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CALIFORNIA WATER SERVICE GROUP（CWT）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
CALIFORNIA WATER SERVICE GROUP的季度营收约是Ultragenyx Pharmaceutical Inc.的1.0倍（$210.7M vs $207.3M），CALIFORNIA WATER SERVICE GROUP净利率更高（5.4% vs -62.0%，领先67.5%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -3.3%），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 16.6%）
加利福尼亚水务集团是美国公共事业企业，主营饮用水及污水处理服务，是美国第三大上市投资者所有水务公司，通过加利福尼亚、夏威夷、新墨西哥、华盛顿等州的子公司，为约200万民众提供服务。集团成立于1997年，作为加州水务的控股主体，推动业务向美国其他各州拓展。
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。
CWT vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $210.7M | $207.3M |
| 净利润 | $11.5M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | 12.2% | -54.7% |
| 净利率 | 5.4% | -62.0% |
| 营收同比 | -3.3% | 25.9% |
| 净利润同比 | -41.0% | 3.5% |
| 每股收益（稀释后） | $0.19 | $-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
| Q4 25 | $210.7M | $207.3M | ||
| Q3 25 | $314.1M | $159.9M | ||
| Q2 25 | $256.2M | $166.5M | ||
| Q1 25 | $182.7M | $139.3M | ||
| Q4 24 | $217.8M | $164.6M | ||
| Q3 24 | $306.2M | $139.5M | ||
| Q2 24 | $226.7M | $147.0M | ||
| Q1 24 | $154.9M | $108.8M |
| Q4 25 | $11.5M | $-128.6M | ||
| Q3 25 | $61.2M | $-180.4M | ||
| Q2 25 | $42.2M | $-115.0M | ||
| Q1 25 | $13.3M | $-151.1M | ||
| Q4 24 | $19.5M | $-133.2M | ||
| Q3 24 | $60.7M | $-133.5M | ||
| Q2 24 | $40.6M | $-131.6M | ||
| Q1 24 | $69.9M | $-170.7M |
| Q4 25 | 12.2% | -54.7% | ||
| Q3 25 | 22.5% | -106.9% | ||
| Q2 25 | 20.2% | -64.8% | ||
| Q1 25 | 12.2% | -102.6% | ||
| Q4 24 | 14.8% | -74.3% | ||
| Q3 24 | 21.8% | -94.6% | ||
| Q2 24 | 21.2% | -79.1% | ||
| Q1 24 | 50.3% | -151.9% |
| Q4 25 | 5.4% | -62.0% | ||
| Q3 25 | 19.5% | -112.8% | ||
| Q2 25 | 16.5% | -69.0% | ||
| Q1 25 | 7.3% | -108.5% | ||
| Q4 24 | 8.9% | -80.9% | ||
| Q3 24 | 19.8% | -95.7% | ||
| Q2 24 | 17.9% | -89.5% | ||
| Q1 24 | 45.1% | -156.8% |
| Q4 25 | $0.19 | $-1.28 | ||
| Q3 25 | $1.03 | $-1.81 | ||
| Q2 25 | $0.71 | $-1.17 | ||
| Q1 25 | $0.22 | $-1.57 | ||
| Q4 24 | $0.31 | $-1.34 | ||
| Q3 24 | $1.03 | $-1.40 | ||
| Q2 24 | $0.70 | $-1.52 | ||
| Q1 24 | $1.21 | $-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 | $51.8M | $421.0M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $1.7B | $-80.0M |
| 总资产 | $5.7B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.87× | — |
8季度趋势，按日历期对齐
| Q4 25 | $51.8M | $421.0M | ||
| Q3 25 | $76.0M | $202.5M | ||
| Q2 25 | $50.5M | $176.3M | ||
| Q1 25 | $44.5M | $127.1M | ||
| Q4 24 | $50.1M | $174.0M | ||
| Q3 24 | $59.6M | $150.6M | ||
| Q2 24 | $37.3M | $480.7M | ||
| Q1 24 | $42.8M | $112.3M |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.7B | $-80.0M | ||
| Q3 25 | $1.7B | $9.2M | ||
| Q2 25 | $1.7B | $151.3M | ||
| Q1 25 | $1.6B | $144.2M | ||
| Q4 24 | $1.6B | $255.0M | ||
| Q3 24 | $1.6B | $346.8M | ||
| Q2 24 | $1.5B | $432.4M | ||
| Q1 24 | $1.5B | $140.3M |
| Q4 25 | $5.7B | $1.5B | ||
| Q3 25 | $5.5B | $1.2B | ||
| Q2 25 | $5.4B | $1.3B | ||
| Q1 25 | $5.3B | $1.3B | ||
| Q4 24 | $5.2B | $1.5B | ||
| Q3 24 | $5.0B | $1.5B | ||
| Q2 24 | $4.9B | $1.6B | ||
| Q1 24 | $4.8B | $1.3B |
| Q4 25 | 0.87× | — | ||
| Q3 25 | 0.65× | — | ||
| Q2 25 | 0.67× | — | ||
| Q1 25 | 0.68× | — | ||
| Q4 24 | 0.67× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $47.9M | $-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 | 4.17× | — |
| 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
| Q4 25 | $47.9M | $-99.8M | ||
| Q3 25 | $167.3M | $-91.4M | ||
| Q2 25 | $48.9M | $-108.3M | ||
| Q1 25 | $38.4M | $-166.5M | ||
| Q4 24 | $68.1M | $-79.3M | ||
| Q3 24 | $101.8M | $-67.0M | ||
| Q2 24 | $94.4M | $-77.0M | ||
| Q1 24 | $26.5M | $-190.7M |
| Q4 25 | — | $-100.8M | ||
| Q3 25 | — | $-92.7M | ||
| Q2 25 | — | $-110.7M | ||
| Q1 25 | — | $-167.8M | ||
| Q4 24 | — | $-79.5M | ||
| Q3 24 | — | $-68.6M | ||
| Q2 24 | — | $-79.0M | ||
| Q1 24 | — | $-193.9M |
| Q4 25 | — | -48.6% | ||
| Q3 25 | — | -58.0% | ||
| Q2 25 | — | -66.5% | ||
| Q1 25 | — | -120.5% | ||
| Q4 24 | — | -48.3% | ||
| Q3 24 | — | -49.2% | ||
| Q2 24 | — | -53.7% | ||
| Q1 24 | — | -178.2% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 3.0% |
| Q4 25 | 4.17× | — | ||
| Q3 25 | 2.73× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 2.88× | — | ||
| Q4 24 | 3.50× | — | ||
| Q3 24 | 1.68× | — | ||
| Q2 24 | 2.33× | — | ||
| 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
CWT
| Residential | $133.2M | 63% |
| Business | $47.7M | 23% |
| Public Authorities | $13.4M | 6% |
| Industrial | $6.9M | 3% |
| Non Regulated Services | $4.8M | 2% |
| Other Non Regulated Service | $1.2M | 1% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
