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CALIX, INC（CALX）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
CALIX, INC的季度营收约是Ultragenyx Pharmaceutical Inc.的1.4倍（$280.0M vs $207.3M），CALIX, INC净利率更高（4.0% vs -62.0%，领先66.0%），CALIX, INC同比增速更快（27.1% vs 25.9%），CALIX, INC自由现金流更多（$6.5M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 18.9%）
Calix是1999年成立、总部位于美国加利福尼亚州圣何塞的电信企业，专注于提供软件平台、系统及相关服务，为宽带业务的部署落地提供技术支撑，助力运营商为用户提供稳定高效的网络接入服务。
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。
CALX vs RARE — 直观对比
营收规模更大
CALX
是对方的1.4倍
$207.3M
营收增速更快
CALX
高出1.2%
25.9%
净利率更高
CALX
高出66.0%
-62.0%
自由现金流更多
CALX
多$107.3M
$-100.8M
两年增速更快
RARE
近两年复合增速
18.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $280.0M | $207.3M |
| 净利润 | $11.2M | $-128.6M |
| 毛利率 | 56.9% | — |
| 营业利润率 | 47.6% | -54.7% |
| 净利率 | 4.0% | -62.0% |
| 营收同比 | 27.1% | 25.9% |
| 净利润同比 | — | 3.5% |
| 每股收益（稀释后） | $0.16 | $-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CALXRARE
| Q1 26 | $280.0M | — | ||
| Q4 25 | $272.4M | $207.3M | ||
| Q3 25 | $265.4M | $159.9M | ||
| Q2 25 | $241.9M | $166.5M | ||
| Q1 25 | $220.2M | $139.3M | ||
| Q4 24 | $206.1M | $164.6M | ||
| Q3 24 | $200.9M | $139.5M | ||
| Q2 24 | $198.1M | $147.0M |
净利润CALXRARE
| Q1 26 | $11.2M | — | ||
| Q4 25 | $7.2M | $-128.6M | ||
| Q3 25 | $15.7M | $-180.4M | ||
| Q2 25 | $-199.0K | $-115.0M | ||
| Q1 25 | $-4.8M | $-151.1M | ||
| Q4 24 | $-17.9M | $-133.2M | ||
| Q3 24 | $-4.0M | $-133.5M | ||
| Q2 24 | $-8.0M | $-131.6M |
毛利率CALXRARE
| Q1 26 | 56.9% | — | ||
| Q4 25 | 57.7% | — | ||
| Q3 25 | 57.3% | — | ||
| Q2 25 | 56.3% | — | ||
| Q1 25 | 55.7% | — | ||
| Q4 24 | 55.0% | — | ||
| Q3 24 | 54.8% | — | ||
| Q2 24 | 54.3% | — |
营业利润率CALXRARE
| Q1 26 | 47.6% | — | ||
| Q4 25 | 3.4% | -54.7% | ||
| Q3 25 | 6.6% | -106.9% | ||
| Q2 25 | 0.2% | -64.8% | ||
| Q1 25 | -2.8% | -102.6% | ||
| Q4 24 | -9.1% | -74.3% | ||
| Q3 24 | -5.4% | -94.6% | ||
| Q2 24 | -5.7% | -79.1% |
净利率CALXRARE
| Q1 26 | 4.0% | — | ||
| Q4 25 | 2.6% | -62.0% | ||
| Q3 25 | 5.9% | -112.8% | ||
| Q2 25 | -0.1% | -69.0% | ||
| Q1 25 | -2.2% | -108.5% | ||
| Q4 24 | -8.7% | -80.9% | ||
| Q3 24 | -2.0% | -95.7% | ||
| Q2 24 | -4.0% | -89.5% |
每股收益（稀释后）CALXRARE
| Q1 26 | $0.16 | — | ||
| Q4 25 | $0.11 | $-1.28 | ||
| Q3 25 | $0.22 | $-1.81 | ||
| Q2 25 | $0.00 | $-1.17 | ||
| Q1 25 | $-0.07 | $-1.57 | ||
| Q4 24 | $-0.27 | $-1.34 | ||
| Q3 24 | $-0.06 | $-1.40 | ||
