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STEM, INC.（STEM）与TFS Financial CORP（TFSL）财务数据对比。点击上方公司名可切换其他公司
TFS Financial CORP的季度营收约是STEM, INC.的1.8倍（$83.7M vs $47.1M），TFS Financial CORP净利率更高（26.6% vs -33.9%，领先60.5%），TFS Financial CORP同比增速更快（11.9% vs -15.6%），过去两年STEM, INC.的营收复合增速更高（36.1% vs 4.2%）
该公司是一家公开上市的生物制药企业，总部位于加利福尼亚州纽瓦克，专注研发纯化人类神经干细胞，旨在治疗中枢神经系统疾病与瘫痪，其所研发的神经干细胞可分化为中枢神经系统的神经元、星形胶质细胞与少突胶质细胞这三大主要细胞类型。
TFS金融公司是一家总部位于美国的金融控股企业，主要通过旗下零售银行子公司开展业务，提供住房抵押贷款、储蓄账户及其他消费金融产品，核心客群主要分布于俄亥俄州和佛罗里达州，以个人及家庭客户为服务重心。
STEM vs TFSL — 直观对比
营收规模更大
TFSL
是对方的1.8倍
$47.1M
营收增速更快
TFSL
高出27.4%
-15.6%
净利率更高
TFSL
高出60.5%
-33.9%
两年增速更快
STEM
近两年复合增速
4.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $47.1M | $83.7M |
| 净利润 | $-16.0M | $22.3M |
| 毛利率 | 48.9% | — |
| 营业利润率 | -17.7% | 34.0% |
| 净利率 | -33.9% | 26.6% |
| 营收同比 | -15.6% | 11.9% |
| 净利润同比 | 68.8% | -0.7% |
| 每股收益（稀释后） | $-4.40 | $0.08 |
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STEMTFSL
| Q4 25 | $47.1M | $83.7M | ||
| Q3 25 | $38.2M | $85.5M | ||
| Q2 25 | $38.4M | $82.0M | ||
| Q1 25 | $32.5M | $79.1M | ||
| Q4 24 | $55.8M | $74.8M | ||
| Q3 24 | $29.3M | $75.1M | ||
| Q2 24 | $34.0M | $75.5M | ||
| Q1 24 | $25.5M | $77.1M |
净利润STEMTFSL
| Q4 25 | $-16.0M | $22.3M | ||
| Q3 25 | $-23.8M | $26.0M | ||
| Q2 25 | $202.5M | $21.5M | ||
| Q1 25 | $-25.0M | $21.0M | ||
| Q4 24 | $-51.1M | $22.4M | ||
| Q3 24 | $-148.3M | $18.2M | ||
| Q2 24 | $-582.3M | $20.0M | ||
| Q1 24 | $-72.3M | $20.7M |
毛利率STEMTFSL
| Q4 25 | 48.9% | — | ||
| Q3 25 | 35.5% | — | ||
| Q2 25 | 33.4% | — | ||
| Q1 25 | 32.4% | — | ||
| Q4 24 | -4.4% | — | ||
| Q3 24 | 21.2% | — | ||
| Q2 24 | 27.6% | — | ||
| Q1 24 | -95.0% | — |
营业利润率STEMTFSL
| Q4 25 | -17.7% | 34.0% | ||
| Q3 25 | -33.6% | 37.9% | ||
| Q2 25 | -34.8% | 33.3% | ||
| Q1 25 | -65.0% | 33.5% | ||
| Q4 24 | -84.4% | 37.9% | ||
| Q3 24 | -493.2% | 30.7% | ||
| Q2 24 | -1705.5% | 33.4% | ||
| Q1 24 | -267.0% | 33.6% |
净利率STEMTFSL
| Q4 25 | -33.9% | 26.6% | ||
| Q3 25 | -62.2% | 30.4% | ||
| Q2 25 | 527.8% | 26.2% | ||
| Q1 25 | -76.9% | 26.6% | ||
| Q4 24 | -91.6% | 30.0% | ||
| Q3 24 | -506.3% | 24.2% | ||
| Q2 24 | -1712.6% | 26.4% | ||
| Q1 24 | -283.9% | 26.9% |
每股收益（稀释后）STEMTFSL
| Q4 25 | $-4.40 | $0.08 | ||
| Q3 25 | $-2.84 | $0.09 | ||
| Q2 25 | $-1.79 | $0.08 | ||
| Q1 25 | $-0.15 | $0.07 | ||
| Q4 24 | $-15.29 | $0.08 | ||
| Q3 24 | $-18.24 | $0.07 | ||
| Q2 24 | $-71.81 | $0.07 | ||
| Q1 24 | $-0.46 | $0.07 |
