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MERCURY SYSTEMS INC（MRCY）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
MERCURY SYSTEMS INC的季度营收约是再鼎医药的1.9倍（$235.8M vs $127.1M），再鼎医药同比增速更快（17.1% vs 11.5%），MERCURY SYSTEMS INC自由现金流更多（$-1.8M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs -2.6%）
Mercury Systems是一家服务于航空航天与国防领域的科技企业，专注于设计、研发及生产开放式架构计算机软硬件产品，覆盖安全嵌入式处理模块与子系统、航电任务计算机及显示器、加固型安全服务器、可信微电子组件与子系统等多类产品。
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。
MRCY vs ZLAB — 直观对比
营收规模更大
MRCY
是对方的1.9倍
$127.1M
营收增速更快
ZLAB
高出5.6%
11.5%
自由现金流更多
MRCY
多$24.9M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
-2.6%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $235.8M | $127.1M |
| 净利润 | $-2.9M | — |
| 毛利率 | 99.6% | 51.0% |
| 营业利润率 | 72.9% | -54.6% |
| 净利率 | -1.2% | — |
| 营收同比 | 11.5% | 17.1% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $-0.04 | $-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MRCYZLAB
| Q1 26 | $235.8M | — | ||
| Q4 25 | $232.9M | $127.1M | ||
| Q3 25 | $225.2M | $115.4M | ||
| Q2 25 | $273.1M | $109.1M | ||
| Q1 25 | $211.4M | $105.7M | ||
| Q4 24 | $223.1M | $108.5M | ||
| Q3 24 | $204.4M | $101.8M | ||
| Q2 24 | $248.6M | $100.1M |
净利润MRCYZLAB
| Q1 26 | $-2.9M | — | ||
| Q4 25 | $-15.1M | — | ||
| Q3 25 | $-12.5M | $-36.0M | ||
| Q2 25 | $16.4M | $-40.7M | ||
| Q1 25 | $-19.2M | $-48.4M | ||
| Q4 24 | $-17.6M | — | ||
| Q3 24 | $-17.5M | $-41.7M | ||
| Q2 24 | $-10.8M | $-80.3M |
毛利率MRCYZLAB
| Q1 26 | 99.6% | — | ||
| Q4 25 | 26.0% | 51.0% | ||
| Q3 25 | 27.9% | 59.5% | ||
| Q2 25 | 31.0% | 60.6% | ||
| Q1 25 | 27.0% | 63.6% | ||
| Q4 24 | 27.3% | 61.5% | ||
| Q3 24 | 25.3% | 64.1% | ||
| Q2 24 | 29.5% | 64.9% |
营业利润率MRCYZLAB
| Q1 26 | 72.9% | — | ||
| Q4 25 | -4.6% | -54.6% | ||
| Q3 25 | -3.8% | -42.3% | ||
| Q2 25 | 8.6% | -50.3% | ||
| Q1 25 | -8.2% | -53.3% | ||
| Q4 24 | -5.6% | -62.6% | ||
| Q3 24 | -6.6% | -66.6% | ||
| Q2 24 | -3.2% | -76.0% |
净利率MRCYZLAB
| Q1 26 | -1.2% | — | ||
| Q4 25 | -6.5% | — | ||
| Q3 25 | -5.6% | -31.2% | ||
| Q2 25 | 6.0% | -37.3% | ||
| Q1 25 | -9.1% | -45.8% | ||
| Q4 24 | -7.9% | — | ||
| Q3 24 | -8.6% | -40.9% | ||
| Q2 24 | -4.3% | -80.2% |
每股收益（稀释后）MRCYZLAB
| Q1 26 | $-0.04 | — | ||
| Q4 25 | $-0.26 | $-0.05 | ||
| Q3 25 | $-0.21 | $-0.03 | ||
| Q2 25 | $0.28 | $-0.04 | ||
| Q1 25 | $-0.33 | $-0.04 | ||
| Q4 24 | $-0.30 | $-0.09 | ||
| Q3 24 | $-0.30 | $-0.04 | ||
| Q2 24 | $-0.18 | $-0.08 |
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 | $331.8M | $689.6M |
| 总债务越低越好 | $591.5M | — |
