vs
Adeia Inc.（ADEA）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Adeia Inc.的1.1倍（$207.3M vs $182.6M），Adeia Inc.净利率更高（40.4% vs -62.0%，领先102.4%），Adeia Inc.同比增速更快（53.3% vs 25.9%），Adeia Inc.自由现金流更多（$59.4M vs $-100.8M），过去两年Adeia Inc.的营收复合增速更高（48.0% vs 38.0%）
Adeia Inc.是一家全球化知识产权授权与创新企业，主营半导体制造、消费电子、媒体分发及智能设备领域的专利技术研发与商业化合作，与全球多家头部科技企业达成授权合作，推动相关行业技术升级。
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。
ADEA vs RARE — 直观对比
营收规模更大
RARE
是对方的1.1倍
$182.6M
营收增速更快
ADEA
高出27.4%
25.9%
净利率更高
ADEA
高出102.4%
-62.0%
自由现金流更多
ADEA
多$160.2M
$-100.8M
两年增速更快
ADEA
近两年复合增速
38.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $182.6M | $207.3M |
| 净利润 | $73.7M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | 59.5% | -54.7% |
| 净利率 | 40.4% | -62.0% |
| 营收同比 | 53.3% | 25.9% |
| 净利润同比 | 104.6% | 3.5% |
| 每股收益（稀释后） | $0.66 | $-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ADEARARE
| Q4 25 | $182.6M | $207.3M | ||
| Q3 25 | $87.3M | $159.9M | ||
| Q2 25 | $85.7M | $166.5M | ||
| Q1 25 | $87.7M | $139.3M | ||
| Q4 24 | $119.2M | $164.6M | ||
| Q3 24 | $86.1M | $139.5M | ||
| Q2 24 | $87.3M | $147.0M | ||
| Q1 24 | $83.4M | $108.8M |
净利润ADEARARE
| Q4 25 | $73.7M | $-128.6M | ||
| Q3 25 | $8.8M | $-180.4M | ||
| Q2 25 | $16.7M | $-115.0M | ||
| Q1 25 | $11.8M | $-151.1M | ||
| Q4 24 | $36.0M | $-133.2M | ||
| Q3 24 | $19.3M | $-133.5M | ||
| Q2 24 | $8.4M | $-131.6M | ||
| Q1 24 | $899.0K | $-170.7M |
营业利润率ADEARARE
| Q4 25 | 59.5% | -54.7% | ||
| Q3 25 | 30.9% | -106.9% | ||
| Q2 25 | 19.1% | -64.8% | ||
| Q1 25 | 26.0% | -102.6% | ||
| Q4 24 | 48.2% | -74.3% | ||
| Q3 24 | 32.7% | -94.6% | ||
| Q2 24 | 27.1% | -79.1% | ||
| Q1 24 | 23.2% | -151.9% |
净利率ADEARARE
| Q4 25 | 40.4% | -62.0% | ||
| Q3 25 | 10.1% | -112.8% | ||
| Q2 25 | 19.5% | -69.0% | ||
| Q1 25 | 13.5% | -108.5% | ||
| Q4 24 | 30.2% | -80.9% | ||
| Q3 24 | 22.4% | -95.7% | ||
| Q2 24 | 9.6% | -89.5% | ||
| Q1 24 | 1.1% | -156.8% |
每股收益（稀释后）ADEARARE
| Q4 25 | $0.66 | $-1.28 | ||
| Q3 25 | $0.08 | $-1.81 | ||
| Q2 25 | $0.15 | $-1.17 | ||
| Q1 25 | $0.10 | $-1.57 | ||
| Q4 24 | $0.32 | $-1.34 | ||
| Q3 24 | $0.17 | $-1.40 | ||
| Q2 24 | $0.07 | $-1.52 | ||
| Q1 24 | $0.01 | $-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 | $136.7M | $421.0M |
| 总债务越低越好 | $418.5M | — |
| 股东权益账面价值 | $480.5M | $-80.0M |
| 总资产 | $1.0B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.87× | — |
8季度趋势，按日历期对齐
现金及短期投资ADEARARE
| Q4 25 | $136.7M | $421.0M | ||
| Q3 25 | $115.1M | $202.5M | ||
| Q2 25 | $116.5M | $176.3M | ||
| Q1 25 | $116.5M | $127.1M | ||
| Q4 24 | $110.4M | $174.0M | ||
| Q3 24 | $89.2M | $150.6M | ||
| Q2 24 | $94.5M | $480.7M | ||
