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HCI Group, Inc.（HCI）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
HCI Group, Inc.的季度营收约是Ultragenyx Pharmaceutical Inc.的1.2倍（$246.2M vs $207.3M），HCI Group, Inc.净利率更高（39.7% vs -62.0%，领先101.7%），HCI Group, Inc.同比增速更快（52.1% vs 25.9%），HCI Group, Inc.自由现金流更多（$440.8M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 9.2%）
HCI集团是一家总部位于美国华盛顿特区的私募股权投资公司，在伊利诺伊州芝加哥设有分支机构，专注于股权投资相关业务，为合作企业提供资本支持与运营赋能，助力企业实现长期发展目标。
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。
HCI vs RARE — 直观对比
营收规模更大
HCI
是对方的1.2倍
$207.3M
营收增速更快
HCI
高出26.2%
25.9%
净利率更高
HCI
高出101.7%
-62.0%
自由现金流更多
HCI
多$541.6M
$-100.8M
两年增速更快
RARE
近两年复合增速
9.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $246.2M | $207.3M |
| 净利润 | $97.7M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | 58.5% | -54.7% |
| 净利率 | 39.7% | -62.0% |
| 营收同比 | 52.1% | 25.9% |
| 净利润同比 | 3679.2% | 3.5% |
| 每股收益（稀释后） | $7.29 | $-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HCIRARE
| Q4 25 | $246.2M | $207.3M | ||
| Q3 25 | $216.3M | $159.9M | ||
| Q2 25 | $221.9M | $166.5M | ||
| Q1 25 | $216.4M | $139.3M | ||
| Q4 24 | $161.9M | $164.6M | ||
| Q3 24 | $175.3M | $139.5M | ||
| Q2 24 | $206.2M | $147.0M | ||
| Q1 24 | $206.6M | $108.8M |
净利润HCIRARE
| Q4 25 | $97.7M | $-128.6M | ||
| Q3 25 | $65.5M | $-180.4M | ||
| Q2 25 | $66.2M | $-115.0M | ||
| Q1 25 | $69.7M | $-151.1M | ||
| Q4 24 | $2.6M | $-133.2M | ||
| Q3 24 | $5.7M | $-133.5M | ||
| Q2 24 | $54.1M | $-131.6M | ||
| Q1 24 | $47.6M | $-170.7M |
营业利润率HCIRARE
| Q4 25 | 58.5% | -54.7% | ||
| Q3 25 | 41.9% | -106.9% | ||
| Q2 25 | 42.5% | -64.8% | ||
| Q1 25 | 46.4% | -102.6% | ||
| Q4 24 | 3.6% | -74.3% | ||
| Q3 24 | 8.0% | -94.6% | ||
| Q2 24 | 36.9% | -79.1% | ||
| Q1 24 | 37.5% | -151.9% |
净利率HCIRARE
| Q4 25 | 39.7% | -62.0% | ||
| Q3 25 | 30.3% | -112.8% | ||
| Q2 25 | 29.8% | -69.0% | ||
| Q1 25 | 32.2% | -108.5% | ||
| Q4 24 | 1.6% | -80.9% | ||
| Q3 24 | 3.2% | -95.7% | ||
| Q2 24 | 26.2% | -89.5% | ||
| Q1 24 | 23.0% | -156.8% |
每股收益（稀释后）HCIRARE
| Q4 25 | $7.29 | $-1.28 | ||
| Q3 25 | $4.90 | $-1.81 | ||
| Q2 25 | $5.18 | $-1.17 | ||
| Q1 25 | $5.35 | $-1.57 | ||
| Q4 24 | $0.32 | $-1.34 | ||
| Q3 24 | $0.52 | $-1.40 | ||
| Q2 24 | $4.24 | $-1.52 | ||
| Q1 24 | $3.81 | $-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 | $1.2B | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.0B | $-80.0M |
| 总资产 | $2.5B | $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HCIRARE
