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McEwen Inc.（MUX）与STEM, INC.（STEM）财务数据对比。点击上方公司名可切换其他公司
McEwen Inc.的季度营收约是STEM, INC.的1.4倍（$64.6M vs $47.1M），McEwen Inc.净利率更高（59.0% vs -33.9%，领先92.9%），McEwen Inc.同比增速更快（92.8% vs -15.6%），过去两年STEM, INC.的营收复合增速更高（36.1% vs 25.2%）
McEwen Inc（股票代码MUX）是一家自然资源企业，主要从事金、银、铜矿产的勘探、开发与生产业务，运营项目分布于南北美洲，秉持可持续负责任的采矿准则，产品面向全球大宗商品市场供应。
该公司是一家公开上市的生物制药企业，总部位于加利福尼亚州纽瓦克，专注研发纯化人类神经干细胞，旨在治疗中枢神经系统疾病与瘫痪，其所研发的神经干细胞可分化为中枢神经系统的神经元、星形胶质细胞与少突胶质细胞这三大主要细胞类型。
MUX vs STEM — 直观对比
营收规模更大
MUX
是对方的1.4倍
$47.1M
营收增速更快
MUX
高出108.3%
-15.6%
净利率更高
MUX
高出92.9%
-33.9%
两年增速更快
STEM
近两年复合增速
25.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $64.6M | $47.1M |
| 净利润 | $38.1M | $-16.0M |
| 毛利率 | 26.9% | 48.9% |
| 营业利润率 | 34.2% | -17.7% |
| 净利率 | 59.0% | -33.9% |
| 营收同比 | 92.8% | -15.6% |
| 净利润同比 | 563.1% | 68.8% |
| 每股收益（稀释后） | $0.66 | $-4.40 |
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MUXSTEM
| Q4 25 | $64.6M | $47.1M | ||
| Q3 25 | $50.5M | $38.2M | ||
| Q2 25 | $46.7M | $38.4M | ||
| Q1 25 | $35.7M | $32.5M | ||
| Q4 24 | $33.5M | $55.8M | ||
| Q3 24 | $52.3M | $29.3M | ||
| Q2 24 | $47.5M | $34.0M | ||
| Q1 24 | $41.2M | $25.5M |
净利润MUXSTEM
| Q4 25 | $38.1M | $-16.0M | ||
| Q3 25 | $-462.0K | $-23.8M | ||
| Q2 25 | $3.0M | $202.5M | ||
| Q1 25 | $-6.3M | $-25.0M | ||
| Q4 24 | $-8.2M | $-51.1M | ||
| Q3 24 | $-2.1M | $-148.3M | ||
| Q2 24 | $-13.0M | $-582.3M | ||
| Q1 24 | $-20.4M | $-72.3M |
毛利率MUXSTEM
| Q4 25 | 26.9% | 48.9% | ||
| Q3 25 | 15.5% | 35.5% | ||
| Q2 25 | 26.3% | 33.4% | ||
| Q1 25 | 28.2% | 32.4% | ||
| Q4 24 | 1.1% | -4.4% | ||
| Q3 24 | 26.4% | 21.2% | ||
| Q2 24 | 22.7% | 27.6% | ||
| Q1 24 | 14.6% | -95.0% |
营业利润率MUXSTEM
| Q4 25 | 34.2% | -17.7% | ||
| Q3 25 | -16.7% | -33.6% | ||
| Q2 25 | -7.2% | -34.8% | ||
| Q1 25 | -21.4% | -65.0% | ||
| Q4 24 | -43.4% | -84.4% | ||
| Q3 24 | -0.2% | -493.2% | ||
| Q2 24 | -29.4% | -1705.5% | ||
| Q1 24 | -53.3% | -267.0% |
净利率MUXSTEM
| Q4 25 | 59.0% | -33.9% | ||
| Q3 25 | -0.9% | -62.2% | ||
| Q2 25 | 6.5% | 527.8% | ||
| Q1 25 | -17.6% | -76.9% | ||
| Q4 24 | -24.6% | -91.6% | ||
| Q3 24 | -4.0% | -506.3% | ||
| Q2 24 | -27.4% | -1712.6% | ||
| Q1 24 | -49.4% | -283.9% |
每股收益（稀释后）MUXSTEM
| Q4 25 | $0.66 | $-4.40 | ||
