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GE医疗（DHC）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
GE医疗的季度营收约是Ultragenyx Pharmaceutical Inc.的1.8倍（$379.6M vs $207.3M），GE医疗净利率更高（-5.6% vs -62.0%，领先56.4%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -0.0%），Ultragenyx Pharmaceutical Inc.自由现金流更多（$-100.8M vs $-166.4M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 1.2%）
GE医疗是一家总部位于美国伊利诺伊州芝加哥市的医疗科技企业，业务涵盖四大板块：医疗影像设备，包括分子成像、CT、核磁共振、妇科健康筛查及X光系统；超声设备；患者护理解决方案，聚焦远程患者监测、麻醉呼吸护理、心脏诊断及婴幼儿护理；此外还涉及医药相关领域，是全球医疗行业的知名企业。
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。
DHC vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $379.6M | $207.3M |
| 净利润 | $-21.2M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | -12.6% | -54.7% |
| 净利率 | -5.6% | -62.0% |
| 营收同比 | -0.0% | 25.9% |
| 净利润同比 | 75.7% | 3.5% |
| 每股收益（稀释后） | $-0.09 | $-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 | $379.6M | $207.3M | ||
| Q3 25 | $388.7M | $159.9M | ||
| Q2 25 | $382.7M | $166.5M | ||
| Q1 25 | $386.9M | $139.3M | ||
| Q4 24 | $379.6M | $164.6M | ||
| Q3 24 | $373.6M | $139.5M | ||
| Q2 24 | $371.4M | $147.0M | ||
| Q1 24 | $370.8M | $108.8M |
| Q4 25 | $-21.2M | $-128.6M | ||
| Q3 25 | $-164.0M | $-180.4M | ||
| Q2 25 | $-91.6M | $-115.0M | ||
| Q1 25 | $-9.0M | $-151.1M | ||
| Q4 24 | $-87.4M | $-133.2M | ||
| Q3 24 | $-98.7M | $-133.5M | ||
| Q2 24 | $-97.9M | $-131.6M | ||
| Q1 24 | $-86.3M | $-170.7M |
| Q4 25 | -12.6% | -54.7% | ||
| Q3 25 | -43.4% | -106.9% | ||
| Q2 25 | -24.5% | -64.8% | ||
| Q1 25 | -2.7% | -102.6% | ||
| Q4 24 | -26.1% | -74.3% | ||
| Q3 24 | -26.5% | -94.6% | ||
| Q2 24 | -23.0% | -79.1% | ||
| Q1 24 | -23.7% | -151.9% |
| Q4 25 | -5.6% | -62.0% | ||
| Q3 25 | -42.2% | -112.8% | ||
| Q2 25 | -23.9% | -69.0% | ||
| Q1 25 | -2.3% | -108.5% | ||
| Q4 24 | -23.0% | -80.9% | ||
| Q3 24 | -26.4% | -95.7% | ||
| Q2 24 | -26.3% | -89.5% | ||
| Q1 24 | -23.3% | -156.8% |
| Q4 25 | $-0.09 | $-1.28 | ||
| Q3 25 | $-0.68 | $-1.81 | ||
| Q2 25 | $-0.38 | $-1.17 | ||
| Q1 25 | $-0.04 | $-1.57 | ||
| Q4 24 | $-0.37 | $-1.34 | ||
| Q3 24 | $-0.41 | $-1.40 | ||
| Q2 24 | $-0.41 | $-1.52 | ||
| Q1 24 | $-0.36 | $-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 | $105.4M | $421.0M |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $1.7B | $-80.0M |
| 总资产 | $4.4B | $1.5B |
| 负债/权益比越低杠杆越低 | 1.47× | — |
8季度趋势，按日历期对齐
| Q4 25 | $105.4M | $421.0M | ||
| Q3 25 | $201.4M | $202.5M | ||
| Q2 25 | $141.8M | $176.3M | ||
| Q1 25 | $302.6M | $127.1M | ||
| Q4 24 | $144.6M | $174.0M | ||
| Q3 24 | $256.5M | $150.6M | ||
| Q2 24 | $265.6M | $480.7M | ||
| Q1 24 | $207.1M | $112.3M |
| Q4 25 | $2.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.7B | $-80.0M | ||
| Q3 25 | $1.7B | $9.2M | ||
| Q2 25 | $1.9B | $151.3M | ||
| Q1 25 | $1.9B | $144.2M | ||
| Q4 24 | $2.0B | $255.0M | ||
| Q3 24 | $2.0B | $346.8M | ||
| Q2 24 | $2.1B | $432.4M | ||
| Q1 24 | $2.2B | $140.3M |
| Q4 25 | $4.4B | $1.5B | ||
| Q3 25 | $4.7B | $1.2B | ||
| Q2 25 | $4.8B | $1.3B | ||
| Q1 25 | $5.0B | $1.3B | ||
| Q4 24 | $5.1B | $1.5B | ||
| Q3 24 | $5.3B | $1.5B | ||
| Q2 24 | $5.3B | $1.6B | ||
| Q1 24 | $5.3B | $1.3B |
| Q4 25 | 1.47× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.56× | — | ||
| 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 | $-19.6M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $-166.4M | $-100.8M |
| 自由现金流率自由现金流/营收 | -43.8% | -48.6% |
| 资本支出强度资本支出/营收 | 38.7% | 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 | $-280.3M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $-19.6M | $-99.8M | ||
| Q3 25 | $-49.3M | $-91.4M | ||
| Q2 25 | $53.0M | $-108.3M | ||
| Q1 25 | $-3.2M | $-166.5M | ||
| Q4 24 | $112.2M | $-79.3M | ||
| Q3 24 | $21.1M | $-67.0M | ||
| Q2 24 | $44.3M | $-77.0M | ||
| Q1 24 | $28.6M | $-190.7M |
| Q4 25 | $-166.4M | $-100.8M | ||
| Q3 25 | $-89.8M | $-92.7M | ||
| Q2 25 | $18.8M | $-110.7M | ||
| Q1 25 | $-42.9M | $-167.8M | ||
| Q4 24 | $-89.5M | $-79.5M | ||
| Q3 24 | $-26.1M | $-68.6M | ||
| Q2 24 | $3.3M | $-79.0M | ||
| Q1 24 | $-18.1M | $-193.9M |
| Q4 25 | -43.8% | -48.6% | ||
| Q3 25 | -23.1% | -58.0% | ||
| Q2 25 | 4.9% | -66.5% | ||
| Q1 25 | -11.1% | -120.5% | ||
| Q4 24 | -23.6% | -48.3% | ||
| Q3 24 | -7.0% | -49.2% | ||
| Q2 24 | 0.9% | -53.7% | ||
| Q1 24 | -4.9% | -178.2% |
| Q4 25 | 38.7% | 0.5% | ||
| Q3 25 | 10.4% | 0.8% | ||
| Q2 25 | 8.9% | 1.5% | ||
| Q1 25 | 10.2% | 1.0% | ||
| Q4 24 | 53.1% | 0.1% | ||
| Q3 24 | 12.6% | 1.2% | ||
| Q2 24 | 11.0% | 1.4% | ||
| Q1 24 | 12.6% | 3.0% |
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
DHC
| Senior Housing Operating Portfolio Segment | $323.4M | 85% |
| Rental Income | $56.2M | 15% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
