vs
IMPINJ INC（PI）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
再鼎医药的季度营收约是IMPINJ INC的1.7倍（$127.1M vs $74.3M），再鼎医药同比增速更快（17.1% vs -0.0%），IMPINJ INC自由现金流更多（$2.2M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs -14.9%）
Impinj Inc.是一家美国射频识别（RFID）设备及软件提供商，成立于2000年，总部位于华盛顿州西雅图，源自加州理工学院Carver Mead与Chris Diorio的研究成果。公司主营EPC Class 1 Gen 2无源超高频RFID芯片、读写器、读写器芯片、天线，以及芯片编码、业务数据采集相关的软件应用，为各行业RFID应用提供全链路产品支持。
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。
PI vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.7倍
$74.3M
营收增速更快
ZLAB
高出17.2%
-0.0%
自由现金流更多
PI
多$28.9M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
-14.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $74.3M | $127.1M |
| 净利润 | $8.3M | — |
| 毛利率 | 49.1% | 51.0% |
| 营业利润率 | 30.5% | -54.6% |
| 净利率 | 11.2% | — |
| 营收同比 | -0.0% | 17.1% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.14 | $-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PIZLAB
| Q1 26 | $74.3M | — | ||
| Q4 25 | $92.8M | $127.1M | ||
| Q3 25 | $96.1M | $115.4M | ||
| Q2 25 | $97.9M | $109.1M | ||
| Q1 25 | $74.3M | $105.7M | ||
| Q4 24 | $91.6M | $108.5M | ||
| Q3 24 | $95.2M | $101.8M | ||
| Q2 24 | $102.5M | $100.1M |
净利润PIZLAB
| Q1 26 | $8.3M | — | ||
| Q4 25 | $-1.1M | — | ||
| Q3 25 | $-12.8M | $-36.0M | ||
| Q2 25 | $11.6M | $-40.7M | ||
| Q1 25 | $-8.5M | $-48.4M | ||
| Q4 24 | $-2.7M | — | ||
| Q3 24 | $221.0K | $-41.7M | ||
| Q2 24 | $10.0M | $-80.3M |
毛利率PIZLAB
| Q1 26 | 49.1% | — | ||
| Q4 25 | 51.8% | 51.0% | ||
| Q3 25 | 50.3% | 59.5% | ||
| Q2 25 | 57.8% | 60.6% | ||
| Q1 25 | 49.4% | 63.6% | ||
| Q4 24 | 50.5% | 61.5% | ||
| Q3 24 | 50.0% | 64.1% | ||
| Q2 24 | 56.1% | 64.9% |
营业利润率PIZLAB
| Q1 26 | 30.5% | — | ||
| Q4 25 | -2.9% | -54.6% | ||
| Q3 25 | 0.7% | -42.3% | ||
| Q2 25 | 11.1% | -50.3% | ||
| Q1 25 | -12.9% | -53.3% | ||
| Q4 24 | -3.9% | -62.6% | ||
| Q3 24 | -0.8% | -66.6% | ||
| Q2 24 | 8.8% | -76.0% |
净利率PIZLAB
| Q1 26 | 11.2% | — | ||
| Q4 25 | -1.2% | — | ||
| Q3 25 | -13.3% | -31.2% | ||
| Q2 25 | 11.8% | -37.3% | ||
| Q1 25 | -11.4% | -45.8% | ||
| Q4 24 | -2.9% | — | ||
| Q3 24 | 0.2% | -40.9% | ||
| Q2 24 | 9.7% | -80.2% |
每股收益（稀释后）PIZLAB
| Q1 26 | $0.14 | — | ||
| Q4 25 | $-0.02 | $-0.05 | ||
| Q3 25 | $-0.44 | $-0.03 | ||
| Q2 25 | $0.39 | $-0.04 | ||
| Q1 25 | $-0.30 | $-0.04 | ||
| Q4 24 | $-0.06 | $-0.09 | ||
| Q3 24 | $0.01 | $-0.04 | ||
| Q2 24 | $0.34 | $-0.08 |
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 | $131.8M | $689.6M |
| 总债务越低越好 | $241.5M | — |
| 股东权益账面价值 | — | $715.5M |
| 总资产 | $502.5M | $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PIZLAB
