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骏利亨德森（JBI）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
骏利亨德森的季度营收约是Ultragenyx Pharmaceutical Inc.的1.1倍（$219.3M vs $207.3M），骏利亨德森净利率更高（6.9% vs -62.0%，领先69.0%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -4.7%），骏利亨德森自由现金流更多（$8.3M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -8.8%）
骏利亨德森是一家英美合资的全球资产管理集团，总部位于英国伦敦市。旗下以骏利亨德森投资者为品牌，面向全球个人投资者、中介顾问及机构投资者提供丰富多样的金融产品。
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。
JBI vs RARE — 直观对比
营收规模更大
JBI
是对方的1.1倍
$207.3M
营收增速更快
RARE
高出30.6%
-4.7%
净利率更高
JBI
高出69.0%
-62.0%
自由现金流更多
JBI
多$109.1M
$-100.8M
两年增速更快
RARE
近两年复合增速
-8.8%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $219.3M | $207.3M |
| 净利润 | $15.2M | $-128.6M |
| 毛利率 | 39.1% | — |
| 营业利润率 | 13.4% | -54.7% |
| 净利率 | 6.9% | -62.0% |
| 营收同比 | -4.7% | 25.9% |
| 净利润同比 | 28.8% | 3.5% |
| 每股收益（稀释后） | $0.11 | $-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JBIRARE
| Q4 25 | — | $207.3M | ||
| Q3 25 | $219.3M | $159.9M | ||
| Q2 25 | $228.1M | $166.5M | ||
| Q1 25 | $210.5M | $139.3M | ||
| Q4 24 | $230.8M | $164.6M | ||
| Q3 24 | $230.1M | $139.5M | ||
| Q2 24 | $248.4M | $147.0M | ||
| Q1 24 | $254.5M | $108.8M |
净利润JBIRARE
| Q4 25 | — | $-128.6M | ||
| Q3 25 | $15.2M | $-180.4M | ||
| Q2 25 | $20.7M | $-115.0M | ||
| Q1 25 | $10.8M | $-151.1M | ||
| Q4 24 | $300.0K | $-133.2M | ||
| Q3 24 | $11.8M | $-133.5M | ||
| Q2 24 | $27.6M | $-131.6M | ||
| Q1 24 | $30.7M | $-170.7M |
毛利率JBIRARE
| Q4 25 | — | — | ||
| Q3 25 | 39.1% | — | ||
| Q2 25 | 40.9% | — | ||
| Q1 25 | 38.9% | — | ||
| Q4 24 | 37.8% | — | ||
| Q3 24 | 39.6% | — | ||
| Q2 24 | 43.9% | — | ||
| Q1 24 | 43.4% | — |
营业利润率JBIRARE
| Q4 25 | — | -54.7% | ||
| Q3 25 | 13.4% | -106.9% | ||
| Q2 25 | 15.8% | -64.8% | ||
| Q1 25 | 12.0% | -102.6% | ||
| Q4 24 | 5.5% | -74.3% | ||
| Q3 24 | 11.6% | -94.6% | ||
| Q2 24 | 20.8% | -79.1% | ||
| Q1 24 | 21.8% | -151.9% |
净利率JBIRARE
| Q4 25 | — | -62.0% | ||
| Q3 25 | 6.9% | -112.8% | ||
| Q2 25 | 9.1% | -69.0% | ||
| Q1 25 | 5.1% | -108.5% | ||
| Q4 24 | 0.1% | -80.9% | ||
| Q3 24 | 5.1% | -95.7% | ||
| Q2 24 | 11.1% | -89.5% | ||
| Q1 24 | 12.1% | -156.8% |
每股收益（稀释后）JBIRARE
| Q4 25 | — | $-1.28 | ||
| Q3 25 | $0.11 | $-1.81 | ||
| Q2 25 | $0.15 | $-1.17 | ||
| Q1 25 | $0.08 | $-1.57 | ||
| Q4 24 | $0.01 | $-1.34 | ||
| Q3 24 | $0.08 | $-1.40 | ||
| Q2 24 | $0.19 | $-1.52 | ||
| Q1 24 | $0.21 | $-2.03 |
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 | $560.8M | $-80.0M |