| Q3 25 | $-0.01 | $-2.84 | ||
| Q2 25 | $0.06 | $-1.79 | ||
| Q1 25 | $-0.12 | $-0.15 | ||
| Q4 24 | $-0.15 | $-15.29 | ||
| Q3 24 | $-0.04 | $-18.24 | ||
| Q2 24 | $-0.26 | $-71.81 | ||
| Q1 24 | $-0.41 | $-0.46 |
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 | $72.1M | $48.9M |
| 总债务越低越好 | $126.2M | — |
| 股东权益账面价值 | $546.2M | $-249.4M |
| 总资产 | $820.2M | $308.9M |
| 负债/权益比越低杠杆越低 | 0.23× | — |
8季度趋势，按日历期对齐
现金及短期投资MUXSTEM
| Q4 25 | $72.1M | $48.9M | ||
| Q3 25 | $75.4M | $43.1M | ||
| Q2 25 | $69.5M | $40.8M | ||
| Q1 25 | $79.3M | $58.6M | ||
| Q4 24 | $15.3M | $56.3M | ||
| Q3 24 | $30.2M | $75.4M | ||
| Q2 24 | $42.6M | $89.6M | ||
| Q1 24 | $22.0M | $112.8M |
总债务MUXSTEM
| Q4 25 | $126.2M | — | ||
| Q3 25 | $126.0M | — | ||
| Q2 25 | $125.8M | — | ||
| Q1 25 | $125.5M | — | ||
| Q4 24 | $40.0M | — | ||
| Q3 24 | $31.0M | — | ||
| Q2 24 | $34.0M | — | ||
| Q1 24 | $37.0M | — |
股东权益MUXSTEM
| Q4 25 | $546.2M | $-249.4M | ||
| Q3 25 | $488.6M | $-235.7M | ||
| Q2 25 | $484.5M | $-214.1M | ||
| Q1 25 | $479.8M | $-417.5M | ||
| Q4 24 | $495.0M | $-398.4M | ||
| Q3 24 | $502.1M | $-344.1M | ||
| Q2 24 | $485.2M | $-203.2M | ||
| Q1 24 | $482.5M | $371.6M |
总资产MUXSTEM
| Q4 25 | $820.2M | $308.9M | ||
| Q3 25 | $747.6M | $362.6M | ||
| Q2 25 | $735.6M | $379.2M | ||
| Q1 25 | $730.6M | $405.1M | ||
| Q4 24 | $664.6M | $437.4M | ||
| Q3 24 | $667.8M | $537.8M | ||
| Q2 24 | $645.1M | $691.5M | ||
| Q1 24 | $638.7M | $1.3B |
负债/权益比MUXSTEM
| Q4 25 | 0.23× | — | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | 0.08× | — | ||
| Q3 24 | 0.06× | — | ||
| Q2 24 | 0.07× | — | ||
| Q1 24 | 0.08× | — |
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 | $3.1M | $8.2M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 0.08× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流MUXSTEM
| Q4 25 | $3.1M | $8.2M | ||
| Q3 25 | $5.2M | $11.4M | ||
| Q2 25 | $478.0K | $-21.3M | ||
| Q1 25 | $-1.9M | $8.5M | ||
| Q4 24 | $-1.2M | $-14.7M | ||
| Q3 24 | $23.2M | $-9.4M | ||
| Q2 24 | $3.6M | $-11.9M | ||
| Q1 24 | $3.9M | $-621.0K |
现金转化率MUXSTEM
| Q4 25 | 0.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.16× | -0.11× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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
