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ARDELYX, INC.（ARDX）与弗雷斯特研究公司（FORR）财务数据对比。点击上方公司名可切换其他公司
弗雷斯特研究公司的季度营收约是ARDELYX, INC.的1.1倍（$101.1M vs $94.5M），弗雷斯特研究公司净利率更高（-33.5% vs -39.8%，领先6.3%），ARDELYX, INC.同比增速更快（27.5% vs -6.5%），过去两年ARDELYX, INC.的营收复合增速更高（13.6% vs 0.5%）
Ardelyx是一家商业化阶段的生物制药企业，专注于研发和商业化针对胃肠道、心肾及代谢类疾病的创新疗法，其核心产品已在美国获批用于治疗便秘型肠易激综合征，同时拥有涵盖多适应症的各阶段研发管线。
福雷斯特研究公司是一家全球领先的研究咨询机构，主营业务涵盖行业研究、管理咨询与行业峰会举办，客户群体包括全球大型企业、科技公司与消费领域领军企业，公司总部位于美国马萨诸塞州剑桥市。
ARDX vs FORR — 直观对比
营收规模更大
FORR
是对方的1.1倍
$94.5M
营收增速更快
ARDX
高出33.9%
-6.5%
净利率更高
FORR
高出6.3%
-39.8%
两年增速更快
ARDX
近两年复合增速
0.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $94.5M | $101.1M |
| 净利润 | $-37.6M | $-33.9M |
| 毛利率 | — | 56.7% |
| 营业利润率 | — | -36.6% |
| 净利率 | -39.8% | -33.5% |
| 营收同比 | 27.5% | -6.5% |
| 净利润同比 | — | -7941.4% |
| 每股收益（稀释后） | $-0.15 | $-1.75 |
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ARDXFORR
| Q1 26 | $94.5M | — | ||
| Q4 25 | $125.2M | $101.1M | ||
| Q3 25 | $110.3M | $94.3M | ||
| Q2 25 | $97.7M | $111.7M | ||
| Q1 25 | $74.1M | $89.9M | ||
| Q4 24 | $116.1M | $108.0M | ||
| Q3 24 | $98.2M | $102.5M | ||
| Q2 24 | $73.2M | $121.8M |
净利润ARDXFORR
| Q1 26 | $-37.6M | — | ||
| Q4 25 | $-407.0K | $-33.9M | ||
| Q3 25 | $-969.0K | $-2.1M | ||
| Q2 25 | $-19.1M | $3.9M | ||
| Q1 25 | $-41.1M | $-87.3M | ||
| Q4 24 | $4.6M | $432.0K | ||
| Q3 24 | $-809.0K | $-5.8M | ||
| Q2 24 | $-16.5M | $6.3M |
毛利率ARDXFORR
| Q1 26 | — | — | ||
| Q4 25 | 91.3% | 56.7% | ||
| Q3 25 | 96.4% | 60.0% | ||
| Q2 25 | 87.3% | 55.5% | ||
| Q1 25 | 83.4% | 55.9% | ||
| Q4 24 | 84.3% | 58.8% | ||
| Q3 24 | 84.0% | 60.5% | ||
| Q2 24 | 87.1% | 57.3% |
营业利润率ARDXFORR
| Q1 26 | — | — | ||
| Q4 25 | 4.1% | -36.6% | ||
| Q3 25 | 4.2% | 4.7% | ||
| Q2 25 | -14.7% | 6.2% | ||
| Q1 25 | -49.0% | -97.5% | ||
| Q4 24 | 7.0% | -0.5% | ||
| Q3 24 | 2.3% | -0.7% | ||
| Q2 24 | -18.6% | 9.3% |
净利率ARDXFORR
| Q1 26 | -39.8% | — | ||
| Q4 25 | -0.3% | -33.5% | ||
| Q3 25 | -0.9% | -2.3% | ||
| Q2 25 | -19.5% | 3.5% | ||
| Q1 25 | -55.5% | -97.1% | ||
| Q4 24 | 4.0% | 0.4% | ||
| Q3 24 | -0.8% | -5.7% | ||
| Q2 24 | -22.5% | 5.2% |
每股收益（稀释后）ARDXFORR
| Q1 26 | $-0.15 | — | ||
| Q4 25 | $-0.01 | $-1.75 | ||
| Q3 25 | $0.00 | $-0.11 | ||
| Q2 25 | $-0.08 | $0.20 | ||
| Q1 25 | $-0.17 | $-4.62 | ||
| Q4 24 | $0.01 | $0.02 | ||
| Q3 24 | $0.00 | $-0.30 | ||
| Q2 24 | $-0.07 | $0.33 |
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 | $238.1M | $63.3M |
| 总债务越低越好 | $203.5M | — |
| 股东权益账面价值 | $148.6M | $126.5M |
| 总资产 | $504.5M | $404.0M |
| 负债/权益比越低杠杆越低 | 1.37× | — |
8季度趋势，按日历期对齐
现金及短期投资ARDXFORR
| Q1 26 | $238.1M | — | ||
| Q4 25 | $68.0M | $63.3M | ||
| Q3 25 | $42.7M | $65.1M | ||
| Q2 25 | $90.0M | $67.8M | ||
| Q1 25 | $30.8M | $75.6M | ||
| Q4 24 | $64.9M | $56.1M | ||
