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LXP Industrial Trust（LXP）与Vericel Corp（VCEL）财务数据对比。点击上方公司名可切换其他公司
Vericel Corp的季度营收约是LXP Industrial Trust的1.1倍（$92.9M vs $86.7M），LXP Industrial Trust净利率更高（33.2% vs 25.0%，领先8.2%），Vericel Corp同比增速更快（23.3% vs -14.0%），过去两年Vericel Corp的营收复合增速更高（34.6% vs 0.3%）
LXP工业信托是一家公开上市的房地产投资信托，专注于持有、运营和投资美国核心市场的优质工业地产，主要涵盖配送中心、物流设施及轻型工业物业，服务电商、第三方物流、先进制造等领域租户，为投资者创造长期稳定收益。
Vericel Corp是一家美国上市生物制药企业，前身为1989年在密歇根州安娜堡成立的Aastrom Bio，2014年10月正式更为现名，专注于生物制药相关领域的研发与商业化运营。
LXP vs VCEL — 直观对比
营收规模更大
VCEL
是对方的1.1倍
$86.7M
营收增速更快
VCEL
高出37.3%
-14.0%
净利率更高
LXP
高出8.2%
25.0%
两年增速更快
VCEL
近两年复合增速
0.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $86.7M | $92.9M |
| 净利润 | $28.8M | $23.2M |
| 毛利率 | 81.5% | 78.7% |
| 营业利润率 | 34.6% | 24.1% |
| 净利率 | 33.2% | 25.0% |
| 营收同比 | -14.0% | 23.3% |
| 净利润同比 | — | 17.3% |
| 每股收益（稀释后） | — | $0.46 |
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LXPVCEL
| Q4 25 | $86.7M | $92.9M | ||
| Q3 25 | $86.9M | $67.5M | ||
| Q2 25 | $87.7M | $63.2M | ||
| Q1 25 | $88.9M | $52.6M | ||
| Q4 24 | $100.9M | $75.4M | ||
| Q3 24 | $85.6M | $57.9M | ||
| Q2 24 | $85.8M | $52.7M | ||
| Q1 24 | $86.3M | $51.3M |
净利润LXPVCEL
| Q4 25 | $28.8M | $23.2M | ||
| Q3 25 | $36.3M | $5.1M | ||
| Q2 25 | $29.1M | $-553.0K | ||
| Q1 25 | $19.0M | $-11.2M | ||
| Q4 24 | — | $19.8M | ||
| Q3 24 | $6.3M | $-901.0K | ||
| Q2 24 | $5.4M | $-4.7M | ||
| Q1 24 | $-269.0K | $-3.9M |
毛利率LXPVCEL
| Q4 25 | 81.5% | 78.7% | ||
| Q3 25 | 82.3% | 73.5% | ||
| Q2 25 | 81.9% | 73.7% | ||
| Q1 25 | 80.7% | 69.0% | ||
| Q4 24 | 85.3% | 77.6% | ||
| Q3 24 | 82.5% | 71.9% | ||
| Q2 24 | 82.0% | 69.5% | ||
| Q1 24 | 82.4% | 68.9% |
营业利润率LXPVCEL
| Q4 25 | 34.6% | 24.1% | ||
| Q3 25 | 50.4% | 5.1% | ||
| Q2 25 | 33.7% | -3.2% | ||
| Q1 25 | 21.8% | -24.3% | ||
| Q4 24 | — | 24.5% | ||
| Q3 24 | 7.9% | -4.3% | ||
| Q2 24 | 6.9% | -11.5% | ||
| Q1 24 | 1.0% | -10.7% |
净利率LXPVCEL
| Q4 25 | 33.2% | 25.0% | ||
| Q3 25 | 41.7% | 7.5% | ||
| Q2 25 | 33.2% | -0.9% | ||
| Q1 25 | 21.4% | -21.4% | ||
| Q4 24 | — | 26.3% | ||
| Q3 24 | 7.4% | -1.6% | ||
| Q2 24 | 6.3% | -8.9% | ||
| Q1 24 | -0.3% | -7.5% |
每股收益（稀释后）LXPVCEL
| Q4 25 | — | $0.46 | ||
| Q3 25 | $0.12 | $0.10 | ||
| Q2 25 | $0.09 | $-0.01 | ||
| Q1 25 | $0.06 | $-0.23 | ||
| Q4 24 | — | $0.40 | ||
| Q3 24 | $0.02 | $-0.02 | ||
| Q2 24 | $0.01 | $-0.10 | ||
| Q1 24 | $-0.01 | $-0.08 |
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 | $170.4M | $137.5M |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $2.0B | $354.6M |
