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Via Renewables, Inc.（VIASP）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
Via Renewables, Inc.的季度营收约是再鼎医药的1.0倍（$127.8M vs $127.1M），Via Renewables, Inc.同比增速更快（22.5% vs 17.1%），Via Renewables, Inc.自由现金流更多（$-4.8M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 5.9%）
EDF电力解决方案是法国电力集团旗下全资子公司，专注可再生能源发电业务。作为一体化运营商，该集团开展可再生能源项目开发与融资，推进设施建设，同时为自有及第三方的可再生能源项目提供运营与维护服务。
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。
VIASP vs ZLAB — 直观对比
营收规模更大
VIASP
是对方的1.0倍
$127.1M
营收增速更快
VIASP
高出5.4%
17.1%
自由现金流更多
VIASP
多$21.9M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
5.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $127.8M | $127.1M |
| 净利润 | $6.9M | — |
| 毛利率 | 34.4% | 51.0% |
| 营业利润率 | 15.2% | -54.6% |
| 净利率 | 5.4% | — |
| 营收同比 | 22.5% | 17.1% |
| 净利润同比 | -30.9% | — |
| 每股收益（稀释后） | $1.19 | $-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VIASPZLAB
| Q4 25 | $127.8M | $127.1M | ||
| Q3 25 | $103.3M | $115.4M | ||
| Q2 25 | $90.0M | $109.1M | ||
| Q1 25 | $142.3M | $105.7M | ||
| Q4 24 | $104.3M | $108.5M | ||
| Q3 24 | $93.8M | $101.8M | ||
| Q2 24 | $86.7M | $100.1M | ||
| Q1 24 | $114.1M | $87.1M |
净利润VIASPZLAB
| Q4 25 | $6.9M | — | ||
| Q3 25 | $757.0K | $-36.0M | ||
| Q2 25 | $2.7M | $-40.7M | ||
| Q1 25 | $8.8M | $-48.4M | ||
| Q4 24 | $9.9M | — | ||
| Q3 24 | $2.1M | $-41.7M | ||
| Q2 24 | $7.6M | $-80.3M | ||
| Q1 24 | $8.6M | $-53.5M |
毛利率VIASPZLAB
| Q4 25 | 34.4% | 51.0% | ||
| Q3 25 | 23.1% | 59.5% | ||
| Q2 25 | 30.0% | 60.6% | ||
| Q1 25 | 32.9% | 63.6% | ||
| Q4 24 | 51.9% | 61.5% | ||
| Q3 24 | 26.8% | 64.1% | ||
| Q2 24 | 50.4% | 64.9% | ||
| Q1 24 | 39.5% | 61.4% |
营业利润率VIASPZLAB
| Q4 25 | 15.2% | -54.6% | ||
| Q3 25 | 3.1% | -42.3% | ||
| Q2 25 | 6.7% | -50.3% | ||
| Q1 25 | 17.5% | -53.3% | ||
| Q4 24 | 31.5% | -62.6% | ||
| Q3 24 | 5.3% | -66.6% | ||
| Q2 24 | 23.8% | -76.0% | ||
| Q1 24 | 22.6% | -80.7% |
净利率VIASPZLAB
| Q4 25 | 5.4% | — | ||
| Q3 25 | 0.7% | -31.2% | ||
| Q2 25 | 3.0% | -37.3% | ||
| Q1 25 | 6.2% | -45.8% | ||
| Q4 24 | 9.5% | — | ||
| Q3 24 | 2.3% | -40.9% | ||
| Q2 24 | 8.8% | -80.2% | ||
| Q1 24 | 7.5% | -61.4% |
每股收益（稀释后）VIASPZLAB
| Q4 25 | $1.19 | $-0.05 | ||
| Q3 25 | $-0.41 | $-0.03 | ||
| Q2 25 | $0.09 | $-0.04 | ||
| Q1 25 | $1.83 | $-0.04 | ||
| Q4 24 | $2.33 | $-0.09 | ||
| Q3 24 | $-0.17 | $-0.04 | ||
| Q2 24 | $1.51 | $-0.08 | ||
| Q1 24 | $1.81 | $-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 | $41.8M | $689.6M |
| 总债务越低越好 | $120.0M | — |
| 股东权益账面价值 | $67.7M | $715.5M |
| 总资产 | $331.3M | $1.2B |
| 负债/权益比越低杠杆越低 | 1.77× | — |
8季度趋势，按日历期对齐
现金及短期投资VIASPZLAB
| Q4 25 | $41.8M | $689.6M | ||
| Q3 25 | $53.6M | $717.2M | ||
| Q2 25 | $62.1M | $732.2M | ||
| Q1 25 | $64.7M | $757.3M | ||
| Q4 24 | $53.1M | $779.7M | ||
