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达尔科技（DIOD）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
达尔科技的季度营收约是Ultragenyx Pharmaceutical Inc.的1.9倍（$391.6M vs $207.3M），达尔科技净利率更高（2.6% vs -62.0%，领先64.6%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 15.4%），达尔科技自由现金流更多（$12.4M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 13.9%）
达尔科技是一家全球性半导体制造商，主营分立器件、模拟及混合信号半导体产品的设计、生产与销售，产品广泛应用于汽车、工业、消费电子、计算及通信基础设施等核心领域，服务全球各地客户。
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。
DIOD vs RARE — 直观对比
营收规模更大
DIOD
是对方的1.9倍
$207.3M
营收增速更快
RARE
高出10.5%
15.4%
净利率更高
DIOD
高出64.6%
-62.0%
自由现金流更多
DIOD
多$113.2M
$-100.8M
两年增速更快
RARE
近两年复合增速
13.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $391.6M | $207.3M |
| 净利润 | $10.2M | $-128.6M |
| 毛利率 | 31.1% | — |
| 营业利润率 | 3.4% | -54.7% |
| 净利率 | 2.6% | -62.0% |
| 营收同比 | 15.4% | 25.9% |
| 净利润同比 | 23.8% | 3.5% |
| 每股收益（稀释后） | $0.23 | $-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DIODRARE
| Q4 25 | $391.6M | $207.3M | ||
| Q3 25 | $392.2M | $159.9M | ||
| Q2 25 | $366.2M | $166.5M | ||
| Q1 25 | $332.1M | $139.3M | ||
| Q4 24 | $339.3M | $164.6M | ||
| Q3 24 | $350.1M | $139.5M | ||
| Q2 24 | $319.8M | $147.0M | ||
| Q1 24 | $302.0M | $108.8M |
净利润DIODRARE
| Q4 25 | $10.2M | $-128.6M | ||
| Q3 25 | $14.3M | $-180.4M | ||
| Q2 25 | $46.1M | $-115.0M | ||
| Q1 25 | $-4.4M | $-151.1M | ||
| Q4 24 | $8.2M | $-133.2M | ||
| Q3 24 | $13.7M | $-133.5M | ||
| Q2 24 | $8.0M | $-131.6M | ||
| Q1 24 | $14.0M | $-170.7M |
毛利率DIODRARE
| Q4 25 | 31.1% | — | ||
| Q3 25 | 30.7% | — | ||
| Q2 25 | 31.5% | — | ||
| Q1 25 | 31.5% | — | ||
| Q4 24 | 32.7% | — | ||
| Q3 24 | 33.7% | — | ||
| Q2 24 | 33.6% | — | ||
| Q1 24 | 33.0% | — |
营业利润率DIODRARE
| Q4 25 | 3.4% | -54.7% | ||
| Q3 25 | 3.0% | -106.9% | ||
| Q2 25 | 2.6% | -64.8% | ||
| Q1 25 | 0.4% | -102.6% | ||
| Q4 24 | 3.5% | -74.3% | ||
| Q3 24 | 6.2% | -94.6% | ||
| Q2 24 | 1.2% | -79.1% | ||
| Q1 24 | 4.3% | -151.9% |
净利率DIODRARE
| Q4 25 | 2.6% | -62.0% | ||
| Q3 25 | 3.6% | -112.8% | ||
| Q2 25 | 12.6% | -69.0% | ||
| Q1 25 | -1.3% | -108.5% | ||
| Q4 24 | 2.4% | -80.9% | ||
| Q3 24 | 3.9% | -95.7% | ||
| Q2 24 | 2.5% | -89.5% | ||
| Q1 24 | 4.6% | -156.8% |
每股收益（稀释后）DIODRARE
| Q4 25 | $0.23 | $-1.28 | ||
| Q3 25 | $0.31 | $-1.81 | ||
| Q2 25 | $0.99 | $-1.17 | ||
| Q1 25 | $-0.10 | $-1.57 | ||
| Q4 24 | $0.18 | $-1.34 | ||
| Q3 24 | $0.30 | $-1.40 | ||
| Q2 24 | $0.17 | $-1.52 | ||
| Q1 24 | $0.30 | $-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 | $377.0M | $421.0M |
| 总债务越低越好 | $25.7M | — |
| 股东权益账面价值 | $1.9B | $-80.0M |
| 总资产 | $2.4B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.01× | — |
8季度趋势，按日历期对齐
现金及短期投资DIODRARE
| Q4 25 | $377.0M | $421.0M | ||
| Q3 25 | $386.4M | $202.5M | ||
| Q2 25 | $327.3M | $176.3M | ||
