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Target Hospitality Corp.（TH）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Target Hospitality Corp.的1.7倍（$127.1M vs $73.5M），Target Hospitality Corp.同比增速更快（22.0% vs 17.1%），过去两年再鼎医药的营收复合增速更高（20.8% vs 0.7%）
Target Hospitality是一家专业住宿服务提供商，主营石油、天然气及矿业项目用工住宿，也提供大型活动、灾后救援所需的临时模块化住宿，总部位于得克萨斯州伍德兰兹，同时在北达科他州威利斯顿、科罗拉多州丹佛以及阿尔伯塔省卡尔加里设有办事处。
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。
TH vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.7倍
$73.5M
营收增速更快
TH
高出4.9%
17.1%
两年增速更快
ZLAB
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $73.5M | $127.1M |
| 净利润 | $-14.9M | — |
| 毛利率 | 9.6% | 51.0% |
| 营业利润率 | -22.9% | -54.6% |
| 净利率 | -20.3% | — |
| 营收同比 | 22.0% | 17.1% |
| 净利润同比 | -219.1% | — |
| 每股收益（稀释后） | $-0.14 | $-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THZLAB
| Q4 25 | $73.5M | $127.1M | ||
| Q3 25 | $91.6M | $115.4M | ||
| Q2 25 | $54.9M | $109.1M | ||
| Q1 25 | $54.9M | $105.7M | ||
| Q4 24 | $60.2M | $108.5M | ||
| Q3 24 | $65.8M | $101.8M | ||
| Q2 24 | $67.5M | $100.1M | ||
| Q1 24 | $72.4M | $87.1M |
净利润THZLAB
| Q4 25 | $-14.9M | — | ||
| Q3 25 | $-795.0K | $-36.0M | ||
| Q2 25 | $-14.9M | $-40.7M | ||
| Q1 25 | $-6.5M | $-48.4M | ||
| Q4 24 | $12.5M | — | ||
| Q3 24 | $20.0M | $-41.7M | ||
| Q2 24 | $18.4M | $-80.3M | ||
| Q1 24 | $20.4M | $-53.5M |
毛利率THZLAB
| Q4 25 | 9.6% | 51.0% | ||
| Q3 25 | 19.6% | 59.5% | ||
| Q2 25 | -0.6% | 60.6% | ||
| Q1 25 | 32.7% | 63.6% | ||
| Q4 24 | 61.5% | 61.5% | ||
| Q3 24 | 68.7% | 64.1% | ||
| Q2 24 | 69.4% | 64.9% | ||
| Q1 24 | 67.8% | 61.4% |
营业利润率THZLAB
| Q4 25 | -22.9% | -54.6% | ||
| Q3 25 | 0.1% | -42.3% | ||
| Q2 25 | -30.8% | -50.3% | ||
| Q1 25 | -2.0% | -53.3% | ||
| Q4 24 | 34.5% | -62.6% | ||
| Q3 24 | 42.5% | -66.6% | ||
| Q2 24 | 43.8% | -76.0% | ||
| Q1 24 | 42.0% | -80.7% |
净利率THZLAB
| Q4 25 | -20.3% | — | ||
| Q3 25 | -0.9% | -31.2% | ||
| Q2 25 | -27.2% | -37.3% | ||
| Q1 25 | -11.8% | -45.8% | ||
| Q4 24 | 20.8% | — | ||
| Q3 24 | 30.4% | -40.9% | ||
| Q2 24 | 27.2% | -80.2% | ||
| Q1 24 | 28.2% | -61.4% |
每股收益（稀释后）THZLAB
| Q4 25 | $-0.14 | $-0.05 | ||
| Q3 25 | $-0.01 | $-0.03 | ||
| Q2 25 | $-0.15 | $-0.04 | ||
| Q1 25 | $-0.07 | $-0.04 | ||
| Q4 24 | $0.12 | $-0.09 | ||
| Q3 24 | $0.20 | $-0.04 | ||
| Q2 24 | $0.18 | $-0.08 | ||
| Q1 24 | $0.20 | $-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 | $8.3M | $689.6M |
| 总债务越低越好 | $1.7M | — |
| 股东权益账面价值 | $389.3M | $715.5M |
| 总资产 | $530.2M | $1.2B |
| 负债/权益比越低杠杆越低 | 0.00× | — |
8季度趋势，按日历期对齐
现金及短期投资THZLAB
| Q4 25 | $8.3M | $689.6M | ||
