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Braemar Hotels & Resorts Inc.（BHR）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Braemar Hotels & Resorts Inc.的1.3倍（$207.3M vs $165.6M），Braemar Hotels & Resorts Inc.净利率更高（-20.3% vs -62.0%，领先41.7%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -4.5%），Braemar Hotels & Resorts Inc.自由现金流更多（$-37.1M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -13.1%）
Braemar Hotels & Resorts Inc.是一家主打高端奢华酒店及度假村持有运营的房地产投资信托，主要布局美国市场，服务高端休闲旅客、企业活动主办方及商务差旅群体，通过住宿预订、配套消费及活动承办获得收益。
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。
BHR vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $165.6M | $207.3M |
| 净利润 | $-33.6M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | -7.3% | -54.7% |
| 净利率 | -20.3% | -62.0% |
| 营收同比 | -4.5% | 25.9% |
| 净利润同比 | -80.1% | 3.5% |
| 每股收益（稀释后） | $-0.67 | $-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 | $165.6M | $207.3M | ||
| Q3 25 | $143.6M | $159.9M | ||
| Q2 25 | $179.1M | $166.5M | ||
| Q1 25 | $215.8M | $139.3M | ||
| Q4 24 | $173.3M | $164.6M | ||
| Q3 24 | $148.4M | $139.5M | ||
| Q2 24 | $187.6M | $147.0M | ||
| Q1 24 | $219.1M | $108.8M |
| Q4 25 | $-33.6M | $-128.6M | ||
| Q3 25 | $5.7M | $-180.4M | ||
| Q2 25 | $-5.5M | $-115.0M | ||
| Q1 25 | $11.0M | $-151.1M | ||
| Q4 24 | $-18.7M | $-133.2M | ||
| Q3 24 | $12.6M | $-133.5M | ||
| Q2 24 | $-11.6M | $-131.6M | ||
| Q1 24 | $15.9M | $-170.7M |
| Q4 25 | -7.3% | -54.7% | ||
| Q3 25 | 20.8% | -106.9% | ||
| Q2 25 | 10.0% | -64.8% | ||
| Q1 25 | 17.0% | -102.6% | ||
| Q4 24 | 2.2% | -74.3% | ||
| Q3 24 | 47.4% | -94.6% | ||
| Q2 24 | 6.5% | -79.1% | ||
| Q1 24 | 19.4% | -151.9% |
| Q4 25 | -20.3% | -62.0% | ||
| Q3 25 | 4.0% | -112.8% | ||
| Q2 25 | -3.1% | -69.0% | ||
| Q1 25 | 5.1% | -108.5% | ||
| Q4 24 | -10.8% | -80.9% | ||
| Q3 24 | 8.5% | -95.7% | ||
| Q2 24 | -6.2% | -89.5% | ||
| Q1 24 | 7.3% | -156.8% |
| Q4 25 | $-0.67 | $-1.28 | ||
| Q3 25 | $-0.12 | $-1.81 | ||
| Q2 25 | $-0.24 | $-1.17 | ||
| Q1 25 | $-0.04 | $-1.57 | ||
| Q4 24 | $-0.47 | $-1.34 | ||
| Q3 24 | $-0.02 | $-1.40 | ||
| Q2 24 | $-0.33 | $-1.52 | ||
| Q1 24 | $0.05 | $-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 | $124.4M | $421.0M |
| 总债务越低越好 | $1.1B | — |
| 股东权益账面价值 | $138.7M | $-80.0M |
| 总资产 | $1.9B | $1.5B |
| 负债/权益比越低杠杆越低 | 7.96× | — |
8季度趋势，按日历期对齐
| Q4 25 | $124.4M | $421.0M | ||
| Q3 25 | $116.3M | $202.5M | ||
| Q2 25 | $80.2M | $176.3M | ||
| Q1 25 | $81.7M | $127.1M | ||
| Q4 24 | $135.5M | $174.0M | ||
