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IONIS PHARMACEUTICALS INC（IONS）与RESOURCES CONNECTION, INC.（RGP）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RESOURCES CONNECTION, INC.的1.7倍（$203.3M vs $117.7M），RESOURCES CONNECTION, INC.净利率更高（-10.8% vs -112.8%，领先102.1%），IONIS PHARMACEUTICALS INC同比增速更快（-10.3% vs -19.2%），RESOURCES CONNECTION, INC.自由现金流更多（$15.6M vs $-159.0M），过去两年IONIS PHARMACEUTICALS INC的营收复合增速更高（30.4% vs -11.8%）
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。
RGP原名 Resources Global Professionals，是 Resources Connection, Inc. 的核心运营主体，面向全球客户提供多领域专业咨询服务，覆盖财务会计、信息管理、治理风险合规、人力资本、法务监管、企业咨询与重组、战略传播以及供应链管理等板块。
IONS vs RGP — 直观对比
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $203.3M | $117.7M |
| 净利润 | $-229.4M | $-12.7M |
| 毛利率 | 96.1% | 37.1% |
| 营业利润率 | -105.5% | -10.3% |
| 净利率 | -112.8% | -10.8% |
| 营收同比 | -10.3% | -19.2% |
| 净利润同比 | -119.8% | 81.6% |
| 每股收益（稀释后） | $-1.35 | $-0.38 |
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
| Q4 25 | $203.3M | $117.7M | ||
| Q3 25 | $156.7M | $120.2M | ||
| Q2 25 | $452.0M | $139.3M | ||
| Q1 25 | $131.6M | $129.4M | ||
| Q4 24 | $226.6M | $145.6M | ||
| Q3 24 | $133.8M | $136.9M | ||
| Q2 24 | $225.3M | $148.2M | ||
| Q1 24 | $119.5M | $151.3M |
| Q4 25 | $-229.4M | $-12.7M | ||
| Q3 25 | $-128.6M | $-2.4M | ||
| Q2 25 | $123.6M | $-73.3M | ||
| Q1 25 | $-146.9M | $-44.1M | ||
| Q4 24 | $-104.3M | $-68.7M | ||
| Q3 24 | $-140.5M | $-5.7M | ||
| Q2 24 | $-66.3M | $10.5M | ||
| Q1 24 | $-142.8M | $2.5M |
| Q4 25 | 96.1% | 37.1% | ||
| Q3 25 | 98.5% | 39.5% | ||
| Q2 25 | 99.1% | 40.2% | ||
| Q1 25 | 98.9% | 35.1% | ||
| Q4 24 | 98.3% | 38.5% | ||
| Q3 24 | 99.2% | 36.5% | ||
| Q2 24 | 98.2% | 40.2% | ||
| Q1 24 | 98.2% | 37.0% |
| Q4 25 | -105.5% | -10.3% | ||
| Q3 25 | -102.2% | -1.7% | ||
| Q2 25 | 30.9% | -47.0% | ||
| Q1 25 | -111.6% | -38.4% | ||
| Q4 24 | -48.9% | -52.7% | ||
| Q3 24 | -111.1% | -3.5% | ||
| Q2 24 | -29.3% | 7.6% | ||
| Q1 24 | -125.1% | 2.8% |
| Q4 25 | -112.8% | -10.8% | ||
| Q3 25 | -82.1% | -2.0% | ||
| Q2 25 | 27.3% | -52.6% | ||
| Q1 25 | -111.6% | -34.0% | ||
| Q4 24 | -46.1% | -47.2% | ||
| Q3 24 | -105.0% | -4.2% | ||
| Q2 24 | -29.4% | 7.1% | ||
| Q1 24 | -119.5% | 1.7% |
| Q4 25 | $-1.35 | $-0.38 | ||
| Q3 25 | $-0.80 | $-0.07 | ||
| Q2 25 | $0.70 | $-2.21 | ||
| Q1 25 | $-0.93 | $-1.34 | ||
| Q4 24 | $-0.66 | $-2.08 | ||
| Q3 24 | $-0.95 | $-0.17 | ||
| Q2 24 | $-0.45 | $0.31 | ||
