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CPI Card Group Inc.（PMTS）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
CPI Card Group Inc.的季度营收约是再鼎医药的1.2倍（$153.1M vs $127.1M），CPI Card Group Inc.同比增速更快（22.3% vs 17.1%），CPI Card Group Inc.自由现金流更多（$35.2M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 16.9%）
CPI Card Group Inc.是知名的支付卡生产及配套解决方案供应商，主营接触式、非接触式信用卡、借记卡、预付卡的制造与个性化定制服务，客户以北美地区的金融机构、金融科技企业及零售品牌为主。
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。
PMTS vs ZLAB — 直观对比
营收规模更大
PMTS
是对方的1.2倍
$127.1M
营收增速更快
PMTS
高出5.2%
17.1%
自由现金流更多
PMTS
多$61.9M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
16.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $153.1M | $127.1M |
| 净利润 | $7.3M | — |
| 毛利率 | 31.5% | 51.0% |
| 营业利润率 | 12.0% | -54.6% |
| 净利率 | 4.8% | — |
| 营收同比 | 22.3% | 17.1% |
| 净利润同比 | 8.5% | — |
| 每股收益（稀释后） | $0.62 | $-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PMTSZLAB
| Q4 25 | $153.1M | $127.1M | ||
| Q3 25 | $138.0M | $115.4M | ||
| Q2 25 | $129.8M | $109.1M | ||
| Q1 25 | $122.8M | $105.7M | ||
| Q4 24 | $125.1M | $108.5M | ||
| Q3 24 | $124.8M | $101.8M | ||
| Q2 24 | $118.8M | $100.1M | ||
| Q1 24 | $111.9M | $87.1M |
净利润PMTSZLAB
| Q4 25 | $7.3M | — | ||
| Q3 25 | $2.3M | $-36.0M | ||
| Q2 25 | $518.0K | $-40.7M | ||
| Q1 25 | $4.8M | $-48.4M | ||
| Q4 24 | $6.8M | — | ||
| Q3 24 | $1.3M | $-41.7M | ||
| Q2 24 | $6.0M | $-80.3M | ||
| Q1 24 | $5.5M | $-53.5M |
毛利率PMTSZLAB
| Q4 25 | 31.5% | 51.0% | ||
| Q3 25 | 29.7% | 59.5% | ||
| Q2 25 | 30.9% | 60.6% | ||
| Q1 25 | 33.2% | 63.6% | ||
| Q4 24 | 34.1% | 61.5% | ||
| Q3 24 | 35.8% | 64.1% | ||
| Q2 24 | 35.7% | 64.9% | ||
| Q1 24 | 37.1% | 61.4% |
营业利润率PMTSZLAB
| Q4 25 | 12.0% | -54.6% | ||
| Q3 25 | 9.4% | -42.3% | ||
| Q2 25 | 7.3% | -50.3% | ||
| Q1 25 | 11.5% | -53.3% | ||
| Q4 24 | 12.7% | -62.6% | ||
| Q3 24 | 14.3% | -66.6% | ||
| Q2 24 | 12.5% | -76.0% | ||
| Q1 24 | 12.6% | -80.7% |
净利率PMTSZLAB
| Q4 25 | 4.8% | — | ||
| Q3 25 | 1.7% | -31.2% | ||
| Q2 25 | 0.4% | -37.3% | ||
| Q1 25 | 3.9% | -45.8% | ||
| Q4 24 | 5.4% | — | ||
| Q3 24 | 1.0% | -40.9% | ||
| Q2 24 | 5.1% | -80.2% | ||
| Q1 24 | 4.9% | -61.4% |
每股收益（稀释后）PMTSZLAB
| Q4 25 | $0.62 | $-0.05 | ||
| Q3 25 | $0.19 | $-0.03 | ||
| Q2 25 | $0.04 | $-0.04 | ||
| Q1 25 | $0.40 | $-0.04 | ||
| Q4 24 | $0.56 | $-0.09 | ||
| Q3 24 | $0.11 | $-0.04 | ||
| Q2 24 | $0.51 | $-0.08 | ||
| Q1 24 | $0.46 | $-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 | $21.7M | $689.6M |
| 总债务越低越好 | $286.7M | — |
| 股东权益账面价值 | $-17.3M | $715.5M |
| 总资产 | $403.2M | $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PMTSZLAB
| Q4 25 | $21.7M | $689.6M | ||
| Q3 25 | $16.0M | $717.2M | ||
