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埃克西尔能源（NINE）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
埃克西尔能源的季度营收约是再鼎医药的1.0倍（$132.2M vs $127.1M），再鼎医药同比增速更快（17.1% vs -6.5%），埃克西尔能源自由现金流更多（$-4.8M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs -3.6%）
埃克西尔能源是一家受美国监管的电力与天然气配送企业，总部位于明尼苏达州明尼阿波利斯。截至2025年年中，公司业务覆盖八个州的部分区域，服务约390万电力客户与220万天然气客户，下设四家运营子公司，分别为明尼苏达北州电力、威斯康星北州电力、科罗拉多公共服务公司以及西南公共服务公司。
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。
NINE vs ZLAB — 直观对比
营收规模更大
NINE
是对方的1.0倍
$127.1M
营收增速更快
ZLAB
高出23.7%
-6.5%
自由现金流更多
NINE
多$21.9M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
-3.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $132.2M | $127.1M |
| 净利润 | $-19.2M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | -4.2% | -54.6% |
| 净利率 | -14.5% | — |
| 营收同比 | -6.5% | 17.1% |
| 净利润同比 | -117.4% | — |
| 每股收益（稀释后） | $-0.47 | $-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NINEZLAB
| Q4 25 | $132.2M | $127.1M | ||
| Q3 25 | $132.0M | $115.4M | ||
| Q2 25 | $147.3M | $109.1M | ||
| Q1 25 | $150.5M | $105.7M | ||
| Q4 24 | $141.4M | $108.5M | ||
| Q3 24 | $138.2M | $101.8M | ||
| Q2 24 | $132.4M | $100.1M | ||
| Q1 24 | $142.1M | $87.1M |
净利润NINEZLAB
| Q4 25 | $-19.2M | — | ||
| Q3 25 | $-14.6M | $-36.0M | ||
| Q2 25 | $-10.4M | $-40.7M | ||
| Q1 25 | $-7.1M | $-48.4M | ||
| Q4 24 | $-8.8M | — | ||
| Q3 24 | $-10.1M | $-41.7M | ||
| Q2 24 | $-14.0M | $-80.3M | ||
| Q1 24 | $-8.1M | $-53.5M |
毛利率NINEZLAB
| 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NINEZLAB
| Q4 25 | -4.2% | -54.6% | ||
| Q3 25 | -0.9% | -42.3% | ||
| Q2 25 | 2.3% | -50.3% | ||
| Q1 25 | 3.7% | -53.3% | ||
| Q4 24 | 2.5% | -62.6% | ||
| Q3 24 | 1.8% | -66.6% | ||
| Q2 24 | -1.1% | -76.0% | ||
| Q1 24 | 3.1% | -80.7% |
净利率NINEZLAB
| Q4 25 | -14.5% | — | ||
| Q3 25 | -11.1% | -31.2% | ||
| Q2 25 | -7.1% | -37.3% | ||
| Q1 25 | -4.7% | -45.8% | ||
| Q4 24 | -6.3% | — | ||
| Q3 24 | -7.3% | -40.9% | ||
| Q2 24 | -10.6% | -80.2% | ||
| Q1 24 | -5.7% | -61.4% |
每股收益（稀释后）NINEZLAB
| Q4 25 | $-0.47 | $-0.05 | ||
| Q3 25 | $-0.35 | $-0.03 | ||
| Q2 25 | $-0.25 | $-0.04 | ||
| Q1 25 | $-0.18 | $-0.04 | ||
| Q4 24 | $-0.21 | $-0.09 | ||
| Q3 24 | $-0.26 | $-0.04 | ||
| Q2 24 | $-0.40 | $-0.08 | ||
| Q1 24 | $-0.24 | $-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 | $18.4M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-115.0M | $715.5M |
| 总资产 | $339.5M | $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NINEZLAB
| Q4 25 | $18.4M | $689.6M | ||
| Q3 25 | $14.4M | $717.2M | ||
| Q2 25 | $14.2M | $732.2M | ||
| Q1 25 | $17.3M | $757.3M | ||
| Q4 24 | $27.9M | $779.7M | ||
| Q3 24 | $15.7M | $616.1M | ||
| Q2 24 | $26.0M | $630.0M | ||
| Q1 24 | $10.2M | $650.8M |
股东权益NINEZLAB
| Q4 25 | $-115.0M | $715.5M | ||
| Q3 25 | $-95.9M | $759.9M | ||
| Q2 25 | $-81.7M | $791.7M | ||
| Q1 25 | $-72.1M | $810.8M | ||
| Q4 24 | $-66.1M | $840.9M | ||
| Q3 24 | $-57.6M | $667.7M | ||
| Q2 24 | $-49.7M | $704.2M | ||
| Q1 24 | $-43.3M | $762.2M |
总资产NINEZLAB
| Q4 25 | $339.5M | $1.2B | ||
| Q3 25 | $340.7M | $1.2B | ||
| Q2 25 | $361.2M | $1.2B | ||
| Q1 25 | $359.2M | $1.2B | ||
| Q4 24 | $360.1M | $1.2B | ||
| Q3 24 | $353.2M | $985.3M | ||
| Q2 24 | $381.7M | $987.4M | ||
| Q1 24 | $380.4M | $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 | $-2.2M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-4.8M | $-26.7M |
| 自由现金流率自由现金流/营收 | -3.6% | -21.0% |
| 资本支出强度资本支出/营收 | 2.0% | 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 | $-23.3M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流NINEZLAB
| Q4 25 | $-2.2M | $-26.0M | ||
| Q3 25 | $-9.9M | $-32.0M | ||
| Q2 25 | $10.1M | $-31.0M | ||
| Q1 25 | $-5.3M | $-61.7M | ||
| Q4 24 | $15.0M | $-55.8M | ||
| Q3 24 | $-5.8M | $-26.8M | ||
| Q2 24 | $12.9M | $-42.2M | ||
| Q1 24 | $-8.8M | $-90.1M |
自由现金流NINEZLAB
| Q4 25 | $-4.8M | $-26.7M | ||
| Q3 25 | $-13.4M | $-35.0M | ||
| Q2 25 | $4.2M | $-33.9M | ||
| Q1 25 | $-9.3M | $-63.2M | ||
| Q4 24 | $11.8M | $-58.4M | ||
| Q3 24 | $-9.3M | $-28.2M | ||
| Q2 24 | $10.3M | $-42.9M | ||
| Q1 24 | $-14.3M | $-91.1M |
自由现金流率NINEZLAB
| Q4 25 | -3.6% | -21.0% | ||
| Q3 25 | -10.2% | -30.4% | ||
| Q2 25 | 2.9% | -31.1% | ||
| Q1 25 | -6.2% | -59.9% | ||
| Q4 24 | 8.3% | -53.8% | ||
| Q3 24 | -6.7% | -27.7% | ||
| Q2 24 | 7.7% | -42.9% | ||
| Q1 24 | -10.1% | -104.5% |
资本支出强度NINEZLAB
| Q4 25 | 2.0% | 0.5% | ||
| Q3 25 | 2.6% | 2.6% | ||
| Q2 25 | 4.0% | 2.6% | ||
| Q1 25 | 2.6% | 1.5% | ||
| Q4 24 | 2.3% | 2.4% | ||
| Q3 24 | 2.5% | 1.3% | ||
| Q2 24 | 2.0% | 0.7% | ||
| Q1 24 | 3.9% | 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
NINE
| Cement | $52.6M | 40% |
| Tool Revenue | $28.6M | 22% |
| Coiled Tubing | $25.8M | 20% |
| Wireline | $25.1M | 19% |
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% |
