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哈雷戴维森（HOG）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
哈雷戴维森的季度营收约是Ultragenyx Pharmaceutical Inc.的1.9倍（$390.5M vs $207.3M），Ultragenyx Pharmaceutical Inc.净利率更高（-62.0% vs -72.3%，领先10.3%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -9.4%），哈雷戴维森自由现金流更多（$100.4M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -48.6%）
哈雷戴维森是源自美国的摩托车制造商与生活方式品牌，总部位于威斯康星州密尔沃基，创立于1903年。它是大萧条时期幸存下来的两大美国摩托车厂商之一，历经多次股权变动、子公司调整、经营困境与全球竞争，如今已是全球知名的标志性品牌。
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。
HOG vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $390.5M | $207.3M |
| 净利润 | $-282.6M | $-128.6M |
| 毛利率 | -7.9% | — |
| 营业利润率 | -92.4% | -54.7% |
| 净利率 | -72.3% | -62.0% |
| 营收同比 | -9.4% | 25.9% |
| 净利润同比 | -138.6% | 3.5% |
| 每股收益（稀释后） | $-2.27 | $-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 | $390.5M | $207.3M | ||
| Q3 25 | $1.1B | $159.9M | ||
| Q2 25 | $1.0B | $166.5M | ||
| Q1 25 | $1.1B | $139.3M | ||
| Q4 24 | $430.9M | $164.6M | ||
| Q3 24 | $881.2M | $139.5M | ||
| Q2 24 | $1.4B | $147.0M | ||
| Q1 24 | $1.5B | $108.8M |
| Q4 25 | $-282.6M | $-128.6M | ||
| Q3 25 | $377.4M | $-180.4M | ||
| Q2 25 | $107.6M | $-115.0M | ||
| Q1 25 | $133.1M | $-151.1M | ||
| Q4 24 | $-118.4M | $-133.2M | ||
| Q3 24 | $119.0M | $-133.5M | ||
| Q2 24 | $218.3M | $-131.6M | ||
| Q1 24 | $234.9M | $-170.7M |
| Q4 25 | -7.9% | — | ||
| Q3 25 | 26.0% | — | ||
| Q2 25 | 28.5% | — | ||
| Q1 25 | 28.9% | — | ||
| Q4 24 | -2.0% | — | ||
| Q3 24 | 29.8% | — | ||
| Q2 24 | 31.8% | — | ||
| Q1 24 | 30.9% | — |
| Q4 25 | -92.4% | -54.7% | ||
| Q3 25 | 44.0% | -106.9% | ||
| Q2 25 | 10.7% | -64.8% | ||
| Q1 25 | 14.8% | -102.6% | ||
| Q4 24 | -44.9% | -74.3% | ||
| Q3 24 | 12.0% | -94.6% | ||
| Q2 24 | 17.8% | -79.1% | ||
| Q1 24 | 17.8% | -151.9% |
| Q4 25 | -72.3% | -62.0% | ||
| Q3 25 | 35.0% | -112.8% | ||
| Q2 25 | 10.2% | -69.0% | ||
| Q1 25 | 12.3% | -108.5% | ||
| Q4 24 | -27.5% | -80.9% | ||
| Q3 24 | 13.5% | -95.7% | ||
| Q2 24 | 16.1% | -89.5% | ||
| Q1 24 | 15.9% | -156.8% |
| Q4 25 | $-2.27 | $-1.28 | ||
| Q3 25 | $3.10 | $-1.81 | ||
| Q2 25 | $0.88 | $-1.17 | ||
| Q1 25 | $1.07 | $-1.57 | ||
| Q4 24 | $-0.82 | $-1.34 | ||
| Q3 24 | $0.91 | $-1.40 | ||
| Q2 24 | $1.63 | $-1.52 | ||
| Q1 24 | $1.72 | $-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 | $3.1B | $421.0M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $3.1B | $-80.0M |
| 总资产 | $8.0B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.79× | — |
8季度趋势，按日历期对齐
| Q4 25 | $3.1B | $421.0M | ||
| Q3 25 | $1.8B | $202.5M | ||
| Q2 25 | $1.6B | $176.3M | ||
| Q1 25 | $1.9B | $127.1M | ||
| Q4 24 | $1.6B | $174.0M | ||
| Q3 24 | $2.2B | $150.6M | ||
