vs
National Healthcare Properties, Inc.（NHPAP）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 Healthcare Properties, Inc.的1.5倍（$127.1M vs $84.5M），再鼎医药同比增速更快（17.1% vs -3.7%），过去两年再鼎医药的营收复合增速更高（20.8% vs -2.2%）
本公司是一家总部位于英国伦敦的房地产投资企业，核心业务为投资运营基础医疗设施。截至2025年6月，公司在英国和爱尔兰拥有并运营超过500家基础医疗机构，目前在伦敦证券交易所上市，是富时250指数的成分股之一。
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。
NHPAP vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.5倍
$84.5M
营收增速更快
ZLAB
高出20.8%
-3.7%
两年增速更快
ZLAB
近两年复合增速
-2.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $84.5M | $127.1M |
| 净利润 | $-22.8M | — |
| 毛利率 | 36.5% | 51.0% |
| 营业利润率 | -7.8% | -54.6% |
| 净利率 | -27.0% | — |
| 营收同比 | -3.7% | 17.1% |
| 净利润同比 | -33.9% | — |
| 每股收益（稀释后） | $-0.92 | $-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NHPAPZLAB
| Q4 25 | $84.5M | $127.1M | ||
| Q3 25 | $86.0M | $115.4M | ||
| Q2 25 | $85.3M | $109.1M | ||
| Q1 25 | $86.4M | $105.7M | ||
| Q4 24 | $87.7M | $108.5M | ||
| Q3 24 | $88.9M | $101.8M | ||
| Q2 24 | $88.8M | $100.1M | ||
| Q1 24 | $88.3M | $87.1M |
净利润NHPAPZLAB
| Q4 25 | $-22.8M | — | ||
| Q3 25 | $-12.5M | $-36.0M | ||
| Q2 25 | $-20.8M | $-40.7M | ||
| Q1 25 | $-1.5M | $-48.4M | ||
| Q4 24 | $-17.0M | — | ||
| Q3 24 | $-40.8M | $-41.7M | ||
| Q2 24 | $-116.9M | $-80.3M | ||
| Q1 24 | $-15.6M | $-53.5M |
毛利率NHPAPZLAB
| Q4 25 | 36.5% | 51.0% | ||
| Q3 25 | 37.4% | 59.5% | ||
| Q2 25 | 36.9% | 60.6% | ||
| Q1 25 | 33.4% | 63.6% | ||
| Q4 24 | 37.4% | 61.5% | ||
| Q3 24 | 36.6% | 64.1% | ||
| Q2 24 | 38.1% | 64.9% | ||
| Q1 24 | 37.5% | 61.4% |
营业利润率NHPAPZLAB
| Q4 25 | -7.8% | -54.6% | ||
| Q3 25 | 2.8% | -42.3% | ||
| Q2 25 | -6.5% | -50.3% | ||
| Q1 25 | 15.1% | -53.3% | ||
| Q4 24 | -1.2% | -62.6% | ||
| Q3 24 | -23.5% | -66.6% | ||
| Q2 24 | -113.1% | -76.0% | ||
| Q1 24 | -1.3% | -80.7% |
净利率NHPAPZLAB
| Q4 25 | -27.0% | — | ||
| Q3 25 | -14.6% | -31.2% | ||
| Q2 25 | -24.4% | -37.3% | ||
| Q1 25 | -1.8% | -45.8% | ||
| Q4 24 | -19.4% | — | ||
| Q3 24 | -45.8% | -40.9% | ||
| Q2 24 | -131.6% | -80.2% | ||
| Q1 24 | -17.6% | -61.4% |
每股收益（稀释后）NHPAPZLAB
| Q4 25 | $-0.92 | $-0.05 | ||
| Q3 25 | $-0.56 | $-0.03 | ||
| Q2 25 | $-0.85 | $-0.04 | ||
| Q1 25 | $-0.18 | $-0.04 | ||
| Q4 24 | $-0.72 | $-0.09 | ||
| Q3 24 | $-1.56 | $-0.04 | ||
| Q2 24 | $-4.24 | $-0.08 | ||
| Q1 24 | $-0.67 | $-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 | $57.6M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $600.1M | $715.5M |
| 总资产 | $1.7B | $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NHPAPZLAB
| Q4 25 | $57.6M | $689.6M | ||
| Q3 25 | $47.1M | $717.2M | ||
| Q2 25 | $47.1M | $732.2M | ||
| Q1 25 | $71.4M | $757.3M | ||
| Q4 24 | $21.7M | $779.7M | ||
| Q3 24 | $32.9M | $616.1M | ||
| Q2 24 | $29.5M | $630.0M | ||
| Q1 24 | $28.7M | $650.8M |
股东权益NHPAPZLAB
| Q4 25 | $600.1M | $715.5M | ||
| Q3 25 | $627.2M | $759.9M | ||
| Q2 25 | $647.0M | $791.7M | ||
| Q1 25 | $674.6M | $810.8M | ||
| Q4 24 | $684.6M | $840.9M | ||
| Q3 24 | $702.6M | $667.7M | ||
| Q2 24 | $756.7M | $704.2M | ||
| Q1 24 | $877.7M | $762.2M |
总资产NHPAPZLAB
| Q4 25 | $1.7B | $1.2B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.8B | $1.2B | ||
| Q4 24 | $1.9B | $1.2B | ||
| Q3 24 | $2.0B | $985.3M | ||
| Q2 24 | $2.1B | $987.4M | ||
| Q1 24 | $2.1B | $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 | $7.0M | $-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NHPAPZLAB
| Q4 25 | $7.0M | $-26.0M | ||
| Q3 25 | $10.2M | $-32.0M | ||
| Q2 25 | $8.1M | $-31.0M | ||
| Q1 25 | $-21.2M | $-61.7M | ||
| Q4 24 | $-79.8M | $-55.8M | ||
| Q3 24 | $-95.2M | $-26.8M | ||
| Q2 24 | $6.4M | $-42.2M | ||
| Q1 24 | $2.5M | $-90.1M |
自由现金流NHPAPZLAB
| 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 | ||
| Q1 24 | — | $-91.1M |
自由现金流率NHPAPZLAB
| 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% | ||
| Q1 24 | — | -104.5% |
资本支出强度NHPAPZLAB
| 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% | ||
| Q1 24 | — | 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
NHPAP
| Seniors Housing Communities | $56.3M | 67% |
| Outpatient Medical Facilities | $28.1M | 33% |
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% |
