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XPLR Infrastructure, LP（XIFR）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
XPLR Infrastructure, LP的季度营收约是再鼎医药的2.0倍（$249.0M vs $127.1M），再鼎医药同比增速更快（17.1% vs -15.3%），再鼎医药自由现金流更多（$-26.7M vs $-88.0M），过去两年再鼎医药的营收复合增速更高（20.8% vs -1.6%）
XPLR Infrastructure, LP是NextEra Energy旗下公开上市的子公司，总部位于佛罗里达州朱诺海滩，是一家专注可再生能源领域的企业。
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。
XIFR vs ZLAB — 直观对比
营收规模更大
XIFR
是对方的2.0倍
$127.1M
营收增速更快
ZLAB
高出32.4%
-15.3%
自由现金流更多
ZLAB
多$61.3M
$-88.0M
两年增速更快
ZLAB
近两年复合增速
-1.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $249.0M | $127.1M |
| 净利润 | $28.0M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | -19.3% | -54.6% |
| 净利率 | 11.2% | — |
| 营收同比 | -15.3% | 17.1% |
| 净利润同比 | 124.3% | — |
| 每股收益（稀释后） | — | $-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XIFRZLAB
| Q4 25 | $249.0M | $127.1M | ||
| Q3 25 | $315.0M | $115.4M | ||
| Q2 25 | $342.0M | $109.1M | ||
| Q1 25 | $282.0M | $105.7M | ||
| Q4 24 | $294.0M | $108.5M | ||
| Q3 24 | $319.0M | $101.8M | ||
| Q2 24 | $360.0M | $100.1M | ||
| Q1 24 | $257.0M | $87.1M |
净利润XIFRZLAB
| Q4 25 | $28.0M | — | ||
| Q3 25 | $-37.0M | $-36.0M | ||
| Q2 25 | $79.0M | $-40.7M | ||
| Q1 25 | $-98.0M | $-48.4M | ||
| Q4 24 | $-115.0M | — | ||
| Q3 24 | $-40.0M | $-41.7M | ||
| Q2 24 | $62.0M | $-80.3M | ||
| Q1 24 | $70.0M | $-53.5M |
毛利率XIFRZLAB
| 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% | ||
| Q1 24 | — | 61.4% |
营业利润率XIFRZLAB
| Q4 25 | -19.3% | -54.6% | ||
| Q3 25 | 1.6% | -42.3% | ||
| Q2 25 | 26.3% | -50.3% | ||
| Q1 25 | -82.6% | -53.3% | ||
| Q4 24 | -188.1% | -62.6% | ||
| Q3 24 | 15.4% | -66.6% | ||
| Q2 24 | 18.3% | -76.0% | ||
| Q1 24 | -8.2% | -80.7% |
净利率XIFRZLAB
| Q4 25 | 11.2% | — | ||
| Q3 25 | -11.7% | -31.2% | ||
| Q2 25 | 23.1% | -37.3% | ||
| Q1 25 | -34.8% | -45.8% | ||
| Q4 24 | -39.1% | — | ||
| Q3 24 | -12.5% | -40.9% | ||
| Q2 24 | 17.2% | -80.2% | ||
| Q1 24 | 27.2% | -61.4% |
每股收益（稀释后）XIFRZLAB
| Q4 25 | — | $-0.05 | ||
| Q3 25 | $-0.40 | $-0.03 | ||
| Q2 25 | $0.84 | $-0.04 | ||
| Q1 25 | $-1.05 | $-0.04 | ||
| Q4 24 | — | $-0.09 | ||
| Q3 24 | $-0.43 | $-0.04 | ||
| Q2 24 | $0.66 | $-0.08 | ||
| Q1 24 | $0.75 | $-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 | $960.0M | $689.6M |
| 总债务越低越好 | $6.2B | — |
| 股东权益账面价值 | $10.9B | $715.5M |
| 总资产 | $19.6B | $1.2B |
| 负债/权益比越低杠杆越低 | 0.57× | — |
8季度趋势，按日历期对齐
现金及短期投资XIFRZLAB
| Q4 25 | $960.0M | $689.6M | ||
| Q3 25 | $711.0M | $717.2M | ||
| Q2 25 | $880.0M | $732.2M | ||