| Q2 25 | $17.1M | $732.2M | ||
| Q1 25 | $31.5M | $757.3M | ||
| Q4 24 | $33.5M | $779.7M | ||
| Q3 24 | $14.7M | $616.1M | ||
| Q2 24 | $7.5M | $630.0M | ||
| Q1 24 | $17.1M | $650.8M |
总债务PMTSZLAB
| Q4 25 | $286.7M | — | ||
| Q3 25 | $308.4M | — | ||
| Q2 25 | $310.9M | — | ||
| Q1 25 | $280.7M | — | ||
| Q4 24 | $280.4M | — | ||
| Q3 24 | $280.2M | — | ||
| Q2 24 | $269.7M | — | ||
| Q1 24 | $265.3M | — |
股东权益PMTSZLAB
| Q4 25 | $-17.3M | $715.5M | ||
| Q3 25 | $-25.7M | $759.9M | ||
| Q2 25 | $-29.0M | $791.7M | ||
| Q1 25 | $-29.7M | $810.8M | ||
| Q4 24 | $-35.6M | $840.9M | ||
| Q3 24 | $-42.8M | $667.7M | ||
| Q2 24 | $-44.6M | $704.2M | ||
| Q1 24 | $-48.5M | $762.2M |
总资产PMTSZLAB
| Q4 25 | $403.2M | $1.2B | ||
| Q3 25 | $407.1M | $1.2B | ||
| Q2 25 | $399.8M | $1.2B | ||
| Q1 25 | $351.9M | $1.2B | ||
| Q4 24 | $349.7M | $1.2B | ||
| Q3 24 | $342.3M | $985.3M | ||
| Q2 24 | $321.4M | $987.4M | ||
| Q1 24 | $319.8M | $988.4M |
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 | $39.6M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $35.2M | $-26.7M |
| 自由现金流率自由现金流/营收 | 23.0% | -21.0% |
| 资本支出强度资本支出/营收 | 2.9% | 0.5% |
| 现金转化率经营现金流/净利润 | 5.39× | — |
| 过去12个月自由现金流最近4个季度 | $41.3M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流PMTSZLAB
| Q4 25 | $39.6M | $-26.0M | ||
| Q3 25 | $10.0M | $-32.0M | ||
| Q2 25 | $4.3M | $-31.0M | ||
| Q1 25 | $5.6M | $-61.7M | ||
| Q4 24 | $26.7M | $-55.8M | ||
| Q3 24 | $12.5M | $-26.8M | ||
| Q2 24 | $-4.8M | $-42.2M | ||
| Q1 24 | $8.9M | $-90.1M |
自由现金流PMTSZLAB
| Q4 25 | $35.2M | $-26.7M | ||
| Q3 25 | $5.3M | $-35.0M | ||
| Q2 25 | $533.0K | $-33.9M | ||
| Q1 25 | $292.0K | $-63.2M | ||
| Q4 24 | $21.6M | $-58.4M | ||
| Q3 24 | $11.1M | $-28.2M | ||
| Q2 24 | $-6.0M | $-42.9M | ||
| Q1 24 | $7.4M | $-91.1M |
自由现金流率PMTSZLAB
| Q4 25 | 23.0% | -21.0% | ||
| Q3 25 | 3.8% | -30.4% | ||
| Q2 25 | 0.4% | -31.1% | ||
| Q1 25 | 0.2% | -59.9% | ||
| Q4 24 | 17.3% | -53.8% | ||
| Q3 24 | 8.9% | -27.7% | ||
| Q2 24 | -5.0% | -42.9% | ||
| Q1 24 | 6.6% | -104.5% |
资本支出强度PMTSZLAB
| Q4 25 | 2.9% | 0.5% | ||
| Q3 25 | 3.4% | 2.6% | ||
| Q2 25 | 2.9% | 2.6% | ||
| Q1 25 | 4.3% | 1.5% | ||
| Q4 24 | 4.0% | 2.4% | ||
| Q3 24 | 1.2% | 1.3% | ||
| Q2 24 | 1.0% | 0.7% | ||
| Q1 24 | 1.3% | 1.1% |
现金转化率PMTSZLAB
| Q4 25 | 5.39× | — | ||
| Q3 25 | 4.32× | — | ||
| Q2 25 | 8.39× | — | ||
| Q1 25 | 1.17× | — | ||
| Q4 24 | 3.94× | — | ||
| Q3 24 | 9.70× | — | ||
| Q2 24 | -0.79× | — | ||
| Q1 24 | 1.63× | — |
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
PMTS
| US Debit And Credit | $128.9M | 84% |
| US Prepaid Debit | $24.4M | 16% |
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% |
