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STEM, INC.（STEM）与VIRCO MFG CORPORATION（VIRC）财务数据对比。点击上方公司名可切换其他公司
VIRCO MFG CORPORATION的季度营收约是STEM, INC.的1.0倍（$47.6M vs $47.1M），VIRCO MFG CORPORATION净利率更高（-2.8% vs -33.9%，领先31.1%），STEM, INC.同比增速更快（-15.6% vs -42.3%），过去两年STEM, INC.的营收复合增速更高（36.1% vs 5.7%）
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。
维尔科制造公司（简称Virco）是总部位于美国加利福尼亚州托伦斯的家具制造商，主打教育场景家具产品，核心产品涵盖学生课桌、活动桌、校园及办公座椅、电脑台、轻质折叠桌与布艺沙发椅等。
STEM vs VIRC — 直观对比
营收规模更大
VIRC
是对方的1.0倍
$47.1M
营收增速更快
STEM
高出26.8%
-42.3%
净利率更高
VIRC
高出31.1%
-33.9%
两年增速更快
STEM
近两年复合增速
5.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $47.1M | $47.6M |
| 净利润 | $-16.0M | $-1.3M |
| 毛利率 | 48.9% | 38.0% |
| 营业利润率 | -17.7% | -3.6% |
| 净利率 | -33.9% | -2.8% |
| 营收同比 | -15.6% | -42.3% |
| 净利润同比 | 68.8% | -115.8% |
| 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STEMVIRC
| Q4 25 | $47.1M | $47.6M | ||
| Q3 25 | $38.2M | $92.1M | ||
| Q2 25 | $38.4M | $33.8M | ||
| Q1 25 | $32.5M | $28.5M | ||
| Q4 24 | $55.8M | $82.6M | ||
| Q3 24 | $29.3M | $108.4M | ||
| Q2 24 | $34.0M | $46.7M | ||
| Q1 24 | $25.5M | $42.6M |
净利润STEMVIRC
| Q4 25 | $-16.0M | $-1.3M | ||
| Q3 25 | $-23.8M | $10.2M | ||
| Q2 25 | $202.5M | $732.0K | ||
| Q1 25 | $-25.0M | $-5.7M | ||
| Q4 24 | $-51.1M | $8.4M | ||
| Q3 24 | $-148.3M | $16.8M | ||
| Q2 24 | $-582.3M | $2.1M | ||
| Q1 24 | $-72.3M | $-2.3M |
毛利率STEMVIRC
| Q4 25 | 48.9% | 38.0% | ||
| Q3 25 | 35.5% | 44.4% | ||
| Q2 25 | 33.4% | 47.5% | ||
| Q1 25 | 32.4% | 26.2% | ||
| Q4 24 | -4.4% | 44.4% | ||
| Q3 24 | 21.2% | 46.3% | ||
| Q2 24 | 27.6% | 43.5% | ||
| Q1 24 | -95.0% | 37.7% |
营业利润率STEMVIRC
| Q4 25 | -17.7% | -3.6% | ||
| Q3 25 | -33.6% | 16.7% | ||
| Q2 25 | -34.8% | -0.3% | ||
| Q1 25 | -65.0% | -28.5% | ||
| Q4 24 | -84.4% | 13.5% | ||
| Q3 24 | -493.2% | 20.2% | ||
| Q2 24 | -1705.5% | 6.4% | ||
| Q1 24 | -267.0% | -6.5% |
净利率STEMVIRC
| Q4 25 | -33.9% | -2.8% | ||
| Q3 25 | -62.2% | 11.1% | ||
| Q2 25 | 527.8% | 2.2% | ||
| Q1 25 | -76.9% | -20.1% | ||
| Q4 24 | -91.6% | 10.2% | ||
| Q3 24 | -506.3% | 15.5% | ||
| Q2 24 | -1712.6% | 4.6% | ||
| Q1 24 | -283.9% | -5.5% |
每股收益（稀释后）STEMVIRC
| Q4 25 | $-4.40 | $-0.08 | ||
| Q3 25 | $-2.84 | $0.65 | ||
| Q2 25 | $-1.79 | $0.05 | ||
| Q1 25 | $-0.15 | $-0.37 | ||
| Q4 24 | $-15.29 | $0.52 | ||
| Q3 24 | $-18.24 | $1.04 | ||
| Q2 24 | $-71.81 | $0.13 | ||
| Q1 24 | $-0.46 | $-0.14 |
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 | — |
| 总债务越低越好 | — | $3.9M |
| 股东权益账面价值 | $-249.4M | $113.6M |
| 总资产 | $308.9M | $181.5M |
