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DT Midstream, Inc.（DTM）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
DT Midstream, Inc.的季度营收约是Ultragenyx Pharmaceutical Inc.的1.5倍（$317.0M vs $207.3M），DT Midstream, Inc.净利率更高（35.0% vs -62.0%，领先97.0%），DT Midstream, Inc.同比增速更快（27.3% vs 25.9%），DT Midstream, Inc.自由现金流更多（$30.0M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 14.9%）
ONEOK是美国油气中游运营商，总部位于俄克拉荷马州塔尔萨，为油气行业提供收集、处理、分馏、运输及存储服务，是财富500强企业及标普500指数成分股。公司1906年成立时名为俄克拉荷马天然气公司，1980年更为现名。
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。
DTM vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $317.0M | $207.3M |
| 净利润 | $111.0M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | 49.2% | -54.7% |
| 净利率 | 35.0% | -62.0% |
| 营收同比 | 27.3% | 25.9% |
| 净利润同比 | 52.1% | 3.5% |
| 每股收益（稀释后） | $1.07 | $-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 | $317.0M | $207.3M | ||
| Q3 25 | $314.0M | $159.9M | ||
| Q2 25 | $309.0M | $166.5M | ||
| Q1 25 | $303.0M | $139.3M | ||
| Q4 24 | $249.0M | $164.6M | ||
| Q3 24 | $248.0M | $139.5M | ||
| Q2 24 | $244.0M | $147.0M | ||
| Q1 24 | $240.0M | $108.8M |
| Q4 25 | $111.0M | $-128.6M | ||
| Q3 25 | $115.0M | $-180.4M | ||
| Q2 25 | $107.0M | $-115.0M | ||
| Q1 25 | $108.0M | $-151.1M | ||
| Q4 24 | $73.0M | $-133.2M | ||
| Q3 24 | $88.0M | $-133.5M | ||
| Q2 24 | $96.0M | $-131.6M | ||
| Q1 24 | $97.0M | $-170.7M |
| Q4 25 | 49.2% | -54.7% | ||
| Q3 25 | 49.4% | -106.9% | ||
| Q2 25 | 50.2% | -64.8% | ||
| Q1 25 | 48.8% | -102.6% | ||
| Q4 24 | 45.4% | -74.3% | ||
| Q3 24 | 49.2% | -94.6% | ||
| Q2 24 | 53.3% | -79.1% | ||
| Q1 24 | 51.7% | -151.9% |
| Q4 25 | 35.0% | -62.0% | ||
| Q3 25 | 36.6% | -112.8% | ||
| Q2 25 | 34.6% | -69.0% | ||
| Q1 25 | 35.6% | -108.5% | ||
| Q4 24 | 29.3% | -80.9% | ||
| Q3 24 | 35.5% | -95.7% | ||
| Q2 24 | 39.3% | -89.5% | ||
| Q1 24 | 40.4% | -156.8% |
| Q4 25 | $1.07 | $-1.28 | ||
| Q3 25 | $1.13 | $-1.81 | ||
| Q2 25 | $1.04 | $-1.17 | ||
| Q1 25 | $1.06 | $-1.57 | ||
| Q4 24 | $0.73 | $-1.34 | ||
| Q3 24 | $0.90 | $-1.40 | ||
| Q2 24 | $0.98 | $-1.52 | ||
| Q1 24 | $0.99 | $-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 | $54.0M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.7B | $-80.0M |
| 总资产 | $10.1B | $1.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $54.0M | $421.0M | ||
| Q3 25 | $98.0M | $202.5M | ||
| Q2 25 | $74.0M | $176.3M | ||
| Q1 25 | $83.0M | $127.1M | ||
| Q4 24 | $68.0M | $174.0M | ||
| Q3 24 | $77.0M | $150.6M | ||
| Q2 24 | $73.0M | $480.7M | ||
| Q1 24 | $41.0M | $112.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.4B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $4.7B | $-80.0M | ||
| Q3 25 | $4.7B | $9.2M | ||
| Q2 25 | $4.7B | $151.3M | ||
| Q1 25 | $4.6B | $144.2M | ||
| Q4 24 | $4.6B | $255.0M | ||
| Q3 24 | $4.2B | $346.8M | ||
| Q2 24 | $4.2B | $432.4M | ||
| Q1 24 | $4.2B | $140.3M |
| Q4 25 | $10.1B | $1.5B | ||
| Q3 25 | $10.1B | $1.2B | ||
| Q2 25 | $10.0B | $1.3B | ||
| Q1 25 | $9.9B | $1.3B | ||
| Q4 24 | $9.9B | $1.5B | ||
| Q3 24 | $8.6B | $1.5B | ||
| Q2 24 | $9.0B | $1.6B | ||
| Q1 24 | $9.0B | $1.3B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.72× | — | ||
| 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 | $161.0M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $30.0M | $-100.8M |
| 自由现金流率自由现金流/营收 | 9.5% | -48.6% |
| 资本支出强度资本支出/营收 | 41.3% | 0.5% |
| 现金转化率经营现金流/净利润 | 1.45× | — |
| 过去12个月自由现金流最近4个季度 | $441.0M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $161.0M | $-99.8M | ||
| Q3 25 | $274.0M | $-91.4M | ||
| Q2 25 | $185.0M | $-108.3M | ||
| Q1 25 | $247.0M | $-166.5M | ||
| Q4 24 | $152.0M | $-79.3M | ||
| Q3 24 | $205.0M | $-67.0M | ||
| Q2 24 | $165.0M | $-77.0M | ||
| Q1 24 | $241.0M | $-190.7M |
| Q4 25 | $30.0M | $-100.8M | ||
| Q3 25 | $131.0M | $-92.7M | ||
| Q2 25 | $104.0M | $-110.7M | ||
| Q1 25 | $176.0M | $-167.8M | ||
| Q4 24 | $62.0M | $-79.5M | ||
| Q3 24 | $124.0M | $-68.6M | ||
| Q2 24 | $84.0M | $-79.0M | ||
| Q1 24 | $143.0M | $-193.9M |
| Q4 25 | 9.5% | -48.6% | ||
| Q3 25 | 41.7% | -58.0% | ||
| Q2 25 | 33.7% | -66.5% | ||
| Q1 25 | 58.1% | -120.5% | ||
| Q4 24 | 24.9% | -48.3% | ||
| Q3 24 | 50.0% | -49.2% | ||
| Q2 24 | 34.4% | -53.7% | ||
| Q1 24 | 59.6% | -178.2% |
| Q4 25 | 41.3% | 0.5% | ||
| Q3 25 | 45.5% | 0.8% | ||
| Q2 25 | 26.2% | 1.5% | ||
| Q1 25 | 23.4% | 1.0% | ||
| Q4 24 | 36.1% | 0.1% | ||
| Q3 24 | 32.7% | 1.2% | ||
| Q2 24 | 33.2% | 1.4% | ||
| Q1 24 | 40.8% | 3.0% |
| Q4 25 | 1.45× | — | ||
| Q3 25 | 2.38× | — | ||
| Q2 25 | 1.73× | — | ||
| Q1 25 | 2.29× | — | ||
| Q4 24 | 2.08× | — | ||
| Q3 24 | 2.33× | — | ||
| Q2 24 | 1.72× | — | ||
| Q1 24 | 2.48× | — |
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
DTM
| Pipeline Segment | $173.0M | 55% |
| Gathering Segment | $144.0M | 45% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
