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TheRealReal, Inc.（REAL）与REPLIGEN CORP（RGEN）财务数据对比。点击上方公司名可切换其他公司
REPLIGEN CORP的季度营收约是TheRealReal, Inc.的1.0倍（$197.9M vs $194.1M），TheRealReal, Inc.同比增速更快（18.3% vs 13.6%），TheRealReal, Inc.自由现金流更多（$45.8M vs $17.6M），过去两年TheRealReal, Inc.的营收复合增速更高（16.2% vs 14.4%）
TheRealReal是专业的奢侈品线上交易平台，所有在售商品均经过专业人员鉴定，可满足用户买卖二手奢侈品的需求。截至2023年9月30日，平台会员规模已超3800万，累计售出商品近4000万件。
Repligen是一家全球生命科学企业，专注于创新生物工艺技术与系统的研发及商业化，助力提升生物药生产效率。公司1981年成立，总部位于美国马萨诸塞州沃尔瑟姆，于纳斯达克挂牌上市，股票代码RGEN，截至2025年全球员工超1900人，主要服务生物制药领域客户。
REAL vs RGEN — 直观对比
营收规模更大
RGEN
是对方的1.0倍
$194.1M
营收增速更快
REAL
高出4.7%
13.6%
自由现金流更多
REAL
多$28.3M
$17.6M
两年增速更快
REAL
近两年复合增速
14.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $194.1M | $197.9M |
| 净利润 | — | $13.3M |
| 毛利率 | 74.8% | 52.5% |
| 营业利润率 | 3.2% | 9.0% |
| 净利率 | — | 6.7% |
| 营收同比 | 18.3% | 13.6% |
| 净利润同比 | — | 143.9% |
| 每股收益（稀释后） | $0.06 | $0.24 |
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REALRGEN
| Q4 25 | $194.1M | $197.9M | ||
| Q3 25 | $173.6M | $188.8M | ||
| Q2 25 | $165.2M | $182.4M | ||
| Q1 25 | $160.0M | $169.2M | ||
| Q4 24 | $164.0M | $174.1M | ||
| Q3 24 | $147.8M | $154.9M | ||
| Q2 24 | $144.9M | $154.1M | ||
| Q1 24 | $143.8M | $151.3M |
净利润REALRGEN
| Q4 25 | — | $13.3M | ||
| Q3 25 | $-54.1M | $14.9M | ||
| Q2 25 | $-11.4M | $14.9M | ||
| Q1 25 | $62.4M | $5.8M | ||
| Q4 24 | — | $-30.3M | ||
| Q3 24 | $-17.9M | $-654.0K | ||
| Q2 24 | $-16.7M | $3.3M | ||
| Q1 24 | $-31.1M | $2.1M |
毛利率REALRGEN
| Q4 25 | 74.8% | 52.5% | ||
| Q3 25 | 74.3% | 53.2% | ||
| Q2 25 | 74.3% | 50.0% | ||
| Q1 25 | 75.0% | 53.6% | ||
| Q4 24 | 74.4% | 26.1% | ||
| Q3 24 | 74.9% | 50.0% | ||
| Q2 24 | 74.1% | 49.8% | ||
| Q1 24 | 74.6% | 49.5% |
营业利润率REALRGEN
| Q4 25 | 3.2% | 9.0% | ||
| Q3 25 | -4.3% | 8.9% | ||
| Q2 25 | -6.0% | 7.6% | ||
| Q1 25 | -8.0% | 3.9% | ||
| Q4 24 | -3.1% | -17.7% | ||
| Q3 24 | -9.9% | -5.1% | ||
| Q2 24 | -13.0% | 1.0% | ||
| Q1 24 | -12.5% | 1.3% |
净利率REALRGEN
| Q4 25 | — | 6.7% | ||
| Q3 25 | -31.1% | 7.9% | ||
| Q2 25 | -6.9% | 8.2% | ||
| Q1 25 | 39.0% | 3.4% | ||
| Q4 24 | — | -17.4% | ||
| Q3 24 | -12.1% | -0.4% | ||
| Q2 24 | -11.5% | 2.2% | ||
| Q1 24 | -21.6% | 1.4% |
每股收益（稀释后）REALRGEN
| Q4 25 | $0.06 | $0.24 | ||
| Q3 25 | $-0.49 | $0.26 | ||
| Q2 25 | $-0.13 | $0.26 | ||
| Q1 25 | $-0.14 | $0.10 | ||
| Q4 24 | $-0.57 | $-0.55 | ||
| Q3 24 | $-0.17 | $-0.01 | ||
| Q2 24 | $-0.20 | $0.06 | ||
| Q1 24 | $-0.30 | $0.04 |
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 | $151.2M | $767.6M |
| 总债务越低越好 | — | $542.2M |
| 股东权益账面价值 | $-415.5M | $2.1B |
| 总资产 | $409.0M | $2.9B |
| 负债/权益比越低杠杆越低 | — | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资REALRGEN
