vs
MARA Holdings, Inc.（MARA）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MARA Holdings, Inc.的1.0倍（$207.3M vs $202.3M），Ultragenyx Pharmaceutical Inc.净利率更高（-62.0% vs -14298.3%，领先14236.3%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -5.6%），Ultragenyx Pharmaceutical Inc.自由现金流更多（$-100.8M vs $-1.2B），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 10.7%）
MARA Holdings, Inc.是一家美国数字资产技术及加密货币挖矿企业，总部位于佛罗里达州劳德代尔堡。公司成立于2010年，最初以专利控股公司的模式运营，2010年代后期转向专注于区块链基础设施与数字资产相关业务。
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。
MARA vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $202.3M | $207.3M |
| 净利润 | $-1.7B | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | -11795.9% | -54.7% |
| 净利率 | -14298.3% | -62.0% |
| 营收同比 | -5.6% | 25.9% |
| 净利润同比 | -423.5% | 3.5% |
| 每股收益（稀释后） | $-4.25 | $-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 | $202.3M | $207.3M | ||
| Q3 25 | $252.4M | $159.9M | ||
| Q2 25 | $238.5M | $166.5M | ||
| Q1 25 | $213.9M | $139.3M | ||
| Q4 24 | $214.4M | $164.6M | ||
| Q3 24 | $131.6M | $139.5M | ||
| Q2 24 | $145.1M | $147.0M | ||
| Q1 24 | $165.2M | $108.8M |
| Q4 25 | $-1.7B | $-128.6M | ||
| Q3 25 | $123.1M | $-180.4M | ||
| Q2 25 | $808.2M | $-115.0M | ||
| Q1 25 | $-533.4M | $-151.1M | ||
| Q4 24 | $528.5M | $-133.2M | ||
| Q3 24 | $-124.8M | $-133.5M | ||
| Q2 24 | $-199.7M | $-131.6M | ||
| Q1 24 | $337.2M | $-170.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -2613.4% | — | ||
| Q3 24 | -1065.0% | — | ||
| Q2 24 | -587.6% | — | ||
| Q1 24 | -289.4% | — |
| Q4 25 | -11795.9% | -54.7% | ||
| Q3 25 | 18.9% | -106.9% | ||
| Q2 25 | — | -64.8% | ||
| Q1 25 | -253.0% | -102.6% | ||
| Q4 24 | — | -74.3% | ||
| Q3 24 | -130.8% | -94.6% | ||
| Q2 24 | -160.1% | -79.1% | ||
| Q1 24 | — | -151.9% |
| Q4 25 | -14298.3% | -62.0% | ||
| Q3 25 | 48.8% | -112.8% | ||
| Q2 25 | 338.9% | -69.0% | ||
| Q1 25 | -249.4% | -108.5% | ||
| Q4 24 | 5367.4% | -80.9% | ||
| Q3 24 | -94.8% | -95.7% | ||
| Q2 24 | -137.6% | -89.5% | ||
| Q1 24 | 204.1% | -156.8% |
| Q4 25 | $-4.25 | $-1.28 | ||
| Q3 25 | $0.27 | $-1.81 | ||
| Q2 25 | $1.84 | $-1.17 | ||
| Q1 25 | $-1.55 | $-1.57 | ||
| Q4 24 | $1.60 | $-1.34 | ||
| Q3 24 | $-0.42 | $-1.40 | ||
| Q2 24 | $-0.72 | $-1.52 | ||
| Q1 24 | $1.26 | $-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 | $547.1M | $421.0M |
| 总债务越低越好 | $3.6B | — |
| 股东权益账面价值 | $3.5B | $-80.0M |
| 总资产 | $7.3B | $1.5B |
| 负债/权益比越低杠杆越低 | 1.04× | — |
8季度趋势，按日历期对齐
| Q4 25 | $547.1M | $421.0M | ||
| Q3 25 | $826.4M | $202.5M | ||
| Q2 25 | $109.5M | $176.3M | ||
| Q1 25 | $196.2M | $127.1M | ||
| Q4 24 | $391.8M | $174.0M | ||
| Q3 24 | $164.3M | $150.6M | ||
| Q2 24 | $256.0M | $480.7M | ||
| Q1 24 | $324.3M | $112.3M |
| Q4 25 | $3.6B | — | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $618.7M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.5B | $-80.0M | ||
| Q3 25 | $5.2B | $9.2M | ||
| Q2 25 | $4.8B | $151.3M | ||
| Q1 25 | $3.7B | $144.2M | ||
| Q4 24 | $4.1B | $255.0M | ||
| Q3 24 | $2.9B | $346.8M | ||
| Q2 24 | $2.6B | $432.4M | ||
| Q1 24 | $2.5B | $140.3M |
| Q4 25 | $7.3B | $1.5B | ||
| Q3 25 | $9.2B | $1.2B | ||
| Q2 25 | $7.7B | $1.3B | ||
| Q1 25 | $6.4B | $1.3B | ||
| Q4 24 | $6.8B | $1.5B | ||
| Q3 24 | $3.6B | $1.5B | ||
| Q2 24 | $3.1B | $1.6B | ||
| Q1 24 | $3.0B | $1.3B |
| Q4 25 | 1.04× | — | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.59× | — | ||
| Q3 24 | 0.22× | — | ||
| 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 | $-802.7M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $-1.2B | $-100.8M |
| 自由现金流率自由现金流/营收 | -598.0% | -48.6% |
| 资本支出强度资本支出/营收 | 201.2% | 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 | $-2.0B | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $-802.7M | $-99.8M | ||
| Q3 25 | $-199.0M | $-91.4M | ||
| Q2 25 | $-163.4M | $-108.3M | ||
| Q1 25 | $-215.5M | $-166.5M | ||
| Q4 24 | $-677.0M | $-79.3M | ||
| Q3 24 | $-160.1M | $-67.0M | ||
| Q2 24 | $-115.2M | $-77.0M | ||
| Q1 24 | $-88.3M | $-190.7M |
| Q4 25 | $-1.2B | $-100.8M | ||
| Q3 25 | $-283.9M | $-92.7M | ||
| Q2 25 | $-282.4M | $-110.7M | ||
| Q1 25 | $-254.3M | $-167.8M | ||
| Q4 24 | $-927.8M | $-79.5M | ||
| Q3 24 | $-198.1M | $-68.6M | ||
| Q2 24 | $-132.4M | $-79.0M | ||
| Q1 24 | $-97.4M | $-193.9M |
| Q4 25 | -598.0% | -48.6% | ||
| Q3 25 | -112.5% | -58.0% | ||
| Q2 25 | -118.4% | -66.5% | ||
| Q1 25 | -118.9% | -120.5% | ||
| Q4 24 | -432.8% | -48.3% | ||
| Q3 24 | -150.5% | -49.2% | ||
| Q2 24 | -91.2% | -53.7% | ||
| Q1 24 | -59.0% | -178.2% |
| Q4 25 | 201.2% | 0.5% | ||
| Q3 25 | 33.6% | 0.8% | ||
| Q2 25 | 49.9% | 1.5% | ||
| Q1 25 | 18.2% | 1.0% | ||
| Q4 24 | 117.0% | 0.1% | ||
| Q3 24 | 28.9% | 1.2% | ||
| Q2 24 | 11.9% | 1.4% | ||
| Q1 24 | 5.5% | 3.0% |
| Q4 25 | — | — | ||
| Q3 25 | -1.62× | — | ||
| Q2 25 | -0.20× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -1.28× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.26× | — |
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
MARA
暂无分部数据
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
