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MADRIGAL PHARMACEUTICALS, INC.（MDGL）与RAYONIER ADVANCED MATERIALS INC.（RYAM）财务数据对比。点击上方公司名可切换其他公司
RAYONIER ADVANCED MATERIALS INC.的季度营收约是MADRIGAL PHARMACEUTICALS, INC.的1.3倍（$417.5M vs $321.1M），RAYONIER ADVANCED MATERIALS INC.净利率更高（-5.0% vs -18.2%，领先13.2%），MADRIGAL PHARMACEUTICALS, INC.同比增速更快（210.8% vs -1.2%）
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。
RYAM（原雷尼尔先进材料公司）是一家美国全球性纤维素技术企业，主打高纯度特种纤维素产品，所生产的天然聚合物广泛应用于过滤器生产、食品加工、医药制造及各类工业领域，同时也为造纸和包装行业供应相关产品，在纤维素技术领域拥有较高的行业认可度。
MDGL vs RYAM — 直观对比
营收规模更大
RYAM
是对方的1.3倍
$321.1M
营收增速更快
MDGL
高出211.9%
-1.2%
净利率更高
RYAM
高出13.2%
-18.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $321.1M | $417.5M |
| 净利润 | $-58.6M | $-21.1M |
| 毛利率 | — | 8.9% |
| 营业利润率 | -18.6% | 2.6% |
| 净利率 | -18.2% | -5.0% |
| 营收同比 | 210.8% | -1.2% |
| 净利润同比 | 1.4% | -31.9% |
| 每股收益（稀释后） | $-2.55 | $-0.33 |
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MDGLRYAM
| Q4 25 | $321.1M | $417.5M | ||
| Q3 25 | $287.3M | $352.8M | ||
| Q2 25 | $212.8M | $340.0M | ||
| Q1 25 | $137.3M | $356.0M | ||
| Q4 24 | $103.3M | $422.5M | ||
| Q3 24 | $62.2M | $401.1M | ||
| Q2 24 | — | $419.0M | ||
| Q1 24 | $0 | $387.7M |
净利润MDGLRYAM
| Q4 25 | $-58.6M | $-21.1M | ||
| Q3 25 | $-114.2M | $-4.5M | ||
| Q2 25 | $-42.3M | $-363.2M | ||
| Q1 25 | $-73.2M | $-32.0M | ||
| Q4 24 | $-59.4M | $-16.0M | ||
| Q3 24 | $-107.0M | $-32.6M | ||
| Q2 24 | — | $11.4M | ||
| Q1 24 | $-147.5M | $-1.6M |
毛利率MDGLRYAM
| Q4 25 | — | 8.9% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | — | 7.0% | ||
| Q1 25 | 96.7% | 6.8% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | — | 10.9% | ||
| Q2 24 | — | 11.5% | ||
| Q1 24 | — | 9.5% |
营业利润率MDGLRYAM
| Q4 25 | -18.6% | 2.6% | ||
| Q3 25 | -39.7% | 2.8% | ||
| Q2 25 | -22.2% | -0.4% | ||
| Q1 25 | -57.8% | -4.2% | ||
| Q4 24 | -64.8% | 2.6% | ||
| Q3 24 | -187.1% | -4.2% | ||
| Q2 24 | — | 6.7% | ||
| Q1 24 | — | 4.4% |
净利率MDGLRYAM
| Q4 25 | -18.2% | -5.0% | ||
| Q3 25 | -39.8% | -1.3% | ||
| Q2 25 | -19.9% | -106.8% | ||
| Q1 25 | -53.4% | -9.0% | ||
| Q4 24 | -57.5% | -3.8% | ||
| Q3 24 | -172.0% | -8.1% | ||
| Q2 24 | — | 2.7% | ||
| Q1 24 | — | -0.4% |
每股收益（稀释后）MDGLRYAM
| Q4 25 | $-2.55 | $-0.33 | ||
| Q3 25 | $-5.08 | $-0.07 | ||
| Q2 25 | $-1.90 | $-5.44 | ||
| Q1 25 | $-3.32 | $-0.49 | ||
| Q4 24 | $-2.50 | $-0.25 | ||
| Q3 24 | $-4.92 | $-0.49 | ||
| Q2 24 | — | $0.17 | ||
| Q1 24 | $-7.38 | $-0.02 |
