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Stride, Inc.（LRN）与Royalty Pharma plc（RPRX）财务数据对比。点击上方公司名可切换其他公司
Stride, Inc.的季度营收约是Royalty Pharma plc的1.0倍（$629.9M vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs 14.1%，领先20.4%），Royalty Pharma plc同比增速更快（4.8% vs 2.7%），过去两年Stride, Inc.的营收复合增速更高（6.9% vs 4.6%）
Stride, Inc.是一家营利性教育机构，主营在线及混合式教育项目。作为教育管理机构，其为K12阶段公立学校学生提供替代传统线下教学的在线教育方案，同时也开设职业学习课程。截至2012年，这家上市企业是全球招生规模最大的教育管理机构。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
LRN vs RPRX — 直观对比
营收规模更大
LRN
是对方的1.0倍
$622.0M
营收增速更快
RPRX
高出2.1%
2.7%
净利率更高
RPRX
高出20.4%
14.1%
两年增速更快
LRN
近两年复合增速
4.6%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $629.9M | $622.0M |
| 净利润 | $88.5M | $214.2M |
| 毛利率 | — | — |
| 营业利润率 | 20.5% | 62.4% |
| 净利率 | 14.1% | 34.4% |
| 营收同比 | 2.7% | 4.8% |
| 净利润同比 | 8.5% | 2.9% |
| 每股收益（稀释后） | $1.93 | $0.49 |
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LRNRPRX
| Q3 26 | $629.9M | — | ||
| Q4 25 | $631.3M | $622.0M | ||
| Q3 25 | $620.9M | $609.3M | ||
| Q2 25 | $653.6M | $578.7M | ||
| Q1 25 | $613.4M | $568.2M | ||
| Q4 24 | $587.2M | $593.6M | ||
| Q3 24 | $551.1M | $564.7M | ||
| Q2 24 | — | $537.3M |
净利润LRNRPRX
| Q3 26 | $88.5M | — | ||
| Q4 25 | $99.5M | $214.2M | ||
| Q3 25 | $68.8M | $288.2M | ||
| Q2 25 | $51.3M | $30.2M | ||
| Q1 25 | $99.3M | $238.3M | ||
| Q4 24 | $96.4M | $208.2M | ||
| Q3 24 | $40.9M | $544.0M | ||
| Q2 24 | — | $102.0M |
毛利率LRNRPRX
| Q3 26 | — | — | ||
| Q4 25 | 41.1% | — | ||
| Q3 25 | 39.0% | — | ||
| Q2 25 | 36.6% | — | ||
| Q1 25 | 40.6% | — | ||
| Q4 24 | 40.8% | — | ||
| Q3 24 | 39.2% | — | ||
| Q2 24 | — | — |
营业利润率LRNRPRX
| Q3 26 | 20.5% | — | ||
| Q4 25 | 23.3% | 62.4% | ||
| Q3 25 | 11.1% | 70.1% | ||
| Q2 25 | 8.7% | 36.3% | ||
| Q1 25 | 21.3% | 94.0% | ||
| Q4 24 | 21.3% | 60.9% | ||
| Q3 24 | 8.6% | — | ||
| Q2 24 | — | 50.2% |
净利率LRNRPRX
| Q3 26 | 14.1% | — | ||
| Q4 25 | 15.8% | 34.4% | ||
| Q3 25 | 11.1% | 47.3% | ||
| Q2 25 | 7.9% | 5.2% | ||
| Q1 25 | 16.2% | 41.9% | ||
| Q4 24 | 16.4% | 35.1% | ||
| Q3 24 | 7.4% | 96.3% | ||
| Q2 24 | — | 19.0% |
每股收益（稀释后）LRNRPRX
| Q3 26 | $1.93 | — | ||
| Q4 25 | $2.12 | $0.49 | ||
| Q3 25 | $1.40 | $0.67 | ||
| Q2 25 | $0.96 | $0.07 | ||
| Q1 25 | $2.02 | $0.55 | ||
| Q4 24 | $2.03 | $0.46 | ||
| Q3 24 | $0.94 | $1.21 | ||
| Q2 24 | — | $0.23 |
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 | $614.0M | $618.7M |
| 总债务越低越好 | $417.6M | $9.0B |
| 股东权益账面价值 | $1.6B | $9.7B |
| 总资产 | $2.4B | $19.6B |
| 负债/权益比越低杠杆越低 | 0.25× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资LRNRPRX
| Q3 26 | $614.0M | — | ||