| 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 | $89.8M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $489.1M | $194.6M |
| 总资产 | $3.5B | $289.3M |
| 负债/权益比越低杠杆越低 | 3.71× | — |
8季度趋势，按日历期对齐
| Q4 25 | $2.7B | $89.8M | ||
| Q3 25 | $2.2B | $77.5M | ||
| Q2 25 | $2.3B | $86.1M | ||
| Q1 25 | $2.1B | $72.5M | ||
| Q4 24 | $2.3B | $78.2M | ||
| Q3 24 | $2.5B | $89.6M | ||
| Q2 24 | $2.1B | $108.9M | ||
| Q1 24 | $2.2B | $113.8M |
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $489.1M | $194.6M | ||
| Q3 25 | $618.0M | $206.4M | ||
| Q2 25 | $631.7M | $207.1M | ||
| Q1 25 | $475.7M | $277.8M | ||
| Q4 24 | $588.4M | $325.7M | ||
| Q3 24 | $662.5M | $407.2M | ||
| Q2 24 | $263.7M | $418.8M | ||
| Q1 24 | $296.5M | $414.9M |
| Q4 25 | $3.5B | $289.3M | ||
| Q3 25 | $3.0B | $287.2M | ||
| Q2 25 | $3.0B | $304.7M | ||
| Q1 25 | $2.8B | $375.6M | ||
| Q4 24 | $3.0B | $424.9M | ||
| Q3 24 | $3.1B | $512.9M | ||
| Q2 24 | $2.7B | $510.9M | ||
| Q1 24 | $2.8B | $523.2M |
| 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 | $15.9M |
| 自由现金流经营现金流 - 资本支出 | $-159.0M | $15.6M |
| 自由现金流率自由现金流/营收 | -78.2% | 13.2% |
| 资本支出强度资本支出/营收 | 10.5% | 0.3% |
| 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 | $24.3M |
8季度趋势，按日历期对齐
| Q4 25 | $-137.7M | $15.9M | ||
| Q3 25 | $-131.4M | $-7.8M | ||
| Q2 25 | $151.3M | $16.8M | ||
| Q1 25 | $-150.8M | $659.0K | ||
| Q4 24 | $-116.1M | $1.8M | ||
| Q3 24 | $-115.0M | $-309.0K | ||
| Q2 24 | $-119.9M | $3.2M | ||
| Q1 24 | $-149.9M | $20.5M |
| Q4 25 | $-159.0M | $15.6M | ||
| Q3 25 | $-136.7M | $-8.0M | ||
| Q2 25 | $139.0M | $16.5M | ||
| Q1 25 | $-163.4M | $238.0K | ||
| Q4 24 | $-141.6M | $61.0K | ||
| Q3 24 | $-124.0M | $-575.0K | ||
| Q2 24 | $-126.1M | $3.0M | ||
| Q1 24 | $-154.4M | $20.4M |
| Q4 25 | -78.2% | 13.2% | ||
| Q3 25 | -87.2% | -6.6% | ||
| Q2 25 | 30.8% | 11.8% | ||
| Q1 25 | -124.1% | 0.2% | ||
| Q4 24 | -62.5% | 0.0% | ||
| Q3 24 | -92.7% | -0.4% | ||
| Q2 24 | -56.0% | 2.1% | ||
| Q1 24 | -129.2% | 13.5% |
| Q4 25 | 10.5% | 0.3% | ||
| Q3 25 | 3.4% | 0.1% | ||
| Q2 25 | 2.7% | 0.2% | ||
| Q1 25 | 9.6% | 0.3% | ||
| Q4 24 | 11.3% | 1.2% | ||
| Q3 24 | 6.8% | 0.2% | ||
| Q2 24 | 2.8% | 0.1% | ||
| Q1 24 | 3.8% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.30× | ||
| Q1 24 | — | 8.04× |
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% |
RGP
| US | $93.7M | 80% |
| Non Us | $24.0M | 20% |
