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PAMT CORP（PAMT）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
PAMT CORP的季度营收约是再鼎医药的1.1倍（$141.3M vs $127.1M），再鼎医药同比增速更快（17.1% vs -15.1%），PAMT CORP自由现金流更多（$-25.0M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs -12.0%）
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。
PAMT vs ZLAB — 直观对比
营收规模更大
PAMT
是对方的1.1倍
$127.1M
营收增速更快
ZLAB
高出32.3%
-15.1%
自由现金流更多
PAMT
多$1.7M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
-12.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $141.3M | $127.1M |
| 净利润 | $-29.3M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | -27.0% | -54.6% |
| 净利率 | -20.7% | — |
| 营收同比 | -15.1% | 17.1% |
| 净利润同比 | 7.4% | — |
| 每股收益（稀释后） | $-1.38 | $-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PAMTZLAB
| Q4 25 | $141.3M | $127.1M | ||
| Q3 25 | $150.3M | $115.4M | ||
| Q2 25 | $151.1M | $109.1M | ||
| Q1 25 | $155.3M | $105.7M | ||
| Q4 24 | $166.5M | $108.5M | ||
| Q3 24 | $182.6M | $101.8M | ||
| Q2 24 | $182.9M | $100.1M | ||
| Q1 24 | $182.6M | $87.1M |
净利润PAMTZLAB
| Q4 25 | $-29.3M | — | ||
| Q3 25 | $-5.6M | $-36.0M | ||
| Q2 25 | $-9.6M | $-40.7M | ||
| Q1 25 | $-8.1M | $-48.4M | ||
| Q4 24 | $-31.6M | — | ||
| Q3 24 | $2.4M | $-41.7M | ||
| Q2 24 | $-2.9M | $-80.3M | ||
| Q1 24 | $281.0K | $-53.5M |
毛利率PAMTZLAB
| 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PAMTZLAB
| Q4 25 | -27.0% | -54.6% | ||
| Q3 25 | -3.8% | -42.3% | ||
| Q2 25 | -7.3% | -50.3% | ||
| Q1 25 | -5.9% | -53.3% | ||
| Q4 24 | -22.6% | -62.6% | ||
| Q3 24 | 1.3% | -66.6% | ||
| Q2 24 | -0.4% | -76.0% | ||
| Q1 24 | -0.4% | -80.7% |
净利率PAMTZLAB
| Q4 25 | -20.7% | — | ||
| Q3 25 | -3.7% | -31.2% | ||
| Q2 25 | -6.4% | -37.3% | ||
| Q1 25 | -5.2% | -45.8% | ||
| Q4 24 | -19.0% | — | ||
| Q3 24 | 1.3% | -40.9% | ||
| Q2 24 | -1.6% | -80.2% | ||
| Q1 24 | 0.2% | -61.4% |
每股收益（稀释后）PAMTZLAB
| Q4 25 | $-1.38 | $-0.05 | ||
| Q3 25 | $-0.27 | $-0.03 | ||
| Q2 25 | $-0.46 | $-0.04 | ||
| Q1 25 | $-0.37 | $-0.04 | ||
| Q4 24 | $-1.44 | $-0.09 | ||
| Q3 24 | $0.11 | $-0.04 | ||
| Q2 24 | $-0.13 | $-0.08 | ||
| Q1 24 | $0.01 | $-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 | $83.7M | $689.6M |
| 总债务越低越好 | $333.9M | — |
| 股东权益账面价值 | $210.5M | $715.5M |
| 总资产 | $697.9M | $1.2B |
| 负债/权益比越低杠杆越低 | 1.59× | — |
8季度趋势，按日历期对齐
现金及短期投资PAMTZLAB
| Q4 25 | $83.7M | $689.6M | ||
| Q3 25 | $115.6M | $717.2M | ||
| Q2 25 | $117.3M | $732.2M | ||
| Q1 25 | $102.7M | $757.3M | ||
| Q4 24 | $110.7M | $779.7M | ||
