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LINCOLN EDUCATIONAL SERVICES CORP（LINC）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
Ultragenyx Pharmaceutical Inc.的季度营收约是LINCOLN EDUCATIONAL SERVICES CORP的1.5倍（$207.3M vs $142.9M），LINCOLN EDUCATIONAL SERVICES CORP净利率更高（8.9% vs -62.0%，领先70.9%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 19.7%），LINCOLN EDUCATIONAL SERVICES CORP自由现金流更多（$25.0M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 17.6%）
林肯技术教育集团是美国营利性高等职业教育机构，总部位于新泽西州帕西帕尼，在美国科罗拉多、康涅狄格、佐治亚等12个州都设有校区，所有校区均由林肯教育服务公司持有运营，主打面向就业的高等职业技术教育服务。
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。
LINC vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $142.9M | $207.3M |
| 净利润 | $12.7M | $-128.6M |
| 毛利率 | 62.3% | — |
| 营业利润率 | 12.4% | -54.7% |
| 净利率 | 8.9% | -62.0% |
| 营收同比 | 19.7% | 25.9% |
| 净利润同比 | 85.9% | 3.5% |
| 每股收益（稀释后） | $0.41 | $-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
| Q4 25 | $142.9M | $207.3M | ||
| Q3 25 | $141.4M | $159.9M | ||
| Q2 25 | $116.5M | $166.5M | ||
| Q1 25 | $117.5M | $139.3M | ||
| Q4 24 | $119.4M | $164.6M | ||
| Q3 24 | $114.4M | $139.5M | ||
| Q2 24 | $102.9M | $147.0M | ||
| Q1 24 | $103.4M | $108.8M |
| Q4 25 | $12.7M | $-128.6M | ||
| Q3 25 | $3.8M | $-180.4M | ||
| Q2 25 | $1.6M | $-115.0M | ||
| Q1 25 | $1.9M | $-151.1M | ||
| Q4 24 | $6.8M | $-133.2M | ||
| Q3 24 | $4.0M | $-133.5M | ||
| Q2 24 | $-682.0K | $-131.6M | ||
| Q1 24 | $-214.0K | $-170.7M |
| Q4 25 | 62.3% | — | ||
| Q3 25 | 59.5% | — | ||
| Q2 25 | 59.8% | — | ||
| Q1 25 | 59.7% | — | ||
| Q4 24 | 62.2% | — | ||
| Q3 24 | 58.0% | — | ||
| Q2 24 | 55.7% | — | ||
| Q1 24 | 58.4% | — |
| Q4 25 | 12.4% | -54.7% | ||
| Q3 25 | 4.4% | -106.9% | ||
| Q2 25 | 2.5% | -64.8% | ||
| Q1 25 | 2.9% | -102.6% | ||
| Q4 24 | 9.2% | -74.3% | ||
| Q3 24 | 5.1% | -94.6% | ||
| Q2 24 | -1.1% | -79.1% | ||
| Q1 24 | -0.4% | -151.9% |
| Q4 25 | 8.9% | -62.0% | ||
| Q3 25 | 2.7% | -112.8% | ||
| Q2 25 | 1.3% | -69.0% | ||
| Q1 25 | 1.7% | -108.5% | ||
| Q4 24 | 5.7% | -80.9% | ||
| Q3 24 | 3.5% | -95.7% | ||
| Q2 24 | -0.7% | -89.5% | ||
| Q1 24 | -0.2% | -156.8% |
| Q4 25 | $0.41 | $-1.28 | ||
| Q3 25 | $0.12 | $-1.81 | ||
| Q2 25 | $0.05 | $-1.17 | ||
| Q1 25 | $0.06 | $-1.57 | ||
| Q4 24 | $0.22 | $-1.34 | ||
| Q3 24 | $0.13 | $-1.40 | ||
| Q2 24 | $-0.02 | $-1.52 | ||
| Q1 24 | $-0.01 | $-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 | $28.5M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $199.7M | $-80.0M |
