vs
通用动力（PLOW）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
通用动力的季度营收约是再鼎医药的1.5倍（$184.5M vs $127.1M），通用动力同比增速更快（28.6% vs 17.1%），通用动力自由现金流更多（$92.8M vs $-26.7M），过去两年通用动力的营收复合增速更高（38.9% vs 20.8%）
通用动力公司是总部位于美国弗吉尼亚州雷斯顿的工业与科技企业，核心业务是研发制造各类先进军用装备，产品包括核潜艇、主战坦克、装甲战车等，同时也生产民用湾流公务机，并提供信息技术服务，是美国联邦政府前五大国防承包商之一。
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。
PLOW vs ZLAB — 直观对比
营收规模更大
PLOW
是对方的1.5倍
$127.1M
营收增速更快
PLOW
高出11.4%
17.1%
自由现金流更多
PLOW
多$119.5M
$-26.7M
两年增速更快
PLOW
近两年复合增速
20.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $184.5M | $127.1M |
| 净利润 | $12.8M | — |
| 毛利率 | 26.1% | 51.0% |
| 营业利润率 | 10.5% | -54.6% |
| 净利率 | 7.0% | — |
| 营收同比 | 28.6% | 17.1% |
| 净利润同比 | 62.3% | — |
| 每股收益（稀释后） | $0.54 | $-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PLOWZLAB
| Q4 25 | $184.5M | $127.1M | ||
| Q3 25 | $162.1M | $115.4M | ||
| Q2 25 | $194.3M | $109.1M | ||
| Q1 25 | $115.1M | $105.7M | ||
| Q4 24 | $143.5M | $108.5M | ||
| Q3 24 | $129.4M | $101.8M | ||
| Q2 24 | $199.9M | $100.1M | ||
| Q1 24 | $95.7M | $87.1M |
净利润PLOWZLAB
| Q4 25 | $12.8M | — | ||
| Q3 25 | $8.0M | $-36.0M | ||
| Q2 25 | $26.0M | $-40.7M | ||
| Q1 25 | $148.0K | $-48.4M | ||
| Q4 24 | $7.9M | — | ||
| Q3 24 | $32.3M | $-41.7M | ||
| Q2 24 | $24.3M | $-80.3M | ||
| Q1 24 | $-8.4M | $-53.5M |
毛利率PLOWZLAB
| Q4 25 | 26.1% | 51.0% | ||
| Q3 25 | 23.5% | 59.5% | ||
| Q2 25 | 31.0% | 60.6% | ||
| Q1 25 | 24.5% | 63.6% | ||
| Q4 24 | 24.9% | 61.5% | ||
| Q3 24 | 23.9% | 64.1% | ||
| Q2 24 | 30.7% | 64.9% | ||
| Q1 24 | 19.8% | 61.4% |
营业利润率PLOWZLAB
| Q4 25 | 10.5% | -54.6% | ||
| Q3 25 | 8.7% | -42.3% | ||
| Q2 25 | 19.0% | -50.3% | ||
| Q1 25 | 2.8% | -53.3% | ||
| Q4 24 | 9.0% | -62.6% | ||
| Q3 24 | 35.4% | -66.6% | ||
| Q2 24 | 18.2% | -76.0% | ||
| Q1 24 | -6.7% | -80.7% |
净利率PLOWZLAB
| Q4 25 | 7.0% | — | ||
| Q3 25 | 4.9% | -31.2% | ||
| Q2 25 | 13.4% | -37.3% | ||
| Q1 25 | 0.1% | -45.8% | ||
| Q4 24 | 5.5% | — | ||
| Q3 24 | 24.9% | -40.9% | ||
| Q2 24 | 12.2% | -80.2% | ||
| Q1 24 | -8.7% | -61.4% |
每股收益（稀释后）PLOWZLAB
| Q4 25 | $0.54 | $-0.05 | ||
| Q3 25 | $0.33 | $-0.03 | ||
| Q2 25 | $1.09 | $-0.04 | ||
| Q1 25 | $0.00 | $-0.04 | ||
| Q4 24 | $0.35 | $-0.09 | ||
| Q3 24 | $1.36 | $-0.04 | ||
| Q2 24 | $1.02 | $-0.08 | ||
| Q1 24 | $-0.37 | $-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 | — | $689.6M |
| 总债务越低越好 | $144.0M | — |
| 股东权益账面价值 | $281.4M | $715.5M |
| 总资产 | $626.7M | $1.2B |
| 负债/权益比越低杠杆越低 | 0.51× | — |
8季度趋势，按日历期对齐
现金及短期投资PLOWZLAB
| Q4 25 | — | $689.6M | ||
| Q3 25 | — | $717.2M | ||
| Q2 25 | — | $732.2M | ||
| Q1 25 | — | $757.3M | ||