| Q3 24 | $92.3M | $616.1M | ||
| Q2 24 | $114.0M | $630.0M | ||
| Q1 24 | $125.8M | $650.8M |
总债务PAMTZLAB
| Q4 25 | $333.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $325.6M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益PAMTZLAB
| Q4 25 | $210.5M | $715.5M | ||
| Q3 25 | $239.5M | $759.9M | ||
| Q2 25 | $244.9M | $791.7M | ||
| Q1 25 | $269.6M | $810.8M | ||
| Q4 24 | $277.5M | $840.9M | ||
| Q3 24 | $308.9M | $667.7M | ||
| Q2 24 | $306.7M | $704.2M | ||
| Q1 24 | $314.6M | $762.2M |
总资产PAMTZLAB
| Q4 25 | $697.9M | $1.2B | ||
| Q3 25 | $715.2M | $1.2B | ||
| Q2 25 | $707.9M | $1.2B | ||
| Q1 25 | $712.6M | $1.2B | ||
| Q4 24 | $741.7M | $1.2B | ||
| Q3 24 | $756.7M | $985.3M | ||
| Q2 24 | $733.5M | $987.4M | ||
| Q1 24 | $746.4M | $988.4M |
负债/权益比PAMTZLAB
| Q4 25 | 1.59× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.17× | — | ||
| 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 | $-5.8M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-25.0M | $-26.7M |
| 自由现金流率自由现金流/营收 | -17.7% | -21.0% |
| 资本支出强度资本支出/营收 | 13.6% | 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 | $-23.4M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流PAMTZLAB
| Q4 25 | $-5.8M | $-26.0M | ||
| Q3 25 | $5.9M | $-32.0M | ||
| Q2 25 | $12.2M | $-31.0M | ||
| Q1 25 | $5.0M | $-61.7M | ||
| Q4 24 | $15.2M | $-55.8M | ||
| Q3 24 | $15.5M | $-26.8M | ||
| Q2 24 | $18.7M | $-42.2M | ||
| Q1 24 | $9.6M | $-90.1M |
自由现金流PAMTZLAB
| Q4 25 | $-25.0M | $-26.7M | ||
| Q3 25 | $2.5M | $-35.0M | ||
| Q2 25 | $5.9M | $-33.9M | ||
| Q1 25 | $-6.8M | $-63.2M | ||
| Q4 24 | $-39.9M | $-58.4M | ||
| Q3 24 | $-33.6M | $-28.2M | ||
| Q2 24 | $4.1M | $-42.9M | ||
| Q1 24 | $-12.2M | $-91.1M |
自由现金流率PAMTZLAB
| Q4 25 | -17.7% | -21.0% | ||
| Q3 25 | 1.7% | -30.4% | ||
| Q2 25 | 3.9% | -31.1% | ||
| Q1 25 | -4.4% | -59.9% | ||
| Q4 24 | -24.0% | -53.8% | ||
| Q3 24 | -18.4% | -27.7% | ||
| Q2 24 | 2.2% | -42.9% | ||
| Q1 24 | -6.7% | -104.5% |
资本支出强度PAMTZLAB
| Q4 25 | 13.6% | 0.5% | ||
| Q3 25 | 2.3% | 2.6% | ||
| Q2 25 | 4.2% | 2.6% | ||
| Q1 25 | 7.6% | 1.5% | ||
| Q4 24 | 33.1% | 2.4% | ||
| Q3 24 | 26.9% | 1.3% | ||
| Q2 24 | 8.0% | 0.7% | ||
| Q1 24 | 12.0% | 1.1% |
现金转化率PAMTZLAB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 6.44× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 34.11× | — |
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
PAMT
| Freight Transportation Service | $123.1M | 87% |
| Fuel Surcharge | $18.2M | 13% |
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% |
