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亚什兰（ASH）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
亚什兰的季度营收约是Ultragenyx Pharmaceutical Inc.的1.9倍（$386.0M vs $207.3M），亚什兰净利率更高（-3.1% vs -62.0%，领先58.9%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -4.7%），亚什兰自由现金流更多（$111.0M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -18.1%）
亚什兰是一家总部位于美国特拉华州威尔明顿的化工企业，1924年始创于肯塔基州亚什兰市，最初以炼油业务起家，1994年迁至现总部。公司拥有多个业务板块，覆盖化工中间体与溶剂、复合材料、工业特种化学品、个人及家居护理、制药、食品饮料以及农业相关领域，2017年之前曾是胜牌润滑油的主要生产商。
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。
ASH vs RARE — 直观对比
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $207.3M |
| 净利润 | $-12.0M | $-128.6M |
| 毛利率 | 27.2% | — |
| 营业利润率 | -1.6% | -54.7% |
| 净利率 | -3.1% | -62.0% |
| 营收同比 | -4.7% | 25.9% |
| 净利润同比 | 92.7% | 3.5% |
| 每股收益（稀释后） | $-0.26 | $-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 | $386.0M | $207.3M | ||
| Q3 25 | $477.0M | $159.9M | ||
| Q2 25 | $463.0M | $166.5M | ||
| Q1 25 | $479.0M | $139.3M | ||
| Q4 24 | $405.0M | $164.6M | ||
| Q3 24 | $521.0M | $139.5M | ||
| Q2 24 | $544.0M | $147.0M | ||
| Q1 24 | $575.0M | $108.8M |
| Q4 25 | $-12.0M | $-128.6M | ||
| Q3 25 | $31.0M | $-180.4M | ||
| Q2 25 | $-742.0M | $-115.0M | ||
| Q1 25 | $31.0M | $-151.1M | ||
| Q4 24 | $-165.0M | $-133.2M | ||
| Q3 24 | $17.0M | $-133.5M | ||
| Q2 24 | $6.0M | $-131.6M | ||
| Q1 24 | $120.0M | $-170.7M |
| Q4 25 | 27.2% | — | ||
| Q3 25 | 33.3% | — | ||
| Q2 25 | 28.5% | — | ||
| Q1 25 | 30.7% | — | ||
| Q4 24 | 27.4% | — | ||
| Q3 24 | 33.2% | — | ||
| Q2 24 | 34.2% | — | ||
| Q1 24 | 28.0% | — |
| Q4 25 | -1.6% | -54.7% | ||
| Q3 25 | 12.8% | -106.9% | ||
| Q2 25 | -152.9% | -64.8% | ||
| Q1 25 | 10.6% | -102.6% | ||
| Q4 24 | -44.2% | -74.3% | ||
| Q3 24 | 6.1% | -94.6% | ||
| Q2 24 | -11.2% | -79.1% | ||
| Q1 24 | 3.7% | -151.9% |
| Q4 25 | -3.1% | -62.0% | ||
| Q3 25 | 6.5% | -112.8% | ||
| Q2 25 | -160.3% | -69.0% | ||
| Q1 25 | 6.5% | -108.5% | ||
| Q4 24 | -40.7% | -80.9% | ||
| Q3 24 | 3.3% | -95.7% | ||
| Q2 24 | 1.1% | -89.5% | ||
| Q1 24 | 20.9% | -156.8% |
| Q4 25 | $-0.26 | $-1.28 | ||
| Q3 25 | $0.83 | $-1.81 | ||
| Q2 25 | $-16.21 | $-1.17 | ||
| Q1 25 | $0.65 | $-1.57 | ||
| Q4 24 | $-3.50 | $-1.34 | ||
| Q3 24 | $0.34 | $-1.40 | ||
| Q2 24 | $0.12 | $-1.52 | ||
| Q1 24 | $2.39 | $-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 | $304.0M | $421.0M |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $1.9B | $-80.0M |
| 总资产 | $4.5B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.74× | — |
8季度趋势，按日历期对齐
| Q4 25 | $304.0M | $421.0M | ||
| Q3 25 | $215.0M | $202.5M | ||
| Q2 25 | $207.0M | $176.3M | ||
