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Wheels Up Experience Inc.（UP）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
Wheels Up Experience Inc.的季度营收约是再鼎医药的1.4倍（$183.8M vs $127.1M），再鼎医药同比增速更快（17.1% vs -10.2%），再鼎医药自由现金流更多（$-26.7M vs $-58.3M），过去两年再鼎医药的营收复合增速更高（20.8% vs -3.4%）
Wheels Up是美国领先的按需私人航空服务提供商，也是全球规模最大的私人航空企业之一。公司由肯尼·迪希特创立于2013年，采用会员制按需服务的商业模式，会员可通过移动应用程序，从公司自有机队及第三方运营商处预订私人飞机出行。
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。
UP vs ZLAB — 直观对比
营收规模更大
UP
是对方的1.4倍
$127.1M
营收增速更快
ZLAB
高出27.4%
-10.2%
自由现金流更多
ZLAB
多$31.6M
$-58.3M
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 | $183.8M | $127.1M |
| 净利润 | $-28.9M | — |
| 毛利率 | 14.3% | 51.0% |
| 营业利润率 | -0.9% | -54.6% |
| 净利率 | -15.7% | — |
| 营收同比 | -10.2% | 17.1% |
| 净利润同比 | 67.0% | — |
| 每股收益（稀释后） | $-0.04 | $-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UPZLAB
| Q4 25 | $183.8M | $127.1M | ||
| Q3 25 | $185.5M | $115.4M | ||
| Q2 25 | $189.6M | $109.1M | ||
| Q1 25 | $177.5M | $105.7M | ||
| Q4 24 | $204.8M | $108.5M | ||
| Q3 24 | $193.9M | $101.8M | ||
| Q2 24 | $196.3M | $100.1M | ||
| Q1 24 | $197.1M | $87.1M |
净利润UPZLAB
| Q4 25 | $-28.9M | — | ||
| Q3 25 | $-83.7M | $-36.0M | ||
| Q2 25 | $-82.3M | $-40.7M | ||
| Q1 25 | $-99.3M | $-48.4M | ||
| Q4 24 | $-87.5M | — | ||
| Q3 24 | $-57.7M | $-41.7M | ||
| Q2 24 | $-97.0M | $-80.3M | ||
| Q1 24 | $-97.4M | $-53.5M |
毛利率UPZLAB
| Q4 25 | 14.3% | 51.0% | ||
| Q3 25 | 6.8% | 59.5% | ||
| Q2 25 | 8.3% | 60.6% | ||
| Q1 25 | 10.8% | 63.6% | ||
| Q4 24 | 13.9% | 61.5% | ||
| Q3 24 | 13.9% | 64.1% | ||
| Q2 24 | 2.3% | 64.9% | ||
| Q1 24 | -0.6% | 61.4% |
营业利润率UPZLAB
| Q4 25 | -0.9% | -54.6% | ||
| Q3 25 | -33.1% | -42.3% | ||
| Q2 25 | -31.4% | -50.3% | ||
| Q1 25 | -45.5% | -53.3% | ||
| Q4 24 | -26.0% | -62.6% | ||
| Q3 24 | -21.6% | -66.6% | ||
| Q2 24 | -40.3% | -76.0% | ||
| Q1 24 | -42.9% | -80.7% |
净利率UPZLAB
| Q4 25 | -15.7% | — | ||
| Q3 25 | -45.1% | -31.2% | ||
| Q2 25 | -43.4% | -37.3% | ||
| Q1 25 | -55.9% | -45.8% | ||
| Q4 24 | -42.7% | — | ||
| Q3 24 | -29.8% | -40.9% | ||
| Q2 24 | -49.4% | -80.2% | ||
| Q1 24 | -49.4% | -61.4% |
每股收益（稀释后）UPZLAB
| Q4 25 | $-0.04 | $-0.05 | ||
| Q3 25 | $-0.12 | $-0.03 | ||
| Q2 25 | $-0.12 | $-0.04 | ||
| Q1 25 | $-0.14 | $-0.04 | ||
| Q4 24 | $-0.13 | $-0.09 | ||
| Q3 24 | $-0.08 | $-0.04 | ||
| Q2 24 | $-0.14 | $-0.08 | ||
| Q1 24 | $-0.14 | $-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 | $133.9M | $689.6M |
| 总债务越低越好 | $671.3M | — |
| 股东权益账面价值 | $-392.1M | $715.5M |
| 总资产 | $968.8M | $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UPZLAB