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 | $75.4M |
| 总债务越低越好 | $339.9M | $758.1M |
| 股东权益账面价值 | $602.7M | $316.6M |
| 总资产 | $1.3B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.56× | 2.39× |
8季度趋势，按日历期对齐
现金及短期投资MDGLRYAM
| Q4 25 | $198.7M | $75.4M | ||
| Q3 25 | $295.7M | $77.0M | ||
| Q2 25 | $186.2M | $70.7M | ||
| Q1 25 | $183.6M | $129.9M | ||
| Q4 24 | $100.0M | $125.2M | ||
| Q3 24 | $232.7M | $136.1M | ||
| Q2 24 | — | $114.1M | ||
| Q1 24 | $622.5M | $54.6M |
总债务MDGLRYAM
| Q4 25 | $339.9M | $758.1M | ||
| Q3 25 | $339.8M | $763.5M | ||
| Q2 25 | $118.4M | $720.4M | ||
| Q1 25 | $118.0M | $707.0M | ||
| Q4 24 | $117.6M | $706.4M | ||
| Q3 24 | $117.1M | $747.7M | ||
| Q2 24 | — | $752.8M | ||
| Q1 24 | $116.1M | $755.6M |
股东权益MDGLRYAM
| Q4 25 | $602.7M | $316.6M | ||
| Q3 25 | $625.7M | $338.2M | ||
| Q2 25 | $696.0M | $342.3M | ||
| Q1 25 | $710.6M | $688.1M | ||
| Q4 24 | $754.4M | $713.9M | ||
| Q3 24 | $777.2M | $732.7M | ||
| Q2 24 | — | $755.1M | ||
| Q1 24 | $850.8M | $741.8M |
总资产MDGLRYAM
| Q4 25 | $1.3B | $1.8B | ||
| Q3 25 | $1.4B | $1.8B | ||
| Q2 25 | $1.0B | $1.8B | ||
| Q1 25 | $996.6M | $2.1B | ||
| Q4 24 | $1.0B | $2.1B | ||
| Q3 24 | $1.1B | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | $1.1B | $2.1B |
负债/权益比MDGLRYAM
| Q4 25 | 0.56× | 2.39× | ||
| Q3 25 | 0.54× | 2.26× | ||
| Q2 25 | 0.17× | 2.10× | ||
| Q1 25 | 0.17× | 1.03× | ||
| Q4 24 | 0.16× | 0.99× | ||
| Q3 24 | 0.15× | 1.02× | ||
| Q2 24 | — | 1.00× | ||
| Q1 24 | 0.14× | 1.02× |
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 | $32.3M |
| 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 | — | — |
| 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MDGLRYAM
| Q4 25 | $-133.5M | $32.3M | ||
| Q3 25 | $79.8M | $-17.8M | ||
| Q2 25 | $-47.1M | $-30.2M | ||
| Q1 25 | $-88.9M | $39.6M | ||
| Q4 24 | $-104.5M | $54.9M | ||
| Q3 24 | $-67.0M | $49.8M | ||
| Q2 24 | — | $87.6M | ||
| Q1 24 | $-149.2M | $11.3M |
自由现金流MDGLRYAM
| 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MDGLRYAM
| 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MDGLRYAM
| 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MDGLRYAM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 7.69× | ||
| 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% |
RYAM
| Cellulose Specialties | $249.6M | 60% |
| Other | $86.2M | 21% |
| Paperboard | $44.2M | 11% |
| High Yield Pulp | $28.3M | 7% |
| Biomaterials | $9.2M | 2% |
