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ARDELYX, INC.（ARDX）与RE/MAX Holdings, Inc.（RMAX）财务数据对比。点击上方公司名可切换其他公司
ARDELYX, INC.的季度营收约是RE/MAX Holdings, Inc.的1.3倍（$94.5M vs $71.1M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -39.8%，领先41.8%），ARDELYX, INC.同比增速更快（27.5% vs -1.8%），过去两年ARDELYX, INC.的营收复合增速更高（13.6% vs -4.7%）
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。
RE/MAX是全球知名的房地产特许经营机构，业务遍布全球一百多个国家和地区，旗下拥有数千家门店，总计超过十万名房产经纪人，在国际房产中介领域拥有极高的品牌知名度与市场影响力。
ARDX vs RMAX — 直观对比
营收规模更大
ARDX
是对方的1.3倍
$71.1M
营收增速更快
ARDX
高出29.3%
-1.8%
净利率更高
RMAX
高出41.8%
-39.8%
两年增速更快
ARDX
近两年复合增速
-4.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $94.5M | $71.1M |
| 净利润 | $-37.6M | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | — | 13.1% |
| 净利率 | -39.8% | 2.0% |
| 营收同比 | 27.5% | -1.8% |
| 净利润同比 | — | -75.2% |
| 每股收益（稀释后） | $-0.15 | — |
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ARDXRMAX
| Q1 26 | $94.5M | — | ||
| Q4 25 | $125.2M | $71.1M | ||
| Q3 25 | $110.3M | $73.2M | ||
| Q2 25 | $97.7M | $72.8M | ||
| Q1 25 | $74.1M | $74.5M | ||
| Q4 24 | $116.1M | $72.5M | ||
| Q3 24 | $98.2M | $78.5M | ||
| Q2 24 | $73.2M | $78.5M |
净利润ARDXRMAX
| Q1 26 | $-37.6M | — | ||
| Q4 25 | $-407.0K | $1.4M | ||
| Q3 25 | $-969.0K | $4.0M | ||
| Q2 25 | $-19.1M | $4.7M | ||
| Q1 25 | $-41.1M | $-2.0M | ||
| Q4 24 | $4.6M | $5.8M | ||
| Q3 24 | $-809.0K | $966.0K | ||
| Q2 24 | $-16.5M | $3.7M |
毛利率ARDXRMAX
| Q1 26 | — | — | ||
| Q4 25 | 91.3% | — | ||
| Q3 25 | 96.4% | — | ||
| Q2 25 | 87.3% | — | ||
| Q1 25 | 83.4% | — | ||
| Q4 24 | 84.3% | — | ||
| Q3 24 | 84.0% | — | ||
| Q2 24 | 87.1% | — |
营业利润率ARDXRMAX
| Q1 26 | — | — | ||
| Q4 25 | 4.1% | 13.1% | ||
| Q3 25 | 4.2% | 25.0% | ||
| Q2 25 | -14.7% | 19.3% | ||
| Q1 25 | -49.0% | 7.2% | ||
| Q4 24 | 7.0% | 5.9% | ||
| Q3 24 | 2.3% | 19.4% | ||
| Q2 24 | -18.6% | 20.6% |
净利率ARDXRMAX
| Q1 26 | -39.8% | — | ||
| Q4 25 | -0.3% | 2.0% | ||
| Q3 25 | -0.9% | 5.4% | ||
| Q2 25 | -19.5% | 6.4% | ||
| Q1 25 | -55.5% | -2.6% | ||
| Q4 24 | 4.0% | 8.0% | ||
| Q3 24 | -0.8% | 1.2% | ||
| Q2 24 | -22.5% | 4.7% |
每股收益（稀释后）ARDXRMAX
| Q1 26 | $-0.15 | — | ||
| Q4 25 | $-0.01 | — | ||
| Q3 25 | $0.00 | — | ||
| Q2 25 | $-0.08 | — | ||
| Q1 25 | $-0.17 | — | ||
| Q4 24 | $0.01 | — | ||
| Q3 24 | $0.00 | — | ||
| Q2 24 | $-0.07 | — |
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 | $118.7M |
| 总债务越低越好 | $203.5M | $432.2M |
| 股东权益账面价值 | $148.6M | $452.4M |
| 总资产 | $504.5M | $582.5M |
| 负债/权益比越低杠杆越低 | 1.37× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资ARDXRMAX
| Q1 26 | $238.1M | — | ||
| Q4 25 | $68.0M | $118.7M | ||
| Q3 25 | $42.7M | $107.5M | ||
| Q2 25 | $90.0M | $94.3M | ||
