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Arhaus, Inc.（ARHS）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
Arhaus, Inc.的季度营收约是Ultragenyx Pharmaceutical Inc.的1.8倍（$364.8M vs $207.3M），Arhaus, Inc.净利率更高（4.1% vs -62.0%，领先66.2%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 5.1%），Arhaus, Inc.自由现金流更多（$-8.8M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 11.2%）
Arhaus, Inc.是源自美国的高端家居零售企业，总部位于俄亥俄州波士顿高地，1986年正式创立。品牌主打可持续理念与工匠级品质，产品品类丰富，采用全渠道模式面向个人消费者及企业客户，覆盖民用与商用家居场景，提供相关产品与配套服务。
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。
ARHS vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $364.8M | $207.3M |
| 净利润 | $15.1M | $-128.6M |
| 毛利率 | 38.1% | — |
| 营业利润率 | 5.6% | -54.7% |
| 净利率 | 4.1% | -62.0% |
| 营收同比 | 5.1% | 25.9% |
| 净利润同比 | -29.1% | 3.5% |
| 每股收益（稀释后） | $0.11 | $-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
| Q4 25 | $364.8M | $207.3M | ||
| Q3 25 | $344.6M | $159.9M | ||
| Q2 25 | $358.4M | $166.5M | ||
| Q1 25 | $311.4M | $139.3M | ||
| Q4 24 | $347.0M | $164.6M | ||
| Q3 24 | $319.1M | $139.5M | ||
| Q2 24 | $309.8M | $147.0M | ||
| Q1 24 | $295.2M | $108.8M |
| Q4 25 | $15.1M | $-128.6M | ||
| Q3 25 | $12.2M | $-180.4M | ||
| Q2 25 | $35.1M | $-115.0M | ||
| Q1 25 | $4.9M | $-151.1M | ||
| Q4 24 | $21.3M | $-133.2M | ||
| Q3 24 | $9.9M | $-133.5M | ||
| Q2 24 | $22.2M | $-131.6M | ||
| Q1 24 | $15.1M | $-170.7M |
| Q4 25 | 38.1% | — | ||
| Q3 25 | 38.7% | — | ||
| Q2 25 | 41.4% | — | ||
| Q1 25 | 37.1% | — | ||
| Q4 24 | 40.0% | — | ||
| Q3 24 | 38.6% | — | ||
| Q2 24 | 40.1% | — | ||
| Q1 24 | 39.0% | — |
| Q4 25 | 5.6% | -54.7% | ||
| Q3 25 | 4.8% | -106.9% | ||
| Q2 25 | 13.0% | -64.8% | ||
| Q1 25 | 1.7% | -102.6% | ||
| Q4 24 | 8.2% | -74.3% | ||
| Q3 24 | 3.3% | -94.6% | ||
| Q2 24 | 9.5% | -79.1% | ||
| Q1 24 | 6.2% | -151.9% |
| Q4 25 | 4.1% | -62.0% | ||
| Q3 25 | 3.5% | -112.8% | ||
| Q2 25 | 9.8% | -69.0% | ||
| Q1 25 | 1.6% | -108.5% | ||
| Q4 24 | 6.1% | -80.9% | ||
| Q3 24 | 3.1% | -95.7% | ||
| Q2 24 | 7.2% | -89.5% | ||
| Q1 24 | 5.1% | -156.8% |
| Q4 25 | $0.11 | $-1.28 | ||
| Q3 25 | $0.09 | $-1.81 | ||
| Q2 25 | $0.25 | $-1.17 | ||
| Q1 25 | $0.03 | $-1.57 | ||
| Q4 24 | $0.15 | $-1.34 | ||
| Q3 24 | $0.07 | $-1.40 | ||
| Q2 24 | $0.16 | $-1.52 | ||
| Q1 24 | $0.11 | $-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 | $253.4M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $418.2M | $-80.0M |
| 总资产 | $1.4B | $1.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $253.4M | $421.0M | ||
| Q3 25 | $262.2M | $202.5M | ||
| Q2 25 | $234.8M | $176.3M | ||
| Q1 25 | $214.4M | $127.1M | ||
| Q4 24 | $197.5M | $174.0M | ||
| Q3 24 | $177.7M | $150.6M | ||
| Q2 24 | $174.2M | $480.7M | ||
| Q1 24 | $233.2M | $112.3M |
| Q4 25 | $418.2M | $-80.0M | ||
| Q3 25 | $400.4M | $9.2M | ||
| Q2 25 | $385.6M | $151.3M | ||
| Q1 25 | $348.8M | $144.2M | ||
| Q4 24 | $343.7M | $255.0M | ||
| Q3 24 | $320.6M | $346.8M | ||
| Q2 24 | $309.3M | $432.4M | ||
| Q1 24 | $285.6M | $140.3M |
| Q4 25 | $1.4B | $1.5B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.2B | $1.5B | ||
| Q3 24 | $1.2B | $1.5B | ||
| Q2 24 | $1.2B | $1.6B | ||
| Q1 24 | $1.2B | $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 | $9.3M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $-8.8M | $-100.8M |
| 自由现金流率自由现金流/营收 | -2.4% | -48.6% |
| 资本支出强度资本支出/营收 | 5.0% | 0.5% |
| 现金转化率经营现金流/净利润 | 0.62× | — |
| 过去12个月自由现金流最近4个季度 | $59.0M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $9.3M | $-99.8M | ||
| Q3 25 | $46.1M | $-91.4M | ||
| Q2 25 | $34.9M | $-108.3M | ||
| Q1 25 | $46.5M | $-166.5M | ||
| Q4 24 | $31.7M | $-79.3M | ||
| Q3 24 | $31.1M | $-67.0M | ||
| Q2 24 | $47.5M | $-77.0M | ||
| Q1 24 | $36.8M | $-190.7M |
| Q4 25 | $-8.8M | $-100.8M | ||
| Q3 25 | $28.0M | $-92.7M | ||
| Q2 25 | $20.9M | $-110.7M | ||
| Q1 25 | $18.9M | $-167.8M | ||
| Q4 24 | $13.0M | $-79.5M | ||
| Q3 24 | $4.6M | $-68.6M | ||
| Q2 24 | $11.3M | $-79.0M | ||
| Q1 24 | $10.9M | $-193.9M |
| Q4 25 | -2.4% | -48.6% | ||
| Q3 25 | 8.1% | -58.0% | ||
| Q2 25 | 5.8% | -66.5% | ||
| Q1 25 | 6.1% | -120.5% | ||
| Q4 24 | 3.7% | -48.3% | ||
| Q3 24 | 1.4% | -49.2% | ||
| Q2 24 | 3.6% | -53.7% | ||
| Q1 24 | 3.7% | -178.2% |
| Q4 25 | 5.0% | 0.5% | ||
| Q3 25 | 5.3% | 0.8% | ||
| Q2 25 | 3.9% | 1.5% | ||
| Q1 25 | 8.9% | 1.0% | ||
| Q4 24 | 5.4% | 0.1% | ||
| Q3 24 | 8.3% | 1.2% | ||
| Q2 24 | 11.7% | 1.4% | ||
| Q1 24 | 8.8% | 3.0% |
| Q4 25 | 0.62× | — | ||
| Q3 25 | 3.77× | — | ||
| Q2 25 | 1.00× | — | ||
| Q1 25 | 9.53× | — | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | 3.14× | — | ||
| Q2 24 | 2.14× | — | ||
| Q1 24 | 2.44× | — |
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
ARHS
| Sales Channel Retail | $305.7M | 84% |
| Sales Channel E Commerce | $59.2M | 16% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
