vs
Cerence Inc.（CRNC）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Cerence Inc.的1.8倍（$207.3M vs $115.1M），Cerence Inc.净利率更高（-4.6% vs -62.0%，领先57.5%），Cerence Inc.同比增速更快（126.1% vs 25.9%），Cerence Inc.自由现金流更多（$35.6M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 30.3%）
Cerence Inc.是一家美国跨国软件企业，核心业务为研发面向汽车领域的人工智能语音助手技术，凭借在车载智能交互领域的技术积累，为全球多家车企提供智能化车载体验解决方案。
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。
CRNC vs RARE — 直观对比
营收规模更大
RARE
是对方的1.8倍
$115.1M
营收增速更快
CRNC
高出100.2%
25.9%
净利率更高
CRNC
高出57.5%
-62.0%
自由现金流更多
CRNC
多$136.4M
$-100.8M
两年增速更快
RARE
近两年复合增速
30.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $115.1M | $207.3M |
| 净利润 | $-5.2M | $-128.6M |
| 毛利率 | 86.3% | — |
| 营业利润率 | 25.5% | -54.7% |
| 净利率 | -4.6% | -62.0% |
| 营收同比 | 126.1% | 25.9% |
| 净利润同比 | 78.4% | 3.5% |
| 每股收益（稀释后） | $-0.12 | $-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CRNCRARE
| Q4 25 | $115.1M | $207.3M | ||
| Q3 25 | $60.6M | $159.9M | ||
| Q2 25 | $62.2M | $166.5M | ||
| Q1 25 | $78.0M | $139.3M | ||
| Q4 24 | $50.9M | $164.6M | ||
| Q3 24 | $54.8M | $139.5M | ||
| Q2 24 | $70.5M | $147.0M | ||
| Q1 24 | $67.8M | $108.8M |
净利润CRNCRARE
| Q4 25 | $-5.2M | $-128.6M | ||
| Q3 25 | $-13.4M | $-180.4M | ||
| Q2 25 | $-2.7M | $-115.0M | ||
| Q1 25 | $21.7M | $-151.1M | ||
| Q4 24 | $-24.3M | $-133.2M | ||
| Q3 24 | $-20.4M | $-133.5M | ||
| Q2 24 | $-313.5M | $-131.6M | ||
| Q1 24 | $-278.0M | $-170.7M |
毛利率CRNCRARE
| Q4 25 | 86.3% | — | ||
| Q3 25 | 72.6% | — | ||
| Q2 25 | 73.7% | — | ||
| Q1 25 | 77.1% | — | ||
| Q4 24 | 65.0% | — | ||
| Q3 24 | 63.7% | — | ||
| Q2 24 | 71.5% | — | ||
| Q1 24 | 69.2% | — |
营业利润率CRNCRARE
| Q4 25 | 25.5% | -54.7% | ||
| Q3 25 | -2.9% | -106.9% | ||
| Q2 25 | -1.5% | -64.8% | ||
| Q1 25 | 22.2% | -102.6% | ||
| Q4 24 | -33.3% | -74.3% | ||
| Q3 24 | -35.1% | -94.6% | ||
| Q2 24 | -503.1% | -79.1% | ||
| Q1 24 | -389.8% | -151.9% |
净利率CRNCRARE
| Q4 25 | -4.6% | -62.0% | ||
| Q3 25 | -22.0% | -112.8% | ||
| Q2 25 | -4.4% | -69.0% | ||
| Q1 25 | 27.8% | -108.5% | ||
| Q4 24 | -47.7% | -80.9% | ||
| Q3 24 | -37.3% | -95.7% | ||
| Q2 24 | -444.5% | -89.5% | ||
| Q1 24 | -409.8% | -156.8% |
每股收益（稀释后）CRNCRARE
| Q4 25 | $-0.12 | $-1.28 | ||
| Q3 25 | $-0.26 | $-1.81 | ||
| Q2 25 | $-0.06 | $-1.17 | ||
| Q1 25 | $0.46 | $-1.57 | ||
| Q4 24 | $-0.57 | $-1.34 | ||
| Q3 24 | $-0.49 | $-1.40 | ||
| Q2 24 | $-7.50 | $-1.52 | ||
| Q1 24 | $-6.66 | $-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 | $2.5M | $421.0M |
| 总债务越低越好 | $171.9M | — |
| 股东权益账面价值 | $150.4M | $-80.0M |
| 总资产 | $602.0M | $1.5B |
| 负债/权益比越低杠杆越低 | 1.14× | — |
8季度趋势，按日历期对齐
现金及短期投资CRNCRARE
| Q4 25 | $2.5M | $421.0M | ||
| Q3 25 | $3.4M | $202.5M | ||
| Q2 25 | $5.5M | $176.3M | ||
