vs
Figma, Inc.（FIG）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
Figma, Inc.的季度营收约是Ultragenyx Pharmaceutical Inc.的1.3倍（$274.2M vs $207.3M），Ultragenyx Pharmaceutical Inc.净利率更高（-62.0% vs -400.1%，领先338.1%），Figma, Inc.同比增速更快（38.0% vs 25.9%），Figma, Inc.自由现金流更多（$49.5M vs $-100.8M）
Figma是主打界面设计的协作式网页应用，同时适配macOS与Windows桌面端，支持离线使用。产品聚焦UI/UX设计场景，内置矢量图形编辑、原型制作工具，主打多人实时协作，安卓及iOS移动端应用可支持用户在手机、平板上随时查看并交互预览设计原型。
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。
FIG vs RARE — 直观对比
营收规模更大
FIG
是对方的1.3倍
$207.3M
营收增速更快
FIG
高出12.1%
25.9%
净利率更高
RARE
高出338.1%
-400.1%
自由现金流更多
FIG
多$150.2M
$-100.8M
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $274.2M | $207.3M |
| 净利润 | $-1.1B | $-128.6M |
| 毛利率 | 69.4% | — |
| 营业利润率 | -414.6% | -54.7% |
| 净利率 | -400.1% | -62.0% |
| 营收同比 | 38.0% | 25.9% |
| 净利润同比 | -6933.0% | 3.5% |
| 每股收益（稀释后） | $-2.72 | $-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FIGRARE
| Q4 25 | — | $207.3M | ||
| Q3 25 | $274.2M | $159.9M | ||
| Q2 25 | $249.6M | $166.5M | ||
| Q1 25 | — | $139.3M | ||
| Q4 24 | — | $164.6M | ||
| Q3 24 | $198.6M | $139.5M | ||
| Q2 24 | $177.2M | $147.0M | ||
| Q1 24 | — | $108.8M |
净利润FIGRARE
| Q4 25 | — | $-128.6M | ||
| Q3 25 | $-1.1B | $-180.4M | ||
| Q2 25 | $28.2M | $-115.0M | ||
| Q1 25 | — | $-151.1M | ||
| Q4 24 | — | $-133.2M | ||
| Q3 24 | $-15.6M | $-133.5M | ||
| Q2 24 | $-827.9M | $-131.6M | ||
| Q1 24 | — | $-170.7M |
毛利率FIGRARE
| Q4 25 | — | — | ||
| Q3 25 | 69.4% | — | ||
| Q2 25 | 88.8% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 90.6% | — | ||
| Q2 24 | 77.7% | — | ||
| Q1 24 | — | — |
营业利润率FIGRARE
| Q4 25 | — | -54.7% | ||
| Q3 25 | -414.6% | -106.9% | ||
| Q2 25 | 0.8% | -64.8% | ||
| Q1 25 | — | -102.6% | ||
| Q4 24 | — | -74.3% | ||
| Q3 24 | -23.8% | -94.6% | ||
| Q2 24 | -504.7% | -79.1% | ||
| Q1 24 | — | -151.9% |
净利率FIGRARE
| Q4 25 | — | -62.0% | ||
| Q3 25 | -400.1% | -112.8% | ||
| Q2 25 | 11.3% | -69.0% | ||
| Q1 25 | — | -108.5% | ||
| Q4 24 | — | -80.9% | ||
| Q3 24 | -7.9% | -95.7% | ||
| Q2 24 | -467.2% | -89.5% | ||
| Q1 24 | — | -156.8% |
每股收益（稀释后）FIGRARE
| Q4 25 | — | $-1.28 | ||
| Q3 25 | $-2.72 | $-1.81 | ||
| Q2 25 | $0.00 | $-1.17 | ||
| Q1 25 | — | $-1.57 | ||
| Q4 24 | — | $-1.34 | ||
| Q3 24 | $-0.07 | $-1.40 | ||
| Q2 24 | $-4.39 | $-1.52 | ||
| Q1 24 | — | $-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 | $1.6B | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.4B | $-80.0M |
| 总资产 | $2.1B | $1.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资FIGRARE
| Q4 25 | — | $421.0M | ||
| Q3 25 | $1.6B | $202.5M | ||
| Q2 25 | $1.6B | $176.3M | ||
| Q1 25 | — | $127.1M | ||
| Q4 24 | — | $174.0M | ||
| Q3 24 | $416.1M | $150.6M | ||
| Q2 24 | $586.1M | $480.7M | ||
| Q1 24 | — | $112.3M |
股东权益FIGRARE
| Q4 25 | — | $-80.0M | ||
| Q3 25 | $1.4B | $9.2M | ||
| Q2 25 | $1.4B | $151.3M | ||
| Q1 25 | — | $144.2M | ||
| Q4 24 | — | $255.0M | ||
| Q3 24 | $1.2B | $346.8M | ||
| Q2 24 | $862.4M | $432.4M | ||
| Q1 24 | — | $140.3M |
总资产FIGRARE
| Q4 25 | — | $1.5B | ||
| Q3 25 | $2.1B | $1.2B | ||
| Q2 25 | $2.0B | $1.3B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $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 | $51.2M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $49.5M | $-100.8M |
| 自由现金流率自由现金流/营收 | 18.0% | -48.6% |
| 资本支出强度资本支出/营收 | 0.6% | 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 | — | $-472.0M |
8季度趋势，按日历期对齐
经营现金流FIGRARE
| Q4 25 | — | $-99.8M | ||
| Q3 25 | $51.2M | $-91.4M | ||
| Q2 25 | — | $-108.3M | ||
| Q1 25 | — | $-166.5M | ||
| Q4 24 | — | $-79.3M | ||
| Q3 24 | — | $-67.0M | ||
| Q2 24 | — | $-77.0M | ||
| Q1 24 | — | $-190.7M |
自由现金流FIGRARE
| Q4 25 | — | $-100.8M | ||
| Q3 25 | $49.5M | $-92.7M | ||
| Q2 25 | — | $-110.7M | ||
| Q1 25 | — | $-167.8M | ||
| Q4 24 | — | $-79.5M | ||
| Q3 24 | — | $-68.6M | ||
| Q2 24 | — | $-79.0M | ||
| Q1 24 | — | $-193.9M |
自由现金流率FIGRARE
| Q4 25 | — | -48.6% | ||
| Q3 25 | 18.0% | -58.0% | ||
| Q2 25 | — | -66.5% | ||
| Q1 25 | — | -120.5% | ||
| Q4 24 | — | -48.3% | ||
| Q3 24 | — | -49.2% | ||
| Q2 24 | — | -53.7% | ||
| Q1 24 | — | -178.2% |
资本支出强度FIGRARE
| Q4 25 | — | 0.5% | ||
| Q3 25 | 0.6% | 0.8% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 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
FIG
| Non Us | $147.4M | 54% |
| US | $126.8M | 46% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