| Q1 25 | $1.5B | $757.3M | ||
| Q4 24 | $283.0M | $779.7M | ||
| Q3 24 | $290.0M | $616.1M | ||
| Q2 24 | $281.0M | $630.0M | ||
| Q1 24 | $245.0M | $650.8M |
总债务XIFRZLAB
| Q4 25 | $6.2B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益XIFRZLAB
| Q4 25 | $10.9B | $715.5M | ||
| Q3 25 | $11.0B | $759.9M | ||
| Q2 25 | $11.3B | $791.7M | ||
| Q1 25 | $12.6B | $810.8M | ||
| Q4 24 | $12.9B | $840.9M | ||
| Q3 24 | $13.6B | $667.7M | ||
| Q2 24 | $13.9B | $704.2M | ||
| Q1 24 | $14.0B | $762.2M |
总资产XIFRZLAB
| Q4 25 | $19.6B | $1.2B | ||
| Q3 25 | $19.1B | $1.2B | ||
| Q2 25 | $20.5B | $1.2B | ||
| Q1 25 | $21.4B | $1.2B | ||
| Q4 24 | $20.3B | $1.2B | ||
| Q3 24 | $20.9B | $985.3M | ||
| Q2 24 | $21.7B | $987.4M | ||
| Q1 24 | $22.3B | $988.4M |
负债/权益比XIFRZLAB
| Q4 25 | 0.57× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $186.0M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-88.0M | $-26.7M |
| 自由现金流率自由现金流/营收 | -35.3% | -21.0% |
| 资本支出强度资本支出/营收 | 110.0% | 0.5% |
| 现金转化率经营现金流/净利润 | 6.64× | — |
| 过去12个月自由现金流最近4个季度 | $-219.0M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流XIFRZLAB
| Q4 25 | $186.0M | $-26.0M | ||
| Q3 25 | $231.0M | $-32.0M | ||
| Q2 25 | $232.0M | $-31.0M | ||
| Q1 25 | $90.0M | $-61.7M | ||
| Q4 24 | $283.0M | $-55.8M | ||
| Q3 24 | $208.0M | $-26.8M | ||
| Q2 24 | $231.0M | $-42.2M | ||
| Q1 24 | $78.0M | $-90.1M |
自由现金流XIFRZLAB
| Q4 25 | $-88.0M | $-26.7M | ||
| Q3 25 | $-283.0M | $-35.0M | ||
| Q2 25 | $151.0M | $-33.9M | ||
| Q1 25 | $1.0M | $-63.2M | ||
| Q4 24 | $231.0M | $-58.4M | ||
| Q3 24 | $152.0M | $-28.2M | ||
| Q2 24 | $162.0M | $-42.9M | ||
| Q1 24 | $14.0M | $-91.1M |
自由现金流率XIFRZLAB
| Q4 25 | -35.3% | -21.0% | ||
| Q3 25 | -89.8% | -30.4% | ||
| Q2 25 | 44.2% | -31.1% | ||
| Q1 25 | 0.4% | -59.9% | ||
| Q4 24 | 78.6% | -53.8% | ||
| Q3 24 | 47.6% | -27.7% | ||
| Q2 24 | 45.0% | -42.9% | ||
| Q1 24 | 5.4% | -104.5% |
资本支出强度XIFRZLAB
| Q4 25 | 110.0% | 0.5% | ||
| Q3 25 | 163.2% | 2.6% | ||
| Q2 25 | 23.7% | 2.6% | ||
| Q1 25 | 31.6% | 1.5% | ||
| Q4 24 | 17.7% | 2.4% | ||
| Q3 24 | 17.6% | 1.3% | ||
| Q2 24 | 19.2% | 0.7% | ||
| Q1 24 | 24.9% | 1.1% |
现金转化率XIFRZLAB
| Q4 25 | 6.64× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.94× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 3.73× | — | ||
| Q1 24 | 1.11× | — |
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
XIFR
| Renewable Energy Sales | $238.0M | 96% |
| Related Party | $8.0M | 3% |
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% |
