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MALIBU BOATS, INC.（MBUU）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MALIBU BOATS, INC.的1.1倍（$207.3M vs $188.6M），MALIBU BOATS, INC.净利率更高（-1.3% vs -62.0%，领先60.7%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -5.8%），MALIBU BOATS, INC.自由现金流更多（$8.2M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -3.7%）
马里布游艇是美国休闲游艇制造商，1982年创立于加利福尼亚州默塞德，现总部位于田纳西州洛登，在澳大利亚新南威尔士州也设有生产基地。它是全球最大的水上运动拖船制造商，产品可供休闲使用，也应用于滑水、尾波滑板等各类赛事活动。
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。
MBUU vs RARE — 直观对比
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $188.6M | $207.3M |
| 净利润 | $-2.5M | $-128.6M |
| 毛利率 | 13.3% | — |
| 营业利润率 | -1.9% | -54.7% |
| 净利率 | -1.3% | -62.0% |
| 营收同比 | -5.8% | 25.9% |
| 净利润同比 | -204.2% | 3.5% |
| 每股收益（稀释后） | $-0.13 | $-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 | $188.6M | $207.3M | ||
| Q3 25 | $194.7M | $159.9M | ||
| Q2 25 | $207.0M | $166.5M | ||
| Q1 25 | $228.7M | $139.3M | ||
| Q4 24 | $200.3M | $164.6M | ||
| Q3 24 | $171.6M | $139.5M | ||
| Q2 24 | $158.7M | $147.0M | ||
| Q1 24 | $203.4M | $108.8M |
| Q4 25 | $-2.5M | $-128.6M | ||
| Q3 25 | $-702.0K | $-180.4M | ||
| Q2 25 | $4.7M | $-115.0M | ||
| Q1 25 | $12.9M | $-151.1M | ||
| Q4 24 | $2.4M | $-133.2M | ||
| Q3 24 | $-5.0M | $-133.5M | ||
| Q2 24 | $-19.2M | $-131.6M | ||
| Q1 24 | $-66.8M | $-170.7M |
| Q4 25 | 13.3% | — | ||
| Q3 25 | 14.3% | — | ||
| Q2 25 | 15.8% | — | ||
| Q1 25 | 20.0% | — | ||
| Q4 24 | 18.7% | — | ||
| Q3 24 | 16.4% | — | ||
| Q2 24 | 7.9% | — | ||
| Q1 24 | 19.8% | — |
| Q4 25 | -1.9% | -54.7% | ||
| Q3 25 | -0.4% | -106.9% | ||
| Q2 25 | 3.3% | -64.8% | ||
| Q1 25 | 7.6% | -102.6% | ||
| Q4 24 | 1.6% | -74.3% | ||
| Q3 24 | -3.3% | -94.6% | ||
| Q2 24 | -15.4% | -79.1% | ||
| Q1 24 | -36.8% | -151.9% |
| Q4 25 | -1.3% | -62.0% | ||
| Q3 25 | -0.4% | -112.8% | ||
| Q2 25 | 2.3% | -69.0% | ||
| Q1 25 | 5.6% | -108.5% | ||
| Q4 24 | 1.2% | -80.9% | ||
| Q3 24 | -2.9% | -95.7% | ||
| Q2 24 | -12.1% | -89.5% | ||
| Q1 24 | -32.9% | -156.8% |
| Q4 25 | $-0.13 | $-1.28 | ||
| Q3 25 | $-0.04 | $-1.81 | ||
| Q2 25 | $0.23 | $-1.17 | ||
| Q1 25 | $0.66 | $-1.57 | ||
| Q4 24 | $0.12 | $-1.34 | ||
| Q3 24 | $-0.25 | $-1.40 | ||
| Q2 24 | $-0.93 | $-1.52 | ||
| Q1 24 | $-3.28 | $-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 | $28.2M | $421.0M |
| 总债务越低越好 | $20.0M | — |
| 股东权益账面价值 | $495.0M | $-80.0M |
| 总资产 | $715.7M | $1.5B |
| 负债/权益比越低杠杆越低 | 0.04× | — |
8季度趋势，按日历期对齐
| Q4 25 | $28.2M | $421.0M | ||
| Q3 25 | $44.1M | $202.5M | ||
| Q2 25 | $37.0M | $176.3M | ||
| Q1 25 | $38.7M | $127.1M | ||
| Q4 24 | $35.1M | $174.0M | ||
