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Mirum Pharmaceuticals, Inc.（MIRM）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
Mirum Pharmaceuticals, Inc.的季度营收约是再鼎医药的1.2倍（$148.9M vs $127.1M），Mirum Pharmaceuticals, Inc.同比增速更快（49.8% vs 17.1%），Mirum Pharmaceuticals, Inc.自由现金流更多（$5.5M vs $-26.7M），过去两年Mirum Pharmaceuticals, Inc.的营收复合增速更高（46.7% vs 20.8%）
Mirum Pharmaceuticals是一家处于后期阶段的生物制药企业，专注于为存在高度未满足医疗需求的罕见重症肝病患者开发及商业化创新治疗方案，服务覆盖北美、欧洲等全球多个地区的成人与儿童患者群体。
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。
MIRM vs ZLAB — 直观对比
营收规模更大
MIRM
是对方的1.2倍
$127.1M
营收增速更快
MIRM
高出32.7%
17.1%
自由现金流更多
MIRM
多$32.2M
$-26.7M
两年增速更快
MIRM
近两年复合增速
20.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $148.9M | $127.1M |
| 净利润 | $-5.7M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | -3.1% | -54.6% |
| 净利率 | -3.8% | — |
| 营收同比 | 49.8% | 17.1% |
| 净利润同比 | 75.9% | — |
| 每股收益（稀释后） | $-0.10 | $-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MIRMZLAB
| Q4 25 | $148.9M | $127.1M | ||
| Q3 25 | $133.0M | $115.4M | ||
| Q2 25 | $127.8M | $109.1M | ||
| Q1 25 | $111.6M | $105.7M | ||
| Q4 24 | $99.4M | $108.5M | ||
| Q3 24 | $90.4M | $101.8M | ||
| Q2 24 | $77.9M | $100.1M | ||
| Q1 24 | $69.2M | $87.1M |
净利润MIRMZLAB
| Q4 25 | $-5.7M | — | ||
| Q3 25 | $2.9M | $-36.0M | ||
| Q2 25 | $-5.9M | $-40.7M | ||
| Q1 25 | $-14.7M | $-48.4M | ||
| Q4 24 | $-23.8M | — | ||
| Q3 24 | $-14.2M | $-41.7M | ||
| Q2 24 | $-24.6M | $-80.3M | ||
| Q1 24 | $-25.3M | $-53.5M |
毛利率MIRMZLAB
| 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MIRMZLAB
| Q4 25 | -3.1% | -54.6% | ||
| Q3 25 | 2.0% | -42.3% | ||
| Q2 25 | -3.9% | -50.3% | ||
| Q1 25 | -13.6% | -53.3% | ||
| Q4 24 | -24.4% | -62.6% | ||
| Q3 24 | -14.0% | -66.6% | ||
| Q2 24 | -31.1% | -76.0% | ||
| Q1 24 | -38.2% | -80.7% |
净利率MIRMZLAB
| Q4 25 | -3.8% | — | ||
| Q3 25 | 2.2% | -31.2% | ||
| Q2 25 | -4.6% | -37.3% | ||
| Q1 25 | -13.2% | -45.8% | ||
| Q4 24 | -23.9% | — | ||
| Q3 24 | -15.8% | -40.9% | ||
| Q2 24 | -31.6% | -80.2% | ||
| Q1 24 | -36.5% | -61.4% |
每股收益（稀释后）MIRMZLAB
| Q4 25 | $-0.10 | $-0.05 | ||
| Q3 25 | $0.05 | $-0.03 | ||
| Q2 25 | $-0.12 | $-0.04 | ||
| Q1 25 | $-0.30 | $-0.04 | ||
| Q4 24 | $-0.49 | $-0.09 | ||
| Q3 24 | $-0.30 | $-0.04 | ||
| Q2 24 | $-0.52 | $-0.08 | ||
| Q1 24 | $-0.54 | $-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 | $383.3M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $314.7M | $715.5M |
