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Townsquare Media, Inc.（TSQ）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Townsquare Media, Inc.的1.2倍（$127.1M vs $106.5M），再鼎医药同比增速更快（17.1% vs -9.6%），Townsquare Media, Inc.自由现金流更多（$9.2M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 3.4%）
Townsquare Media是总部位于美国纽约州帕切斯的广播电台网络与传媒企业，该公司起步于广播业务，在2000年代末通过收购MOG音乐网络，逐步拓展数字媒体业务。截至2024年6月，Townsquare Media是美国第三大调幅调频广播运营商，在全国74个市场共拥有349家电台。
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。
TSQ vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.2倍
$106.5M
营收增速更快
ZLAB
高出26.7%
-9.6%
自由现金流更多
TSQ
多$35.9M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
3.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $106.5M | $127.1M |
| 净利润 | $-5.2M | — |
| 毛利率 | 24.1% | 51.0% |
| 营业利润率 | 9.5% | -54.6% |
| 净利率 | -4.9% | — |
| 营收同比 | -9.6% | 17.1% |
| 净利润同比 | -121.2% | — |
| 每股收益（稀释后） | — | $-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TSQZLAB
| Q4 25 | $106.5M | $127.1M | ||
| Q3 25 | $106.8M | $115.4M | ||
| Q2 25 | $115.4M | $109.1M | ||
| Q1 25 | $98.7M | $105.7M | ||
| Q4 24 | $117.8M | $108.5M | ||
| Q3 24 | $115.3M | $101.8M | ||
| Q2 24 | $118.2M | $100.1M | ||
| Q1 24 | $99.6M | $87.1M |
净利润TSQZLAB
| Q4 25 | $-5.2M | — | ||
| Q3 25 | $-5.9M | $-36.0M | ||
| Q2 25 | $1.6M | $-40.7M | ||
| Q1 25 | $-2.0M | $-48.4M | ||
| Q4 24 | $24.6M | — | ||
| Q3 24 | $10.8M | $-41.7M | ||
| Q2 24 | $-49.2M | $-80.3M | ||
| Q1 24 | $1.1M | $-53.5M |
毛利率TSQZLAB
| Q4 25 | 24.1% | 51.0% | ||
| Q3 25 | 26.2% | 59.5% | ||
| Q2 25 | 28.3% | 60.6% | ||
| Q1 25 | 23.2% | 63.6% | ||
| Q4 24 | 31.6% | 61.5% | ||
| Q3 24 | 27.3% | 64.1% | ||
| Q2 24 | 27.7% | 64.9% | ||
| Q1 24 | 22.8% | 61.4% |
营业利润率TSQZLAB
| Q4 25 | 9.5% | -54.6% | ||
| Q3 25 | 5.6% | -42.3% | ||
| Q2 25 | 18.2% | -50.3% | ||
| Q1 25 | 7.2% | -53.3% | ||
| Q4 24 | 18.1% | -62.6% | ||
| Q3 24 | 13.1% | -66.6% | ||
| Q2 24 | -18.1% | -76.0% | ||
| Q1 24 | 6.7% | -80.7% |
净利率TSQZLAB
| Q4 25 | -4.9% | — | ||
| Q3 25 | -5.5% | -31.2% | ||
| Q2 25 | 1.4% | -37.3% | ||
| Q1 25 | -2.0% | -45.8% | ||
| Q4 24 | 20.8% | — | ||
| Q3 24 | 9.4% | -40.9% | ||
| Q2 24 | -41.7% | -80.2% | ||
| Q1 24 | 1.1% | -61.4% |
每股收益（稀释后）TSQZLAB
| Q4 25 | — | $-0.05 | ||
| Q3 25 | $-0.36 | $-0.03 | ||
| Q2 25 | $0.09 | $-0.04 | ||
| Q1 25 | $-0.12 | $-0.04 | ||
| Q4 24 | $1.76 | $-0.09 | ||
| Q3 24 | $0.63 | $-0.04 | ||
| Q2 24 | $-3.26 | $-0.08 | ||
| Q1 24 | $0.06 | $-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 | $4.8M | $689.6M |
| 总债务越低越好 | $433.0M | — |
| 股东权益账面价值 | $-41.0M | $715.5M |
| 总资产 | $528.6M | $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TSQZLAB
| Q4 25 | $4.8M | $689.6M | ||
| Q3 25 | $3.2M | $717.2M | ||
| Q2 25 | $3.2M | $732.2M | ||
| Q1 25 | $5.5M | $757.3M | ||