| Q3 24 | $27.7M | $150.6M | ||
| Q2 24 | $26.9M | $480.7M | ||
| Q1 24 | $47.1M | $112.3M |
| Q4 25 | $20.0M | — | ||
| Q3 25 | $23.0M | — | ||
| Q2 25 | $18.0M | — | ||
| Q1 25 | $28.0M | — | ||
| Q4 24 | $23.0M | — | ||
| Q3 24 | $28.0M | — | ||
| Q2 24 | $0 | — | ||
| Q1 24 | $15.0M | — |
| Q4 25 | $495.0M | $-80.0M | ||
| Q3 25 | $516.4M | $9.2M | ||
| Q2 25 | $515.5M | $151.3M | ||
| Q1 25 | $513.0M | $144.2M | ||
| Q4 24 | $509.8M | $255.0M | ||
| Q3 24 | $517.7M | $346.8M | ||
| Q2 24 | $530.0M | $432.4M | ||
| Q1 24 | $557.2M | $140.3M |
| Q4 25 | $715.7M | $1.5B | ||
| Q3 25 | $755.6M | $1.2B | ||
| Q2 25 | $734.6M | $1.3B | ||
| Q1 25 | $758.8M | $1.3B | ||
| Q4 24 | $738.7M | $1.5B | ||
| Q3 24 | $759.1M | $1.5B | ||
| Q2 24 | $739.6M | $1.6B | ||
| Q1 24 | $797.6M | $1.3B |
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.03× | — | ||
| Q1 25 | 0.05× | — | ||
| Q4 24 | 0.05× | — | ||
| Q3 24 | 0.05× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 0.03× | — |
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 | $12.6M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $8.2M | $-100.8M |
| 自由现金流率自由现金流/营收 | 4.4% | -48.6% |
| 资本支出强度资本支出/营收 | 2.3% | 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 | $33.3M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $12.6M | $-99.8M | ||
| Q3 25 | $6.5M | $-91.4M | ||
| Q2 25 | $21.0M | $-108.3M | ||
| Q1 25 | $15.5M | $-166.5M | ||
| Q4 24 | $28.4M | $-79.3M | ||
| Q3 24 | $-8.4M | $-67.0M | ||
| Q2 24 | $16.3M | $-77.0M | ||
| Q1 24 | $23.5M | $-190.7M |
| Q4 25 | $8.2M | $-100.8M | ||
| Q3 25 | $2.2M | $-92.7M | ||
| Q2 25 | $14.1M | $-110.7M | ||
| Q1 25 | $8.8M | $-167.8M | ||
| Q4 24 | $22.8M | $-79.5M | ||
| Q3 24 | $-17.0M | $-68.6M | ||
| Q2 24 | $4.5M | $-79.0M | ||
| Q1 24 | $11.5M | $-193.9M |
| Q4 25 | 4.4% | -48.6% | ||
| Q3 25 | 1.1% | -58.0% | ||
| Q2 25 | 6.8% | -66.5% | ||
| Q1 25 | 3.8% | -120.5% | ||
| Q4 24 | 11.4% | -48.3% | ||
| Q3 24 | -9.9% | -49.2% | ||
| Q2 24 | 2.8% | -53.7% | ||
| Q1 24 | 5.7% | -178.2% |
| Q4 25 | 2.3% | 0.5% | ||
| Q3 25 | 2.2% | 0.8% | ||
| Q2 25 | 3.4% | 1.5% | ||
| Q1 25 | 2.9% | 1.0% | ||
| Q4 24 | 2.8% | 0.1% | ||
| Q3 24 | 5.0% | 1.2% | ||
| Q2 24 | 7.5% | 1.4% | ||
| Q1 24 | 5.9% | 3.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 4.50× | — | ||
| Q1 25 | 1.20× | — | ||
| Q4 24 | 12.02× | — | ||
| Q3 24 | — | — | ||
| 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
MBUU
| Boatand Trailer Sales | $68.1M | 36% |
| Saltwater Fishing | $65.3M | 35% |
| Cobalt | $52.6M | 28% |
| Part And Other Sales | $2.6M | 1% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
