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Artisan Partners Asset Management Inc.（APAM）与IONIS PHARMACEUTICALS INC（IONS）财务数据对比。点击上方公司名可切换其他公司
Artisan Partners Asset Management Inc.的季度营收约是IONIS PHARMACEUTICALS INC的1.7倍（$335.5M vs $203.3M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs -112.8%，领先148.0%），Artisan Partners Asset Management Inc.同比增速更快（12.9% vs -10.3%），Artisan Partners Asset Management Inc.自由现金流更多（$171.6M vs $-159.0M），过去两年IONIS PHARMACEUTICALS INC的营收复合增速更高（30.4% vs 12.7%）
阿蒂森伙伴资产管理公司（Artisan Partners）是总部位于美国威斯康星州密尔沃基的资产管理机构，除美国本土外，还在都柏林、香港、伦敦、新加坡、悉尼设有办公室，为全球客户提供专业的资产管理服务。
IONIS制药是1989年成立的生物科技企业，总部位于美国加利福尼亚州卡尔斯巴德，专注于反义疗法、RNA干扰及CRISPR疗法的研发，2015年12月前曾以Isis制药的名称运营。
APAM vs IONS — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $203.3M |
| 净利润 | $118.1M | $-229.4M |
| 毛利率 | — | 96.1% |
| 营业利润率 | 39.2% | -105.5% |
| 净利率 | 35.2% | -112.8% |
| 营收同比 | 12.9% | -10.3% |
| 净利润同比 | 34.9% | -119.8% |
| 每股收益（稀释后） | $1.36 | $-1.35 |
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
| Q4 25 | $335.5M | $203.3M | ||
| Q3 25 | $301.3M | $156.7M | ||
| Q2 25 | $282.7M | $452.0M | ||
| Q1 25 | $277.1M | $131.6M | ||
| Q4 24 | $297.1M | $226.6M | ||
| Q3 24 | $279.6M | $133.8M | ||
| Q2 24 | $270.8M | $225.3M | ||
| Q1 24 | $264.4M | $119.5M |
| Q4 25 | $118.1M | $-229.4M | ||
| Q3 25 | $66.8M | $-128.6M | ||
| Q2 25 | $67.6M | $123.6M | ||
| Q1 25 | $61.1M | $-146.9M | ||
| Q4 24 | $87.5M | $-104.3M | ||
| Q3 24 | $73.0M | $-140.5M | ||
| Q2 24 | $57.6M | $-66.3M | ||
| Q1 24 | $59.5M | $-142.8M |
| Q4 25 | — | 96.1% | ||
| Q3 25 | — | 98.5% | ||
| Q2 25 | — | 99.1% | ||
| Q1 25 | — | 98.9% | ||
| Q4 24 | — | 98.3% | ||
| Q3 24 | — | 99.2% | ||
| Q2 24 | — | 98.2% | ||
| Q1 24 | — | 98.2% |
| Q4 25 | 39.2% | -105.5% | ||
| Q3 25 | 33.8% | -102.2% | ||
| Q2 25 | 28.2% | 30.9% | ||
| Q1 25 | 31.2% | -111.6% | ||
| Q4 24 | 36.7% | -48.9% | ||
| Q3 24 | 33.3% | -111.1% | ||
| Q2 24 | 32.0% | -29.3% | ||
| Q1 24 | 29.4% | -125.1% |
| Q4 25 | 35.2% | -112.8% | ||
| Q3 25 | 22.2% | -82.1% | ||
| Q2 25 | 23.9% | 27.3% | ||
| Q1 25 | 22.1% | -111.6% | ||
| Q4 24 | 29.5% | -46.1% | ||
| Q3 24 | 26.1% | -105.0% | ||
| Q2 24 | 21.3% | -29.4% | ||
| Q1 24 | 22.5% | -119.5% |
| Q4 25 | $1.36 | $-1.35 | ||
| Q3 25 | $0.93 | $-0.80 | ||
| Q2 25 | $0.94 | $0.70 | ||
| Q1 25 | $0.82 | $-0.93 | ||
| Q4 24 | $0.99 | $-0.66 | ||
| Q3 24 | $1.03 | $-0.95 | ||
| Q2 24 | $0.80 | $-0.45 | ||
| Q1 24 | $0.84 | $-0.98 |
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 | — | $2.7B |
| 总债务越低越好 | $190.0M | $1.8B |
| 股东权益账面价值 | $438.8M | $489.1M |
| 总资产 | $1.6B | $3.5B |
| 负债/权益比越低杠杆越低 | 0.43× | 3.71× |
8季度趋势，按日历期对齐
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | $2.2B |
