vs
礼来（RNA）与TANDY LEATHER FACTORY INC（TLF）财务数据对比。点击上方公司名可切换其他公司
TANDY LEATHER FACTORY INC的季度营收约是礼来的1.8倍（$22.3M vs $12.5M），TANDY LEATHER FACTORY INC净利率更高（-4.2% vs -1398.3%，领先1394.2%），礼来同比增速更快（434.0% vs 8.7%），TANDY LEATHER FACTORY INC自由现金流更多（$4.0M vs $-156.9M），过去两年礼来的营收复合增速更高（138.5% vs 7.4%）
礼来是总部位于美国印第安纳州印第安纳波利斯的跨国制药企业，在18个国家设有办事处，产品销往全球约125个国家。公司由美国内战时期联邦军退伍军人、药剂师伊莱·礼来于1876年创立，品牌名即取自创始人姓名。
坦迪皮革厂是美国的专业皮革及手工皮具相关产品零售商与批发商，在全球运营超过100家门店。品牌最初隶属于坦迪公司，历经多轮收购合并后，于2000年售予皮革厂公司。其位于得克萨斯州沃斯堡总部旁的旗舰店还设有斯托尔曼手工皮革博物馆。
RNA vs TLF — 直观对比
营收规模更大
TLF
是对方的1.8倍
$12.5M
营收增速更快
RNA
高出425.4%
8.7%
净利率更高
TLF
高出1394.2%
-1398.3%
自由现金流更多
TLF
多$160.9M
$-156.9M
两年增速更快
RNA
近两年复合增速
7.4%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $12.5M | $22.3M |
| 净利润 | $-174.4M | $-930.0K |
| 毛利率 | — | 54.3% |
| 营业利润率 | -1513.5% | -2.8% |
| 净利率 | -1398.3% | -4.2% |
| 营收同比 | 434.0% | 8.7% |
| 净利润同比 | -117.0% | -379.3% |
| 每股收益（稀释后） | $-1.27 | $-0.18 |
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RNATLF
| Q4 25 | — | $22.3M | ||
| Q3 25 | $12.5M | $17.3M | ||
| Q2 25 | $3.8M | $17.8M | ||
| Q1 25 | $1.6M | $19.0M | ||
| Q4 24 | $3.0M | $20.5M | ||
| Q3 24 | $2.3M | $17.4M | ||
| Q2 24 | $2.0M | $17.3M | ||
| Q1 24 | $3.5M | $19.3M |
净利润RNATLF
| Q4 25 | — | $-930.0K | ||
| Q3 25 | $-174.4M | $-1.4M | ||
| Q2 25 | $-157.3M | $-199.0K | ||
| Q1 25 | $-115.8M | $11.6M | ||
| Q4 24 | $-102.3M | $333.0K | ||
| Q3 24 | $-80.4M | $-132.0K | ||
| Q2 24 | $-70.8M | $101.0K | ||
| Q1 24 | $-68.9M | $525.0K |
毛利率RNATLF
| Q4 25 | — | 54.3% | ||
| Q3 25 | — | 58.9% | ||
| Q2 25 | — | 59.5% | ||
| Q1 25 | — | 56.3% | ||
| Q4 24 | — | 53.0% | ||
| Q3 24 | — | 57.8% | ||
| Q2 24 | — | 58.0% | ||
| Q1 24 | — | 56.7% |
营业利润率RNATLF
| Q4 25 | — | -2.8% | ||
| Q3 25 | -1513.5% | -3.9% | ||
| Q2 25 | -4448.7% | 0.4% | ||
| Q1 25 | -8360.9% | 1.4% | ||
| Q4 24 | -4069.6% | 0.9% | ||
| Q3 24 | -4200.9% | -1.5% | ||
| Q2 24 | -4040.4% | 0.4% | ||
| Q1 24 | -2178.6% | 3.4% |
净利率RNATLF
| Q4 25 | — | -4.2% | ||
| Q3 25 | -1398.3% | -7.8% | ||
| Q2 25 | -4089.3% | -1.1% | ||
| Q1 25 | -7360.0% | 60.8% | ||
| Q4 24 | -3439.5% | 1.6% | ||
| Q3 24 | -3441.7% | -0.8% | ||
| Q2 24 | -3461.8% | 0.6% | ||
| Q1 24 | -1943.4% | 2.7% |
每股收益（稀释后）RNATLF
| Q4 25 | — | $-0.18 | ||
| Q3 25 | $-1.27 | $-0.17 | ||
| Q2 25 | $-1.21 | $-0.02 | ||
| Q1 25 | $-0.90 | $1.47 | ||
| Q4 24 | $-0.80 | $0.04 | ||
| Q3 24 | $-0.65 | $-0.02 | ||
| Q2 24 | $-0.65 | $0.01 | ||
| Q1 24 | $-0.79 | $0.06 |
