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AMERICAN STATES WATER CO（AWR）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AMERICAN STATES WATER CO的1.3倍（$207.3M vs $164.3M），AMERICAN STATES WATER CO净利率更高（17.5% vs -62.0%，领先79.5%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 14.8%），AMERICAN STATES WATER CO自由现金流更多（$-36.0M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 10.2%）
美国州水公司是美国的上市公用事业企业，通过旗下子公司在全美范围内提供自来水供应及污水处理相关服务，服务覆盖居民、商业及公共机构等多元客户群体，是当地水务服务领域的重要参与企业。
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。
AWR vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $164.3M | $207.3M |
| 净利润 | $28.7M | $-128.6M |
| 毛利率 | 88.9% | — |
| 营业利润率 | 27.4% | -54.7% |
| 净利率 | 17.5% | -62.0% |
| 营收同比 | 14.8% | 25.9% |
| 净利润同比 | 1.1% | 3.5% |
| 每股收益（稀释后） | $0.74 | $-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 | $164.3M | $207.3M | ||
| Q3 25 | $182.7M | $159.9M | ||
| Q2 25 | $163.1M | $166.5M | ||
| Q1 25 | $148.0M | $139.3M | ||
| Q4 24 | $143.1M | $164.6M | ||
| Q3 24 | $161.8M | $139.5M | ||
| Q2 24 | $155.3M | $147.0M | ||
| Q1 24 | $135.3M | $108.8M |
| Q4 25 | $28.7M | $-128.6M | ||
| Q3 25 | $41.2M | $-180.4M | ||
| Q2 25 | $33.7M | $-115.0M | ||
| Q1 25 | $26.8M | $-151.1M | ||
| Q4 24 | $28.4M | $-133.2M | ||
| Q3 24 | $35.8M | $-133.5M | ||
| Q2 24 | $31.9M | $-131.6M | ||
| Q1 24 | $23.1M | $-170.7M |
| Q4 25 | 88.9% | — | ||
| Q3 25 | 91.0% | — | ||
| Q2 25 | 92.1% | — | ||
| Q1 25 | 91.3% | — | ||
| Q4 24 | 92.4% | — | ||
| Q3 24 | 92.7% | — | ||
| Q2 24 | 89.6% | — | ||
| Q1 24 | 88.4% | — |
| Q4 25 | 27.4% | -54.7% | ||
| Q3 25 | 33.8% | -106.9% | ||
| Q2 25 | 31.3% | -64.8% | ||
| Q1 25 | 30.8% | -102.6% | ||
| Q4 24 | 27.0% | -74.3% | ||
| Q3 24 | 34.0% | -94.6% | ||
| Q2 24 | 33.3% | -79.1% | ||
| Q1 24 | 28.8% | -151.9% |
| Q4 25 | 17.5% | -62.0% | ||
| Q3 25 | 22.5% | -112.8% | ||
| Q2 25 | 20.7% | -69.0% | ||
| Q1 25 | 18.1% | -108.5% | ||
| Q4 24 | 19.9% | -80.9% | ||
| Q3 24 | 22.1% | -95.7% | ||
| Q2 24 | 20.5% | -89.5% | ||
| Q1 24 | 17.1% | -156.8% |
| Q4 25 | $0.74 | $-1.28 | ||
| Q3 25 | $1.06 | $-1.81 | ||
| Q2 25 | $0.87 | $-1.17 | ||
| Q1 25 | $0.70 | $-1.57 | ||
| Q4 24 | $0.75 | $-1.34 | ||
| Q3 24 | $0.95 | $-1.40 | ||
| Q2 24 | $0.85 | $-1.52 | ||
| Q1 24 | $0.62 | $-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 | $18.8M | $421.0M |
| 总债务越低越好 | $782.7M | — |
| 股东权益账面价值 | $1.0B | $-80.0M |
| 总资产 | $2.7B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.75× | — |
8季度趋势，按日历期对齐
| Q4 25 | $18.8M | $421.0M | ||
| Q3 25 | $26.1M | $202.5M | ||
| Q2 25 | $20.2M | $176.3M | ||
