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铱星通信（IRDM）与Ultragenyx Pharmaceutical Inc.（RARE）财务数据对比。点击上方公司名可切换其他公司
铱星通信的季度营收约是Ultragenyx Pharmaceutical Inc.的1.1倍（$219.1M vs $207.3M），铱星通信净利率更高（9.9% vs -62.0%，领先71.9%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 1.9%），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 4.4%）
铱星通信是一家总部位于美国弗吉尼亚州麦克莱恩的上市企业，运营着由80颗卫星组成的铱星星座，其中66颗为工作星，14颗为在轨备用星。其卫星网络支持手持卫星电话、卫星通信终端及集成收发设备实现全球范围的语音和数据传输，还可提供双向卫星消息服务，满足全球各场景的通信需求。
Ultragenyx Pharmaceutical Inc.是一家总部位于美国的生物制药企业，专注于研发罕见病和超罕见遗传病的创新治疗方案，这类疾病目前大多无获批疗法，存在大量未被满足的临床需求。公司覆盖生物制剂、小分子药物、基因疗法、反义寡核苷酸及mRNA等多种药物技术平台，研发管线涵盖骨骼、内分泌、代谢、肌肉及中枢神经系统疾病领域。
IRDM vs RARE — 直观对比
营收规模更大
IRDM
是对方的1.1倍
$207.3M
营收增速更快
RARE
高出23.9%
1.9%
净利率更高
IRDM
高出71.9%
-62.0%
两年增速更快
RARE
近两年复合增速
4.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $219.1M | $207.3M |
| 净利润 | $21.6M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | 23.2% | -54.7% |
| 净利率 | 9.9% | -62.0% |
| 营收同比 | 1.9% | 25.9% |
| 净利润同比 | — | 3.5% |
| 每股收益（稀释后） | — | $-1.28 |
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IRDMRARE
| Q1 26 | $219.1M | — | ||
| Q4 25 | $212.9M | $207.3M | ||
| Q3 25 | $226.9M | $159.9M | ||
| Q2 25 | $216.9M | $166.5M | ||
| Q1 25 | $214.9M | $139.3M | ||
| Q4 24 | $213.0M | $164.6M | ||
| Q3 24 | $212.8M | $139.5M | ||
| Q2 24 | $201.1M | $147.0M |
净利润IRDMRARE
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | $-128.6M | ||
| Q3 25 | $37.1M | $-180.4M | ||
| Q2 25 | $22.0M | $-115.0M | ||
| Q1 25 | $30.4M | $-151.1M | ||
| Q4 24 | $36.3M | $-133.2M | ||
| Q3 24 | $24.4M | $-133.5M | ||
| Q2 24 | $32.3M | $-131.6M |
营业利润率IRDMRARE
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | -54.7% | ||
| Q3 25 | 30.9% | -106.9% | ||
| Q2 25 | 23.2% | -64.8% | ||
| Q1 25 | 28.1% | -102.6% | ||
| Q4 24 | 24.5% | -74.3% | ||
| Q3 24 | 25.8% | -94.6% | ||
| Q2 24 | 21.7% | -79.1% |
净利率IRDMRARE
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | -62.0% | ||
| Q3 25 | 16.4% | -112.8% | ||
| Q2 25 | 10.1% | -69.0% | ||
| Q1 25 | 14.2% | -108.5% | ||
| Q4 24 | 17.1% | -80.9% | ||
| Q3 24 | 11.5% | -95.7% | ||
| Q2 24 | 16.1% | -89.5% |
每股收益（稀释后）IRDMRARE
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $-1.28 | ||
| Q3 25 | $0.35 | $-1.81 | ||
| Q2 25 | $0.20 | $-1.17 | ||
| Q1 25 | $0.27 | $-1.57 | ||
| Q4 24 | $0.30 | $-1.34 | ||
| Q3 24 | $0.21 | $-1.40 | ||
| Q2 24 | $0.27 | $-1.52 |
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 | — | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $-80.0M |
| 总资产 | — | $1.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资IRDMRARE
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | $421.0M | ||
| Q3 25 | $88.5M | $202.5M | ||
| Q2 25 | $79.3M | $176.3M | ||
