vs
NOVAVAX INC（NVAX）与Ribbon Communications Inc.（RBBN）财务数据对比。点击上方公司名可切换其他公司
Ribbon Communications Inc.的季度营收约是NOVAVAX INC的1.1倍（$162.6M vs $147.3M），Ribbon Communications Inc.净利率更高（54.8% vs 11.9%，领先42.9%），NOVAVAX INC同比增速更快（66.8% vs -10.3%），过去两年NOVAVAX INC的营收复合增速更高（25.3% vs -8.1%）
诺瓦瓦克斯是一家总部位于美国马里兰州盖瑟斯堡的生物科技企业，专注于传染病疫苗研发。其开发的新冠疫苗现由赛诺菲负责商业化，同时还在布局流感、呼吸道合胞病毒（RSV）、禽流感、带状疱疹、艰难梭菌感染、疟疾等多个领域的疫苗管线。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
NVAX vs RBBN — 直观对比
营收规模更大
RBBN
是对方的1.1倍
$147.3M
营收增速更快
NVAX
高出77.1%
-10.3%
净利率更高
RBBN
高出42.9%
11.9%
两年增速更快
NVAX
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $147.3M | $162.6M |
| 净利润 | $17.5M | $89.1M |
| 毛利率 | 85.0% | 42.9% |
| 营业利润率 | 9.7% | 37.6% |
| 净利率 | 11.9% | 54.8% |
| 营收同比 | 66.8% | -10.3% |
| 净利润同比 | 121.6% | — |
| 每股收益（稀释后） | $0.28 | $0.50 |
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NVAXRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $147.3M | $227.3M | ||
| Q3 25 | $70.4M | $215.4M | ||
| Q2 25 | $239.2M | $220.6M | ||
| Q1 25 | $666.5M | $181.3M | ||
| Q4 24 | $88.3M | $251.4M | ||
| Q3 24 | $84.5M | $210.2M | ||
| Q2 24 | $415.5M | $192.6M |
净利润NVAXRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $17.5M | — | ||
| Q3 25 | $-202.4M | $-12.1M | ||
| Q2 25 | $106.5M | $-11.1M | ||
| Q1 25 | $518.6M | $-26.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-121.3M | $-13.4M | ||
| Q2 24 | $162.4M | $-16.8M |
毛利率NVAXRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | 85.0% | 53.3% | ||
| Q3 25 | 69.5% | 50.1% | ||
| Q2 25 | 93.6% | 49.6% | ||
| Q1 25 | 97.9% | 45.4% | ||
| Q4 24 | 58.5% | 55.7% | ||
| Q3 24 | 28.3% | 52.1% | ||
| Q2 24 | 88.9% | 50.8% |
营业利润率NVAXRBBN
| Q1 26 | — | 37.6% | ||
| Q4 25 | 9.7% | 4.1% | ||
| Q3 25 | -252.7% | 1.3% | ||
| Q2 25 | 42.2% | 1.9% | ||
| Q1 25 | 77.4% | -10.8% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | -158.6% | -0.4% | ||
| Q2 24 | 38.7% | -1.0% |
净利率NVAXRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | 11.9% | — | ||
| Q3 25 | -287.3% | -5.6% | ||
| Q2 25 | 44.5% | -5.0% | ||
| Q1 25 | 77.8% | -14.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | -143.5% | -6.4% | ||
| Q2 24 | 39.1% | -8.7% |
每股收益（稀释后）NVAXRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $0.28 | $0.50 | ||
| Q3 25 | $-1.25 | $-0.07 | ||
| Q2 25 | $0.62 | $-0.06 | ||
| Q1 25 | $2.93 | $-0.15 | ||
| Q4 24 | — | $0.05 | ||
| Q3 24 | $-0.76 | $-0.08 | ||
| Q2 24 | $0.99 | $-0.10 |
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 | $735.1M | $67.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-127.8M | $419.1M |
| 总资产 | $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NVAXRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $735.1M | $96.4M | ||
| Q3 25 | $762.9M | $74.8M | ||
| Q2 25 | $612.3M | $60.5M | ||
| Q1 25 | $731.5M | $71.2M | ||
| Q4 24 | $923.1M | $87.8M | ||
| Q3 24 | $909.5M | $37.2M | ||
| Q2 24 | $1.0B | $64.6M |
总债务NVAXRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | $342.1M | ||
| Q3 25 | — | $344.3M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $347.4M | ||
| Q4 24 | — | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | — | $350.0M |
股东权益NVAXRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $-127.8M | $449.0M | ||
| Q3 25 | $-156.7M | $360.1M | ||
| Q2 25 | $37.6M | $370.4M | ||
| Q1 25 | $-75.6M | $381.8M | ||
| Q4 24 | $-623.8M | $404.6M | ||
| Q3 24 | $-526.4M | $395.5M | ||
| Q2 24 | $-431.7M | $405.0M |
总资产NVAXRBBN
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $1.7B | $1.1B | ||
| Q2 24 | $1.8B | $1.1B |
负债/权益比NVAXRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 0.86× |
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 | $-39.5M | — |
| 自由现金流经营现金流 - 资本支出 | $-41.6M | — |
| 自由现金流率自由现金流/营收 | -28.2% | — |
| 资本支出强度资本支出/营收 | 1.4% | — |
| 现金转化率经营现金流/净利润 | -2.25× | — |
| 过去12个月自由现金流最近4个季度 | $-250.2M | — |
8季度趋势，按日历期对齐
经营现金流NVAXRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-39.5M | $29.2M | ||
| Q3 25 | $107.8M | $26.5M | ||
| Q2 25 | $-127.5M | $-795.0K | ||
| Q1 25 | $-185.5M | $-3.5M | ||
| Q4 24 | $-87.3M | $61.8M | ||
| Q3 24 | $-144.8M | $-14.8M | ||
| Q2 24 | $314.3M | $-9.8M |
自由现金流NVAXRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-41.6M | $27.3M | ||
| Q3 25 | $105.8M | $21.0M | ||
| Q2 25 | $-127.7M | $-6.5M | ||
| Q1 25 | $-186.7M | $-15.7M | ||
| Q4 24 | $-100.3M | $53.8M | ||
| Q3 24 | $-146.2M | $-23.7M | ||
| Q2 24 | $311.4M | $-12.9M |
自由现金流率NVAXRBBN
| Q1 26 | — | — | ||
| Q4 25 | -28.2% | 12.0% | ||
| Q3 25 | 150.2% | 9.7% | ||
| Q2 25 | -53.4% | -2.9% | ||
| Q1 25 | -28.0% | -8.7% | ||
| Q4 24 | -113.6% | 21.4% | ||
| Q3 24 | -173.0% | -11.3% | ||
| Q2 24 | 74.9% | -6.7% |
资本支出强度NVAXRBBN
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 0.9% | ||
| Q3 25 | 2.9% | 2.6% | ||
| Q2 25 | 0.1% | 2.6% | ||
| Q1 25 | 0.2% | 6.7% | ||
| Q4 24 | 14.8% | 3.2% | ||
| Q3 24 | 1.6% | 4.2% | ||
| Q2 24 | 0.7% | 1.6% |
现金转化率NVAXRBBN
| Q1 26 | — | — | ||
| Q4 25 | -2.25× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -1.20× | — | ||
| Q1 25 | -0.36× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.94× | — |
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
NVAX
| Licensing Royalties And Other | $107.9M | 73% |
| Products | $39.2M | 27% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
