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McEwen Inc.（MUX）与Vericel Corp（VCEL）财务数据对比。点击上方公司名可切换其他公司
Vericel Corp的季度营收约是McEwen Inc.的1.4倍（$92.9M vs $64.6M），McEwen Inc.净利率更高（59.0% vs 25.0%，领先34.0%），McEwen Inc.同比增速更快（92.8% vs 23.3%），过去两年Vericel Corp的营收复合增速更高（34.6% 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。
Vericel Corp是一家美国上市生物制药企业，前身为1989年在密歇根州安娜堡成立的Aastrom Bio，2014年10月正式更为现名，专注于生物制药相关领域的研发与商业化运营。
MUX vs VCEL — 直观对比
营收规模更大
VCEL
是对方的1.4倍
$64.6M
营收增速更快
MUX
高出69.5%
23.3%
净利率更高
MUX
高出34.0%
25.0%
两年增速更快
VCEL
近两年复合增速
25.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $64.6M | $92.9M |
| 净利润 | $38.1M | $23.2M |
| 毛利率 | 26.9% | 78.7% |
| 营业利润率 | 34.2% | 24.1% |
| 净利率 | 59.0% | 25.0% |
| 营收同比 | 92.8% | 23.3% |
| 净利润同比 | 563.1% | 17.3% |
| 每股收益（稀释后） | $0.66 | $0.46 |
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MUXVCEL
| Q4 25 | $64.6M | $92.9M | ||
| Q3 25 | $50.5M | $67.5M | ||
| Q2 25 | $46.7M | $63.2M | ||
| Q1 25 | $35.7M | $52.6M | ||
| Q4 24 | $33.5M | $75.4M | ||
| Q3 24 | $52.3M | $57.9M | ||
| Q2 24 | $47.5M | $52.7M | ||
| Q1 24 | $41.2M | $51.3M |
净利润MUXVCEL
| Q4 25 | $38.1M | $23.2M | ||
| Q3 25 | $-462.0K | $5.1M | ||
| Q2 25 | $3.0M | $-553.0K | ||
| Q1 25 | $-6.3M | $-11.2M | ||
| Q4 24 | $-8.2M | $19.8M | ||
| Q3 24 | $-2.1M | $-901.0K | ||
| Q2 24 | $-13.0M | $-4.7M | ||
| Q1 24 | $-20.4M | $-3.9M |
毛利率MUXVCEL
| Q4 25 | 26.9% | 78.7% | ||
| Q3 25 | 15.5% | 73.5% | ||
| Q2 25 | 26.3% | 73.7% | ||
| Q1 25 | 28.2% | 69.0% | ||
| Q4 24 | 1.1% | 77.6% | ||
| Q3 24 | 26.4% | 71.9% | ||
| Q2 24 | 22.7% | 69.5% | ||
| Q1 24 | 14.6% | 68.9% |
营业利润率MUXVCEL
| Q4 25 | 34.2% | 24.1% | ||
| Q3 25 | -16.7% | 5.1% | ||
| Q2 25 | -7.2% | -3.2% | ||
| Q1 25 | -21.4% | -24.3% | ||
| Q4 24 | -43.4% | 24.5% | ||
| Q3 24 | -0.2% | -4.3% | ||
| Q2 24 | -29.4% | -11.5% | ||
| Q1 24 | -53.3% | -10.7% |
净利率MUXVCEL
| Q4 25 | 59.0% | 25.0% | ||
| Q3 25 | -0.9% | 7.5% | ||
| Q2 25 | 6.5% | -0.9% | ||
| Q1 25 | -17.6% | -21.4% | ||
| Q4 24 | -24.6% | 26.3% | ||
| Q3 24 | -4.0% | -1.6% | ||
| Q2 24 | -27.4% | -8.9% | ||
| Q1 24 | -49.4% | -7.5% |
每股收益（稀释后）MUXVCEL
| Q4 25 | $0.66 | $0.46 | ||
| Q3 25 | $-0.01 | $0.10 | ||
| Q2 25 | $0.06 | $-0.01 | ||
| Q1 25 | $-0.12 | $-0.23 | ||
| Q4 24 | $-0.15 | $0.40 | ||
| Q3 24 | $-0.04 | $-0.02 | ||
| Q2 24 | $-0.26 | $-0.10 | ||
| Q1 24 | $-0.41 | $-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 | $72.1M | $137.5M |
