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VIRTUS INVESTMENT PARTNERS, INC.（VRTS）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
VIRTUS INVESTMENT PARTNERS, INC.的季度营收约是再鼎医药的1.6倍（$199.5M vs $127.1M），再鼎医药同比增速更快（17.1% vs -4.1%），过去两年再鼎医药的营收复合增速更高（20.8% vs -5.7%）
Virtus Investment Partners是一家美国多管理人资产管理企业，旗下汇集多家具备独立投资流程与自有品牌的关联投资管理人，同时也提供非关联子投资顾问服务，为客户提供多元化的资产管理解决方案。
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。
VRTS vs ZLAB — 直观对比
营收规模更大
VRTS
是对方的1.6倍
$127.1M
营收增速更快
ZLAB
高出21.2%
-4.1%
两年增速更快
ZLAB
近两年复合增速
-5.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.5M | $127.1M |
| 净利润 | $7.1M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | 7.7% | -54.6% |
| 净利率 | 3.6% | — |
| 营收同比 | -4.1% | 17.1% |
| 净利润同比 | -78.1% | — |
| 每股收益（稀释后） | $1.05 | $-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VRTSZLAB
| Q1 26 | $199.5M | — | ||
| Q4 25 | $208.0M | $127.1M | ||
| Q3 25 | $216.4M | $115.4M | ||
| Q2 25 | $210.5M | $109.1M | ||
| Q1 25 | $217.9M | $105.7M | ||
| Q4 24 | $233.5M | $108.5M | ||
| Q3 24 | $227.0M | $101.8M | ||
| Q2 24 | $224.4M | $100.1M |
净利润VRTSZLAB
| Q1 26 | $7.1M | — | ||
| Q4 25 | $33.9M | — | ||
| Q3 25 | $31.3M | $-36.0M | ||
| Q2 25 | $42.7M | $-40.7M | ||
| Q1 25 | $28.1M | $-48.4M | ||
| Q4 24 | $39.5M | — | ||
| Q3 24 | $49.1M | $-41.7M | ||
| Q2 24 | $26.0M | $-80.3M |
毛利率VRTSZLAB
| Q1 26 | — | — | ||
| Q4 25 | — | 51.0% | ||
| Q3 25 | — | 59.5% | ||
| Q2 25 | — | 60.6% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 64.1% | ||
| Q2 24 | — | 64.9% |
营业利润率VRTSZLAB
| Q1 26 | 7.7% | — | ||
| Q4 25 | 19.1% | -54.6% | ||
| Q3 25 | 21.7% | -42.3% | ||
| Q2 25 | 21.5% | -50.3% | ||
| Q1 25 | 16.8% | -53.3% | ||
| Q4 24 | 21.7% | -62.6% | ||
| Q3 24 | 24.3% | -66.6% | ||
| Q2 24 | 19.7% | -76.0% |
净利率VRTSZLAB
| Q1 26 | 3.6% | — | ||
| Q4 25 | 16.3% | — | ||
| Q3 25 | 14.5% | -31.2% | ||
| Q2 25 | 20.3% | -37.3% | ||
| Q1 25 | 12.9% | -45.8% | ||
| Q4 24 | 16.9% | — | ||
| Q3 24 | 21.6% | -40.9% | ||
| Q2 24 | 11.6% | -80.2% |
每股收益（稀释后）VRTSZLAB
| Q1 26 | $1.05 | — | ||
| Q4 25 | $5.15 | $-0.05 | ||
| Q3 25 | $4.65 | $-0.03 | ||
| Q2 25 | $6.12 | $-0.04 | ||
| Q1 25 | $4.05 | $-0.04 | ||
| Q4 24 | $4.65 | $-0.09 | ||
| Q3 24 | $5.71 | $-0.04 | ||
| Q2 24 | $2.43 | $-0.08 |
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 | $136.6M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $93.6B | $715.5M |
| 总资产 | — | $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VRTSZLAB
| Q1 26 | $136.6M | — | ||
| Q4 25 | — | $689.6M | ||
| Q3 25 | — | $717.2M | ||
| Q2 25 | — | $732.2M | ||
| Q1 25 | — | $757.3M | ||
