vs
Turtle Beach Corp（TBCH）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
再鼎医药的季度营收约是Turtle Beach Corp的1.3倍（$127.1M vs $95.1M），再鼎医药同比增速更快（17.1% vs -34.9%），Turtle Beach Corp自由现金流更多（$13.1M vs $-26.7M），过去两年Turtle Beach Corp的营收复合增速更高（30.5% vs 20.8%）
乌龟海滩公司是总部位于美国加利福尼亚州圣地亚哥的游戏外设制造商，品牌历史可追溯至20世纪70年代，最初业务为开发声卡、MIDI合成器、各类音频软件与网络音频设备，自2005年起开始生产游戏耳机，是游戏音频外设领域的资深厂商。
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。
TBCH vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.3倍
$95.1M
营收增速更快
ZLAB
高出52.0%
-34.9%
自由现金流更多
TBCH
多$39.8M
$-26.7M
两年增速更快
TBCH
近两年复合增速
20.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $95.1M | $127.1M |
| 净利润 | $17.6M | — |
| 毛利率 | 50.0% | 51.0% |
| 营业利润率 | 22.0% | -54.6% |
| 净利率 | 18.5% | — |
| 营收同比 | -34.9% | 17.1% |
| 净利润同比 | -12.6% | — |
| 每股收益（稀释后） | $0.86 | $-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TBCHZLAB
| Q4 25 | $95.1M | $127.1M | ||
| Q3 25 | $80.5M | $115.4M | ||
| Q2 25 | $80.5M | $109.1M | ||
| Q1 25 | $63.9M | $105.7M | ||
| Q4 24 | $146.1M | $108.5M | ||
| Q3 24 | $94.4M | $101.8M | ||
| Q2 24 | $76.5M | $100.1M | ||
| Q1 24 | $55.8M | $87.1M |
净利润TBCHZLAB
| Q4 25 | $17.6M | — | ||
| Q3 25 | $1.7M | $-36.0M | ||
| Q2 25 | $-2.9M | $-40.7M | ||
| Q1 25 | $-664.0K | $-48.4M | ||
| Q4 24 | $20.1M | — | ||
| Q3 24 | $3.4M | $-41.7M | ||
| Q2 24 | $-7.5M | $-80.3M | ||
| Q1 24 | $155.0K | $-53.5M |
毛利率TBCHZLAB
| Q4 25 | 50.0% | 51.0% | ||
| Q3 25 | 37.4% | 59.5% | ||
| Q2 25 | 22.7% | 60.6% | ||
| Q1 25 | 36.6% | 63.6% | ||
| Q4 24 | 37.0% | 61.5% | ||
| Q3 24 | 36.2% | 64.1% | ||
| Q2 24 | 30.2% | 64.9% | ||
| Q1 24 | 31.8% | 61.4% |
营业利润率TBCHZLAB
| Q4 25 | 22.0% | -54.6% | ||
| Q3 25 | 6.7% | -42.3% | ||
| Q2 25 | -0.4% | -50.3% | ||
| Q1 25 | 2.4% | -53.3% | ||
| Q4 24 | 16.0% | -62.6% | ||
| Q3 24 | 6.8% | -66.6% | ||
| Q2 24 | -5.4% | -76.0% | ||
| Q1 24 | -10.2% | -80.7% |
净利率TBCHZLAB
| Q4 25 | 18.5% | — | ||
| Q3 25 | 2.1% | -31.2% | ||
| Q2 25 | -3.6% | -37.3% | ||
| Q1 25 | -1.0% | -45.8% | ||
| Q4 24 | 13.8% | — | ||
| Q3 24 | 3.6% | -40.9% | ||
| Q2 24 | -9.8% | -80.2% | ||
| Q1 24 | 0.3% | -61.4% |
每股收益（稀释后）TBCHZLAB
| Q4 25 | $0.86 | $-0.05 | ||
| Q3 25 | $0.08 | $-0.03 | ||
| Q2 25 | $-0.14 | $-0.04 | ||
| Q1 25 | $-0.03 | $-0.04 | ||
| Q4 24 | $0.96 | $-0.09 | ||
| Q3 24 | $0.16 | $-0.04 | ||
| Q2 24 | $-0.35 | $-0.08 | ||
| Q1 24 | $0.01 | $-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 | $17.0M | $689.6M |
| 总债务越低越好 | $55.7M | — |
| 股东权益账面价值 | $128.5M | $715.5M |
| 总资产 | $269.1M | $1.2B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
现金及短期投资TBCHZLAB
| Q4 25 | $17.0M | $689.6M | ||
| Q3 25 | $12.3M | $717.2M | ||
| Q2 25 | $11.7M | $732.2M | ||
| Q1 25 | $11.7M | $757.3M | ||
| Q4 24 | $13.0M | $779.7M | ||
| Q3 24 | $13.8M | $616.1M | ||
| Q2 24 | $12.5M | $630.0M | ||
