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POWER INTEGRATIONS INC（POWI）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POWER INTEGRATIONS INC的1.2倍（$127.1M vs $103.2M），再鼎医药同比增速更快（17.1% vs -1.9%），POWER INTEGRATIONS INC自由现金流更多（$19.2M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 6.1%）
Power Integrations Inc.是美国头部电力公用事业企业，业务覆盖美国本土11个州，服务超500万用户，在全美电力供应领域拥有领先的市场地位与成熟的运营体系。
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。
POWI vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.2倍
$103.2M
营收增速更快
ZLAB
高出19.1%
-1.9%
自由现金流更多
POWI
多$45.9M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
6.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $103.2M | $127.1M |
| 净利润 | $13.3M | — |
| 毛利率 | 52.9% | 51.0% |
| 营业利润率 | 8.5% | -54.6% |
| 净利率 | 12.9% | — |
| 营收同比 | -1.9% | 17.1% |
| 净利润同比 | 45.4% | — |
| 每股收益（稀释后） | $0.24 | $-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POWIZLAB
| Q4 25 | $103.2M | $127.1M | ||
| Q3 25 | $118.9M | $115.4M | ||
| Q2 25 | $115.9M | $109.1M | ||
| Q1 25 | $105.5M | $105.7M | ||
| Q4 24 | $105.3M | $108.5M | ||
| Q3 24 | $115.8M | $101.8M | ||
| Q2 24 | $106.2M | $100.1M | ||
| Q1 24 | $91.7M | $87.1M |
净利润POWIZLAB
| Q4 25 | $13.3M | — | ||
| Q3 25 | $-1.4M | $-36.0M | ||
| Q2 25 | $1.4M | $-40.7M | ||
| Q1 25 | $8.8M | $-48.4M | ||
| Q4 24 | $9.1M | — | ||
| Q3 24 | $14.3M | $-41.7M | ||
| Q2 24 | $4.8M | $-80.3M | ||
| Q1 24 | $4.0M | $-53.5M |
毛利率POWIZLAB
| Q4 25 | 52.9% | 51.0% | ||
| Q3 25 | 54.5% | 59.5% | ||
| Q2 25 | 55.2% | 60.6% | ||
| Q1 25 | 55.2% | 63.6% | ||
| Q4 24 | 54.4% | 61.5% | ||
| Q3 24 | 54.5% | 64.1% | ||
| Q2 24 | 53.2% | 64.9% | ||
| Q1 24 | 52.1% | 61.4% |
营业利润率POWIZLAB
| Q4 25 | 8.5% | -54.6% | ||
| Q3 25 | -3.3% | -42.3% | ||
| Q2 25 | -1.2% | -50.3% | ||
| Q1 25 | 6.4% | -53.3% | ||
| Q4 24 | 3.7% | -62.6% | ||
| Q3 24 | 10.0% | -66.6% | ||
| Q2 24 | 1.8% | -76.0% | ||
| Q1 24 | 0.5% | -80.7% |
净利率POWIZLAB
| Q4 25 | 12.9% | — | ||
| Q3 25 | -1.1% | -31.2% | ||
| Q2 25 | 1.2% | -37.3% | ||
| Q1 25 | 8.3% | -45.8% | ||
| Q4 24 | 8.7% | — | ||
| Q3 24 | 12.3% | -40.9% | ||
| Q2 24 | 4.6% | -80.2% | ||
| Q1 24 | 4.3% | -61.4% |
每股收益（稀释后）POWIZLAB
| Q4 25 | $0.24 | $-0.05 | ||
| Q3 25 | $-0.02 | $-0.03 | ||
| Q2 25 | $0.02 | $-0.04 | ||
| Q1 25 | $0.15 | $-0.04 | ||
| Q4 24 | $0.15 | $-0.09 | ||
| Q3 24 | $0.25 | $-0.04 | ||
| Q2 24 | $0.09 | $-0.08 | ||
| Q1 24 | $0.07 | $-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 | $249.5M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $672.8M | $715.5M |
| 总资产 | $772.2M | $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POWIZLAB
