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Shoals Technologies Group, Inc.（SHLS）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
Shoals Technologies Group, Inc.的季度营收约是再鼎医药的1.2倍（$148.3M vs $127.1M），Shoals Technologies Group, Inc.同比增速更快（38.6% vs 17.1%），Shoals Technologies Group, Inc.自由现金流更多（$-11.3M vs $-26.7M），过去两年Shoals Technologies Group, Inc.的营收复合增速更高（27.8% vs 20.8%）
Shoals科技集团是可再生能源及电动出行领域的电气系统平衡解决方案供应商，核心产品覆盖光伏、储能及充电桩用连接组件，主要服务北美、欧洲、亚太市场的公用事业、工商业及民用客户。
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。
SHLS vs ZLAB — 直观对比
营收规模更大
SHLS
是对方的1.2倍
$127.1M
营收增速更快
SHLS
高出21.5%
17.1%
自由现金流更多
SHLS
多$15.4M
$-26.7M
两年增速更快
SHLS
近两年复合增速
20.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $148.3M | $127.1M |
| 净利润 | $8.1M | — |
| 毛利率 | 31.6% | 51.0% |
| 营业利润率 | 11.7% | -54.6% |
| 净利率 | 5.5% | — |
| 营收同比 | 38.6% | 17.1% |
| 净利润同比 | 3.9% | — |
| 每股收益（稀释后） | $0.05 | $-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SHLSZLAB
| Q4 25 | $148.3M | $127.1M | ||
| Q3 25 | $135.8M | $115.4M | ||
| Q2 25 | $110.8M | $109.1M | ||
| Q1 25 | $80.4M | $105.7M | ||
| Q4 24 | $107.0M | $108.5M | ||
| Q3 24 | $102.2M | $101.8M | ||
| Q2 24 | $99.2M | $100.1M | ||
| Q1 24 | $90.8M | $87.1M |
净利润SHLSZLAB
| Q4 25 | $8.1M | — | ||
| Q3 25 | $11.9M | $-36.0M | ||
| Q2 25 | $13.9M | $-40.7M | ||
| Q1 25 | $-282.0K | $-48.4M | ||
| Q4 24 | $7.8M | — | ||
| Q3 24 | $-267.0K | $-41.7M | ||
| Q2 24 | $11.8M | $-80.3M | ||
| Q1 24 | $4.8M | $-53.5M |
毛利率SHLSZLAB
| Q4 25 | 31.6% | 51.0% | ||
| Q3 25 | 37.0% | 59.5% | ||
| Q2 25 | 37.2% | 60.6% | ||
| Q1 25 | 35.0% | 63.6% | ||
| Q4 24 | 37.6% | 61.5% | ||
| Q3 24 | 24.8% | 64.1% | ||
| Q2 24 | 40.3% | 64.9% | ||
| Q1 24 | 40.2% | 61.4% |
营业利润率SHLSZLAB
| Q4 25 | 11.7% | -54.6% | ||
| Q3 25 | 13.7% | -42.3% | ||
| Q2 25 | 14.4% | -50.3% | ||
| Q1 25 | 5.4% | -53.3% | ||
| Q4 24 | 15.4% | -62.6% | ||
| Q3 24 | 4.4% | -66.6% | ||
| Q2 24 | 18.7% | -76.0% | ||
| Q1 24 | 12.8% | -80.7% |
净利率SHLSZLAB
| Q4 25 | 5.5% | — | ||
| Q3 25 | 8.7% | -31.2% | ||
| Q2 25 | 12.5% | -37.3% | ||
| Q1 25 | -0.4% | -45.8% | ||
| Q4 24 | 7.3% | — | ||
| Q3 24 | -0.3% | -40.9% | ||
| Q2 24 | 11.9% | -80.2% | ||
| Q1 24 | 5.3% | -61.4% |
每股收益（稀释后）SHLSZLAB
| Q4 25 | $0.05 | $-0.05 | ||
| Q3 25 | $0.07 | $-0.03 | ||
| Q2 25 | $0.08 | $-0.04 | ||
| Q1 25 | $0.00 | $-0.04 | ||
| Q4 24 | $0.04 | $-0.09 | ||
| Q3 24 | $0.00 | $-0.04 | ||
| Q2 24 | $0.07 | $-0.08 | ||
| Q1 24 | $0.03 | $-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 | $7.3M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $600.0M | $715.5M |
| 总资产 | $904.1M | $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SHLSZLAB
| Q4 25 | $7.3M | $689.6M | ||
| Q3 25 | $8.6M | $717.2M | ||
| Q2 25 | $4.7M | $732.2M | ||
| Q1 25 | $35.6M | $757.3M | ||