| Q1 25 | $343.9M | $127.1M | ||
| Q4 24 | $316.1M | $174.0M | ||
| Q3 24 | $319.3M | $150.6M | ||
| Q2 24 | $273.9M | $480.7M | ||
| Q1 24 | $276.0M | $112.3M |
总债务DIODRARE
| Q4 25 | $25.7M | — | ||
| Q3 25 | $24.9M | — | ||
| Q2 25 | $26.4M | — | ||
| Q1 25 | $20.5M | — | ||
| Q4 24 | $20.7M | — | ||
| Q3 24 | $22.2M | — | ||
| Q2 24 | $20.3M | — | ||
| Q1 24 | $20.9M | — |
股东权益DIODRARE
| Q4 25 | $1.9B | $-80.0M | ||
| Q3 25 | $1.9B | $9.2M | ||
| Q2 25 | $1.9B | $151.3M | ||
| Q1 25 | $1.8B | $144.2M | ||
| Q4 24 | $1.8B | $255.0M | ||
| Q3 24 | $1.8B | $346.8M | ||
| Q2 24 | $1.8B | $432.4M | ||
| Q1 24 | $1.7B | $140.3M |
总资产DIODRARE
| Q4 25 | $2.4B | $1.5B | ||
| Q3 25 | $2.5B | $1.2B | ||
| Q2 25 | $2.5B | $1.3B | ||
| Q1 25 | $2.4B | $1.3B | ||
| Q4 24 | $2.4B | $1.5B | ||
| Q3 24 | $2.4B | $1.5B | ||
| Q2 24 | $2.4B | $1.6B | ||
| Q1 24 | $2.4B | $1.3B |
负债/权益比DIODRARE
| Q4 25 | 0.01× | — | ||
| Q3 25 | 0.01× | — | ||
| Q2 25 | 0.01× | — | ||
| Q1 25 | 0.01× | — | ||
| Q4 24 | 0.01× | — | ||
| Q3 24 | 0.01× | — | ||
| Q2 24 | 0.01× | — | ||
| Q1 24 | 0.01× | — |
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 | $38.1M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $12.4M | $-100.8M |
| 自由现金流率自由现金流/营收 | 3.2% | -48.6% |
| 资本支出强度资本支出/营收 | 6.6% | 0.5% |
| 现金转化率经营现金流/净利润 | 3.74× | — |
| 过去12个月自由现金流最近4个季度 | $137.2M | $-472.0M |
8季度趋势，按日历期对齐
经营现金流DIODRARE
| Q4 25 | $38.1M | $-99.8M | ||
| Q3 25 | $79.1M | $-91.4M | ||
| Q2 25 | $41.5M | $-108.3M | ||
| Q1 25 | $56.7M | $-166.5M | ||
| Q4 24 | $81.8M | $-79.3M | ||
| Q3 24 | $54.4M | $-67.0M | ||
| Q2 24 | $14.4M | $-77.0M | ||
| Q1 24 | $-31.1M | $-190.7M |
自由现金流DIODRARE
| Q4 25 | $12.4M | $-100.8M | ||
| Q3 25 | $62.8M | $-92.7M | ||
| Q2 25 | $21.1M | $-110.7M | ||
| Q1 25 | $40.8M | $-167.8M | ||
| Q4 24 | $62.1M | $-79.5M | ||
| Q3 24 | $39.4M | $-68.6M | ||
| Q2 24 | $-3.5M | $-79.0M | ||
| Q1 24 | $-51.5M | $-193.9M |
自由现金流率DIODRARE
| Q4 25 | 3.2% | -48.6% | ||
| Q3 25 | 16.0% | -58.0% | ||
| Q2 25 | 5.8% | -66.5% | ||
| Q1 25 | 12.3% | -120.5% | ||
| Q4 24 | 18.3% | -48.3% | ||
| Q3 24 | 11.2% | -49.2% | ||
| Q2 24 | -1.1% | -53.7% | ||
| Q1 24 | -17.1% | -178.2% |
资本支出强度DIODRARE
| Q4 25 | 6.6% | 0.5% | ||
| Q3 25 | 4.2% | 0.8% | ||
| Q2 25 | 5.6% | 1.5% | ||
| Q1 25 | 4.8% | 1.0% | ||
| Q4 24 | 5.8% | 0.1% | ||
| Q3 24 | 4.3% | 1.2% | ||
| Q2 24 | 5.6% | 1.4% | ||
| Q1 24 | 6.7% | 3.0% |
现金转化率DIODRARE
| Q4 25 | 3.74× | — | ||
| Q3 25 | 5.54× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 9.93× | — | ||
| Q3 24 | 3.95× | — | ||
| Q2 24 | 1.80× | — | ||
| Q1 24 | -2.22× | — |
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
DIOD
| Distributor | $253.1M | 65% |
| Direct Sales | $138.5M | 35% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