| Q1 25 | $5.4M | $127.1M | ||
| Q4 24 | $3.9M | $174.0M | ||
| Q3 24 | $5.5M | $150.6M | ||
| Q2 24 | $5.4M | $480.7M | ||
| Q1 24 | $9.4M | $112.3M |
总债务CRNCRARE
| Q4 25 | $171.9M | — | ||
| Q3 25 | $199.7M | — | ||
| Q2 25 | $198.8M | — | ||
| Q1 25 | $257.6M | — | ||
| Q4 24 | $256.2M | — | ||
| Q3 24 | $281.9M | — | ||
| Q2 24 | $280.4M | — | ||
| Q1 24 | $278.9M | — |
股东权益CRNCRARE
| Q4 25 | $150.4M | $-80.0M | ||
| Q3 25 | $150.7M | $9.2M | ||
| Q2 25 | $155.7M | $151.3M | ||
| Q1 25 | $149.3M | $144.2M | ||
| Q4 24 | $120.7M | $255.0M | ||
| Q3 24 | $141.1M | $346.8M | ||
| Q2 24 | $154.2M | $432.4M | ||
| Q1 24 | $463.4M | $140.3M |
总资产CRNCRARE
| Q4 25 | $602.0M | $1.5B | ||
| Q3 25 | $630.6M | $1.2B | ||
| Q2 25 | $636.8M | $1.3B | ||
| Q1 25 | $665.5M | $1.3B | ||
| Q4 24 | $617.5M | $1.5B | ||
| Q3 24 | $702.4M | $1.5B | ||
| Q2 24 | $674.0M | $1.6B | ||
| Q1 24 | $987.1M | $1.3B |
负债/权益比CRNCRARE
| Q4 25 | 1.14× | — | ||
| Q3 25 | 1.33× | — | ||
| Q2 25 | 1.28× | — | ||
| Q1 25 | 1.73× | — | ||
| Q4 24 | 2.12× | — | ||
| Q3 24 | 2.00× | — | ||
| Q2 24 | 1.82× | — | ||
| Q1 24 | 0.60× | — |
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 | $37.9M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $35.6M | $-100.8M |
| 自由现金流率自由现金流/营收 | 31.0% | -48.6% |
| 资本支出强度资本支出/营收 | 2.0% | 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 | $74.6M | $-472.0M |
8季度趋势，按日历期对齐
经营现金流CRNCRARE
| Q4 25 | $37.9M | $-99.8M | ||
| Q3 25 | $12.8M | $-91.4M | ||
| Q2 25 | $23.7M | $-108.3M | ||
| Q1 25 | $15.5M | $-166.5M | ||
| Q4 24 | $9.3M | $-79.3M | ||
| Q3 24 | $6.1M | $-67.0M | ||
| Q2 24 | $12.9M | $-77.0M | ||
| Q1 24 | $1.0M | $-190.7M |
自由现金流CRNCRARE
| Q4 25 | $35.6M | $-100.8M | ||
| Q3 25 | $9.7M | $-92.7M | ||
| Q2 25 | $16.1M | $-110.7M | ||
| Q1 25 | $13.1M | $-167.8M | ||
| Q4 24 | $7.9M | $-79.5M | ||
| Q3 24 | $4.7M | $-68.6M | ||
| Q2 24 | $12.1M | $-79.0M | ||
| Q1 24 | $-801.0K | $-193.9M |
自由现金流率CRNCRARE
| Q4 25 | 31.0% | -48.6% | ||
| Q3 25 | 16.1% | -58.0% | ||
| Q2 25 | 25.8% | -66.5% | ||
| Q1 25 | 16.8% | -120.5% | ||
| Q4 24 | 15.5% | -48.3% | ||
| Q3 24 | 8.5% | -49.2% | ||
| Q2 24 | 17.1% | -53.7% | ||
| Q1 24 | -1.2% | -178.2% |
资本支出强度CRNCRARE
| Q4 25 | 2.0% | 0.5% | ||
| Q3 25 | 5.0% | 0.8% | ||
| Q2 25 | 12.3% | 1.5% | ||
| Q1 25 | 3.0% | 1.0% | ||
| Q4 24 | 2.7% | 0.1% | ||
| Q3 24 | 2.6% | 1.2% | ||
| Q2 24 | 1.1% | 1.4% | ||
| Q1 24 | 2.7% | 3.0% |
现金转化率CRNCRARE
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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
CRNC
| License | $87.8M | 76% |
| Connected Services | $14.5M | 13% |
| Professional Services | $12.8M | 11% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
