vs
MARCUS CORP（MCS）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
MARCUS CORP的季度营收约是再鼎医药的1.5倍（$193.5M vs $127.1M），再鼎医药同比增速更快（17.1% vs 2.8%），MARCUS CORP自由现金流更多（$26.4M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 18.2%）
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
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。
MCS vs ZLAB — 直观对比
营收规模更大
MCS
是对方的1.5倍
$127.1M
营收增速更快
ZLAB
高出14.4%
2.8%
自由现金流更多
MCS
多$53.1M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
18.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $193.5M | $127.1M |
| 净利润 | — | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | 0.9% | -54.6% |
| 净利率 | — | — |
| 营收同比 | 2.8% | 17.1% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | — | $-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MCSZLAB
| Q4 25 | $193.5M | $127.1M | ||
| Q3 25 | $210.2M | $115.4M | ||
| Q2 25 | $206.0M | $109.1M | ||
| Q1 25 | $148.8M | $105.7M | ||
| Q4 24 | $188.3M | $108.5M | ||
| Q3 24 | $232.7M | $101.8M | ||
| Q2 24 | $176.0M | $100.1M | ||
| Q1 24 | $138.5M | $87.1M |
净利润MCSZLAB
| Q4 25 | — | — | ||
| Q3 25 | $16.2M | $-36.0M | ||
| Q2 25 | $7.3M | $-40.7M | ||
| Q1 25 | $-16.8M | $-48.4M | ||
| Q4 24 | $986.0K | — | ||
| Q3 24 | $23.3M | $-41.7M | ||
| Q2 24 | $-20.2M | $-80.3M | ||
| Q1 24 | $-11.9M | $-53.5M |
毛利率MCSZLAB
| 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MCSZLAB
| Q4 25 | 0.9% | -54.6% | ||
| Q3 25 | 10.8% | -42.3% | ||
| Q2 25 | 6.3% | -50.3% | ||
| Q1 25 | -13.7% | -53.3% | ||
| Q4 24 | -1.2% | -62.6% | ||
| Q3 24 | 14.1% | -66.6% | ||
| Q2 24 | 1.3% | -76.0% | ||
| Q1 24 | -12.0% | -80.7% |
净利率MCSZLAB
| Q4 25 | — | — | ||
| Q3 25 | 7.7% | -31.2% | ||
| Q2 25 | 3.6% | -37.3% | ||
| Q1 25 | -11.3% | -45.8% | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 10.0% | -40.9% | ||
| Q2 24 | -11.5% | -80.2% | ||
| Q1 24 | -8.6% | -61.4% |
每股收益（稀释后）MCSZLAB
| Q4 25 | — | $-0.05 | ||
| Q3 25 | — | $-0.03 | ||
| Q2 25 | — | $-0.04 | ||
| Q1 25 | — | $-0.04 | ||
| Q4 24 | — | $-0.09 | ||
| Q3 24 | — | $-0.04 | ||
| Q2 24 | — | $-0.08 | ||
| Q1 24 | — | $-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 | $23.4M | $689.6M |
| 总债务越低越好 | $159.0M | — |
| 股东权益账面价值 | $457.4M | $715.5M |
| 总资产 | $1.0B | $1.2B |
| 负债/权益比越低杠杆越低 | 0.35× | — |
8季度趋势，按日历期对齐
现金及短期投资MCSZLAB
| Q4 25 | $23.4M | $689.6M | ||
| Q3 25 | $7.4M | $717.2M | ||
| Q2 25 | $14.9M | $732.2M | ||
| Q1 25 | $11.9M | $757.3M | ||
| Q4 24 | $40.8M | $779.7M | ||
| Q3 24 | $28.4M | $616.1M | ||
| Q2 24 | $32.8M | $630.0M | ||
| Q1 24 | $17.3M | $650.8M |
总债务MCSZLAB
| Q4 25 | $159.0M | — | ||
