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NETSCOUT SYSTEMS INC（NTCT）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
NETSCOUT SYSTEMS INC的季度营收约是再鼎医药的2.0倍（$250.7M vs $127.1M），再鼎医药同比增速更快（17.1% vs -0.5%），NETSCOUT SYSTEMS INC自由现金流更多（$59.3M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 11.0%）
NETSCOUT SYSTEMS INC是美国科技企业，1984年由阿尼尔·辛哈尔与纳伦德拉·波帕特创立，前身为Frontier Software，总部位于马萨诸塞州韦斯特福德。公司专注于软件可观测性、深度数据包检测、DDoS防护及AIOps领域，为客户提供相关技术解决方案。
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。
NTCT vs ZLAB — 直观对比
营收规模更大
NTCT
是对方的2.0倍
$127.1M
营收增速更快
ZLAB
高出17.6%
-0.5%
自由现金流更多
NTCT
多$86.0M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
11.0%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $250.7M | $127.1M |
| 净利润 | $55.1M | — |
| 毛利率 | 81.6% | 51.0% |
| 营业利润率 | 25.7% | -54.6% |
| 净利率 | 22.0% | — |
| 营收同比 | -0.5% | 17.1% |
| 净利润同比 | 13.0% | — |
| 每股收益（稀释后） | $0.75 | $-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NTCTZLAB
| Q4 25 | $250.7M | $127.1M | ||
| Q3 25 | $219.0M | $115.4M | ||
| Q2 25 | $186.7M | $109.1M | ||
| Q1 25 | $205.0M | $105.7M | ||
| Q4 24 | $252.0M | $108.5M | ||
| Q3 24 | $191.1M | $101.8M | ||
| Q2 24 | $174.6M | $100.1M | ||
| Q1 24 | $203.4M | $87.1M |
净利润NTCTZLAB
| Q4 25 | $55.1M | — | ||
| Q3 25 | $25.8M | $-36.0M | ||
| Q2 25 | $-3.7M | $-40.7M | ||
| Q1 25 | $18.6M | $-48.4M | ||
| Q4 24 | $48.8M | — | ||
| Q3 24 | $9.0M | $-41.7M | ||
| Q2 24 | $-443.4M | $-80.3M | ||
| Q1 24 | $-32.4M | $-53.5M |
毛利率NTCTZLAB
| Q4 25 | 81.6% | 51.0% | ||
| Q3 25 | 80.1% | 59.5% | ||
| Q2 25 | 76.7% | 60.6% | ||
| Q1 25 | 77.7% | 63.6% | ||
| Q4 24 | 81.5% | 61.5% | ||
| Q3 24 | 78.0% | 64.1% | ||
| Q2 24 | 74.6% | 64.9% | ||
| Q1 24 | 75.3% | 61.4% |
营业利润率NTCTZLAB
| Q4 25 | 25.7% | -54.6% | ||
| Q3 25 | 14.8% | -42.3% | ||
| Q2 25 | -3.5% | -50.3% | ||
| Q1 25 | 9.7% | -53.3% | ||
| Q4 24 | 24.5% | -62.6% | ||
| Q3 24 | 7.4% | -66.6% | ||
| Q2 24 | -265.4% | -76.0% | ||
| Q1 24 | -18.2% | -80.7% |
净利率NTCTZLAB
| Q4 25 | 22.0% | — | ||
| Q3 25 | 11.8% | -31.2% | ||
| Q2 25 | -2.0% | -37.3% | ||
| Q1 25 | 9.1% | -45.8% | ||
| Q4 24 | 19.4% | — | ||
| Q3 24 | 4.7% | -40.9% | ||
| Q2 24 | -254.0% | -80.2% | ||
| Q1 24 | -15.9% | -61.4% |
每股收益（稀释后）NTCTZLAB
| Q4 25 | $0.75 | $-0.05 | ||
| Q3 25 | $0.35 | $-0.03 | ||
| Q2 25 | $-0.05 | $-0.04 | ||
| Q1 25 | $0.28 | $-0.04 | ||
| Q4 24 | $0.67 | $-0.09 | ||
| Q3 24 | $0.13 | $-0.04 | ||
| Q2 24 | $-6.20 | $-0.08 | ||
| Q1 24 | $-0.43 | $-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 | $540.6M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.6B | $715.5M |
