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Piedmont Realty Trust, Inc.（PDM）与Vericel Corp（VCEL）财务数据对比。点击上方公司名可切换其他公司
Piedmont Realty Trust, Inc.的季度营收约是Vericel Corp的1.5倍（$143.3M vs $92.9M），Vericel Corp净利率更高（25.0% vs -31.4%，领先56.4%），Vericel Corp同比增速更快（23.3% vs 0.4%），过去两年Vericel Corp的营收复合增速更高（34.6% vs 0.0%）
Piedmont Realty Trust是一家公开上市的房地产投资信托（REIT），主要持有、运营和投资美国高增长大都会区的优质写字楼资产，服务科技、专业服务、医疗等多个行业的企业租户，通过战略资产管理和投资组合优化为利益相关方提供稳定长期回报。
Vericel Corp是一家美国上市生物制药企业，前身为1989年在密歇根州安娜堡成立的Aastrom Bio，2014年10月正式更为现名，专注于生物制药相关领域的研发与商业化运营。
PDM vs VCEL — 直观对比
营收规模更大
PDM
是对方的1.5倍
$92.9M
营收增速更快
VCEL
高出22.8%
0.4%
净利率更高
VCEL
高出56.4%
-31.4%
两年增速更快
VCEL
近两年复合增速
0.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $143.3M | $92.9M |
| 净利润 | $-45.0M | $23.2M |
| 毛利率 | — | 78.7% |
| 营业利润率 | — | 24.1% |
| 净利率 | -31.4% | 25.0% |
| 营收同比 | 0.4% | 23.3% |
| 净利润同比 | -27.9% | 17.3% |
| 每股收益（稀释后） | $-0.10 | $0.46 |
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PDMVCEL
| Q1 26 | $143.3M | — | ||
| Q4 25 | $142.9M | $92.9M | ||
| Q3 25 | $139.2M | $67.5M | ||
| Q2 25 | $140.3M | $63.2M | ||
| Q1 25 | $142.7M | $52.6M | ||
| Q4 24 | $143.2M | $75.4M | ||
| Q3 24 | $139.3M | $57.9M | ||
| Q2 24 | $143.3M | $52.7M |
净利润PDMVCEL
| Q1 26 | $-45.0M | — | ||
| Q4 25 | $-43.2M | $23.2M | ||
| Q3 25 | $-13.5M | $5.1M | ||
| Q2 25 | $-16.8M | $-553.0K | ||
| Q1 25 | $-10.1M | $-11.2M | ||
| Q4 24 | $-30.0M | $19.8M | ||
| Q3 24 | $-11.5M | $-901.0K | ||
| Q2 24 | $-9.8M | $-4.7M |
毛利率PDMVCEL
| Q1 26 | — | — | ||
| Q4 25 | — | 78.7% | ||
| Q3 25 | — | 73.5% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 69.0% | ||
| Q4 24 | — | 77.6% | ||
| Q3 24 | — | 71.9% | ||
| Q2 24 | — | 69.5% |
营业利润率PDMVCEL
| Q1 26 | — | — | ||
| Q4 25 | — | 24.1% | ||
| Q3 25 | — | 5.1% | ||
| Q2 25 | — | -3.2% | ||
| Q1 25 | — | -24.3% | ||
| Q4 24 | — | 24.5% | ||
| Q3 24 | — | -4.3% | ||
| Q2 24 | — | -11.5% |
净利率PDMVCEL
| Q1 26 | -31.4% | — | ||
| Q4 25 | -30.3% | 25.0% | ||
| Q3 25 | -9.7% | 7.5% | ||
| Q2 25 | -12.0% | -0.9% | ||
| Q1 25 | -7.1% | -21.4% | ||
| Q4 24 | -20.9% | 26.3% | ||
| Q3 24 | -8.3% | -1.6% | ||
| Q2 24 | -6.8% | -8.9% |
每股收益（稀释后）PDMVCEL
| Q1 26 | $-0.10 | — | ||
| Q4 25 | $-0.34 | $0.46 | ||
| Q3 25 | $-0.11 | $0.10 | ||
| Q2 25 | $-0.14 | $-0.01 | ||
| Q1 25 | $-0.08 | $-0.23 | ||
| Q4 24 | $-0.25 | $0.40 | ||
| Q3 24 | $-0.09 | $-0.02 | ||
| Q2 24 | $-0.08 | $-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 | $2.3M | $137.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $354.6M |
