vs
ONESPAWORLD HOLDINGS Ltd（OSW）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
ONESPAWORLD HOLDINGS Ltd的季度营收约是再鼎医药的1.9倍（$242.1M vs $127.1M），再鼎医药同比增速更快（17.1% vs 11.5%），ONESPAWORLD HOLDINGS Ltd自由现金流更多（$14.9M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 7.1%）
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。
OSW vs ZLAB — 直观对比
营收规模更大
OSW
是对方的1.9倍
$127.1M
营收增速更快
ZLAB
高出5.6%
11.5%
自由现金流更多
OSW
多$41.6M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
7.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $242.1M | $127.1M |
| 净利润 | $12.1M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | 6.8% | -54.6% |
| 净利率 | 5.0% | — |
| 营收同比 | 11.5% | 17.1% |
| 净利润同比 | -16.2% | — |
| 每股收益（稀释后） | $0.12 | $-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OSWZLAB
| Q4 25 | $242.1M | $127.1M | ||
| Q3 25 | $258.5M | $115.4M | ||
| Q2 25 | $240.7M | $109.1M | ||
| Q1 25 | $219.6M | $105.7M | ||
| Q4 24 | $217.2M | $108.5M | ||
| Q3 24 | $241.7M | $101.8M | ||
| Q2 24 | $224.9M | $100.1M | ||
| Q1 24 | $211.2M | $87.1M |
净利润OSWZLAB
| Q4 25 | $12.1M | — | ||
| Q3 25 | $24.3M | $-36.0M | ||
| Q2 25 | $19.9M | $-40.7M | ||
| Q1 25 | $15.3M | $-48.4M | ||
| Q4 24 | $14.4M | — | ||
| Q3 24 | $21.6M | $-41.7M | ||
| Q2 24 | $15.8M | $-80.3M | ||
| Q1 24 | $21.2M | $-53.5M |
毛利率OSWZLAB
| 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OSWZLAB
| Q4 25 | 6.8% | -54.6% | ||
| Q3 25 | 10.2% | -42.3% | ||
| Q2 25 | 9.2% | -50.3% | ||
| Q1 25 | 7.7% | -53.3% | ||
| Q4 24 | 7.9% | -62.6% | ||
| Q3 24 | 10.3% | -66.6% | ||
| Q2 24 | 8.4% | -76.0% | ||
| Q1 24 | 8.0% | -80.7% |
净利率OSWZLAB
| Q4 25 | 5.0% | — | ||
| Q3 25 | 9.4% | -31.2% | ||
| Q2 25 | 8.3% | -37.3% | ||
| Q1 25 | 7.0% | -45.8% | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 8.9% | -40.9% | ||
| Q2 24 | 7.0% | -80.2% | ||
| Q1 24 | 10.0% | -61.4% |
每股收益（稀释后）OSWZLAB
| Q4 25 | $0.12 | $-0.05 | ||
| Q3 25 | $0.23 | $-0.03 | ||
| Q2 25 | $0.19 | $-0.04 | ||
| Q1 25 | $0.15 | $-0.04 | ||
| Q4 24 | $0.13 | $-0.09 | ||
| Q3 24 | $0.20 | $-0.04 | ||
| Q2 24 | $0.15 | $-0.08 | ||
| Q1 24 | $0.21 | $-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 | $16.3M | $689.6M |
| 总债务越低越好 | $84.0M | — |
| 股东权益账面价值 | $542.6M | $715.5M |
| 总资产 | $707.1M | $1.2B |
| 负债/权益比越低杠杆越低 | 0.15× | — |
8季度趋势，按日历期对齐
现金及短期投资OSWZLAB
| Q4 25 | $16.3M | $689.6M | ||
| Q3 25 | $29.6M | $717.2M | ||
| Q2 25 | $35.0M | $732.2M | ||
| Q1 25 | $22.6M | $757.3M | ||
| Q4 24 | $57.4M | $779.7M | ||
| Q3 24 | $48.8M | $616.1M | ||
| Q2 24 | $62.5M | $630.0M | ||
| Q1 24 | $65.4M | $650.8M |
总债务OSWZLAB
| Q4 25 | $84.0M | — | ||
| Q3 25 | $85.2M | — | ||
