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摩凡陀集团（MOV）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
摩凡陀集团的季度营收约是再鼎医药的1.5倍（$186.1M vs $127.1M），再鼎医药同比增速更快（17.1% vs 1.9%），摩凡陀集团自由现金流更多（$11.6M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 2.9%）
摩凡陀集团是源自瑞士的美国奢侈钟表品牌，创始于1881年，品牌名取自世界语，原意为“律动”。摩凡陀腕表以12点钟位置标志性的金属圆点设计与极简风格著称，其中博物馆腕表更是品牌最广为人知的经典代表作。
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。
MOV vs ZLAB — 直观对比
营收规模更大
MOV
是对方的1.5倍
$127.1M
营收增速更快
ZLAB
高出15.3%
1.9%
自由现金流更多
MOV
多$38.3M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
2.9%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $186.1M | $127.1M |
| 净利润 | $9.6M | — |
| 毛利率 | 54.3% | 51.0% |
| 营业利润率 | 6.3% | -54.6% |
| 净利率 | 5.1% | — |
| 营收同比 | 1.9% | 17.1% |
| 净利润同比 | 89.8% | — |
| 每股收益（稀释后） | $0.42 | $-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MOVZLAB
| Q4 25 | $186.1M | $127.1M | ||
| Q3 25 | $161.8M | $115.4M | ||
| Q2 25 | $131.8M | $109.1M | ||
| Q1 25 | $181.5M | $105.7M | ||
| Q4 24 | $180.5M | $108.5M | ||
| Q3 24 | $157.0M | $101.8M | ||
| Q2 24 | $134.4M | $100.1M | ||
| Q1 24 | $175.8M | $87.1M |
净利润MOVZLAB
| Q4 25 | $9.6M | — | ||
| Q3 25 | $3.0M | $-36.0M | ||
| Q2 25 | $1.4M | $-40.7M | ||
| Q1 25 | $8.1M | $-48.4M | ||
| Q4 24 | $4.8M | — | ||
| Q3 24 | $3.5M | $-41.7M | ||
| Q2 24 | $2.0M | $-80.3M | ||
| Q1 24 | $9.8M | $-53.5M |
毛利率MOVZLAB
| Q4 25 | 54.3% | 51.0% | ||
| Q3 25 | 54.1% | 59.5% | ||
| Q2 25 | 54.1% | 60.6% | ||
| Q1 25 | 54.2% | 63.6% | ||
| Q4 24 | 53.5% | 61.5% | ||
| Q3 24 | 54.3% | 64.1% | ||
| Q2 24 | 54.3% | 64.9% | ||
| Q1 24 | 53.5% | 61.4% |
营业利润率MOVZLAB
| Q4 25 | 6.3% | -54.6% | ||
| Q3 25 | 2.5% | -42.3% | ||
| Q2 25 | 0.2% | -50.3% | ||
| Q1 25 | 5.1% | -53.3% | ||
| Q4 24 | 3.3% | -62.6% | ||
| Q3 24 | 1.7% | -66.6% | ||
| Q2 24 | 1.6% | -76.0% | ||
| Q1 24 | 6.1% | -80.7% |
净利率MOVZLAB
| Q4 25 | 5.1% | — | ||
| Q3 25 | 1.8% | -31.2% | ||
| Q2 25 | 1.1% | -37.3% | ||
| Q1 25 | 4.4% | -45.8% | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 2.2% | -40.9% | ||
| Q2 24 | 1.5% | -80.2% | ||
| Q1 24 | 5.6% | -61.4% |
每股收益（稀释后）MOVZLAB
| Q4 25 | $0.42 | $-0.05 | ||
| Q3 25 | $0.13 | $-0.03 | ||
| Q2 25 | $0.06 | $-0.04 | ||
| Q1 25 | $0.36 | $-0.04 | ||
| Q4 24 | $0.21 | $-0.09 | ||
| Q3 24 | $0.15 | $-0.04 | ||
| Q2 24 | $0.09 | $-0.08 | ||
| Q1 24 | $0.44 | $-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 | $183.9M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $497.5M | $715.5M |
| 总资产 | $751.9M | $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MOVZLAB
| Q4 25 | $183.9M | $689.6M | ||