| Q4 25 | $1.2B | $421.0M | ||
| Q3 25 | $987.9M | $202.5M | ||
| Q2 25 | $947.2M | $176.3M | ||
| Q1 25 | $754.5M | $127.1M | ||
| Q4 24 | $532.5M | $174.0M | ||
| Q3 24 | $518.8M | $150.6M | ||
| Q2 24 | $445.8M | $480.7M | ||
| Q1 24 | $655.4M | $112.3M |
股东权益HCIRARE
| Q4 25 | $1.0B | $-80.0M | ||
| Q3 25 | $821.8M | $9.2M | ||
| Q2 25 | $758.6M | $151.3M | ||
| Q1 25 | $522.7M | $144.2M | ||
| Q4 24 | $453.3M | $255.0M | ||
| Q3 24 | $455.3M | $346.8M | ||
| Q2 24 | $447.3M | $432.4M | ||
| Q1 24 | $395.7M | $140.3M |
总资产HCIRARE
| Q4 25 | $2.5B | $1.5B | ||
| Q3 25 | $2.3B | $1.2B | ||
| Q2 25 | $2.4B | $1.3B | ||
| Q1 25 | $2.3B | $1.3B | ||
| Q4 24 | $2.2B | $1.5B | ||
| Q3 24 | $2.0B | $1.5B | ||
| Q2 24 | $1.9B | $1.6B | ||
| Q1 24 | $1.8B | $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 | $444.4M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $440.8M | $-100.8M |
| 自由现金流率自由现金流/营收 | 179.0% | -48.6% |
| 资本支出强度资本支出/营收 | 1.5% | 0.5% |
| 现金转化率经营现金流/净利润 | 4.55× | — |
| 过去12个月自由现金流最近4个季度 | $771.4M | $-472.0M |
8季度趋势，按日历期对齐
经营现金流HCIRARE
| Q4 25 | $444.4M | $-99.8M | ||
| Q3 25 | $26.7M | $-91.4M | ||
| Q2 25 | $145.0M | $-108.3M | ||
| Q1 25 | $162.0M | $-166.5M | ||
| Q4 24 | $331.8M | $-79.3M | ||
| Q3 24 | $104.1M | $-67.0M | ||
| Q2 24 | $-29.0M | $-77.0M | ||
| Q1 24 | $182.0M | $-190.7M |
自由现金流HCIRARE
| Q4 25 | $440.8M | $-100.8M | ||
| Q3 25 | $25.9M | $-92.7M | ||
| Q2 25 | $144.5M | $-110.7M | ||
| Q1 25 | $160.3M | $-167.8M | ||
| Q4 24 | $327.8M | $-79.5M | ||
| Q3 24 | $103.2M | $-68.6M | ||
| Q2 24 | $-30.1M | $-79.0M | ||
| Q1 24 | $181.0M | $-193.9M |
自由现金流率HCIRARE
| Q4 25 | 179.0% | -48.6% | ||
| Q3 25 | 12.0% | -58.0% | ||
| Q2 25 | 65.1% | -66.5% | ||
| Q1 25 | 74.1% | -120.5% | ||
| Q4 24 | 202.5% | -48.3% | ||
| Q3 24 | 58.9% | -49.2% | ||
| Q2 24 | -14.6% | -53.7% | ||
| Q1 24 | 87.6% | -178.2% |
资本支出强度HCIRARE
| Q4 25 | 1.5% | 0.5% | ||
| Q3 25 | 0.4% | 0.8% | ||
| Q2 25 | 0.2% | 1.5% | ||
| Q1 25 | 0.8% | 1.0% | ||
| Q4 24 | 2.5% | 0.1% | ||
| Q3 24 | 0.5% | 1.2% | ||
| Q2 24 | 0.5% | 1.4% | ||
| Q1 24 | 0.5% | 3.0% |
现金转化率HCIRARE
| Q4 25 | 4.55× | — | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 2.19× | — | ||
| Q1 25 | 2.32× | — | ||
| Q4 24 | 128.41× | — | ||
| Q3 24 | 18.33× | — | ||
| Q2 24 | -0.54× | — | ||
| Q1 24 | 3.82× | — |
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
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
