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IMAX（IMAX）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IMAX的1.7倍（$207.3M vs $125.2M），IMAX净利率更高（0.5% vs -62.0%，领先62.5%），IMAX同比增速更快（35.1% vs 25.9%），IMAX自由现金流更多（$28.0M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 25.8%）
IMAX公司是加拿大的影视放映技术企业，1967年创立于蒙特利尔，总部位于多伦多地区，在纽约、洛杉矶均设有业务点。核心业务包括IMAX摄影机与放映系统的设计制造，同时面向全球合作影院提供影片开发、制作、后期及发行服务，是沉浸式观影技术领域的领先企业。
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。
IMAX vs RARE — 直观对比
营收规模更大
RARE
是对方的1.7倍
$125.2M
营收增速更快
IMAX
高出9.2%
25.9%
净利率更高
IMAX
高出62.5%
-62.0%
自由现金流更多
IMAX
多$128.7M
$-100.8M
两年增速更快
RARE
近两年复合增速
25.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $125.2M | $207.3M |
| 净利润 | $637.0K | $-128.6M |
| 毛利率 | 57.6% | — |
| 营业利润率 | 19.3% | -54.7% |
| 净利率 | 0.5% | -62.0% |
| 营收同比 | 35.1% | 25.9% |
| 净利润同比 | -88.0% | 3.5% |
| 每股收益（稀释后） | $0.02 | $-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IMAXRARE
| Q4 25 | $125.2M | $207.3M | ||
| Q3 25 | $106.7M | $159.9M | ||
| Q2 25 | $91.7M | $166.5M | ||
| Q1 25 | $86.7M | $139.3M | ||
| Q4 24 | $92.7M | $164.6M | ||
| Q3 24 | $91.5M | $139.5M | ||
| Q2 24 | $89.0M | $147.0M | ||
| Q1 24 | $79.1M | $108.8M |
净利润IMAXRARE
| Q4 25 | $637.0K | $-128.6M | ||
| Q3 25 | $20.7M | $-180.4M | ||
| Q2 25 | $11.3M | $-115.0M | ||
| Q1 25 | $2.3M | $-151.1M | ||
| Q4 24 | $5.3M | $-133.2M | ||
| Q3 24 | $13.9M | $-133.5M | ||
| Q2 24 | $3.6M | $-131.6M | ||
| Q1 24 | $3.3M | $-170.7M |
毛利率IMAXRARE
| Q4 25 | 57.6% | — | ||
| Q3 25 | 63.1% | — | ||
| Q2 25 | 58.5% | — | ||
| Q1 25 | 61.4% | — | ||
| Q4 24 | 52.2% | — | ||
| Q3 24 | 55.8% | — | ||
| Q2 24 | 49.4% | — | ||
| Q1 24 | 59.3% | — |
营业利润率IMAXRARE
| Q4 25 | 19.3% | -54.7% | ||
| Q3 25 | 27.2% | -106.9% | ||
| Q2 25 | 15.6% | -64.8% | ||
| Q1 25 | 19.3% | -102.6% | ||
| Q4 24 | 10.3% | -74.3% | ||
| Q3 24 | 21.2% | -94.6% | ||
| Q2 24 | 3.2% | -79.1% | ||
| Q1 24 | 15.3% | -151.9% |
净利率IMAXRARE
| Q4 25 | 0.5% | -62.0% | ||
| Q3 25 | 19.4% | -112.8% | ||
| Q2 25 | 12.3% | -69.0% | ||
| Q1 25 | 2.7% | -108.5% | ||
| Q4 24 | 5.7% | -80.9% | ||
| Q3 24 | 15.2% | -95.7% | ||
| Q2 24 | 4.0% | -89.5% | ||
| Q1 24 | 4.1% | -156.8% |
每股收益（稀释后）IMAXRARE
| Q4 25 | $0.02 | $-1.28 | ||
| Q3 25 | $0.37 | $-1.81 | ||
| Q2 25 | $0.20 | $-1.17 | ||
| Q1 25 | $0.04 | $-1.57 | ||
| Q4 24 | $0.09 | $-1.34 | ||
| Q3 24 | $0.26 | $-1.40 | ||
| Q2 24 | $0.07 | $-1.52 | ||
| Q1 24 | $0.06 | $-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 | $151.2M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $337.9M | $-80.0M |
