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APPLIED OPTOELECTRONICS, INC.（AAOI）与Ultragenyx Pharmaceutical Inc.（RARE）财务数据对比。点击上方公司名可切换其他公司
Ultragenyx Pharmaceutical Inc.的季度营收约是APPLIED OPTOELECTRONICS, INC.的1.5倍（$207.3M vs $134.3M），APPLIED OPTOELECTRONICS, INC.同比增速更快（33.9% vs 25.9%），Ultragenyx Pharmaceutical Inc.自由现金流更多（$-100.8M vs $-104.6M），过去两年APPLIED OPTOELECTRONICS, INC.的营收复合增速更高（81.7% vs 38.0%）
应用光电是一家美国半导体企业，专注于光电器件领域，1997年于休斯顿大学成立，总部位于得克萨斯州舒格兰，深耕光通信相关的半导体器件研发与生产，在光电技术领域拥有深厚的技术积累。
Ultragenyx Pharmaceutical Inc.是一家总部位于美国的生物制药企业，专注于研发罕见病和超罕见遗传病的创新治疗方案，这类疾病目前大多无获批疗法，存在大量未被满足的临床需求。公司覆盖生物制剂、小分子药物、基因疗法、反义寡核苷酸及mRNA等多种药物技术平台，研发管线涵盖骨骼、内分泌、代谢、肌肉及中枢神经系统疾病领域。
AAOI vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $134.3M | $207.3M |
| 净利润 | — | $-128.6M |
| 毛利率 | 31.2% | — |
| 营业利润率 | -8.6% | -54.7% |
| 净利率 | — | -62.0% |
| 营收同比 | 33.9% | 25.9% |
| 净利润同比 | — | 3.5% |
| 每股收益（稀释后） | $-0.02 | $-1.28 |
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
| Q4 25 | $134.3M | $207.3M | ||
| Q3 25 | $118.6M | $159.9M | ||
| Q2 25 | $103.0M | $166.5M | ||
| Q1 25 | $99.9M | $139.3M | ||
| Q4 24 | $100.3M | $164.6M | ||
| Q3 24 | $65.2M | $139.5M | ||
| Q2 24 | $43.3M | $147.0M | ||
| Q1 24 | $40.7M | $108.8M |
| Q4 25 | — | $-128.6M | ||
| Q3 25 | $-17.9M | $-180.4M | ||
| Q2 25 | $-9.1M | $-115.0M | ||
| Q1 25 | $-9.2M | $-151.1M | ||
| Q4 24 | — | $-133.2M | ||
| Q3 24 | $-17.8M | $-133.5M | ||
| Q2 24 | $-26.1M | $-131.6M | ||
| Q1 24 | $-23.2M | $-170.7M |
| Q4 25 | 31.2% | — | ||
| Q3 25 | 28.0% | — | ||
| Q2 25 | 30.3% | — | ||
| Q1 25 | 30.6% | — | ||
| Q4 24 | 28.7% | — | ||
| Q3 24 | 24.4% | — | ||
| Q2 24 | 22.1% | — | ||
| Q1 24 | 18.7% | — |
| Q4 25 | -8.6% | -54.7% | ||
| Q3 25 | -15.3% | -106.9% | ||
| Q2 25 | -15.5% | -64.8% | ||
| Q1 25 | -8.9% | -102.6% | ||
| Q4 24 | -6.5% | -74.3% | ||
| Q3 24 | -25.4% | -94.6% | ||
| Q2 24 | -60.7% | -79.1% | ||
| Q1 24 | -53.2% | -151.9% |
| Q4 25 | — | -62.0% | ||
| Q3 25 | -15.1% | -112.8% | ||
| Q2 25 | -8.8% | -69.0% | ||
| Q1 25 | -9.2% | -108.5% | ||
| Q4 24 | — | -80.9% | ||
| Q3 24 | -27.3% | -95.7% | ||
| Q2 24 | -60.4% | -89.5% | ||
| Q1 24 | -57.0% | -156.8% |
| Q4 25 | $-0.02 | $-1.28 | ||
| Q3 25 | $-0.28 | $-1.81 | ||
| Q2 25 | $-0.16 | $-1.17 | ||
| Q1 25 | $-0.18 | $-1.57 | ||
| Q4 24 | $-2.82 | $-1.34 | ||
| Q3 24 | $-0.42 | $-1.40 | ||
| Q2 24 | $-0.66 | $-1.52 | ||
| Q1 24 | $-0.60 | $-2.03 |
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 | $206.1M | $421.0M |
| 总债务越低越好 | $34.0M | — |
| 股东权益账面价值 | $733.9M | $-80.0M |
| 总资产 | $1.2B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.05× | — |
