vs
WisdomTree, Inc.（WT）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
WisdomTree, Inc.的季度营收约是再鼎医药的1.3倍（$159.5M vs $127.1M），WisdomTree, Inc.同比增速更快（47.5% vs 17.1%），过去两年WisdomTree, Inc.的营收复合增速更高（22.1% vs 20.8%）
WisdomTree, Inc.是总部位于纽约的全球ETF（交易型开放式指数基金）及交易所交易产品发行方与资产管理机构，2006年6月推出首批ETF产品，目前是美国主流ETF供应商之一。其发行的ETF覆盖全球不同资产类别与地区市场，产品线涵盖美国及国际股票、货币、固定收益及另类投资等品类。
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。
WT vs ZLAB — 直观对比
营收规模更大
WT
是对方的1.3倍
$127.1M
营收增速更快
WT
高出30.4%
17.1%
两年增速更快
WT
近两年复合增速
20.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $159.5M | $127.1M |
| 净利润 | $40.6M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | 37.2% | -54.6% |
| 净利率 | 25.5% | — |
| 营收同比 | 47.5% | 17.1% |
| 净利润同比 | 76.4% | — |
| 每股收益（稀释后） | $0.28 | $-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WTZLAB
| Q1 26 | $159.5M | — | ||
| Q4 25 | $147.4M | $127.1M | ||
| Q3 25 | $125.6M | $115.4M | ||
| Q2 25 | $112.6M | $109.1M | ||
| Q1 25 | $108.1M | $105.7M | ||
| Q4 24 | $110.7M | $108.5M | ||
| Q3 24 | $113.2M | $101.8M | ||
| Q2 24 | $107.0M | $100.1M |
净利润WTZLAB
| Q1 26 | $40.6M | — | ||
| Q4 25 | $40.0M | — | ||
| Q3 25 | $19.7M | $-36.0M | ||
| Q2 25 | $24.8M | $-40.7M | ||
| Q1 25 | $24.6M | $-48.4M | ||
| Q4 24 | $27.3M | — | ||
| Q3 24 | $-4.5M | $-41.7M | ||
| Q2 24 | $21.8M | $-80.3M |
毛利率WTZLAB
| 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WTZLAB
| Q1 26 | 37.2% | — | ||
| Q4 25 | 40.5% | -54.6% | ||
| Q3 25 | 36.3% | -42.3% | ||
| Q2 25 | 30.8% | -50.3% | ||
| Q1 25 | 31.6% | -53.3% | ||
| Q4 24 | 31.7% | -62.6% | ||
| Q3 24 | 36.0% | -66.6% | ||
| Q2 24 | 31.3% | -76.0% |
净利率WTZLAB
| Q1 26 | 25.5% | — | ||
| Q4 25 | 27.1% | — | ||
| Q3 25 | 15.7% | -31.2% | ||
| Q2 25 | 22.0% | -37.3% | ||
| Q1 25 | 22.8% | -45.8% | ||
| Q4 24 | 24.7% | — | ||
| Q3 24 | -4.0% | -40.9% | ||
| Q2 24 | 20.3% | -80.2% |
每股收益（稀释后）WTZLAB
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.28 | $-0.05 | ||
| Q3 25 | $0.13 | $-0.03 | ||
| Q2 25 | $0.17 | $-0.04 | ||
| Q1 25 | $0.17 | $-0.04 | ||
| Q4 24 | $0.20 | $-0.09 | ||
| Q3 24 | $-0.13 | $-0.04 | ||
| Q2 24 | $0.13 | $-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 | — | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $715.5M |
| 总资产 | $1.8B | $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WTZLAB
| Q1 26 | — | — | ||
| 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 | $132.5M | $630.0M |
股东权益WTZLAB
| Q1 26 | — | — | ||
| Q4 25 | $413.7M | $715.5M | ||
| Q3 25 | $373.4M | $759.9M | ||
| Q2 25 | $445.1M | $791.7M | ||
| Q1 25 | $415.6M | $810.8M | ||
| Q4 24 | $400.0M | $840.9M | ||
| Q3 24 | $374.9M | $667.7M | ||
| Q2 24 | $445.6M | $704.2M |
总资产WTZLAB
| Q1 26 | $1.8B | — | ||
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.0B | $1.2B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $1.0B | $985.3M | ||
| Q2 24 | $964.1M | $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 | $18.0M | $-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 | 0.44× | — |
| 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WTZLAB
| Q1 26 | $18.0M | — | ||
| Q4 25 | $147.9M | $-26.0M | ||
| Q3 25 | $48.1M | $-32.0M | ||
| Q2 25 | $38.8M | $-31.0M | ||
| Q1 25 | $6.4M | $-61.7M | ||
| Q4 24 | $113.5M | $-55.8M | ||
| Q3 24 | $47.7M | $-26.8M | ||
| Q2 24 | $32.2M | $-42.2M |
自由现金流WTZLAB
| Q1 26 | — | — | ||
| Q4 25 | $147.7M | $-26.7M | ||
| Q3 25 | $48.0M | $-35.0M | ||
| Q2 25 | $38.7M | $-33.9M | ||
| Q1 25 | $6.3M | $-63.2M | ||
| Q4 24 | $113.3M | $-58.4M | ||
| Q3 24 | $47.7M | $-28.2M | ||
| Q2 24 | $32.2M | $-42.9M |
自由现金流率WTZLAB
| Q1 26 | — | — | ||
| Q4 25 | 100.2% | -21.0% | ||
| Q3 25 | 38.2% | -30.4% | ||
| Q2 25 | 34.4% | -31.1% | ||
| Q1 25 | 5.9% | -59.9% | ||
| Q4 24 | 102.4% | -53.8% | ||
| Q3 24 | 42.1% | -27.7% | ||
| Q2 24 | 30.1% | -42.9% |
资本支出强度WTZLAB
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 0.5% | ||
| Q3 25 | 0.0% | 2.6% | ||
| Q2 25 | 0.1% | 2.6% | ||
| Q1 25 | 0.0% | 1.5% | ||
| Q4 24 | 0.1% | 2.4% | ||
| Q3 24 | 0.0% | 1.3% | ||
| Q2 24 | 0.0% | 0.7% |
现金转化率WTZLAB
| Q1 26 | 0.44× | — | ||
| Q4 25 | 3.70× | — | ||
| Q3 25 | 2.44× | — | ||
| Q2 25 | 1.57× | — | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | 4.15× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.48× | — |
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
WT
| Advisory fees | $134.9M | 85% |
| Other | $6.1M | 4% |
| Third-party distribution fees | $5.8M | 4% |
| Management fees | $5.2M | 3% |
| Sales and business development | $4.2M | 3% |
| Professional fees | $3.3M | 2% |
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% |