| 总资产 | $842.8M | $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MIRMZLAB
| Q4 25 | $383.3M | $689.6M | ||
| Q3 25 | $375.5M | $717.2M | ||
| Q2 25 | $304.6M | $732.2M | ||
| Q1 25 | $277.7M | $757.3M | ||
| Q4 24 | $280.3M | $779.7M | ||
| Q3 24 | $284.4M | $616.1M | ||
| Q2 24 | $278.4M | $630.0M | ||
| Q1 24 | $302.8M | $650.8M |
股东权益MIRMZLAB
| Q4 25 | $314.7M | $715.5M | ||
| Q3 25 | $292.0M | $759.9M | ||
| Q2 25 | $255.2M | $791.7M | ||
| Q1 25 | $233.3M | $810.8M | ||
| Q4 24 | $225.6M | $840.9M | ||
| Q3 24 | $232.0M | $667.7M | ||
| Q2 24 | $229.0M | $704.2M | ||
| Q1 24 | $234.6M | $762.2M |
总资产MIRMZLAB
| Q4 25 | $842.8M | $1.2B | ||
| Q3 25 | $785.1M | $1.2B | ||
| Q2 25 | $725.8M | $1.2B | ||
| Q1 25 | $690.2M | $1.2B | ||
| Q4 24 | $670.8M | $1.2B | ||
| Q3 24 | $667.9M | $985.3M | ||
| Q2 24 | $660.8M | $987.4M | ||
| Q1 24 | $652.0M | $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 | $6.1M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $5.5M | $-26.7M |
| 自由现金流率自由现金流/营收 | 3.7% | -21.0% |
| 资本支出强度资本支出/营收 | 0.4% | 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 | $54.9M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流MIRMZLAB
| Q4 25 | $6.1M | $-26.0M | ||
| Q3 25 | $39.7M | $-32.0M | ||
| Q2 25 | $12.0M | $-31.0M | ||
| Q1 25 | $-2.0M | $-61.7M | ||
| Q4 24 | $-5.1M | $-55.8M | ||
| Q3 24 | $4.0M | $-26.8M | ||
| Q2 24 | $-3.8M | $-42.2M | ||
| Q1 24 | $15.2M | $-90.1M |
自由现金流MIRMZLAB
| Q4 25 | $5.5M | $-26.7M | ||
| Q3 25 | $39.5M | $-35.0M | ||
| Q2 25 | $11.9M | $-33.9M | ||
| Q1 25 | $-2.0M | $-63.2M | ||
| Q4 24 | $-5.1M | $-58.4M | ||
| Q3 24 | $3.8M | $-28.2M | ||
| Q2 24 | $-4.6M | $-42.9M | ||
| Q1 24 | $15.2M | $-91.1M |
自由现金流率MIRMZLAB
| Q4 25 | 3.7% | -21.0% | ||
| Q3 25 | 29.7% | -30.4% | ||
| Q2 25 | 9.3% | -31.1% | ||
| Q1 25 | -1.8% | -59.9% | ||
| Q4 24 | -5.1% | -53.8% | ||
| Q3 24 | 4.2% | -27.7% | ||
| Q2 24 | -5.9% | -42.9% | ||
| Q1 24 | 22.0% | -104.5% |
资本支出强度MIRMZLAB
| Q4 25 | 0.4% | 0.5% | ||
| Q3 25 | 0.1% | 2.6% | ||
| Q2 25 | 0.1% | 2.6% | ||
| Q1 25 | 0.0% | 1.5% | ||
| Q4 24 | 0.0% | 2.4% | ||
| Q3 24 | 0.2% | 1.3% | ||
| Q2 24 | 1.0% | 0.7% | ||
| Q1 24 | 0.0% | 1.1% |
现金转化率MIRMZLAB
| Q4 25 | — | — | ||
| Q3 25 | 13.66× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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
MIRM
| Livmarli | $106.4M | 71% |
| Bile Acid Medicines | $42.5M | 29% |
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% |
