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IONIS PHARMACEUTICALS INC（IONS）与PROCORE TECHNOLOGIES, INC.（PCOR）财务数据对比。点击上方公司名可切换其他公司
PROCORE TECHNOLOGIES, INC.的季度营收约是IONIS PHARMACEUTICALS INC的1.7倍（$349.1M vs $203.3M），PROCORE TECHNOLOGIES, INC.净利率更高（-10.8% vs -112.8%，领先102.0%），PROCORE TECHNOLOGIES, INC.同比增速更快（15.6% vs -10.3%），PROCORE TECHNOLOGIES, INC.自由现金流更多（$109.2M vs $-159.0M），过去两年IONIS PHARMACEUTICALS INC的营收复合增速更高（30.4% vs 13.8%）
IONIS制药是1989年成立的生物科技企业，总部位于美国加利福尼亚州卡尔斯巴德，专注于反义疗法、RNA干扰及CRISPR疗法的研发，2015年12月前曾以Isis制药的名称运营。
Procore Technologies是2002年成立的美国建筑管理软件即服务（SaaS）企业，总部位于加利福尼亚州卡平特里亚。公司打造的全球平台可连接建筑行业从业者，支持搭建简化工作流，统一展现建筑项目信息，覆盖任务追踪、项目流程管理、日程排期等核心功能。
IONS vs PCOR — 直观对比
营收规模更大
PCOR
是对方的1.7倍
$203.3M
营收增速更快
PCOR
高出25.8%
-10.3%
净利率更高
PCOR
高出102.0%
-112.8%
自由现金流更多
PCOR
多$268.2M
$-159.0M
两年增速更快
IONS
近两年复合增速
13.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $203.3M | $349.1M |
| 净利润 | $-229.4M | $-37.6M |
| 毛利率 | 96.1% | 80.1% |
| 营业利润率 | -105.5% | -12.3% |
| 净利率 | -112.8% | -10.8% |
| 营收同比 | -10.3% | 15.6% |
| 净利润同比 | -119.8% | 39.6% |
| 每股收益（稀释后） | $-1.35 | $-0.25 |
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IONSPCOR
| Q4 25 | $203.3M | $349.1M | ||
| Q3 25 | $156.7M | $338.9M | ||
| Q2 25 | $452.0M | $323.9M | ||
| Q1 25 | $131.6M | $310.6M | ||
| Q4 24 | $226.6M | $302.0M | ||
| Q3 24 | $133.8M | $295.9M | ||
| Q2 24 | $225.3M | $284.3M | ||
| Q1 24 | $119.5M | $269.4M |
净利润IONSPCOR
| Q4 25 | $-229.4M | $-37.6M | ||
| Q3 25 | $-128.6M | $-9.1M | ||
| Q2 25 | $123.6M | $-21.1M | ||
| Q1 25 | $-146.9M | $-33.0M | ||
| Q4 24 | $-104.3M | $-62.3M | ||
| Q3 24 | $-140.5M | $-26.4M | ||
| Q2 24 | $-66.3M | $-6.3M | ||
| Q1 24 | $-142.8M | $-11.0M |
毛利率IONSPCOR
| Q4 25 | 96.1% | 80.1% | ||
| Q3 25 | 98.5% | 79.7% | ||
| Q2 25 | 99.1% | 79.1% | ||
| Q1 25 | 98.9% | 79.1% | ||
| Q4 24 | 98.3% | 81.2% | ||
| Q3 24 | 99.2% | 81.4% | ||
| Q2 24 | 98.2% | 83.1% | ||
| Q1 24 | 98.2% | 83.0% |
营业利润率IONSPCOR
| Q4 25 | -105.5% | -12.3% | ||
| Q3 25 | -102.2% | -4.4% | ||
| Q2 25 | 30.9% | -9.3% | ||
| Q1 25 | -111.6% | -11.7% | ||
| Q4 24 | -48.9% | -21.9% | ||
| Q3 24 | -111.1% | -12.3% | ||
| Q2 24 | -29.3% | -5.2% | ||
| Q1 24 | -125.1% | -7.0% |
净利率IONSPCOR
| Q4 25 | -112.8% | -10.8% | ||
| Q3 25 | -82.1% | -2.7% | ||
| Q2 25 | 27.3% | -6.5% | ||
| Q1 25 | -111.6% | -10.6% | ||
| Q4 24 | -46.1% | -20.6% | ||
| Q3 24 | -105.0% | -8.9% | ||
| Q2 24 | -29.4% | -2.2% | ||
| Q1 24 | -119.5% | -4.1% |
每股收益（稀释后）IONSPCOR
| Q4 25 | $-1.35 | $-0.25 | ||
| Q3 25 | $-0.80 | $-0.06 | ||
| Q2 25 | $0.70 | $-0.14 | ||
| Q1 25 | $-0.93 | $-0.22 | ||
| Q4 24 | $-0.66 | $-0.42 | ||
| Q3 24 | $-0.95 | $-0.18 | ||
| Q2 24 | $-0.45 | $-0.04 | ||
| Q1 24 | $-0.98 | $-0.08 |
