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奥尼兰姆制药（ALNY）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是奥尼兰姆制药的1.1倍（$1.2B vs $1.1B），奥尼兰姆制药净利率更高（17.0% vs 9.1%，领先7.9%），奥尼兰姆制药同比增速更快（84.9% vs 5.4%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $140.3M），过去两年奥尼兰姆制药的营收复合增速更高（49.0% vs 6.3%）
奥尼兰姆制药是美国生物制药企业，2002年成立，总部位于马萨诸塞州剑桥市，专注于研发及商业化针对基因明确疾病的RNA干扰（RNAi）疗法，2016年入选福布斯「100家最具创新力成长企业」榜单。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
ALNY vs RBA — 直观对比
营收规模更大
RBA
是对方的1.1倍
$1.1B
营收增速更快
ALNY
高出79.5%
5.4%
净利率更高
ALNY
高出7.9%
9.1%
自由现金流更多
RBA
多$46.2M
$140.3M
两年增速更快
ALNY
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $186.4M | $109.7M |
| 毛利率 | 75.6% | — |
| 营业利润率 | 12.0% | 14.7% |
| 净利率 | 17.0% | 9.1% |
| 营收同比 | 84.9% | 5.4% |
| 净利润同比 | 322.6% | -7.4% |
| 每股收益（稀释后） | $1.44 | $0.53 |
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ALNYRBA
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $773.7M | $1.2B | ||
| Q1 25 | $594.2M | $1.1B | ||
| Q4 24 | $593.2M | $1.1B | ||
| Q3 24 | $500.9M | $981.8M | ||
| Q2 24 | $659.8M | $1.1B | ||
| Q1 24 | $494.3M | $1.1B |
净利润ALNYRBA
| Q4 25 | $186.4M | $109.7M | ||
| Q3 25 | $251.1M | $95.5M | ||
| Q2 25 | $-66.3M | $109.8M | ||
| Q1 25 | $-57.5M | $113.4M | ||
| Q4 24 | $-83.8M | $118.5M | ||
| Q3 24 | $-111.6M | $76.1M | ||
| Q2 24 | $-16.9M | $111.1M | ||
| Q1 24 | $-65.9M | $107.4M |
毛利率ALNYRBA
| Q4 25 | 75.6% | — | ||
| Q3 25 | 84.2% | — | ||
| Q2 25 | 81.6% | — | ||
| Q1 25 | 88.2% | — | ||
| Q4 24 | 82.7% | — | ||
| Q3 24 | 83.6% | — | ||
| Q2 24 | 89.8% | — | ||
| Q1 24 | 89.0% | — |
营业利润率ALNYRBA
| Q4 25 | 12.0% | 14.7% | ||
| Q3 25 | 29.5% | 14.5% | ||
| Q2 25 | -2.1% | 15.9% | ||
| Q1 25 | 3.0% | 17.1% | ||
| Q4 24 | -17.7% | 18.1% | ||
| Q3 24 | -15.4% | 15.6% | ||
| Q2 24 | 7.4% | 18.4% | ||
| Q1 24 | -8.8% | 18.7% |
净利率ALNYRBA
| Q4 25 | 17.0% | 9.1% | ||
| Q3 25 | 20.1% | 8.7% | ||
| Q2 25 | -8.6% | 9.3% | ||
| Q1 25 | -9.7% | 10.2% | ||
| Q4 24 | -14.1% | 10.4% | ||
| Q3 24 | -22.3% | 7.8% | ||
| Q2 24 | -2.6% | 10.1% | ||
| Q1 24 | -13.3% | 10.1% |
每股收益（稀释后）ALNYRBA
| Q4 25 | $1.44 | $0.53 | ||
| Q3 25 | $1.84 | $0.43 | ||
| Q2 25 | $-0.51 | $0.53 | ||
| Q1 25 | $-0.44 | $0.55 | ||
| Q4 24 | $-0.66 | $0.58 | ||
| Q3 24 | $-0.87 | $0.36 | ||
| Q2 24 | $-0.13 | $0.54 | ||
| Q1 24 | $-0.52 | $0.53 |
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 | $1.7B | $531.5M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $789.2M | $5.6B |
| 总资产 | $5.0B | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资ALNYRBA
| Q4 25 | $1.7B | $531.5M | ||
| Q3 25 | $1.5B | $674.7M | ||
| Q2 25 | $1.1B | $710.2M | ||
