vs
自然阳光（NATR）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自然阳光的1.0倍（$127.1M vs $123.8M），再鼎医药同比增速更快（17.1% vs 4.7%），自然阳光自由现金流更多（$7.6M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 5.6%）
自然阳光产品公司（简称NSP）主营膳食补充剂与个人护理产品的生产制造，产品涵盖草本补充剂、维生素、矿物质制剂等品类。公司总部设于犹他州利希，生产工厂位于犹他州西班牙福克，是该领域知名的健康产品生产商。
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。
NATR vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.0倍
$123.8M
营收增速更快
ZLAB
高出12.4%
4.7%
自由现金流更多
NATR
多$34.3M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
5.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $123.8M | $127.1M |
| 净利润 | $4.1M | — |
| 毛利率 | 72.5% | 51.0% |
| 营业利润率 | 4.3% | -54.6% |
| 净利率 | 3.3% | — |
| 营收同比 | 4.7% | 17.1% |
| 净利润同比 | 1379.4% | — |
| 每股收益（稀释后） | $0.23 | $-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NATRZLAB
| Q4 25 | $123.8M | $127.1M | ||
| Q3 25 | $128.3M | $115.4M | ||
| Q2 25 | $114.8M | $109.1M | ||
| Q1 25 | $113.2M | $105.7M | ||
| Q4 24 | $118.2M | $108.5M | ||
| Q3 24 | $114.6M | $101.8M | ||
| Q2 24 | $110.6M | $100.1M | ||
| Q1 24 | $111.0M | $87.1M |
净利润NATRZLAB
| Q4 25 | $4.1M | — | ||
| Q3 25 | $5.3M | $-36.0M | ||
| Q2 25 | $5.3M | $-40.7M | ||
| Q1 25 | $4.7M | $-48.4M | ||
| Q4 24 | $-321.0K | — | ||
| Q3 24 | $4.3M | $-41.7M | ||
| Q2 24 | $1.3M | $-80.3M | ||
| Q1 24 | $2.3M | $-53.5M |
毛利率NATRZLAB
| Q4 25 | 72.5% | 51.0% | ||
| Q3 25 | 73.3% | 59.5% | ||
| Q2 25 | 71.7% | 60.6% | ||
| Q1 25 | 72.1% | 63.6% | ||
| Q4 24 | 72.0% | 61.5% | ||
| Q3 24 | 71.3% | 64.1% | ||
| Q2 24 | 71.4% | 64.9% | ||
| Q1 24 | 71.2% | 61.4% |
营业利润率NATRZLAB
| Q4 25 | 4.3% | -54.6% | ||
| Q3 25 | 7.0% | -42.3% | ||
| Q2 25 | 3.7% | -50.3% | ||
| Q1 25 | 5.4% | -53.3% | ||
| Q4 24 | 3.8% | -62.6% | ||
| Q3 24 | 4.6% | -66.6% | ||
| Q2 24 | 5.1% | -76.0% | ||
| Q1 24 | 4.2% | -80.7% |
净利率NATRZLAB
| Q4 25 | 3.3% | — | ||
| Q3 25 | 4.2% | -31.2% | ||
| Q2 25 | 4.6% | -37.3% | ||
| Q1 25 | 4.2% | -45.8% | ||
| Q4 24 | -0.3% | — | ||
| Q3 24 | 3.8% | -40.9% | ||
| Q2 24 | 1.2% | -80.2% | ||
| Q1 24 | 2.1% | -61.4% |
每股收益（稀释后）NATRZLAB
| Q4 25 | $0.23 | $-0.05 | ||
| Q3 25 | $0.30 | $-0.03 | ||
| Q2 25 | $0.28 | $-0.04 | ||
| Q1 25 | $0.25 | $-0.04 | ||
| Q4 24 | $-0.02 | $-0.09 | ||
| Q3 24 | $0.23 | $-0.04 | ||
| Q2 24 | $0.07 | $-0.08 | ||
| Q1 24 | $0.12 | $-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 | $93.9M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $161.6M | $715.5M |
| 总资产 | $261.1M | $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NATRZLAB
| Q4 25 | $93.9M | $689.6M | ||
| Q3 25 | $95.6M | $717.2M | ||
| Q2 25 | $81.3M | $732.2M | ||
| Q1 25 | $86.5M | $757.3M | ||
| Q4 24 | $84.7M | $779.7M | ||
