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莫德纳（MRNA）与RXO, Inc.（RXO）财务数据对比。点击上方公司名可切换其他公司
RXO, Inc.的季度营收约是莫德纳的1.4倍（$1.5B vs $1.0B），RXO, Inc.净利率更高（-3.1% vs -19.7%，领先16.6%），RXO, Inc.同比增速更快（-11.9% vs -45.4%），RXO, Inc.自由现金流更多（$-9.0M vs $-880.0M），过去两年RXO, Inc.的营收复合增速更高（26.8% vs -45.0%）
莫德纳是一家总部位于美国马萨诸塞州剑桥市的生物制药企业，深耕RNA治疗领域，核心业务聚焦mRNA疫苗研发。其疫苗通过信使RNA（mRNA）分子拷贝传递蛋白合成指令以触发人体免疫反应，公司名称由“修饰”“RNA”与“现代”三个词组合而来。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
MRNA vs RXO — 直观对比
营收规模更大
RXO
是对方的1.4倍
$1.0B
营收增速更快
RXO
高出33.6%
-45.4%
净利率更高
RXO
高出16.6%
-19.7%
自由现金流更多
RXO
多$871.0M
$-880.0M
两年增速更快
RXO
近两年复合增速
-45.0%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.5B |
| 净利润 | $-200.0M | $-46.0M |
| 毛利率 | 79.6% | — |
| 营业利润率 | -25.6% | -2.9% |
| 净利率 | -19.7% | -3.1% |
| 营收同比 | -45.4% | -11.9% |
| 净利润同比 | -1638.5% | -84.0% |
| 每股收益（稀释后） | $-0.51 | $-0.28 |
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MRNARXO
| Q4 25 | — | $1.5B | ||
| Q3 25 | $1.0B | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | $966.0M | $1.7B | ||
| Q3 24 | $1.9B | $1.0B | ||
| Q2 24 | — | $930.0M | ||
| Q1 24 | — | $913.0M |
净利润MRNARXO
| Q4 25 | — | $-46.0M | ||
| Q3 25 | $-200.0M | $-14.0M | ||
| Q2 25 | — | $-9.0M | ||
| Q1 25 | — | $-31.0M | ||
| Q4 24 | $-1.1B | $-25.0M | ||
| Q3 24 | $13.0M | $-243.0M | ||
| Q2 24 | — | $-7.0M | ||
| Q1 24 | — | $-15.0M |
毛利率MRNARXO
| Q4 25 | — | — | ||
| Q3 25 | 79.6% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 23.5% | — | ||
| Q3 24 | 72.4% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率MRNARXO
| Q4 25 | — | -2.9% | ||
| Q3 25 | -25.6% | -0.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -2.1% | ||
| Q4 24 | -129.0% | -1.4% | ||
| Q3 24 | -3.8% | -1.9% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -1.3% |
净利率MRNARXO
| Q4 25 | — | -3.1% | ||
| Q3 25 | -19.7% | -1.0% | ||
| Q2 25 | — | -0.6% | ||
| Q1 25 | — | -2.2% | ||
| Q4 24 | -115.9% | -1.5% | ||
| Q3 24 | 0.7% | -23.4% | ||
| Q2 24 | — | -0.8% | ||
| Q1 24 | — | -1.6% |
每股收益（稀释后）MRNARXO
| Q4 25 | — | $-0.28 | ||
| Q3 25 | $-0.51 | $-0.08 | ||
| Q2 25 | — | $-0.05 | ||
| Q1 25 | — | $-0.18 | ||
| Q4 24 | $-2.91 | $-0.17 | ||
| Q3 24 | $0.03 | $-1.81 | ||
| Q2 24 | — | $-0.06 | ||
| Q1 24 | — | $-0.13 |
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 | $1.1B | $17.0M |
| 总债务越低越好 | — | $387.0M |
| 股东权益账面价值 | $9.3B | $1.5B |
| 总资产 | $12.1B | $3.3B |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资MRNARXO
| Q4 25 | — | $17.0M | ||
| Q3 25 | $1.1B | $25.0M | ||
| Q2 25 | — | $18.0M | ||
| Q1 25 | — | $16.0M | ||
| Q4 24 | $1.9B | $35.0M | ||
| Q3 24 | $1.6B | $55.0M | ||
| Q2 24 | — | $7.0M | ||
| Q1 24 | — | $7.0M |
总债务MRNARXO
| Q4 25 | — | $387.0M | ||
| Q3 25 | — | $387.0M | ||
| Q2 25 | — | $387.0M | ||
| Q1 25 | — | $387.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | — | $352.0M | ||
| Q2 24 | — | $370.0M | ||
| Q1 24 | — | $351.0M |
股东权益MRNARXO
| Q4 25 | — | $1.5B | ||
| Q3 25 | $9.3B | $1.6B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | $10.9B | $1.6B | ||
| Q3 24 | $11.9B | $1.7B | ||
| Q2 24 | — | $579.0M | ||
| Q1 24 | — | $582.0M |
总资产MRNARXO
| Q4 25 | — | $3.3B | ||
| Q3 25 | $12.1B | $3.2B | ||
| Q2 25 | — | $3.2B | ||
| Q1 25 | — | $3.3B | ||
| Q4 24 | $14.1B | $3.4B | ||
| Q3 24 | $15.8B | $3.4B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $1.8B |
负债/权益比MRNARXO
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.60× |
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 | $-847.0M | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $-880.0M | $-9.0M |
| 自由现金流率自由现金流/营收 | -86.6% | -0.6% |
| 资本支出强度资本支出/营收 | 3.2% | 1.1% |
| 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 | $-1.9B | $-8.0M |
8季度趋势，按日历期对齐
经营现金流MRNARXO
| Q4 25 | — | $7.0M | ||
| Q3 25 | $-847.0M | $23.0M | ||
| Q2 25 | — | $23.0M | ||
| Q1 25 | — | $-2.0M | ||
| Q4 24 | $825.0M | $-7.0M | ||
| Q3 24 | $-1.6B | $-7.0M | ||
| Q2 24 | — | $-5.0M | ||
| Q1 24 | — | $7.0M |
自由现金流MRNARXO
| Q4 25 | — | $-9.0M | ||
| Q3 25 | $-880.0M | $9.0M | ||
| Q2 25 | — | $9.0M | ||
| Q1 25 | — | $-17.0M | ||
| Q4 24 | $303.0M | $-19.0M | ||
| Q3 24 | $-1.7B | $-18.0M | ||
| Q2 24 | — | $-16.0M | ||
| Q1 24 | — | $-4.0M |
自由现金流率MRNARXO
| Q4 25 | — | -0.6% | ||
| Q3 25 | -86.6% | 0.6% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | -1.2% | ||
| Q4 24 | 31.4% | -1.1% | ||
| Q3 24 | -92.2% | -1.7% | ||
| Q2 24 | — | -1.7% | ||
| Q1 24 | — | -0.4% |
资本支出强度MRNARXO
| Q4 25 | — | 1.1% | ||
| Q3 25 | 3.2% | 1.0% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | 54.0% | 0.7% | ||
| Q3 24 | 8.1% | 1.1% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 1.2% |
现金转化率MRNARXO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -120.46× | — | ||
| Q2 24 | — | — | ||
| Q1 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
MRNA
| COVID19 | $971.0M | 96% |
| Other Revenue | $20.0M | 2% |
| Grant | $14.0M | 1% |
| Collaboration Arrangement Including Arrangements With Affiliate | $7.0M | 1% |
| License And Royalty | $2.0M | 0% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
