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NOVAVAX INC（NVAX）与REPLIGEN CORP（RGEN）财务数据对比。点击上方公司名可切换其他公司
REPLIGEN CORP的季度营收约是NOVAVAX INC的1.3倍（$197.9M vs $147.3M），NOVAVAX INC净利率更高（11.9% vs 6.7%，领先5.2%），NOVAVAX INC同比增速更快（66.8% vs 13.6%），REPLIGEN CORP自由现金流更多（$17.6M vs $-41.6M），过去两年NOVAVAX INC的营收复合增速更高（25.3% vs 14.4%）
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。
Repligen是一家全球生命科学企业，专注于创新生物工艺技术与系统的研发及商业化，助力提升生物药生产效率。公司1981年成立，总部位于美国马萨诸塞州沃尔瑟姆，于纳斯达克挂牌上市，股票代码RGEN，截至2025年全球员工超1900人，主要服务生物制药领域客户。
NVAX vs RGEN — 直观对比
营收规模更大
RGEN
是对方的1.3倍
$147.3M
营收增速更快
NVAX
高出53.2%
13.6%
净利率更高
NVAX
高出5.2%
6.7%
自由现金流更多
RGEN
多$59.1M
$-41.6M
两年增速更快
NVAX
近两年复合增速
14.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $147.3M | $197.9M |
| 净利润 | $17.5M | $13.3M |
| 毛利率 | 85.0% | 52.5% |
| 营业利润率 | 9.7% | 9.0% |
| 净利率 | 11.9% | 6.7% |
| 营收同比 | 66.8% | 13.6% |
| 净利润同比 | 121.6% | 143.9% |
| 每股收益（稀释后） | $0.28 | $0.24 |
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NVAXRGEN
| Q4 25 | $147.3M | $197.9M | ||
| Q3 25 | $70.4M | $188.8M | ||
| Q2 25 | $239.2M | $182.4M | ||
| Q1 25 | $666.5M | $169.2M | ||
| Q4 24 | $88.3M | $174.1M | ||
| Q3 24 | $84.5M | $154.9M | ||
| Q2 24 | $415.5M | $154.1M | ||
| Q1 24 | $93.9M | $151.3M |
净利润NVAXRGEN
| Q4 25 | $17.5M | $13.3M | ||
| Q3 25 | $-202.4M | $14.9M | ||
| Q2 25 | $106.5M | $14.9M | ||
| Q1 25 | $518.6M | $5.8M | ||
| Q4 24 | — | $-30.3M | ||
| Q3 24 | $-121.3M | $-654.0K | ||
| Q2 24 | $162.4M | $3.3M | ||
| Q1 24 | $-147.6M | $2.1M |
毛利率NVAXRGEN
| Q4 25 | 85.0% | 52.5% | ||
| Q3 25 | 69.5% | 53.2% | ||
| Q2 25 | 93.6% | 50.0% | ||
| Q1 25 | 97.9% | 53.6% | ||
| Q4 24 | 58.5% | 26.1% | ||
| Q3 24 | 28.3% | 50.0% | ||
| Q2 24 | 88.9% | 49.8% | ||
| Q1 24 | 36.9% | 49.5% |
营业利润率NVAXRGEN
| Q4 25 | 9.7% | 9.0% | ||
| Q3 25 | -252.7% | 8.9% | ||
| Q2 25 | 42.2% | 7.6% | ||
| Q1 25 | 77.4% | 3.9% | ||
| Q4 24 | — | -17.7% | ||
| Q3 24 | -158.6% | -5.1% | ||
| Q2 24 | 38.7% | 1.0% | ||
| Q1 24 | -154.3% | 1.3% |
净利率NVAXRGEN
| Q4 25 | 11.9% | 6.7% | ||
| Q3 25 | -287.3% | 7.9% | ||
| Q2 25 | 44.5% | 8.2% | ||
| Q1 25 | 77.8% | 3.4% | ||
| Q4 24 | — | -17.4% | ||
| Q3 24 | -143.5% | -0.4% | ||
| Q2 24 | 39.1% | 2.2% | ||
| Q1 24 | -157.2% | 1.4% |
每股收益（稀释后）NVAXRGEN
| Q4 25 | $0.28 | $0.24 | ||
| Q3 25 | $-1.25 | $0.26 | ||
| Q2 25 | $0.62 | $0.26 | ||
| Q1 25 | $2.93 | $0.10 | ||
| Q4 24 | — | $-0.55 | ||
| Q3 24 | $-0.76 | $-0.01 | ||
| Q2 24 | $0.99 | $0.06 | ||
| Q1 24 | $-1.05 | $0.04 |
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 | $767.6M |
| 总债务越低越好 | — | $542.2M |
| 股东权益账面价值 | $-127.8M | $2.1B |
| 总资产 | $1.2B | $2.9B |