8季度趋势，按日历期对齐
| Q4 25 | $206.1M | $421.0M | ||
| Q3 25 | $137.0M | $202.5M | ||
| Q2 25 | $64.7M | $176.3M | ||
| Q1 25 | $51.1M | $127.1M | ||
| Q4 24 | $67.4M | $174.0M | ||
| Q3 24 | $34.1M | $150.6M | ||
| Q2 24 | $10.7M | $480.7M | ||
| Q1 24 | $8.4M | $112.3M |
| Q4 25 | $34.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $22.1M | — | ||
| Q4 24 | $26.7M | — | ||
| Q3 24 | $29.5M | — | ||
| Q2 24 | $22.5M | — | ||
| Q1 24 | $24.1M | — |
| Q4 25 | $733.9M | $-80.0M | ||
| Q3 25 | $559.1M | $9.2M | ||
| Q2 25 | $425.0M | $151.3M | ||
| Q1 25 | $309.0M | $144.2M | ||
| Q4 24 | $229.1M | $255.0M | ||
| Q3 24 | $212.1M | $346.8M | ||
| Q2 24 | $186.5M | $432.4M | ||
| Q1 24 | $195.7M | $140.3M |
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $978.5M | $1.2B | ||
| Q2 25 | $796.9M | $1.3B | ||
| Q1 25 | $644.7M | $1.3B | ||
| Q4 24 | $547.0M | $1.5B | ||
| Q3 24 | $410.0M | $1.5B | ||
| Q2 24 | $348.0M | $1.6B | ||
| Q1 24 | $350.9M | $1.3B |
| Q4 25 | 0.05× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 0.12× | — | ||
| Q3 24 | 0.14× | — | ||
| Q2 24 | 0.12× | — | ||
| Q1 24 | 0.12× | — |
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 | $-29.6M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $-104.6M | $-100.8M |
| 自由现金流率自由现金流/营收 | -77.9% | -48.6% |
| 资本支出强度资本支出/营收 | 55.9% | 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 | $-353.6M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $-29.6M | $-99.8M | ||
| Q3 25 | $-28.5M | $-91.4M | ||
| Q2 25 | $-65.5M | $-108.3M | ||
| Q1 25 | $-50.9M | $-166.5M | ||
| Q4 24 | $-24.6M | $-79.3M | ||
| Q3 24 | $-14.4M | $-67.0M | ||
| Q2 24 | $-2.0M | $-77.0M | ||
| Q1 24 | $-28.5M | $-190.7M |
| Q4 25 | $-104.6M | $-100.8M | ||
| Q3 25 | $-78.7M | $-92.7M | ||
| Q2 25 | $-91.0M | $-110.7M | ||
| Q1 25 | $-79.3M | $-167.8M | ||
| Q4 24 | $-53.0M | $-79.5M | ||
| Q3 24 | $-20.7M | $-68.6M | ||
| Q2 24 | $-5.0M | $-79.0M | ||
| Q1 24 | $-34.2M | $-193.9M |
| Q4 25 | -77.9% | -48.6% | ||
| Q3 25 | -66.3% | -58.0% | ||
| Q2 25 | -88.3% | -66.5% | ||
| Q1 25 | -79.4% | -120.5% | ||
| Q4 24 | -52.9% | -48.3% | ||
| Q3 24 | -31.8% | -49.2% | ||
| Q2 24 | -11.5% | -53.7% | ||
| Q1 24 | -84.2% | -178.2% |
| Q4 25 | 55.9% | 0.5% | ||
| Q3 25 | 42.4% | 0.8% | ||
| Q2 25 | 24.7% | 1.5% | ||
| Q1 25 | 28.4% | 1.0% | ||
| Q4 24 | 28.3% | 0.1% | ||
| Q3 24 | 9.7% | 1.2% | ||
| Q2 24 | 6.9% | 1.4% | ||
| Q1 24 | 14.2% | 3.0% |
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
AAOI
| Data Center | $74.9M | 56% |
| CATV | $54.0M | 40% |
| Telecom | $5.1M | 4% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