| Q2 25 | $96.2M | — | ||
| Q1 25 | $97.4M | — | ||
| Q4 24 | $98.6M | — | ||
| Q3 24 | $98.7M | — | ||
| Q2 24 | $123.8M | — | ||
| Q1 24 | $138.6M | — |
股东权益OSWZLAB
| Q4 25 | $542.6M | $715.5M | ||
| Q3 25 | $552.8M | $759.9M | ||
| Q2 25 | $548.3M | $791.7M | ||
| Q1 25 | $530.6M | $810.8M | ||
| Q4 24 | $554.5M | $840.9M | ||
| Q3 24 | $540.1M | $667.7M | ||
| Q2 24 | $532.7M | $704.2M | ||
| Q1 24 | $515.5M | $762.2M |
总资产OSWZLAB
| Q4 25 | $707.1M | $1.2B | ||
| Q3 25 | $732.6M | $1.2B | ||
| Q2 25 | $731.8M | $1.2B | ||
| Q1 25 | $708.7M | $1.2B | ||
| Q4 24 | $746.4M | $1.2B | ||
| Q3 24 | $734.0M | $985.3M | ||
| Q2 24 | $756.8M | $987.4M | ||
| Q1 24 | $763.6M | $988.4M |
负债/权益比OSWZLAB
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 0.18× | — | ||
| Q1 25 | 0.18× | — | ||
| Q4 24 | 0.18× | — | ||
| Q3 24 | 0.18× | — | ||
| Q2 24 | 0.23× | — | ||
| Q1 24 | 0.27× | — |
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 | $20.0M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $14.9M | $-26.7M |
| 自由现金流率自由现金流/营收 | 6.2% | -21.0% |
| 资本支出强度资本支出/营收 | 2.1% | 0.5% |
| 现金转化率经营现金流/净利润 | 1.65× | — |
| 过去12个月自由现金流最近4个季度 | $68.4M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流OSWZLAB
| Q4 25 | $20.0M | $-26.0M | ||
| Q3 25 | $33.2M | $-32.0M | ||
| Q2 25 | $20.3M | $-31.0M | ||
| Q1 25 | $10.1M | $-61.7M | ||
| Q4 24 | $16.6M | $-55.8M | ||
| Q3 24 | $28.6M | $-26.8M | ||
| Q2 24 | $18.7M | $-42.2M | ||
| Q1 24 | $15.0M | $-90.1M |
自由现金流OSWZLAB
| Q4 25 | $14.9M | $-26.7M | ||
| Q3 25 | $27.6M | $-35.0M | ||
| Q2 25 | $17.6M | $-33.9M | ||
| Q1 25 | $8.4M | $-63.2M | ||
| Q4 24 | $13.2M | $-58.4M | ||
| Q3 24 | $27.5M | $-28.2M | ||
| Q2 24 | $17.6M | $-42.9M | ||
| Q1 24 | $13.7M | $-91.1M |
自由现金流率OSWZLAB
| Q4 25 | 6.2% | -21.0% | ||
| Q3 25 | 10.7% | -30.4% | ||
| Q2 25 | 7.3% | -31.1% | ||
| Q1 25 | 3.8% | -59.9% | ||
| Q4 24 | 6.1% | -53.8% | ||
| Q3 24 | 11.4% | -27.7% | ||
| Q2 24 | 7.8% | -42.9% | ||
| Q1 24 | 6.5% | -104.5% |
资本支出强度OSWZLAB
| Q4 25 | 2.1% | 0.5% | ||
| Q3 25 | 2.2% | 2.6% | ||
| Q2 25 | 1.1% | 2.6% | ||
| Q1 25 | 0.8% | 1.5% | ||
| Q4 24 | 1.5% | 2.4% | ||
| Q3 24 | 0.5% | 1.3% | ||
| Q2 24 | 0.5% | 0.7% | ||
| Q1 24 | 0.6% | 1.1% |
现金转化率OSWZLAB
| Q4 25 | 1.65× | — | ||
| Q3 25 | 1.36× | — | ||
| Q2 25 | 1.02× | — | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 1.15× | — | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 1.19× | — | ||
| Q1 24 | 0.71× | — |
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
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
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% |