| Q3 24 | $66.6M | $616.1M | ||
| Q2 24 | $53.6M | $630.0M | ||
| Q1 24 | $50.4M | $650.8M |
总债务VIASPZLAB
| Q4 25 | $120.0M | — | ||
| Q3 25 | $105.0M | — | ||
| Q2 25 | $100.0M | — | ||
| Q1 25 | $101.0M | — | ||
| Q4 24 | $106.0M | — | ||
| Q3 24 | $89.0M | — | ||
| Q2 24 | $93.0M | — | ||
| Q1 24 | $91.0M | — |
股东权益VIASPZLAB
| Q4 25 | $67.7M | $715.5M | ||
| Q3 25 | $63.7M | $759.9M | ||
| Q2 25 | $68.2M | $791.7M | ||
| Q1 25 | $72.7M | $810.8M | ||
| Q4 24 | $66.7M | $840.9M | ||
| Q3 24 | $58.2M | $667.7M | ||
| Q2 24 | $58.3M | $704.2M | ||
| Q1 24 | $53.2M | $762.2M |
总资产VIASPZLAB
| Q4 25 | $331.3M | $1.2B | ||
| Q3 25 | $304.8M | $1.2B | ||
| Q2 25 | $316.3M | $1.2B | ||
| Q1 25 | $347.4M | $1.2B | ||
| Q4 24 | $344.9M | $1.2B | ||
| Q3 24 | $298.4M | $985.3M | ||
| Q2 24 | $299.7M | $987.4M | ||
| Q1 24 | $302.7M | $988.4M |
负债/权益比VIASPZLAB
| Q4 25 | 1.77× | — | ||
| Q3 25 | 1.65× | — | ||
| Q2 25 | 1.47× | — | ||
| Q1 25 | 1.39× | — | ||
| Q4 24 | 1.59× | — | ||
| Q3 24 | 1.53× | — | ||
| Q2 24 | 1.60× | — | ||
| Q1 24 | 1.71× | — |
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 | $-4.2M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-4.8M | $-26.7M |
| 自由现金流率自由现金流/营收 | -3.7% | -21.0% |
| 资本支出强度资本支出/营收 | 0.4% | 0.5% |
| 现金转化率经营现金流/净利润 | -0.61× | — |
| 过去12个月自由现金流最近4个季度 | $39.1M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流VIASPZLAB
| Q4 25 | $-4.2M | $-26.0M | ||
| Q3 25 | $2.4M | $-32.0M | ||
| Q2 25 | $19.0M | $-31.0M | ||
| Q1 25 | $24.9M | $-61.7M | ||
| Q4 24 | $2.0M | $-55.8M | ||
| Q3 24 | $20.1M | $-26.8M | ||
| Q2 24 | $11.2M | $-42.2M | ||
| Q1 24 | $17.1M | $-90.1M |
自由现金流VIASPZLAB
| Q4 25 | $-4.8M | $-26.7M | ||
| Q3 25 | $1.9M | $-35.0M | ||
| Q2 25 | $18.4M | $-33.9M | ||
| Q1 25 | $23.5M | $-63.2M | ||
| Q4 24 | $1.6M | $-58.4M | ||
| Q3 24 | $19.7M | $-28.2M | ||
| Q2 24 | $10.9M | $-42.9M | ||
| Q1 24 | $16.6M | $-91.1M |
自由现金流率VIASPZLAB
| Q4 25 | -3.7% | -21.0% | ||
| Q3 25 | 1.9% | -30.4% | ||
| Q2 25 | 20.5% | -31.1% | ||
| Q1 25 | 16.5% | -59.9% | ||
| Q4 24 | 1.5% | -53.8% | ||
| Q3 24 | 21.0% | -27.7% | ||
| Q2 24 | 12.6% | -42.9% | ||
| Q1 24 | 14.6% | -104.5% |
资本支出强度VIASPZLAB
| Q4 25 | 0.4% | 0.5% | ||
| Q3 25 | 0.4% | 2.6% | ||
| Q2 25 | 0.6% | 2.6% | ||
| Q1 25 | 1.0% | 1.5% | ||
| Q4 24 | 0.4% | 2.4% | ||
| Q3 24 | 0.4% | 1.3% | ||
| Q2 24 | 0.3% | 0.7% | ||
| Q1 24 | 0.4% | 1.1% |
现金转化率VIASPZLAB
| Q4 25 | -0.61× | — | ||
| Q3 25 | 3.12× | — | ||
| Q2 25 | 6.94× | — | ||
| Q1 25 | 2.84× | — | ||
| Q4 24 | 0.20× | — | ||
| Q3 24 | 9.41× | — | ||
| Q2 24 | 1.47× | — | ||
| Q1 24 | 2.00× | — |
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
VIASP
| Retail Electricity | $79.7M | 62% |
| Retail Natural Gas | $48.9M | 38% |
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% |