| Q3 24 | $168.7M | $150.6M | ||
| Q2 24 | $114.6M | $480.7M | ||
| Q1 24 | $137.1M | $112.3M |
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.2B | — |
| Q4 25 | $138.7M | $-80.0M | ||
| Q3 25 | $211.9M | $9.2M | ||
| Q2 25 | $225.1M | $151.3M | ||
| Q1 25 | $238.9M | $144.2M | ||
| Q4 24 | $240.7M | $255.0M | ||
| Q3 24 | $276.9M | $346.8M | ||
| Q2 24 | $282.3M | $432.4M | ||
| Q1 24 | $307.3M | $140.3M |
| Q4 25 | $1.9B | $1.5B | ||
| Q3 25 | $2.0B | $1.2B | ||
| Q2 25 | $2.1B | $1.3B | ||
| Q1 25 | $2.1B | $1.3B | ||
| Q4 24 | $2.1B | $1.5B | ||
| Q3 24 | $2.2B | $1.5B | ||
| Q2 24 | $2.2B | $1.6B | ||
| Q1 24 | $2.3B | $1.3B |
| Q4 25 | 7.96× | — | ||
| Q3 25 | 5.50× | — | ||
| Q2 25 | 5.38× | — | ||
| Q1 25 | 5.03× | — | ||
| Q4 24 | 5.03× | — | ||
| Q3 24 | 4.36× | — | ||
| Q2 24 | 4.00× | — | ||
| Q1 24 | 3.98× | — |
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 | $40.8M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $-37.1M | $-100.8M |
| 自由现金流率自由现金流/营收 | -22.4% | -48.6% |
| 资本支出强度资本支出/营收 | 47.1% | 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 | $-59.2M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $40.8M | $-99.8M | ||
| Q3 25 | $-5.8M | $-91.4M | ||
| Q2 25 | $23.0M | $-108.3M | ||
| Q1 25 | $15.1M | $-166.5M | ||
| Q4 24 | $66.8M | $-79.3M | ||
| Q3 24 | $9.0K | $-67.0M | ||
| Q2 24 | $24.1M | $-77.0M | ||
| Q1 24 | $36.0M | $-190.7M |
| Q4 25 | $-37.1M | $-100.8M | ||
| Q3 25 | $-27.3M | $-92.7M | ||
| Q2 25 | $5.3M | $-110.7M | ||
| Q1 25 | $-159.0K | $-167.8M | ||
| Q4 24 | $-3.8M | $-79.5M | ||
| Q3 24 | $-15.6M | $-68.6M | ||
| Q2 24 | $8.2M | $-79.0M | ||
| Q1 24 | $12.7M | $-193.9M |
| Q4 25 | -22.4% | -48.6% | ||
| Q3 25 | -19.0% | -58.0% | ||
| Q2 25 | 3.0% | -66.5% | ||
| Q1 25 | -0.1% | -120.5% | ||
| Q4 24 | -2.2% | -48.3% | ||
| Q3 24 | -10.5% | -49.2% | ||
| Q2 24 | 4.4% | -53.7% | ||
| Q1 24 | 5.8% | -178.2% |
| Q4 25 | 47.1% | 0.5% | ||
| Q3 25 | 15.0% | 0.8% | ||
| Q2 25 | 9.9% | 1.5% | ||
| Q1 25 | 7.1% | 1.0% | ||
| Q4 24 | 40.7% | 0.1% | ||
| Q3 24 | 10.5% | 1.2% | ||
| Q2 24 | 8.5% | 1.4% | ||
| Q1 24 | 10.7% | 3.0% |
| Q4 25 | — | — | ||
| Q3 25 | -1.00× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.38× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.26× | — |
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
BHR
| Occupancy | $97.4M | 59% |
| Food And Beverage | $45.5M | 28% |
| Hotel Other | $22.6M | 14% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