| Q1 24 | $89.0M | $112.3M |
总债务ADEARARE
| Q4 25 | $418.5M | — | ||
| Q3 25 | $438.7M | — | ||
| Q2 25 | $448.9M | — | ||
| Q1 25 | $459.2M | — | ||
| Q4 24 | $475.5M | — | ||
| Q3 24 | $524.4M | — | ||
| Q2 24 | $535.6M | — | ||
| Q1 24 | $546.3M | — |
股东权益ADEARARE
| Q4 25 | $480.5M | $-80.0M | ||
| Q3 25 | $413.7M | $9.2M | ||
| Q2 25 | $402.9M | $151.3M | ||
| Q1 25 | $389.5M | $144.2M | ||
| Q4 24 | $396.6M | $255.0M | ||
| Q3 24 | $378.2M | $346.8M | ||
| Q2 24 | $359.1M | $432.4M | ||
| Q1 24 | $350.0M | $140.3M |
总资产ADEARARE
| Q4 25 | $1.0B | $1.5B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.1B | $1.5B | ||
| Q3 24 | $1.1B | $1.5B | ||
| Q2 24 | $1.1B | $1.6B | ||
| Q1 24 | $1.1B | $1.3B |
负债/权益比ADEARARE
| Q4 25 | 0.87× | — | ||
| Q3 25 | 1.06× | — | ||
| Q2 25 | 1.11× | — | ||
| Q1 25 | 1.18× | — | ||
| Q4 24 | 1.20× | — | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 1.49× | — | ||
| Q1 24 | 1.56× | — |
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 | $60.0M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $59.4M | $-100.8M |
| 自由现金流率自由现金流/营收 | 32.5% | -48.6% |
| 资本支出强度资本支出/营收 | 0.3% | 0.5% |
| 现金转化率经营现金流/净利润 | 0.81× | — |
| 过去12个月自由现金流最近4个季度 | $156.3M | $-472.0M |
8季度趋势，按日历期对齐
经营现金流ADEARARE
| Q4 25 | $60.0M | $-99.8M | ||
| Q3 25 | $17.8M | $-91.4M | ||
| Q2 25 | $23.1M | $-108.3M | ||
| Q1 25 | $57.1M | $-166.5M | ||
| Q4 24 | $107.5M | $-79.3M | ||
| Q3 24 | $14.3M | $-67.0M | ||
| Q2 24 | $23.5M | $-77.0M | ||
| Q1 24 | $67.2M | $-190.7M |
自由现金流ADEARARE
| Q4 25 | $59.4M | $-100.8M | ||
| Q3 25 | $17.0M | $-92.7M | ||
| Q2 25 | $22.9M | $-110.7M | ||
| Q1 25 | $56.9M | $-167.8M | ||
| Q4 24 | $106.9M | $-79.5M | ||
| Q3 24 | $14.3M | $-68.6M | ||
| Q2 24 | $23.0M | $-79.0M | ||
| Q1 24 | $66.4M | $-193.9M |
自由现金流率ADEARARE
| Q4 25 | 32.5% | -48.6% | ||
| Q3 25 | 19.5% | -58.0% | ||
| Q2 25 | 26.7% | -66.5% | ||
| Q1 25 | 64.9% | -120.5% | ||
| Q4 24 | 89.7% | -48.3% | ||
| Q3 24 | 16.6% | -49.2% | ||
| Q2 24 | 26.4% | -53.7% | ||
| Q1 24 | 79.7% | -178.2% |
资本支出强度ADEARARE
| Q4 25 | 0.3% | 0.5% | ||
| Q3 25 | 0.9% | 0.8% | ||
| Q2 25 | 0.2% | 1.5% | ||
| Q1 25 | 0.3% | 1.0% | ||
| Q4 24 | 0.5% | 0.1% | ||
| Q3 24 | 0.1% | 1.2% | ||
| Q2 24 | 0.5% | 1.4% | ||
| Q1 24 | 1.0% | 3.0% |
现金转化率ADEARARE
| Q4 25 | 0.81× | — | ||
| Q3 25 | 2.02× | — | ||
| Q2 25 | 1.38× | — | ||
| Q1 25 | 4.84× | — | ||
| Q4 24 | 2.98× | — | ||
| Q3 24 | 0.74× | — | ||
| Q2 24 | 2.80× | — | ||
| Q1 24 | 74.78× | — |
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
ADEA
| Media Platform | $172.9M | 95% |
| Semiconductor | $9.7M | 5% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
