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MADRIGAL PHARMACEUTICALS, INC.（MDGL）与EPLUS INC（PLUS）财务数据对比。点击上方公司名可切换其他公司
EPLUS INC的季度营收约是MADRIGAL PHARMACEUTICALS, INC.的1.9倍（$614.8M vs $321.1M），EPLUS INC净利率更高（5.7% vs -18.2%，领先23.9%），MADRIGAL PHARMACEUTICALS, INC.同比增速更快（210.8% vs 20.3%）
本公司是一家美国生物制药企业，成立于2002年，专注于研发新型合成胆汁酸类似物，可用于治疗原发性胆汁性胆管炎、非酒精性脂肪肝、肝硬化等慢性肝病，以及胆汁酸性腹泻等肠道疾病。
ePlus Inc.是美国的科技咨询解决方案提供商，业务覆盖网络安全、云计算、网络架构、协作办公、人工智能及前沿技术领域，为超5000家客户提供定制化解决方案、专业咨询与托管服务，助力企业实现数字化转型与技术升级。
MDGL vs PLUS — 直观对比
营收规模更大
PLUS
是对方的1.9倍
$321.1M
营收增速更快
MDGL
高出190.4%
20.3%
净利率更高
PLUS
高出23.9%
-18.2%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $321.1M | $614.8M |
| 净利润 | $-58.6M | $35.1M |
| 毛利率 | — | 25.8% |
| 营业利润率 | -18.6% | 7.1% |
| 净利率 | -18.2% | 5.7% |
| 营收同比 | 210.8% | 20.3% |
| 净利润同比 | 1.4% | 45.2% |
| 每股收益（稀释后） | $-2.55 | $1.33 |
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MDGLPLUS
| Q4 25 | $321.1M | $614.8M | ||
| Q3 25 | $287.3M | $608.8M | ||
| Q2 25 | $212.8M | $637.3M | ||
| Q1 25 | $137.3M | — | ||
| Q4 24 | $103.3M | $493.2M | ||
| Q3 24 | $62.2M | $493.4M | ||
| Q2 24 | — | $535.7M | ||
| Q1 24 | $0 | — |
净利润MDGLPLUS
| Q4 25 | $-58.6M | $35.1M | ||
| Q3 25 | $-114.2M | $34.9M | ||
| Q2 25 | $-42.3M | $37.7M | ||
| Q1 25 | $-73.2M | — | ||
| Q4 24 | $-59.4M | $24.1M | ||
| Q3 24 | $-107.0M | $31.3M | ||
| Q2 24 | — | $27.3M | ||
| Q1 24 | $-147.5M | — |
毛利率MDGLPLUS
| Q4 25 | — | 25.8% | ||
| Q3 25 | — | 26.6% | ||
| Q2 25 | — | 23.3% | ||
| Q1 25 | 96.7% | — | ||
| Q4 24 | — | 25.4% | ||
| Q3 24 | — | 25.8% | ||
| Q2 24 | — | 23.7% | ||
| Q1 24 | — | — |
营业利润率MDGLPLUS
| Q4 25 | -18.6% | 7.1% | ||
| Q3 25 | -39.7% | 8.0% | ||
| Q2 25 | -22.2% | 5.7% | ||
| Q1 25 | -57.8% | — | ||
| Q4 24 | -64.8% | 3.3% | ||
| Q3 24 | -187.1% | 5.5% | ||
| Q2 24 | — | 5.9% | ||
| Q1 24 | — | — |
净利率MDGLPLUS
| Q4 25 | -18.2% | 5.7% | ||
| Q3 25 | -39.8% | 5.7% | ||
| Q2 25 | -19.9% | 5.9% | ||
| Q1 25 | -53.4% | — | ||
| Q4 24 | -57.5% | 4.9% | ||
| Q3 24 | -172.0% | 6.3% | ||
| Q2 24 | — | 5.1% | ||
| Q1 24 | — | — |
每股收益（稀释后）MDGLPLUS
| Q4 25 | $-2.55 | $1.33 | ||
| Q3 25 | $-5.08 | $1.32 | ||
| Q2 25 | $-1.90 | $1.43 | ||
| Q1 25 | $-3.32 | — | ||
| Q4 24 | $-2.50 | $0.91 | ||
| Q3 24 | $-4.92 | $1.17 | ||
| Q2 24 | — | $1.02 | ||
| Q1 24 | $-7.38 | — |
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 | $198.7M | $326.3M |
| 总债务越低越好 | $339.9M | — |
| 股东权益账面价值 | $602.7M | $1.1B |
| 总资产 | $1.3B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.56× | — |
8季度趋势，按日历期对齐
现金及短期投资MDGLPLUS
| Q4 25 | $198.7M | $326.3M | ||
| Q3 25 | $295.7M | $402.2M | ||
| Q2 25 | $186.2M | $480.2M | ||
| Q1 25 | $183.6M | — | ||
| Q4 24 | $100.0M | $253.1M | ||
| Q3 24 | $232.7M | $187.5M | ||
| Q2 24 | — | $349.9M | ||
| Q1 24 | $622.5M | — |
总债务MDGLPLUS
| Q4 25 | $339.9M | — | ||
| Q3 25 | $339.8M | — | ||
