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IONIS PHARMACEUTICALS INC（IONS）与Ribbon Communications Inc.（RBBN）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Ribbon Communications Inc.的1.3倍（$203.3M vs $162.6M），Ribbon Communications Inc.净利率更高（54.8% vs -112.8%，领先167.6%），IONIS PHARMACEUTICALS INC同比增速更快（-10.3% vs -10.3%），过去两年IONIS PHARMACEUTICALS INC的营收复合增速更高（30.4% vs -8.1%）
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。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
IONS vs RBBN — 直观对比
营收规模更大
IONS
是对方的1.3倍
$162.6M
营收增速更快
IONS
高出0.0%
-10.3%
净利率更高
RBBN
高出167.6%
-112.8%
两年增速更快
IONS
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $203.3M | $162.6M |
| 净利润 | $-229.4M | $89.1M |
| 毛利率 | 96.1% | 42.9% |
| 营业利润率 | -105.5% | 37.6% |
| 净利率 | -112.8% | 54.8% |
| 营收同比 | -10.3% | -10.3% |
| 净利润同比 | -119.8% | — |
| 每股收益（稀释后） | $-1.35 | $0.50 |
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IONSRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $203.3M | $227.3M | ||
| Q3 25 | $156.7M | $215.4M | ||
| Q2 25 | $452.0M | $220.6M | ||
| Q1 25 | $131.6M | $181.3M | ||
| Q4 24 | $226.6M | $251.4M | ||
| Q3 24 | $133.8M | $210.2M | ||
| Q2 24 | $225.3M | $192.6M |
净利润IONSRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $-229.4M | — | ||
| Q3 25 | $-128.6M | $-12.1M | ||
| Q2 25 | $123.6M | $-11.1M | ||
| Q1 25 | $-146.9M | $-26.2M | ||
| Q4 24 | $-104.3M | — | ||
| Q3 24 | $-140.5M | $-13.4M | ||
| Q2 24 | $-66.3M | $-16.8M |
毛利率IONSRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | 96.1% | 53.3% | ||
| Q3 25 | 98.5% | 50.1% | ||
| Q2 25 | 99.1% | 49.6% | ||
| Q1 25 | 98.9% | 45.4% | ||
| Q4 24 | 98.3% | 55.7% | ||
| Q3 24 | 99.2% | 52.1% | ||
| Q2 24 | 98.2% | 50.8% |
营业利润率IONSRBBN
| Q1 26 | — | 37.6% | ||
| Q4 25 | -105.5% | 4.1% | ||
| Q3 25 | -102.2% | 1.3% | ||
| Q2 25 | 30.9% | 1.9% | ||
| Q1 25 | -111.6% | -10.8% | ||
| Q4 24 | -48.9% | 13.2% | ||
| Q3 24 | -111.1% | -0.4% | ||
| Q2 24 | -29.3% | -1.0% |
净利率IONSRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | -112.8% | — | ||
| Q3 25 | -82.1% | -5.6% | ||
| Q2 25 | 27.3% | -5.0% | ||
| Q1 25 | -111.6% | -14.5% | ||
| Q4 24 | -46.1% | — | ||
| Q3 24 | -105.0% | -6.4% | ||
| Q2 24 | -29.4% | -8.7% |
每股收益（稀释后）IONSRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $-1.35 | $0.50 | ||
| Q3 25 | $-0.80 | $-0.07 | ||
| Q2 25 | $0.70 | $-0.06 | ||
| Q1 25 | $-0.93 | $-0.15 | ||
| Q4 24 | $-0.66 | $0.05 | ||
| Q3 24 | $-0.95 | $-0.08 | ||
| Q2 24 | $-0.45 | $-0.10 |
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 | $67.6M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $489.1M | $419.1M |
| 总资产 | $3.5B | — |
| 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IONSRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $2.7B | $96.4M | ||
| Q3 25 | $2.2B | $74.8M | ||
| Q2 25 | $2.3B | $60.5M | ||
| Q1 25 | $2.1B | $71.2M | ||
| Q4 24 | $2.3B | $87.8M | ||
| Q3 24 | $2.5B | $37.2M | ||
| Q2 24 | $2.1B | $64.6M |
总债务IONSRBBN
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $342.1M | ||
| Q3 25 | — | $344.3M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $347.4M | ||
| Q4 24 | $1.3B | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | — | $350.0M |
股东权益IONSRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $489.1M | $449.0M | ||
| Q3 25 | $618.0M | $360.1M | ||
| Q2 25 | $631.7M | $370.4M | ||
| Q1 25 | $475.7M | $381.8M | ||
| Q4 24 | $588.4M | $404.6M | ||
| Q3 24 | $662.5M | $395.5M | ||
| Q2 24 | $263.7M | $405.0M |
总资产IONSRBBN
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $1.2B | ||
| Q3 25 | $3.0B | $1.1B | ||
| Q2 25 | $3.0B | $1.1B | ||
| Q1 25 | $2.8B | $1.1B | ||
| Q4 24 | $3.0B | $1.2B | ||
| Q3 24 | $3.1B | $1.1B | ||
| Q2 24 | $2.7B | $1.1B |
负债/权益比IONSRBBN
| Q1 26 | — | — | ||
| Q4 25 | 3.71× | 0.76× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | 2.13× | 0.86× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 0.86× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-159.0M | — |
| 自由现金流率自由现金流/营收 | -78.2% | — |
| 资本支出强度资本支出/营收 | 10.5% | — |
| 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 | $-320.0M | — |
8季度趋势，按日历期对齐
经营现金流IONSRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-137.7M | $29.2M | ||
| Q3 25 | $-131.4M | $26.5M | ||
| Q2 25 | $151.3M | $-795.0K | ||
| Q1 25 | $-150.8M | $-3.5M | ||
| Q4 24 | $-116.1M | $61.8M | ||
| Q3 24 | $-115.0M | $-14.8M | ||
| Q2 24 | $-119.9M | $-9.8M |
自由现金流IONSRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-159.0M | $27.3M | ||
| Q3 25 | $-136.7M | $21.0M | ||
| Q2 25 | $139.0M | $-6.5M | ||
| Q1 25 | $-163.4M | $-15.7M | ||
| Q4 24 | $-141.6M | $53.8M | ||
| Q3 24 | $-124.0M | $-23.7M | ||
| Q2 24 | $-126.1M | $-12.9M |
自由现金流率IONSRBBN
| Q1 26 | — | — | ||
| Q4 25 | -78.2% | 12.0% | ||
| Q3 25 | -87.2% | 9.7% | ||
| Q2 25 | 30.8% | -2.9% | ||
| Q1 25 | -124.1% | -8.7% | ||
| Q4 24 | -62.5% | 21.4% | ||
| Q3 24 | -92.7% | -11.3% | ||
| Q2 24 | -56.0% | -6.7% |
资本支出强度IONSRBBN
| Q1 26 | — | — | ||
| Q4 25 | 10.5% | 0.9% | ||
| Q3 25 | 3.4% | 2.6% | ||
| Q2 25 | 2.7% | 2.6% | ||
| Q1 25 | 9.6% | 6.7% | ||
| Q4 24 | 11.3% | 3.2% | ||
| Q3 24 | 6.8% | 4.2% | ||
| Q2 24 | 2.8% | 1.6% |
现金转化率IONSRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