| 股东权益账面价值 | $1.5B | $715.5M |
| 总资产 | $2.5B | $1.2B |
| 负债/权益比越低杠杆越低 | 0.40× | — |
8季度趋势，按日历期对齐
现金及短期投资MRCYZLAB
| Q1 26 | $331.8M | — | ||
| Q4 25 | $335.0M | $689.6M | ||
| Q3 25 | $304.7M | $717.2M | ||
| Q2 25 | $309.1M | $732.2M | ||
| Q1 25 | $269.8M | $757.3M | ||
| Q4 24 | $242.6M | $779.7M | ||
| Q3 24 | $158.1M | $616.1M | ||
| Q2 24 | $180.5M | $630.0M |
总债务MRCYZLAB
| Q1 26 | $591.5M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益MRCYZLAB
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.5B | $715.5M | ||
| Q3 25 | $1.5B | $759.9M | ||
| Q2 25 | $1.5B | $791.7M | ||
| Q1 25 | $1.5B | $810.8M | ||
| Q4 24 | $1.5B | $840.9M | ||
| Q3 24 | $1.5B | $667.7M | ||
| Q2 24 | $1.5B | $704.2M |
总资产MRCYZLAB
| Q1 26 | $2.5B | — | ||
| Q4 25 | $2.5B | $1.2B | ||
| Q3 25 | $2.5B | $1.2B | ||
| Q2 25 | $2.4B | $1.2B | ||
| Q1 25 | $2.4B | $1.2B | ||
| Q4 24 | $2.4B | $1.2B | ||
| Q3 24 | $2.4B | $985.3M | ||
| Q2 24 | $2.4B | $987.4M |
负债/权益比MRCYZLAB
| Q1 26 | 0.40× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $6.4M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-1.8M | $-26.7M |
| 自由现金流率自由现金流/营收 | -0.8% | -21.0% |
| 资本支出强度资本支出/营收 | — | 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 | $73.5M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流MRCYZLAB
| Q1 26 | $6.4M | — | ||
| Q4 25 | $51.6M | $-26.0M | ||
| Q3 25 | $2.2M | $-32.0M | ||
| Q2 25 | $38.1M | $-31.0M | ||
| Q1 25 | $30.0M | $-61.7M | ||
| Q4 24 | $85.5M | $-55.8M | ||
| Q3 24 | $-14.7M | $-26.8M | ||
| Q2 24 | $71.8M | $-42.2M |
自由现金流MRCYZLAB
| Q1 26 | $-1.8M | — | ||
| Q4 25 | $45.7M | $-26.7M | ||
| Q3 25 | $-4.4M | $-35.0M | ||
| Q2 25 | $34.0M | $-33.9M | ||
| Q1 25 | $24.1M | $-63.2M | ||
| Q4 24 | $81.9M | $-58.4M | ||
| Q3 24 | $-20.9M | $-28.2M | ||
| Q2 24 | $61.4M | $-42.9M |
自由现金流率MRCYZLAB
| Q1 26 | -0.8% | — | ||
| Q4 25 | 19.6% | -21.0% | ||
| Q3 25 | -1.9% | -30.4% | ||
| Q2 25 | 12.4% | -31.1% | ||
| Q1 25 | 11.4% | -59.9% | ||
| Q4 24 | 36.7% | -53.8% | ||
| Q3 24 | -10.2% | -27.7% | ||
| Q2 24 | 24.7% | -42.9% |
资本支出强度MRCYZLAB
| Q1 26 | — | — | ||
| Q4 25 | 2.5% | 0.5% | ||
| Q3 25 | 2.9% | 2.6% | ||
| Q2 25 | 1.5% | 2.6% | ||
| Q1 25 | 2.8% | 1.5% | ||
| Q4 24 | 1.6% | 2.4% | ||
| Q3 24 | 3.1% | 1.3% | ||
| Q2 24 | 4.2% | 0.7% |
现金转化率MRCYZLAB
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.33× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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
MRCY
暂无分部数据
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% |