| Q1 25 | $50.9M | $127.1M | ||
| Q4 24 | $93.5M | $174.0M | ||
| Q3 24 | $159.6M | $150.6M | ||
| Q2 24 | $63.5M | $480.7M |
总债务IRDMRARE
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益IRDMRARE
| Q1 26 | — | — | ||
| Q4 25 | $462.6M | $-80.0M | ||
| Q3 25 | $450.5M | $9.2M | ||
| Q2 25 | $473.6M | $151.3M | ||
| Q1 25 | $518.4M | $144.2M | ||
| Q4 24 | $576.6M | $255.0M | ||
| Q3 24 | $663.8M | $346.8M | ||
| Q2 24 | $786.7M | $432.4M |
总资产IRDMRARE
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $1.5B | ||
| Q3 25 | $2.6B | $1.2B | ||
| Q2 25 | $2.6B | $1.3B | ||
| Q1 25 | $2.6B | $1.3B | ||
| Q4 24 | $2.7B | $1.5B | ||
| Q3 24 | $2.8B | $1.5B | ||
| Q2 24 | $2.7B | $1.6B |
负债/权益比IRDMRARE
| Q1 26 | — | — | ||
| Q4 25 | 3.80× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.05× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | — | $-100.8M |
| 自由现金流率自由现金流/营收 | — | -48.6% |
| 资本支出强度资本支出/营收 | 13.7% | 0.5% |
| 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 | — | $-472.0M |
8季度趋势，按日历期对齐
经营现金流IRDMRARE
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | $-99.8M | ||
| Q3 25 | $100.8M | $-91.4M | ||
| Q2 25 | $129.6M | $-108.3M | ||
| Q1 25 | $61.1M | $-166.5M | ||
| Q4 24 | $104.8M | $-79.3M | ||
| Q3 24 | $118.6M | $-67.0M | ||
| Q2 24 | $81.1M | $-77.0M |
自由现金流IRDMRARE
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $-100.8M | ||
| Q3 25 | $79.2M | $-92.7M | ||
| Q2 25 | $108.9M | $-110.7M | ||
| Q1 25 | $36.5M | $-167.8M | ||
| Q4 24 | $80.5M | $-79.5M | ||
| Q3 24 | $100.0M | $-68.6M | ||
| Q2 24 | $68.7M | $-79.0M |
自由现金流率IRDMRARE
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | -48.6% | ||
| Q3 25 | 34.9% | -58.0% | ||
| Q2 25 | 50.2% | -66.5% | ||
| Q1 25 | 17.0% | -120.5% | ||
| Q4 24 | 37.8% | -48.3% | ||
| Q3 24 | 47.0% | -49.2% | ||
| Q2 24 | 34.2% | -53.7% |
资本支出强度IRDMRARE
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 0.5% | ||
| Q3 25 | 9.5% | 0.8% | ||
| Q2 25 | 9.5% | 1.5% | ||
| Q1 25 | 11.4% | 1.0% | ||
| Q4 24 | 11.4% | 0.1% | ||
| Q3 24 | 8.7% | 1.2% | ||
| Q2 24 | 6.2% | 1.4% |
现金转化率IRDMRARE
| Q1 26 | — | — | ||
| Q4 25 | 4.37× | — | ||
| Q3 25 | 2.71× | — | ||
| Q2 25 | 5.90× | — | ||
| Q1 25 | 2.01× | — | ||
| Q4 24 | 2.88× | — | ||
| Q3 24 | 4.85× | — | ||
| Q2 24 | 2.51× | — |
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
IRDM
| Voice and data | $57.4M | 26% |
| IoT data (2) | $46.0M | 21% |
| Government | $39.5M | 18% |
| Government service revenue (5) | $27.6M | 13% |
| Subscriber equipment | $20.2M | 9% |
| Hosted payload and other data service (4) | $14.8M | 7% |
| Broadband (3) | $12.2M | 6% |
| Commercial | $1.3M | 1% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
