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BRC Inc.（BRCC）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BRC Inc.的1.8倍（$207.3M vs $112.7M），BRC Inc.净利率更高（-2.8% vs -62.0%，领先59.2%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 6.5%），BRC Inc.自由现金流更多（$-9.4M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 7.0%）
BRC Inc.是一家美国高端咖啡与生活方式品牌，主营烘焙咖啡豆、即饮咖啡饮品、品牌服饰及户外装备，核心客群包含退伍军人、急救人员与户外爱好者，在北美地区通过电商及线下实体门店渠道销售产品。
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。
BRCC vs RARE — 直观对比
营收规模更大
RARE
是对方的1.8倍
$112.7M
营收增速更快
RARE
高出19.4%
6.5%
净利率更高
BRCC
高出59.2%
-62.0%
自由现金流更多
BRCC
多$91.4M
$-100.8M
两年增速更快
RARE
近两年复合增速
7.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $112.7M | $207.3M |
| 净利润 | $-3.2M | $-128.6M |
| 毛利率 | 32.1% | — |
| 营业利润率 | -6.3% | -54.7% |
| 净利率 | -2.8% | -62.0% |
| 营收同比 | 6.5% | 25.9% |
| 净利润同比 | -29.3% | 3.5% |
| 每股收益（稀释后） | $-0.02 | $-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BRCCRARE
| Q4 25 | $112.7M | $207.3M | ||
| Q3 25 | $100.7M | $159.9M | ||
| Q2 25 | $94.8M | $166.5M | ||
| Q1 25 | $90.0M | $139.3M | ||
| Q4 24 | $105.9M | $164.6M | ||
| Q3 24 | $98.2M | $139.5M | ||
| Q2 24 | $89.0M | $147.0M | ||
| Q1 24 | $98.4M | $108.8M |
净利润BRCCRARE
| Q4 25 | $-3.2M | $-128.6M | ||
| Q3 25 | $-486.0K | $-180.4M | ||
| Q2 25 | $-5.3M | $-115.0M | ||
| Q1 25 | $-2.9M | $-151.1M | ||
| Q4 24 | $-2.5M | $-133.2M | ||
| Q3 24 | $-535.0K | $-133.5M | ||
| Q2 24 | $-482.0K | $-131.6M | ||
| Q1 24 | $548.0K | $-170.7M |
毛利率BRCCRARE
| Q4 25 | 32.1% | — | ||
| Q3 25 | 36.9% | — | ||
| Q2 25 | 33.9% | — | ||
| Q1 25 | 36.1% | — | ||
| Q4 24 | 38.1% | — | ||
| Q3 24 | 42.1% | — | ||
| Q2 24 | 41.9% | — | ||
| Q1 24 | 42.9% | — |
营业利润率BRCCRARE
| Q4 25 | -6.3% | -54.7% | ||
| Q3 25 | 0.5% | -106.9% | ||
| Q2 25 | -13.3% | -64.8% | ||
| Q1 25 | -6.0% | -102.6% | ||
| Q4 24 | -2.1% | -74.3% | ||
| Q3 24 | 1.1% | -94.6% | ||
| Q2 24 | 1.1% | -79.1% | ||
| Q1 24 | 4.0% | -151.9% |
净利率BRCCRARE
| Q4 25 | -2.8% | -62.0% | ||
| Q3 25 | -0.5% | -112.8% | ||
| Q2 25 | -5.6% | -69.0% | ||
| Q1 25 | -3.2% | -108.5% | ||
| Q4 24 | -2.3% | -80.9% | ||
| Q3 24 | -0.5% | -95.7% | ||
| Q2 24 | -0.5% | -89.5% | ||
| Q1 24 | 0.6% | -156.8% |
每股收益（稀释后）BRCCRARE
| Q4 25 | $-0.02 | $-1.28 | ||
| Q3 25 | $0.00 | $-1.81 | ||
| Q2 25 | $-0.07 | $-1.17 | ||
| Q1 25 | $-0.04 | $-1.57 | ||
| Q4 24 | $-0.03 | $-1.34 | ||
| Q3 24 | $-0.01 | $-1.40 | ||
| Q2 24 | $-0.01 | $-1.52 | ||
| Q1 24 | $0.01 | $-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 | $4.3M | $421.0M |
| 总债务越低越好 | $34.7M | — |
| 股东权益账面价值 | $45.7M | $-80.0M |
| 总资产 | $209.2M | $1.5B |
| 负债/权益比越低杠杆越低 | 0.76× | — |
8季度趋势，按日历期对齐
现金及短期投资BRCCRARE
| Q4 25 | $4.3M | $421.0M | ||
| Q3 25 | $9.5M | $202.5M | ||
| Q2 25 | $4.3M | $176.3M | ||