| 负债/权益比越低杠杆越低 | — | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资NVAXRGEN
| Q4 25 | $735.1M | $767.6M | ||
| Q3 25 | $762.9M | $748.7M | ||
| Q2 25 | $612.3M | $708.9M | ||
| Q1 25 | $731.5M | $697.2M | ||
| Q4 24 | $923.1M | $757.4M | ||
| Q3 24 | $909.5M | $784.0M | ||
| Q2 24 | $1.0B | $809.1M | ||
| Q1 24 | $480.6M | $780.6M |
总债务NVAXRGEN
| Q4 25 | — | $542.2M | ||
| Q3 25 | — | $537.9M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $525.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益NVAXRGEN
| Q4 25 | $-127.8M | $2.1B | ||
| Q3 25 | $-156.7M | $2.1B | ||
| Q2 25 | $37.6M | $2.1B | ||
| Q1 25 | $-75.6M | $2.0B | ||
| Q4 24 | $-623.8M | $2.0B | ||
| Q3 24 | $-526.4M | $2.0B | ||
| Q2 24 | $-431.7M | $2.0B | ||
| Q1 24 | $-867.1M | $2.0B |
总资产NVAXRGEN
| Q4 25 | $1.2B | $2.9B | ||
| Q3 25 | $1.2B | $2.9B | ||
| Q2 25 | $1.3B | $2.9B | ||
| Q1 25 | $1.3B | $2.9B | ||
| Q4 24 | $1.6B | $2.8B | ||
| Q3 24 | $1.7B | $2.8B | ||
| Q2 24 | $1.8B | $2.9B | ||
| Q1 24 | $1.4B | $2.8B |
负债/权益比NVAXRGEN
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $25.7M |
| 自由现金流经营现金流 - 资本支出 | $-41.6M | $17.6M |
| 自由现金流率自由现金流/营收 | -28.2% | 8.9% |
| 资本支出强度资本支出/营收 | 1.4% | 4.1% |
| 现金转化率经营现金流/净利润 | -2.25× | 1.93× |
| 过去12个月自由现金流最近4个季度 | $-250.2M | $93.9M |
8季度趋势，按日历期对齐
经营现金流NVAXRGEN
| Q4 25 | $-39.5M | $25.7M | ||
| Q3 25 | $107.8M | $48.1M | ||
| Q2 25 | $-127.5M | $28.6M | ||
| Q1 25 | $-185.5M | $15.0M | ||
| Q4 24 | $-87.3M | $39.2M | ||
| Q3 24 | $-144.8M | $49.3M | ||
| Q2 24 | $314.3M | $42.2M | ||
| Q1 24 | $-83.6M | $44.7M |
自由现金流NVAXRGEN
| Q4 25 | $-41.6M | $17.6M | ||
| Q3 25 | $105.8M | $43.4M | ||
| Q2 25 | $-127.7M | $21.5M | ||
| Q1 25 | $-186.7M | $11.4M | ||
| Q4 24 | $-100.3M | $33.6M | ||
| Q3 24 | $-146.2M | $42.3M | ||
| Q2 24 | $311.4M | $37.4M | ||
| Q1 24 | $-90.4M | $36.4M |
自由现金流率NVAXRGEN
| Q4 25 | -28.2% | 8.9% | ||
| Q3 25 | 150.2% | 23.0% | ||
| Q2 25 | -53.4% | 11.8% | ||
| Q1 25 | -28.0% | 6.8% | ||
| Q4 24 | -113.6% | 19.3% | ||
| Q3 24 | -173.0% | 27.3% | ||
| Q2 24 | 74.9% | 24.3% | ||
| Q1 24 | -96.4% | 24.0% |
资本支出强度NVAXRGEN
| Q4 25 | 1.4% | 4.1% | ||
| Q3 25 | 2.9% | 2.5% | ||
| Q2 25 | 0.1% | 3.9% | ||
| Q1 25 | 0.2% | 2.1% | ||
| Q4 24 | 14.8% | 3.2% | ||
| Q3 24 | 1.6% | 4.5% | ||
| Q2 24 | 0.7% | 3.1% | ||
| Q1 24 | 7.3% | 5.5% |
现金转化率NVAXRGEN
| Q4 25 | -2.25× | 1.93× | ||
| Q3 25 | — | 3.23× | ||
| Q2 25 | -1.20× | 1.92× | ||
| Q1 25 | -0.36× | 2.57× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.94× | 12.70× | ||
| Q1 24 | — | 21.35× |
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% |
RGEN
暂无分部数据