| Q4 25 | $133.9M | $689.6M | ||
| Q3 25 | $125.3M | $717.2M | ||
| Q2 25 | $107.0M | $732.2M | ||
| Q1 25 | $171.8M | $757.3M | ||
| Q4 24 | $216.4M | $779.7M | ||
| Q3 24 | $115.9M | $616.1M | ||
| Q2 24 | $141.5M | $630.0M | ||
| Q1 24 | $180.9M | $650.8M |
总债务UPZLAB
| Q4 25 | $671.3M | — | ||
| Q3 25 | $766.5M | — | ||
| Q2 25 | $770.5M | — | ||
| Q1 25 | $765.8M | — | ||
| Q4 24 | $761.3M | — | ||
| Q3 24 | $596.9M | — | ||
| Q2 24 | $597.4M | — | ||
| Q1 24 | $603.2M | — |
股东权益UPZLAB
| Q4 25 | $-392.1M | $715.5M | ||
| Q3 25 | $-374.5M | $759.9M | ||
| Q2 25 | $-347.8M | $791.7M | ||
| Q1 25 | $-288.1M | $810.8M | ||
| Q4 24 | $-202.1M | $840.9M | ||
| Q3 24 | $-117.7M | $667.7M | ||
| Q2 24 | $-72.2M | $704.2M | ||
| Q1 24 | $936.0K | $762.2M |
总资产UPZLAB
| Q4 25 | $968.8M | $1.2B | ||
| Q3 25 | $973.0M | $1.2B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $1.1B | $1.2B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $1.0B | $985.3M | ||
| Q2 24 | $1.1B | $987.4M | ||
| Q1 24 | $1.2B | $988.4M |
负债/权益比UPZLAB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 644.43× | — |
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 | $-18.4M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-58.3M | $-26.7M |
| 自由现金流率自由现金流/营收 | -31.7% | -21.0% |
| 资本支出强度资本支出/营收 | 21.7% | 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 | $-259.9M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流UPZLAB
| Q4 25 | $-18.4M | $-26.0M | ||
| Q3 25 | $-37.1M | $-32.0M | ||
| Q2 25 | $-62.9M | $-31.0M | ||
| Q1 25 | $-47.9M | $-61.7M | ||
| Q4 24 | $37.9M | $-55.8M | ||
| Q3 24 | $-16.9M | $-26.8M | ||
| Q2 24 | $-25.2M | $-42.2M | ||
| Q1 24 | $-73.8M | $-90.1M |
自由现金流UPZLAB
| Q4 25 | $-58.3M | $-26.7M | ||
| Q3 25 | $-60.4M | $-35.0M | ||
| Q2 25 | $-78.6M | $-33.9M | ||
| Q1 25 | $-62.6M | $-63.2M | ||
| Q4 24 | $-70.2M | $-58.4M | ||
| Q3 24 | $-21.9M | $-28.2M | ||
| Q2 24 | $-30.8M | $-42.9M | ||
| Q1 24 | $-77.8M | $-91.1M |
自由现金流率UPZLAB
| Q4 25 | -31.7% | -21.0% | ||
| Q3 25 | -32.6% | -30.4% | ||
| Q2 25 | -41.5% | -31.1% | ||
| Q1 25 | -35.3% | -59.9% | ||
| Q4 24 | -34.3% | -53.8% | ||
| Q3 24 | -11.3% | -27.7% | ||
| Q2 24 | -15.7% | -42.9% | ||
| Q1 24 | -39.5% | -104.5% |
资本支出强度UPZLAB
| Q4 25 | 21.7% | 0.5% | ||
| Q3 25 | 12.5% | 2.6% | ||
| Q2 25 | 8.3% | 2.6% | ||
| Q1 25 | 8.3% | 1.5% | ||
| Q4 24 | 52.8% | 2.4% | ||
| Q3 24 | 2.6% | 1.3% | ||
| Q2 24 | 2.9% | 0.7% | ||
| Q1 24 | 2.0% | 1.1% |
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
UP
暂无分部数据
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% |
