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Mayville Engineering Company, Inc.（MEC）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
Mayville Engineering Company, Inc.的季度营收约是再鼎医药的1.1倍（$134.3M vs $127.1M），再鼎医药同比增速更快（17.1% vs 10.7%），Mayville Engineering Company, Inc.自由现金流更多（$10.2M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs -8.8%）
Mayville Engineering Company（MEC）是总部位于美国的领先金属零部件、装配组件及定制工程解决方案供应商，主要服务农业、建筑、商用运输、国防、动力运动等领域的原始设备制造商客户，提供从原型开发到大规模量产的全流程服务。
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。
MEC vs ZLAB — 直观对比
营收规模更大
MEC
是对方的1.1倍
$127.1M
营收增速更快
ZLAB
高出6.4%
10.7%
自由现金流更多
MEC
多$36.9M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
-8.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $134.3M | $127.1M |
| 净利润 | $-4.4M | — |
| 毛利率 | 6.8% | 51.0% |
| 营业利润率 | -4.1% | -54.6% |
| 净利率 | -3.2% | — |
| 营收同比 | 10.7% | 17.1% |
| 净利润同比 | -127.3% | — |
| 每股收益（稀释后） | $-0.22 | $-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MECZLAB
| Q4 25 | $134.3M | $127.1M | ||
| Q3 25 | $144.3M | $115.4M | ||
| Q2 25 | $132.3M | $109.1M | ||
| Q1 25 | $135.6M | $105.7M | ||
| Q4 24 | $121.3M | $108.5M | ||
| Q3 24 | $135.4M | $101.8M | ||
| Q2 24 | $163.6M | $100.1M | ||
| Q1 24 | $161.3M | $87.1M |
净利润MECZLAB
| Q4 25 | $-4.4M | — | ||
| Q3 25 | $-2.7M | $-36.0M | ||
| Q2 25 | $-1.1M | $-40.7M | ||
| Q1 25 | $20.0K | $-48.4M | ||
| Q4 24 | $16.0M | — | ||
| Q3 24 | $3.0M | $-41.7M | ||
| Q2 24 | $3.8M | $-80.3M | ||
| Q1 24 | $3.2M | $-53.5M |
毛利率MECZLAB
| Q4 25 | 6.8% | 51.0% | ||
| Q3 25 | 11.0% | 59.5% | ||
| Q2 25 | 10.3% | 60.6% | ||
| Q1 25 | 11.3% | 63.6% | ||
| Q4 24 | 8.9% | 61.5% | ||
| Q3 24 | 12.6% | 64.1% | ||
| Q2 24 | 13.6% | 64.9% | ||
| Q1 24 | 13.0% | 61.4% |
营业利润率MECZLAB
| Q4 25 | -4.1% | -54.6% | ||
| Q3 25 | 0.0% | -42.3% | ||
| Q2 25 | 0.1% | -50.3% | ||
| Q1 25 | 1.2% | -53.3% | ||
| Q4 24 | 19.0% | -62.6% | ||
| Q3 24 | 4.2% | -66.6% | ||
| Q2 24 | 5.0% | -76.0% | ||
| Q1 24 | 4.7% | -80.7% |
净利率MECZLAB
| Q4 25 | -3.2% | — | ||
| Q3 25 | -1.9% | -31.2% | ||
| Q2 25 | -0.8% | -37.3% | ||
| Q1 25 | 0.0% | -45.8% | ||
| Q4 24 | 13.2% | — | ||
| Q3 24 | 2.2% | -40.9% | ||
| Q2 24 | 2.3% | -80.2% | ||
| Q1 24 | 2.0% | -61.4% |
每股收益（稀释后）MECZLAB
| Q4 25 | $-0.22 | $-0.05 | ||
| Q3 25 | $-0.13 | $-0.03 | ||
| Q2 25 | $-0.05 | $-0.04 | ||
| Q1 25 | $0.00 | $-0.04 | ||
| Q4 24 | $0.76 | $-0.09 | ||
| Q3 24 | $0.14 | $-0.04 | ||
| Q2 24 | $0.18 | $-0.08 | ||
| Q1 24 | $0.16 | $-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 | $1.5M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $240.7M | $715.5M |
| 总资产 | $563.6M | $1.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MECZLAB
