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ACV Auctions Inc.（ACVA）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ACV Auctions Inc.的1.1倍（$207.3M vs $183.6M），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 15.1%），ACV Auctions Inc.自由现金流更多（$-14.7M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 12.3%）
ACV Auctions Inc.是北美领先的数字化二手车批发拍卖平台，主要服务美加两地汽车经销商，提供车辆透明检测、安全支付、物流配送等全链条服务，助力注册批发买卖双方无需线下到场即可高效完成二手车交易。
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。
ACVA vs RARE — 直观对比
营收规模更大
RARE
是对方的1.1倍
$183.6M
营收增速更快
RARE
高出10.8%
15.1%
自由现金流更多
ACVA
多$86.1M
$-100.8M
两年增速更快
RARE
近两年复合增速
12.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $183.6M | $207.3M |
| 净利润 | — | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | -9.7% | -54.7% |
| 净利率 | — | -62.0% |
| 营收同比 | 15.1% | 25.9% |
| 净利润同比 | — | 3.5% |
| 每股收益（稀释后） | $-0.12 | $-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ACVARARE
| Q4 25 | $183.6M | $207.3M | ||
| Q3 25 | $199.6M | $159.9M | ||
| Q2 25 | $193.7M | $166.5M | ||
| Q1 25 | $182.7M | $139.3M | ||
| Q4 24 | $159.5M | $164.6M | ||
| Q3 24 | $171.3M | $139.5M | ||
| Q2 24 | $160.6M | $147.0M | ||
| Q1 24 | $145.7M | $108.8M |
净利润ACVARARE
| Q4 25 | — | $-128.6M | ||
| Q3 25 | $-24.5M | $-180.4M | ||
| Q2 25 | $-7.3M | $-115.0M | ||
| Q1 25 | $-14.8M | $-151.1M | ||
| Q4 24 | — | $-133.2M | ||
| Q3 24 | $-16.0M | $-133.5M | ||
| Q2 24 | $-17.1M | $-131.6M | ||
| Q1 24 | $-20.5M | $-170.7M |
营业利润率ACVARARE
| Q4 25 | -9.7% | -54.7% | ||
| Q3 25 | -11.9% | -106.9% | ||
| Q2 25 | -3.7% | -64.8% | ||
| Q1 25 | -7.9% | -102.6% | ||
| Q4 24 | -16.2% | -74.3% | ||
| Q3 24 | -10.0% | -94.6% | ||
| Q2 24 | -11.6% | -79.1% | ||
| Q1 24 | -15.5% | -151.9% |
净利率ACVARARE
| Q4 25 | — | -62.0% | ||
| Q3 25 | -12.3% | -112.8% | ||
| Q2 25 | -3.8% | -69.0% | ||
| Q1 25 | -8.1% | -108.5% | ||
| Q4 24 | — | -80.9% | ||
| Q3 24 | -9.4% | -95.7% | ||
| Q2 24 | -10.6% | -89.5% | ||
| Q1 24 | -14.1% | -156.8% |
每股收益（稀释后）ACVARARE
| Q4 25 | $-0.12 | $-1.28 | ||
| Q3 25 | $-0.14 | $-1.81 | ||
| Q2 25 | $-0.04 | $-1.17 | ||
| Q1 25 | $-0.09 | $-1.57 | ||
| Q4 24 | $-0.15 | $-1.34 | ||
| Q3 24 | $-0.10 | $-1.40 | ||
| Q2 24 | $-0.10 | $-1.52 | ||
| Q1 24 | $-0.13 | $-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 | $271.5M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $429.7M | $-80.0M |
| 总资产 | $1.1B | $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ACVARARE
| Q4 25 | $271.5M | $421.0M | ||
| Q3 25 | $265.3M | $202.5M | ||
| Q2 25 | $258.4M | $176.3M | ||
| Q1 25 | $291.9M | $127.1M | ||
| Q4 24 | $224.1M | $174.0M | ||
| Q3 24 | $252.5M | $150.6M | ||
| Q2 24 | $215.0M | $480.7M | ||
| Q1 24 | $209.8M | $112.3M |
股东权益ACVARARE
| Q4 25 | $429.7M | $-80.0M | ||
| Q3 25 | $434.4M | $9.2M | ||
| Q2 25 | $448.8M | $151.3M | ||
| Q1 25 | $439.6M | $144.2M | ||
| Q4 24 | $440.0M | $255.0M | ||
| Q3 24 | $456.2M | $346.8M | ||
| Q2 24 | $457.6M | $432.4M | ||
| Q1 24 | $458.3M | $140.3M |
总资产ACVARARE
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | $984.1M | $1.5B | ||
| Q3 24 | $1.0B | $1.5B | ||
| Q2 24 | $1.0B | $1.6B | ||
| Q1 24 | $1.0B | $1.3B |
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 | $-12.4M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $-14.7M | $-100.8M |
| 自由现金流率自由现金流/营收 | -8.0% | -48.6% |
| 资本支出强度资本支出/营收 | 1.2% | 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 | $69.1M | $-472.0M |
8季度趋势，按日历期对齐
经营现金流ACVARARE
| Q4 25 | $-12.4M | $-99.8M | ||
| Q3 25 | $10.3M | $-91.4M | ||
| Q2 25 | $13.7M | $-108.3M | ||
| Q1 25 | $66.6M | $-166.5M | ||
| Q4 24 | $-3.2M | $-79.3M | ||
| Q3 24 | $21.1M | $-67.0M | ||
| Q2 24 | $4.5M | $-77.0M | ||
| Q1 24 | $43.0M | $-190.7M |
自由现金流ACVARARE
| Q4 25 | $-14.7M | $-100.8M | ||
| Q3 25 | $7.7M | $-92.7M | ||
| Q2 25 | $10.9M | $-110.7M | ||
| Q1 25 | $65.3M | $-167.8M | ||
| Q4 24 | $-3.9M | $-79.5M | ||
| Q3 24 | $20.2M | $-68.6M | ||
| Q2 24 | $2.7M | $-79.0M | ||
| Q1 24 | $41.9M | $-193.9M |
自由现金流率ACVARARE
| Q4 25 | -8.0% | -48.6% | ||
| Q3 25 | 3.8% | -58.0% | ||
| Q2 25 | 5.6% | -66.5% | ||
| Q1 25 | 35.7% | -120.5% | ||
| Q4 24 | -2.5% | -48.3% | ||
| Q3 24 | 11.8% | -49.2% | ||
| Q2 24 | 1.7% | -53.7% | ||
| Q1 24 | 28.8% | -178.2% |
资本支出强度ACVARARE
| Q4 25 | 1.2% | 0.5% | ||
| Q3 25 | 1.3% | 0.8% | ||
| Q2 25 | 1.5% | 1.5% | ||
| Q1 25 | 0.7% | 1.0% | ||
| Q4 24 | 0.4% | 0.1% | ||
| Q3 24 | 0.6% | 1.2% | ||
| Q2 24 | 1.1% | 1.4% | ||
| Q1 24 | 0.7% | 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
ACVA
| Auction Marketplace Revenue | $77.6M | 42% |
| Other Marketplace Revenue | $72.4M | 39% |
| Customer Assurance | $24.1M | 13% |
| Data Services Revenue | $9.4M | 5% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
