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合众银行（CUBI）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
合众银行的季度营收约是Ultragenyx Pharmaceutical Inc.的1.1倍（$236.9M vs $207.3M），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 21.8%），合众银行自由现金流更多（$481.0M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 14.2%）
合众银行是总部位于美国明尼苏达州明尼阿波利斯、在特拉华州注册的跨国银行机构，2025年位列美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为具有系统重要性。旗下核心运营主体为美国合众银行全国协会，提供银行、投资、按揭等多元金融服务。
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。
CUBI vs RARE — 直观对比
营收规模更大
CUBI
是对方的1.1倍
$207.3M
营收增速更快
RARE
高出4.1%
21.8%
自由现金流更多
CUBI
多$581.8M
$-100.8M
两年增速更快
RARE
近两年复合增速
14.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $236.9M | $207.3M |
| 净利润 | — | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | 41.1% | -54.7% |
| 净利率 | — | -62.0% |
| 营收同比 | 21.8% | 25.9% |
| 净利润同比 | — | 3.5% |
| 每股收益（稀释后） | $2.04 | $-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CUBIRARE
| Q4 25 | $236.9M | $207.3M | ||
| Q3 25 | $232.1M | $159.9M | ||
| Q2 25 | $206.3M | $166.5M | ||
| Q1 25 | $143.0M | $139.3M | ||
| Q4 24 | $167.8M | $164.6M | ||
| Q3 24 | $167.1M | $139.5M | ||
| Q2 24 | $198.7M | $147.0M | ||
| Q1 24 | $181.6M | $108.8M |
净利润CUBIRARE
| Q4 25 | — | $-128.6M | ||
| Q3 25 | $75.7M | $-180.4M | ||
| Q2 25 | $60.9M | $-115.0M | ||
| Q1 25 | $12.9M | $-151.1M | ||
| Q4 24 | — | $-133.2M | ||
| Q3 24 | $46.7M | $-133.5M | ||
| Q2 24 | $58.1M | $-131.6M | ||
| Q1 24 | $49.7M | $-170.7M |
营业利润率CUBIRARE
| Q4 25 | 41.1% | -54.7% | ||
| Q3 25 | 43.2% | -106.9% | ||
| Q2 25 | 38.2% | -64.8% | ||
| Q1 25 | 8.3% | -102.6% | ||
| Q4 24 | 21.4% | -74.3% | ||
| Q3 24 | 27.5% | -94.6% | ||
| Q2 24 | 38.8% | -79.1% | ||
| Q1 24 | 36.0% | -151.9% |
净利率CUBIRARE
| Q4 25 | — | -62.0% | ||
| Q3 25 | 32.6% | -112.8% | ||
| Q2 25 | 29.5% | -69.0% | ||
| Q1 25 | 9.0% | -108.5% | ||
| Q4 24 | — | -80.9% | ||
| Q3 24 | 28.0% | -95.7% | ||
| Q2 24 | 29.2% | -89.5% | ||
| Q1 24 | 27.4% | -156.8% |
每股收益（稀释后）CUBIRARE
| Q4 25 | $2.04 | $-1.28 | ||
| Q3 25 | $2.20 | $-1.81 | ||
| Q2 25 | $1.73 | $-1.17 | ||
| Q1 25 | $0.29 | $-1.57 | ||
| Q4 24 | $0.72 | $-1.34 | ||
| Q3 24 | $1.31 | $-1.40 | ||
| Q2 24 | $1.66 | $-1.52 | ||
| Q1 24 | $1.40 | $-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 | $4.4B | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.1B | $-80.0M |
| 总资产 | $24.9B | $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CUBIRARE
| Q4 25 | $4.4B | $421.0M | ||
| Q3 25 | $4.2B | $202.5M | ||
| Q2 25 | $3.5B | $176.3M | ||
| Q1 25 | $3.4B | $127.1M | ||
| Q4 24 | $3.8B | $174.0M | ||
| Q3 24 | $3.1B | $150.6M | ||
| Q2 24 | $3.0B | $480.7M | ||
| Q1 24 | $3.7B | $112.3M |
股东权益CUBIRARE
| Q4 25 | $2.1B | $-80.0M | ||
| Q3 25 | $2.1B | $9.2M | ||
| Q2 25 | $1.9B | $151.3M | ||
| Q1 25 | $1.9B | $144.2M | ||
| Q4 24 | $1.8B | $255.0M | ||
| Q3 24 | $1.8B | $346.8M | ||
| Q2 24 | $1.7B | $432.4M | ||
| Q1 24 | $1.7B | $140.3M |
总资产CUBIRARE
| Q4 25 | $24.9B | $1.5B | ||
| Q3 25 | $24.3B | $1.2B | ||
| Q2 25 | $22.6B | $1.3B | ||
| Q1 25 | $22.4B | $1.3B | ||
| Q4 24 | $22.3B | $1.5B | ||
| Q3 24 | $21.5B | $1.5B | ||
| Q2 24 | $20.9B | $1.6B | ||
| Q1 24 | $21.3B | $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 | $494.8M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $481.0M | $-100.8M |
| 自由现金流率自由现金流/营收 | 203.0% | -48.6% |
| 资本支出强度资本支出/营收 | 5.8% | 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 | $843.0M | $-472.0M |
8季度趋势，按日历期对齐
经营现金流CUBIRARE
| Q4 25 | $494.8M | $-99.8M | ||
| Q3 25 | $116.9M | $-91.4M | ||
| Q2 25 | $162.2M | $-108.3M | ||
| Q1 25 | $94.1M | $-166.5M | ||
| Q4 24 | $145.1M | $-79.3M | ||
| Q3 24 | $24.4M | $-67.0M | ||
| Q2 24 | $6.1M | $-77.0M | ||
| Q1 24 | $-18.8M | $-190.7M |
自由现金流CUBIRARE
| Q4 25 | $481.0M | $-100.8M | ||
| Q3 25 | $106.4M | $-92.7M | ||
| Q2 25 | $162.1M | $-110.7M | ||
| Q1 25 | $93.4M | $-167.8M | ||
| Q4 24 | $143.6M | $-79.5M | ||
| Q3 24 | $24.1M | $-68.6M | ||
| Q2 24 | $5.8M | $-79.0M | ||
| Q1 24 | $-19.2M | $-193.9M |
自由现金流率CUBIRARE
| Q4 25 | 203.0% | -48.6% | ||
| Q3 25 | 45.9% | -58.0% | ||
| Q2 25 | 78.6% | -66.5% | ||
| Q1 25 | 65.4% | -120.5% | ||
| Q4 24 | 85.5% | -48.3% | ||
| Q3 24 | 14.4% | -49.2% | ||
| Q2 24 | 2.9% | -53.7% | ||
| Q1 24 | -10.6% | -178.2% |
资本支出强度CUBIRARE
| Q4 25 | 5.8% | 0.5% | ||
| Q3 25 | 4.5% | 0.8% | ||
| Q2 25 | 0.0% | 1.5% | ||
| Q1 25 | 0.5% | 1.0% | ||
| Q4 24 | 0.9% | 0.1% | ||
| Q3 24 | 0.2% | 1.2% | ||
| Q2 24 | 0.2% | 1.4% | ||
| Q1 24 | 0.2% | 3.0% |
现金转化率CUBIRARE
| Q4 25 | — | — | ||
| Q3 25 | 1.54× | — | ||
| Q2 25 | 2.66× | — | ||
| Q1 25 | 7.29× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.52× | — | ||
| Q2 24 | 0.10× | — | ||
| Q1 24 | -0.38× | — |
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
CUBI
暂无分部数据
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
