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NCS Multistage Holdings, Inc.（NCSM）与REGENXBIO Inc.（RGNX）财务数据对比。点击上方公司名可切换其他公司
NCS Multistage Holdings, Inc.的季度营收约是REGENXBIO Inc.的1.7倍（$50.6M vs $30.3M），NCS Multistage Holdings, Inc.净利率更高（29.5% vs -221.3%，领先250.9%），REGENXBIO Inc.同比增速更快（43.0% vs 12.5%），NCS Multistage Holdings, Inc.自由现金流更多（$12.9M vs $-52.8M），过去两年REGENXBIO Inc.的营收复合增速更高（39.4% vs 7.4%）
NCS Multistage Holdings是一家全球能源技术与油田服务提供商，主营油气勘探生产用的完井系统与多级压裂工具，服务覆盖北美、拉美、中东及亚太市场，助力上游能源客户提升作业效率与资源采收率。
REGENXBIO Inc.是一家临床阶段生物技术企业，专注于开发针对罕见及严重遗传疾病的突破性基因疗法。公司拥有专有的腺相关病毒载体技术，既向全球生物制药合作伙伴提供技术授权，也自主推进多疾病领域的基因疗法管线研发。
NCSM vs RGNX — 直观对比
营收规模更大
NCSM
是对方的1.7倍
$30.3M
营收增速更快
RGNX
高出30.5%
12.5%
净利率更高
NCSM
高出250.9%
-221.3%
自由现金流更多
NCSM
多$65.7M
$-52.8M
两年增速更快
RGNX
近两年复合增速
7.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $50.6M | $30.3M |
| 净利润 | $15.0M | $-67.1M |
| 毛利率 | — | — |
| 营业利润率 | 10.3% | -190.0% |
| 净利率 | 29.5% | -221.3% |
| 营收同比 | 12.5% | 43.0% |
| 净利润同比 | 331.0% | -31.2% |
| 每股收益（稀释后） | $5.43 | $-1.30 |
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NCSMRGNX
| Q4 25 | $50.6M | $30.3M | ||
| Q3 25 | $46.5M | $29.7M | ||
| Q2 25 | $36.5M | $21.4M | ||
| Q1 25 | $50.0M | $89.0M | ||
| Q4 24 | $45.0M | $21.2M | ||
| Q3 24 | $44.0M | $24.2M | ||
| Q2 24 | $29.7M | $22.3M | ||
| Q1 24 | $43.9M | $15.6M |
净利润NCSMRGNX
| Q4 25 | $15.0M | $-67.1M | ||
| Q3 25 | $3.8M | $-61.9M | ||
| Q2 25 | $924.0K | $-70.9M | ||
| Q1 25 | $4.1M | $6.1M | ||
| Q4 24 | $3.5M | $-51.2M | ||
| Q3 24 | $4.1M | $-59.6M | ||
| Q2 24 | $-3.1M | $-53.0M | ||
| Q1 24 | $2.1M | $-63.3M |
毛利率NCSMRGNX
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 70.2% | ||
| Q3 24 | — | 48.8% | ||
| Q2 24 | — | 52.5% | ||
| Q1 24 | — | 72.6% |
营业利润率NCSMRGNX
| Q4 25 | 10.3% | -190.0% | ||
| Q3 25 | 6.6% | -176.3% | ||
| Q2 25 | -5.6% | -296.3% | ||
| Q1 25 | 8.6% | 13.6% | ||
| Q4 24 | 6.5% | -242.1% | ||
| Q3 24 | 6.9% | -256.6% | ||
| Q2 24 | -14.0% | -251.3% | ||
| Q1 24 | 5.7% | -408.8% |
净利率NCSMRGNX
| Q4 25 | 29.5% | -221.3% | ||
| Q3 25 | 8.2% | -208.3% | ||
| Q2 25 | 2.5% | -331.8% | ||
| Q1 25 | 8.1% | 6.8% | ||
| Q4 24 | 7.7% | -241.3% | ||
| Q3 24 | 9.4% | -246.3% | ||
| Q2 24 | -10.4% | -237.7% | ||
| Q1 24 | 4.7% | -405.4% |
每股收益（稀释后）NCSMRGNX
| Q4 25 | $5.43 | $-1.30 | ||
| Q3 25 | $1.37 | $-1.20 | ||
| Q2 25 | $0.34 | $-1.38 | ||
| Q1 25 | $1.51 | $0.12 | ||
| Q4 24 | $1.34 | $-0.99 | ||
| Q3 24 | $1.60 | $-1.17 | ||
| Q2 24 | $-1.21 | $-1.05 | ||
| Q1 24 | $0.82 | $-1.38 |
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 | $36.7M | $230.1M |
| 总债务越低越好 | $5.3M | — |
| 股东权益账面价值 | $126.2M | $102.7M |
| 总资产 | $181.2M | $453.0M |
| 负债/权益比越低杠杆越低 | 0.04× | — |
8季度趋势，按日历期对齐
现金及短期投资NCSMRGNX
| Q4 25 | $36.7M | $230.1M | ||
| Q3 25 | $25.3M | $274.2M | ||
| Q2 25 | $25.4M | $323.3M | ||
| Q1 25 | $23.0M | $267.9M | ||
| Q4 24 | $25.9M | $234.7M | ||