| Q1 25 | $30.8M | $89.1M | ||
| Q4 24 | $64.9M | $96.6M | ||
| Q3 24 | $47.4M | $83.8M | ||
| Q2 24 | $41.9M | $66.1M |
总债务ARDXRMAX
| Q1 26 | $203.5M | — | ||
| Q4 25 | $202.8M | $432.2M | ||
| Q3 25 | $202.1M | $433.3M | ||
| Q2 25 | $201.4M | $434.4M | ||
| Q1 25 | $151.3M | $435.3M | ||
| Q4 24 | $150.9M | $436.2M | ||
| Q3 24 | $100.7M | $437.2M | ||
| Q2 24 | $100.2M | $438.1M |
股东权益ARDXRMAX
| Q1 26 | $148.6M | — | ||
| Q4 25 | $166.9M | $452.4M | ||
| Q3 25 | $154.3M | $448.1M | ||
| Q2 25 | $139.5M | $442.4M | ||
| Q1 25 | $145.7M | $433.5M | ||
| Q4 24 | $173.3M | $429.5M | ||
| Q3 24 | $158.3M | $423.1M | ||
| Q2 24 | $147.0M | $418.4M |
总资产ARDXRMAX
| Q1 26 | $504.5M | — | ||
| Q4 25 | $501.6M | $582.5M | ||
| Q3 25 | $486.2M | $582.2M | ||
| Q2 25 | $466.8M | $574.8M | ||
| Q1 25 | $410.2M | $571.4M | ||
| Q4 24 | $435.8M | $581.6M | ||
| Q3 24 | $367.9M | $578.6M | ||
| Q2 24 | $343.5M | $571.4M |
负债/权益比ARDXRMAX
| Q1 26 | 1.37× | — | ||
| Q4 25 | 1.21× | 0.96× | ||
| Q3 25 | 1.31× | 0.97× | ||
| Q2 25 | 1.44× | 0.98× | ||
| Q1 25 | 1.04× | 1.00× | ||
| Q4 24 | 0.87× | 1.02× | ||
| Q3 24 | 0.64× | 1.03× | ||
| Q2 24 | 0.68× | 1.05× |
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 | — | $40.9M |
| 自由现金流经营现金流 - 资本支出 | — | $33.5M |
| 自由现金流率自由现金流/营收 | — | 47.1% |
| 资本支出强度资本支出/营收 | — | 10.4% |
| 现金转化率经营现金流/净利润 | — | 28.39× |
| 过去12个月自由现金流最近4个季度 | — | $56.8M |
8季度趋势，按日历期对齐
经营现金流ARDXRMAX
| Q1 26 | — | — | ||
| Q4 25 | $21.0M | $40.9M | ||
| Q3 25 | $365.0K | $17.7M | ||
| Q2 25 | $-25.3M | $4.6M | ||
| Q1 25 | $-38.5M | $5.7M | ||
| Q4 24 | $9.8M | $59.7M | ||
| Q3 24 | $501.0K | $17.6M | ||
| Q2 24 | $-19.4M | $15.9M |
自由现金流ARDXRMAX
| Q1 26 | — | — | ||
| Q4 25 | $20.6M | $33.5M | ||
| Q3 25 | $209.0K | $16.4M | ||
| Q2 25 | $-26.0M | $2.9M | ||
| Q1 25 | $-38.8M | $4.0M | ||
| Q4 24 | $9.2M | $53.0M | ||
| Q3 24 | $364.0K | $16.3M | ||
| Q2 24 | $-19.5M | $14.0M |
自由现金流率ARDXRMAX
| Q1 26 | — | — | ||
| Q4 25 | 16.4% | 47.1% | ||
| Q3 25 | 0.2% | 22.4% | ||
| Q2 25 | -26.6% | 4.0% | ||
| Q1 25 | -52.3% | 5.3% | ||
| Q4 24 | 7.9% | 73.2% | ||
| Q3 24 | 0.4% | 20.8% | ||
| Q2 24 | -26.7% | 17.8% |
资本支出强度ARDXRMAX
| Q1 26 | — | — | ||
| Q4 25 | 0.3% | 10.4% | ||
| Q3 25 | 0.1% | 1.8% | ||
| Q2 25 | 0.7% | 2.2% | ||
| Q1 25 | 0.4% | 2.3% | ||
| Q4 24 | 0.5% | 9.1% | ||
| Q3 24 | 0.1% | 1.7% | ||
| Q2 24 | 0.2% | 2.4% |
现金转化率ARDXRMAX
| Q1 26 | — | — | ||
| Q4 25 | — | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.11× | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | — | 4.29× |
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% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