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 | $48.9M | $456.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-249.4M | $1.9B |
| 总资产 | $308.9M | $17.5B |
| 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STEMTFSL
| Q4 25 | $48.9M | $456.7M | ||
| Q3 25 | $43.1M | $429.4M | ||
| Q2 25 | $40.8M | $452.6M | ||
| Q1 25 | $58.6M | $463.6M | ||
| Q4 24 | $56.3M | $465.9M | ||
| Q3 24 | $75.4M | $463.7M | ||
| Q2 24 | $89.6M | $560.4M | ||
| Q1 24 | $112.8M | $594.3M |
股东权益STEMTFSL
| Q4 25 | $-249.4M | $1.9B | ||
| Q3 25 | $-235.7M | $1.9B | ||
| Q2 25 | $-214.1M | $1.9B | ||
| Q1 25 | $-417.5M | $1.9B | ||
| Q4 24 | $-398.4M | $1.9B | ||
| Q3 24 | $-344.1M | $1.9B | ||
| Q2 24 | $-203.2M | $1.9B | ||
| Q1 24 | $371.6M | $1.9B |
总资产STEMTFSL
| Q4 25 | $308.9M | $17.5B | ||
| Q3 25 | $362.6M | $17.5B | ||
| Q2 25 | $379.2M | $17.4B | ||
| Q1 25 | $405.1M | $17.1B | ||
| Q4 24 | $437.4M | $17.1B | ||
| Q3 24 | $537.8M | $17.1B | ||
| Q2 24 | $691.5M | $17.0B | ||
| Q1 24 | $1.3B | $17.0B |
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 | $8.2M | $58.7M |
| 自由现金流经营现金流 - 资本支出 | — | $57.1M |
| 自由现金流率自由现金流/营收 | — | 68.2% |
| 资本支出强度资本支出/营收 | — | 2.0% |
| 现金转化率经营现金流/净利润 | — | 2.64× |
| 过去12个月自由现金流最近4个季度 | — | $167.4M |
8季度趋势，按日历期对齐
经营现金流STEMTFSL
| Q4 25 | $8.2M | $58.7M | ||
| Q3 25 | $11.4M | $82.4M | ||
| Q2 25 | $-21.3M | $26.8M | ||
| Q1 25 | $8.5M | $21.2M | ||
| Q4 24 | $-14.7M | $45.5M | ||
| Q3 24 | $-9.4M | $88.6M | ||
| Q2 24 | $-11.9M | $96.7M | ||
| Q1 24 | $-621.0K | $14.2M |
自由现金流STEMTFSL
| Q4 25 | — | $57.1M | ||
| Q3 25 | — | $71.0M | ||
| Q2 25 | — | $25.0M | ||
| Q1 25 | — | $14.3M | ||
| Q4 24 | — | $44.9M | ||
| Q3 24 | — | $85.5M | ||
| Q2 24 | — | $95.9M | ||
| Q1 24 | — | $13.4M |
自由现金流率STEMTFSL
| Q4 25 | — | 68.2% | ||
| Q3 25 | — | 83.0% | ||
| Q2 25 | — | 30.5% | ||
| Q1 25 | — | 18.0% | ||
| Q4 24 | — | 60.0% | ||
| Q3 24 | — | 113.8% | ||
| Q2 24 | — | 127.0% | ||
| Q1 24 | — | 17.4% |
资本支出强度STEMTFSL
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 13.4% | ||
| Q2 25 | — | 2.1% | ||
| Q1 25 | — | 8.8% | ||
| Q4 24 | — | 0.9% | ||
| Q3 24 | — | 4.1% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 1.1% |
现金转化率STEMTFSL
| Q4 25 | — | 2.64× | ||
| Q3 25 | — | 3.17× | ||
| Q2 25 | -0.11× | 1.24× | ||
| Q1 25 | — | 1.01× | ||
| Q4 24 | — | 2.03× | ||
| Q3 24 | — | 4.86× | ||
| Q2 24 | — | 4.85× | ||
| Q1 24 | — | 0.69× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