| Q1 25 | $168.0M | $127.1M | ||
| Q4 24 | $219.0M | $174.0M | ||
| Q3 24 | $300.0M | $150.6M | ||
| Q2 24 | $399.0M | $480.7M | ||
| Q1 24 | $439.0M | $112.3M |
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.3B | — |
| Q4 25 | $1.9B | $-80.0M | ||
| Q3 25 | $1.9B | $9.2M | ||
| Q2 25 | $1.9B | $151.3M | ||
| Q1 25 | $2.6B | $144.2M | ||
| Q4 24 | $2.6B | $255.0M | ||
| Q3 24 | $2.9B | $346.8M | ||
| Q2 24 | $3.0B | $432.4M | ||
| Q1 24 | $3.1B | $140.3M |
| Q4 25 | $4.5B | $1.5B | ||
| Q3 25 | $4.6B | $1.2B | ||
| Q2 25 | $4.6B | $1.3B | ||
| Q1 25 | $5.2B | $1.3B | ||
| Q4 24 | $5.2B | $1.5B | ||
| Q3 24 | $5.6B | $1.5B | ||
| Q2 24 | $5.7B | $1.6B | ||
| Q1 24 | $5.9B | $1.3B |
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.52× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.45× | — | ||
| Q1 24 | 0.42× | — |
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 | $125.0M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $111.0M | $-100.8M |
| 自由现金流率自由现金流/营收 | 28.8% | -48.6% |
| 资本支出强度资本支出/营收 | 3.6% | 0.5% |
| 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 | $200.0M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $125.0M | $-99.8M | ||
| Q3 25 | $40.0M | $-91.4M | ||
| Q2 25 | $115.0M | $-108.3M | ||
| Q1 25 | $9.0M | $-166.5M | ||
| Q4 24 | $-30.0M | $-79.3M | ||
| Q3 24 | $80.0M | $-67.0M | ||
| Q2 24 | $127.0M | $-77.0M | ||
| Q1 24 | $54.0M | $-190.7M |
| Q4 25 | $111.0M | $-100.8M | ||
| Q3 25 | $6.0M | $-92.7M | ||
| Q2 25 | $95.0M | $-110.7M | ||
| Q1 25 | $-12.0M | $-167.8M | ||
| Q4 24 | $-53.0M | $-79.5M | ||
| Q3 24 | $42.0M | $-68.6M | ||
| Q2 24 | $98.0M | $-79.0M | ||
| Q1 24 | $20.0M | $-193.9M |
| Q4 25 | 28.8% | -48.6% | ||
| Q3 25 | 1.3% | -58.0% | ||
| Q2 25 | 20.5% | -66.5% | ||
| Q1 25 | -2.5% | -120.5% | ||
| Q4 24 | -13.1% | -48.3% | ||
| Q3 24 | 8.1% | -49.2% | ||
| Q2 24 | 18.0% | -53.7% | ||
| Q1 24 | 3.5% | -178.2% |
| Q4 25 | 3.6% | 0.5% | ||
| Q3 25 | 7.1% | 0.8% | ||
| Q2 25 | 4.3% | 1.5% | ||
| Q1 25 | 4.4% | 1.0% | ||
| Q4 24 | 5.7% | 0.1% | ||
| Q3 24 | 7.3% | 1.2% | ||
| Q2 24 | 5.3% | 1.4% | ||
| Q1 24 | 5.9% | 3.0% |
| Q4 25 | — | — | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.71× | — | ||
| Q2 24 | 21.17× | — | ||
| Q1 24 | 0.45× | — |
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
ASH
| Personal Care And Household | $123.0M | 32% |
| Other | $120.0M | 31% |
| Specialty Additives | $36.0M | 9% |
| Intermediates And Solvents | $31.0M | 8% |
| Personal Care | $30.0M | 8% |
| Life Sciences | $27.0M | 7% |
| Intermediates | $19.0M | 5% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
