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NOODLES & Co（NDLS）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NOODLES & Co的1.0倍（$127.1M vs $122.1M），再鼎医药同比增速更快（17.1% vs -4.1%），NOODLES & Co自由现金流更多（$-2.8M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs -1.2%）
Noodles & Company是源自美国的休闲快餐连锁品牌，主打融合多国风味及美式特色的面条菜品，同时也供应汤品和沙拉。品牌由亚伦·肯尼迪创立于1995年，总部位于科罗拉多州布鲁姆菲尔德，截至2022年年中，品牌已在美国31个州开出了458家门店。
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。
NDLS vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.0倍
$122.1M
营收增速更快
ZLAB
高出21.3%
-4.1%
自由现金流更多
NDLS
多$23.9M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
-1.2%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $122.1M | $127.1M |
| 净利润 | $-9.2M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | -5.2% | -54.6% |
| 净利率 | -7.5% | — |
| 营收同比 | -4.1% | 17.1% |
| 净利润同比 | 32.8% | — |
| 每股收益（稀释后） | $-0.20 | $-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NDLSZLAB
| Q4 25 | — | $127.1M | ||
| Q3 25 | $122.1M | $115.4M | ||
| Q2 25 | $123.8M | $109.1M | ||
| Q1 25 | — | $105.7M | ||
| Q4 24 | $122.8M | $108.5M | ||
| Q3 24 | $127.4M | $101.8M | ||
| Q2 24 | $121.4M | $100.1M | ||
| Q1 24 | $124.3M | $87.1M |
净利润NDLSZLAB
| Q4 25 | — | — | ||
| Q3 25 | $-9.2M | $-36.0M | ||
| Q2 25 | $-9.1M | $-40.7M | ||
| Q1 25 | — | $-48.4M | ||
| Q4 24 | $-6.8M | — | ||
| Q3 24 | $-13.6M | $-41.7M | ||
| Q2 24 | $-6.1M | $-80.3M | ||
| Q1 24 | $-6.1M | $-53.5M |
毛利率NDLSZLAB
| 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% | ||
| Q1 24 | — | 61.4% |
营业利润率NDLSZLAB
| Q4 25 | — | -54.6% | ||
| Q3 25 | -5.2% | -42.3% | ||
| Q2 25 | -5.2% | -50.3% | ||
| Q1 25 | — | -53.3% | ||
| Q4 24 | -3.9% | -62.6% | ||
| Q3 24 | -9.0% | -66.6% | ||
| Q2 24 | -3.4% | -76.0% | ||
| Q1 24 | -3.7% | -80.7% |
净利率NDLSZLAB
| Q4 25 | — | — | ||
| Q3 25 | -7.5% | -31.2% | ||
| Q2 25 | -7.3% | -37.3% | ||
| Q1 25 | — | -45.8% | ||
| Q4 24 | -5.5% | — | ||
| Q3 24 | -10.7% | -40.9% | ||
| Q2 24 | -5.1% | -80.2% | ||
| Q1 24 | -4.9% | -61.4% |
每股收益（稀释后）NDLSZLAB
| Q4 25 | — | $-0.05 | ||
| Q3 25 | $-0.20 | $-0.03 | ||
| Q2 25 | $-0.20 | $-0.04 | ||
| Q1 25 | — | $-0.04 | ||
| Q4 24 | $-0.15 | $-0.09 | ||
| Q3 24 | $-0.30 | $-0.04 | ||
| Q2 24 | $-0.14 | $-0.08 | ||
| Q1 24 | $-1.64 | $-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 | $4.7M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-38.9M | $715.5M |
| 总资产 | $280.6M | $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NDLSZLAB
| Q4 25 | — | $689.6M | ||
| Q3 25 | $4.7M | $717.2M | ||
| Q2 25 | $1.4M | $732.2M | ||
| Q1 25 | — | $757.3M | ||
| Q4 24 | $3.3M | $779.7M | ||
| Q3 24 | $1.8M | $616.1M | ||
| Q2 24 | $1.3M | $630.0M | ||
| Q1 24 | $3.0M | $650.8M |
股东权益NDLSZLAB
| Q4 25 | — | $715.5M | ||
| Q3 25 | $-38.9M | $759.9M | ||
| Q2 25 | $-13.9M | $791.7M | ||
| Q1 25 | — | $810.8M | ||
| Q4 24 | $3.7M | $840.9M | ||
| Q3 24 | $9.6M | $667.7M | ||
| Q2 24 | $21.9M | $704.2M | ||
| Q1 24 | $27.2M | $762.2M |
总资产NDLSZLAB
| Q4 25 | — | $1.2B | ||
| Q3 25 | $280.6M | $1.2B | ||
| Q2 25 | $319.4M | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $340.5M | $1.2B | ||
| Q3 24 | $346.3M | $985.3M | ||
| Q2 24 | $360.4M | $987.4M | ||
| Q1 24 | $368.1M | $988.4M |
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 | $4.3M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-2.8M | $-26.7M |
| 自由现金流率自由现金流/营收 | -2.3% | -21.0% |
| 资本支出强度资本支出/营收 | 5.8% | 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 | $-7.5M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流NDLSZLAB
| Q4 25 | — | $-26.0M | ||
| Q3 25 | $4.3M | $-32.0M | ||
| Q2 25 | $4.0M | $-31.0M | ||
| Q1 25 | — | $-61.7M | ||
| Q4 24 | $5.8M | $-55.8M | ||
| Q3 24 | $4.7M | $-26.8M | ||
| Q2 24 | $7.0M | $-42.2M | ||
| Q1 24 | $164.0K | $-90.1M |
自由现金流NDLSZLAB
| Q4 25 | — | $-26.7M | ||
| Q3 25 | $-2.8M | $-35.0M | ||
| Q2 25 | $1.1M | $-33.9M | ||
| Q1 25 | — | $-63.2M | ||
| Q4 24 | $-1.3M | $-58.4M | ||
| Q3 24 | $-4.5M | $-28.2M | ||
| Q2 24 | $-1.6M | $-42.9M | ||
| Q1 24 | $-15.2M | $-91.1M |
自由现金流率NDLSZLAB
| Q4 25 | — | -21.0% | ||
| Q3 25 | -2.3% | -30.4% | ||
| Q2 25 | 0.9% | -31.1% | ||
| Q1 25 | — | -59.9% | ||
| Q4 24 | -1.1% | -53.8% | ||
| Q3 24 | -3.5% | -27.7% | ||
| Q2 24 | -1.4% | -42.9% | ||
| Q1 24 | -12.2% | -104.5% |
资本支出强度NDLSZLAB
| Q4 25 | — | 0.5% | ||
| Q3 25 | 5.8% | 2.6% | ||
| Q2 25 | 2.4% | 2.6% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | 5.8% | 2.4% | ||
| Q3 24 | 7.2% | 1.3% | ||
| Q2 24 | 7.1% | 0.7% | ||
| Q1 24 | 12.3% | 1.1% |
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
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 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% |
