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LandBridge Co LLC（LB）与STEM, INC.（STEM）财务数据对比。点击上方公司名可切换其他公司
LandBridge Co LLC的季度营收约是STEM, INC.的1.2倍（$56.8M vs $47.1M），LandBridge Co LLC净利率更高（14.2% vs -33.9%，领先48.1%），LandBridge Co LLC同比增速更快（55.6% vs -15.6%），过去两年LandBridge Co LLC的营收复合增速更高（72.8% vs 36.1%）
该公司是一家公开上市的生物制药企业，总部位于加利福尼亚州纽瓦克，专注研发纯化人类神经干细胞，旨在治疗中枢神经系统疾病与瘫痪，其所研发的神经干细胞可分化为中枢神经系统的神经元、星形胶质细胞与少突胶质细胞这三大主要细胞类型。
LB vs STEM — 直观对比
营收规模更大
LB
是对方的1.2倍
$47.1M
营收增速更快
LB
高出71.1%
-15.6%
净利率更高
LB
高出48.1%
-33.9%
两年增速更快
LB
近两年复合增速
36.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $56.8M | $47.1M |
| 净利润 | $8.1M | $-16.0M |
| 毛利率 | — | 48.9% |
| 营业利润率 | 60.0% | -17.7% |
| 净利率 | 14.2% | -33.9% |
| 营收同比 | 55.6% | -15.6% |
| 净利润同比 | -83.7% | 68.8% |
| 每股收益（稀释后） | $0.24 | $-4.40 |
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LBSTEM
| Q4 25 | $56.8M | $47.1M | ||
| Q3 25 | $50.8M | $38.2M | ||
| Q2 25 | $47.5M | $38.4M | ||
| Q1 25 | $44.0M | $32.5M | ||
| Q4 24 | $36.5M | $55.8M | ||
| Q3 24 | $28.5M | $29.3M | ||
| Q2 24 | $26.0M | $34.0M | ||
| Q1 24 | $19.0M | $25.5M |
净利润LBSTEM
| Q4 25 | $8.1M | $-16.0M | ||
| Q3 25 | $8.1M | $-23.8M | ||
| Q2 25 | $7.5M | $202.5M | ||
| Q1 25 | $6.5M | $-25.0M | ||
| Q4 24 | $49.3M | $-51.1M | ||
| Q3 24 | $2.7M | $-148.3M | ||
| Q2 24 | $-57.7M | $-582.3M | ||
| Q1 24 | $10.8M | $-72.3M |
毛利率LBSTEM
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
营业利润率LBSTEM
| Q4 25 | 60.0% | -17.7% | ||
| Q3 25 | 60.8% | -33.6% | ||
| Q2 25 | 60.0% | -34.8% | ||
| Q1 25 | 57.0% | -65.0% | ||
| Q4 24 | 49.4% | -84.4% | ||
| Q3 24 | 11.2% | -493.2% | ||
| Q2 24 | -197.4% | -1705.5% | ||
| Q1 24 | 71.1% | -267.0% |
净利率LBSTEM
| Q4 25 | 14.2% | -33.9% | ||
| Q3 25 | 15.9% | -62.2% | ||
| Q2 25 | 15.8% | 527.8% | ||
| Q1 25 | 14.7% | -76.9% | ||
| Q4 24 | 135.2% | -91.6% | ||
| Q3 24 | 9.3% | -506.3% | ||
| Q2 24 | -222.1% | -1712.6% | ||
| Q1 24 | 56.7% | -283.9% |
每股收益（稀释后）LBSTEM
| Q4 25 | $0.24 | $-4.40 | ||
| Q3 25 | $0.26 | $-2.84 | ||
| Q2 25 | $0.24 | $-1.79 | ||
| Q1 25 | $0.20 | $-0.15 | ||
| Q4 24 | — | $-15.29 | ||
| Q3 24 | $-0.04 | $-18.24 | ||
| Q2 24 | — | $-71.81 | ||
| Q1 24 | — | $-0.46 |
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 | $30.7M | $48.9M |
| 总债务越低越好 | $570.7M | — |
| 股东权益账面价值 | $340.3M | $-249.4M |
| 总资产 | $1.4B | $308.9M |
| 负债/权益比越低杠杆越低 | 1.68× | — |
8季度趋势，按日历期对齐
现金及短期投资LBSTEM
| Q4 25 | $30.7M | $48.9M | ||
| Q3 25 | $28.3M | $43.1M | ||