| Q4 24 | — | $779.7M | ||
| Q3 24 | — | $616.1M | ||
| Q2 24 | — | $630.0M | ||
| Q1 24 | — | $650.8M |
总债务PLOWZLAB
| Q4 25 | $144.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $147.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益PLOWZLAB
| Q4 25 | $281.4M | $715.5M | ||
| Q3 25 | $275.3M | $759.9M | ||
| Q2 25 | $273.3M | $791.7M | ||
| Q1 25 | $258.9M | $810.8M | ||
| Q4 24 | $264.2M | $840.9M | ||
| Q3 24 | $260.8M | $667.7M | ||
| Q2 24 | $236.7M | $704.2M | ||
| Q1 24 | $217.2M | $762.2M |
总资产PLOWZLAB
| Q4 25 | $626.7M | $1.2B | ||
| Q3 25 | $694.9M | $1.2B | ||
| Q2 25 | $671.5M | $1.2B | ||
| Q1 25 | $621.0M | $1.2B | ||
| Q4 24 | $590.0M | $1.2B | ||
| Q3 24 | $665.6M | $985.3M | ||
| Q2 24 | $617.0M | $987.4M | ||
| Q1 24 | $577.1M | $988.4M |
负债/权益比PLOWZLAB
| Q4 25 | 0.51× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.56× | — | ||
| 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 | $95.9M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $92.8M | $-26.7M |
| 自由现金流率自由现金流/营收 | 50.3% | -21.0% |
| 资本支出强度资本支出/营收 | 1.7% | 0.5% |
| 现金转化率经营现金流/净利润 | 7.47× | — |
| 过去12个月自由现金流最近4个季度 | $63.6M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流PLOWZLAB
| Q4 25 | $95.9M | $-26.0M | ||
| Q3 25 | $-8.5M | $-32.0M | ||
| Q2 25 | $-11.4M | $-31.0M | ||
| Q1 25 | $-1.3M | $-61.7M | ||
| Q4 24 | $74.4M | $-55.8M | ||
| Q3 24 | $-14.2M | $-26.8M | ||
| Q2 24 | $2.5M | $-42.2M | ||
| Q1 24 | $-21.6M | $-90.1M |
自由现金流PLOWZLAB
| Q4 25 | $92.8M | $-26.7M | ||
| Q3 25 | $-11.4M | $-35.0M | ||
| Q2 25 | $-14.3M | $-33.9M | ||
| Q1 25 | $-3.5M | $-63.2M | ||
| Q4 24 | $70.2M | $-58.4M | ||
| Q3 24 | $-15.2M | $-28.2M | ||
| Q2 24 | $836.0K | $-42.9M | ||
| Q1 24 | $-22.4M | $-91.1M |
自由现金流率PLOWZLAB
| Q4 25 | 50.3% | -21.0% | ||
| Q3 25 | -7.1% | -30.4% | ||
| Q2 25 | -7.4% | -31.1% | ||
| Q1 25 | -3.0% | -59.9% | ||
| Q4 24 | 48.9% | -53.8% | ||
| Q3 24 | -11.8% | -27.7% | ||
| Q2 24 | 0.4% | -42.9% | ||
| Q1 24 | -23.4% | -104.5% |
资本支出强度PLOWZLAB
| Q4 25 | 1.7% | 0.5% | ||
| Q3 25 | 1.8% | 2.6% | ||
| Q2 25 | 1.5% | 2.6% | ||
| Q1 25 | 1.9% | 1.5% | ||
| Q4 24 | 2.9% | 2.4% | ||
| Q3 24 | 0.8% | 1.3% | ||
| Q2 24 | 0.8% | 0.7% | ||
| Q1 24 | 0.8% | 1.1% |
现金转化率PLOWZLAB
| Q4 25 | 7.47× | — | ||
| Q3 25 | -1.07× | — | ||
| Q2 25 | -0.44× | — | ||
| Q1 25 | -9.03× | — | ||
| Q4 24 | 9.41× | — | ||
| Q3 24 | -0.44× | — | ||
| Q2 24 | 0.10× | — | ||
| Q1 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
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
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% |
