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MANNKIND CORP（MNKD）与Repay Holdings Corp（RPAY）财务数据对比。点击上方公司名可切换其他公司
MANNKIND CORP的季度营收约是Repay Holdings Corp的1.4倍（$112.0M vs $78.6M），MANNKIND CORP净利率更高（-14.2% vs -178.3%，领先164.0%），MANNKIND CORP同比增速更快（45.8% vs 0.4%），Repay Holdings Corp自由现金流更多（$23.2M vs $-10.0M），过去两年MANNKIND CORP的营收复合增速更高（30.0% vs -1.3%）
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。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
MNKD vs RPAY — 直观对比
营收规模更大
MNKD
是对方的1.4倍
$78.6M
营收增速更快
MNKD
高出45.4%
0.4%
净利率更高
MNKD
高出164.0%
-178.3%
自由现金流更多
RPAY
多$33.2M
$-10.0M
两年增速更快
MNKD
近两年复合增速
-1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $112.0M | $78.6M |
| 净利润 | $-15.9M | $-140.1M |
| 毛利率 | 87.6% | 74.2% |
| 营业利润率 | -6.9% | -182.2% |
| 净利率 | -14.2% | -178.3% |
| 营收同比 | 45.8% | 0.4% |
| 净利润同比 | -314.9% | -3304.1% |
| 每股收益（稀释后） | $-0.05 | $-1.68 |
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MNKDRPAY
| Q4 25 | $112.0M | $78.6M | ||
| Q3 25 | $82.1M | $77.7M | ||
| Q2 25 | $76.5M | $75.6M | ||
| Q1 25 | $78.4M | $77.3M | ||
| Q4 24 | $76.8M | $78.3M | ||
| Q3 24 | $70.1M | $79.1M | ||
| Q2 24 | $72.4M | $74.9M | ||
| Q1 24 | $66.3M | $80.7M |
净利润MNKDRPAY
| Q4 25 | $-15.9M | $-140.1M | ||
| Q3 25 | $8.0M | $-6.4M | ||
| Q2 25 | $668.0K | $-102.3M | ||
| Q1 25 | $13.2M | $-7.9M | ||
| Q4 24 | $7.4M | $-4.1M | ||
| Q3 24 | $11.6M | $3.2M | ||
| Q2 24 | $-2.0M | $-4.1M | ||
| Q1 24 | $10.6M | $-5.2M |
毛利率MNKDRPAY
| Q4 25 | 87.6% | 74.2% | ||
| Q3 25 | 94.5% | 74.4% | ||
| Q2 25 | 94.0% | 75.7% | ||
| Q1 25 | 95.2% | 75.9% | ||
| Q4 24 | 93.7% | 76.3% | ||
| Q3 24 | 95.4% | 77.8% | ||
| Q2 24 | 92.3% | 78.2% | ||
| Q1 24 | 94.2% | 76.2% |
营业利润率MNKDRPAY
| Q4 25 | -6.9% | -182.2% | ||
| Q3 25 | 23.0% | -3.9% | ||
| Q2 25 | 6.9% | -138.7% | ||
| Q1 25 | 28.5% | -4.7% | ||
| Q4 24 | 34.5% | -1.5% | ||
| Q3 24 | 18.2% | -0.9% | ||
| Q2 24 | 22.9% | -4.6% | ||
| Q1 24 | 25.2% | -3.1% |
净利率MNKDRPAY
| Q4 25 | -14.2% | -178.3% | ||
| Q3 25 | 9.7% | -8.3% | ||
| Q2 25 | 0.9% | -135.2% | ||
| Q1 25 | 16.8% | -10.3% | ||
| Q4 24 | 9.7% | -5.3% | ||
| Q3 24 | 16.5% | 4.1% | ||
| Q2 24 | -2.8% | -5.4% | ||
| Q1 24 | 16.0% | -6.5% |
每股收益（稀释后）MNKDRPAY
| Q4 25 | $-0.05 | $-1.68 | ||
| Q3 25 | $0.03 | $-0.08 | ||
| Q2 25 | $0.00 | $-1.15 | ||
| Q1 25 | $0.04 | $-0.09 | ||
| Q4 24 | $0.03 | $-0.04 | ||
| Q3 24 | $0.04 | $0.03 | ||
| Q2 24 | $-0.01 | $-0.04 | ||
| Q1 24 | $0.04 | $-0.06 |
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 | $115.7M |
| 总债务越低越好 | $354.6M | $280.1M |
| 股东权益账面价值 | $-51.0M | $484.4M |
| 总资产 | $792.2M | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资MNKDRPAY
