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Vita Coco Company, Inc.（COCO）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Vita Coco Company, Inc.的1.2倍（$207.3M vs $179.8M），Vita Coco Company, Inc.净利率更高（17.0% vs -62.0%，领先79.0%），Vita Coco Company, Inc.同比增速更快（37.3% vs 25.9%），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 11.7%）
唯他可可（Vita Coco）是美国知名饮料企业，主打椰子水产品，是全球椰子水及植物基饮品赛道的头部品牌。截至2016年业务已覆盖31个国家，属于共益企业，由All Market Inc.控股。
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。
COCO vs RARE — 直观对比
营收规模更大
RARE
是对方的1.2倍
$179.8M
营收增速更快
COCO
高出11.4%
25.9%
净利率更高
COCO
高出79.0%
-62.0%
两年增速更快
RARE
近两年复合增速
11.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $179.8M | $207.3M |
| 净利润 | $30.5M | $-128.6M |
| 毛利率 | 39.9% | — |
| 营业利润率 | 18.7% | -54.7% |
| 净利率 | 17.0% | -62.0% |
| 营收同比 | 37.3% | 25.9% |
| 净利润同比 | 61.4% | 3.5% |
| 每股收益（稀释后） | $0.50 | $-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COCORARE
| Q1 26 | $179.8M | — | ||
| Q4 25 | $127.8M | $207.3M | ||
| Q3 25 | $182.3M | $159.9M | ||
| Q2 25 | $168.8M | $166.5M | ||
| Q1 25 | $130.9M | $139.3M | ||
| Q4 24 | $127.3M | $164.6M | ||
| Q3 24 | $132.9M | $139.5M | ||
| Q2 24 | $144.1M | $147.0M |
净利润COCORARE
| Q1 26 | $30.5M | — | ||
| Q4 25 | $5.5M | $-128.6M | ||
| Q3 25 | $24.0M | $-180.4M | ||
| Q2 25 | $22.9M | $-115.0M | ||
| Q1 25 | $18.9M | $-151.1M | ||
| Q4 24 | $3.4M | $-133.2M | ||
| Q3 24 | $19.3M | $-133.5M | ||
| Q2 24 | $19.1M | $-131.6M |
毛利率COCORARE
| Q1 26 | 39.9% | — | ||
| Q4 25 | 34.9% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 36.3% | — | ||
| Q1 25 | 36.7% | — | ||
| Q4 24 | 32.5% | — | ||
| Q3 24 | 38.8% | — | ||
| Q2 24 | 40.8% | — |
营业利润率COCORARE
| Q1 26 | 18.7% | — | ||
| Q4 25 | 8.0% | -54.7% | ||
| Q3 25 | 15.3% | -106.9% | ||
| Q2 25 | 14.9% | -64.8% | ||
| Q1 25 | 14.7% | -102.6% | ||
| Q4 24 | 3.4% | -74.3% | ||
| Q3 24 | 15.5% | -94.6% | ||
| Q2 24 | 20.8% | -79.1% |
净利率COCORARE
| Q1 26 | 17.0% | — | ||
| Q4 25 | 4.3% | -62.0% | ||
| Q3 25 | 13.2% | -112.8% | ||
| Q2 25 | 13.6% | -69.0% | ||
| Q1 25 | 14.4% | -108.5% | ||
| Q4 24 | 2.6% | -80.9% | ||
| Q3 24 | 14.5% | -95.7% | ||
| Q2 24 | 13.2% | -89.5% |
每股收益（稀释后）COCORARE
| Q1 26 | $0.50 | — | ||
| Q4 25 | $0.10 | $-1.28 | ||
| Q3 25 | $0.40 | $-1.81 | ||
| Q2 25 | $0.38 | $-1.17 | ||
| Q1 25 | $0.31 | $-1.57 | ||
| Q4 24 | $0.06 | $-1.34 | ||
| Q3 24 | $0.32 | $-1.40 | ||