| Q4 25 | $1.5M | $689.6M | ||
| Q3 25 | $1.2M | $717.2M | ||
| Q2 25 | $206.0K | $732.2M | ||
| Q1 25 | $183.0K | $757.3M | ||
| Q4 24 | $206.0K | $779.7M | ||
| Q3 24 | $178.0K | $616.1M | ||
| Q2 24 | $314.0K | $630.0M | ||
| Q1 24 | $314.0K | $650.8M |
股东权益MECZLAB
| Q4 25 | $240.7M | $715.5M | ||
| Q3 25 | $244.8M | $759.9M | ||
| Q2 25 | $246.8M | $791.7M | ||
| Q1 25 | $250.0M | $810.8M | ||
| Q4 24 | $251.8M | $840.9M | ||
| Q3 24 | $238.4M | $667.7M | ||
| Q2 24 | $238.1M | $704.2M | ||
| Q1 24 | $234.0M | $762.2M |
总资产MECZLAB
| Q4 25 | $563.6M | $1.2B | ||
| Q3 25 | $585.6M | $1.2B | ||
| Q2 25 | $433.7M | $1.2B | ||
| Q1 25 | $447.7M | $1.2B | ||
| Q4 24 | $445.6M | $1.2B | ||
| Q3 24 | $466.0M | $985.3M | ||
| Q2 24 | $488.2M | $987.4M | ||
| Q1 24 | $499.9M | $988.4M |
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 | $13.4M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $10.2M | $-26.7M |
| 自由现金流率自由现金流/营收 | 7.6% | -21.0% |
| 资本支出强度资本支出/营收 | 2.4% | 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 | $26.9M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流MECZLAB
| Q4 25 | $13.4M | $-26.0M | ||
| Q3 25 | $1.9M | $-32.0M | ||
| Q2 25 | $15.0M | $-31.0M | ||
| Q1 25 | $8.3M | $-61.7M | ||
| Q4 24 | $38.0M | $-55.8M | ||
| Q3 24 | $17.9M | $-26.8M | ||
| Q2 24 | $23.3M | $-42.2M | ||
| Q1 24 | $10.6M | $-90.1M |
自由现金流MECZLAB
| Q4 25 | $10.2M | $-26.7M | ||
| Q3 25 | $-1.1M | $-35.0M | ||
| Q2 25 | $12.5M | $-33.9M | ||
| Q1 25 | $5.4M | $-63.2M | ||
| Q4 24 | $35.6M | $-58.4M | ||
| Q3 24 | $15.1M | $-28.2M | ||
| Q2 24 | $19.2M | $-42.9M | ||
| Q1 24 | $7.8M | $-91.1M |
自由现金流率MECZLAB
| Q4 25 | 7.6% | -21.0% | ||
| Q3 25 | -0.8% | -30.4% | ||
| Q2 25 | 9.5% | -31.1% | ||
| Q1 25 | 4.0% | -59.9% | ||
| Q4 24 | 29.4% | -53.8% | ||
| Q3 24 | 11.1% | -27.7% | ||
| Q2 24 | 11.7% | -42.9% | ||
| Q1 24 | 4.9% | -104.5% |
资本支出强度MECZLAB
| Q4 25 | 2.4% | 0.5% | ||
| Q3 25 | 2.1% | 2.6% | ||
| Q2 25 | 1.8% | 2.6% | ||
| Q1 25 | 2.2% | 1.5% | ||
| Q4 24 | 1.9% | 2.4% | ||
| Q3 24 | 2.1% | 1.3% | ||
| Q2 24 | 2.5% | 0.7% | ||
| Q1 24 | 1.7% | 1.1% |
现金转化率MECZLAB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 416.65× | — | ||
| Q4 24 | 2.38× | — | ||
| Q3 24 | 6.03× | — | ||
| Q2 24 | 6.15× | — | ||
| Q1 24 | 3.28× | — |
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
MEC
| Fabrication | $72.2M | 54% |
| Construction And Access | $19.2M | 14% |
| Tubes | $16.2M | 12% |
| Other Market | $11.9M | 9% |
| Agriculture | $7.7M | 6% |
| Military | $6.7M | 5% |
| Outdoor Sports | $1.7M | 1% |
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% |