| 总债务越低越好 | $126.2M | — |
| 股东权益账面价值 | $546.2M | $354.6M |
| 总资产 | $820.2M | $488.0M |
| 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MUXVCEL
| Q4 25 | $72.1M | $137.5M | ||
| Q3 25 | $75.4M | $135.4M | ||
| Q2 25 | $69.5M | $116.9M | ||
| Q1 25 | $79.3M | $112.9M | ||
| Q4 24 | $15.3M | $116.2M | ||
| Q3 24 | $30.2M | $101.7M | ||
| Q2 24 | $42.6M | $102.5M | ||
| Q1 24 | $22.0M | $110.6M |
总债务MUXVCEL
| 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MUXVCEL
| Q4 25 | $546.2M | $354.6M | ||
| Q3 25 | $488.6M | $321.9M | ||
| Q2 25 | $484.5M | $306.8M | ||
| Q1 25 | $479.8M | $295.5M | ||
| Q4 24 | $495.0M | $292.0M | ||
| Q3 24 | $502.1M | $257.5M | ||
| Q2 24 | $485.2M | $243.0M | ||
| Q1 24 | $482.5M | $233.9M |
总资产MUXVCEL
| Q4 25 | $820.2M | $488.0M | ||
| Q3 25 | $747.6M | $453.3M | ||
| Q2 25 | $735.6M | $435.6M | ||
| Q1 25 | $730.6M | $424.6M | ||
| Q4 24 | $664.6M | $432.7M | ||
| Q3 24 | $667.8M | $390.4M | ||
| Q2 24 | $645.1M | $376.8M | ||
| Q1 24 | $638.7M | $356.7M |
负债/权益比MUXVCEL
| 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 | $15.0M |
| 自由现金流经营现金流 - 资本支出 | — | $12.8M |
| 自由现金流率自由现金流/营收 | — | 13.8% |
| 资本支出强度资本支出/营收 | — | 2.4% |
| 现金转化率经营现金流/净利润 | 0.08× | 0.65× |
| 过去12个月自由现金流最近4个季度 | — | $24.7M |
8季度趋势，按日历期对齐
经营现金流MUXVCEL
| Q4 25 | $3.1M | $15.0M | ||
| Q3 25 | $5.2M | $22.1M | ||
| Q2 25 | $478.0K | $8.2M | ||
| Q1 25 | $-1.9M | $6.6M | ||
| Q4 24 | $-1.2M | $22.2M | ||
| Q3 24 | $23.2M | $10.2M | ||
| Q2 24 | $3.6M | $18.5M | ||
| Q1 24 | $3.9M | $7.2M |
自由现金流MUXVCEL
| Q4 25 | — | $12.8M | ||
| Q3 25 | — | $19.5M | ||
| Q2 25 | — | $81.0K | ||
| Q1 25 | — | $-7.6M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | — | $-9.2M | ||
| Q2 24 | — | $1.8M | ||
| Q1 24 | — | $-6.8M |
自由现金流率MUXVCEL
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | -14.5% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | -15.9% | ||
| Q2 24 | — | 3.4% | ||
| Q1 24 | — | -13.3% |
资本支出强度MUXVCEL
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 27.0% | ||
| Q4 24 | — | 18.3% | ||
| Q3 24 | — | 33.5% | ||
| Q2 24 | — | 31.8% | ||
| Q1 24 | — | 27.3% |
现金转化率MUXVCEL
| Q4 25 | 0.08× | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | 0.16× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| 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
业务分部营收拆解
MUX
暂无分部数据
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
