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Hilltop Holdings Inc.（HTH）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
Hilltop Holdings Inc.的季度营收约是Ultragenyx Pharmaceutical Inc.的1.4倍（$300.5M vs $207.3M），Hilltop Holdings Inc.净利率更高（13.0% vs -62.0%，领先75.0%），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 0.6%）
Hilltop Holdings Inc.是总部位于美国得克萨斯州达拉斯的金融控股公司，旗下拥有PlainsCapital Bank、PrimeLending与HilltopSecurities三大核心子公司，为客户提供多元金融产品及银行相关服务。
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。
HTH vs RARE — 直观对比
营收规模更大
HTH
是对方的1.4倍
$207.3M
净利率更高
HTH
高出75.0%
-62.0%
两年增速更快
RARE
近两年复合增速
0.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $300.5M | $207.3M |
| 净利润 | $39.0M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | — | -54.7% |
| 净利率 | 13.0% | -62.0% |
| 营收同比 | — | 25.9% |
| 净利润同比 | -12.4% | 3.5% |
| 每股收益（稀释后） | $0.64 | $-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HTHRARE
| Q1 26 | $300.5M | — | ||
| Q4 25 | $329.9M | $207.3M | ||
| Q3 25 | $330.2M | $159.9M | ||
| Q2 25 | $303.3M | $166.5M | ||
| Q1 25 | $318.5M | $139.3M | ||
| Q4 24 | $301.1M | $164.6M | ||
| Q3 24 | $305.5M | $139.5M | ||
| Q2 24 | $297.0M | $147.0M |
净利润HTHRARE
| Q1 26 | $39.0M | — | ||
| Q4 25 | $41.6M | $-128.6M | ||
| Q3 25 | $45.8M | $-180.4M | ||
| Q2 25 | $36.1M | $-115.0M | ||
| Q1 25 | $42.1M | $-151.1M | ||
| Q4 24 | $35.5M | $-133.2M | ||
| Q3 24 | $29.7M | $-133.5M | ||
| Q2 24 | $20.3M | $-131.6M |
营业利润率HTHRARE
| Q1 26 | — | — | ||
| Q4 25 | 16.1% | -54.7% | ||
| Q3 25 | 18.4% | -106.9% | ||
| Q2 25 | 16.3% | -64.8% | ||
| Q1 25 | 18.1% | -102.6% | ||
| Q4 24 | 14.7% | -74.3% | ||
| Q3 24 | 13.9% | -94.6% | ||
| Q2 24 | 10.0% | -79.1% |
净利率HTHRARE
| Q1 26 | 13.0% | — | ||
| Q4 25 | 12.6% | -62.0% | ||
| Q3 25 | 13.9% | -112.8% | ||
| Q2 25 | 11.9% | -69.0% | ||
| Q1 25 | 13.2% | -108.5% | ||
| Q4 24 | 11.8% | -80.9% | ||
| Q3 24 | 9.7% | -95.7% | ||
| Q2 24 | 6.8% | -89.5% |
每股收益（稀释后）HTHRARE
| Q1 26 | $0.64 | — | ||
| Q4 25 | $0.68 | $-1.28 | ||
| Q3 25 | $0.74 | $-1.81 | ||
| Q2 25 | $0.57 | $-1.17 | ||
| Q1 25 | $0.65 | $-1.57 | ||
| Q4 24 | $0.55 | $-1.34 | ||
| Q3 24 | $0.46 | $-1.40 | ||
| Q2 24 | $0.31 | $-1.52 |
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 | — | $421.0M |
| 总债务越低越好 | $990.8M | — |
| 股东权益账面价值 | $2.2B | $-80.0M |
| 总资产 | $15.7B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.46× | — |
8季度趋势，按日历期对齐
现金及短期投资HTHRARE
| Q1 26 | — | — | ||
| Q4 25 | — | $421.0M | ||
| Q3 25 | — | $202.5M | ||
| Q2 25 | — | $176.3M | ||
| Q1 25 | — | $127.1M | ||
| Q4 24 | — | $174.0M | ||
| Q3 24 | — | $150.6M | ||
| Q2 24 | — | $480.7M |
总债务HTHRARE
| Q1 26 | $990.8M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益HTHRARE
| Q1 26 | $2.2B | — | ||
| Q4 25 | $2.2B | $-80.0M | ||
| Q3 25 | $2.2B | $9.2M | ||
| Q2 25 | $2.2B | $151.3M | ||
| Q1 25 | $2.2B | $144.2M | ||
| Q4 24 | $2.2B | $255.0M | ||
| Q3 24 | $2.2B | $346.8M | ||
| Q2 24 | $2.1B | $432.4M |
总资产HTHRARE
| Q1 26 | $15.7B | — | ||
| Q4 25 | $15.8B | $1.5B | ||
| Q3 25 | $15.6B | $1.2B | ||
| Q2 25 | $15.4B | $1.3B | ||
| Q1 25 | $15.8B | $1.3B | ||
| Q4 24 | $16.3B | $1.5B | ||
| Q3 24 | $15.9B | $1.5B | ||
| Q2 24 | $15.6B | $1.6B |
负债/权益比HTHRARE
| Q1 26 | 0.46× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $-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 | — | — |
| 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HTHRARE
| Q1 26 | — | — | ||
| Q4 25 | $-38.7M | $-99.8M | ||
| Q3 25 | $273.0M | $-91.4M | ||
| Q2 25 | $-234.6M | $-108.3M | ||
| Q1 25 | $5.8M | $-166.5M | ||
| Q4 24 | $273.9M | $-79.3M | ||
| Q3 24 | $515.6M | $-67.0M | ||
| Q2 24 | $-435.3M | $-77.0M |
自由现金流HTHRARE
| Q1 26 | — | — | ||
| Q4 25 | $-55.5M | $-100.8M | ||
| Q3 25 | $271.0M | $-92.7M | ||
| Q2 25 | $-234.6M | $-110.7M | ||
| Q1 25 | $5.0M | $-167.8M | ||
| Q4 24 | $266.8M | $-79.5M | ||
| Q3 24 | $513.8M | $-68.6M | ||
| Q2 24 | $-437.3M | $-79.0M |
自由现金流率HTHRARE
| Q1 26 | — | — | ||
| Q4 25 | -16.8% | -48.6% | ||
| Q3 25 | 82.1% | -58.0% | ||
| Q2 25 | -77.4% | -66.5% | ||
| Q1 25 | 1.6% | -120.5% | ||
| Q4 24 | 88.6% | -48.3% | ||
| Q3 24 | 168.2% | -49.2% | ||
| Q2 24 | -147.2% | -53.7% |
资本支出强度HTHRARE
| Q1 26 | — | — | ||
| Q4 25 | 5.1% | 0.5% | ||
| Q3 25 | 0.6% | 0.8% | ||
| Q2 25 | 0.0% | 1.5% | ||
| Q1 25 | 0.3% | 1.0% | ||
| Q4 24 | 2.4% | 0.1% | ||
| Q3 24 | 0.6% | 1.2% | ||
| Q2 24 | 0.7% | 1.4% |
现金转化率HTHRARE
| Q1 26 | — | — | ||
| Q4 25 | -0.93× | — | ||
| Q3 25 | 5.96× | — | ||
| Q2 25 | -6.50× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 7.71× | — | ||
| Q3 24 | 17.36× | — | ||
| Q2 24 | -21.41× | — |
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
HTH
| Noninterest Income | $188.4M | 63% |
| Net Interest Income | $112.1M | 37% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
