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Xperi Inc.（XPER）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
再鼎医药的季度营收约是Xperi Inc.的1.1倍（$127.1M vs $116.5M），再鼎医药同比增速更快（17.1% vs -4.8%），Xperi Inc.自由现金流更多（$1.2M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs -1.0%）
Xperi是一家美国跨国科技企业，总部位于加利福尼亚州圣何塞，专注研发消费电子与联网车载软件，以及宽带视频服务媒体平台，业务分为付费电视、消费电子、联网汽车与媒体平台四大板块，旗下拥有DTS、HD Radio、TiVo等知名品牌。
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。
XPER vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.1倍
$116.5M
营收增速更快
ZLAB
高出21.9%
-4.8%
自由现金流更多
XPER
多$27.9M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
-1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $116.5M | $127.1M |
| 净利润 | $-17.1M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | -12.7% | -54.6% |
| 净利率 | -14.7% | — |
| 营收同比 | -4.8% | 17.1% |
| 净利润同比 | -137.0% | — |
| 每股收益（稀释后） | $-0.37 | $-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XPERZLAB
| Q4 25 | $116.5M | $127.1M | ||
| Q3 25 | $111.6M | $115.4M | ||
| Q2 25 | $105.9M | $109.1M | ||
| Q1 25 | $114.0M | $105.7M | ||
| Q4 24 | $122.4M | $108.5M | ||
| Q3 24 | $132.9M | $101.8M | ||
| Q2 24 | $119.6M | $100.1M | ||
| Q1 24 | $118.8M | $87.1M |
净利润XPERZLAB
| Q4 25 | $-17.1M | — | ||
| Q3 25 | $-6.1M | $-36.0M | ||
| Q2 25 | $-14.8M | $-40.7M | ||
| Q1 25 | $-18.4M | $-48.4M | ||
| Q4 24 | $46.2M | — | ||
| Q3 24 | $-16.8M | $-41.7M | ||
| Q2 24 | $-30.3M | $-80.3M | ||
| Q1 24 | $-13.1M | $-53.5M |
毛利率XPERZLAB
| 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XPERZLAB
| Q4 25 | -12.7% | -54.6% | ||
| Q3 25 | -1.2% | -42.3% | ||
| Q2 25 | -10.5% | -50.3% | ||
| Q1 25 | -14.4% | -53.3% | ||
| Q4 24 | -11.7% | -62.6% | ||
| Q3 24 | -14.0% | -66.6% | ||
| Q2 24 | -18.3% | -76.0% | ||
| Q1 24 | -27.2% | -80.7% |
净利率XPERZLAB
| Q4 25 | -14.7% | — | ||
| Q3 25 | -5.5% | -31.2% | ||
| Q2 25 | -14.0% | -37.3% | ||
| Q1 25 | -16.1% | -45.8% | ||
| Q4 24 | 37.8% | — | ||
| Q3 24 | -12.6% | -40.9% | ||
| Q2 24 | -25.3% | -80.2% | ||
| Q1 24 | -11.0% | -61.4% |
每股收益（稀释后）XPERZLAB
| Q4 25 | $-0.37 | $-0.05 | ||
| Q3 25 | $-0.13 | $-0.03 | ||
| Q2 25 | $-0.32 | $-0.04 | ||
| Q1 25 | $-0.41 | $-0.04 | ||
| Q4 24 | $1.02 | $-0.09 | ||
| Q3 24 | $-0.37 | $-0.04 | ||
| Q2 24 | $-0.67 | $-0.08 | ||
| Q1 24 | $-0.29 | $-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 | $96.8M | $689.6M |
| 总债务越低越好 | $27.7M | — |
| 股东权益账面价值 | $414.1M | $715.5M |
| 总资产 | $615.8M | $1.2B |
| 负债/权益比越低杠杆越低 | 0.07× | — |
8季度趋势，按日历期对齐
现金及短期投资XPERZLAB
| Q4 25 | $96.8M | $689.6M | ||
| Q3 25 | $96.8M | $717.2M | ||
| Q2 25 | $95.1M | $732.2M | ||
| Q1 25 | $88.0M | $757.3M | ||
| Q4 24 | $130.6M | $779.7M | ||
| Q3 24 | $72.7M | $616.1M | ||
