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精工集团（CRDO）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
精工集团的季度营收约是Ultragenyx Pharmaceutical Inc.的1.3倍（$268.0M vs $207.3M），精工集团净利率更高（30.8% vs -62.0%，领先92.9%），精工集团同比增速更快（272.1% vs 25.9%），精工集团自由现金流更多（$38.5M vs $-100.8M），过去两年精工集团的营收复合增速更高（124.8% vs 38.0%）
精工集团是由精工集团株式会社及其子公司、关联企业组成的企业集团。该集团原由精工控股株式会社、精工仪器株式会社和精工爱普生株式会社三家核心企业构成，三家企业均以钟表技术为核心联结。目前爱普生仍为精工集团开发生产腕表，但爱普生及其子公司已不属于精工集团旗下成员。
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。
CRDO vs RARE — 直观对比
营收规模更大
CRDO
是对方的1.3倍
$207.3M
营收增速更快
CRDO
高出246.2%
25.9%
净利率更高
CRDO
高出92.9%
-62.0%
自由现金流更多
CRDO
多$139.2M
$-100.8M
两年增速更快
CRDO
近两年复合增速
38.0%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $268.0M | $207.3M |
| 净利润 | $82.6M | $-128.6M |
| 毛利率 | 67.5% | — |
| 营业利润率 | 29.4% | -54.7% |
| 净利率 | 30.8% | -62.0% |
| 营收同比 | 272.1% | 25.9% |
| 净利润同比 | 2055.9% | 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
营收CRDORARE
| Q4 25 | $268.0M | $207.3M | ||
| Q3 25 | $223.1M | $159.9M | ||
| Q2 25 | $170.0M | $166.5M | ||
| Q1 25 | $135.0M | $139.3M | ||
| Q4 24 | $72.0M | $164.6M | ||
| Q3 24 | $59.7M | $139.5M | ||
| Q2 24 | $60.8M | $147.0M | ||
| Q1 24 | $53.1M | $108.8M |
净利润CRDORARE
| Q4 25 | $82.6M | $-128.6M | ||
| Q3 25 | $63.4M | $-180.4M | ||
| Q2 25 | $36.6M | $-115.0M | ||
| Q1 25 | $29.4M | $-151.1M | ||
| Q4 24 | $-4.2M | $-133.2M | ||
| Q3 24 | $-9.5M | $-133.5M | ||
| Q2 24 | $-10.5M | $-131.6M | ||
| Q1 24 | $428.0K | $-170.7M |
毛利率CRDORARE
| Q4 25 | 67.5% | — | ||
| Q3 25 | 67.4% | — | ||
| Q2 25 | 67.2% | — | ||
| Q1 25 | 63.6% | — | ||
| Q4 24 | 63.2% | — | ||
| Q3 24 | 62.4% | — | ||
| Q2 24 | 65.8% | — | ||
| Q1 24 | 61.4% | — |
营业利润率CRDORARE
| Q4 25 | 29.4% | -54.7% | ||
| Q3 25 | 27.2% | -106.9% | ||
| Q2 25 | 19.9% | -64.8% | ||
| Q1 25 | 19.4% | -102.6% | ||
| Q4 24 | -11.7% | -74.3% | ||
| Q3 24 | -24.2% | -94.6% | ||
| Q2 24 | -13.0% | -79.1% | ||
| Q1 24 | -11.1% | -151.9% |
净利率CRDORARE
| Q4 25 | 30.8% | -62.0% | ||
| Q3 25 | 28.4% | -112.8% | ||
| Q2 25 | 21.5% | -69.0% | ||
| Q1 25 | 21.7% | -108.5% | ||
| Q4 24 | -5.9% | -80.9% | ||
| Q3 24 | -16.0% | -95.7% | ||
| Q2 24 | -17.2% | -89.5% | ||
| Q1 24 | 0.8% | -156.8% |
每股收益（稀释后）CRDORARE
| Q4 25 | $0.44 | $-1.28 | ||
| Q3 25 | $0.34 | $-1.81 | ||
| Q2 25 | $0.22 | $-1.17 | ||
| Q1 25 | $0.16 | $-1.57 | ||
| Q4 24 | $-0.03 | $-1.34 | ||
| Q3 24 | $-0.06 | $-1.40 | ||
| Q2 24 | $-0.06 | $-1.52 | ||
| Q1 24 | $0.00 | $-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 | $813.6M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.3B | $-80.0M |