| Q3 25 | $30.4M | $717.2M | ||
| Q2 25 | $19.2M | $732.2M | ||
| Q1 25 | $34.5M | $757.3M | ||
| Q4 24 | $190.7M | $779.7M | ||
| Q3 24 | $177.7M | $616.1M | ||
| Q2 24 | $154.3M | $630.0M | ||
| Q1 24 | $124.3M | $650.8M |
总债务THZLAB
| Q4 25 | $1.7M | — | ||
| Q3 25 | $2.0M | — | ||
| Q2 25 | $26.3M | — | ||
| Q1 25 | $42.9M | — | ||
| Q4 24 | $1.5M | — | ||
| Q3 24 | $994.0K | — | ||
| Q2 24 | $1.1M | — | ||
| Q1 24 | $179.9M | — |
股东权益THZLAB
| Q4 25 | $389.3M | $715.5M | ||
| Q3 25 | $402.4M | $759.9M | ||
| Q2 25 | $401.3M | $791.7M | ||
| Q1 25 | $415.3M | $810.8M | ||
| Q4 24 | $421.1M | $840.9M | ||
| Q3 24 | $417.6M | $667.7M | ||
| Q2 24 | $397.2M | $704.2M | ||
| Q1 24 | $375.5M | $762.2M |
总资产THZLAB
| Q4 25 | $530.2M | $1.2B | ||
| Q3 25 | $541.2M | $1.2B | ||
| Q2 25 | $533.7M | $1.2B | ||
| Q1 25 | $562.5M | $1.2B | ||
| Q4 24 | $725.8M | $1.2B | ||
| Q3 24 | $709.8M | $985.3M | ||
| Q2 24 | $697.0M | $987.4M | ||
| Q1 24 | $687.2M | $988.4M |
负债/权益比THZLAB
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.01× | — | ||
| Q2 25 | 0.07× | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 0.48× | — |
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 | $5.7M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-26.7M |
| 自由现金流率自由现金流/营收 | — | -21.0% |
| 资本支出强度资本支出/营收 | — | 0.5% |
| 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 | — | $-158.9M |
8季度趋势，按日历期对齐
经营现金流THZLAB
| Q4 25 | $5.7M | $-26.0M | ||
| Q3 25 | $53.4M | $-32.0M | ||
| Q2 25 | $11.1M | $-31.0M | ||
| Q1 25 | $3.9M | $-61.7M | ||
| Q4 24 | $30.6M | $-55.8M | ||
| Q3 24 | $31.4M | $-26.8M | ||
| Q2 24 | $39.1M | $-42.2M | ||
| Q1 24 | $50.6M | $-90.1M |
自由现金流THZLAB
| Q4 25 | — | $-26.7M | ||
| Q3 25 | — | $-35.0M | ||
| Q2 25 | — | $-33.9M | ||
| Q1 25 | $-11.6M | $-63.2M | ||
| Q4 24 | — | $-58.4M | ||
| Q3 24 | — | $-28.2M | ||
| Q2 24 | — | $-42.9M | ||
| Q1 24 | — | $-91.1M |
自由现金流率THZLAB
| Q4 25 | — | -21.0% | ||
| Q3 25 | — | -30.4% | ||
| Q2 25 | — | -31.1% | ||
| Q1 25 | -21.1% | -59.9% | ||
| Q4 24 | — | -53.8% | ||
| Q3 24 | — | -27.7% | ||
| Q2 24 | — | -42.9% | ||
| Q1 24 | — | -104.5% |
资本支出强度THZLAB
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | 28.2% | 1.5% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 1.1% |
现金转化率THZLAB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.44× | — | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 2.13× | — | ||
| Q1 24 | 2.48× | — |
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
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
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% |