| Q3 24 | $78.7M | $616.1M | ||
| Q2 24 | $68.7M | $630.0M | ||
| Q1 24 | $77.8M | $650.8M |
总债务NATRZLAB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $2.1M | — |
股东权益NATRZLAB
| Q4 25 | $161.6M | $715.5M | ||
| Q3 25 | $166.7M | $759.9M | ||
| Q2 25 | $163.7M | $791.7M | ||
| Q1 25 | $167.1M | $810.8M | ||
| Q4 24 | $161.0M | $840.9M | ||
| Q3 24 | $162.6M | $667.7M | ||
| Q2 24 | $156.4M | $704.2M | ||
| Q1 24 | $159.7M | $762.2M |
总资产NATRZLAB
| Q4 25 | $261.1M | $1.2B | ||
| Q3 25 | $264.8M | $1.2B | ||
| Q2 25 | $254.9M | $1.2B | ||
| Q1 25 | $252.7M | $1.2B | ||
| Q4 24 | $240.9M | $1.2B | ||
| Q3 24 | $245.3M | $985.3M | ||
| Q2 24 | $235.8M | $987.4M | ||
| Q1 24 | $247.3M | $988.4M |
负债/权益比NATRZLAB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.01× | — |
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 | $9.9M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $7.6M | $-26.7M |
| 自由现金流率自由现金流/营收 | 6.1% | -21.0% |
| 资本支出强度资本支出/营收 | 1.9% | 0.5% |
| 现金转化率经营现金流/净利润 | 2.41× | — |
| 过去12个月自由现金流最近4个季度 | $28.8M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流NATRZLAB
| Q4 25 | $9.9M | $-26.0M | ||
| Q3 25 | $18.5M | $-32.0M | ||
| Q2 25 | $4.3M | $-31.0M | ||
| Q1 25 | $2.6M | $-61.7M | ||
| Q4 24 | $12.2M | $-55.8M | ||
| Q3 24 | $9.6M | $-26.8M | ||
| Q2 24 | $1.3M | $-42.2M | ||
| Q1 24 | $2.2M | $-90.1M |
自由现金流NATRZLAB
| Q4 25 | $7.6M | $-26.7M | ||
| Q3 25 | $16.8M | $-35.0M | ||
| Q2 25 | $3.0M | $-33.9M | ||
| Q1 25 | $1.5M | $-63.2M | ||
| Q4 24 | $10.0M | $-58.4M | ||
| Q3 24 | $7.9M | $-28.2M | ||
| Q2 24 | $-2.0M | $-42.9M | ||
| Q1 24 | $-1.5M | $-91.1M |
自由现金流率NATRZLAB
| Q4 25 | 6.1% | -21.0% | ||
| Q3 25 | 13.1% | -30.4% | ||
| Q2 25 | 2.6% | -31.1% | ||
| Q1 25 | 1.3% | -59.9% | ||
| Q4 24 | 8.5% | -53.8% | ||
| Q3 24 | 6.9% | -27.7% | ||
| Q2 24 | -1.9% | -42.9% | ||
| Q1 24 | -1.4% | -104.5% |
资本支出强度NATRZLAB
| Q4 25 | 1.9% | 0.5% | ||
| Q3 25 | 1.3% | 2.6% | ||
| Q2 25 | 1.2% | 2.6% | ||
| Q1 25 | 1.0% | 1.5% | ||
| Q4 24 | 1.9% | 2.4% | ||
| Q3 24 | 1.5% | 1.3% | ||
| Q2 24 | 3.0% | 0.7% | ||
| Q1 24 | 3.3% | 1.1% |
现金转化率NATRZLAB
| Q4 25 | 2.41× | — | ||
| Q3 25 | 3.46× | — | ||
| Q2 25 | 0.81× | — | ||
| Q1 25 | 0.55× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.21× | — | ||
| Q2 24 | 0.97× | — | ||
| Q1 24 | 0.94× | — |
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
NATR
| Other | $68.1M | 55% |
| General Health Products | $20.2M | 16% |
| Digestive Products | $13.8M | 11% |
| Cardiovascular Products | $12.1M | 10% |
| Personal Care Products | $4.4M | 4% |
| Immunity Products | $3.1M | 3% |
| Weight Management Products | $2.1M | 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% |