| Q4 25 | $171.3M | $115.7M | ||
| Q3 25 | $260.0M | $95.7M | ||
| Q2 25 | $179.0M | $162.6M | ||
| Q1 25 | $181.5M | $165.5M | ||
| Q4 24 | $197.3M | $189.5M | ||
| Q3 24 | $251.6M | $168.7M | ||
| Q2 24 | $247.8M | $147.1M | ||
| Q1 24 | $300.7M | $128.3M |
总债务MNKDRPAY
| Q4 25 | $354.6M | $280.1M | ||
| Q3 25 | $109.7M | $279.5M | ||
| Q2 25 | $36.2M | $279.0M | ||
| Q1 25 | $36.1M | $497.6M | ||
| Q4 24 | $36.1M | $496.8M | ||
| Q3 24 | $227.9M | $496.2M | ||
| Q2 24 | $227.6M | $435.6M | ||
| Q1 24 | $264.1M | $434.9M |
股东权益MNKDRPAY
| Q4 25 | $-51.0M | $484.4M | ||
| Q3 25 | $-44.6M | $616.9M | ||
| Q2 25 | $-55.0M | $633.7M | ||
| Q1 25 | $-58.6M | $755.7M | ||
| Q4 24 | $-78.8M | $761.3M | ||
| Q3 24 | $-209.9M | $754.7M | ||
| Q2 24 | $-225.8M | $815.4M | ||
| Q1 24 | $-230.0M | $813.8M |
总资产MNKDRPAY
| Q4 25 | $792.2M | $1.2B | ||
| Q3 25 | $494.6M | $1.3B | ||
| Q2 25 | $411.7M | $1.4B | ||
| Q1 25 | $410.1M | $1.5B | ||
| Q4 24 | $393.8M | $1.6B | ||
| Q3 24 | $464.2M | $1.6B | ||
| Q2 24 | $443.8M | $1.5B | ||
| Q1 24 | $480.9M | $1.5B |
负债/权益比MNKDRPAY
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $-10.0M | $23.2M |
| 自由现金流率自由现金流/营收 | -8.9% | 29.6% |
| 资本支出强度资本支出/营收 | 1.8% | 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 | $13.7M | $90.7M |
8季度趋势，按日历期对齐
经营现金流MNKDRPAY
| Q4 25 | $-8.0M | $23.3M | ||
| Q3 25 | $23.6M | $32.2M | ||
| Q2 25 | $8.9M | $33.1M | ||
| Q1 25 | $-6.4M | $2.5M | ||
| Q4 24 | $22.6M | $34.3M | ||
| Q3 24 | $9.3M | $60.1M | ||
| Q2 24 | $3.8M | $31.0M | ||
| Q1 24 | $6.7M | $24.8M |
自由现金流MNKDRPAY
| Q4 25 | $-10.0M | $23.2M | ||
| Q3 25 | $22.5M | $32.1M | ||
| Q2 25 | $7.8M | $33.0M | ||
| Q1 25 | $-6.7M | $2.4M | ||
| Q4 24 | $19.7M | $34.0M | ||
| Q3 24 | $7.9M | $59.8M | ||
| Q2 24 | $861.0K | $30.5M | ||
| Q1 24 | $4.3M | $24.7M |
自由现金流率MNKDRPAY
| Q4 25 | -8.9% | 29.6% | ||
| Q3 25 | 27.4% | 41.3% | ||
| Q2 25 | 10.2% | 43.6% | ||
| Q1 25 | -8.6% | 3.0% | ||
| Q4 24 | 25.7% | 43.5% | ||
| Q3 24 | 11.3% | 75.6% | ||
| Q2 24 | 1.2% | 40.7% | ||
| Q1 24 | 6.5% | 30.6% |
资本支出强度MNKDRPAY
| Q4 25 | 1.8% | 0.1% | ||
| Q3 25 | 1.4% | 0.2% | ||
| Q2 25 | 1.5% | 0.1% | ||
| Q1 25 | 0.4% | 0.2% | ||
| Q4 24 | 3.8% | 0.3% | ||
| Q3 24 | 2.0% | 0.3% | ||
| Q2 24 | 4.1% | 0.6% | ||
| Q1 24 | 3.6% | 0.1% |
现金转化率MNKDRPAY
| Q4 25 | — | — | ||
| Q3 25 | 2.96× | — | ||
| Q2 25 | 13.40× | — | ||
| Q1 25 | -0.48× | — | ||
| Q4 24 | 3.05× | — | ||
| Q3 24 | 0.81× | 18.52× | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.63× | — |
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% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
