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HIGHWOODS PROPERTIES, INC.（HIW）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HIGHWOODS PROPERTIES, INC.的1.0倍（$207.3M vs $203.4M），HIGHWOODS PROPERTIES, INC.净利率更高（14.6% vs -62.0%，领先76.6%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -1.1%），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -1.9%）
Highwoods Properties是一家公开上市的房地产投资信托公司，主要在美国东南部和大西洋中部地区的高速增长大都会区持有、开发、收购和管理优质办公物业，服务的企业租户覆盖科技、医疗、金融、专业服务等多元行业领域。
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。
HIW vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $203.4M | $207.3M |
| 净利润 | $29.7M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | 67.2% | -54.7% |
| 净利率 | 14.6% | -62.0% |
| 营收同比 | -1.1% | 25.9% |
| 净利润同比 | 1029.4% | 3.5% |
| 每股收益（稀释后） | $0.25 | $-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 | $203.4M | $207.3M | ||
| Q3 25 | $201.8M | $159.9M | ||
| Q2 25 | $200.6M | $166.5M | ||
| Q1 25 | $200.4M | $139.3M | ||
| Q4 24 | $205.5M | $164.6M | ||
| Q3 24 | $204.3M | $139.5M | ||
| Q2 24 | $204.7M | $147.0M | ||
| Q1 24 | $211.3M | $108.8M |
| Q4 25 | $29.7M | $-128.6M | ||
| Q3 25 | $13.7M | $-180.4M | ||
| Q2 25 | $19.2M | $-115.0M | ||
| Q1 25 | $100.0M | $-151.1M | ||
| Q4 24 | $-3.2M | $-133.2M | ||
| Q3 24 | $15.5M | $-133.5M | ||
| Q2 24 | $64.8M | $-131.6M | ||
| Q1 24 | $27.2M | $-170.7M |
| Q4 25 | 67.2% | -54.7% | ||
| Q3 25 | 67.3% | -106.9% | ||
| Q2 25 | 68.3% | -64.8% | ||
| Q1 25 | 67.5% | -102.6% | ||
| Q4 24 | 65.2% | -74.3% | ||
| Q3 24 | 67.8% | -94.6% | ||
| Q2 24 | 68.5% | -79.1% | ||
| Q1 24 | 66.7% | -151.9% |
| Q4 25 | 14.6% | -62.0% | ||
| Q3 25 | 6.8% | -112.8% | ||
| Q2 25 | 9.6% | -69.0% | ||
| Q1 25 | 49.9% | -108.5% | ||
| Q4 24 | -1.6% | -80.9% | ||
| Q3 24 | 7.6% | -95.7% | ||
| Q2 24 | 31.6% | -89.5% | ||
| Q1 24 | 12.9% | -156.8% |
| Q4 25 | $0.25 | $-1.28 | ||
| Q3 25 | $0.12 | $-1.81 | ||
| Q2 25 | $0.17 | $-1.17 | ||
| Q1 25 | $0.91 | $-1.57 | ||
| Q4 24 | $-0.04 | $-1.34 | ||
| Q3 24 | $0.14 | $-1.40 | ||
| Q2 24 | $0.59 | $-1.52 | ||
| Q1 24 | $0.25 | $-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 | $27.4M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.4B | $-80.0M |
| 总资产 | $6.3B | $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 | $27.4M | $421.0M | ||
| Q3 25 | $26.3M | $202.5M | ||
| Q2 25 | $21.2M | $176.3M | ||
| Q1 25 | $20.1M | $127.1M | ||
| Q4 24 | $22.4M | $174.0M | ||
| Q3 24 | $23.6M | $150.6M | ||
| Q2 24 | $27.0M | $480.7M | ||
| Q1 24 | $16.4M | $112.3M |
| Q4 25 | $2.4B | $-80.0M | ||
| Q3 25 | $2.4B | $9.2M | ||
| Q2 25 | $2.4B | $151.3M | ||
| Q1 25 | $2.4B | $144.2M | ||
| Q4 24 | $2.4B | $255.0M | ||
| Q3 24 | $2.4B | $346.8M | ||
| Q2 24 | $2.4B | $432.4M | ||
| Q1 24 | $2.4B | $140.3M |
| Q4 25 | $6.3B | $1.5B | ||
| Q3 25 | $6.1B | $1.2B | ||
| Q2 25 | $6.1B | $1.3B | ||
| Q1 25 | $6.1B | $1.3B | ||
| Q4 24 | $6.0B | $1.5B | ||
| Q3 24 | $6.0B | $1.5B | ||
| Q2 24 | $6.0B | $1.6B | ||
| Q1 24 | $6.0B | $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 | $359.2M | $-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 | 12.09× | — |
| 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 | $359.2M | $-99.8M | ||
| Q3 25 | $96.7M | $-91.4M | ||
| Q2 25 | $116.5M | $-108.3M | ||
| Q1 25 | $46.3M | $-166.5M | ||
| Q4 24 | $403.6M | $-79.3M | ||
| Q3 24 | $97.5M | $-67.0M | ||
| Q2 24 | $130.0M | $-77.0M | ||
| Q1 24 | $72.4M | $-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 | 12.09× | — | ||
| Q3 25 | 7.05× | — | ||
| Q2 25 | 6.06× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 6.30× | — | ||
| Q2 24 | 2.01× | — | ||
| Q1 24 | 2.66× | — |
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
HIW
| Raleigh NC | $45.6M | 22% |
| Nashville TN | $38.7M | 19% |
| Atlanta GA | $36.1M | 18% |
| Charlotte NC | $26.1M | 13% |
| Tampa FL | $22.2M | 11% |
| Orlando FL | $14.4M | 7% |
| Other | $11.4M | 6% |
| Richmond VA | $8.8M | 4% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