| Q2 24 | $92.5M | $630.0M | ||
| Q1 24 | $95.2M | $650.8M |
总债务XPERZLAB
| Q4 25 | $27.7M | — | ||
| Q3 25 | $27.7M | — | ||
| Q2 25 | $27.7M | — | ||
| Q1 25 | $27.7M | — | ||
| Q4 24 | $27.7M | — | ||
| Q3 24 | $27.7M | — | ||
| Q2 24 | $27.7M | — | ||
| Q1 24 | $27.7M | — |
股东权益XPERZLAB
| Q4 25 | $414.1M | $715.5M | ||
| Q3 25 | $421.0M | $759.9M | ||
| Q2 25 | $419.8M | $791.7M | ||
| Q1 25 | $418.9M | $810.8M | ||
| Q4 24 | $429.1M | $840.9M | ||
| Q3 24 | $377.4M | $667.7M | ||
| Q2 24 | $388.7M | $704.2M | ||
| Q1 24 | $399.1M | $762.2M |
总资产XPERZLAB
| Q4 25 | $615.8M | $1.2B | ||
| Q3 25 | $628.8M | $1.2B | ||
| Q2 25 | $629.2M | $1.2B | ||
| Q1 25 | $633.5M | $1.2B | ||
| Q4 24 | $667.8M | $1.2B | ||
| Q3 24 | $616.2M | $985.3M | ||
| Q2 24 | $619.2M | $987.4M | ||
| Q1 24 | $630.4M | $988.4M |
负债/权益比XPERZLAB
| Q4 25 | 0.07× | — | ||
| Q3 25 | 0.07× | — | ||
| Q2 25 | 0.07× | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 0.06× | — | ||
| Q3 24 | 0.07× | — | ||
| Q2 24 | 0.07× | — | ||
| Q1 24 | 0.07× | — |
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 | $4.1M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $1.2M | $-26.7M |
| 自由现金流率自由现金流/营收 | 1.0% | -21.0% |
| 资本支出强度资本支出/营收 | 2.5% | 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 | $-5.9M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流XPERZLAB
| Q4 25 | $4.1M | $-26.0M | ||
| Q3 25 | $7.5M | $-32.0M | ||
| Q2 25 | $10.1M | $-31.0M | ||
| Q1 25 | $-22.3M | $-61.7M | ||
| Q4 24 | $1.2M | $-55.8M | ||
| Q3 24 | $-4.6M | $-26.8M | ||
| Q2 24 | $-2.1M | $-42.2M | ||
| Q1 24 | $-49.8M | $-90.1M |
自由现金流XPERZLAB
| Q4 25 | $1.2M | $-26.7M | ||
| Q3 25 | $6.7M | $-35.0M | ||
| Q2 25 | $9.5M | $-33.9M | ||
| Q1 25 | $-23.3M | $-63.2M | ||
| Q4 24 | $-510.0K | $-58.4M | ||
| Q3 24 | $-5.6M | $-28.2M | ||
| Q2 24 | $-2.6M | $-42.9M | ||
| Q1 24 | $-51.6M | $-91.1M |
自由现金流率XPERZLAB
| Q4 25 | 1.0% | -21.0% | ||
| Q3 25 | 6.0% | -30.4% | ||
| Q2 25 | 9.0% | -31.1% | ||
| Q1 25 | -20.5% | -59.9% | ||
| Q4 24 | -0.4% | -53.8% | ||
| Q3 24 | -4.2% | -27.7% | ||
| Q2 24 | -2.2% | -42.9% | ||
| Q1 24 | -43.4% | -104.5% |
资本支出强度XPERZLAB
| Q4 25 | 2.5% | 0.5% | ||
| Q3 25 | 0.7% | 2.6% | ||
| Q2 25 | 0.5% | 2.6% | ||
| Q1 25 | 0.9% | 1.5% | ||
| Q4 24 | 1.4% | 2.4% | ||
| Q3 24 | 0.8% | 1.3% | ||
| Q2 24 | 0.4% | 0.7% | ||
| Q1 24 | 1.6% | 1.1% |
现金转化率XPERZLAB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.03× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
XPER
| Pay TV | $56.2M | 48% |
| Connected Car | $31.3M | 27% |
| Consumer Electronics | $17.2M | 15% |
| Media Platform | $11.8M | 10% |
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% |