| Q1 25 | $3.9M | $127.1M | ||
| Q4 24 | $6.8M | $174.0M | ||
| Q3 24 | $7.3M | $150.6M | ||
| Q2 24 | $9.6M | $480.7M | ||
| Q1 24 | $4.0M | $112.3M |
总债务BRCCRARE
| Q4 25 | $34.7M | — | ||
| Q3 25 | $35.0M | — | ||
| Q2 25 | $72.7M | — | ||
| Q1 25 | $68.8M | — | ||
| Q4 24 | $65.1M | — | ||
| Q3 24 | $64.9M | — | ||
| Q2 24 | $66.5M | — | ||
| Q1 24 | $61.5M | — |
股东权益BRCCRARE
| Q4 25 | $45.7M | $-80.0M | ||
| Q3 25 | $48.0M | $9.2M | ||
| Q2 25 | $10.1M | $151.3M | ||
| Q1 25 | $11.2M | $144.2M | ||
| Q4 24 | $13.2M | $255.0M | ||
| Q3 24 | $14.5M | $346.8M | ||
| Q2 24 | $14.9M | $432.4M | ||
| Q1 24 | $14.6M | $140.3M |
总资产BRCCRARE
| Q4 25 | $209.2M | $1.5B | ||
| Q3 25 | $222.4M | $1.2B | ||
| Q2 25 | $225.3M | $1.3B | ||
| Q1 25 | $222.9M | $1.3B | ||
| Q4 24 | $227.4M | $1.5B | ||
| Q3 24 | $233.7M | $1.5B | ||
| Q2 24 | $229.9M | $1.6B | ||
| Q1 24 | $227.2M | $1.3B |
负债/权益比BRCCRARE
| Q4 25 | 0.76× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 7.19× | — | ||
| Q1 25 | 6.15× | — | ||
| Q4 24 | 4.94× | — | ||
| Q3 24 | 4.47× | — | ||
| Q2 24 | 4.46× | — | ||
| Q1 24 | 4.21× | — |
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 | $-8.7M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $-9.4M | $-100.8M |
| 自由现金流率自由现金流/营收 | -8.3% | -48.6% |
| 资本支出强度资本支出/营收 | 0.6% | 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 | $-13.5M | $-472.0M |
8季度趋势，按日历期对齐
经营现金流BRCCRARE
| Q4 25 | $-8.7M | $-99.8M | ||
| Q3 25 | $6.4M | $-91.4M | ||
| Q2 25 | $-3.3M | $-108.3M | ||
| Q1 25 | $-4.1M | $-166.5M | ||
| Q4 24 | $2.2M | $-79.3M | ||
| Q3 24 | $1.9M | $-67.0M | ||
| Q2 24 | $2.3M | $-77.0M | ||
| Q1 24 | $4.9M | $-190.7M |
自由现金流BRCCRARE
| Q4 25 | $-9.4M | $-100.8M | ||
| Q3 25 | $5.6M | $-92.7M | ||
| Q2 25 | $-4.3M | $-110.7M | ||
| Q1 25 | $-5.3M | $-167.8M | ||
| Q4 24 | $504.0K | $-79.5M | ||
| Q3 24 | $-205.0K | $-68.6M | ||
| Q2 24 | $147.0K | $-79.0M | ||
| Q1 24 | $2.2M | $-193.9M |
自由现金流率BRCCRARE
| Q4 25 | -8.3% | -48.6% | ||
| Q3 25 | 5.5% | -58.0% | ||
| Q2 25 | -4.5% | -66.5% | ||
| Q1 25 | -5.9% | -120.5% | ||
| Q4 24 | 0.5% | -48.3% | ||
| Q3 24 | -0.2% | -49.2% | ||
| Q2 24 | 0.2% | -53.7% | ||
| Q1 24 | 2.2% | -178.2% |
资本支出强度BRCCRARE
| Q4 25 | 0.6% | 0.5% | ||
| Q3 25 | 0.8% | 0.8% | ||
| Q2 25 | 1.0% | 1.5% | ||
| Q1 25 | 1.3% | 1.0% | ||
| Q4 24 | 1.6% | 0.1% | ||
| Q3 24 | 2.2% | 1.2% | ||
| Q2 24 | 2.4% | 1.4% | ||
| Q1 24 | 2.8% | 3.0% |
现金转化率BRCCRARE
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 8.97× | — |
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
BRCC
| Sales Channel Through Intermediary | $72.9M | 65% |
| Sales Channel Directly To Consumer | $34.4M | 31% |
| Outpost | $5.4M | 5% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
