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Enphase Energy（ENPH）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
Enphase Energy的季度营收约是Ultragenyx Pharmaceutical Inc.的1.4倍（$282.9M vs $207.3M），Enphase Energy净利率更高（-2.6% vs -62.0%，领先59.4%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -20.6%），Enphase Energy自由现金流更多（$83.0M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -3.4%）
Enphase Energy是总部位于美国加利福尼亚州弗里蒙特的能源科技企业，成立于2006年，是全球首家成功实现光伏微型逆变器商业化的企业，主要面向住宅用户研发生产光伏微型逆变器、储能电池及电动汽车充电桩。
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。
ENPH vs RARE — 直观对比
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $282.9M | $207.3M |
| 净利润 | $-7.4M | $-128.6M |
| 毛利率 | 35.5% | — |
| 营业利润率 | 54.0% | -54.7% |
| 净利率 | -2.6% | -62.0% |
| 营收同比 | -20.6% | 25.9% |
| 净利润同比 | -124.9% | 3.5% |
| 每股收益（稀释后） | $-0.06 | $-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 | $282.9M | — | ||
| Q4 25 | $343.3M | $207.3M | ||
| Q3 25 | $410.4M | $159.9M | ||
| Q2 25 | $363.2M | $166.5M | ||
| Q1 25 | $356.1M | $139.3M | ||
| Q4 24 | $382.7M | $164.6M | ||
| Q3 24 | $380.9M | $139.5M | ||
| Q2 24 | $303.5M | $147.0M |
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | $-128.6M | ||
| Q3 25 | $66.6M | $-180.4M | ||
| Q2 25 | $37.1M | $-115.0M | ||
| Q1 25 | $29.7M | $-151.1M | ||
| Q4 24 | $62.2M | $-133.2M | ||
| Q3 24 | $45.8M | $-133.5M | ||
| Q2 24 | $10.8M | $-131.6M |
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | — | ||
| Q3 25 | 47.8% | — | ||
| Q2 25 | 46.9% | — | ||
| Q1 25 | 47.2% | — | ||
| Q4 24 | 51.8% | — | ||
| Q3 24 | 46.8% | — | ||
| Q2 24 | 45.2% | — |
| Q1 26 | 54.0% | — | ||
| Q4 25 | 6.5% | -54.7% | ||
| Q3 25 | 16.1% | -106.9% | ||
| Q2 25 | 10.2% | -64.8% | ||
| Q1 25 | 9.0% | -102.6% | ||
| Q4 24 | 14.3% | -74.3% | ||
| Q3 24 | 13.1% | -94.6% | ||
| Q2 24 | 0.6% | -79.1% |
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | -62.0% | ||
| Q3 25 | 16.2% | -112.8% | ||
| Q2 25 | 10.2% | -69.0% | ||
| Q1 25 | 8.3% | -108.5% | ||
| Q4 24 | 16.2% | -80.9% | ||
| Q3 24 | 12.0% | -95.7% | ||
| Q2 24 | 3.6% | -89.5% |
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | $-1.28 | ||
| Q3 25 | $0.50 | $-1.81 | ||
| Q2 25 | $0.28 | $-1.17 | ||
| Q1 25 | $0.22 | $-1.57 | ||
| Q4 24 | $0.46 | $-1.34 | ||
| Q3 24 | $0.33 | $-1.40 | ||
| Q2 24 | $0.08 | $-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 | $497.5M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.1B | $-80.0M |
| 总资产 | $2.7B | $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 | $497.5M | — | ||
| Q4 25 | $1.5B | $421.0M | ||
| Q3 25 | $1.5B | $202.5M | ||
| Q2 25 | $1.5B | $176.3M | ||
| Q1 25 | $1.5B | $127.1M | ||
| Q4 24 | $1.6B | $174.0M | ||
| Q3 24 | $1.8B | $150.6M | ||
| Q2 24 | $1.6B | $480.7M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $-80.0M | ||
| Q3 25 | $995.0M | $9.2M | ||
| Q2 25 | $880.6M | $151.3M | ||
| Q1 25 | $810.7M | $144.2M | ||
| Q4 24 | $833.0M | $255.0M | ||
| Q3 24 | $931.4M | $346.8M | ||
| Q2 24 | $884.5M | $432.4M |
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | $1.5B | ||
| Q3 25 | $3.3B | $1.2B | ||
| Q2 25 | $3.2B | $1.3B | ||
| Q1 25 | $3.1B | $1.3B | ||
| Q4 24 | $3.2B | $1.5B | ||
| Q3 24 | $3.3B | $1.5B | ||
| Q2 24 | $3.2B | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | — | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 1.37× | — | ||
| Q1 25 | 1.48× | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 1.40× | — | ||
| Q2 24 | 1.47× | — |
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 | $102.9M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $83.0M | $-100.8M |
| 自由现金流率自由现金流/营收 | 29.3% | -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 | — | — |
| 过去12个月自由现金流最近4个季度 | $145.1M | $-472.0M |
8季度趋势，按日历期对齐
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $-99.8M | ||
| Q3 25 | $13.9M | $-91.4M | ||
| Q2 25 | $26.6M | $-108.3M | ||
| Q1 25 | $48.4M | $-166.5M | ||
| Q4 24 | $167.3M | $-79.3M | ||
| Q3 24 | $170.1M | $-67.0M | ||
| Q2 24 | $127.1M | $-77.0M |
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | $-100.8M | ||
| Q3 25 | $5.9M | $-92.7M | ||
| Q2 25 | $18.4M | $-110.7M | ||
| Q1 25 | $33.8M | $-167.8M | ||
| Q4 24 | $159.2M | $-79.5M | ||
| Q3 24 | $161.6M | $-68.6M | ||
| Q2 24 | $117.4M | $-79.0M |
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | -48.6% | ||
| Q3 25 | 1.4% | -58.0% | ||
| Q2 25 | 5.1% | -66.5% | ||
| Q1 25 | 9.5% | -120.5% | ||
| Q4 24 | 41.6% | -48.3% | ||
| Q3 24 | 42.4% | -49.2% | ||
| Q2 24 | 38.7% | -53.7% |
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 0.5% | ||
| Q3 25 | 2.0% | 0.8% | ||
| Q2 25 | 2.3% | 1.5% | ||
| Q1 25 | 4.1% | 1.0% | ||
| Q4 24 | 2.1% | 0.1% | ||
| Q3 24 | 2.2% | 1.2% | ||
| Q2 24 | 3.2% | 1.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | — | ||
| Q3 25 | 0.21× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 1.63× | — | ||
| Q4 24 | 2.69× | — | ||
| Q3 24 | 3.72× | — | ||
| Q2 24 | 11.73× | — |
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
ENPH
暂无分部数据
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