| Q1 25 | $1.0B | $578.1M | ||
| Q4 24 | $966.4M | $533.9M | ||
| Q3 24 | $1.1B | $650.7M | ||
| Q2 24 | $968.5M | $599.5M | ||
| Q1 24 | $681.9M | $462.8M |
总债务ALNYRBA
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.9B |
股东权益ALNYRBA
| Q4 25 | $789.2M | $5.6B | ||
| Q3 25 | $233.9M | $5.5B | ||
| Q2 25 | $250.6M | $5.5B | ||
| Q1 25 | $115.4M | $5.3B | ||
| Q4 24 | $67.1M | $5.2B | ||
| Q3 24 | $32.4M | $5.2B | ||
| Q2 24 | $-3.1M | $5.2B | ||
| Q1 24 | $-219.3M | $5.1B |
总资产ALNYRBA
| Q4 25 | $5.0B | $12.1B | ||
| Q3 25 | $4.9B | $12.2B | ||
| Q2 25 | $4.6B | $12.2B | ||
| Q1 25 | $4.2B | $11.9B | ||
| Q4 24 | $4.2B | $11.8B | ||
| Q3 24 | $4.2B | $11.9B | ||
| Q2 24 | $4.0B | $12.1B | ||
| Q1 24 | $3.8B | $12.0B |
负债/权益比ALNYRBA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | — | 0.58× |
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 | $163.6M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $140.3M | $186.5M |
| 自由现金流率自由现金流/营收 | 12.8% | 15.5% |
| 资本支出强度资本支出/营收 | 2.1% | 5.7% |
| 现金转化率经营现金流/净利润 | 0.88× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $465.4M | $719.2M |
8季度趋势，按日历期对齐
经营现金流ALNYRBA
| Q4 25 | $163.6M | $255.2M | ||
| Q3 25 | $325.1M | $239.7M | ||
| Q2 25 | $153.7M | $326.5M | ||
| Q1 25 | $-118.3M | $156.8M | ||
| Q4 24 | $-94.7M | $184.5M | ||
| Q3 24 | $43.7M | $285.4M | ||
| Q2 24 | $124.2M | $337.3M | ||
| Q1 24 | $-81.5M | $124.8M |
自由现金流ALNYRBA
| Q4 25 | $140.3M | $186.5M | ||
| Q3 25 | $313.0M | $188.5M | ||
| Q2 25 | $139.4M | $241.7M | ||
| Q1 25 | $-127.3M | $102.5M | ||
| Q4 24 | $-103.8M | $127.9M | ||
| Q3 24 | $39.5M | $248.5M | ||
| Q2 24 | $116.1M | $308.6M | ||
| Q1 24 | $-94.5M | $79.6M |
自由现金流率ALNYRBA
| Q4 25 | 12.8% | 15.5% | ||
| Q3 25 | 25.1% | 17.3% | ||
| Q2 25 | 18.0% | 20.4% | ||
| Q1 25 | -21.4% | 9.2% | ||
| Q4 24 | -17.5% | 11.2% | ||
| Q3 24 | 7.9% | 25.3% | ||
| Q2 24 | 17.6% | 28.2% | ||
| Q1 24 | -19.1% | 7.5% |
资本支出强度ALNYRBA
| Q4 25 | 2.1% | 5.7% | ||
| Q3 25 | 1.0% | 4.7% | ||
| Q2 25 | 1.8% | 7.2% | ||
| Q1 25 | 1.5% | 4.9% | ||
| Q4 24 | 1.5% | 5.0% | ||
| Q3 24 | 0.8% | 3.8% | ||
| Q2 24 | 1.2% | 2.6% | ||
| Q1 24 | 2.6% | 4.2% |
现金转化率ALNYRBA
| Q4 25 | 0.88× | 2.33× | ||
| Q3 25 | 1.29× | 2.51× | ||
| Q2 25 | — | 2.97× | ||
| Q1 25 | — | 1.38× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | — | 3.75× | ||
| Q2 24 | — | 3.04× | ||
| Q1 24 | — | 1.16× |
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
ALNY
| TTR | $858.3M | 78% |
| Rare | $136.4M | 12% |
| GIVLAARI | $56.3M | 5% |
| Collaborative Arrangement | $40.9M | 4% |
| ONPATTRO | $12.0M | 1% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
