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Arhaus, Inc.（ARHS）与Royalty Pharma plc（RPRX）财务数据对比。点击上方公司名可切换其他公司
Royalty Pharma plc的季度营收约是Arhaus, Inc.的1.7倍（$622.0M vs $364.8M），Royalty Pharma plc净利率更高（34.4% vs 4.1%，领先30.3%），Arhaus, Inc.同比增速更快（5.1% vs 4.8%），过去两年Arhaus, Inc.的营收复合增速更高（11.2% vs 4.6%）
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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
ARHS vs RPRX — 直观对比
营收规模更大
RPRX
是对方的1.7倍
$364.8M
营收增速更快
ARHS
高出0.4%
4.8%
净利率更高
RPRX
高出30.3%
4.1%
两年增速更快
ARHS
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $364.8M | $622.0M |
| 净利润 | $15.1M | $214.2M |
| 毛利率 | 38.1% | — |
| 营业利润率 | 5.6% | 62.4% |
| 净利率 | 4.1% | 34.4% |
| 营收同比 | 5.1% | 4.8% |
| 净利润同比 | -29.1% | 2.9% |
| 每股收益（稀释后） | $0.11 | $0.49 |
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ARHSRPRX
| Q4 25 | $364.8M | $622.0M | ||
| Q3 25 | $344.6M | $609.3M | ||
| Q2 25 | $358.4M | $578.7M | ||
| Q1 25 | $311.4M | $568.2M | ||
| Q4 24 | $347.0M | $593.6M | ||
| Q3 24 | $319.1M | $564.7M | ||
| Q2 24 | $309.8M | $537.3M | ||
| Q1 24 | $295.2M | $568.0M |
净利润ARHSRPRX
| Q4 25 | $15.1M | $214.2M | ||
| Q3 25 | $12.2M | $288.2M | ||
| Q2 25 | $35.1M | $30.2M | ||
| Q1 25 | $4.9M | $238.3M | ||
| Q4 24 | $21.3M | $208.2M | ||
| Q3 24 | $9.9M | $544.0M | ||
| Q2 24 | $22.2M | $102.0M | ||
| Q1 24 | $15.1M | $4.8M |
毛利率ARHSRPRX
| 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% | — |
营业利润率ARHSRPRX
| Q4 25 | 5.6% | 62.4% | ||
| Q3 25 | 4.8% | 70.1% | ||
| Q2 25 | 13.0% | 36.3% | ||
| Q1 25 | 1.7% | 94.0% | ||
| Q4 24 | 8.2% | 60.9% | ||
| Q3 24 | 3.3% | — | ||
| Q2 24 | 9.5% | 50.2% | ||
| Q1 24 | 6.2% | -13.0% |
净利率ARHSRPRX
| Q4 25 | 4.1% | 34.4% | ||
| Q3 25 | 3.5% | 47.3% | ||
| Q2 25 | 9.8% | 5.2% | ||
| Q1 25 | 1.6% | 41.9% | ||
| Q4 24 | 6.1% | 35.1% | ||
| Q3 24 | 3.1% | 96.3% | ||
| Q2 24 | 7.2% | 19.0% | ||
| Q1 24 | 5.1% | 0.8% |
每股收益（稀释后）ARHSRPRX
| Q4 25 | $0.11 | $0.49 | ||
| Q3 25 | $0.09 | $0.67 | ||
| Q2 25 | $0.25 | $0.07 | ||
| Q1 25 | $0.03 | $0.55 | ||
| Q4 24 | $0.15 | $0.46 | ||
| Q3 24 | $0.07 | $1.21 | ||
| Q2 24 | $0.16 | $0.23 | ||
| Q1 24 | $0.11 | $0.01 |
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 | $618.7M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | $418.2M | $9.7B |
| 总资产 | $1.4B | $19.6B |
| 负债/权益比越低杠杆越低 | — | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资ARHSRPRX
| Q4 25 | $253.4M | $618.7M | ||
