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ARGAN INC（AGX）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
ARGAN INC的季度营收约是Ultragenyx Pharmaceutical Inc.的1.2倍（$251.2M vs $207.3M），ARGAN INC净利率更高（12.2% vs -62.0%，领先74.3%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -2.3%），ARGAN INC自由现金流更多（$171.9M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 23.5%）
Argan Inc.是一家控股企业，主营工程设计、施工建设、项目管理及咨询服务，核心业务覆盖发电、电信、工业基建与可再生能源领域，主要服务北美地区的公营及私营部门客户。
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。
AGX vs RARE — 直观对比
营收规模更大
AGX
是对方的1.2倍
$207.3M
营收增速更快
RARE
高出28.2%
-2.3%
净利率更高
AGX
高出74.3%
-62.0%
自由现金流更多
AGX
多$272.7M
$-100.8M
两年增速更快
RARE
近两年复合增速
23.5%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $251.2M | $207.3M |
| 净利润 | $30.7M | $-128.6M |
| 毛利率 | 18.7% | — |
| 营业利润率 | 13.0% | -54.7% |
| 净利率 | 12.2% | -62.0% |
| 营收同比 | -2.3% | 25.9% |
| 净利润同比 | 9.7% | 3.5% |
| 每股收益（稀释后） | $2.17 | $-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AGXRARE
| Q4 25 | $251.2M | $207.3M | ||
| Q3 25 | $237.7M | $159.9M | ||
| Q2 25 | $193.7M | $166.5M | ||
| Q1 25 | $232.5M | $139.3M | ||
| Q4 24 | $257.0M | $164.6M | ||
| Q3 24 | $227.0M | $139.5M | ||
| Q2 24 | $157.7M | $147.0M | ||
| Q1 24 | $164.6M | $108.8M |
净利润AGXRARE
| Q4 25 | $30.7M | $-128.6M | ||
| Q3 25 | $35.3M | $-180.4M | ||
| Q2 25 | $22.6M | $-115.0M | ||
| Q1 25 | $31.4M | $-151.1M | ||
| Q4 24 | $28.0M | $-133.2M | ||
| Q3 24 | $18.2M | $-133.5M | ||
| Q2 24 | $7.9M | $-131.6M | ||
| Q1 24 | $12.0M | $-170.7M |
毛利率AGXRARE
| Q4 25 | 18.7% | — | ||
| Q3 25 | 18.6% | — | ||
| Q2 25 | 19.0% | — | ||
| Q1 25 | 20.5% | — | ||
| Q4 24 | 17.2% | — | ||
| Q3 24 | 13.7% | — | ||
| Q2 24 | 11.4% | — | ||
| Q1 24 | 14.4% | — |
营业利润率AGXRARE
| Q4 25 | 13.0% | -54.7% | ||
| Q3 25 | 12.6% | -106.9% | ||
| Q2 25 | 12.6% | -64.8% | ||
| Q1 25 | 14.1% | -102.6% | ||
| Q4 24 | 11.8% | -74.3% | ||
| Q3 24 | 8.2% | -94.6% | ||
| Q2 24 | 4.1% | -79.1% | ||
| Q1 24 | 7.1% | -151.9% |
净利率AGXRARE
| Q4 25 | 12.2% | -62.0% | ||
| Q3 25 | 14.8% | -112.8% | ||
| Q2 25 | 11.6% | -69.0% | ||
| Q1 25 | 13.5% | -108.5% | ||
| Q4 24 | 10.9% | -80.9% | ||
| Q3 24 | 8.0% | -95.7% | ||
| Q2 24 | 5.0% | -89.5% | ||
| Q1 24 | 7.3% | -156.8% |
每股收益（稀释后）AGXRARE
| Q4 25 | $2.17 | $-1.28 | ||
| Q3 25 | $2.50 | $-1.81 | ||
| Q2 25 | $1.60 | $-1.17 | ||
| Q1 25 | $2.26 | $-1.57 | ||
| Q4 24 | $2.00 | $-1.34 | ||
| Q3 24 | $1.31 | $-1.40 | ||
| Q2 24 | $0.58 | $-1.52 | ||
| Q1 24 | $0.89 | $-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 | $423.7M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $419.7M | $-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AGXRARE
