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MANNKIND CORP（MNKD）与Ribbon Communications Inc.（RBBN）财务数据对比。点击上方公司名可切换其他公司
Ribbon Communications Inc.的季度营收约是MANNKIND CORP的1.5倍（$162.6M vs $112.0M），Ribbon Communications Inc.净利率更高（54.8% vs -14.2%，领先69.0%），MANNKIND CORP同比增速更快（45.8% vs -10.3%），过去两年MANNKIND CORP的营收复合增速更高（30.0% vs -8.1%）
曼凯德公司是一家生物制药企业，成立于1991年2月，总部位于美国康涅狄格州丹伯里，专注于糖尿病、肺动脉高压等疾病治疗药物的研发、生产及商业化推广，致力于为相关患者提供创新的治疗方案。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
MNKD vs RBBN — 直观对比
营收规模更大
RBBN
是对方的1.5倍
$112.0M
营收增速更快
MNKD
高出56.1%
-10.3%
净利率更高
RBBN
高出69.0%
-14.2%
两年增速更快
MNKD
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $112.0M | $162.6M |
| 净利润 | $-15.9M | $89.1M |
| 毛利率 | 87.6% | 42.9% |
| 营业利润率 | -6.9% | 37.6% |
| 净利率 | -14.2% | 54.8% |
| 营收同比 | 45.8% | -10.3% |
| 净利润同比 | -314.9% | — |
| 每股收益（稀释后） | $-0.05 | $0.50 |
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MNKDRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $112.0M | $227.3M | ||
| Q3 25 | $82.1M | $215.4M | ||
| Q2 25 | $76.5M | $220.6M | ||
| Q1 25 | $78.4M | $181.3M | ||
| Q4 24 | $76.8M | $251.4M | ||
| Q3 24 | $70.1M | $210.2M | ||
| Q2 24 | $72.4M | $192.6M |
净利润MNKDRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $-15.9M | — | ||
| Q3 25 | $8.0M | $-12.1M | ||
| Q2 25 | $668.0K | $-11.1M | ||
| Q1 25 | $13.2M | $-26.2M | ||
| Q4 24 | $7.4M | — | ||
| Q3 24 | $11.6M | $-13.4M | ||
| Q2 24 | $-2.0M | $-16.8M |
毛利率MNKDRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | 87.6% | 53.3% | ||
| Q3 25 | 94.5% | 50.1% | ||
| Q2 25 | 94.0% | 49.6% | ||
| Q1 25 | 95.2% | 45.4% | ||
| Q4 24 | 93.7% | 55.7% | ||
| Q3 24 | 95.4% | 52.1% | ||
| Q2 24 | 92.3% | 50.8% |
营业利润率MNKDRBBN
| Q1 26 | — | 37.6% | ||
| Q4 25 | -6.9% | 4.1% | ||
| Q3 25 | 23.0% | 1.3% | ||
| Q2 25 | 6.9% | 1.9% | ||
| Q1 25 | 28.5% | -10.8% | ||
| Q4 24 | 34.5% | 13.2% | ||
| Q3 24 | 18.2% | -0.4% | ||
| Q2 24 | 22.9% | -1.0% |
净利率MNKDRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | -14.2% | — | ||
| Q3 25 | 9.7% | -5.6% | ||
| Q2 25 | 0.9% | -5.0% | ||
| Q1 25 | 16.8% | -14.5% | ||
| Q4 24 | 9.7% | — | ||
| Q3 24 | 16.5% | -6.4% | ||
| Q2 24 | -2.8% | -8.7% |
每股收益（稀释后）MNKDRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $-0.05 | $0.50 | ||
| Q3 25 | $0.03 | $-0.07 | ||
| Q2 25 | $0.00 | $-0.06 | ||
| Q1 25 | $0.04 | $-0.15 | ||
| Q4 24 | $0.03 | $0.05 | ||
| Q3 24 | $0.04 | $-0.08 | ||
| Q2 24 | $-0.01 | $-0.10 |
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 | $171.3M | $67.6M |
| 总债务越低越好 | $354.6M | — |
| 股东权益账面价值 | $-51.0M | $419.1M |
| 总资产 | $792.2M | — |
| 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MNKDRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $171.3M | $96.4M | ||