| Q3 24 | $15.3M | $255.5M | ||
| Q2 24 | $18.6M | $290.4M | ||
| Q1 24 | $14.0M | $338.7M |
总债务NCSMRGNX
| Q4 25 | $5.3M | — | ||
| Q3 25 | $5.1M | — | ||
| Q2 25 | $5.5M | — | ||
| Q1 25 | $5.4M | — | ||
| Q4 24 | $6.0M | — | ||
| Q3 24 | $6.5M | — | ||
| Q2 24 | $6.8M | — | ||
| Q1 24 | $6.4M | — |
股东权益NCSMRGNX
| Q4 25 | $126.2M | $102.7M | ||
| Q3 25 | $110.1M | $161.5M | ||
| Q2 25 | $106.4M | $213.7M | ||
| Q1 25 | $103.2M | $274.2M | ||
| Q4 24 | $98.8M | $259.7M | ||
| Q3 24 | $96.0M | $301.4M | ||
| Q2 24 | $91.0M | $348.3M | ||
| Q1 24 | $93.7M | $390.7M |
总资产NCSMRGNX
| Q4 25 | $181.2M | $453.0M | ||
| Q3 25 | $162.0M | $525.2M | ||
| Q2 25 | $158.0M | $581.0M | ||
| Q1 25 | $155.1M | $490.9M | ||
| Q4 24 | $152.8M | $466.0M | ||
| Q3 24 | $145.8M | $519.1M | ||
| Q2 24 | $139.4M | $569.4M | ||
| Q1 24 | $140.9M | $629.2M |
负债/权益比NCSMRGNX
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.05× | — | ||
| Q2 25 | 0.05× | — | ||
| Q1 25 | 0.05× | — | ||
| Q4 24 | 0.06× | — | ||
| Q3 24 | 0.07× | — | ||
| Q2 24 | 0.08× | — | ||
| Q1 24 | 0.07× | — |
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 | $13.1M | $-52.3M |
| 自由现金流经营现金流 - 资本支出 | $12.9M | $-52.8M |
| 自由现金流率自由现金流/营收 | 25.5% | -174.0% |
| 资本支出强度资本支出/营收 | 0.4% | 1.7% |
| 现金转化率经营现金流/净利润 | 0.88× | — |
| 过去12个月自由现金流最近4个季度 | $21.0M | $-126.4M |
8季度趋势，按日历期对齐
经营现金流NCSMRGNX
| Q4 25 | $13.1M | $-52.3M | ||
| Q3 25 | $7.2M | $-56.0M | ||
| Q2 25 | $3.5M | $-49.3M | ||
| Q1 25 | $-1.6M | $33.6M | ||
| Q4 24 | $10.6M | $-31.6M | ||
| Q3 24 | $-2.0M | $-40.5M | ||
| Q2 24 | $6.0M | $-45.5M | ||
| Q1 24 | $-1.9M | $-55.5M |
自由现金流NCSMRGNX
| Q4 25 | $12.9M | $-52.8M | ||
| Q3 25 | $6.9M | $-56.5M | ||
| Q2 25 | $3.2M | $-49.7M | ||
| Q1 25 | $-2.1M | $32.6M | ||
| Q4 24 | $10.4M | $-32.7M | ||
| Q3 24 | $-2.5M | $-40.9M | ||
| Q2 24 | $5.6M | $-46.0M | ||
| Q1 24 | $-2.2M | $-56.0M |
自由现金流率NCSMRGNX
| Q4 25 | 25.5% | -174.0% | ||
| Q3 25 | 14.9% | -189.9% | ||
| Q2 25 | 8.9% | -232.8% | ||
| Q1 25 | -4.2% | 36.6% | ||
| Q4 24 | 23.1% | -154.2% | ||
| Q3 24 | -5.6% | -168.9% | ||
| Q2 24 | 19.0% | -206.2% | ||
| Q1 24 | -5.0% | -358.5% |
资本支出强度NCSMRGNX
| Q4 25 | 0.4% | 1.7% | ||
| Q3 25 | 0.5% | 1.7% | ||
| Q2 25 | 0.8% | 1.8% | ||
| Q1 25 | 0.9% | 1.2% | ||
| Q4 24 | 0.5% | 5.1% | ||
| Q3 24 | 1.0% | 1.3% | ||
| Q2 24 | 1.1% | 2.1% | ||
| Q1 24 | 0.7% | 3.6% |
现金转化率NCSMRGNX
| Q4 25 | 0.88× | — | ||
| Q3 25 | 1.88× | — | ||
| Q2 25 | 3.81× | — | ||
| Q1 25 | -0.41× | 5.53× | ||
| Q4 24 | 3.07× | — | ||
| Q3 24 | -0.49× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.91× | — |
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
NCSM
| Products | $33.8M | 67% |
| Services | $16.8M | 33% |
RGNX
| Novartis Gene Therapies | $24.2M | 80% |
| Nippon Shinyaku Collaboration And License Agreement | $4.3M | 14% |
| Nippon Shinyaku Services | $1.4M | 5% |