| 总资产 | $493.2M | $1.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $28.5M | $421.0M | ||
| Q3 25 | $13.5M | $202.5M | ||
| Q2 25 | $16.7M | $176.3M | ||
| Q1 25 | $28.7M | $127.1M | ||
| Q4 24 | $59.3M | $174.0M | ||
| Q3 24 | $54.0M | $150.6M | ||
| Q2 24 | $67.0M | $480.7M | ||
| Q1 24 | $68.6M | $112.3M |
| Q4 25 | $199.7M | $-80.0M | ||
| Q3 25 | $185.9M | $9.2M | ||
| Q2 25 | $180.7M | $151.3M | ||
| Q1 25 | $177.8M | $144.2M | ||
| Q4 24 | $178.3M | $255.0M | ||
| Q3 24 | $170.0M | $346.8M | ||
| Q2 24 | $164.9M | $432.4M | ||
| Q1 24 | $164.5M | $140.3M |
| Q4 25 | $493.2M | $1.5B | ||
| Q3 25 | $466.9M | $1.2B | ||
| Q2 25 | $447.3M | $1.3B | ||
| Q1 25 | $427.4M | $1.3B | ||
| Q4 24 | $436.6M | $1.5B | ||
| Q3 24 | $404.0M | $1.5B | ||
| Q2 24 | $366.4M | $1.6B | ||
| Q1 24 | $355.2M | $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 | $43.5M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $25.0M | $-100.8M |
| 自由现金流率自由现金流/营收 | 17.5% | -48.6% |
| 资本支出强度资本支出/营收 | 13.0% | 0.5% |
| 现金转化率经营现金流/净利润 | 3.43× | — |
| 过去12个月自由现金流最近4个季度 | $-27.3M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $43.5M | $-99.8M | ||
| Q3 25 | $23.9M | $-91.4M | ||
| Q2 25 | $299.0K | $-108.3M | ||
| Q1 25 | $-8.4M | $-166.5M | ||
| Q4 24 | $30.3M | $-79.3M | ||
| Q3 24 | $5.6M | $-67.0M | ||
| Q2 24 | $8.3M | $-77.0M | ||
| Q1 24 | $-14.9M | $-190.7M |
| Q4 25 | $25.0M | $-100.8M | ||
| Q3 25 | $2.0M | $-92.7M | ||
| Q2 25 | $-26.1M | $-110.7M | ||
| Q1 25 | $-28.3M | $-167.8M | ||
| Q4 24 | $5.5M | $-79.5M | ||
| Q3 24 | $-13.8M | $-68.6M | ||
| Q2 24 | $-2.7M | $-79.0M | ||
| Q1 24 | $-16.6M | $-193.9M |
| Q4 25 | 17.5% | -48.6% | ||
| Q3 25 | 1.4% | -58.0% | ||
| Q2 25 | -22.4% | -66.5% | ||
| Q1 25 | -24.1% | -120.5% | ||
| Q4 24 | 4.6% | -48.3% | ||
| Q3 24 | -12.0% | -49.2% | ||
| Q2 24 | -2.6% | -53.7% | ||
| Q1 24 | -16.1% | -178.2% |
| Q4 25 | 13.0% | 0.5% | ||
| Q3 25 | 15.5% | 0.8% | ||
| Q2 25 | 22.7% | 1.5% | ||
| Q1 25 | 16.9% | 1.0% | ||
| Q4 24 | 20.8% | 0.1% | ||
| Q3 24 | 16.9% | 1.2% | ||
| Q2 24 | 10.7% | 1.4% | ||
| Q1 24 | 1.6% | 3.0% |
| Q4 25 | 3.43× | — | ||
| Q3 25 | 6.29× | — | ||
| Q2 25 | 0.19× | — | ||
| Q1 25 | -4.31× | — | ||
| Q4 24 | 4.43× | — | ||
| Q3 24 | 1.42× | — | ||
| Q2 24 | — | — | ||
| Q1 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
LINC
| Transferred Over Time | $136.0M | 95% |
| Transferred At Point In Time | $6.9M | 5% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
