12个月自由现金流最近4个季度 | $-103.5M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流KWZLAB
| Q4 25 | $11.4M | $-26.0M | ||
| Q3 25 | $-7.6M | $-32.0M | ||
| Q2 25 | $42.0M | $-31.0M | ||
| Q1 25 | $-51.9M | $-61.7M | ||
| Q4 24 | $55.1M | $-55.8M | ||
| Q3 24 | $-5.6M | $-26.8M | ||
| Q2 24 | $36.7M | $-42.2M | ||
| Q1 24 | $-5.6M | $-90.1M |
自由现金流KWZLAB
| Q4 25 | $-55.2M | $-26.7M | ||
| Q3 25 | $-18.0M | $-35.0M | ||
| Q2 25 | $29.4M | $-33.9M | ||
| Q1 25 | $-59.7M | $-63.2M | ||
| Q4 24 | $-76.5M | $-58.4M | ||
| Q3 24 | $-27.7M | $-28.2M | ||
| Q2 24 | $-500.0K | $-42.9M | ||
| Q1 24 | $-57.1M | $-91.1M |
自由现金流率KWZLAB
| Q4 25 | -45.8% | -21.0% | ||
| Q3 25 | -15.5% | -30.4% | ||
| Q2 25 | 21.7% | -31.1% | ||
| Q1 25 | -46.5% | -59.9% | ||
| Q4 24 | -56.5% | -53.8% | ||
| Q3 24 | -21.7% | -27.7% | ||
| Q2 24 | -0.4% | -42.9% | ||
| Q1 24 | -41.9% | -104.5% |
资本支出强度KWZLAB
| Q4 25 | 55.2% | 0.5% | ||
| Q3 25 | 8.9% | 2.6% | ||
| Q2 25 | 9.3% | 2.6% | ||
| Q1 25 | 6.1% | 1.5% | ||
| Q4 24 | 97.1% | 2.4% | ||
| Q3 24 | 17.3% | 1.3% | ||
| Q2 24 | 28.2% | 0.7% | ||
| Q1 24 | 37.8% | 1.1% |
现金转化率KWZLAB
| Q4 25 | 0.20× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 7.50× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.15× | — |
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
KW
| Consolidated Portfolio Segment | $84.9M | 70% |
| Investment Management Fees | $30.4M | 25% |
| Real Estate | $5.1M | 4% |
ZLAB
| Zejula | $56.0M | 44% |
| Other | $21.9M | 17% |
| Nuzyra | $16.0M | 13% |
| Optune | $11.9M | 9% |
| XACDURO | $10.7M | 8% |
| Qinlock | $9.7M | 8% |
| AUGTYRO | $836.0K | 1% |
