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Wingstop Inc.（WING）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
Wingstop Inc.的季度营收约是再鼎医药的1.4倍（$183.7M vs $127.1M），再鼎医药同比增速更快（17.1% vs 7.4%），过去两年再鼎医药的营收复合增速更高（20.8% vs 8.6%）
Wingstop Inc.是美国知名跨国快餐连锁品牌，核心产品为布法罗鸡翅，旗下门店均采用20世纪30至40年代喷气时代前的航空主题装饰风格，目前业务已覆盖全球多个国家和地区。
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。
WING vs ZLAB — 直观对比
营收规模更大
WING
是对方的1.4倍
$127.1M
营收增速更快
ZLAB
高出9.7%
7.4%
两年增速更快
ZLAB
近两年复合增速
8.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $183.7M | $127.1M |
| 净利润 | $29.9M | — |
| 毛利率 | 86.5% | 51.0% |
| 营业利润率 | 27.4% | -54.6% |
| 净利率 | 16.3% | — |
| 营收同比 | 7.4% | 17.1% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $1.08 | $-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WINGZLAB
| Q1 26 | $183.7M | — | ||
| Q4 25 | $175.7M | $127.1M | ||
| Q3 25 | $175.7M | $115.4M | ||
| Q2 25 | $174.3M | $109.1M | ||
| Q1 25 | $171.1M | $105.7M | ||
| Q4 24 | $161.8M | $108.5M | ||
| Q3 24 | $162.5M | $101.8M | ||
| Q2 24 | $155.7M | $100.1M |
净利润WINGZLAB
| Q1 26 | $29.9M | — | ||
| Q4 25 | $26.8M | — | ||
| Q3 25 | $28.5M | $-36.0M | ||
| Q2 25 | $26.8M | $-40.7M | ||
| Q1 25 | $92.3M | $-48.4M | ||
| Q4 24 | $26.8M | — | ||
| Q3 24 | $25.7M | $-41.7M | ||
| Q2 24 | $27.5M | $-80.3M |
毛利率WINGZLAB
| Q1 26 | 86.5% | — | ||
| Q4 25 | — | 51.0% | ||
| Q3 25 | — | 59.5% | ||
| Q2 25 | — | 60.6% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | 85.6% | 61.5% | ||
| Q3 24 | 85.0% | 64.1% | ||
| Q2 24 | 85.4% | 64.9% |
营业利润率WINGZLAB
| Q1 26 | 27.4% | — | ||
| Q4 25 | 26.7% | -54.6% | ||
| Q3 25 | 27.9% | -42.3% | ||
| Q2 25 | 25.9% | -50.3% | ||
| Q1 25 | 22.4% | -53.3% | ||
| Q4 24 | 25.9% | -62.6% | ||
| Q3 24 | 24.5% | -66.6% | ||
| Q2 24 | 26.5% | -76.0% |
净利率WINGZLAB
| Q1 26 | 16.3% | — | ||
| Q4 25 | 15.2% | — | ||
| Q3 25 | 16.2% | -31.2% | ||
| Q2 25 | 15.4% | -37.3% | ||
| Q1 25 | 53.9% | -45.8% | ||
| Q4 24 | 16.5% | — | ||
| Q3 24 | 15.8% | -40.9% | ||
| Q2 24 | 17.7% | -80.2% |
每股收益（稀释后）WINGZLAB
| Q1 26 | $1.08 | — | ||
| Q4 25 | $0.99 | $-0.05 | ||
| Q3 25 | $1.02 | $-0.03 | ||
| Q2 25 | $0.96 | $-0.04 | ||
| Q1 25 | $3.24 | $-0.04 | ||
| Q4 24 | $0.91 | $-0.09 | ||
| Q3 24 | $0.88 | $-0.04 | ||
| Q2 24 | $0.93 | $-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 | $128.8M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $715.5M |