| 负债/权益比越低杠杆越低 | — | 0.03× |
8季度趋势，按日历期对齐
现金及短期投资STEMVIRC
| Q4 25 | $48.9M | — | ||
| Q3 25 | $43.1M | — | ||
| Q2 25 | $40.8M | — | ||
| Q1 25 | $58.6M | — | ||
| Q4 24 | $56.3M | — | ||
| Q3 24 | $75.4M | — | ||
| Q2 24 | $89.6M | — | ||
| Q1 24 | $112.8M | $5.3M |
总债务STEMVIRC
| Q4 25 | — | $3.9M | ||
| Q3 25 | — | $4.0M | ||
| Q2 25 | — | $4.1M | ||
| Q1 25 | — | $4.1M | ||
| Q4 24 | — | $4.2M | ||
| Q3 24 | — | $4.3M | ||
| Q2 24 | — | $7.0M | ||
| Q1 24 | — | $4.4M |
股东权益STEMVIRC
| Q4 25 | $-249.4M | $113.6M | ||
| Q3 25 | $-235.7M | $115.4M | ||
| Q2 25 | $-214.1M | $105.6M | ||
| Q1 25 | $-417.5M | $109.3M | ||
| Q4 24 | $-398.4M | $115.9M | ||
| Q3 24 | $-344.1M | $107.8M | ||
| Q2 24 | $-203.2M | $91.6M | ||
| Q1 24 | $371.6M | $91.2M |
总资产STEMVIRC
| Q4 25 | $308.9M | $181.5M | ||
| Q3 25 | $362.6M | $198.6M | ||
| Q2 25 | $379.2M | $183.8M | ||
| Q1 25 | $405.1M | $191.9M | ||
| Q4 24 | $437.4M | $210.1M | ||
| Q3 24 | $537.8M | $216.3M | ||
| Q2 24 | $691.5M | $152.5M | ||
| Q1 24 | $1.3B | $146.4M |
负债/权益比STEMVIRC
| Q4 25 | — | 0.03× | ||
| Q3 25 | — | 0.03× | ||
| Q2 25 | — | 0.04× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.08× | ||
| Q1 24 | — | 0.05× |
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 | $25.8M |
| 自由现金流经营现金流 - 资本支出 | — | $24.5M |
| 自由现金流率自由现金流/营收 | — | 51.5% |
| 资本支出强度资本支出/营收 | — | 2.7% |
| 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 | — | $-4.3M |
8季度趋势，按日历期对齐
经营现金流STEMVIRC
| Q4 25 | $8.2M | $25.8M | ||
| Q3 25 | $11.4M | $3.2M | ||
| Q2 25 | $-21.3M | $-19.0M | ||
| Q1 25 | $8.5M | $-8.3M | ||
| Q4 24 | $-14.7M | $33.5M | ||
| Q3 24 | $-9.4M | $12.5M | ||
| Q2 24 | $-11.9M | $-4.5M | ||
| Q1 24 | $-621.0K | $4.7M |
自由现金流STEMVIRC
| Q4 25 | — | $24.5M | ||
| Q3 25 | — | $1.8M | ||
| Q2 25 | — | $-21.5M | ||
| Q1 25 | — | $-9.2M | ||
| Q4 24 | — | $31.0M | ||
| Q3 24 | — | $10.7M | ||
| Q2 24 | — | $-5.6M | ||
| Q1 24 | — | $4.0M |
自由现金流率STEMVIRC
| Q4 25 | — | 51.5% | ||
| Q3 25 | — | 2.0% | ||
| Q2 25 | — | -63.6% | ||
| Q1 25 | — | -32.4% | ||
| Q4 24 | — | 37.5% | ||
| Q3 24 | — | 9.8% | ||
| Q2 24 | — | -12.0% | ||
| Q1 24 | — | 9.5% |
资本支出强度STEMVIRC
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | 7.2% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | 1.5% |
现金转化率STEMVIRC
| Q4 25 | — | — | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | -0.11× | -26.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.98× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | -2.11× | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
