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AVIAT NETWORKS, INC.（AVNW）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
Ultragenyx Pharmaceutical Inc.的季度营收约是AVIAT NETWORKS, INC.的1.9倍（$207.3M vs $111.5M），AVIAT NETWORKS, INC.净利率更高（5.1% vs -62.0%，领先67.2%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -5.7%），AVIAT NETWORKS, INC.自由现金流更多（$22.5M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 0.3%）
Aviat Networks是全球领先的微波传输与回传解决方案供应商，为公共及私营通信运营商提供通信基础设施支撑，同时也面向企业客户提供相关产品与服务，助力客户构建稳定高效的通信网络。
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。
AVNW vs RARE — 直观对比
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $111.5M | $207.3M |
| 净利润 | $5.7M | $-128.6M |
| 毛利率 | 32.4% | — |
| 营业利润率 | 6.5% | -54.7% |
| 净利率 | 5.1% | -62.0% |
| 营收同比 | -5.7% | 25.9% |
| 净利润同比 | 27.2% | 3.5% |
| 每股收益（稀释后） | $0.44 | $-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 | $111.5M | $207.3M | ||
| Q3 25 | $107.3M | $159.9M | ||
| Q2 25 | $115.3M | $166.5M | ||
| Q1 25 | $112.6M | $139.3M | ||
| Q4 24 | $118.2M | $164.6M | ||
| Q3 24 | $88.4M | $139.5M | ||
| Q2 24 | $116.7M | $147.0M | ||
| Q1 24 | $110.8M | $108.8M |
| Q4 25 | $5.7M | $-128.6M | ||
| Q3 25 | $162.0K | $-180.4M | ||
| Q2 25 | $5.2M | $-115.0M | ||
| Q1 25 | $3.5M | $-151.1M | ||
| Q4 24 | $4.5M | $-133.2M | ||
| Q3 24 | $-11.9M | $-133.5M | ||
| Q2 24 | $1.5M | $-131.6M | ||
| Q1 24 | $3.9M | $-170.7M |
| Q4 25 | 32.4% | — | ||
| Q3 25 | 33.2% | — | ||
| Q2 25 | 34.2% | — | ||
| Q1 25 | 34.9% | — | ||
| Q4 24 | 34.6% | — | ||
| Q3 24 | 22.4% | — | ||
| Q2 24 | 35.3% | — | ||
| Q1 24 | 32.5% | — |
| Q4 25 | 6.5% | -54.7% | ||
| Q3 25 | 4.8% | -106.9% | ||
| Q2 25 | 7.7% | -64.8% | ||
| Q1 25 | 8.3% | -102.6% | ||
| Q4 24 | 6.7% | -74.3% | ||
| Q3 24 | -17.6% | -94.6% | ||
| Q2 24 | 4.7% | -79.1% | ||
| Q1 24 | 5.1% | -151.9% |
| Q4 25 | 5.1% | -62.0% | ||
| Q3 25 | 0.2% | -112.8% | ||
| Q2 25 | 4.5% | -69.0% | ||
| Q1 25 | 3.1% | -108.5% | ||
| Q4 24 | 3.8% | -80.9% | ||
| Q3 24 | -13.4% | -95.7% | ||
| Q2 24 | 1.3% | -89.5% | ||
| Q1 24 | 3.5% | -156.8% |
| Q4 25 | $0.44 | $-1.28 | ||
| Q3 25 | $0.01 | $-1.81 | ||
| Q2 25 | $0.42 | $-1.17 | ||
| Q1 25 | $0.27 | $-1.57 | ||
| Q4 24 | $0.35 | $-1.34 | ||
| Q3 24 | $-0.94 | $-1.40 | ||
| Q2 24 | $0.11 | $-1.52 | ||
| Q1 24 | $0.30 | $-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 | $86.5M | $421.0M |
| 总债务越低越好 | $105.4M | — |
| 股东权益账面价值 | $271.6M | $-80.0M |
| 总资产 | $659.4M | $1.5B |
| 负债/权益比越低杠杆越低 | 0.39× | — |
8季度趋势，按日历期对齐
| Q4 25 | $86.5M | $421.0M | ||
| Q3 25 | $64.8M | $202.5M | ||
| Q2 25 | $59.7M | $176.3M | ||
| Q1 25 | $49.4M | $127.1M | ||