| 总资产 | $4.0B | $488.0M |
| 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PDMVCEL
| Q1 26 | $2.3M | — | ||
| Q4 25 | $731.0K | $137.5M | ||
| Q3 25 | $3.0M | $135.4M | ||
| Q2 25 | $3.3M | $116.9M | ||
| Q1 25 | $2.9M | $112.9M | ||
| Q4 24 | $109.6M | $116.2M | ||
| Q3 24 | $133.6M | $101.7M | ||
| Q2 24 | $138.5M | $102.5M |
总债务PDMVCEL
| Q1 26 | — | — | ||
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.2B | — | ||
| Q2 24 | $2.2B | — |
股东权益PDMVCEL
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.5B | $354.6M | ||
| Q3 25 | $1.5B | $321.9M | ||
| Q2 25 | $1.5B | $306.8M | ||
| Q1 25 | $1.6B | $295.5M | ||
| Q4 24 | $1.6B | $292.0M | ||
| Q3 24 | $1.6B | $257.5M | ||
| Q2 24 | $1.7B | $243.0M |
总资产PDMVCEL
| Q1 26 | $4.0B | — | ||
| Q4 25 | $4.0B | $488.0M | ||
| Q3 25 | $4.0B | $453.3M | ||
| Q2 25 | $4.0B | $435.6M | ||
| Q1 25 | $4.0B | $424.6M | ||
| Q4 24 | $4.1B | $432.7M | ||
| Q3 24 | $4.1B | $390.4M | ||
| Q2 24 | $4.2B | $376.8M |
负债/权益比PDMVCEL
| Q1 26 | — | — | ||
| Q4 25 | 1.49× | — | ||
| Q3 25 | 1.43× | — | ||
| Q2 25 | 1.41× | — | ||
| Q1 25 | 1.40× | — | ||
| Q4 24 | 1.40× | — | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 1.34× | — |
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 | — | $15.0M |
| 自由现金流经营现金流 - 资本支出 | — | $12.8M |
| 自由现金流率自由现金流/营收 | — | 13.8% |
| 资本支出强度资本支出/营收 | 110.3% | 2.4% |
| 现金转化率经营现金流/净利润 | — | 0.65× |
| 过去12个月自由现金流最近4个季度 | — | $24.7M |
8季度趋势，按日历期对齐
经营现金流PDMVCEL
| Q1 26 | — | — | ||
| Q4 25 | $140.6M | $15.0M | ||
| Q3 25 | $35.8M | $22.1M | ||
| Q2 25 | $50.1M | $8.2M | ||
| Q1 25 | $3.7M | $6.6M | ||
| Q4 24 | $198.1M | $22.2M | ||
| Q3 24 | $42.9M | $10.2M | ||
| Q2 24 | $66.8M | $18.5M |
自由现金流PDMVCEL
| Q1 26 | — | — | ||
| Q4 25 | — | $12.8M | ||
| Q3 25 | — | $19.5M | ||
| Q2 25 | — | $81.0K | ||
| Q1 25 | — | $-7.6M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | — | $-9.2M | ||
| Q2 24 | — | $1.8M |
自由现金流率PDMVCEL
| Q1 26 | — | — | ||
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | -14.5% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | -15.9% | ||
| Q2 24 | — | 3.4% |
资本支出强度PDMVCEL
| Q1 26 | 110.3% | — | ||
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 27.0% | ||
| Q4 24 | — | 18.3% | ||
| Q3 24 | — | 33.5% | ||
| Q2 24 | — | 31.8% |
现金转化率PDMVCEL
| Q1 26 | — | — | ||
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | — | ||
| Q2 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
PDM
暂无分部数据
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