| 总资产 | $1.4B | $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CRDORARE
| Q4 25 | $813.6M | $421.0M | ||
| Q3 25 | $479.6M | $202.5M | ||
| Q2 25 | $431.3M | $176.3M | ||
| Q1 25 | $379.2M | $127.1M | ||
| Q4 24 | $383.0M | $174.0M | ||
| Q3 24 | $398.6M | $150.6M | ||
| Q2 24 | $410.0M | $480.7M | ||
| Q1 24 | $409.1M | $112.3M |
股东权益CRDORARE
| Q4 25 | $1.3B | $-80.0M | ||
| Q3 25 | $781.4M | $9.2M | ||
| Q2 25 | $681.6M | $151.3M | ||
| Q1 25 | $618.2M | $144.2M | ||
| Q4 24 | $567.9M | $255.0M | ||
| Q3 24 | $553.1M | $346.8M | ||
| Q2 24 | $540.2M | $432.4M | ||
| Q1 24 | $534.0M | $140.3M |
总资产CRDORARE
| Q4 25 | $1.4B | $1.5B | ||
| Q3 25 | $905.2M | $1.2B | ||
| Q2 25 | $809.3M | $1.3B | ||
| Q1 25 | $719.9M | $1.3B | ||
| Q4 24 | $638.6M | $1.5B | ||
| Q3 24 | $644.9M | $1.5B | ||
| Q2 24 | $601.9M | $1.6B | ||
| Q1 24 | $592.5M | $1.3B |
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 | $61.7M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $38.5M | $-100.8M |
| 自由现金流率自由现金流/营收 | 14.4% | -48.6% |
| 资本支出强度资本支出/营收 | 8.7% | 0.5% |
| 现金转化率经营现金流/净利润 | 0.75× | — |
| 过去12个月自由现金流最近4个季度 | $143.6M | $-472.0M |
8季度趋势，按日历期对齐
经营现金流CRDORARE
| Q4 25 | $61.7M | $-99.8M | ||
| Q3 25 | $54.2M | $-91.4M | ||
| Q2 25 | $57.8M | $-108.3M | ||
| Q1 25 | $4.2M | $-166.5M | ||
| Q4 24 | $10.3M | $-79.3M | ||
| Q3 24 | $-7.2M | $-67.0M | ||
| Q2 24 | $4.2M | $-77.0M | ||
| Q1 24 | $-1.0M | $-190.7M |
自由现金流CRDORARE
| Q4 25 | $38.5M | $-100.8M | ||
| Q3 25 | $51.3M | $-92.7M | ||
| Q2 25 | $54.2M | $-110.7M | ||
| Q1 25 | $-383.0K | $-167.8M | ||
| Q4 24 | $-11.7M | $-79.5M | ||
| Q3 24 | $-13.1M | $-68.6M | ||
| Q2 24 | $962.0K | $-79.0M | ||
| Q1 24 | $-6.1M | $-193.9M |
自由现金流率CRDORARE
| Q4 25 | 14.4% | -48.6% | ||
| Q3 25 | 23.0% | -58.0% | ||
| Q2 25 | 31.9% | -66.5% | ||
| Q1 25 | -0.3% | -120.5% | ||
| Q4 24 | -16.2% | -48.3% | ||
| Q3 24 | -21.9% | -49.2% | ||
| Q2 24 | 1.6% | -53.7% | ||
| Q1 24 | -11.6% | -178.2% |
资本支出强度CRDORARE
| Q4 25 | 8.7% | 0.5% | ||
| Q3 25 | 1.3% | 0.8% | ||
| Q2 25 | 2.1% | 1.5% | ||
| Q1 25 | 3.4% | 1.0% | ||
| Q4 24 | 30.5% | 0.1% | ||
| Q3 24 | 9.8% | 1.2% | ||
| Q2 24 | 5.3% | 1.4% | ||
| Q1 24 | 9.6% | 3.0% |
现金转化率CRDORARE
| Q4 25 | 0.75× | — | ||
| Q3 25 | 0.85× | — | ||
| Q2 25 | 1.58× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -2.42× | — |
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
CRDO
| Other | $132.1M | 49% |
| HK | $104.4M | 39% |
| RESTOFTHEWORLD | $31.5M | 12% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