| 总资产 | $2.3B | $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NTCTZLAB
| Q4 25 | $540.6M | $689.6M | ||
| Q3 25 | $483.4M | $717.2M | ||
| Q2 25 | $489.6M | $732.2M | ||
| Q1 25 | $457.4M | $757.3M | ||
| Q4 24 | $398.4M | $779.7M | ||
| Q3 24 | $363.4M | $616.1M | ||
| Q2 24 | $362.2M | $630.0M | ||
| Q1 24 | $389.7M | $650.8M |
股东权益NTCTZLAB
| Q4 25 | $1.6B | $715.5M | ||
| Q3 25 | $1.6B | $759.9M | ||
| Q2 25 | $1.5B | $791.7M | ||
| Q1 25 | $1.6B | $810.8M | ||
| Q4 24 | $1.5B | $840.9M | ||
| Q3 24 | $1.5B | $667.7M | ||
| Q2 24 | $1.4B | $704.2M | ||
| Q1 24 | $1.9B | $762.2M |
总资产NTCTZLAB
| Q4 25 | $2.3B | $1.2B | ||
| Q3 25 | $2.2B | $1.2B | ||
| Q2 25 | $2.2B | $1.2B | ||
| Q1 25 | $2.2B | $1.2B | ||
| Q4 24 | $2.2B | $1.2B | ||
| Q3 24 | $2.1B | $985.3M | ||
| Q2 24 | $2.1B | $987.4M | ||
| Q1 24 | $2.6B | $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 | $62.1M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $59.3M | $-26.7M |
| 自由现金流率自由现金流/营收 | 23.6% | -21.0% |
| 资本支出强度资本支出/营收 | 1.1% | 0.5% |
| 现金转化率经营现金流/净利润 | 1.13× | — |
| 过去12个月自由现金流最近4个季度 | $275.5M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流NTCTZLAB
| Q4 25 | $62.1M | $-26.0M | ||
| Q3 25 | $6.7M | $-32.0M | ||
| Q2 25 | $73.6M | $-31.0M | ||
| Q1 25 | $141.5M | $-61.7M | ||
| Q4 24 | $41.5M | $-55.8M | ||
| Q3 24 | $-3.7M | $-26.8M | ||
| Q2 24 | $38.4M | $-42.2M | ||
| Q1 24 | $93.6M | $-90.1M |
自由现金流NTCTZLAB
| Q4 25 | $59.3M | $-26.7M | ||
| Q3 25 | $4.4M | $-35.0M | ||
| Q2 25 | $71.7M | $-33.9M | ||
| Q1 25 | $140.1M | $-63.2M | ||
| Q4 24 | $39.6M | $-58.4M | ||
| Q3 24 | $-4.6M | $-28.2M | ||
| Q2 24 | $37.2M | $-42.9M | ||
| Q1 24 | $92.0M | $-91.1M |
自由现金流率NTCTZLAB
| Q4 25 | 23.6% | -21.0% | ||
| Q3 25 | 2.0% | -30.4% | ||
| Q2 25 | 38.4% | -31.1% | ||
| Q1 25 | 68.4% | -59.9% | ||
| Q4 24 | 15.7% | -53.8% | ||
| Q3 24 | -2.4% | -27.7% | ||
| Q2 24 | 21.3% | -42.9% | ||
| Q1 24 | 45.2% | -104.5% |
资本支出强度NTCTZLAB
| Q4 25 | 1.1% | 0.5% | ||
| Q3 25 | 1.0% | 2.6% | ||
| Q2 25 | 1.0% | 2.6% | ||
| Q1 25 | 0.7% | 1.5% | ||
| Q4 24 | 0.7% | 2.4% | ||
| Q3 24 | 0.5% | 1.3% | ||
| Q2 24 | 0.7% | 0.7% | ||
| Q1 24 | 0.8% | 1.1% |
现金转化率NTCTZLAB
| Q4 25 | 1.13× | — | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 7.60× | — | ||
| Q4 24 | 0.85× | — | ||
| Q3 24 | -0.41× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
NTCT
| Services | $129.0M | 51% |
| Products | $121.7M | 49% |
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% |