| Q4 24 | $52.6M | $174.0M | ||
| Q3 24 | $51.0M | $150.6M | ||
| Q2 24 | $64.6M | $480.7M | ||
| Q1 24 | $59.2M | $112.3M |
| Q4 25 | $105.4M | — | ||
| Q3 25 | $106.5M | — | ||
| Q2 25 | $87.6M | — | ||
| Q1 25 | $73.9M | — | ||
| Q4 24 | $74.9M | — | ||
| Q3 24 | $83.4M | — | ||
| Q2 24 | $48.4M | — | ||
| Q1 24 | $48.9M | — |
| Q4 25 | $271.6M | $-80.0M | ||
| Q3 25 | $263.6M | $9.2M | ||
| Q2 25 | $263.2M | $151.3M | ||
| Q1 25 | $256.1M | $144.2M | ||
| Q4 24 | $249.6M | $255.0M | ||
| Q3 24 | $247.1M | $346.8M | ||
| Q2 24 | $255.9M | $432.4M | ||
| Q1 24 | $256.0M | $140.3M |
| Q4 25 | $659.4M | $1.5B | ||
| Q3 25 | $643.3M | $1.2B | ||
| Q2 25 | $633.3M | $1.3B | ||
| Q1 25 | $628.3M | $1.3B | ||
| Q4 24 | $594.1M | $1.5B | ||
| Q3 24 | $590.9M | $1.5B | ||
| Q2 24 | $535.2M | $1.6B | ||
| Q1 24 | $490.3M | $1.3B |
| Q4 25 | 0.39× | — | ||
| Q3 25 | 0.40× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.30× | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.19× | — | ||
| Q1 24 | 0.19× | — |
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 | $23.9M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $22.5M | $-100.8M |
| 自由现金流率自由现金流/营收 | 20.2% | -48.6% |
| 资本支出强度资本支出/营收 | 1.3% | 0.5% |
| 现金转化率经营现金流/净利润 | 4.18× | — |
| 过去12个月自由现金流最近4个季度 | $16.1M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $23.9M | $-99.8M | ||
| Q3 25 | $-11.7M | $-91.4M | ||
| Q2 25 | $10.5M | $-108.3M | ||
| Q1 25 | $1.6M | $-166.5M | ||
| Q4 24 | $20.8M | $-79.3M | ||
| Q3 24 | $-27.2M | $-67.0M | ||
| Q2 24 | $8.3M | $-77.0M | ||
| Q1 24 | $15.3M | $-190.7M |
| Q4 25 | $22.5M | $-100.8M | ||
| Q3 25 | $-13.5M | $-92.7M | ||
| Q2 25 | $8.2M | $-110.7M | ||
| Q1 25 | $-1.2M | $-167.8M | ||
| Q4 24 | $18.3M | $-79.5M | ||
| Q3 24 | $-32.6M | $-68.6M | ||
| Q2 24 | $7.5M | $-79.0M | ||
| Q1 24 | $14.8M | $-193.9M |
| Q4 25 | 20.2% | -48.6% | ||
| Q3 25 | -12.6% | -58.0% | ||
| Q2 25 | 7.1% | -66.5% | ||
| Q1 25 | -1.0% | -120.5% | ||
| Q4 24 | 15.5% | -48.3% | ||
| Q3 24 | -36.8% | -49.2% | ||
| Q2 24 | 6.4% | -53.7% | ||
| Q1 24 | 13.4% | -178.2% |
| Q4 25 | 1.3% | 0.5% | ||
| Q3 25 | 1.6% | 0.8% | ||
| Q2 25 | 2.0% | 1.5% | ||
| Q1 25 | 2.5% | 1.0% | ||
| Q4 24 | 2.1% | 0.1% | ||
| Q3 24 | 6.1% | 1.2% | ||
| Q2 24 | 0.7% | 1.4% | ||
| Q1 24 | 0.4% | 3.0% |
| Q4 25 | 4.18× | — | ||
| Q3 25 | -72.48× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 4.62× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.37× | — | ||
| Q1 24 | 3.96× | — |
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
AVNW
| Products | $81.2M | 73% |
| Services | $30.3M | 27% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
