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Delek Logistics Partners, LP（DKL）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Delek Logistics Partners, LP的1.3倍（$207.3M vs $154.7M），Delek Logistics Partners, LP净利率更高（20.9% vs -62.0%，领先82.9%），Delek Logistics Partners, LP同比增速更快（518.9% vs 25.9%），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -23.5%）
Delek Logistics Partners, LP是一家总部位于美国的中游能源物流企业，主要提供原油、成品油及可再生燃料的存储、运输与配送服务，客户覆盖美国墨西哥湾沿岸及东南部地区的下游能源运营商、零售燃油网络和工业客户。
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。
DKL vs RARE — 直观对比
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $154.7M | $207.3M |
| 净利润 | $32.4M | $-128.6M |
| 毛利率 | -62.0% | — |
| 营业利润率 | 25.9% | -54.7% |
| 净利率 | 20.9% | -62.0% |
| 营收同比 | 518.9% | 25.9% |
| 净利润同比 | — | 3.5% |
| 每股收益（稀释后） | $0.60 | $-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
| Q1 26 | $154.7M | — | ||
| Q4 25 | $255.8M | $207.3M | ||
| Q3 25 | $261.3M | $159.9M | ||
| Q2 25 | $246.3M | $166.5M | ||
| Q1 25 | $249.9M | $139.3M | ||
| Q4 24 | $209.9M | $164.6M | ||
| Q3 24 | $214.1M | $139.5M | ||
| Q2 24 | $264.6M | $147.0M |
| Q1 26 | $32.4M | — | ||
| Q4 25 | $47.3M | $-128.6M | ||
| Q3 25 | $45.6M | $-180.4M | ||
| Q2 25 | $44.6M | $-115.0M | ||
| Q1 25 | $39.0M | $-151.1M | ||
| Q4 24 | $35.3M | $-133.2M | ||
| Q3 24 | $33.7M | $-133.5M | ||
| Q2 24 | $41.1M | $-131.6M |
| Q1 26 | -62.0% | — | ||
| Q4 25 | 17.2% | — | ||
| Q3 25 | 20.6% | — | ||
| Q2 25 | 25.8% | — | ||
| Q1 25 | 21.5% | — | ||
| Q4 24 | 23.4% | — | ||
| Q3 24 | 22.8% | — | ||
| Q2 24 | 28.1% | — |
| Q1 26 | 25.9% | — | ||
| Q4 25 | 14.2% | -54.7% | ||
| Q3 25 | 17.4% | -106.9% | ||
| Q2 25 | 21.3% | -64.8% | ||
| Q1 25 | 19.0% | -102.6% | ||
| Q4 24 | 18.1% | -74.3% | ||
| Q3 24 | 14.9% | -94.6% | ||
| Q2 24 | 25.9% | -79.1% |
| Q1 26 | 20.9% | — | ||
| Q4 25 | 18.5% | -62.0% | ||
| Q3 25 | 17.4% | -112.8% | ||
| Q2 25 | 18.1% | -69.0% | ||
| Q1 25 | 15.6% | -108.5% | ||
| Q4 24 | 16.8% | -80.9% | ||
| Q3 24 | 15.7% | -95.7% | ||
| Q2 24 | 15.5% | -89.5% |
| Q1 26 | $0.60 | — | ||
| Q4 25 | — | $-1.28 | ||
| Q3 25 | — | $-1.81 | ||
| Q2 25 | — | $-1.17 | ||
| Q1 25 | — | $-1.57 | ||
| Q4 24 | — | $-1.34 | ||
| Q3 24 | — | $-1.40 | ||
| Q2 24 | — | $-1.52 |
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 | $9.9M | $421.0M |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | — | $-80.0M |
| 总资产 | $2.9B | $1.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q1 26 | $9.9M | — | ||
| Q4 25 | $10.9M | $421.0M | ||
| Q3 25 | $6.9M | $202.5M | ||
| Q2 25 | $1.4M | $176.3M | ||
| Q1 25 | $2.1M | $127.1M | ||
| Q4 24 | $5.4M | $174.0M | ||
| Q3 24 | $7.3M | $150.6M | ||
| Q2 24 | $5.1M | $480.7M |
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.6B | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $-80.0M | ||
| Q3 25 | — | $9.2M | ||
| Q2 25 | — | $151.3M | ||
| Q1 25 | — | $144.2M | ||
| Q4 24 | — | $255.0M | ||
| Q3 24 | — | $346.8M | ||
| Q2 24 | — | $432.4M |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.8B | $1.5B | ||
| Q3 25 | $2.7B | $1.2B | ||
| Q2 25 | $2.8B | $1.3B | ||
| Q1 25 | $2.4B | $1.3B | ||
| Q4 24 | $2.0B | $1.5B | ||
| Q3 24 | $2.0B | $1.5B | ||
| Q2 24 | $1.6B | $1.6B |
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 | $170.4M | $-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 | 5.4% | 0.5% |
| 现金转化率经营现金流/净利润 | 5.27× | — |
| 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
| Q1 26 | $170.4M | — | ||
| Q4 25 | $43.2M | $-99.8M | ||
| Q3 25 | $54.9M | $-91.4M | ||
| Q2 25 | $107.4M | $-108.3M | ||
| Q1 25 | $31.6M | $-166.5M | ||
| Q4 24 | $49.9M | $-79.3M | ||
| Q3 24 | $24.9M | $-67.0M | ||
| Q2 24 | $87.6M | $-77.0M |
| Q1 26 | — | — | ||
| Q4 25 | $12.6M | $-100.8M | ||
| Q3 25 | $-12.3M | $-92.7M | ||
| Q2 25 | $-7.1M | $-110.7M | ||
| Q1 25 | $-23.9M | $-167.8M | ||
| Q4 24 | $3.9M | $-79.5M | ||
| Q3 24 | $-31.7M | $-68.6M | ||
| Q2 24 | $72.5M | $-79.0M |
| Q1 26 | — | — | ||
| Q4 25 | 4.9% | -48.6% | ||
| Q3 25 | -4.7% | -58.0% | ||
| Q2 25 | -2.9% | -66.5% | ||
| Q1 25 | -9.6% | -120.5% | ||
| Q4 24 | 1.8% | -48.3% | ||
| Q3 24 | -14.8% | -49.2% | ||
| Q2 24 | 27.4% | -53.7% |
| Q1 26 | 5.4% | — | ||
| Q4 25 | 12.0% | 0.5% | ||
| Q3 25 | 25.7% | 0.8% | ||
| Q2 25 | 46.5% | 1.5% | ||
| Q1 25 | 22.2% | 1.0% | ||
| Q4 24 | 21.9% | 0.1% | ||
| Q3 24 | 26.4% | 1.2% | ||
| Q2 24 | 5.7% | 1.4% |
| Q1 26 | 5.27× | — | ||
| Q4 25 | 0.91× | — | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 2.41× | — | ||
| Q1 25 | 0.81× | — | ||
| Q4 24 | 1.41× | — | ||
| Q3 24 | 0.74× | — | ||
| Q2 24 | 2.13× | — |
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
DKL
| Third party | $105.4M | 68% |
| Affiliate | $49.2M | 32% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