| Q4 25 | $625.7M | $618.7M | ||
| Q3 25 | $715.1M | $938.9M | ||
| Q2 25 | $985.3M | $631.9M | ||
| Q1 25 | $723.7M | $1.1B | ||
| Q4 24 | $717.5M | $929.0M | ||
| Q3 24 | $522.2M | $950.1M | ||
| Q2 24 | — | $1.8B |
总债务LRNRPRX
| Q3 26 | $417.6M | — | ||
| Q4 25 | $417.2M | $9.0B | ||
| Q3 25 | $416.8M | $8.9B | ||
| Q2 25 | $416.3M | $8.0B | ||
| Q1 25 | $415.9M | $7.6B | ||
| Q4 24 | $415.5M | $7.6B | ||
| Q3 24 | $415.1M | $7.6B | ||
| Q2 24 | — | $7.6B |
股东权益LRNRPRX
| Q3 26 | $1.6B | — | ||
| Q4 25 | $1.5B | $9.7B | ||
| Q3 25 | $1.5B | $9.6B | ||
| Q2 25 | $1.5B | $9.5B | ||
| Q1 25 | $1.4B | $9.8B | ||
| Q4 24 | $1.3B | $10.3B | ||
| Q3 24 | $1.2B | $10.3B | ||
| Q2 24 | — | $9.8B |
总资产LRNRPRX
| Q3 26 | $2.4B | — | ||
| Q4 25 | $2.3B | $19.6B | ||
| Q3 25 | $2.3B | $19.3B | ||
| Q2 25 | $2.3B | $18.3B | ||
| Q1 25 | $2.2B | $17.6B | ||
| Q4 24 | $2.1B | $18.2B | ||
| Q3 24 | $2.0B | $18.0B | ||
| Q2 24 | — | $17.7B |
负债/权益比LRNRPRX
| Q3 26 | 0.25× | — | ||
| Q4 25 | 0.27× | 0.92× | ||
| Q3 25 | 0.27× | 0.93× | ||
| Q2 25 | 0.28× | 0.84× | ||
| Q1 25 | 0.29× | 0.78× | ||
| Q4 24 | 0.32× | 0.74× | ||
| Q3 24 | 0.34× | 0.74× | ||
| Q2 24 | — | 0.78× |
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 | $117.0M | $827.1M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.32× | 3.86× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流LRNRPRX
| Q3 26 | $117.0M | — | ||
| Q4 25 | $91.8M | $827.1M | ||
| Q3 25 | $-195.8M | $702.6M | ||
| Q2 25 | $298.3M | $364.0M | ||
| Q1 25 | $53.1M | $596.1M | ||
| Q4 24 | $223.4M | $742.5M | ||
| Q3 24 | $-142.0M | $703.6M | ||
| Q2 24 | — | $658.2M |
自由现金流LRNRPRX
| Q3 26 | — | — | ||
| Q4 25 | $91.6M | — | ||
| Q3 25 | $-196.1M | — | ||
| Q2 25 | $297.9M | — | ||
| Q1 25 | $52.9M | — | ||
| Q4 24 | $222.9M | — | ||
| Q3 24 | $-142.7M | — | ||
| Q2 24 | — | — |
自由现金流率LRNRPRX
| Q3 26 | — | — | ||
| Q4 25 | 14.5% | — | ||
| Q3 25 | -31.6% | — | ||
| Q2 25 | 45.6% | — | ||
| Q1 25 | 8.6% | — | ||
| Q4 24 | 38.0% | — | ||
| Q3 24 | -25.9% | — | ||
| Q2 24 | — | — |
资本支出强度LRNRPRX
| Q3 26 | — | — | ||
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | — | — |
现金转化率LRNRPRX
| Q3 26 | 1.32× | — | ||
| Q4 25 | 0.92× | 3.86× | ||
| Q3 25 | -2.85× | 2.44× | ||
| Q2 25 | 5.81× | 12.06× | ||
| Q1 25 | 0.53× | 2.50× | ||
| Q4 24 | 2.32× | 3.57× | ||
| Q3 24 | -3.47× | 1.29× | ||
| Q2 24 | — | 6.45× |
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
LRN
| General Education | $357.5M | 57% |
| Middle - High School | $259.5M | 41% |
| Adult | $12.9M | 2% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