| Q4 24 | $33.0M | $779.7M | ||
| Q3 24 | $21.8M | $616.1M | ||
| Q2 24 | $28.5M | $630.0M | ||
| Q1 24 | $56.6M | $650.8M |
总债务TSQZLAB
| Q4 25 | $433.0M | — | ||
| Q3 25 | $437.6M | — | ||
| Q2 25 | $439.7M | — | ||
| Q1 25 | $448.4M | — | ||
| Q4 24 | $465.8M | — | ||
| Q3 24 | $476.7M | — | ||
| Q2 24 | $487.1M | — | ||
| Q1 24 | $500.1M | — |
股东权益TSQZLAB
| Q4 25 | $-41.0M | $715.5M | ||
| Q3 25 | $-34.0M | $759.9M | ||
| Q2 25 | $-27.1M | $791.7M | ||
| Q1 25 | $-26.8M | $810.8M | ||
| Q4 24 | $-28.4M | $840.9M | ||
| Q3 24 | $-52.5M | $667.7M | ||
| Q2 24 | $-64.1M | $704.2M | ||
| Q1 24 | $1.8M | $762.2M |
总资产TSQZLAB
| Q4 25 | $528.6M | $1.2B | ||
| Q3 25 | $539.2M | $1.2B | ||
| Q2 25 | $545.7M | $1.2B | ||
| Q1 25 | $544.5M | $1.2B | ||
| Q4 24 | $580.4M | $1.2B | ||
| Q3 24 | $565.4M | $985.3M | ||
| Q2 24 | $579.6M | $987.4M | ||
| Q1 24 | $636.7M | $988.4M |
负债/权益比TSQZLAB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 271.80× | — |
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 | $12.6M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $9.2M | $-26.7M |
| 自由现金流率自由现金流/营收 | 8.6% | -21.0% |
| 资本支出强度资本支出/营收 | 3.2% | 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 | $15.4M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流TSQZLAB
| Q4 25 | $12.6M | $-26.0M | ||
| Q3 25 | $7.9M | $-32.0M | ||
| Q2 25 | $10.2M | $-31.0M | ||
| Q1 25 | $-66.0K | $-61.7M | ||
| Q4 24 | $28.2M | $-55.8M | ||
| Q3 24 | $9.9M | $-26.8M | ||
| Q2 24 | $9.0M | $-42.2M | ||
| Q1 24 | $1.7M | $-90.1M |
自由现金流TSQZLAB
| Q4 25 | $9.2M | $-26.7M | ||
| Q3 25 | $4.3M | $-35.0M | ||
| Q2 25 | $6.4M | $-33.9M | ||
| Q1 25 | $-4.5M | $-63.2M | ||
| Q4 24 | $24.5M | $-58.4M | ||
| Q3 24 | $4.8M | $-28.2M | ||
| Q2 24 | $4.8M | $-42.9M | ||
| Q1 24 | $-2.8M | $-91.1M |
自由现金流率TSQZLAB
| Q4 25 | 8.6% | -21.0% | ||
| Q3 25 | 4.1% | -30.4% | ||
| Q2 25 | 5.5% | -31.1% | ||
| Q1 25 | -4.6% | -59.9% | ||
| Q4 24 | 20.8% | -53.8% | ||
| Q3 24 | 4.1% | -27.7% | ||
| Q2 24 | 4.0% | -42.9% | ||
| Q1 24 | -2.8% | -104.5% |
资本支出强度TSQZLAB
| Q4 25 | 3.2% | 0.5% | ||
| Q3 25 | 3.3% | 2.6% | ||
| Q2 25 | 3.3% | 2.6% | ||
| Q1 25 | 4.5% | 1.5% | ||
| Q4 24 | 3.1% | 2.4% | ||
| Q3 24 | 4.4% | 1.3% | ||
| Q2 24 | 3.6% | 0.7% | ||
| Q1 24 | 4.4% | 1.1% |
现金转化率TSQZLAB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 6.51× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.15× | — | ||
| Q3 24 | 0.91× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.47× | — |
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
TSQ
| Broadcast Advertising Segment | $46.4M | 44% |
| Digital Advertising Segment | $41.7M | 39% |
| Subscription Digital Marketing Solutions Segment | $18.4M | 17% |
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% |