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 | $350.2M | $16.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.9B | $52.6M |
| 总资产 | $2.1B | $86.6M |
| 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RNATLF
| Q4 25 | — | $16.1M | ||
| Q3 25 | $350.2M | $12.0M | ||
| Q2 25 | $243.9M | $16.4M | ||
| Q1 25 | $254.2M | $23.6M | ||
| Q4 24 | $219.9M | $13.3M | ||
| Q3 24 | $370.2M | $10.1M | ||
| Q2 24 | $575.8M | $11.5M | ||
| Q1 24 | $471.4M | $12.3M |
股东权益RNATLF
| Q4 25 | — | $52.6M | ||
| Q3 25 | $1.9B | $53.4M | ||
| Q2 25 | $1.2B | $56.1M | ||
| Q1 25 | $1.3B | $55.8M | ||
| Q4 24 | $1.4B | $57.2M | ||
| Q3 24 | $1.5B | $57.6M | ||
| Q2 24 | $1.2B | $57.5M | ||
| Q1 24 | $830.9M | $57.2M |
总资产RNATLF
| Q4 25 | — | $86.6M | ||
| Q3 25 | $2.1B | $84.5M | ||
| Q2 25 | $1.4B | $76.5M | ||
| Q1 25 | $1.5B | $77.9M | ||
| Q4 24 | $1.6B | $74.9M | ||
| Q3 24 | $1.6B | $73.0M | ||
| Q2 24 | $1.3B | $72.8M | ||
| Q1 24 | $951.5M | $72.4M |
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 | $-156.2M | $5.0M |
| 自由现金流经营现金流 - 资本支出 | $-156.9M | $4.0M |
| 自由现金流率自由现金流/营收 | -1257.6% | 18.1% |
| 资本支出强度资本支出/营收 | 5.7% | 4.3% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-592.3M | $-8.1M |
8季度趋势，按日历期对齐
经营现金流RNATLF
| Q4 25 | — | $5.0M | ||
| Q3 25 | $-156.2M | $-1.0M | ||
| Q2 25 | $-199.7M | $-4.0M | ||
| Q1 25 | $-124.8M | $-536.0K | ||
| Q4 24 | $-99.9M | $4.5M | ||
| Q3 24 | $-65.6M | $-535.0K | ||
| Q2 24 | $-65.0M | $-514.0K | ||
| Q1 24 | $-70.4M | $1.1M |
自由现金流RNATLF
| Q4 25 | — | $4.0M | ||
| Q3 25 | $-156.9M | $-3.0M | ||
| Q2 25 | $-203.0M | $-7.3M | ||
| Q1 25 | $-128.6M | $-1.9M | ||
| Q4 24 | $-103.8M | $3.8M | ||
| Q3 24 | $-67.3M | $-1.4M | ||
| Q2 24 | $-65.5M | $-715.0K | ||
| Q1 24 | $-71.3M | $-141.0K |
自由现金流率RNATLF
| Q4 25 | — | 18.1% | ||
| Q3 25 | -1257.6% | -17.2% | ||
| Q2 25 | -5277.1% | -41.0% | ||
| Q1 25 | -8174.3% | -9.8% | ||
| Q4 24 | -3491.0% | 18.8% | ||
| Q3 24 | -2881.8% | -8.2% | ||
| Q2 24 | -3204.6% | -4.1% | ||
| Q1 24 | -2012.3% | -0.7% |
资本支出强度RNATLF
| Q4 25 | — | 4.3% | ||
| Q3 25 | 5.7% | 11.2% | ||
| Q2 25 | 86.9% | 18.7% | ||
| Q1 25 | 238.6% | 7.0% | ||
| Q4 24 | 131.7% | 3.3% | ||
| Q3 24 | 72.9% | 5.1% | ||
| Q2 24 | 26.0% | 1.2% | ||
| Q1 24 | 25.8% | 6.4% |
现金转化率RNATLF
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -0.05× | ||
| Q4 24 | — | 13.55× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -5.09× | ||
| Q1 24 | — | 2.07× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