| Q4 25 | $249.5M | $689.6M | ||
| Q3 25 | $241.9M | $717.2M | ||
| Q2 25 | $268.7M | $732.2M | ||
| Q1 25 | $289.3M | $757.3M | ||
| Q4 24 | $300.0M | $779.7M | ||
| Q3 24 | $303.8M | $616.1M | ||
| Q2 24 | $290.5M | $630.0M | ||
| Q1 24 | $299.6M | $650.8M |
股东权益POWIZLAB
| Q4 25 | $672.8M | $715.5M | ||
| Q3 25 | $672.0M | $759.9M | ||
| Q2 25 | $703.8M | $791.7M | ||
| Q1 25 | $735.8M | $810.8M | ||
| Q4 24 | $749.8M | $840.9M | ||
| Q3 24 | $749.2M | $667.7M | ||
| Q2 24 | $730.7M | $704.2M | ||
| Q1 24 | $738.2M | $762.2M |
总资产POWIZLAB
| Q4 25 | $772.2M | $1.2B | ||
| Q3 25 | $772.5M | $1.2B | ||
| Q2 25 | $797.5M | $1.2B | ||
| Q1 25 | $814.4M | $1.2B | ||
| Q4 24 | $828.8M | $1.2B | ||
| Q3 24 | $825.0M | $985.3M | ||
| Q2 24 | $804.8M | $987.4M | ||
| Q1 24 | $805.8M | $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 | $26.2M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $19.2M | $-26.7M |
| 自由现金流率自由现金流/营收 | 18.6% | -21.0% |
| 资本支出强度资本支出/营收 | 6.8% | 0.5% |
| 现金转化率经营现金流/净利润 | 1.97× | — |
| 过去12个月自由现金流最近4个季度 | $87.1M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流POWIZLAB
| Q4 25 | $26.2M | $-26.0M | ||
| Q3 25 | $29.9M | $-32.0M | ||
| Q2 25 | $29.1M | $-31.0M | ||
| Q1 25 | $26.4M | $-61.7M | ||
| Q4 24 | $14.7M | $-55.8M | ||
| Q3 24 | $32.9M | $-26.8M | ||
| Q2 24 | $17.6M | $-42.2M | ||
| Q1 24 | $15.9M | $-90.1M |
自由现金流POWIZLAB
| Q4 25 | $19.2M | $-26.7M | ||
| Q3 25 | $24.2M | $-35.0M | ||
| Q2 25 | $23.1M | $-33.9M | ||
| Q1 25 | $20.7M | $-63.2M | ||
| Q4 24 | $11.7M | $-58.4M | ||
| Q3 24 | $27.2M | $-28.2M | ||
| Q2 24 | $13.5M | $-42.9M | ||
| Q1 24 | $11.6M | $-91.1M |
自由现金流率POWIZLAB
| Q4 25 | 18.6% | -21.0% | ||
| Q3 25 | 20.3% | -30.4% | ||
| Q2 25 | 20.0% | -31.1% | ||
| Q1 25 | 19.6% | -59.9% | ||
| Q4 24 | 11.1% | -53.8% | ||
| Q3 24 | 23.5% | -27.7% | ||
| Q2 24 | 12.7% | -42.9% | ||
| Q1 24 | 12.6% | -104.5% |
资本支出强度POWIZLAB
| Q4 25 | 6.8% | 0.5% | ||
| Q3 25 | 4.8% | 2.6% | ||
| Q2 25 | 5.1% | 2.6% | ||
| Q1 25 | 5.4% | 1.5% | ||
| Q4 24 | 2.9% | 2.4% | ||
| Q3 24 | 4.9% | 1.3% | ||
| Q2 24 | 3.9% | 0.7% | ||
| Q1 24 | 4.7% | 1.1% |
现金转化率POWIZLAB
| Q4 25 | 1.97× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 21.24× | — | ||
| Q1 25 | 3.00× | — | ||
| Q4 24 | 1.61× | — | ||
| Q3 24 | 2.30× | — | ||
| Q2 24 | 3.64× | — | ||
| Q1 24 | 4.02× | — |
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
POWI
| Distributors | $65.8M | 64% |
| Other | $10.3M | 10% |
| KR | $9.3M | 9% |
| DE | $7.1M | 7% |
| TW | $5.5M | 5% |
| Emea Other Than Germany | $5.3M | 5% |
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% |