| Q2 24 | $1.8B | $480.7M | ||
| Q1 24 | $1.5B | $112.3M |
| Q4 25 | $2.5B | — | ||
| Q3 25 | $4.5B | — | ||
| Q2 25 | $6.4B | — | ||
| Q1 25 | $6.8B | — | ||
| Q4 24 | $6.3B | — | ||
| Q3 24 | $7.3B | — | ||
| Q2 24 | $7.0B | — | ||
| Q1 24 | $6.3B | — |
| Q4 25 | $3.1B | $-80.0M | ||
| Q3 25 | $3.6B | $9.2M | ||
| Q2 25 | $3.3B | $151.3M | ||
| Q1 25 | $3.2B | $144.2M | ||
| Q4 24 | $3.2B | $255.0M | ||
| Q3 24 | $3.4B | $346.8M | ||
| Q2 24 | $3.4B | $432.4M | ||
| Q1 24 | $3.3B | $140.3M |
| Q4 25 | $8.0B | $1.5B | ||
| Q3 25 | $10.6B | $1.2B | ||
| Q2 25 | $12.1B | $1.3B | ||
| Q1 25 | $12.4B | $1.3B | ||
| Q4 24 | $11.9B | $1.5B | ||
| Q3 24 | $13.0B | $1.5B | ||
| Q2 24 | $12.8B | $1.6B | ||
| Q1 24 | $12.3B | $1.3B |
| Q4 25 | 0.79× | — | ||
| Q3 25 | 1.25× | — | ||
| Q2 25 | 1.91× | — | ||
| Q1 25 | 2.14× | — | ||
| Q4 24 | 2.00× | — | ||
| Q3 24 | 2.13× | — | ||
| Q2 24 | 2.03× | — | ||
| Q1 24 | 1.88× | — |
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 | $152.0M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $100.4M | $-100.8M |
| 自由现金流率自由现金流/营收 | 25.7% | -48.6% |
| 资本支出强度资本支出/营收 | 13.2% | 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 | $415.2M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $152.0M | $-99.8M | ||
| Q3 25 | $-92.6M | $-91.4M | ||
| Q2 25 | $368.0M | $-108.3M | ||
| Q1 25 | $141.5M | $-166.5M | ||
| Q4 24 | $133.2M | $-79.3M | ||
| Q3 24 | $353.0M | $-67.0M | ||
| Q2 24 | $473.6M | $-77.0M | ||
| Q1 24 | $104.0M | $-190.7M |
| Q4 25 | $100.4M | $-100.8M | ||
| Q3 25 | $-129.1M | $-92.7M | ||
| Q2 25 | $332.4M | $-110.7M | ||
| Q1 25 | $111.6M | $-167.8M | ||
| Q4 24 | $77.0M | $-79.5M | ||
| Q3 24 | $300.4M | $-68.6M | ||
| Q2 24 | $432.2M | $-79.0M | ||
| Q1 24 | $57.6M | $-193.9M |
| Q4 25 | 25.7% | -48.6% | ||
| Q3 25 | -12.0% | -58.0% | ||
| Q2 25 | 31.7% | -66.5% | ||
| Q1 25 | 10.3% | -120.5% | ||
| Q4 24 | 17.9% | -48.3% | ||
| Q3 24 | 34.1% | -49.2% | ||
| Q2 24 | 31.9% | -53.7% | ||
| Q1 24 | 3.9% | -178.2% |
| Q4 25 | 13.2% | 0.5% | ||
| Q3 25 | 3.4% | 0.8% | ||
| Q2 25 | 3.4% | 1.5% | ||
| Q1 25 | 2.8% | 1.0% | ||
| Q4 24 | 13.0% | 0.1% | ||
| Q3 24 | 6.0% | 1.2% | ||
| Q2 24 | 3.1% | 1.4% | ||
| Q1 24 | 3.1% | 3.0% |
| Q4 25 | — | — | ||
| Q3 25 | -0.25× | — | ||
| Q2 25 | 3.42× | — | ||
| Q1 25 | 1.06× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.97× | — | ||
| Q2 24 | 2.17× | — | ||
| Q1 24 | 0.44× | — |
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
HOG
| Motorcycles | $193.9M | 50% |
| Other | $63.8M | 16% |
| Other Income Financial Services | $59.8M | 15% |
| Apparel | $47.2M | 12% |
| Livewire Segment | $11.4M | 3% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
