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BKV Corp（BKV）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
BKV Corp的季度营收约是Ultragenyx Pharmaceutical Inc.的1.2倍（$255.9M vs $207.3M），BKV Corp净利率更高（27.5% vs -62.0%，领先89.5%）
BKV Corp是一家北美独立能源企业，专注于天然气的可持续勘探、生产与配送，核心运营资产位于阿巴拉契亚盆地，服务区域内公用事业、工业及商业客户，同时投资碳捕获等低碳技术以降低运营排放。
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。
BKV vs RARE — 直观对比
营收规模更大
BKV
是对方的1.2倍
$207.3M
净利率更高
BKV
高出89.5%
-62.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $255.9M | $207.3M |
| 净利润 | $70.4M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | 39.3% | -54.7% |
| 净利率 | 27.5% | -62.0% |
| 营收同比 | — | 25.9% |
| 净利润同比 | — | 3.5% |
| 每股收益（稀释后） | $0.78 | $-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BKVRARE
| Q4 25 | $255.9M | $207.3M | ||
| Q3 25 | $199.8M | $159.9M | ||
| Q2 25 | $207.1M | $166.5M | ||
| Q1 25 | $231.0M | $139.3M | ||
| Q4 24 | — | $164.6M | ||
| Q3 24 | $133.5M | $139.5M | ||
| Q2 24 | — | $147.0M | ||
| Q1 24 | — | $108.8M |
净利润BKVRARE
| Q4 25 | $70.4M | $-128.6M | ||
| Q3 25 | $76.8M | $-180.4M | ||
| Q2 25 | $104.6M | $-115.0M | ||
| Q1 25 | $-78.7M | $-151.1M | ||
| Q4 24 | — | $-133.2M | ||
| Q3 24 | $12.9M | $-133.5M | ||
| Q2 24 | — | $-131.6M | ||
| Q1 24 | — | $-170.7M |
营业利润率BKVRARE
| Q4 25 | 39.3% | -54.7% | ||
| Q3 25 | 41.2% | -106.9% | ||
| Q2 25 | 62.0% | -64.8% | ||
| Q1 25 | -40.6% | -102.6% | ||
| Q4 24 | — | -74.3% | ||
| Q3 24 | -15.7% | -94.6% | ||
| Q2 24 | — | -79.1% | ||
| Q1 24 | — | -151.9% |
净利率BKVRARE
| Q4 25 | 27.5% | -62.0% | ||
| Q3 25 | 38.5% | -112.8% | ||
| Q2 25 | 50.5% | -69.0% | ||
| Q1 25 | -34.1% | -108.5% | ||
| Q4 24 | — | -80.9% | ||
| Q3 24 | 9.6% | -95.7% | ||
| Q2 24 | — | -89.5% | ||
| Q1 24 | — | -156.8% |
每股收益（稀释后）BKVRARE
| Q4 25 | $0.78 | $-1.28 | ||
| Q3 25 | $0.90 | $-1.81 | ||
| Q2 25 | $1.23 | $-1.17 | ||
| Q1 25 | $-0.93 | $-1.57 | ||
| Q4 24 | — | $-1.34 | ||
| Q3 24 | $0.18 | $-1.40 | ||
| Q2 24 | — | $-1.52 | ||
| Q1 24 | — | $-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 | $199.4M | $421.0M |
| 总债务越低越好 | $486.8M | — |
| 股东权益账面价值 | $2.0B | $-80.0M |
| 总资产 | $3.1B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.24× | — |
8季度趋势，按日历期对齐
现金及短期投资BKVRARE
| Q4 25 | $199.4M | $421.0M | ||
| Q3 25 | $83.1M | $202.5M | ||
| Q2 25 | $21.4M | $176.3M | ||
| Q1 25 | $15.3M | $127.1M | ||
| Q4 24 | — | $174.0M | ||
| Q3 24 | $31.3M | $150.6M | ||
| Q2 24 | — | $480.7M | ||
| Q1 24 | — | $112.3M |
总债务BKVRARE
| Q4 25 | $486.8M | — | ||
| Q3 25 | $486.6M | — | ||
| Q2 25 | $200.0M | — | ||
| Q1 25 | $200.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $190.0M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益BKVRARE
| Q4 25 | $2.0B | $-80.0M | ||
| Q3 25 | $1.8B | $9.2M | ||
| Q2 25 | $1.6B | $151.3M | ||
| Q1 25 | $1.5B | $144.2M | ||
| Q4 24 | — | $255.0M | ||
| Q3 24 | $1.6B | $346.8M | ||
| Q2 24 | — | $432.4M | ||
| Q1 24 | — | $140.3M |
总资产BKVRARE
| Q4 25 | $3.1B | $1.5B | ||
| Q3 25 | $2.9B | $1.2B | ||
| Q2 25 | $2.3B | $1.3B | ||
| Q1 25 | $2.3B | $1.3B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | $2.3B | $1.5B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.3B |
负债/权益比BKVRARE
| Q4 25 | 0.24× | — | ||
| Q3 25 | 0.27× | — | ||
| Q2 25 | 0.13× | — | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.12× | — | ||
| 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 | $69.4M | $-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 | 0.99× | — |
| 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BKVRARE
| Q4 25 | $69.4M | $-99.8M | ||
| Q3 25 | $74.5M | $-91.4M | ||
| Q2 25 | $76.2M | $-108.3M | ||
| Q1 25 | $22.6M | $-166.5M | ||
| Q4 24 | — | $-79.3M | ||
| Q3 24 | — | $-67.0M | ||
| Q2 24 | — | $-77.0M | ||
| Q1 24 | — | $-190.7M |
自由现金流BKVRARE
| Q4 25 | — | $-100.8M | ||
| Q3 25 | $-126.9M | $-92.7M | ||
| Q2 25 | — | $-110.7M | ||
| Q1 25 | — | $-167.8M | ||
| Q4 24 | — | $-79.5M | ||
| Q3 24 | — | $-68.6M | ||
| Q2 24 | — | $-79.0M | ||
| Q1 24 | — | $-193.9M |
自由现金流率BKVRARE
| Q4 25 | — | -48.6% | ||
| Q3 25 | -63.5% | -58.0% | ||
| Q2 25 | — | -66.5% | ||
| Q1 25 | — | -120.5% | ||
| Q4 24 | — | -48.3% | ||
| Q3 24 | — | -49.2% | ||
| Q2 24 | — | -53.7% | ||
| Q1 24 | — | -178.2% |
资本支出强度BKVRARE
| Q4 25 | — | 0.5% | ||
| Q3 25 | 100.9% | 0.8% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 3.0% |
现金转化率BKVRARE
| Q4 25 | 0.99× | — | ||
| Q3 25 | 0.97× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
BKV
| Natural Gas NGL And Oil | $249.3M | 97% |
| Related Party And Other | $4.7M | 2% |
| Marketing | $2.8M | 1% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
