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IONIS PHARMACEUTICALS INC（IONS）与Pacira BioSciences, Inc.（PCRX）财务数据对比。点击上方公司名可切换其他公司
IONIS PHARMACEUTICALS INC的季度营收约是Pacira BioSciences, Inc.的1.0倍（$203.3M vs $196.9M），Pacira BioSciences, Inc.同比增速更快（5.1% vs -10.3%），Pacira BioSciences, Inc.自由现金流更多（$43.5M vs $-159.0M），过去两年IONIS PHARMACEUTICALS INC的营收复合增速更高（30.4% vs 8.5%）
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。
Pacira BioSciences是一家专科制药企业，专注于非阿片类疼痛管理药物的研发与商业化，核心产品线面向术后镇痛场景，服务以美国为主的医院、门诊手术中心等医疗服务机构，同时推进部分国际市场的拓展工作。
IONS vs PCRX — 直观对比
营收规模更大
IONS
是对方的1.0倍
$196.9M
营收增速更快
PCRX
高出15.4%
-10.3%
自由现金流更多
PCRX
多$202.5M
$-159.0M
两年增速更快
IONS
近两年复合增速
8.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $203.3M | $196.9M |
| 净利润 | $-229.4M | — |
| 毛利率 | 96.1% | 79.5% |
| 营业利润率 | -105.5% | 1.2% |
| 净利率 | -112.8% | — |
| 营收同比 | -10.3% | 5.1% |
| 净利润同比 | -119.8% | — |
| 每股收益（稀释后） | $-1.35 | $0.05 |
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IONSPCRX
| Q4 25 | $203.3M | $196.9M | ||
| Q3 25 | $156.7M | $179.5M | ||
| Q2 25 | $452.0M | $181.1M | ||
| Q1 25 | $131.6M | $168.9M | ||
| Q4 24 | $226.6M | $187.3M | ||
| Q3 24 | $133.8M | $168.6M | ||
| Q2 24 | $225.3M | $178.0M | ||
| Q1 24 | $119.5M | $167.1M |
净利润IONSPCRX
| Q4 25 | $-229.4M | — | ||
| Q3 25 | $-128.6M | $5.4M | ||
| Q2 25 | $123.6M | $-4.8M | ||
| Q1 25 | $-146.9M | $4.8M | ||
| Q4 24 | $-104.3M | — | ||
| Q3 24 | $-140.5M | $-143.5M | ||
| Q2 24 | $-66.3M | $18.9M | ||
| Q1 24 | $-142.8M | $9.0M |
毛利率IONSPCRX
| Q4 25 | 96.1% | 79.5% | ||
| Q3 25 | 98.5% | 80.9% | ||
| Q2 25 | 99.1% | 77.4% | ||
| Q1 25 | 98.9% | 79.7% | ||
| Q4 24 | 98.3% | 78.7% | ||
| Q3 24 | 99.2% | 76.9% | ||
| Q2 24 | 98.2% | 75.1% | ||
| Q1 24 | 98.2% | 71.6% |
营业利润率IONSPCRX
| Q4 25 | -105.5% | 1.2% | ||
| Q3 25 | -102.2% | 3.5% | ||
| Q2 25 | 30.9% | 4.7% | ||
| Q1 25 | -111.6% | 1.2% | ||
| Q4 24 | -48.9% | 13.2% | ||
| Q3 24 | -111.1% | -82.8% | ||
| Q2 24 | -29.3% | 15.9% | ||
| Q1 24 | -125.1% | 7.9% |
净利率IONSPCRX
| Q4 25 | -112.8% | — | ||
| Q3 25 | -82.1% | 3.0% | ||
| Q2 25 | 27.3% | -2.7% | ||
| Q1 25 | -111.6% | 2.8% | ||
| Q4 24 | -46.1% | — | ||
| Q3 24 | -105.0% | -85.1% | ||
| Q2 24 | -29.4% | 10.6% | ||
| Q1 24 | -119.5% | 5.4% |
每股收益（稀释后）IONSPCRX
| Q4 25 | $-1.35 | $0.05 | ||
| Q3 25 | $-0.80 | $0.12 | ||
| Q2 25 | $0.70 | $-0.11 | ||
| Q1 25 | $-0.93 | $0.10 | ||
| Q4 24 | $-0.66 | $0.38 | ||
| Q3 24 | $-0.95 | $-3.11 | ||
| Q2 24 | $-0.45 | $0.39 | ||
| Q1 24 | $-0.98 | $0.19 |
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 | $238.4M |
| 总债务越低越好 | $1.8B | $372.2M |
| 股东权益账面价值 | $489.1M | $693.1M |
| 总资产 | $3.5B | $1.3B |
| 负债/权益比越低杠杆越低 | 3.71× | 0.54× |
8季度趋势，按日历期对齐
现金及短期投资IONSPCRX
| Q4 25 | $2.7B | $238.4M | ||