| Q2 24 | $0.32 | $-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 | $201.9M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $352.2M | $-80.0M |
| 总资产 | $488.3M | $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COCORARE
| Q1 26 | $201.9M | — | ||
| Q4 25 | $196.9M | $421.0M | ||
| Q3 25 | $203.7M | $202.5M | ||
| Q2 25 | $167.0M | $176.3M | ||
| Q1 25 | $153.6M | $127.1M | ||
| Q4 24 | $164.7M | $174.0M | ||
| Q3 24 | $156.7M | $150.6M | ||
| Q2 24 | $150.1M | $480.7M |
股东权益COCORARE
| Q1 26 | $352.2M | — | ||
| Q4 25 | $331.5M | $-80.0M | ||
| Q3 25 | $323.7M | $9.2M | ||
| Q2 25 | $296.9M | $151.3M | ||
| Q1 25 | $277.9M | $144.2M | ||
| Q4 24 | $258.8M | $255.0M | ||
| Q3 24 | $252.1M | $346.8M | ||
| Q2 24 | $232.0M | $432.4M |
总资产COCORARE
| Q1 26 | $488.3M | — | ||
| Q4 25 | $461.2M | $1.5B | ||
| Q3 25 | $461.3M | $1.2B | ||
| Q2 25 | $421.1M | $1.3B | ||
| Q1 25 | $384.0M | $1.3B | ||
| Q4 24 | $362.4M | $1.5B | ||
| Q3 24 | $353.1M | $1.5B | ||
| Q2 24 | $323.0M | $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COCORARE
| Q1 26 | — | — | ||
| Q4 25 | $-3.9M | $-99.8M | ||
| Q3 25 | $39.1M | $-91.4M | ||
| Q2 25 | $21.8M | $-108.3M | ||
| Q1 25 | $-9.8M | $-166.5M | ||
| Q4 24 | $6.9M | $-79.3M | ||
| Q3 24 | $9.3M | $-67.0M | ||
| Q2 24 | $26.9M | $-77.0M |
自由现金流COCORARE
| Q1 26 | — | — | ||
| Q4 25 | $-7.1M | $-100.8M | ||
| Q3 25 | $35.6M | $-92.7M | ||
| Q2 25 | $20.9M | $-110.7M | ||
| Q1 25 | $-10.4M | $-167.8M | ||
| Q4 24 | $6.8M | $-79.5M | ||
| Q3 24 | $8.9M | $-68.6M | ||
| Q2 24 | $26.6M | $-79.0M |
自由现金流率COCORARE
| Q1 26 | — | — | ||
| Q4 25 | -5.6% | -48.6% | ||
| Q3 25 | 19.6% | -58.0% | ||
| Q2 25 | 12.4% | -66.5% | ||
| Q1 25 | -7.9% | -120.5% | ||
| Q4 24 | 5.3% | -48.3% | ||
| Q3 24 | 6.7% | -49.2% | ||
| Q2 24 | 18.5% | -53.7% |
资本支出强度COCORARE
| Q1 26 | — | — | ||
| Q4 25 | 2.5% | 0.5% | ||
| Q3 25 | 1.9% | 0.8% | ||
| Q2 25 | 0.6% | 1.5% | ||
| Q1 25 | 0.4% | 1.0% | ||
| Q4 24 | 0.1% | 0.1% | ||
| Q3 24 | 0.3% | 1.2% | ||
| Q2 24 | 0.2% | 1.4% |
现金转化率COCORARE
| Q1 26 | — | — | ||
| Q4 25 | -0.70× | — | ||
| Q3 25 | 1.63× | — | ||
| Q2 25 | 0.95× | — | ||
| Q1 25 | -0.52× | — | ||
| Q4 24 | 2.05× | — | ||
| Q3 24 | 0.48× | — | ||
| Q2 24 | 1.41× | — |
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
COCO
| Subtotal | $148.2M | 82% |
| Private Label | $24.4M | 14% |
| Other | $7.2M | 4% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
