vs
IONIS PHARMACEUTICALS INC（IONS）与PROGRESS SOFTWARE CORP（PRGS）财务数据对比。点击上方公司名可切换其他公司
PROGRESS SOFTWARE CORP的季度营收约是IONIS PHARMACEUTICALS INC的1.2倍（$252.7M vs $203.3M），PROGRESS SOFTWARE CORP净利率更高（10.2% vs -112.8%，领先123.0%），PROGRESS SOFTWARE CORP同比增速更快（17.5% vs -10.3%），PROGRESS SOFTWARE CORP自由现金流更多（$59.9M vs $-159.0M），过去两年IONIS PHARMACEUTICALS INC的营收复合增速更高（30.4% vs 17.0%）
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。
Progress Software是全球领先的企业级软件服务商，主营应用开发平台、数据连接工具、数字体验解决方案等产品，服务覆盖金融、医疗、制造、零售等多行业的全球企业客户，助力客户搭建高性能可扩展的业务应用，提升运营效率。
IONS vs PRGS — 直观对比
营收规模更大
PRGS
是对方的1.2倍
$203.3M
营收增速更快
PRGS
高出27.8%
-10.3%
净利率更高
PRGS
高出123.0%
-112.8%
自由现金流更多
PRGS
多$218.9M
$-159.0M
两年增速更快
IONS
近两年复合增速
17.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $203.3M | $252.7M |
| 净利润 | $-229.4M | $25.7M |
| 毛利率 | 96.1% | 81.6% |
| 营业利润率 | -105.5% | 15.2% |
| 净利率 | -112.8% | 10.2% |
| 营收同比 | -10.3% | 17.5% |
| 净利润同比 | -119.8% | 2144.6% |
| 每股收益（稀释后） | $-1.35 | $0.59 |
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IONSPRGS
| Q4 25 | $203.3M | $252.7M | ||
| Q3 25 | $156.7M | $249.8M | ||
| Q2 25 | $452.0M | $237.4M | ||
| Q1 25 | $131.6M | $238.0M | ||
| Q4 24 | $226.6M | $215.0M | ||
| Q3 24 | $133.8M | $178.7M | ||
| Q2 24 | $225.3M | $175.1M | ||
| Q1 24 | $119.5M | $184.7M |
净利润IONSPRGS
| Q4 25 | $-229.4M | $25.7M | ||
| Q3 25 | $-128.6M | $19.4M | ||
| Q2 25 | $123.6M | $17.0M | ||
| Q1 25 | $-146.9M | $10.9M | ||
| Q4 24 | $-104.3M | $1.1M | ||
| Q3 24 | $-140.5M | $28.5M | ||
| Q2 24 | $-66.3M | $16.2M | ||
| Q1 24 | $-142.8M | $22.6M |
毛利率IONSPRGS
| Q4 25 | 96.1% | 81.6% | ||
| Q3 25 | 98.5% | 81.0% | ||
| Q2 25 | 99.1% | 80.1% | ||
| Q1 25 | 98.9% | 80.6% | ||
| Q4 24 | 98.3% | 83.0% | ||
| Q3 24 | 99.2% | 83.7% | ||
| Q2 24 | 98.2% | 81.7% | ||
| Q1 24 | 98.2% | 82.2% |
营业利润率IONSPRGS
| Q4 25 | -105.5% | 15.2% | ||
| Q3 25 | -102.2% | 17.6% | ||
| Q2 25 | 30.9% | 16.3% | ||
| Q1 25 | -111.6% | 13.6% | ||
| Q4 24 | -48.9% | 10.0% | ||
| Q3 24 | -111.1% | 22.6% | ||
| Q2 24 | -29.3% | 15.5% | ||
| Q1 24 | -125.1% | 19.0% |
净利率IONSPRGS
| Q4 25 | -112.8% | 10.2% | ||
| Q3 25 | -82.1% | 7.8% | ||
| Q2 25 | 27.3% | 7.2% | ||
| Q1 25 | -111.6% | 4.6% | ||
| Q4 24 | -46.1% | 0.5% | ||
| Q3 24 | -105.0% | 15.9% | ||
| Q2 24 | -29.4% | 9.2% | ||
| Q1 24 | -119.5% | 12.3% |
每股收益（稀释后）IONSPRGS
| Q4 25 | $-1.35 | $0.59 | ||
| Q3 25 | $-0.80 | $0.44 | ||
| Q2 25 | $0.70 | $0.39 | ||
| Q1 25 | $-0.93 | $0.24 | ||
| Q4 24 | $-0.66 | $0.01 | ||
| Q3 24 | $-0.95 | $0.65 | ||
| Q2 24 | $-0.45 | $0.37 | ||
| Q1 24 | $-0.98 | $0.51 |
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 | $94.8M |
| 总债务越低越好 | $1.8B | $1.4B |
| 股东权益账面价值 | $489.1M | $478.3M |
| 总资产 | $3.5B | $2.5B |