| Q3 25 | $260.0M | $74.8M | ||
| Q2 25 | $179.0M | $60.5M | ||
| Q1 25 | $181.5M | $71.2M | ||
| Q4 24 | $197.3M | $87.8M | ||
| Q3 24 | $251.6M | $37.2M | ||
| Q2 24 | $247.8M | $64.6M |
总债务MNKDRBBN
| Q1 26 | — | — | ||
| Q4 25 | $354.6M | $342.1M | ||
| Q3 25 | $109.7M | $344.3M | ||
| Q2 25 | $36.2M | $346.5M | ||
| Q1 25 | $36.1M | $347.4M | ||
| Q4 24 | $36.1M | $348.3M | ||
| Q3 24 | $227.9M | $349.1M | ||
| Q2 24 | $227.6M | $350.0M |
股东权益MNKDRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $-51.0M | $449.0M | ||
| Q3 25 | $-44.6M | $360.1M | ||
| Q2 25 | $-55.0M | $370.4M | ||
| Q1 25 | $-58.6M | $381.8M | ||
| Q4 24 | $-78.8M | $404.6M | ||
| Q3 24 | $-209.9M | $395.5M | ||
| Q2 24 | $-225.8M | $405.0M |
总资产MNKDRBBN
| Q1 26 | — | — | ||
| Q4 25 | $792.2M | $1.2B | ||
| Q3 25 | $494.6M | $1.1B | ||
| Q2 25 | $411.7M | $1.1B | ||
| Q1 25 | $410.1M | $1.1B | ||
| Q4 24 | $393.8M | $1.2B | ||
| Q3 24 | $464.2M | $1.1B | ||
| Q2 24 | $443.8M | $1.1B |
负债/权益比MNKDRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 0.86× |
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 | $-8.0M | — |
| 自由现金流经营现金流 - 资本支出 | $-10.0M | — |
| 自由现金流率自由现金流/营收 | -8.9% | — |
| 资本支出强度资本支出/营收 | 1.8% | — |
| 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 | $13.7M | — |
8季度趋势，按日历期对齐
经营现金流MNKDRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-8.0M | $29.2M | ||
| Q3 25 | $23.6M | $26.5M | ||
| Q2 25 | $8.9M | $-795.0K | ||
| Q1 25 | $-6.4M | $-3.5M | ||
| Q4 24 | $22.6M | $61.8M | ||
| Q3 24 | $9.3M | $-14.8M | ||
| Q2 24 | $3.8M | $-9.8M |
自由现金流MNKDRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-10.0M | $27.3M | ||
| Q3 25 | $22.5M | $21.0M | ||
| Q2 25 | $7.8M | $-6.5M | ||
| Q1 25 | $-6.7M | $-15.7M | ||
| Q4 24 | $19.7M | $53.8M | ||
| Q3 24 | $7.9M | $-23.7M | ||
| Q2 24 | $861.0K | $-12.9M |
自由现金流率MNKDRBBN
| Q1 26 | — | — | ||
| Q4 25 | -8.9% | 12.0% | ||
| Q3 25 | 27.4% | 9.7% | ||
| Q2 25 | 10.2% | -2.9% | ||
| Q1 25 | -8.6% | -8.7% | ||
| Q4 24 | 25.7% | 21.4% | ||
| Q3 24 | 11.3% | -11.3% | ||
| Q2 24 | 1.2% | -6.7% |
资本支出强度MNKDRBBN
| Q1 26 | — | — | ||
| Q4 25 | 1.8% | 0.9% | ||
| Q3 25 | 1.4% | 2.6% | ||
| Q2 25 | 1.5% | 2.6% | ||
| Q1 25 | 0.4% | 6.7% | ||
| Q4 24 | 3.8% | 3.2% | ||
| Q3 24 | 2.0% | 4.2% | ||
| Q2 24 | 4.1% | 1.6% |
现金转化率MNKDRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 2.96× | — | ||
| Q2 25 | 13.40× | — | ||
| Q1 25 | -0.48× | — | ||
| Q4 24 | 3.05× | — | ||
| Q3 24 | 0.81× | — | ||
| Q2 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
MNKD
| Products | $50.4M | 45% |
| Royalty | $33.6M | 30% |
| Afrezza | $22.9M | 20% |
| V Go | $4.3M | 4% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