| Q1 26 | $131.8M | — | ||
| Q4 25 | $175.3M | $689.6M | ||
| Q3 25 | $190.1M | $717.2M | ||
| Q2 25 | $193.2M | $732.2M | ||
| Q1 25 | $147.9M | $757.3M | ||
| Q4 24 | $164.7M | $779.7M | ||
| Q3 24 | $170.3M | $616.1M | ||
| Q2 24 | $220.2M | $630.0M |
总债务PIZLAB
| Q1 26 | $241.5M | — | ||
| Q4 25 | $280.9M | — | ||
| Q3 25 | $280.4M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $283.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益PIZLAB
| Q1 26 | — | — | ||
| Q4 25 | $209.2M | $715.5M | ||
| Q3 25 | $195.0M | $759.9M | ||
| Q2 25 | $187.7M | $791.7M | ||
| Q1 25 | $160.6M | $810.8M | ||
| Q4 24 | $149.9M | $840.9M | ||
| Q3 24 | $136.1M | $667.7M | ||
| Q2 24 | $117.0M | $704.2M |
总资产PIZLAB
| Q1 26 | $502.5M | — | ||
| Q4 25 | $545.2M | $1.2B | ||
| Q3 25 | $516.5M | $1.2B | ||
| Q2 25 | $508.8M | $1.2B | ||
| Q1 25 | $479.8M | $1.2B | ||
| Q4 24 | $489.1M | $1.2B | ||
| Q3 24 | $476.4M | $985.3M | ||
| Q2 24 | $446.1M | $987.4M |
负债/权益比PIZLAB
| Q1 26 | — | — | ||
| Q4 25 | 1.34× | — | ||
| Q3 25 | 1.44× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.89× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $2.2M | $-26.7M |
| 自由现金流率自由现金流/营收 | 3.0% | -21.0% |
| 资本支出强度资本支出/营收 | — | 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 | $61.1M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流PIZLAB
| Q1 26 | — | — | ||
| Q4 25 | $15.1M | $-26.0M | ||
| Q3 25 | $20.9M | $-32.0M | ||
| Q2 25 | $33.9M | $-31.0M | ||
| Q1 25 | $-11.1M | $-61.7M | ||
| Q4 24 | $12.6M | $-55.8M | ||
| Q3 24 | $10.1M | $-26.8M | ||
| Q2 24 | $45.5M | $-42.2M |
自由现金流PIZLAB
| Q1 26 | $2.2M | — | ||
| Q4 25 | $13.6M | $-26.7M | ||
| Q3 25 | $18.0M | $-35.0M | ||
| Q2 25 | $27.3M | $-33.9M | ||
| Q1 25 | $-13.0M | $-63.2M | ||
| Q4 24 | $8.5M | $-58.4M | ||
| Q3 24 | $4.7M | $-28.2M | ||
| Q2 24 | $44.1M | $-42.9M |
自由现金流率PIZLAB
| Q1 26 | 3.0% | — | ||
| Q4 25 | 14.7% | -21.0% | ||
| Q3 25 | 18.7% | -30.4% | ||
| Q2 25 | 27.9% | -31.1% | ||
| Q1 25 | -17.5% | -59.9% | ||
| Q4 24 | 9.3% | -53.8% | ||
| Q3 24 | 4.9% | -27.7% | ||
| Q2 24 | 43.0% | -42.9% |
资本支出强度PIZLAB
| Q1 26 | — | — | ||
| Q4 25 | 1.6% | 0.5% | ||
| Q3 25 | 3.1% | 2.6% | ||
| Q2 25 | 6.7% | 2.6% | ||
| Q1 25 | 2.5% | 1.5% | ||
| Q4 24 | 4.5% | 2.4% | ||
| Q3 24 | 5.7% | 1.3% | ||
| Q2 24 | 1.3% | 0.7% |
现金转化率PIZLAB
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.93× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 45.56× | — | ||
| Q2 24 | 4.56× | — |
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
PI
暂无分部数据
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% |