| Q3 25 | $162.0M | — | ||
| Q2 25 | $179.9M | — | ||
| Q1 25 | $198.9M | — | ||
| Q4 24 | $159.1M | — | ||
| Q3 24 | $173.1M | — | ||
| Q2 24 | $175.7M | — | ||
| Q1 24 | $169.8M | — |
股东权益MCSZLAB
| Q4 25 | $457.4M | $715.5M | ||
| Q3 25 | $454.3M | $759.9M | ||
| Q2 25 | $448.4M | $791.7M | ||
| Q1 25 | $441.8M | $810.8M | ||
| Q4 24 | $464.9M | $840.9M | ||
| Q3 24 | $462.3M | $667.7M | ||
| Q2 24 | $449.4M | $704.2M | ||
| Q1 24 | $459.3M | $762.2M |
总资产MCSZLAB
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $1.0B | $1.2B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $1.0B | $1.2B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $1.0B | $985.3M | ||
| Q2 24 | $1.1B | $987.4M | ||
| Q1 24 | $1.0B | $988.4M |
负债/权益比MCSZLAB
| Q4 25 | 0.35× | — | ||
| Q3 25 | 0.36× | — | ||
| Q2 25 | 0.40× | — | ||
| Q1 25 | 0.45× | — | ||
| Q4 24 | 0.34× | — | ||
| Q3 24 | 0.37× | — | ||
| Q2 24 | 0.39× | — | ||
| Q1 24 | 0.37× | — |
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 | $48.8M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $26.4M | $-26.7M |
| 自由现金流率自由现金流/营收 | 13.6% | -21.0% |
| 资本支出强度资本支出/营收 | 11.6% | 0.5% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $989.0K | $-158.9M |
8季度趋势，按日历期对齐
经营现金流MCSZLAB
| Q4 25 | $48.8M | $-26.0M | ||
| Q3 25 | $39.1M | $-32.0M | ||
| Q2 25 | $31.6M | $-31.0M | ||
| Q1 25 | $-35.3M | $-61.7M | ||
| Q4 24 | $52.6M | $-55.8M | ||
| Q3 24 | $30.5M | $-26.8M | ||
| Q2 24 | $36.0M | $-42.2M | ||
| Q1 24 | $-15.1M | $-90.1M |
自由现金流MCSZLAB
| Q4 25 | $26.4M | $-26.7M | ||
| Q3 25 | $18.2M | $-35.0M | ||
| Q2 25 | $14.7M | $-33.9M | ||
| Q1 25 | $-58.3M | $-63.2M | ||
| Q4 24 | $27.1M | $-58.4M | ||
| Q3 24 | $12.0M | $-28.2M | ||
| Q2 24 | $16.1M | $-42.9M | ||
| Q1 24 | $-30.5M | $-91.1M |
自由现金流率MCSZLAB
| Q4 25 | 13.6% | -21.0% | ||
| Q3 25 | 8.7% | -30.4% | ||
| Q2 25 | 7.1% | -31.1% | ||
| Q1 25 | -39.2% | -59.9% | ||
| Q4 24 | 14.4% | -53.8% | ||
| Q3 24 | 5.2% | -27.7% | ||
| Q2 24 | 9.2% | -42.9% | ||
| Q1 24 | -22.0% | -104.5% |
资本支出强度MCSZLAB
| Q4 25 | 11.6% | 0.5% | ||
| Q3 25 | 9.9% | 2.6% | ||
| Q2 25 | 8.2% | 2.6% | ||
| Q1 25 | 15.5% | 1.5% | ||
| Q4 24 | 13.5% | 2.4% | ||
| Q3 24 | 7.9% | 1.3% | ||
| Q2 24 | 11.3% | 0.7% | ||
| Q1 24 | 11.1% | 1.1% |
现金转化率MCSZLAB
| Q4 25 | — | — | ||
| Q3 25 | 2.41× | — | ||
| Q2 25 | 4.32× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 53.31× | — | ||
| Q3 24 | 1.31× | — | ||
| Q2 24 | — | — | ||
| 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
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
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% |