| Q2 25 | $20.3M | $40.8M | ||
| Q1 25 | $14.9M | $58.6M | ||
| Q4 24 | $37.0M | $56.3M | ||
| Q3 24 | $14.4M | $75.4M | ||
| Q2 24 | $24.6M | $89.6M | ||
| Q1 24 | — | $112.8M |
总债务LBSTEM
| Q4 25 | $570.7M | — | ||
| Q3 25 | $366.1M | — | ||
| Q2 25 | $370.9M | — | ||
| Q1 25 | $375.5M | — | ||
| Q4 24 | $385.5M | — | ||
| Q3 24 | $242.4M | — | ||
| Q2 24 | $360.8M | — | ||
| Q1 24 | — | — |
股东权益LBSTEM
| Q4 25 | $340.3M | $-249.4M | ||
| Q3 25 | $272.0M | $-235.7M | ||
| Q2 25 | $266.4M | $-214.1M | ||
| Q1 25 | $217.0M | $-417.5M | ||
| Q4 24 | $211.8M | $-398.4M | ||
| Q3 24 | $97.2M | $-344.1M | ||
| Q2 24 | $296.4M | $-203.2M | ||
| Q1 24 | $162.3M | $371.6M |
总资产LBSTEM
| Q4 25 | $1.4B | $308.9M | ||
| Q3 25 | $1.1B | $362.6M | ||
| Q2 25 | $1.1B | $379.2M | ||
| Q1 25 | $1.0B | $405.1M | ||
| Q4 24 | $1.0B | $437.4M | ||
| Q3 24 | $689.9M | $537.8M | ||
| Q2 24 | $710.5M | $691.5M | ||
| Q1 24 | — | $1.3B |
负债/权益比LBSTEM
| Q4 25 | 1.68× | — | ||
| Q3 25 | 1.35× | — | ||
| Q2 25 | 1.39× | — | ||
| Q1 25 | 1.73× | — | ||
| Q4 24 | 1.82× | — | ||
| Q3 24 | 2.49× | — | ||
| Q2 24 | 1.22× | — | ||
| 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 | $126.3M | $8.2M |
| 自由现金流经营现金流 - 资本支出 | $122.0M | — |
| 自由现金流率自由现金流/营收 | 214.9% | — |
| 资本支出强度资本支出/营收 | 7.5% | — |
| 现金转化率经营现金流/净利润 | 15.68× | — |
| 过去12个月自由现金流最近4个季度 | $207.7M | — |
8季度趋势，按日历期对齐
经营现金流LBSTEM
| Q4 25 | $126.3M | $8.2M | ||
| Q3 25 | $34.9M | $11.4M | ||
| Q2 25 | $37.3M | $-21.3M | ||
| Q1 25 | $15.9M | $8.5M | ||
| Q4 24 | $67.6M | $-14.7M | ||
| Q3 24 | $7.5M | $-9.4M | ||
| Q2 24 | $16.0M | $-11.9M | ||
| Q1 24 | $17.2M | $-621.0K |
自由现金流LBSTEM
| Q4 25 | $122.0M | — | ||
| Q3 25 | $33.7M | — | ||
| Q2 25 | $36.1M | — | ||
| Q1 25 | $15.8M | — | ||
| Q4 24 | $66.7M | — | ||
| Q3 24 | $7.1M | — | ||
| Q2 24 | $15.7M | — | ||
| Q1 24 | $17.1M | — |
自由现金流率LBSTEM
| Q4 25 | 214.9% | — | ||
| Q3 25 | 66.3% | — | ||
| Q2 25 | 75.9% | — | ||
| Q1 25 | 36.0% | — | ||
| Q4 24 | 182.6% | — | ||
| Q3 24 | 25.1% | — | ||
| Q2 24 | 60.4% | — | ||
| Q1 24 | 90.1% | — |
资本支出强度LBSTEM
| Q4 25 | 7.5% | — | ||
| Q3 25 | 2.3% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 0.5% | — |
现金转化率LBSTEM
| Q4 25 | 15.68× | — | ||
| Q3 25 | 4.31× | — | ||
| Q2 25 | 4.98× | -0.11× | ||
| Q1 25 | 2.46× | — | ||
| Q4 24 | 1.37× | — | ||
| Q3 24 | 2.80× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.60× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