| Q2 24 | $-0.12 | $-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 | $54.6M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $738.0M | $-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CALXRARE
| Q1 26 | $54.6M | — | ||
| Q4 25 | $143.1M | $421.0M | ||
| Q3 25 | $95.0M | $202.5M | ||
| Q2 25 | $76.5M | $176.3M | ||
| Q1 25 | $42.3M | $127.1M | ||
| Q4 24 | $43.2M | $174.0M | ||
| Q3 24 | $62.4M | $150.6M | ||
| Q2 24 | $84.5M | $480.7M |
股东权益CALXRARE
| Q1 26 | $738.0M | — | ||
| Q4 25 | $859.2M | $-80.0M | ||
| Q3 25 | $822.5M | $9.2M | ||
| Q2 25 | $772.7M | $151.3M | ||
| Q1 25 | $767.2M | $144.2M | ||
| Q4 24 | $780.9M | $255.0M | ||
| Q3 24 | $778.7M | $346.8M | ||
| Q2 24 | $754.2M | $432.4M |
总资产CALXRARE
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $976.4M | $1.2B | ||
| Q2 25 | $921.4M | $1.3B | ||
| Q1 25 | $917.1M | $1.3B | ||
| Q4 24 | $939.3M | $1.5B | ||
| Q3 24 | $937.5M | $1.5B | ||
| Q2 24 | $917.9M | $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 | $14.6M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $6.5M | $-100.8M |
| 自由现金流率自由现金流/营收 | 2.3% | -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 | 1.31× | — |
| 过去12个月自由现金流最近4个季度 | $109.1M | $-472.0M |
8季度趋势，按日历期对齐
经营现金流CALXRARE
| Q1 26 | $14.6M | — | ||
| Q4 25 | $46.0M | $-99.8M | ||
| Q3 25 | $32.3M | $-91.4M | ||
| Q2 25 | $39.4M | $-108.3M | ||
| Q1 25 | $17.2M | $-166.5M | ||
| Q4 24 | $15.4M | $-79.3M | ||
| Q3 24 | $16.0M | $-67.0M | ||
| Q2 24 | $22.3M | $-77.0M |
自由现金流CALXRARE
| Q1 26 | $6.5M | — | ||
| Q4 25 | $40.3M | $-100.8M | ||
| Q3 25 | $26.7M | $-92.7M | ||
| Q2 25 | $35.6M | $-110.7M | ||
| Q1 25 | $12.9M | $-167.8M | ||
| Q4 24 | $10.2M | $-79.5M | ||
| Q3 24 | $12.8M | $-68.6M | ||
| Q2 24 | $16.4M | $-79.0M |
自由现金流率CALXRARE
| Q1 26 | 2.3% | — | ||
| Q4 25 | 14.8% | -48.6% | ||
| Q3 25 | 10.1% | -58.0% | ||
| Q2 25 | 14.7% | -66.5% | ||
| Q1 25 | 5.9% | -120.5% | ||
| Q4 24 | 5.0% | -48.3% | ||
| Q3 24 | 6.3% | -49.2% | ||
| Q2 24 | 8.3% | -53.7% |
资本支出强度CALXRARE
| Q1 26 | — | — | ||
| Q4 25 | 2.1% | 0.5% | ||
| Q3 25 | 2.1% | 0.8% | ||
| Q2 25 | 1.5% | 1.5% | ||
| Q1 25 | 2.0% | 1.0% | ||
| Q4 24 | 2.5% | 0.1% | ||
| Q3 24 | 1.6% | 1.2% | ||
| Q2 24 | 3.0% | 1.4% |
现金转化率CALXRARE
| Q1 26 | 1.31× | — | ||
| Q4 25 | 6.38× | — | ||
| Q3 25 | 2.06× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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
CALX
| Appliance | $232.8M | 83% |
| Software and service | $47.1M | 17% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