| Q4 24 | $23.5M | $779.7M | ||
| Q3 24 | $11.1M | $616.1M | ||
| Q2 24 | $3.2M | $630.0M | ||
| Q1 24 | $15.2M | $650.8M |
总债务SHLSZLAB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $141.8M | — | ||
| Q4 24 | $141.8M | — | ||
| Q3 24 | $141.8M | — | ||
| Q2 24 | $146.8M | — | ||
| Q1 24 | $168.8M | — |
股东权益SHLSZLAB
| Q4 25 | $600.0M | $715.5M | ||
| Q3 25 | $589.6M | $759.9M | ||
| Q2 25 | $575.4M | $791.7M | ||
| Q1 25 | $558.9M | $810.8M | ||
| Q4 24 | $556.8M | $840.9M | ||
| Q3 24 | $545.2M | $667.7M | ||
| Q2 24 | $544.6M | $704.2M | ||
| Q1 24 | $554.0M | $762.2M |
总资产SHLSZLAB
| Q4 25 | $904.1M | $1.2B | ||
| Q3 25 | $851.8M | $1.2B | ||
| Q2 25 | $795.0M | $1.2B | ||
| Q1 25 | $788.4M | $1.2B | ||
| Q4 24 | $793.1M | $1.2B | ||
| Q3 24 | $801.3M | $985.3M | ||
| Q2 24 | $788.4M | $987.4M | ||
| Q1 24 | $825.3M | $988.4M |
负债/权益比SHLSZLAB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.25× | — | ||
| Q4 24 | 0.25× | — | ||
| Q3 24 | 0.26× | — | ||
| Q2 24 | 0.27× | — | ||
| Q1 24 | 0.30× | — |
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 | $-4.1M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-11.3M | $-26.7M |
| 自由现金流率自由现金流/营收 | -7.6% | -21.0% |
| 资本支出强度资本支出/营收 | 4.8% | 0.5% |
| 现金转化率经营现金流/净利润 | -0.50× | — |
| 过去12个月自由现金流最近4个季度 | $-16.0M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流SHLSZLAB
| Q4 25 | $-4.1M | $-26.0M | ||
| Q3 25 | $19.4M | $-32.0M | ||
| Q2 25 | $-13.8M | $-31.0M | ||
| Q1 25 | $15.6M | $-61.7M | ||
| Q4 24 | $14.0M | $-55.8M | ||
| Q3 24 | $15.7M | $-26.8M | ||
| Q2 24 | $37.8M | $-42.2M | ||
| Q1 24 | $12.9M | $-90.1M |
自由现金流SHLSZLAB
| Q4 25 | $-11.3M | $-26.7M | ||
| Q3 25 | $9.0M | $-35.0M | ||
| Q2 25 | $-26.0M | $-33.9M | ||
| Q1 25 | $12.3M | $-63.2M | ||
| Q4 24 | $12.5M | $-58.4M | ||
| Q3 24 | $13.3M | $-28.2M | ||
| Q2 24 | $35.8M | $-42.9M | ||
| Q1 24 | $10.4M | $-91.1M |
自由现金流率SHLSZLAB
| Q4 25 | -7.6% | -21.0% | ||
| Q3 25 | 6.6% | -30.4% | ||
| Q2 25 | -23.5% | -31.1% | ||
| Q1 25 | 15.4% | -59.9% | ||
| Q4 24 | 11.6% | -53.8% | ||
| Q3 24 | 13.0% | -27.7% | ||
| Q2 24 | 36.1% | -42.9% | ||
| Q1 24 | 11.4% | -104.5% |
资本支出强度SHLSZLAB
| Q4 25 | 4.8% | 0.5% | ||
| Q3 25 | 7.7% | 2.6% | ||
| Q2 25 | 11.0% | 2.6% | ||
| Q1 25 | 4.0% | 1.5% | ||
| Q4 24 | 1.4% | 2.4% | ||
| Q3 24 | 2.3% | 1.3% | ||
| Q2 24 | 2.0% | 0.7% | ||
| Q1 24 | 2.7% | 1.1% |
现金转化率SHLSZLAB
| Q4 25 | -0.50× | — | ||
| Q3 25 | 1.63× | — | ||
| Q2 25 | -1.00× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.79× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 3.21× | — | ||
| Q1 24 | 2.69× | — |
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
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
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% |
