vs
REPLIGEN CORP（RGEN）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
世纪互联的季度营收约是REPLIGEN CORP的1.8倍（$362.7M vs $197.9M），REPLIGEN CORP净利率更高（6.7% vs -10.7%，领先17.4%），REPLIGEN CORP自由现金流更多（$17.6M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 14.4%）
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。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
RGEN vs VNET — 直观对比
营收规模更大
VNET
是对方的1.8倍
$197.9M
净利率更高
RGEN
高出17.4%
-10.7%
自由现金流更多
RGEN
多$210.6M
$-193.1M
两年增速更快
VNET
近两年复合增速
14.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $197.9M | $362.7M |
| 净利润 | $13.3M | $-38.7M |
| 毛利率 | 52.5% | 20.9% |
| 营业利润率 | 9.0% | 0.5% |
| 净利率 | 6.7% | -10.7% |
| 营收同比 | 13.6% | — |
| 净利润同比 | 143.9% | — |
| 每股收益（稀释后） | $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RGENVNET
| Q4 25 | $197.9M | — | ||
| Q3 25 | $188.8M | $362.7M | ||
| Q2 25 | $182.4M | — | ||
| Q1 25 | $169.2M | $309.5M | ||
| Q4 24 | $174.1M | — | ||
| Q3 24 | $154.9M | $302.2M | ||
| Q2 24 | $154.1M | $274.4M | ||
| Q1 24 | $151.3M | $262.9M |
净利润RGENVNET
| Q4 25 | $13.3M | — | ||
| Q3 25 | $14.9M | $-38.7M | ||
| Q2 25 | $14.9M | — | ||
| Q1 25 | $5.8M | $-2.4M | ||
| Q4 24 | $-30.3M | — | ||
| Q3 24 | $-654.0K | $-2.1M | ||
| Q2 24 | $3.3M | $-1.1M | ||
| Q1 24 | $2.1M | $-22.0M |
毛利率RGENVNET
| Q4 25 | 52.5% | — | ||
| Q3 25 | 53.2% | 20.9% | ||
| Q2 25 | 50.0% | — | ||
| Q1 25 | 53.6% | 25.2% | ||
| Q4 24 | 26.1% | — | ||
| Q3 24 | 50.0% | 23.2% | ||
| Q2 24 | 49.8% | 21.3% | ||
| Q1 24 | 49.5% | 21.6% |
营业利润率RGENVNET
| Q4 25 | 9.0% | — | ||
| Q3 25 | 8.9% | 0.5% | ||
| Q2 25 | 7.6% | — | ||
| Q1 25 | 3.9% | 0.1% | ||
| Q4 24 | -17.7% | — | ||
| Q3 24 | -5.1% | 24.5% | ||
| Q2 24 | 1.0% | 0.2% | ||
| Q1 24 | 1.3% | 0.2% |
净利率RGENVNET
| Q4 25 | 6.7% | — | ||
| Q3 25 | 7.9% | -10.7% | ||
| Q2 25 | 8.2% | — | ||
| Q1 25 | 3.4% | -0.8% | ||
| Q4 24 | -17.4% | — | ||
| Q3 24 | -0.4% | -0.7% | ||
| Q2 24 | 2.2% | -0.4% | ||
| Q1 24 | 1.4% | -8.4% |
每股收益（稀释后）RGENVNET
| Q4 25 | $0.24 | — | ||
| Q3 25 | $0.26 | — | ||
| Q2 25 | $0.26 | — | ||
| Q1 25 | $0.10 | — | ||
| Q4 24 | $-0.55 | — | ||
| Q3 24 | $-0.01 | — | ||
| Q2 24 | $0.06 | — | ||
| Q1 24 | $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 | $767.6M | $492.1M |
| 总债务越低越好 | $542.2M | — |
| 股东权益账面价值 | $2.1B | $890.8M |
| 总资产 | $2.9B | $6.1B |
| 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RGENVNET
| Q4 25 | $767.6M | — | ||
| Q3 25 | $748.7M | $492.1M | ||
| Q2 25 | $708.9M | — | ||
| Q1 25 | $697.2M | $544.3M | ||
| Q4 24 | $757.4M | — | ||
| Q3 24 | $784.0M | $219.5M | ||
| Q2 24 | $809.1M | $247.2M | ||
| Q1 24 | $780.6M | $246.9M |
总债务RGENVNET
| Q4 25 | $542.2M | — | ||
| Q3 25 | $537.9M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $525.6M | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益RGENVNET
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | $890.8M | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.0B | $927.8M | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.0B | $902.9M | ||
| Q2 24 | $2.0B | $900.6M | ||
| Q1 24 | $2.0B | $895.1M |
总资产RGENVNET
| Q4 25 | $2.9B | — | ||
| Q3 25 | $2.9B | $6.1B | ||
| Q2 25 | $2.9B | — | ||
| Q1 25 | $2.9B | $5.4B | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.8B | $4.3B | ||
| Q2 24 | $2.9B | $4.0B | ||
| Q1 24 | $2.8B | $3.9B |
负债/权益比RGENVNET
| Q4 25 | 0.26× | — | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.27× | — | ||
| Q3 24 | — | 1.28× | ||
| 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 | $25.7M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $17.6M | $-193.1M |
| 自由现金流率自由现金流/营收 | 8.9% | -53.2% |
| 资本支出强度资本支出/营收 | 4.1% | 84.6% |
| 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 | $93.9M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流RGENVNET
| Q4 25 | $25.7M | — | ||
| Q3 25 | $48.1M | $113.8M | ||
| Q2 25 | $28.6M | — | ||
| Q1 25 | $15.0M | $27.0M | ||
| Q4 24 | $39.2M | — | ||
| Q3 24 | $49.3M | $108.3M | ||
| Q2 24 | $42.2M | $55.8M | ||
| Q1 24 | $44.7M | $37.1M |
自由现金流RGENVNET
| Q4 25 | $17.6M | — | ||
| Q3 25 | $43.4M | $-193.1M | ||
| Q2 25 | $21.5M | — | ||
| Q1 25 | $11.4M | $-220.0M | ||
| Q4 24 | $33.6M | — | ||
| Q3 24 | $42.3M | $-95.0M | ||
| Q2 24 | $37.4M | $-81.6M | ||
| Q1 24 | $36.4M | $-102.2M |
自由现金流率RGENVNET
| Q4 25 | 8.9% | — | ||
| Q3 25 | 23.0% | -53.2% | ||
| Q2 25 | 11.8% | — | ||
| Q1 25 | 6.8% | -71.1% | ||
| Q4 24 | 19.3% | — | ||
| Q3 24 | 27.3% | -31.4% | ||
| Q2 24 | 24.3% | -29.8% | ||
| Q1 24 | 24.0% | -38.9% |
资本支出强度RGENVNET
| Q4 25 | 4.1% | — | ||
| Q3 25 | 2.5% | 84.6% | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | 2.1% | 79.8% | ||
| Q4 24 | 3.2% | — | ||
| Q3 24 | 4.5% | 67.3% | ||
| Q2 24 | 3.1% | 50.1% | ||
| Q1 24 | 5.5% | 53.0% |
现金转化率RGENVNET
| Q4 25 | 1.93× | — | ||
| Q3 25 | 3.23× | — | ||
| Q2 25 | 1.92× | — | ||
| Q1 25 | 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
