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BLACK HILLS CORP（BKH）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
BLACK HILLS CORP的季度营收约是Ultragenyx Pharmaceutical Inc.的1.2倍（$241.6M vs $207.3M），BLACK HILLS CORP净利率更高（55.1% vs -62.0%，领先117.1%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -3.0%），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -22.0%）
布莱克山集团是美国多元化能源企业，总部位于南达科他州拉皮德城，名称来源于当地的布莱克山区域。公司主营电力与天然气公用事业，服务覆盖南达科他、蒙大拿、怀俄明、科罗拉多等多个州，电力产品行销整个美国西部地区。
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。
BKH vs RARE — 直观对比
营收规模更大
BKH
是对方的1.2倍
$207.3M
营收增速更快
RARE
高出28.9%
-3.0%
净利率更高
BKH
高出117.1%
-62.0%
两年增速更快
RARE
近两年复合增速
-22.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $241.6M | $207.3M |
| 净利润 | $133.1M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | 83.6% | -54.7% |
| 净利率 | 55.1% | -62.0% |
| 营收同比 | -3.0% | 25.9% |
| 净利润同比 | -2.4% | 3.5% |
| 每股收益（稀释后） | $1.73 | $-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
营收BKHRARE
| Q1 26 | $241.6M | — | ||
| Q4 25 | $622.7M | $207.3M | ||
| Q3 25 | $427.4M | $159.9M | ||
| Q2 25 | $435.7M | $166.5M | ||
| Q1 25 | $800.4M | $139.3M | ||
| Q4 24 | $585.1M | $164.6M | ||
| Q3 24 | $398.6M | $139.5M | ||
| Q2 24 | $397.1M | $147.0M |
净利润BKHRARE
| Q1 26 | $133.1M | — | ||
| Q4 25 | $104.9M | $-128.6M | ||
| Q3 25 | $24.9M | $-180.4M | ||
| Q2 25 | $27.5M | $-115.0M | ||
| Q1 25 | $134.3M | $-151.1M | ||
| Q4 24 | $98.0M | $-133.2M | ||
| Q3 24 | $24.4M | $-133.5M | ||
| Q2 24 | $22.8M | $-131.6M |
营业利润率BKHRARE
| Q1 26 | 83.6% | — | ||
| Q4 25 | 27.5% | -54.7% | ||
| Q3 25 | 18.4% | -106.9% | ||
| Q2 25 | 18.9% | -64.8% | ||
| Q1 25 | 25.6% | -102.6% | ||
| Q4 24 | 27.9% | -74.3% | ||
| Q3 24 | 19.0% | -94.6% | ||
| Q2 24 | 17.8% | -79.1% |
净利率BKHRARE
| Q1 26 | 55.1% | — | ||
| Q4 25 | 16.8% | -62.0% | ||
| Q3 25 | 5.8% | -112.8% | ||
| Q2 25 | 6.3% | -69.0% | ||
| Q1 25 | 16.8% | -108.5% | ||
| Q4 24 | 16.7% | -80.9% | ||
| Q3 24 | 6.1% | -95.7% | ||
| Q2 24 | 5.7% | -89.5% |
每股收益（稀释后）BKHRARE
| Q1 26 | $1.73 | — | ||
| Q4 25 | $1.39 | $-1.28 | ||
| Q3 25 | $0.34 | $-1.81 | ||
| Q2 25 | $0.38 | $-1.17 | ||
| Q1 25 | $1.87 | $-1.57 | ||
| Q4 24 | $1.36 | $-1.34 | ||
| Q3 24 | $0.35 | $-1.40 | ||
| Q2 24 | $0.33 | $-1.52 |
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 | — | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $-80.0M |
| 总资产 | — | $1.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资BKHRARE
| Q1 26 | — | — | ||
| Q4 25 | $182.8M | $421.0M | ||
| Q3 25 | $21.1M | $202.5M | ||
| Q2 25 | $8.1M | $176.3M | ||
| Q1 25 | $6.6M | $127.1M | ||
| Q4 24 | $16.1M | $174.0M | ||
| Q3 24 | $12.5M | $150.6M | ||
| Q2 24 | $624.8M | $480.7M |
股东权益BKHRARE
| Q1 26 | — | — | ||
| Q4 25 | $3.8B | $-80.0M | ||
| Q3 25 | $3.8B | $9.2M | ||
| Q2 25 | $3.6B | $151.3M | ||
| Q1 25 | $3.6B | $144.2M | ||
| Q4 24 | $3.5B | $255.0M | ||
| Q3 24 | $3.4B | $346.8M | ||
| Q2 24 | $3.4B | $432.4M |
总资产BKHRARE
| Q1 26 | — | — | ||
| Q4 25 | $10.9B | $1.5B | ||
| Q3 25 | $10.3B | $1.2B | ||
| Q2 25 | $10.1B | $1.3B | ||
| Q1 25 | $10.1B | $1.3B | ||
| Q4 24 | $10.0B | $1.5B | ||
| Q3 24 | $9.7B | $1.5B | ||
| Q2 24 | $10.2B | $1.6B |
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 | — | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | — | $-100.8M |
| 自由现金流率自由现金流/营收 | — | -48.6% |
| 资本支出强度资本支出/营收 | — | 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 | — | $-472.0M |
8季度趋势，按日历期对齐
经营现金流BKHRARE
| Q1 26 | — | — | ||
| Q4 25 | $168.1M | $-99.8M | ||
| Q3 25 | $88.9M | $-91.4M | ||
| Q2 25 | $188.6M | $-108.3M | ||
| Q1 25 | $227.8M | $-166.5M | ||
| Q4 24 | $153.2M | $-79.3M | ||
| Q3 24 | $102.1M | $-67.0M | ||
| Q2 24 | $230.6M | $-77.0M |
自由现金流BKHRARE
| Q1 26 | — | — | ||
| Q4 25 | $-101.5M | $-100.8M | ||
| Q3 25 | $-89.5M | $-92.7M | ||
| Q2 25 | $-30.3M | $-110.7M | ||
| Q1 25 | $74.9M | $-167.8M | ||
| Q4 24 | $-60.5M | $-79.5M | ||
| Q3 24 | $-86.0M | $-68.6M | ||
| Q2 24 | $64.4M | $-79.0M |
自由现金流率BKHRARE
| Q1 26 | — | — | ||
| Q4 25 | -16.3% | -48.6% | ||
| Q3 25 | -20.9% | -58.0% | ||
| Q2 25 | -7.0% | -66.5% | ||
| Q1 25 | 9.4% | -120.5% | ||
| Q4 24 | -10.3% | -48.3% | ||
| Q3 24 | -21.6% | -49.2% | ||
| Q2 24 | 16.2% | -53.7% |
资本支出强度BKHRARE
| Q1 26 | — | — | ||
| Q4 25 | 43.3% | 0.5% | ||
| Q3 25 | 41.7% | 0.8% | ||
| Q2 25 | 50.2% | 1.5% | ||
| Q1 25 | 19.1% | 1.0% | ||
| Q4 24 | 36.5% | 0.1% | ||
| Q3 24 | 47.2% | 1.2% | ||
| Q2 24 | 41.9% | 1.4% |
现金转化率BKHRARE
| Q1 26 | — | — | ||
| Q4 25 | 1.60× | — | ||
| Q3 25 | 3.57× | — | ||
| Q2 25 | 6.86× | — | ||
| Q1 25 | 1.70× | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 4.18× | — | ||
| Q2 24 | 10.11× | — |
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
BKH
暂无分部数据
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