| Q3 24 | $47.4M | $62.8M | ||
| Q2 24 | $41.9M | $58.9M |
总债务ARDXFORR
| Q1 26 | $203.5M | — | ||
| Q4 25 | $202.8M | — | ||
| Q3 25 | $202.1M | — | ||
| Q2 25 | $201.4M | — | ||
| Q1 25 | $151.3M | — | ||
| Q4 24 | $150.9M | — | ||
| Q3 24 | $100.7M | — | ||
| Q2 24 | $100.2M | — |
股东权益ARDXFORR
| Q1 26 | $148.6M | — | ||
| Q4 25 | $166.9M | $126.5M | ||
| Q3 25 | $154.3M | $157.7M | ||
| Q2 25 | $139.5M | $159.5M | ||
| Q1 25 | $145.7M | $147.4M | ||
| Q4 24 | $173.3M | $229.5M | ||
| Q3 24 | $158.3M | $234.3M | ||
| Q2 24 | $147.0M | $237.1M |
总资产ARDXFORR
| Q1 26 | $504.5M | — | ||
| Q4 25 | $501.6M | $404.0M | ||
| Q3 25 | $486.2M | $414.2M | ||
| Q2 25 | $466.8M | $436.0M | ||
| Q1 25 | $410.2M | $439.8M | ||
| Q4 24 | $435.8M | $503.9M | ||
| Q3 24 | $367.9M | $505.3M | ||
| Q2 24 | $343.5M | $524.2M |
负债/权益比ARDXFORR
| Q1 26 | 1.37× | — | ||
| Q4 25 | 1.21× | — | ||
| Q3 25 | 1.31× | — | ||
| Q2 25 | 1.44× | — | ||
| Q1 25 | 1.04× | — | ||
| Q4 24 | 0.87× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.68× | — |
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 | — | $-3.2M |
| 自由现金流经营现金流 - 资本支出 | — | $-4.3M |
| 自由现金流率自由现金流/营收 | — | -4.2% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 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 | — | $18.1M |
8季度趋势，按日历期对齐
经营现金流ARDXFORR
| Q1 26 | — | — | ||
| Q4 25 | $21.0M | $-3.2M | ||
| Q3 25 | $365.0K | $1.2M | ||
| Q2 25 | $-25.3M | $-3.6M | ||
| Q1 25 | $-38.5M | $26.7M | ||
| Q4 24 | $9.8M | $-1.8M | ||
| Q3 24 | $501.0K | $264.0K | ||
| Q2 24 | $-19.4M | $-2.9M |
自由现金流ARDXFORR
| Q1 26 | — | — | ||
| Q4 25 | $20.6M | $-4.3M | ||
| Q3 25 | $209.0K | $524.0K | ||
| Q2 25 | $-26.0M | $-4.2M | ||
| Q1 25 | $-38.8M | $26.1M | ||
| Q4 24 | $9.2M | $-2.5M | ||
| Q3 24 | $364.0K | $-223.0K | ||
| Q2 24 | $-19.5M | $-3.7M |
自由现金流率ARDXFORR
| Q1 26 | — | — | ||
| Q4 25 | 16.4% | -4.2% | ||
| Q3 25 | 0.2% | 0.6% | ||
| Q2 25 | -26.6% | -3.8% | ||
| Q1 25 | -52.3% | 29.0% | ||
| Q4 24 | 7.9% | -2.3% | ||
| Q3 24 | 0.4% | -0.2% | ||
| Q2 24 | -26.7% | -3.1% |
资本支出强度ARDXFORR
| Q1 26 | — | — | ||
| Q4 25 | 0.3% | 1.1% | ||
| Q3 25 | 0.1% | 0.7% | ||
| Q2 25 | 0.7% | 0.5% | ||
| Q1 25 | 0.4% | 0.7% | ||
| Q4 24 | 0.5% | 0.6% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 0.2% | 0.7% |
现金转化率ARDXFORR
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.93× | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.11× | -4.24× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.46× |
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
ARDX
| IBSRELA | $70.1M | 74% |
| XPHOZAH | $23.3M | 25% |
| Non-cash royalty revenue related to the sale of future royalties | $695.0K | 1% |
| Product supply revenue | $354.0K | 0% |
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