| 总资产 | $3.5B | $488.0M |
| 负债/权益比越低杠杆越低 | 0.66× | — |
8季度趋势，按日历期对齐
现金及短期投资LXPVCEL
| Q4 25 | $170.4M | $137.5M | ||
| Q3 25 | $229.7M | $135.4M | ||
| Q2 25 | $71.0M | $116.9M | ||
| Q1 25 | $70.9M | $112.9M | ||
| Q4 24 | $101.8M | $116.2M | ||
| Q3 24 | $55.0M | $101.7M | ||
| Q2 24 | $48.7M | $102.5M | ||
| Q1 24 | $293.8M | $110.6M |
总债务LXPVCEL
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益LXPVCEL
| Q4 25 | $2.0B | $354.6M | ||
| Q3 25 | $2.1B | $321.9M | ||
| Q2 25 | $2.1B | $306.8M | ||
| Q1 25 | $2.1B | $295.5M | ||
| Q4 24 | $2.1B | $292.0M | ||
| Q3 24 | $2.1B | $257.5M | ||
| Q2 24 | $2.1B | $243.0M | ||
| Q1 24 | $2.2B | $233.9M |
总资产LXPVCEL
| Q4 25 | $3.5B | $488.0M | ||
| Q3 25 | $3.7B | $453.3M | ||
| Q2 25 | $3.7B | $435.6M | ||
| Q1 25 | $3.8B | $424.6M | ||
| Q4 24 | $3.8B | $432.7M | ||
| Q3 24 | $3.9B | $390.4M | ||
| Q2 24 | $3.9B | $376.8M | ||
| Q1 24 | $4.2B | $356.7M |
负债/权益比LXPVCEL
| Q4 25 | 0.66× | — | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.73× | — | ||
| Q4 24 | 0.75× | — | ||
| 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 | $188.7M | $15.0M |
| 自由现金流经营现金流 - 资本支出 | — | $12.8M |
| 自由现金流率自由现金流/营收 | — | 13.8% |
| 资本支出强度资本支出/营收 | — | 2.4% |
| 现金转化率经营现金流/净利润 | 6.56× | 0.65× |
| 过去12个月自由现金流最近4个季度 | — | $24.7M |
8季度趋势，按日历期对齐
经营现金流LXPVCEL
| Q4 25 | $188.7M | $15.0M | ||
| Q3 25 | $63.5M | $22.1M | ||
| Q2 25 | $44.3M | $8.2M | ||
| Q1 25 | $39.0M | $6.6M | ||
| Q4 24 | $211.2M | $22.2M | ||
| Q3 24 | $64.6M | $10.2M | ||
| Q2 24 | $38.5M | $18.5M | ||
| Q1 24 | $38.9M | $7.2M |
自由现金流LXPVCEL
| Q4 25 | — | $12.8M | ||
| Q3 25 | — | $19.5M | ||
| Q2 25 | — | $81.0K | ||
| Q1 25 | — | $-7.6M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | — | $-9.2M | ||
| Q2 24 | — | $1.8M | ||
| Q1 24 | — | $-6.8M |
自由现金流率LXPVCEL
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | -14.5% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | -15.9% | ||
| Q2 24 | — | 3.4% | ||
| Q1 24 | — | -13.3% |
资本支出强度LXPVCEL
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 27.0% | ||
| Q4 24 | — | 18.3% | ||
| Q3 24 | — | 33.5% | ||
| Q2 24 | — | 31.8% | ||
| Q1 24 | — | 27.3% |
现金转化率LXPVCEL
| Q4 25 | 6.56× | 0.65× | ||
| Q3 25 | 1.75× | 4.35× | ||
| Q2 25 | 1.52× | — | ||
| Q1 25 | 2.05× | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | 10.18× | — | ||
| Q2 24 | 7.09× | — | ||
| 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
LXP
暂无分部数据
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