| Q4 25 | $423.7M | $421.0M | ||
| Q3 25 | $275.5M | $202.5M | ||
| Q2 25 | $304.3M | $176.3M | ||
| Q1 25 | $298.4M | $127.1M | ||
| Q4 24 | $299.8M | $174.0M | ||
| Q3 24 | $302.0M | $150.6M | ||
| Q2 24 | $291.8M | $480.7M | ||
| Q1 24 | $306.5M | $112.3M |
股东权益AGXRARE
| Q4 25 | $419.7M | $-80.0M | ||
| Q3 25 | $393.2M | $9.2M | ||
| Q2 25 | $363.9M | $151.3M | ||
| Q1 25 | $351.9M | $144.2M | ||
| Q4 24 | $328.7M | $255.0M | ||
| Q3 24 | $308.1M | $346.8M | ||
| Q2 24 | $293.2M | $432.4M | ||
| Q1 24 | $290.9M | $140.3M |
总资产AGXRARE
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $882.7M | $1.2B | ||
| Q2 25 | $792.2M | $1.3B | ||
| Q1 25 | $836.2M | $1.3B | ||
| Q4 24 | $768.9M | $1.5B | ||
| Q3 24 | $726.6M | $1.5B | ||
| Q2 24 | $624.4M | $1.6B | ||
| Q1 24 | $598.2M | $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 | $172.5M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $171.9M | $-100.8M |
| 自由现金流率自由现金流/营收 | 68.4% | -48.6% |
| 资本支出强度资本支出/营收 | 0.2% | 0.5% |
| 现金转化率经营现金流/净利润 | 5.61× | — |
| 过去12个月自由现金流最近4个季度 | $283.0M | $-472.0M |
8季度趋势，按日历期对齐
经营现金流AGXRARE
| Q4 25 | $172.5M | $-99.8M | ||
| Q3 25 | $34.6M | $-91.4M | ||
| Q2 25 | $35.3M | $-108.3M | ||
| Q1 25 | $44.6M | $-166.5M | ||
| Q4 24 | $31.8M | $-79.3M | ||
| Q3 24 | $73.5M | $-67.0M | ||
| Q2 24 | $17.7M | $-77.0M | ||
| Q1 24 | $24.6M | $-190.7M |
自由现金流AGXRARE
| Q4 25 | $171.9M | $-100.8M | ||
| Q3 25 | $32.9M | $-92.7M | ||
| Q2 25 | $34.9M | $-110.7M | ||
| Q1 25 | $43.3M | $-167.8M | ||
| Q4 24 | $29.2M | $-79.5M | ||
| Q3 24 | $71.1M | $-68.6M | ||
| Q2 24 | $17.4M | $-79.0M | ||
| Q1 24 | $24.0M | $-193.9M |
自由现金流率AGXRARE
| Q4 25 | 68.4% | -48.6% | ||
| Q3 25 | 13.8% | -58.0% | ||
| Q2 25 | 18.0% | -66.5% | ||
| Q1 25 | 18.6% | -120.5% | ||
| Q4 24 | 11.4% | -48.3% | ||
| Q3 24 | 31.3% | -49.2% | ||
| Q2 24 | 11.0% | -53.7% | ||
| Q1 24 | 14.6% | -178.2% |
资本支出强度AGXRARE
| Q4 25 | 0.2% | 0.5% | ||
| Q3 25 | 0.7% | 0.8% | ||
| Q2 25 | 0.2% | 1.5% | ||
| Q1 25 | 0.6% | 1.0% | ||
| Q4 24 | 1.0% | 0.1% | ||
| Q3 24 | 1.0% | 1.2% | ||
| Q2 24 | 0.2% | 1.4% | ||
| Q1 24 | 0.4% | 3.0% |
现金转化率AGXRARE
| Q4 25 | 5.61× | — | ||
| Q3 25 | 0.98× | — | ||
| Q2 25 | 1.57× | — | ||
| Q1 25 | 1.42× | — | ||
| Q4 24 | 1.13× | — | ||
| Q3 24 | 4.04× | — | ||
| Q2 24 | 2.24× | — | ||
| Q1 24 | 2.05× | — |
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
AGX
| Power Industry Services | $195.5M | 78% |
| Industrial Construction Services | $49.4M | 20% |
| Telecommunications Infrastructure Services | $6.3M | 3% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