| Q2 25 | $118.4M | — | ||
| Q1 25 | $118.0M | — | ||
| Q4 24 | $117.6M | — | ||
| Q3 24 | $117.1M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $116.1M | — |
股东权益MDGLPLUS
| Q4 25 | $602.7M | $1.1B | ||
| Q3 25 | $625.7M | $1.0B | ||
| Q2 25 | $696.0M | $1.0B | ||
| Q1 25 | $710.6M | — | ||
| Q4 24 | $754.4M | $962.3M | ||
| Q3 24 | $777.2M | $947.0M | ||
| Q2 24 | — | $921.9M | ||
| Q1 24 | $850.8M | — |
总资产MDGLPLUS
| Q4 25 | $1.3B | $1.8B | ||
| Q3 25 | $1.4B | $1.8B | ||
| Q2 25 | $1.0B | $1.8B | ||
| Q1 25 | $996.6M | — | ||
| Q4 24 | $1.0B | $1.8B | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | $1.1B | — |
负债/权益比MDGLPLUS
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.54× | — | ||
| Q2 25 | 0.17× | — | ||
| Q1 25 | 0.17× | — | ||
| Q4 24 | 0.16× | — | ||
| Q3 24 | 0.15× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.14× | — |
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 | $-133.5M | $-87.4M |
| 自由现金流经营现金流 - 资本支出 | $-133.8M | — |
| 自由现金流率自由现金流/营收 | -41.7% | — |
| 资本支出强度资本支出/营收 | 0.1% | — |
| 现金转化率经营现金流/净利润 | — | -2.49× |
| 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MDGLPLUS
| Q4 25 | $-133.5M | $-87.4M | ||
| Q3 25 | $79.8M | $-34.8M | ||
| Q2 25 | $-47.1M | $-99.0M | ||
| Q1 25 | $-88.9M | — | ||
| Q4 24 | $-104.5M | $65.7M | ||
| Q3 24 | $-67.0M | $-21.6M | ||
| Q2 24 | — | $97.1M | ||
| Q1 24 | $-149.2M | — |
自由现金流MDGLPLUS
| Q4 25 | $-133.8M | — | ||
| Q3 25 | $79.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-104.7M | — | ||
| Q3 24 | $-67.8M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $-149.5M | — |
自由现金流率MDGLPLUS
| Q4 25 | -41.7% | — | ||
| Q3 25 | 27.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -101.3% | — | ||
| Q3 24 | -109.0% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度MDGLPLUS
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 1.3% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率MDGLPLUS
| Q4 25 | — | -2.49× | ||
| Q3 25 | — | -1.00× | ||
| Q2 25 | — | -2.63× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.72× | ||
| Q3 24 | — | -0.69× | ||
| Q2 24 | — | 3.55× | ||
| 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
MDGL
| Rebates Customer Fees Credits Co Pay Assistance And Other | $208.5M | 65% |
| Other | $76.0M | 24% |
| Chargebacks Discounts For Prompt Pay And Other Allowances | $36.6M | 11% |
PLUS
| All Others Customer End Market | $107.0M | 17% |
| Technology Customer End Market | $89.4M | 15% |
| Health Care Customer End Market | $81.5M | 13% |
| Financial Services Customer End Market | $66.1M | 11% |
| Professional Services Reporting Unit | $64.1M | 10% |
| Security | $61.1M | 10% |
| State And Local Government And Educational Institutions | $59.9M | 10% |
| Managed Services Reporting Unit | $48.8M | 8% |
| Other Product | $21.1M | 3% |
| Collaboration | $13.4M | 2% |