| Q3 25 | $2.2B | $246.3M | ||
| Q2 25 | $2.3B | $445.9M | ||
| Q1 25 | $2.1B | $493.6M | ||
| Q4 24 | $2.3B | $484.6M | ||
| Q3 24 | $2.5B | $453.8M | ||
| Q2 24 | $2.1B | $404.2M | ||
| Q1 24 | $2.2B | $325.9M |
总债务IONSPCRX
| Q4 25 | $1.8B | $372.2M | ||
| Q3 25 | — | $376.7M | ||
| Q2 25 | — | $580.5M | ||
| Q1 25 | — | $583.4M | ||
| Q4 24 | $1.3B | $585.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IONSPCRX
| Q4 25 | $489.1M | $693.1M | ||
| Q3 25 | $618.0M | $727.2M | ||
| Q2 25 | $631.7M | $757.8M | ||
| Q1 25 | $475.7M | $798.5M | ||
| Q4 24 | $588.4M | $778.3M | ||
| Q3 24 | $662.5M | $749.6M | ||
| Q2 24 | $263.7M | $879.3M | ||
| Q1 24 | $296.5M | $892.2M |
总资产IONSPCRX
| Q4 25 | $3.5B | $1.3B | ||
| Q3 25 | $3.0B | $1.3B | ||
| Q2 25 | $3.0B | $1.5B | ||
| Q1 25 | $2.8B | $1.6B | ||
| Q4 24 | $3.0B | $1.6B | ||
| Q3 24 | $3.1B | $1.5B | ||
| Q2 24 | $2.7B | $1.6B | ||
| Q1 24 | $2.8B | $1.6B |
负债/权益比IONSPCRX
| Q4 25 | 3.71× | 0.54× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | — | 0.77× | ||
| Q1 25 | — | 0.73× | ||
| Q4 24 | 2.13× | 0.75× | ||
| 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 | $43.7M |
| 自由现金流经营现金流 - 资本支出 | $-159.0M | $43.5M |
| 自由现金流率自由现金流/营收 | -78.2% | 22.1% |
| 资本支出强度资本支出/营收 | 10.5% | 0.1% |
| 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 | $136.7M |
8季度趋势，按日历期对齐
经营现金流IONSPCRX
| Q4 25 | $-137.7M | $43.7M | ||
| Q3 25 | $-131.4M | $60.8M | ||
| Q2 25 | $151.3M | $12.0M | ||
| Q1 25 | $-150.8M | $35.5M | ||
| Q4 24 | $-116.1M | $33.1M | ||
| Q3 24 | $-115.0M | $53.9M | ||
| Q2 24 | $-119.9M | $53.2M | ||
| Q1 24 | $-149.9M | $49.1M |
自由现金流IONSPCRX
| Q4 25 | $-159.0M | $43.5M | ||
| Q3 25 | $-136.7M | $57.0M | ||
| Q2 25 | $139.0M | $9.3M | ||
| Q1 25 | $-163.4M | $26.9M | ||
| Q4 24 | $-141.6M | $31.0M | ||
| Q3 24 | $-124.0M | $49.8M | ||
| Q2 24 | $-126.1M | $51.6M | ||
| Q1 24 | $-154.4M | $46.3M |
自由现金流率IONSPCRX
| Q4 25 | -78.2% | 22.1% | ||
| Q3 25 | -87.2% | 31.7% | ||
| Q2 25 | 30.8% | 5.1% | ||
| Q1 25 | -124.1% | 15.9% | ||
| Q4 24 | -62.5% | 16.6% | ||
| Q3 24 | -92.7% | 29.6% | ||
| Q2 24 | -56.0% | 29.0% | ||
| Q1 24 | -129.2% | 27.7% |
资本支出强度IONSPCRX
| Q4 25 | 10.5% | 0.1% | ||
| Q3 25 | 3.4% | 2.2% | ||
| Q2 25 | 2.7% | 1.5% | ||
| Q1 25 | 9.6% | 5.1% | ||
| Q4 24 | 11.3% | 1.1% | ||
| Q3 24 | 6.8% | 2.4% | ||
| Q2 24 | 2.8% | 0.9% | ||
| Q1 24 | 3.8% | 1.7% |
现金转化率IONSPCRX
| Q4 25 | — | — | ||
| Q3 25 | — | 11.20× | ||
| Q2 25 | 1.22× | — | ||
| Q1 25 | — | 7.37× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.82× | ||
| Q1 24 | — | 5.47× |
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% |
PCRX
| EXPAREL | $155.8M | 79% |
| ZILRETTA | $33.0M | 17% |
| Iovera | $7.0M | 4% |
