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MARINE PRODUCTS CORP（MPX）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
再鼎医药的季度营收约是MARINE PRODUCTS CORP的2.0倍（$127.1M vs $64.6M），MARINE PRODUCTS CORP同比增速更快（35.0% vs 17.1%），MARINE PRODUCTS CORP自由现金流更多（$4.1M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs -3.5%）
Marine Products Corp旗下的West Marine是一家总部位于美国佛罗里达州劳德代尔堡的企业，在北美地区经营247家船艇用品及渔具零售连锁店，同时运营名为蓝色未来的非营利组织，品牌旗舰店面积超5万平方英尺，于2011年11月11日在劳德代尔堡正式开业。
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。
MPX vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的2.0倍
$64.6M
营收增速更快
MPX
高出17.9%
17.1%
自由现金流更多
MPX
多$30.8M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
-3.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $64.6M | $127.1M |
| 净利润 | $2.4M | — |
| 毛利率 | 19.6% | 51.0% |
| 营业利润率 | 5.8% | -54.6% |
| 净利率 | 3.7% | — |
| 营收同比 | 35.0% | 17.1% |
| 净利润同比 | -44.6% | — |
| 每股收益（稀释后） | $0.07 | $-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MPXZLAB
| Q4 25 | $64.6M | $127.1M | ||
| Q3 25 | $53.1M | $115.4M | ||
| Q2 25 | $67.7M | $109.1M | ||
| Q1 25 | $59.0M | $105.7M | ||
| Q4 24 | $47.8M | $108.5M | ||
| Q3 24 | $49.9M | $101.8M | ||
| Q2 24 | $69.5M | $100.1M | ||
| Q1 24 | $69.3M | $87.1M |
净利润MPXZLAB
| Q4 25 | $2.4M | — | ||
| Q3 25 | $2.6M | $-36.0M | ||
| Q2 25 | $4.2M | $-40.7M | ||
| Q1 25 | $2.2M | $-48.4M | ||
| Q4 24 | $4.3M | — | ||
| Q3 24 | $3.4M | $-41.7M | ||
| Q2 24 | $5.6M | $-80.3M | ||
| Q1 24 | $4.6M | $-53.5M |
毛利率MPXZLAB
| Q4 25 | 19.6% | 51.0% | ||
| Q3 25 | 19.2% | 59.5% | ||
| Q2 25 | 19.1% | 60.6% | ||
| Q1 25 | 18.6% | 63.6% | ||
| Q4 24 | 19.2% | 61.5% | ||
| Q3 24 | 18.4% | 64.1% | ||
| Q2 24 | 18.9% | 64.9% | ||
| Q1 24 | 20.2% | 61.4% |
营业利润率MPXZLAB
| Q4 25 | 5.8% | -54.6% | ||
| Q3 25 | 5.4% | -42.3% | ||
| Q2 25 | 7.1% | -50.3% | ||
| Q1 25 | 4.4% | -53.3% | ||
| Q4 24 | 7.7% | -62.6% | ||
| Q3 24 | 7.2% | -66.6% | ||
| Q2 24 | 8.3% | -76.0% | ||
| Q1 24 | 7.6% | -80.7% |
净利率MPXZLAB
| Q4 25 | 3.7% | — | ||
| Q3 25 | 5.0% | -31.2% | ||
| Q2 25 | 6.1% | -37.3% | ||
| Q1 25 | 3.7% | -45.8% | ||
| Q4 24 | 8.9% | — | ||
| Q3 24 | 6.8% | -40.9% | ||
| Q2 24 | 8.0% | -80.2% | ||
| Q1 24 | 6.6% | -61.4% |
每股收益（稀释后）MPXZLAB
| Q4 25 | $0.07 | $-0.05 | ||
| Q3 25 | $0.07 | $-0.03 | ||
| Q2 25 | $0.12 | $-0.04 | ||
| Q1 25 | $0.06 | $-0.04 | ||
| Q4 24 | $0.13 | $-0.09 | ||
| Q3 24 | $0.10 | $-0.04 | ||
| Q2 24 | $0.14 | $-0.08 | ||
| Q1 24 | $0.13 | $-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 | — | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $125.0M | $715.5M |