| 总资产 | $1.3B | $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JBIRARE
| Q4 25 | — | $421.0M | ||
| Q3 25 | — | $202.5M | ||
| Q2 25 | — | $176.3M | ||
| Q1 25 | — | $127.1M | ||
| Q4 24 | — | $174.0M | ||
| Q3 24 | $102.1M | $150.6M | ||
| Q2 24 | $110.1M | $480.7M | ||
| Q1 24 | — | $112.3M |
股东权益JBIRARE
| Q4 25 | — | $-80.0M | ||
| Q3 25 | $560.8M | $9.2M | ||
| Q2 25 | $543.8M | $151.3M | ||
| Q1 25 | $526.8M | $144.2M | ||
| Q4 24 | $518.8M | $255.0M | ||
| Q3 24 | $526.6M | $346.8M | ||
| Q2 24 | $556.3M | $432.4M | ||
| Q1 24 | $535.4M | $140.3M |
总资产JBIRARE
| Q4 25 | — | $1.5B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $1.3B | $1.6B | ||
| Q1 24 | $1.4B | $1.3B |
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 | $15.0M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $8.3M | $-100.8M |
| 自由现金流率自由现金流/营收 | 3.8% | -48.6% |
| 资本支出强度资本支出/营收 | 3.1% | 0.5% |
| 现金转化率经营现金流/净利润 | 0.99× | — |
| 过去12个月自由现金流最近4个季度 | $140.1M | $-472.0M |
8季度趋势，按日历期对齐
经营现金流JBIRARE
| Q4 25 | — | $-99.8M | ||
| Q3 25 | $15.0M | $-91.4M | ||
| Q2 25 | $51.4M | $-108.3M | ||
| Q1 25 | $48.3M | $-166.5M | ||
| Q4 24 | $51.4M | $-79.3M | ||
| Q3 24 | $43.0M | $-67.0M | ||
| Q2 24 | $31.0M | $-77.0M | ||
| Q1 24 | $28.6M | $-190.7M |
自由现金流JBIRARE
| Q4 25 | — | $-100.8M | ||
| Q3 25 | $8.3M | $-92.7M | ||
| Q2 25 | $44.6M | $-110.7M | ||
| Q1 25 | $41.9M | $-167.8M | ||
| Q4 24 | $45.3M | $-79.5M | ||
| Q3 24 | $39.3M | $-68.6M | ||
| Q2 24 | $25.3M | $-79.0M | ||
| Q1 24 | $24.0M | $-193.9M |
自由现金流率JBIRARE
| Q4 25 | — | -48.6% | ||
| Q3 25 | 3.8% | -58.0% | ||
| Q2 25 | 19.6% | -66.5% | ||
| Q1 25 | 19.9% | -120.5% | ||
| Q4 24 | 19.6% | -48.3% | ||
| Q3 24 | 17.1% | -49.2% | ||
| Q2 24 | 10.2% | -53.7% | ||
| Q1 24 | 9.4% | -178.2% |
资本支出强度JBIRARE
| Q4 25 | — | 0.5% | ||
| Q3 25 | 3.1% | 0.8% | ||
| Q2 25 | 3.0% | 1.5% | ||
| Q1 25 | 3.0% | 1.0% | ||
| Q4 24 | 2.6% | 0.1% | ||
| Q3 24 | 1.6% | 1.2% | ||
| Q2 24 | 2.3% | 1.4% | ||
| Q1 24 | 1.8% | 3.0% |
现金转化率JBIRARE
| Q4 25 | — | — | ||
| Q3 25 | 0.99× | — | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | 4.47× | — | ||
| Q4 24 | 171.33× | — | ||
| Q3 24 | 3.64× | — | ||
| Q2 24 | 1.12× | — | ||
| Q1 24 | 0.93× | — |
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
JBI
| Self Storage New Construction | $72.3M | 33% |
| Commercial And Others | $65.5M | 30% |
| Self Storage R3 | $54.0M | 25% |
| Transferred At Point In Time | $15.5M | 7% |
| Transferred Over Time | $12.8M | 6% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