| Q1 25 | $21.2M | $127.1M | ||
| Q4 24 | $26.7M | $174.0M | ||
| Q3 24 | $16.5M | $150.6M | ||
| Q2 24 | $3.6M | $480.7M | ||
| Q1 24 | $17.0M | $112.3M |
| Q4 25 | $782.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $640.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.0B | $-80.0M | ||
| Q3 25 | $1.0B | $9.2M | ||
| Q2 25 | $972.5M | $151.3M | ||
| Q1 25 | $956.4M | $144.2M | ||
| Q4 24 | $920.1M | $255.0M | ||
| Q3 24 | $879.5M | $346.8M | ||
| Q2 24 | $833.5M | $432.4M | ||
| Q1 24 | $800.5M | $140.3M |
| Q4 25 | $2.7B | $1.5B | ||
| Q3 25 | $2.7B | $1.2B | ||
| Q2 25 | $2.6B | $1.3B | ||
| Q1 25 | $2.5B | $1.3B | ||
| Q4 24 | $2.5B | $1.5B | ||
| Q3 24 | $2.4B | $1.5B | ||
| Q2 24 | $2.3B | $1.6B | ||
| Q1 24 | $2.3B | $1.3B |
| Q4 25 | 0.75× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $27.7M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $-36.0M | $-100.8M |
| 自由现金流率自由现金流/营收 | -21.9% | -48.6% |
| 资本支出强度资本支出/营收 | 38.8% | 0.5% |
| 现金转化率经营现金流/净利润 | 0.96× | — |
| 过去12个月自由现金流最近4个季度 | $-7.1M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $27.7M | $-99.8M | ||
| Q3 25 | $92.4M | $-91.4M | ||
| Q2 25 | $64.6M | $-108.3M | ||
| Q1 25 | $45.1M | $-166.5M | ||
| Q4 24 | $64.5M | $-79.3M | ||
| Q3 24 | $63.7M | $-67.0M | ||
| Q2 24 | $24.7M | $-77.0M | ||
| Q1 24 | $45.8M | $-190.7M |
| Q4 25 | $-36.0M | $-100.8M | ||
| Q3 25 | $37.7M | $-92.7M | ||
| Q2 25 | $13.7M | $-110.7M | ||
| Q1 25 | $-22.5M | $-167.8M | ||
| Q4 24 | $6.0M | $-79.5M | ||
| Q3 24 | $-478.0K | $-68.6M | ||
| Q2 24 | $-37.0M | $-79.0M | ||
| Q1 24 | $-1.7M | $-193.9M |
| Q4 25 | -21.9% | -48.6% | ||
| Q3 25 | 20.7% | -58.0% | ||
| Q2 25 | 8.4% | -66.5% | ||
| Q1 25 | -15.2% | -120.5% | ||
| Q4 24 | 4.2% | -48.3% | ||
| Q3 24 | -0.3% | -49.2% | ||
| Q2 24 | -23.8% | -53.7% | ||
| Q1 24 | -1.3% | -178.2% |
| Q4 25 | 38.8% | 0.5% | ||
| Q3 25 | 29.9% | 0.8% | ||
| Q2 25 | 31.2% | 1.5% | ||
| Q1 25 | 45.6% | 1.0% | ||
| Q4 24 | 40.9% | 0.1% | ||
| Q3 24 | 39.7% | 1.2% | ||
| Q2 24 | 39.8% | 1.4% | ||
| Q1 24 | 35.2% | 3.0% |
| Q4 25 | 0.96× | — | ||
| Q3 25 | 2.24× | — | ||
| Q2 25 | 1.92× | — | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 2.27× | — | ||
| Q3 24 | 1.78× | — | ||
| Q2 24 | 0.78× | — | ||
| Q1 24 | 1.98× | — |
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
AWR
| Water Service Utility Operations | $110.0M | 67% |
| Public Utilities Inventory Water | $22.3M | 14% |
| Wastewater | $15.9M | 10% |
| Electric Service Utility Operations | $15.2M | 9% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
