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CHOICE HOTELS INTERNATIONAL INC（CHH）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
CHOICE HOTELS INTERNATIONAL INC的季度营收约是Ultragenyx Pharmaceutical Inc.的1.6倍（$340.6M vs $207.3M），CHOICE HOTELS INTERNATIONAL INC净利率更高（5.9% vs -62.0%，领先67.9%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 2.3%），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -11.5%）
凯悦酒店国际集团（Choice Hotels International）是总部位于美国马里兰州北贝塞斯达的跨国酒店集团，为全球规模最大的酒店连锁企业之一，旗下拥有从高端到经济型的多元酒店品牌。截至2024年末，集团在全球46个国家和地区特许经营近7600家酒店，客房总数超65万间。
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。
CHH vs RARE — 直观对比
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $340.6M | $207.3M |
| 净利润 | $20.0M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | 17.6% | -54.7% |
| 净利率 | 5.9% | -62.0% |
| 营收同比 | 2.3% | 25.9% |
| 净利润同比 | -54.4% | 3.5% |
| 每股收益（稀释后） | $0.44 | $-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
| Q1 26 | $340.6M | — | ||
| Q4 25 | $390.1M | $207.3M | ||
| Q3 25 | $447.3M | $159.9M | ||
| Q2 25 | $426.4M | $166.5M | ||
| Q1 25 | $332.9M | $139.3M | ||
| Q4 24 | $389.8M | $164.6M | ||
| Q3 24 | $428.0M | $139.5M | ||
| Q2 24 | $435.2M | $147.0M |
| Q1 26 | $20.0M | — | ||
| Q4 25 | $63.7M | $-128.6M | ||
| Q3 25 | $180.0M | $-180.4M | ||
| Q2 25 | $81.7M | $-115.0M | ||
| Q1 25 | $44.5M | $-151.1M | ||
| Q4 24 | $75.8M | $-133.2M | ||
| Q3 24 | $105.7M | $-133.5M | ||
| Q2 24 | $87.1M | $-131.6M |
| Q1 26 | 17.6% | — | ||
| Q4 25 | 26.0% | -54.7% | ||
| Q3 25 | 31.8% | -106.9% | ||
| Q2 25 | 29.2% | -64.8% | ||
| Q1 25 | 24.0% | -102.6% | ||
| Q4 24 | 30.6% | -74.3% | ||
| Q3 24 | 35.5% | -94.6% | ||
| Q2 24 | 30.5% | -79.1% |
| Q1 26 | 5.9% | — | ||
| Q4 25 | 16.3% | -62.0% | ||
| Q3 25 | 40.2% | -112.8% | ||
| Q2 25 | 19.2% | -69.0% | ||
| Q1 25 | 13.4% | -108.5% | ||
| Q4 24 | 19.4% | -80.9% | ||
| Q3 24 | 24.7% | -95.7% | ||
| Q2 24 | 20.0% | -89.5% |
| Q1 26 | $0.44 | — | ||
| Q4 25 | $1.35 | $-1.28 | ||
| Q3 25 | $3.86 | $-1.81 | ||
| Q2 25 | $1.75 | $-1.17 | ||
| Q1 25 | $0.94 | $-1.57 | ||
| Q4 24 | $1.56 | $-1.34 | ||
| Q3 24 | $2.22 | $-1.40 | ||
| Q2 24 | $1.80 | $-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 | $43.9M | $421.0M |
| 总债务越低越好 | $2.0B | — |
| 股东权益账面价值 | $137.4M | $-80.0M |
| 总资产 | $2.9B | $1.5B |
| 负债/权益比越低杠杆越低 | 14.58× | — |
8季度趋势，按日历期对齐
| Q1 26 | $43.9M | — | ||
| Q4 25 | $45.0M | $421.0M | ||
| Q3 25 | $52.6M | $202.5M | ||
| Q2 25 | $58.6M | $176.3M | ||
| Q1 25 | $40.1M | $127.1M | ||
| Q4 24 | $40.2M | $174.0M | ||
| Q3 24 | $58.6M | $150.6M | ||
| Q2 24 | $60.4M | $480.7M |
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.9B | — |
| Q1 26 | $137.4M | — | ||
| Q4 25 | $181.2M | $-80.0M | ||
| Q3 25 | $149.8M | $9.2M | ||
| Q2 25 | $-26.2M | $151.3M | ||
| Q1 25 | $-63.9M | $144.2M | ||
| Q4 24 | $-45.3M | $255.0M | ||
| Q3 24 | $-96.2M | $346.8M | ||
| Q2 24 | $-146.8M | $432.4M |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $1.5B | ||
| Q3 25 | $2.9B | $1.2B | ||
| Q2 25 | $2.7B | $1.3B | ||
| Q1 25 | $2.6B | $1.3B | ||
| Q4 24 | $2.5B | $1.5B | ||
| Q3 24 | $2.5B | $1.5B | ||
| Q2 24 | $2.5B | $1.6B |
| Q1 26 | 14.58× | — | ||
| Q4 25 | 10.52× | — | ||
| Q3 25 | 12.81× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $-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
| Q1 26 | — | — | ||
| Q4 25 | $85.7M | $-99.8M | ||
| Q3 25 | $68.7M | $-91.4M | ||
| Q2 25 | $95.6M | $-108.3M | ||
| Q1 25 | $20.5M | $-166.5M | ||
| Q4 24 | $82.9M | $-79.3M | ||
| Q3 24 | $122.9M | $-67.0M | ||
| Q2 24 | $111.9M | $-77.0M |
| Q1 26 | — | — | ||
| Q4 25 | $64.1M | $-100.8M | ||
| Q3 25 | $49.1M | $-92.7M | ||
| Q2 25 | $65.4M | $-110.7M | ||
| Q1 25 | $-15.0M | $-167.8M | ||
| Q4 24 | $57.4M | $-79.5M | ||
| Q3 24 | $92.6M | $-68.6M | ||
| Q2 24 | $86.6M | $-79.0M |
| Q1 26 | — | — | ||
| Q4 25 | 16.4% | -48.6% | ||
| Q3 25 | 11.0% | -58.0% | ||
| Q2 25 | 15.3% | -66.5% | ||
| Q1 25 | -4.5% | -120.5% | ||
| Q4 24 | 14.7% | -48.3% | ||
| Q3 24 | 21.6% | -49.2% | ||
| Q2 24 | 19.9% | -53.7% |
| Q1 26 | — | — | ||
| Q4 25 | 5.5% | 0.5% | ||
| Q3 25 | 4.4% | 0.8% | ||
| Q2 25 | 7.1% | 1.5% | ||
| Q1 25 | 10.7% | 1.0% | ||
| Q4 24 | 6.5% | 0.1% | ||
| Q3 24 | 7.1% | 1.2% | ||
| Q2 24 | 5.8% | 1.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.35× | — | ||
| Q3 25 | 0.38× | — | ||
| Q2 25 | 1.17× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 1.09× | — | ||
| Q3 24 | 1.16× | — | ||
| Q2 24 | 1.28× | — |
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
CHH
| Franchise and management fees | $149.6M | 44% |
| Other | $135.8M | 40% |
| Owned hotels | $30.4M | 9% |
| Partnership services and fees | $24.7M | 7% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