| Q3 25 | $180.5M | $717.2M | ||
| Q2 25 | $203.1M | $732.2M | ||
| Q1 25 | $208.5M | $757.3M | ||
| Q4 24 | $181.5M | $779.7M | ||
| Q3 24 | $198.3M | $616.1M | ||
| Q2 24 | $225.4M | $630.0M | ||
| Q1 24 | $262.1M | $650.8M |
股东权益MOVZLAB
| Q4 25 | $497.5M | $715.5M | ||
| Q3 25 | $489.9M | $759.9M | ||
| Q2 25 | $493.2M | $791.7M | ||
| Q1 25 | $481.3M | $810.8M | ||
| Q4 24 | $491.3M | $840.9M | ||
| Q3 24 | $492.0M | $667.7M | ||
| Q2 24 | $489.6M | $704.2M | ||
| Q1 24 | $505.9M | $762.2M |
总资产MOVZLAB
| Q4 25 | $751.9M | $1.2B | ||
| Q3 25 | $748.7M | $1.2B | ||
| Q2 25 | $747.2M | $1.2B | ||
| Q1 25 | $729.2M | $1.2B | ||
| Q4 24 | $747.2M | $1.2B | ||
| Q3 24 | $742.5M | $985.3M | ||
| Q2 24 | $736.0M | $987.4M | ||
| Q1 24 | $756.5M | $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 | $12.3M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $11.6M | $-26.7M |
| 自由现金流率自由现金流/营收 | 6.2% | -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 | 1.28× | — |
| 过去12个月自由现金流最近4个季度 | $35.3M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流MOVZLAB
| Q4 25 | $12.3M | $-26.0M | ||
| Q3 25 | $-3.8M | $-32.0M | ||
| Q2 25 | $-7.2M | $-31.0M | ||
| Q1 25 | $39.1M | $-61.7M | ||
| Q4 24 | $-4.7M | $-55.8M | ||
| Q3 24 | $-17.8M | $-26.8M | ||
| Q2 24 | $-18.1M | $-42.2M | ||
| Q1 24 | $69.4M | $-90.1M |
自由现金流MOVZLAB
| Q4 25 | $11.6M | $-26.7M | ||
| Q3 25 | $-5.1M | $-35.0M | ||
| Q2 25 | $-8.7M | $-33.9M | ||
| Q1 25 | $37.5M | $-63.2M | ||
| Q4 24 | $-7.2M | $-58.4M | ||
| Q3 24 | $-20.1M | $-28.2M | ||
| Q2 24 | $-19.7M | $-42.9M | ||
| Q1 24 | $67.8M | $-91.1M |
自由现金流率MOVZLAB
| Q4 25 | 6.2% | -21.0% | ||
| Q3 25 | -3.1% | -30.4% | ||
| Q2 25 | -6.6% | -31.1% | ||
| Q1 25 | 20.7% | -59.9% | ||
| Q4 24 | -4.0% | -53.8% | ||
| Q3 24 | -12.8% | -27.7% | ||
| Q2 24 | -14.7% | -42.9% | ||
| Q1 24 | 38.6% | -104.5% |
资本支出强度MOVZLAB
| Q4 25 | 0.4% | 0.5% | ||
| Q3 25 | 0.8% | 2.6% | ||
| Q2 25 | 1.2% | 2.6% | ||
| Q1 25 | 0.9% | 1.5% | ||
| Q4 24 | 1.4% | 2.4% | ||
| Q3 24 | 1.5% | 1.3% | ||
| Q2 24 | 1.2% | 0.7% | ||
| Q1 24 | 0.9% | 1.1% |
现金转化率MOVZLAB
| Q4 25 | 1.28× | — | ||
| Q3 25 | -1.27× | — | ||
| Q2 25 | -5.08× | — | ||
| Q1 25 | 4.86× | — | ||
| Q4 24 | -0.98× | — | ||
| Q3 24 | -5.14× | — | ||
| Q2 24 | -8.97× | — | ||
| Q1 24 | 7.06× | — |
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
MOV
| Other | $81.4M | 44% |
| Owned Brands Category | $46.0M | 25% |
| Sales Channel Directly To Consumer | $35.3M | 19% |
| Company Stores | $23.4M | 13% |
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% |
