vs
National Bank Holdings Corp（NBHC）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National Bank Holdings Corp的1.0倍（$127.1M vs $126.8M），过去两年再鼎医药的营收复合增速更高（20.8% vs 14.0%）
这是一家美国区域性银行控股集团，目前在伊利诺伊、印第安纳等八个美国州布局营业网点，拥有近250个金融服务中心与约200家零售分行，总资产达485亿美元。它是总部位于印第安纳州的最大银行控股公司，也跻身美国银行业三十强之列。
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。
NBHC vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.0倍
$126.8M
两年增速更快
ZLAB
近两年复合增速
14.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $126.8M | $127.1M |
| 净利润 | $20.8M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | — | -54.6% |
| 净利率 | 16.4% | — |
| 营收同比 | — | 17.1% |
| 净利润同比 | -14.2% | — |
| 每股收益（稀释后） | $0.46 | $-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NBHCZLAB
| Q1 26 | $126.8M | — | ||
| Q4 25 | $100.6M | $127.1M | ||
| Q3 25 | $108.9M | $115.4M | ||
| Q2 25 | $104.5M | $109.1M | ||
| Q1 25 | $102.1M | $105.7M | ||
| Q4 24 | $101.3M | $108.5M | ||
| Q3 24 | $106.0M | $101.8M | ||
| Q2 24 | $97.6M | $100.1M |
净利润NBHCZLAB
| Q1 26 | $20.8M | — | ||
| Q4 25 | $16.0M | — | ||
| Q3 25 | $35.3M | $-36.0M | ||
| Q2 25 | $34.0M | $-40.7M | ||
| Q1 25 | $24.2M | $-48.4M | ||
| Q4 24 | $28.2M | — | ||
| Q3 24 | $33.1M | $-41.7M | ||
| Q2 24 | $26.1M | $-80.3M |
毛利率NBHCZLAB
| Q1 26 | — | — | ||
| Q4 25 | — | 51.0% | ||
| Q3 25 | — | 59.5% | ||
| Q2 25 | — | 60.6% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 64.1% | ||
| Q2 24 | — | 64.9% |
营业利润率NBHCZLAB
| Q1 26 | — | — | ||
| Q4 25 | 19.0% | -54.6% | ||
| Q3 25 | 39.6% | -42.3% | ||
| Q2 25 | 39.8% | -50.3% | ||
| Q1 25 | 29.2% | -53.3% | ||
| Q4 24 | 34.3% | -62.6% | ||
| Q3 24 | 37.6% | -66.6% | ||
| Q2 24 | 32.5% | -76.0% |
净利率NBHCZLAB
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.9% | — | ||
| Q3 25 | 32.4% | -31.2% | ||
| Q2 25 | 32.6% | -37.3% | ||
| Q1 25 | 23.7% | -45.8% | ||
| Q4 24 | 27.8% | — | ||
| Q3 24 | 31.2% | -40.9% | ||
| Q2 24 | 26.8% | -80.2% |
每股收益（稀释后）NBHCZLAB
| Q1 26 | $0.46 | — | ||
| Q4 25 | $0.42 | $-0.05 | ||
| Q3 25 | $0.92 | $-0.03 | ||
| Q2 25 | $0.88 | $-0.04 | ||
| Q1 25 | $0.63 | $-0.04 | ||
| Q4 24 | $0.72 | $-0.09 | ||
| Q3 24 | $0.86 | $-0.04 | ||
| Q2 24 | $0.68 | $-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 | $472.8M | $689.6M |
| 总债务越低越好 | $202.1M | — |
| 股东权益账面价值 | $1.7B | $715.5M |
| 总资产 | $12.6B | $1.2B |
| 负债/权益比越低杠杆越低 | 0.12× | — |
8季度趋势，按日历期对齐
现金及短期投资NBHCZLAB
| Q1 26 | $472.8M | — | ||
| Q4 25 | $417.1M | $689.6M | ||
| Q3 25 | $555.6M | $717.2M | ||
| Q2 25 | $296.5M | $732.2M | ||
| Q1 25 | $246.3M | $757.3M | ||
| Q4 24 | $127.8M | $779.7M | ||
| Q3 24 | $180.8M | $616.1M | ||
| Q2 24 | $145.0M | $630.0M |
总债务NBHCZLAB
| Q1 26 | $202.1M | — | ||
| Q4 25 | $54.5M | — | ||
| Q3 25 | $54.7M | — | ||
| Q2 25 | $54.4M | — | ||
| Q1 25 | $54.6M | — | ||
| Q4 24 | $54.5M | — | ||
| Q3 24 | $54.4M | — | ||
| Q2 24 | $54.4M | — |
股东权益NBHCZLAB
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.4B | $715.5M | ||
| Q3 25 | $1.4B | $759.9M | ||
| Q2 25 | $1.4B | $791.7M | ||
| Q1 25 | $1.3B | $810.8M | ||
| Q4 24 | $1.3B | $840.9M | ||
| Q3 24 | $1.3B | $667.7M | ||
| Q2 24 | $1.2B | $704.2M |
总资产NBHCZLAB
| Q1 26 | $12.6B | — | ||
| Q4 25 | $9.9B | $1.2B | ||
| Q3 25 | $10.2B | $1.2B | ||
| Q2 25 | $10.0B | $1.2B | ||
| Q1 25 | $10.1B | $1.2B | ||
| Q4 24 | $9.8B | $1.2B | ||
| Q3 24 | $10.0B | $985.3M | ||
| Q2 24 | $10.0B | $987.4M |
负债/权益比NBHCZLAB
| Q1 26 | 0.12× | — | ||
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.04× | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.04× | — |
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 | — | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-26.7M |
| 自由现金流率自由现金流/营收 | — | -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 | — | $-158.9M |
8季度趋势，按日历期对齐
经营现金流NBHCZLAB
| Q1 26 | — | — | ||
| Q4 25 | $162.4M | $-26.0M | ||
| Q3 25 | $52.4M | $-32.0M | ||
| Q2 25 | $32.3M | $-31.0M | ||
| Q1 25 | $39.6M | $-61.7M | ||
| Q4 24 | $155.3M | $-55.8M | ||
| Q3 24 | $47.0M | $-26.8M | ||
| Q2 24 | $31.9M | $-42.2M |
自由现金流NBHCZLAB
| Q1 26 | — | — | ||
| Q4 25 | — | $-26.7M | ||
| Q3 25 | — | $-35.0M | ||
| Q2 25 | — | $-33.9M | ||
| Q1 25 | — | $-63.2M | ||
| Q4 24 | — | $-58.4M | ||
| Q3 24 | — | $-28.2M | ||
| Q2 24 | — | $-42.9M |
自由现金流率NBHCZLAB
| Q1 26 | — | — | ||
| Q4 25 | — | -21.0% | ||
| Q3 25 | — | -30.4% | ||
| Q2 25 | — | -31.1% | ||
| Q1 25 | — | -59.9% | ||
| Q4 24 | — | -53.8% | ||
| Q3 24 | — | -27.7% | ||
| Q2 24 | — | -42.9% |
资本支出强度NBHCZLAB
| Q1 26 | — | — | ||
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 0.7% |
现金转化率NBHCZLAB
| Q1 26 | — | — | ||
| Q4 25 | 10.13× | — | ||
| Q3 25 | 1.48× | — | ||
| Q2 25 | 0.95× | — | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 5.51× | — | ||
| Q3 24 | 1.42× | — | ||
| Q2 24 | 1.22× | — |
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
NBHC
| Net Interest Income | $108.8M | 86% |
| Noninterest Income | $18.0M | 14% |
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% |