| Q3 25 | $262.2M | $938.9M | ||
| Q2 25 | $234.8M | $631.9M | ||
| Q1 25 | $214.4M | $1.1B | ||
| Q4 24 | $197.5M | $929.0M | ||
| Q3 24 | $177.7M | $950.1M | ||
| Q2 24 | $174.2M | $1.8B | ||
| Q1 24 | $233.2M | $843.0M |
总债务ARHSRPRX
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B | ||
| Q1 24 | — | $6.1B |
股东权益ARHSRPRX
| Q4 25 | $418.2M | $9.7B | ||
| Q3 25 | $400.4M | $9.6B | ||
| Q2 25 | $385.6M | $9.5B | ||
| Q1 25 | $348.8M | $9.8B | ||
| Q4 24 | $343.7M | $10.3B | ||
| Q3 24 | $320.6M | $10.3B | ||
| Q2 24 | $309.3M | $9.8B | ||
| Q1 24 | $285.6M | $9.9B |
总资产ARHSRPRX
| Q4 25 | $1.4B | $19.6B | ||
| Q3 25 | $1.4B | $19.3B | ||
| Q2 25 | $1.3B | $18.3B | ||
| Q1 25 | $1.3B | $17.6B | ||
| Q4 24 | $1.2B | $18.2B | ||
| Q3 24 | $1.2B | $18.0B | ||
| Q2 24 | $1.2B | $17.7B | ||
| Q1 24 | $1.2B | $16.1B |
负债/权益比ARHSRPRX
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| 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 | $9.3M | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $-8.8M | — |
| 自由现金流率自由现金流/营收 | -2.4% | — |
| 资本支出强度资本支出/营收 | 5.0% | — |
| 现金转化率经营现金流/净利润 | 0.62× | 3.86× |
| 过去12个月自由现金流最近4个季度 | $59.0M | — |
8季度趋势，按日历期对齐
经营现金流ARHSRPRX
| Q4 25 | $9.3M | $827.1M | ||
| Q3 25 | $46.1M | $702.6M | ||
| Q2 25 | $34.9M | $364.0M | ||
| Q1 25 | $46.5M | $596.1M | ||
| Q4 24 | $31.7M | $742.5M | ||
| Q3 24 | $31.1M | $703.6M | ||
| Q2 24 | $47.5M | $658.2M | ||
| Q1 24 | $36.8M | $664.6M |
自由现金流ARHSRPRX
| Q4 25 | $-8.8M | — | ||
| Q3 25 | $28.0M | — | ||
| Q2 25 | $20.9M | — | ||
| Q1 25 | $18.9M | — | ||
| Q4 24 | $13.0M | — | ||
| Q3 24 | $4.6M | — | ||
| Q2 24 | $11.3M | — | ||
| Q1 24 | $10.9M | — |
自由现金流率ARHSRPRX
| Q4 25 | -2.4% | — | ||
| Q3 25 | 8.1% | — | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | 6.1% | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 1.4% | — | ||
| Q2 24 | 3.6% | — | ||
| Q1 24 | 3.7% | — |
资本支出强度ARHSRPRX
| Q4 25 | 5.0% | — | ||
| Q3 25 | 5.3% | — | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | 8.9% | — | ||
| Q4 24 | 5.4% | — | ||
| Q3 24 | 8.3% | — | ||
| Q2 24 | 11.7% | — | ||
| Q1 24 | 8.8% | — |
现金转化率ARHSRPRX
| Q4 25 | 0.62× | 3.86× | ||
| Q3 25 | 3.77× | 2.44× | ||
| Q2 25 | 1.00× | 12.06× | ||
| Q1 25 | 9.53× | 2.50× | ||
| Q4 24 | 1.49× | 3.57× | ||
| Q3 24 | 3.14× | 1.29× | ||
| Q2 24 | 2.14× | 6.45× | ||
| Q1 24 | 2.44× | 139.10× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
