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American Assets Trust, Inc.（AAT）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American Assets Trust, Inc.的1.9倍（$207.3M vs $110.6M），American Assets Trust, Inc.净利率更高（6.1% vs -62.0%，领先68.1%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 1.8%），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -0.1%）
该公司是一家大型英国投资信托，在伦敦证券交易所上市，同时是富时250指数的成分股，现任董事长为获颁CBE勋章的伊恩·弗格森。
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。
AAT vs RARE — 直观对比
营收规模更大
RARE
是对方的1.9倍
$110.6M
营收增速更快
RARE
高出24.1%
1.8%
净利率更高
AAT
高出68.1%
-62.0%
两年增速更快
RARE
近两年复合增速
-0.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $110.6M | $207.3M |
| 净利润 | $6.7M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | 23.4% | -54.7% |
| 净利率 | 6.1% | -62.0% |
| 营收同比 | 1.8% | 25.9% |
| 净利润同比 | -16.3% | 3.5% |
| 每股收益（稀释后） | $0.08 | $-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
营收AATRARE
| Q1 26 | $110.6M | — | ||
| Q4 25 | $110.1M | $207.3M | ||
| Q3 25 | $109.6M | $159.9M | ||
| Q2 25 | $107.9M | $166.5M | ||
| Q1 25 | $108.6M | $139.3M | ||
| Q4 24 | $113.5M | $164.6M | ||
| Q3 24 | $122.8M | $139.5M | ||
| Q2 24 | $110.9M | $147.0M |
净利润AATRARE
| Q1 26 | $6.7M | — | ||
| Q4 25 | — | $-128.6M | ||
| Q3 25 | $4.5M | $-180.4M | ||
| Q2 25 | $5.5M | $-115.0M | ||
| Q1 25 | $42.5M | $-151.1M | ||
| Q4 24 | — | $-133.2M | ||
| Q3 24 | $16.7M | $-133.5M | ||
| Q2 24 | $11.9M | $-131.6M |
毛利率AATRARE
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | — | ||
| Q3 25 | 60.5% | — | ||
| Q2 25 | 62.6% | — | ||
| Q1 25 | 62.0% | — | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 65.5% | — | ||
| Q2 24 | 63.6% | — |
营业利润率AATRARE
| Q1 26 | 23.4% | — | ||
| Q4 25 | 21.1% | -54.7% | ||
| Q3 25 | 22.6% | -106.9% | ||
| Q2 25 | 24.1% | -64.8% | ||
| Q1 25 | 66.3% | -102.6% | ||
| Q4 24 | 26.5% | -74.3% | ||
| Q3 24 | 30.8% | -94.6% | ||
| Q2 24 | 27.8% | -79.1% |
净利率AATRARE
| Q1 26 | 6.1% | — | ||
| Q4 25 | — | -62.0% | ||
| Q3 25 | 4.1% | -112.8% | ||
| Q2 25 | 5.1% | -69.0% | ||
| Q1 25 | 39.2% | -108.5% | ||
| Q4 24 | — | -80.9% | ||
| Q3 24 | 13.6% | -95.7% | ||
| Q2 24 | 10.7% | -89.5% |
每股收益（稀释后）AATRARE
| Q1 26 | $0.08 | — | ||
| Q4 25 | $0.06 | $-1.28 | ||
| Q3 25 | $0.07 | $-1.81 | ||
| Q2 25 | $0.09 | $-1.17 | ||
| Q1 25 | $0.70 | $-1.57 | ||
| Q4 24 | $0.14 | $-1.34 | ||
| Q3 24 | $0.28 | $-1.40 | ||
| Q2 24 | $0.20 | $-1.52 |
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 | $118.3M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.1B | $-80.0M |
| 总资产 | $2.9B | $1.5B |
| 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AATRARE
| Q1 26 | $118.3M | — | ||
| Q4 25 | $129.4M | $421.0M | ||
| Q3 25 | $138.7M | $202.5M | ||
| Q2 25 | $143.7M | $176.3M | ||
| Q1 25 | $143.9M | $127.1M | ||
| Q4 24 | $425.7M | $174.0M | ||
| Q3 24 | $533.0M | $150.6M | ||
| Q2 24 | $114.9M | $480.7M |
总债务AATRARE
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AATRARE
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.2B | $-80.0M | ||
| Q3 25 | $1.2B | $9.2M | ||
| Q2 25 | $1.2B | $151.3M | ||
| Q1 25 | $1.2B | $144.2M | ||
| Q4 24 | $1.2B | $255.0M | ||
| Q3 24 | $1.2B | $346.8M | ||
| Q2 24 | $1.2B | $432.4M |
总资产AATRARE
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $1.5B | ||
| Q3 25 | $2.9B | $1.2B | ||
| Q2 25 | $3.0B | $1.3B | ||
| Q1 25 | $3.0B | $1.3B | ||
| Q4 24 | $3.3B | $1.5B | ||
| Q3 24 | $3.4B | $1.5B | ||
| Q2 24 | $3.0B | $1.6B |
负债/权益比AATRARE
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.72× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | — | $-100.8M |
| 自由现金流率自由现金流/营收 | — | -48.6% |
| 资本支出强度资本支出/营收 | 14.5% | 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 | — | $-472.0M |
8季度趋势，按日历期对齐
经营现金流AATRARE
| Q1 26 | — | — | ||
| Q4 25 | $167.1M | $-99.8M | ||
| Q3 25 | $40.5M | $-91.4M | ||
| Q2 25 | $49.2M | $-108.3M | ||
| Q1 25 | $36.9M | $-166.5M | ||
| Q4 24 | $207.1M | $-79.3M | ||
| Q3 24 | $52.4M | $-67.0M | ||
| Q2 24 | $59.3M | $-77.0M |
自由现金流AATRARE
| Q1 26 | — | — | ||
| Q4 25 | $94.9M | $-100.8M | ||
| Q3 25 | $23.1M | $-92.7M | ||
| Q2 25 | $28.4M | $-110.7M | ||
| Q1 25 | $20.4M | $-167.8M | ||
| Q4 24 | $136.9M | $-79.5M | ||
| Q3 24 | $28.0M | $-68.6M | ||
| Q2 24 | $43.6M | $-79.0M |
自由现金流率AATRARE
| Q1 26 | — | — | ||
| Q4 25 | 86.2% | -48.6% | ||
| Q3 25 | 21.1% | -58.0% | ||
| Q2 25 | 26.3% | -66.5% | ||
| Q1 25 | 18.8% | -120.5% | ||
| Q4 24 | 120.7% | -48.3% | ||
| Q3 24 | 22.8% | -49.2% | ||
| Q2 24 | 39.3% | -53.7% |
资本支出强度AATRARE
| Q1 26 | 14.5% | — | ||
| Q4 25 | 65.6% | 0.5% | ||
| Q3 25 | 15.9% | 0.8% | ||
| Q2 25 | 19.3% | 1.5% | ||
| Q1 25 | 15.1% | 1.0% | ||
| Q4 24 | 61.9% | 0.1% | ||
| Q3 24 | 19.9% | 1.2% | ||
| Q2 24 | 14.1% | 1.4% |
现金转化率AATRARE
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.98× | — | ||
| Q2 25 | 9.01× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.15× | — | ||
| Q2 24 | 4.98× | — |
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
AAT
| Rental income | $104.4M | 94% |
| Other | $6.2M | 6% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