| 总资产 | $894.0M | $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IMAXRARE
| Q4 25 | $151.2M | $421.0M | ||
| Q3 25 | $143.1M | $202.5M | ||
| Q2 25 | $109.3M | $176.3M | ||
| Q1 25 | $97.1M | $127.1M | ||
| Q4 24 | $100.6M | $174.0M | ||
| Q3 24 | $104.5M | $150.6M | ||
| Q2 24 | $91.6M | $480.7M | ||
| Q1 24 | $81.0M | $112.3M |
股东权益IMAXRARE
| Q4 25 | $337.9M | $-80.0M | ||
| Q3 25 | $349.5M | $9.2M | ||
| Q2 25 | $320.4M | $151.3M | ||
| Q1 25 | $299.5M | $144.2M | ||
| Q4 24 | $299.5M | $255.0M | ||
| Q3 24 | $289.4M | $346.8M | ||
| Q2 24 | $267.2M | $432.4M | ||
| Q1 24 | $258.8M | $140.3M |
总资产IMAXRARE
| Q4 25 | $894.0M | $1.5B | ||
| Q3 25 | $889.6M | $1.2B | ||
| Q2 25 | $868.6M | $1.3B | ||
| Q1 25 | $848.3M | $1.3B | ||
| Q4 24 | $830.4M | $1.5B | ||
| Q3 24 | $847.6M | $1.5B | ||
| Q2 24 | $827.4M | $1.6B | ||
| Q1 24 | $824.1M | $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 | $29.4M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $28.0M | $-100.8M |
| 自由现金流率自由现金流/营收 | 22.3% | -48.6% |
| 资本支出强度资本支出/营收 | 1.1% | 0.5% |
| 现金转化率经营现金流/净利润 | 46.11× | — |
| 过去12个月自由现金流最近4个季度 | $118.9M | $-472.0M |
8季度趋势，按日历期对齐
经营现金流IMAXRARE
| Q4 25 | $29.4M | $-99.8M | ||
| Q3 25 | $67.5M | $-91.4M | ||
| Q2 25 | $23.2M | $-108.3M | ||
| Q1 25 | $7.0M | $-166.5M | ||
| Q4 24 | $11.5M | $-79.3M | ||
| Q3 24 | $35.3M | $-67.0M | ||
| Q2 24 | $35.0M | $-77.0M | ||
| Q1 24 | $-11.0M | $-190.7M |
自由现金流IMAXRARE
| Q4 25 | $28.0M | $-100.8M | ||
| Q3 25 | $64.8M | $-92.7M | ||
| Q2 25 | $20.9M | $-110.7M | ||
| Q1 25 | $5.3M | $-167.8M | ||
| Q4 24 | $6.9M | $-79.5M | ||
| Q3 24 | $34.2M | $-68.6M | ||
| Q2 24 | $33.5M | $-79.0M | ||
| Q1 24 | $-12.1M | $-193.9M |
自由现金流率IMAXRARE
| Q4 25 | 22.3% | -48.6% | ||
| Q3 25 | 60.7% | -58.0% | ||
| Q2 25 | 22.8% | -66.5% | ||
| Q1 25 | 6.1% | -120.5% | ||
| Q4 24 | 7.4% | -48.3% | ||
| Q3 24 | 37.3% | -49.2% | ||
| Q2 24 | 37.6% | -53.7% | ||
| Q1 24 | -15.3% | -178.2% |
资本支出强度IMAXRARE
| Q4 25 | 1.1% | 0.5% | ||
| Q3 25 | 2.6% | 0.8% | ||
| Q2 25 | 2.6% | 1.5% | ||
| Q1 25 | 1.9% | 1.0% | ||
| Q4 24 | 5.0% | 0.1% | ||
| Q3 24 | 1.2% | 1.2% | ||
| Q2 24 | 1.8% | 1.4% | ||
| Q1 24 | 1.4% | 3.0% |
现金转化率IMAXRARE
| Q4 25 | 46.11× | — | ||
| Q3 25 | 3.27× | — | ||
| Q2 25 | 2.06× | — | ||
| Q1 25 | 2.99× | — | ||
| Q4 24 | 2.16× | — | ||
| Q3 24 | 2.54× | — | ||
| Q2 24 | 9.78× | — | ||
| Q1 24 | -3.35× | — |
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
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