| Q4 24 | — | $779.7M | ||
| Q3 24 | — | $616.1M | ||
| Q2 24 | — | $630.0M |
总债务VRTSZLAB
| Q1 26 | — | — | ||
| Q4 25 | $390.0M | — | ||
| Q3 25 | $390.6M | — | ||
| Q2 25 | $231.3M | — | ||
| Q1 25 | $231.7M | — | ||
| Q4 24 | $232.1M | — | ||
| Q3 24 | $237.5M | — | ||
| Q2 24 | $247.6M | — |
股东权益VRTSZLAB
| Q1 26 | $93.6B | — | ||
| Q4 25 | $934.0M | $715.5M | ||
| Q3 25 | $918.7M | $759.9M | ||
| Q2 25 | $896.4M | $791.7M | ||
| Q1 25 | $893.7M | $810.8M | ||
| Q4 24 | $897.5M | $840.9M | ||
| Q3 24 | $889.0M | $667.7M | ||
| Q2 24 | $868.7M | $704.2M |
总资产VRTSZLAB
| Q1 26 | — | — | ||
| Q4 25 | $4.3B | $1.2B | ||
| Q3 25 | $3.9B | $1.2B | ||
| Q2 25 | $3.7B | $1.2B | ||
| Q1 25 | $3.7B | $1.2B | ||
| Q4 24 | $4.0B | $1.2B | ||
| Q3 24 | $3.6B | $985.3M | ||
| Q2 24 | $3.6B | $987.4M |
负债/权益比VRTSZLAB
| Q1 26 | — | — | ||
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.43× | — | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | 0.26× | — | ||
| Q3 24 | 0.27× | — | ||
| Q2 24 | 0.29× | — |
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 | — | $-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VRTSZLAB
| Q1 26 | — | — | ||
| Q4 25 | $-67.2M | $-26.0M | ||
| Q3 25 | $108.3M | $-32.0M | ||
| Q2 25 | $75.8M | $-31.0M | ||
| Q1 25 | $-3.8M | $-61.7M | ||
| Q4 24 | $1.8M | $-55.8M | ||
| Q3 24 | $69.1M | $-26.8M | ||
| Q2 24 | $70.0M | $-42.2M |
自由现金流VRTSZLAB
| Q1 26 | — | — | ||
| Q4 25 | $-74.1M | $-26.7M | ||
| Q3 25 | $106.9M | $-35.0M | ||
| Q2 25 | $74.2M | $-33.9M | ||
| Q1 25 | $-6.8M | $-63.2M | ||
| Q4 24 | $-3.8M | $-58.4M | ||
| Q3 24 | $68.7M | $-28.2M | ||
| Q2 24 | $68.6M | $-42.9M |
自由现金流率VRTSZLAB
| Q1 26 | — | — | ||
| Q4 25 | -35.6% | -21.0% | ||
| Q3 25 | 49.4% | -30.4% | ||
| Q2 25 | 35.2% | -31.1% | ||
| Q1 25 | -3.1% | -59.9% | ||
| Q4 24 | -1.6% | -53.8% | ||
| Q3 24 | 30.3% | -27.7% | ||
| Q2 24 | 30.6% | -42.9% |
资本支出强度VRTSZLAB
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | 0.5% | ||
| Q3 25 | 0.7% | 2.6% | ||
| Q2 25 | 0.7% | 2.6% | ||
| Q1 25 | 1.4% | 1.5% | ||
| Q4 24 | 2.4% | 2.4% | ||
| Q3 24 | 0.2% | 1.3% | ||
| Q2 24 | 0.6% | 0.7% |
现金转化率VRTSZLAB
| Q1 26 | — | — | ||
| Q4 25 | -1.99× | — | ||
| Q3 25 | 3.45× | — | ||
| Q2 25 | 1.77× | — | ||
| Q1 25 | -0.13× | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | 1.41× | — | ||
| Q2 24 | 2.69× | — |
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
VRTS
| Investment management fees | $169.1M | 85% |
| Administration and shareholder service fees | $17.3M | 9% |
| Distribution and service fees | $11.6M | 6% |
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% |