| 总资产 | $147.2M | $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MPXZLAB
| Q4 25 | — | $689.6M | ||
| Q3 25 | — | $717.2M | ||
| Q2 25 | — | $732.2M | ||
| Q1 25 | — | $757.3M | ||
| Q4 24 | — | $779.7M | ||
| Q3 24 | — | $616.1M | ||
| Q2 24 | — | $630.0M | ||
| Q1 24 | — | $650.8M |
股东权益MPXZLAB
| Q4 25 | $125.0M | $715.5M | ||
| Q3 25 | $126.3M | $759.9M | ||
| Q2 25 | $127.2M | $791.7M | ||
| Q1 25 | $126.4M | $810.8M | ||
| Q4 24 | $129.0M | $840.9M | ||
| Q3 24 | $128.8M | $667.7M | ||
| Q2 24 | $129.3M | $704.2M | ||
| Q1 24 | $151.4M | $762.2M |
总资产MPXZLAB
| Q4 25 | $147.2M | $1.2B | ||
| Q3 25 | $179.5M | $1.2B | ||
| Q2 25 | $173.2M | $1.2B | ||
| Q1 25 | $182.9M | $1.2B | ||
| Q4 24 | $171.2M | $1.2B | ||
| Q3 24 | $176.3M | $985.3M | ||
| Q2 24 | $175.7M | $987.4M | ||
| Q1 24 | $204.0M | $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 | $4.7M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $4.1M | $-26.7M |
| 自由现金流率自由现金流/营收 | 6.4% | -21.0% |
| 资本支出强度资本支出/营收 | 0.9% | 0.5% |
| 现金转化率经营现金流/净利润 | 2.00× | — |
| 过去12个月自由现金流最近4个季度 | $14.9M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流MPXZLAB
| Q4 25 | $4.7M | $-26.0M | ||
| Q3 25 | $2.6M | $-32.0M | ||
| Q2 25 | $-1.6M | $-31.0M | ||
| Q1 25 | $10.8M | $-61.7M | ||
| Q4 24 | $4.6M | $-55.8M | ||
| Q3 24 | $5.1M | $-26.8M | ||
| Q2 24 | $3.8M | $-42.2M | ||
| Q1 24 | $15.9M | $-90.1M |
自由现金流MPXZLAB
| Q4 25 | $4.1M | $-26.7M | ||
| Q3 25 | $2.1M | $-35.0M | ||
| Q2 25 | $-2.0M | $-33.9M | ||
| Q1 25 | $10.7M | $-63.2M | ||
| Q4 24 | $3.6M | $-58.4M | ||
| Q3 24 | $3.2M | $-28.2M | ||
| Q2 24 | $3.0M | $-42.9M | ||
| Q1 24 | $15.0M | $-91.1M |
自由现金流率MPXZLAB
| Q4 25 | 6.4% | -21.0% | ||
| Q3 25 | 4.0% | -30.4% | ||
| Q2 25 | -3.0% | -31.1% | ||
| Q1 25 | 18.1% | -59.9% | ||
| Q4 24 | 7.6% | -53.8% | ||
| Q3 24 | 6.5% | -27.7% | ||
| Q2 24 | 4.4% | -42.9% | ||
| Q1 24 | 21.7% | -104.5% |
资本支出强度MPXZLAB
| Q4 25 | 0.9% | 0.5% | ||
| Q3 25 | 0.8% | 2.6% | ||
| Q2 25 | 0.6% | 2.6% | ||
| Q1 25 | 0.2% | 1.5% | ||
| Q4 24 | 2.1% | 2.4% | ||
| Q3 24 | 3.8% | 1.3% | ||
| Q2 24 | 1.1% | 0.7% | ||
| Q1 24 | 1.3% | 1.1% |
现金转化率MPXZLAB
| Q4 25 | 2.00× | — | ||
| Q3 25 | 0.97× | — | ||
| Q2 25 | -0.39× | — | ||
| Q1 25 | 4.88× | — | ||
| Q4 24 | 1.09× | — | ||
| Q3 24 | 1.51× | — | ||
| Q2 24 | 0.68× | — | ||
| Q1 24 | 3.46× | — |
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
MPX
| Boats And Accessories | $63.4M | 98% |
| Parts | $1.1M | 2% |
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% |