| Q1 24 | $17.8M | $650.8M |
总债务TBCHZLAB
| Q4 25 | $55.7M | — | ||
| Q3 25 | $57.9M | — | ||
| Q2 25 | $43.3M | — | ||
| Q1 25 | $48.6M | — | ||
| Q4 24 | $49.0M | — | ||
| Q3 24 | $49.3M | — | ||
| Q2 24 | $49.6M | — | ||
| Q1 24 | $49.9M | — |
股东权益TBCHZLAB
| Q4 25 | $128.5M | $715.5M | ||
| Q3 25 | $110.7M | $759.9M | ||
| Q2 25 | $116.8M | $791.7M | ||
| Q1 25 | $120.9M | $810.8M | ||
| Q4 24 | $120.6M | $840.9M | ||
| Q3 24 | $101.8M | $667.7M | ||
| Q2 24 | $105.3M | $704.2M | ||
| Q1 24 | $125.2M | $762.2M |
总资产TBCHZLAB
| Q4 25 | $269.1M | $1.2B | ||
| Q3 25 | $278.2M | $1.2B | ||
| Q2 25 | $240.2M | $1.2B | ||
| Q1 25 | $247.0M | $1.2B | ||
| Q4 24 | $298.9M | $1.2B | ||
| Q3 24 | $313.2M | $985.3M | ||
| Q2 24 | $264.4M | $987.4M | ||
| Q1 24 | $258.4M | $988.4M |
负债/权益比TBCHZLAB
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.52× | — | ||
| Q2 25 | 0.37× | — | ||
| Q1 25 | 0.40× | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.48× | — | ||
| Q2 24 | 0.47× | — | ||
| Q1 24 | 0.40× | — |
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 | $13.3M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $13.1M | $-26.7M |
| 自由现金流率自由现金流/营收 | 13.8% | -21.0% |
| 资本支出强度资本支出/营收 | 0.3% | 0.5% |
| 现金转化率经营现金流/净利润 | 0.76× | — |
| 过去12个月自由现金流最近4个季度 | $34.0M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流TBCHZLAB
| Q4 25 | $13.3M | $-26.0M | ||
| Q3 25 | $-15.2M | $-32.0M | ||
| Q2 25 | $-3.1M | $-31.0M | ||
| Q1 25 | $40.5M | $-61.7M | ||
| Q4 24 | $14.3M | $-55.8M | ||
| Q3 24 | $-23.2M | $-26.8M | ||
| Q2 24 | $-12.6M | $-42.2M | ||
| Q1 24 | $27.3M | $-90.1M |
自由现金流TBCHZLAB
| Q4 25 | $13.1M | $-26.7M | ||
| Q3 25 | $-15.9M | $-35.0M | ||
| Q2 25 | $-3.5M | $-33.9M | ||
| Q1 25 | $40.3M | $-63.2M | ||
| Q4 24 | $12.8M | $-58.4M | ||
| Q3 24 | $-24.6M | $-28.2M | ||
| Q2 24 | $-13.9M | $-42.9M | ||
| Q1 24 | $26.5M | $-91.1M |
自由现金流率TBCHZLAB
| Q4 25 | 13.8% | -21.0% | ||
| Q3 25 | -19.7% | -30.4% | ||
| Q2 25 | -4.3% | -31.1% | ||
| Q1 25 | 63.0% | -59.9% | ||
| Q4 24 | 8.8% | -53.8% | ||
| Q3 24 | -26.1% | -27.7% | ||
| Q2 24 | -18.1% | -42.9% | ||
| Q1 24 | 47.5% | -104.5% |
资本支出强度TBCHZLAB
| Q4 25 | 0.3% | 0.5% | ||
| Q3 25 | 0.8% | 2.6% | ||
| Q2 25 | 0.4% | 2.6% | ||
| Q1 25 | 0.3% | 1.5% | ||
| Q4 24 | 1.0% | 2.4% | ||
| Q3 24 | 1.5% | 1.3% | ||
| Q2 24 | 1.6% | 0.7% | ||
| Q1 24 | 1.3% | 1.1% |
现金转化率TBCHZLAB
| Q4 25 | 0.76× | — | ||
| Q3 25 | -8.84× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.71× | — | ||
| Q3 24 | -6.79× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 175.85× | — |
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
TBCH
| Europe And Middle East | $71.0M | 75% |
| Asia Pacific | $13.3M | 14% |
| Other | $10.8M | 11% |
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% |