| Q4 25 | $151.2M | $767.6M | ||
| Q3 25 | $108.4M | $748.7M | ||
| Q2 25 | $94.3M | $708.9M | ||
| Q1 25 | $139.6M | $697.2M | ||
| Q4 24 | $172.2M | $757.4M | ||
| Q3 24 | $153.2M | $784.0M | ||
| Q2 24 | $150.7M | $809.1M | ||
| Q1 24 | $166.0M | $780.6M |
总债务REALRGEN
| Q4 25 | — | $542.2M | ||
| Q3 25 | — | $537.9M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $525.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益REALRGEN
| Q4 25 | $-415.5M | $2.1B | ||
| Q3 25 | $-385.1M | $2.1B | ||
| Q2 25 | $-338.2M | $2.1B | ||
| Q1 25 | $-336.1M | $2.0B | ||
| Q4 24 | $-407.4M | $2.0B | ||
| Q3 24 | $-345.4M | $2.0B | ||
| Q2 24 | $-335.3M | $2.0B | ||
| Q1 24 | $-327.1M | $2.0B |
总资产REALRGEN
| Q4 25 | $409.0M | $2.9B | ||
| Q3 25 | $366.2M | $2.9B | ||
| Q2 25 | $349.4M | $2.9B | ||
| Q1 25 | $400.4M | $2.9B | ||
| Q4 24 | $423.1M | $2.8B | ||
| Q3 24 | $406.3M | $2.8B | ||
| Q2 24 | $407.4M | $2.9B | ||
| Q1 24 | $431.6M | $2.8B |
负债/权益比REALRGEN
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.27× | ||
| 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 | $49.5M | $25.7M |
| 自由现金流经营现金流 - 资本支出 | $45.8M | $17.6M |
| 自由现金流率自由现金流/营收 | 23.6% | 8.9% |
| 资本支出强度资本支出/营收 | 1.9% | 4.1% |
| 现金转化率经营现金流/净利润 | — | 1.93× |
| 过去12个月自由现金流最近4个季度 | $18.4M | $93.9M |
8季度趋势，按日历期对齐
经营现金流REALRGEN
| Q4 25 | $49.5M | $25.7M | ||
| Q3 25 | $19.3M | $48.1M | ||
| Q2 25 | $-3.6M | $28.6M | ||
| Q1 25 | $-28.3M | $15.0M | ||
| Q4 24 | $28.0M | $39.2M | ||
| Q3 24 | $9.1M | $49.3M | ||
| Q2 24 | $-6.8M | $42.2M | ||
| Q1 24 | $-3.5M | $44.7M |
自由现金流REALRGEN
| Q4 25 | $45.8M | $17.6M | ||
| Q3 25 | $16.9M | $43.4M | ||
| Q2 25 | $-11.4M | $21.5M | ||
| Q1 25 | $-33.0M | $11.4M | ||
| Q4 24 | $22.9M | $33.6M | ||
| Q3 24 | $5.0M | $42.3M | ||
| Q2 24 | $-9.8M | $37.4M | ||
| Q1 24 | $-5.6M | $36.4M |
自由现金流率REALRGEN
| Q4 25 | 23.6% | 8.9% | ||
| Q3 25 | 9.7% | 23.0% | ||
| Q2 25 | -6.9% | 11.8% | ||
| Q1 25 | -20.6% | 6.8% | ||
| Q4 24 | 14.0% | 19.3% | ||
| Q3 24 | 3.4% | 27.3% | ||
| Q2 24 | -6.7% | 24.3% | ||
| Q1 24 | -3.9% | 24.0% |
资本支出强度REALRGEN
| Q4 25 | 1.9% | 4.1% | ||
| Q3 25 | 1.4% | 2.5% | ||
| Q2 25 | 4.7% | 3.9% | ||
| Q1 25 | 2.9% | 2.1% | ||
| Q4 24 | 3.1% | 3.2% | ||
| Q3 24 | 2.7% | 4.5% | ||
| Q2 24 | 2.1% | 3.1% | ||
| Q1 24 | 1.5% | 5.5% |
现金转化率REALRGEN
| Q4 25 | — | 1.93× | ||
| Q3 25 | — | 3.23× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | -0.45× | 2.57× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 12.70× | ||
| Q1 24 | — | 21.35× |
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
REAL
| Services | $149.0M | 77% |
| Products | $27.2M | 14% |
| Shipping And Handling | $17.8M | 9% |
RGEN
暂无分部数据