| Q4 25 | $190.0M | $1.8B | ||
| Q3 25 | $190.0M | — | ||
| Q2 25 | $200.0M | — | ||
| Q1 25 | $200.0M | — | ||
| Q4 24 | $200.0M | $1.3B | ||
| Q3 24 | $200.0M | — | ||
| Q2 24 | $200.0M | — | ||
| Q1 24 | $200.0M | — |
| Q4 25 | $438.8M | $489.1M | ||
| Q3 25 | $402.1M | $618.0M | ||
| Q2 25 | $381.8M | $631.7M | ||
| Q1 25 | $356.5M | $475.7M | ||
| Q4 24 | $388.9M | $588.4M | ||
| Q3 24 | $372.1M | $662.5M | ||
| Q2 24 | $341.2M | $263.7M | ||
| Q1 24 | $320.3M | $296.5M |
| Q4 25 | $1.6B | $3.5B | ||
| Q3 25 | $1.6B | $3.0B | ||
| Q2 25 | $1.4B | $3.0B | ||
| Q1 25 | $1.4B | $2.8B | ||
| Q4 24 | $1.6B | $3.0B | ||
| Q3 24 | $1.6B | $3.1B | ||
| Q2 24 | $1.5B | $2.7B | ||
| Q1 24 | $1.5B | $2.8B |
| Q4 25 | 0.43× | 3.71× | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.51× | 2.13× | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.62× | — |
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 | $172.0M | $-137.7M |
| 自由现金流经营现金流 - 资本支出 | $171.6M | $-159.0M |
| 自由现金流率自由现金流/营收 | 51.2% | -78.2% |
| 资本支出强度资本支出/营收 | 0.1% | 10.5% |
| 现金转化率经营现金流/净利润 | 1.46× | — |
| 过去12个月自由现金流最近4个季度 | $420.6M | $-320.0M |
8季度趋势，按日历期对齐
| Q4 25 | $172.0M | $-137.7M | ||
| Q3 25 | $40.4M | $-131.4M | ||
| Q2 25 | $50.9M | $151.3M | ||
| Q1 25 | $157.9M | $-150.8M | ||
| Q4 24 | $372.8M | $-116.1M | ||
| Q3 24 | $112.8M | $-115.0M | ||
| Q2 24 | $75.9M | $-119.9M | ||
| Q1 24 | $147.0M | $-149.9M |
| Q4 25 | $171.6M | $-159.0M | ||
| Q3 25 | $40.4M | $-136.7M | ||
| Q2 25 | $50.9M | $139.0M | ||
| Q1 25 | $157.7M | $-163.4M | ||
| Q4 24 | $371.3M | $-141.6M | ||
| Q3 24 | $112.4M | $-124.0M | ||
| Q2 24 | $75.2M | $-126.1M | ||
| Q1 24 | $146.9M | $-154.4M |
| Q4 25 | 51.2% | -78.2% | ||
| Q3 25 | 13.4% | -87.2% | ||
| Q2 25 | 18.0% | 30.8% | ||
| Q1 25 | 56.9% | -124.1% | ||
| Q4 24 | 125.0% | -62.5% | ||
| Q3 24 | 40.2% | -92.7% | ||
| Q2 24 | 27.8% | -56.0% | ||
| Q1 24 | 55.6% | -129.2% |
| Q4 25 | 0.1% | 10.5% | ||
| Q3 25 | 0.0% | 3.4% | ||
| Q2 25 | 0.0% | 2.7% | ||
| Q1 25 | 0.1% | 9.6% | ||
| Q4 24 | 0.5% | 11.3% | ||
| Q3 24 | 0.1% | 6.8% | ||
| Q2 24 | 0.2% | 2.8% | ||
| Q1 24 | 0.0% | 3.8% |
| Q4 25 | 1.46× | — | ||
| Q3 25 | 0.60× | — | ||
| Q2 25 | 0.75× | 1.22× | ||
| Q1 25 | 2.58× | — | ||
| Q4 24 | 4.26× | — | ||
| Q3 24 | 1.54× | — | ||
| Q2 24 | 1.32× | — | ||
| Q1 24 | 2.47× | — |
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
APAM
暂无分部数据
IONS
| Products | $58.0M | 29% |
| Spinraza Royalties | $54.0M | 27% |
| Collaborative Agreement Revenue | $52.4M | 26% |
| Wainus Royalties | $16.0M | 8% |
| Wainua Joint Development Revenue | $9.6M | 5% |
| Other Commercial | $7.6M | 4% |
| Other Royalties | $5.7M | 3% |