| 负债/权益比越低杠杆越低 | 3.71× | 2.93× |
8季度趋势，按日历期对齐
现金及短期投资IONSPRGS
| Q4 25 | $2.7B | $94.8M | ||
| Q3 25 | $2.2B | $99.0M | ||
| Q2 25 | $2.3B | $102.0M | ||
| Q1 25 | $2.1B | $124.2M | ||
| Q4 24 | $2.3B | $118.1M | ||
| Q3 24 | $2.5B | $232.7M | ||
| Q2 24 | $2.1B | $190.4M | ||
| Q1 24 | $2.2B | $133.2M |
总债务IONSPRGS
| Q4 25 | $1.8B | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IONSPRGS
| Q4 25 | $489.1M | $478.3M | ||
| Q3 25 | $618.0M | $477.7M | ||
| Q2 25 | $631.7M | $452.7M | ||
| Q1 25 | $475.7M | $431.8M | ||
| Q4 24 | $588.4M | $438.8M | ||
| Q3 24 | $662.5M | $425.6M | ||
| Q2 24 | $263.7M | $401.7M | ||
| Q1 24 | $296.5M | $461.7M |
总资产IONSPRGS
| Q4 25 | $3.5B | $2.5B | ||
| Q3 25 | $3.0B | $2.4B | ||
| Q2 25 | $3.0B | $2.4B | ||
| Q1 25 | $2.8B | $2.5B | ||
| Q4 24 | $3.0B | $2.5B | ||
| Q3 24 | $3.1B | $1.6B | ||
| Q2 24 | $2.7B | $1.6B | ||
| Q1 24 | $2.8B | $1.5B |
负债/权益比IONSPRGS
| Q4 25 | 3.71× | 2.93× | ||
| Q3 25 | — | 2.97× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.50× | ||
| Q4 24 | 2.13× | 3.48× | ||
| 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 | $62.8M |
| 自由现金流经营现金流 - 资本支出 | $-159.0M | $59.9M |
| 自由现金流率自由现金流/营收 | -78.2% | 23.7% |
| 资本支出强度资本支出/营收 | 10.5% | 1.1% |
| 现金转化率经营现金流/净利润 | — | 2.44× |
| 过去12个月自由现金流最近4个季度 | $-320.0M | $229.5M |
8季度趋势，按日历期对齐
经营现金流IONSPRGS
| Q4 25 | $-137.7M | $62.8M | ||
| Q3 25 | $-131.4M | $73.4M | ||
| Q2 25 | $151.3M | $30.0M | ||
| Q1 25 | $-150.8M | $68.9M | ||
| Q4 24 | $-116.1M | $19.7M | ||
| Q3 24 | $-115.0M | $57.7M | ||
| Q2 24 | $-119.9M | $63.7M | ||
| Q1 24 | $-149.9M | $70.5M |
自由现金流IONSPRGS
| Q4 25 | $-159.0M | $59.9M | ||
| Q3 25 | $-136.7M | $72.4M | ||
| Q2 25 | $139.0M | $29.5M | ||
| Q1 25 | $-163.4M | $67.7M | ||
| Q4 24 | $-141.6M | $16.8M | ||
| Q3 24 | $-124.0M | $56.6M | ||
| Q2 24 | $-126.1M | $62.7M | ||
| Q1 24 | $-154.4M | $70.2M |
自由现金流率IONSPRGS
| Q4 25 | -78.2% | 23.7% | ||
| Q3 25 | -87.2% | 29.0% | ||
| Q2 25 | 30.8% | 12.4% | ||
| Q1 25 | -124.1% | 28.4% | ||
| Q4 24 | -62.5% | 7.8% | ||
| Q3 24 | -92.7% | 31.7% | ||
| Q2 24 | -56.0% | 35.8% | ||
| Q1 24 | -129.2% | 38.0% |
资本支出强度IONSPRGS
| Q4 25 | 10.5% | 1.1% | ||
| Q3 25 | 3.4% | 0.4% | ||
| Q2 25 | 2.7% | 0.2% | ||
| Q1 25 | 9.6% | 0.5% | ||
| Q4 24 | 11.3% | 1.3% | ||
| Q3 24 | 6.8% | 0.6% | ||
| Q2 24 | 2.8% | 0.5% | ||
| Q1 24 | 3.8% | 0.2% |
现金转化率IONSPRGS
| Q4 25 | — | 2.44× | ||
| Q3 25 | — | 3.78× | ||
| Q2 25 | 1.22× | 1.76× | ||
| Q1 25 | — | 6.30× | ||
| Q4 24 | — | 17.13× | ||
| Q3 24 | — | 2.03× | ||
| Q2 24 | — | 3.93× | ||
| Q1 24 | — | 3.11× |
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% |
PRGS
| Maintenanceand Services | $187.5M | 74% |
| Share File Acquisition | $67.5M | 27% |
