vs
Fat Brands, Inc（FAT）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Fat Brands, Inc的1.5倍（$207.3M vs $140.0M），Fat Brands, Inc净利率更高（-41.6% vs -62.0%，领先20.4%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -2.3%），Fat Brands, Inc自由现金流更多（$-16.9M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -6.1%）
FAT Brands是来自美国的多品牌餐饮与体育酒吧连锁运营商，总部位于加利福尼亚州比弗利山庄，主要开展餐饮品牌的连锁加盟运营业务，旗下涵盖多个餐饮及休闲体育酒吧品牌。
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。
FAT vs RARE — 直观对比
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $140.0M | $207.3M |
| 净利润 | $-58.2M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | -12.4% | -54.7% |
| 净利率 | -41.6% | -62.0% |
| 营收同比 | -2.3% | 25.9% |
| 净利润同比 | -30.1% | 3.5% |
| 每股收益（稀释后） | $-3.39 | $-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 | — | $207.3M | ||
| Q3 25 | $140.0M | $159.9M | ||
| Q2 25 | $146.8M | $166.5M | ||
| Q1 25 | $142.0M | $139.3M | ||
| Q4 24 | $145.3M | $164.6M | ||
| Q3 24 | $143.4M | $139.5M | ||
| Q2 24 | $152.0M | $147.0M | ||
| Q1 24 | $152.0M | $108.8M |
| Q4 25 | — | $-128.6M | ||
| Q3 25 | $-58.2M | $-180.4M | ||
| Q2 25 | $-54.2M | $-115.0M | ||
| Q1 25 | $-46.0M | $-151.1M | ||
| Q4 24 | $-67.4M | $-133.2M | ||
| Q3 24 | $-44.8M | $-133.5M | ||
| Q2 24 | $-39.4M | $-131.6M | ||
| Q1 24 | $-38.3M | $-170.7M |
| Q4 25 | — | -54.7% | ||
| Q3 25 | -12.4% | -106.9% | ||
| Q2 25 | -10.6% | -64.8% | ||
| Q1 25 | -6.0% | -102.6% | ||
| Q4 24 | -27.1% | -74.3% | ||
| Q3 24 | -6.2% | -94.6% | ||
| Q2 24 | -1.8% | -79.1% | ||
| Q1 24 | -0.9% | -151.9% |
| Q4 25 | — | -62.0% | ||
| Q3 25 | -41.6% | -112.8% | ||
| Q2 25 | -36.9% | -69.0% | ||
| Q1 25 | -32.4% | -108.5% | ||
| Q4 24 | -46.4% | -80.9% | ||
| Q3 24 | -31.2% | -95.7% | ||
| Q2 24 | -25.9% | -89.5% | ||
| Q1 24 | -25.2% | -156.8% |
| Q4 25 | — | $-1.28 | ||
| Q3 25 | $-3.39 | $-1.81 | ||
| Q2 25 | $-3.17 | $-1.17 | ||
| Q1 25 | $-2.73 | $-1.57 | ||
| Q4 24 | $-4.06 | $-1.34 | ||
| Q3 24 | $-2.74 | $-1.40 | ||
| Q2 24 | $-2.43 | $-1.52 | ||
| Q1 24 | $-2.37 | $-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 | — | $421.0M |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $-585.8M | $-80.0M |
| 总资产 | $1.2B | $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 | — | $421.0M | ||
| Q3 25 | — | $202.5M | ||
| Q2 25 | — | $176.3M | ||
| Q1 25 | — | $127.1M | ||
| Q4 24 | — | $174.0M | ||
| Q3 24 | — | $150.6M | ||
| Q2 24 | — | $480.7M | ||
| Q1 24 | — | $112.3M |
| Q4 25 | — | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | — |
| Q4 25 | — | $-80.0M | ||
| Q3 25 | $-585.8M | $9.2M | ||
| Q2 25 | $-536.5M | $151.3M | ||
| Q1 25 | $-493.9M | $144.2M | ||
| Q4 24 | $-455.7M | $255.0M | ||
| Q3 24 | $-386.1M | $346.8M | ||
| Q2 24 | $-338.6M | $432.4M | ||
| Q1 24 | $-296.8M | $140.3M |
| Q4 25 | — | $1.5B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $1.4B | $1.6B | ||
| Q1 24 | $1.4B | $1.3B |
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 | $-14.5M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $-16.9M | $-100.8M |
| 自由现金流率自由现金流/营收 | -12.1% | -48.6% |
| 资本支出强度资本支出/营收 | 1.7% | 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 | $-75.0M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | — | $-99.8M | ||
| Q3 25 | $-14.5M | $-91.4M | ||
| Q2 25 | $-26.9M | $-108.3M | ||
| Q1 25 | $-13.2M | $-166.5M | ||
| Q4 24 | $-10.4M | $-79.3M | ||
| Q3 24 | $-3.2M | $-67.0M | ||
| Q2 24 | $-14.2M | $-77.0M | ||
| Q1 24 | $-28.4M | $-190.7M |
| Q4 25 | — | $-100.8M | ||
| Q3 25 | $-16.9M | $-92.7M | ||
| Q2 25 | $-29.3M | $-110.7M | ||
| Q1 25 | $-17.8M | $-167.8M | ||
| Q4 24 | $-11.0M | $-79.5M | ||
| Q3 24 | $-11.1M | $-68.6M | ||
| Q2 24 | $-24.4M | $-79.0M | ||
| Q1 24 | $-32.5M | $-193.9M |
| Q4 25 | — | -48.6% | ||
| Q3 25 | -12.1% | -58.0% | ||
| Q2 25 | -20.0% | -66.5% | ||
| Q1 25 | -12.5% | -120.5% | ||
| Q4 24 | -7.6% | -48.3% | ||
| Q3 24 | -7.7% | -49.2% | ||
| Q2 24 | -16.1% | -53.7% | ||
| Q1 24 | -21.4% | -178.2% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | 1.7% | 0.8% | ||
| Q2 25 | 1.6% | 1.5% | ||
| Q1 25 | 3.2% | 1.0% | ||
| Q4 24 | 0.4% | 0.1% | ||
| Q3 24 | 5.5% | 1.2% | ||
| Q2 24 | 6.7% | 1.4% | ||
| Q1 24 | 2.7% | 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
FAT
| Restaurant Sales | $96.6M | 69% |
| Royalty | $21.6M | 15% |
| Factory | $9.6M | 7% |
| Advertising | $9.1M | 7% |
| Franchisor | $1.5M | 1% |
| Other | $1.5M | 1% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