| 总资产 | $648.9M | $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WINGZLAB
| Q1 26 | $128.8M | — | ||
| Q4 25 | $196.6M | $689.6M | ||
| Q3 25 | $237.6M | $717.2M | ||
| Q2 25 | $227.9M | $732.2M | ||
| Q1 25 | $251.4M | $757.3M | ||
| Q4 24 | $315.9M | $779.7M | ||
| Q3 24 | $84.0M | $616.1M | ||
| Q2 24 | $96.7M | $630.0M |
总债务WINGZLAB
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益WINGZLAB
| Q1 26 | — | — | ||
| Q4 25 | $-736.8M | $715.5M | ||
| Q3 25 | $-702.6M | $759.9M | ||
| Q2 25 | $-686.0M | $791.7M | ||
| Q1 25 | $-715.0M | $810.8M | ||
| Q4 24 | $-675.6M | $840.9M | ||
| Q3 24 | $-447.5M | $667.7M | ||
| Q2 24 | $-437.5M | $704.2M |
总资产WINGZLAB
| Q1 26 | $648.9M | — | ||
| Q4 25 | $693.4M | $1.2B | ||
| Q3 25 | $721.0M | $1.2B | ||
| Q2 25 | $708.3M | $1.2B | ||
| Q1 25 | $696.8M | $1.2B | ||
| Q4 24 | $716.2M | $1.2B | ||
| Q3 24 | $484.8M | $985.3M | ||
| Q2 24 | $451.8M | $987.4M |
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WINGZLAB
| Q1 26 | — | — | ||
| Q4 25 | $57.3M | $-26.0M | ||
| Q3 25 | $63.9M | $-32.0M | ||
| Q2 25 | $6.6M | $-31.0M | ||
| Q1 25 | $25.3M | $-61.7M | ||
| Q4 24 | $7.7M | $-55.8M | ||
| Q3 24 | $69.0M | $-26.8M | ||
| Q2 24 | $36.2M | $-42.2M |
自由现金流WINGZLAB
| Q1 26 | — | — | ||
| Q4 25 | $34.5M | $-26.7M | ||
| Q3 25 | $61.7M | $-35.0M | ||
| Q2 25 | $-7.8M | $-33.9M | ||
| Q1 25 | $17.3M | $-63.2M | ||
| Q4 24 | $-8.6M | $-58.4M | ||
| Q3 24 | $54.9M | $-28.2M | ||
| Q2 24 | $25.9M | $-42.9M |
自由现金流率WINGZLAB
| Q1 26 | — | — | ||
| Q4 25 | 19.6% | -21.0% | ||
| Q3 25 | 35.1% | -30.4% | ||
| Q2 25 | -4.5% | -31.1% | ||
| Q1 25 | 10.1% | -59.9% | ||
| Q4 24 | -5.3% | -53.8% | ||
| Q3 24 | 33.8% | -27.7% | ||
| Q2 24 | 16.6% | -42.9% |
资本支出强度WINGZLAB
| Q1 26 | — | — | ||
| Q4 25 | 13.0% | 0.5% | ||
| Q3 25 | 1.3% | 2.6% | ||
| Q2 25 | 8.2% | 2.6% | ||
| Q1 25 | 4.7% | 1.5% | ||
| Q4 24 | 10.1% | 2.4% | ||
| Q3 24 | 8.7% | 1.3% | ||
| Q2 24 | 6.6% | 0.7% |
现金转化率WINGZLAB
| Q1 26 | — | — | ||
| Q4 25 | 2.14× | — | ||
| Q3 25 | 2.24× | — | ||
| Q2 25 | 0.25× | — | ||
| Q1 25 | 0.27× | — | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | 2.68× | — | ||
| Q2 24 | 1.32× | — |
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
WING
| Royalty revenue, franchise fees and other | $87.5M | 48% |
| Advertising fees | $63.3M | 34% |
| Company-owned restaurant sales | $33.0M | 18% |
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% |
