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Global Net Lease, Inc.（GNL）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Global Net Lease, Inc.的1.8倍（$207.3M vs $117.0M），Global Net Lease, Inc.净利率更高（41.2% vs -62.0%，领先103.2%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -15.1%），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -11.1%）
Global Net Lease, Inc. 是一家上市房地产投资信托机构，主要收购、持有并运营多元化商业地产资产，通过长期净租赁协议出租物业，项目覆盖北美、欧洲多地，涵盖工业、办公、零售等领域，为股东提供稳定的长期收益。
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。
GNL vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $117.0M | $207.3M |
| 净利润 | $48.2M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | 94.7% | -54.7% |
| 净利率 | 41.2% | -62.0% |
| 营收同比 | -15.1% | 25.9% |
| 净利润同比 | 838.7% | 3.5% |
| 每股收益（稀释后） | $0.14 | $-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 | $117.0M | $207.3M | ||
| Q3 25 | $121.0M | $159.9M | ||
| Q2 25 | $124.9M | $166.5M | ||
| Q1 25 | $132.4M | $139.3M | ||
| Q4 24 | $137.8M | $164.6M | ||
| Q3 24 | $138.7M | $139.5M | ||
| Q2 24 | $145.5M | $147.0M | ||
| Q1 24 | $147.9M | $108.8M |
| Q4 25 | $48.2M | $-128.6M | ||
| Q3 25 | $-60.1M | $-180.4M | ||
| Q2 25 | $-24.1M | $-115.0M | ||
| Q1 25 | $-189.4M | $-151.1M | ||
| Q4 24 | $-6.5M | $-133.2M | ||
| Q3 24 | $-65.6M | $-133.5M | ||
| Q2 24 | $-35.7M | $-131.6M | ||
| Q1 24 | $-23.8M | $-170.7M |
| Q4 25 | 94.7% | -54.7% | ||
| Q3 25 | -11.7% | -106.9% | ||
| Q2 25 | 33.9% | -64.8% | ||
| Q1 25 | -21.1% | -102.6% | ||
| Q4 24 | 40.8% | -74.3% | ||
| Q3 24 | 9.3% | -94.6% | ||
| Q2 24 | 42.6% | -79.1% | ||
| Q1 24 | 38.6% | -151.9% |
| Q4 25 | 41.2% | -62.0% | ||
| Q3 25 | -49.7% | -112.8% | ||
| Q2 25 | -19.3% | -69.0% | ||
| Q1 25 | -143.0% | -108.5% | ||
| Q4 24 | -4.7% | -80.9% | ||
| Q3 24 | -47.3% | -95.7% | ||
| Q2 24 | -24.5% | -89.5% | ||
| Q1 24 | -16.1% | -156.8% |
| Q4 25 | $0.14 | $-1.28 | ||
| Q3 25 | $-0.32 | $-1.81 | ||
| Q2 25 | $-0.16 | $-1.17 | ||
| Q1 25 | $-0.87 | $-1.57 | ||
| Q4 24 | $-0.08 | $-1.34 | ||
| Q3 24 | $-0.33 | $-1.40 | ||
| Q2 24 | $-0.20 | $-1.52 | ||
| Q1 24 | $-0.15 | $-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 | $180.1M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.7B | $-80.0M |
| 总资产 | $4.3B | $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 | $180.1M | $421.0M | ||
| Q3 25 | $165.1M | $202.5M | ||
| Q2 25 | $144.8M | $176.3M | ||
| Q1 25 | $147.0M | $127.1M | ||
| Q4 24 | $159.7M | $174.0M | ||
| Q3 24 | $127.2M | $150.6M | ||
| Q2 24 | $122.2M | $480.7M | ||
| Q1 24 | $131.9M | $112.3M |
| Q4 25 | $1.7B | $-80.0M | ||
| Q3 25 | $1.7B | $9.2M | ||
| Q2 25 | $1.8B | $151.3M | ||
| Q1 25 | $1.9B | $144.2M | ||
| Q4 24 | $2.2B | $255.0M | ||
| Q3 24 | $2.3B | $346.8M | ||
| Q2 24 | $2.4B | $432.4M | ||
| Q1 24 | $2.5B | $140.3M |
| Q4 25 | $4.3B | $1.5B | ||
| Q3 25 | $4.8B | $1.2B | ||
| Q2 25 | $5.0B | $1.3B | ||
| Q1 25 | $5.8B | $1.3B | ||
| Q4 24 | $7.0B | $1.5B | ||
| Q3 24 | $7.3B | $1.5B | ||
| Q2 24 | $7.6B | $1.6B | ||
| Q1 24 | $8.0B | $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 | $222.8M | $-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 | — | 0.5% |
| 现金转化率经营现金流/净利润 | 4.62× | — |
| 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
| Q4 25 | $222.8M | $-99.8M | ||
| Q3 25 | $56.0M | $-91.4M | ||
| Q2 25 | $52.0M | $-108.3M | ||
| Q1 25 | $59.2M | $-166.5M | ||
| Q4 24 | $299.5M | $-79.3M | ||
| Q3 24 | $62.1M | $-67.0M | ||
| Q2 24 | $70.4M | $-77.0M | ||
| Q1 24 | $92.2M | $-190.7M |
| Q4 25 | — | $-100.8M | ||
| Q3 25 | — | $-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 |
| Q4 25 | — | -48.6% | ||
| Q3 25 | — | -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% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 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% |
| Q4 25 | 4.62× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
GNL
| Industrial And Distribution Segment | $56.0M | 48% |
| Office Segment | $30.8M | 26% |
| Single Tenant Retail Segment | $30.2M | 26% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
