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MACERICH CO（MAC）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
MACERICH CO的季度营收约是Ultragenyx Pharmaceutical Inc.的1.3倍（$261.7M vs $207.3M），MACERICH CO净利率更高（-7.2% vs -62.0%，领先54.9%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -4.4%），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 12.0%）
Macerich是一家专注于购物中心投资的房地产投资信托基金，为美国第三大购物中心持有及运营商。截至2024年12月31日，公司共持有43处物业的权益，可租赁总面积达4300万平方英尺，公司名称由创始人Mace Siegel与Richard Cohen的名字组合而来。
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。
MAC vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $261.7M | $207.3M |
| 净利润 | $-18.8M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | — | -54.7% |
| 净利率 | -7.2% | -62.0% |
| 营收同比 | -4.4% | 25.9% |
| 净利润同比 | 91.1% | 3.5% |
| 每股收益（稀释后） | $-0.08 | $-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 | $261.7M | $207.3M | ||
| Q3 25 | $253.3M | $159.9M | ||
| Q2 25 | $249.8M | $166.5M | ||
| Q1 25 | $249.2M | $139.3M | ||
| Q4 24 | $273.7M | $164.6M | ||
| Q3 24 | $220.2M | $139.5M | ||
| Q2 24 | $215.5M | $147.0M | ||
| Q1 24 | $208.8M | $108.8M |
| Q4 25 | $-18.8M | $-128.6M | ||
| Q3 25 | $-87.4M | $-180.4M | ||
| Q2 25 | $-40.9M | $-115.0M | ||
| Q1 25 | $-50.1M | $-151.1M | ||
| Q4 24 | $-211.2M | $-133.2M | ||
| Q3 24 | $-108.2M | $-133.5M | ||
| Q2 24 | $252.0M | $-131.6M | ||
| Q1 24 | $-126.7M | $-170.7M |
| Q4 25 | — | -54.7% | ||
| Q3 25 | — | -106.9% | ||
| Q2 25 | — | -64.8% | ||
| Q1 25 | — | -102.6% | ||
| Q4 24 | — | -74.3% | ||
| Q3 24 | — | -94.6% | ||
| Q2 24 | — | -79.1% | ||
| Q1 24 | — | -151.9% |
| Q4 25 | -7.2% | -62.0% | ||
| Q3 25 | -34.5% | -112.8% | ||
| Q2 25 | -16.4% | -69.0% | ||
| Q1 25 | -20.1% | -108.5% | ||
| Q4 24 | -77.2% | -80.9% | ||
| Q3 24 | -49.1% | -95.7% | ||
| Q2 24 | 116.9% | -89.5% | ||
| Q1 24 | -60.7% | -156.8% |
| Q4 25 | $-0.08 | $-1.28 | ||
| Q3 25 | $-0.34 | $-1.81 | ||
| Q2 25 | $-0.16 | $-1.17 | ||
| Q1 25 | $-0.20 | $-1.57 | ||
| Q4 24 | $-0.95 | $-1.34 | ||
| Q3 24 | $-0.50 | $-1.40 | ||
| Q2 24 | $1.16 | $-1.52 | ||
| Q1 24 | $-0.59 | $-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 | $280.2M | $421.0M |
| 总债务越低越好 | $5.1B | — |
| 股东权益账面价值 | $2.4B | $-80.0M |
| 总资产 | $8.4B | $1.5B |
| 负债/权益比越低杠杆越低 | 2.07× | — |
8季度趋势，按日历期对齐
| Q4 25 | $280.2M | $421.0M | ||
| Q3 25 | $290.2M | $202.5M | ||
| Q2 25 | $131.1M | $176.3M | ||
| Q1 25 | $253.2M | $127.1M | ||
| Q4 24 | $89.9M | $174.0M | ||
| Q3 24 | $116.5M | $150.6M | ||
| Q2 24 | $70.7M | $480.7M | ||
| Q1 24 | $120.1M | $112.3M |
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.1B | — | ||
| Q2 25 | $5.2B | — | ||
| Q1 25 | $5.2B | — | ||
| Q4 24 | $4.9B | — | ||
| Q3 24 | $4.3B | — | ||
| Q2 24 | $4.4B | — | ||
| Q1 24 | $4.1B | — |
| Q4 25 | $2.4B | $-80.0M | ||
| Q3 25 | $2.5B | $9.2M | ||
| Q2 25 | $2.6B | $151.3M | ||
| Q1 25 | $2.7B | $144.2M | ||
| Q4 24 | $2.8B | $255.0M | ||
| Q3 24 | $2.5B | $346.8M | ||
| Q2 24 | $2.5B | $432.4M | ||
| Q1 24 | $2.3B | $140.3M |
| Q4 25 | $8.4B | $1.5B | ||
| Q3 25 | $8.4B | $1.2B | ||
| Q2 25 | $8.7B | $1.3B | ||
| Q1 25 | $8.7B | $1.3B | ||
| Q4 24 | $8.6B | $1.5B | ||
| Q3 24 | $7.6B | $1.5B | ||
| Q2 24 | $7.8B | $1.6B | ||
| Q1 24 | $7.4B | $1.3B |
| Q4 25 | 2.07× | — | ||
| Q3 25 | 2.02× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 1.96× | — | ||
| Q4 24 | 1.78× | — | ||
| Q3 24 | 1.73× | — | ||
| Q2 24 | 1.75× | — | ||
| Q1 24 | 1.79× | — |
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 | $50.2M | $-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 | — | 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
| Q4 25 | $50.2M | $-99.8M | ||
| Q3 25 | $112.4M | $-91.4M | ||
| Q2 25 | $70.5M | $-108.3M | ||
| Q1 25 | $88.5M | $-166.5M | ||
| Q4 24 | $54.9M | $-79.3M | ||
| Q3 24 | $100.0M | $-67.0M | ||
| Q2 24 | $67.4M | $-77.0M | ||
| Q1 24 | $61.1M | $-190.7M |
| Q4 25 | — | $-100.8M | ||
| Q3 25 | — | $-92.7M | ||
| Q2 25 | — | $-110.7M | ||
| Q1 25 | — | $-167.8M | ||
| Q4 24 | — | $-79.5M | ||
| Q3 24 | — | $-68.6M | ||
| Q2 24 | — | $-79.0M | ||
| Q1 24 | — | $-193.9M |
| Q4 25 | — | -48.6% | ||
| Q3 25 | — | -58.0% | ||
| Q2 25 | — | -66.5% | ||
| Q1 25 | — | -120.5% | ||
| Q4 24 | — | -48.3% | ||
| Q3 24 | — | -49.2% | ||
| Q2 24 | — | -53.7% | ||
| Q1 24 | — | -178.2% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 3.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.27× | — | ||
| 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
MAC
暂无分部数据
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