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 | $2.7B | $768.5M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $489.1M | $1.3B |
| 总资产 | $3.5B | $2.2B |
| 负债/权益比越低杠杆越低 | 3.71× | — |
8季度趋势，按日历期对齐
现金及短期投资IONSPCOR
| Q4 25 | $2.7B | $768.5M | ||
| Q3 25 | $2.2B | $684.0M | ||
| Q2 25 | $2.3B | $620.9M | ||
| Q1 25 | $2.1B | $566.7M | ||
| Q4 24 | $2.3B | $775.4M | ||
| Q3 24 | $2.5B | $756.9M | ||
| Q2 24 | $2.1B | $735.4M | ||
| Q1 24 | $2.2B | $744.6M |
总债务IONSPCOR
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IONSPCOR
| Q4 25 | $489.1M | $1.3B | ||
| Q3 25 | $618.0M | $1.2B | ||
| Q2 25 | $631.7M | $1.2B | ||
| Q1 25 | $475.7M | $1.2B | ||
| Q4 24 | $588.4M | $1.3B | ||
| Q3 24 | $662.5M | $1.3B | ||
| Q2 24 | $263.7M | $1.3B | ||
| Q1 24 | $296.5M | $1.2B |
总资产IONSPCOR
| Q4 25 | $3.5B | $2.2B | ||
| Q3 25 | $3.0B | $2.1B | ||
| Q2 25 | $3.0B | $2.0B | ||
| Q1 25 | $2.8B | $1.9B | ||
| Q4 24 | $3.0B | $2.1B | ||
| Q3 24 | $3.1B | $2.0B | ||
| Q2 24 | $2.7B | $2.0B | ||
| Q1 24 | $2.8B | $1.9B |
负债/权益比IONSPCOR
| Q4 25 | 3.71× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.13× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $-137.7M | $114.9M |
| 自由现金流经营现金流 - 资本支出 | $-159.0M | $109.2M |
| 自由现金流率自由现金流/营收 | -78.2% | 31.3% |
| 资本支出强度资本支出/营收 | 10.5% | 1.6% |
| 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 | $-320.0M | $282.2M |
8季度趋势，按日历期对齐
经营现金流IONSPCOR
| Q4 25 | $-137.7M | $114.9M | ||
| Q3 25 | $-131.4M | $88.5M | ||
| Q2 25 | $151.3M | $30.8M | ||
| Q1 25 | $-150.8M | $66.0M | ||
| Q4 24 | $-116.1M | $29.1M | ||
| Q3 24 | $-115.0M | $39.3M | ||
| Q2 24 | $-119.9M | $58.7M | ||
| Q1 24 | $-149.9M | $69.1M |
自由现金流IONSPCOR
| Q4 25 | $-159.0M | $109.2M | ||
| Q3 25 | $-136.7M | $83.1M | ||
| Q2 25 | $139.0M | $27.9M | ||
| Q1 25 | $-163.4M | $62.0M | ||
| Q4 24 | $-141.6M | $17.4M | ||
| Q3 24 | $-124.0M | $35.7M | ||
| Q2 24 | $-126.1M | $56.8M | ||
| Q1 24 | $-154.4M | $67.1M |
自由现金流率IONSPCOR
| Q4 25 | -78.2% | 31.3% | ||
| Q3 25 | -87.2% | 24.5% | ||
| Q2 25 | 30.8% | 8.6% | ||
| Q1 25 | -124.1% | 20.0% | ||
| Q4 24 | -62.5% | 5.8% | ||
| Q3 24 | -92.7% | 12.1% | ||
| Q2 24 | -56.0% | 20.0% | ||
| Q1 24 | -129.2% | 24.9% |
资本支出强度IONSPCOR
| Q4 25 | 10.5% | 1.6% | ||
| Q3 25 | 3.4% | 1.6% | ||
| Q2 25 | 2.7% | 0.9% | ||
| Q1 25 | 9.6% | 1.3% | ||
| Q4 24 | 11.3% | 3.9% | ||
| Q3 24 | 6.8% | 1.2% | ||
| Q2 24 | 2.8% | 0.7% | ||
| Q1 24 | 3.8% | 0.8% |
现金转化率IONSPCOR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
IONS
| Products | $58.0M | 29% |
| Spinraza Royalties | $54.0M | 27% |
| Collaborative Agreement Revenue | $52.4M | 26% |
| Wainus Royalties | $16.0M | 8% |
| Wainua Joint Development Revenue | $9.6M | 5% |
| Other Commercial | $7.6M | 4% |
| Other Royalties | $5.7M | 3% |
PCOR
| US | $298.3M | 85% |
| Non Us | $50.9M | 15% |
