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迈梭电子（MEI）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
迈梭电子的季度营收约是Ultragenyx Pharmaceutical Inc.的1.2倍（$246.9M vs $207.3M），迈梭电子净利率更高（-4.0% vs -62.0%，领先58.0%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -15.6%），迈梭电子自由现金流更多（$-11.6M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -2.5%）
迈梭电子是一家总部位于美国伊利诺伊州芝加哥的跨国企业，主要业务涵盖工程研发、生产制造与销售服务，目前在全球14个国家设有超过35个运营网点，全球员工总数约6500人。
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。
MEI vs RARE — 直观对比
营收规模更大
MEI
是对方的1.2倍
$207.3M
营收增速更快
RARE
高出41.5%
-15.6%
净利率更高
MEI
高出58.0%
-62.0%
自由现金流更多
MEI
多$89.2M
$-100.8M
两年增速更快
RARE
近两年复合增速
-2.5%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $246.9M | $207.3M |
| 净利润 | $-9.9M | $-128.6M |
| 毛利率 | 19.3% | — |
| 营业利润率 | 1.2% | -54.7% |
| 净利率 | -4.0% | -62.0% |
| 营收同比 | -15.6% | 25.9% |
| 净利润同比 | -518.8% | 3.5% |
| 每股收益（稀释后） | $-0.28 | $-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MEIRARE
| Q4 25 | $246.9M | $207.3M | ||
| Q3 25 | $240.5M | $159.9M | ||
| Q2 25 | $257.1M | $166.5M | ||
| Q1 25 | $239.9M | $139.3M | ||
| Q4 24 | $292.6M | $164.6M | ||
| Q3 24 | $258.5M | $139.5M | ||
| Q2 24 | $277.3M | $147.0M | ||
| Q1 24 | $259.5M | $108.8M |
净利润MEIRARE
| Q4 25 | $-9.9M | $-128.6M | ||
| Q3 25 | $-10.3M | $-180.4M | ||
| Q2 25 | $-28.3M | $-115.0M | ||
| Q1 25 | $-14.4M | $-151.1M | ||
| Q4 24 | $-1.6M | $-133.2M | ||
| Q3 24 | $-18.3M | $-133.5M | ||
| Q2 24 | $-57.3M | $-131.6M | ||
| Q1 24 | $-11.6M | $-170.7M |
毛利率MEIRARE
| Q4 25 | 19.3% | — | ||
| Q3 25 | 18.1% | — | ||
| Q2 25 | 7.6% | — | ||
| Q1 25 | 17.2% | — | ||
| Q4 24 | 19.8% | — | ||
| Q3 24 | 17.3% | — | ||
| Q2 24 | 12.8% | — | ||
| Q1 24 | 14.3% | — |
营业利润率MEIRARE
| Q4 25 | 1.2% | -54.7% | ||
| Q3 25 | 0.5% | -106.9% | ||
| Q2 25 | -9.2% | -64.8% | ||
| Q1 25 | -0.9% | -102.6% | ||
| Q4 24 | 3.2% | -74.3% | ||
| Q3 24 | -2.9% | -94.6% | ||
| Q2 24 | -22.2% | -79.1% | ||
| Q1 24 | -1.2% | -151.9% |
净利率MEIRARE
| Q4 25 | -4.0% | -62.0% | ||
| Q3 25 | -4.3% | -112.8% | ||
| Q2 25 | -11.0% | -69.0% | ||
| Q1 25 | -6.0% | -108.5% | ||
| Q4 24 | -0.5% | -80.9% | ||
| Q3 24 | -7.1% | -95.7% | ||
| Q2 24 | -20.7% | -89.5% | ||
| Q1 24 | -4.5% | -156.8% |
每股收益（稀释后）MEIRARE
| Q4 25 | $-0.28 | $-1.28 | ||
| Q3 25 | $-0.29 | $-1.81 | ||
| Q2 25 | $-0.79 | $-1.17 | ||
| Q1 25 | $-0.41 | $-1.57 | ||
| Q4 24 | $-0.05 | $-1.34 | ||
| Q3 24 | $-0.52 | $-1.40 | ||
| Q2 24 | $-1.62 | $-1.52 | ||
| Q1 24 | $-0.33 | $-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 | $118.5M | $421.0M |
| 总债务越低越好 | $332.5M | — |
| 股东权益账面价值 | $679.3M | $-80.0M |
| 总资产 | $1.3B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.49× | — |
8季度趋势，按日历期对齐
现金及短期投资MEIRARE
| Q4 25 | $118.5M | $421.0M | ||
| Q3 25 | $121.1M | $202.5M | ||
| Q2 25 | $103.6M | $176.3M | ||
| Q1 25 | $103.8M | $127.1M | ||
| Q4 24 | $97.0M | $174.0M | ||
| Q3 24 | $111.3M | $150.6M | ||
| Q2 24 | $161.5M | $480.7M | ||
| Q1 24 | $122.9M | $112.3M |
总债务MEIRARE
| Q4 25 | $332.5M | — | ||
| Q3 25 | $323.4M | — | ||
| Q2 25 | $317.6M | — | ||
| Q1 25 | $327.9M | — | ||
| Q4 24 | $340.6M | — | ||
| Q3 24 | $296.0M | — | ||
| Q2 24 | $330.9M | — | ||
| Q1 24 | $331.3M | — |
股东权益MEIRARE
| Q4 25 | $679.3M | $-80.0M | ||
| Q3 25 | $688.1M | $9.2M | ||
| Q2 25 | $693.3M | $151.3M | ||
| Q1 25 | $704.3M | $144.2M | ||
| Q4 24 | $738.3M | $255.0M | ||
| Q3 24 | $744.4M | $346.8M | ||
| Q2 24 | $766.0M | $432.4M | ||
| Q1 24 | $835.0M | $140.3M |
总资产MEIRARE
| Q4 25 | $1.3B | $1.5B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.4B | $1.5B | ||
| Q3 24 | $1.4B | $1.5B | ||
| Q2 24 | $1.4B | $1.6B | ||
| Q1 24 | $1.5B | $1.3B |
负债/权益比MEIRARE
| Q4 25 | 0.49× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 0.46× | — | ||
| Q3 24 | 0.40× | — | ||
| Q2 24 | 0.43× | — | ||
| Q1 24 | 0.40× | — |
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 | $-7.4M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $-11.6M | $-100.8M |
| 自由现金流率自由现金流/营收 | -4.7% | -48.6% |
| 资本支出强度资本支出/营收 | 1.7% | 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 | $52.3M | $-472.0M |
8季度趋势，按日历期对齐
经营现金流MEIRARE
| Q4 25 | $-7.4M | $-99.8M | ||
| Q3 25 | $25.1M | $-91.4M | ||
| Q2 25 | $35.4M | $-108.3M | ||
| Q1 25 | $28.1M | $-166.5M | ||
| Q4 24 | $-48.0M | $-79.3M | ||
| Q3 24 | $10.9M | $-67.0M | ||
| Q2 24 | $24.9M | $-77.0M | ||
| Q1 24 | $28.8M | $-190.7M |
自由现金流MEIRARE
| Q4 25 | $-11.6M | $-100.8M | ||
| Q3 25 | $18.0M | $-92.7M | ||
| Q2 25 | $26.3M | $-110.7M | ||
| Q1 25 | $19.6M | $-167.8M | ||
| Q4 24 | $-58.4M | $-79.5M | ||
| Q3 24 | $-2.7M | $-68.6M | ||
| Q2 24 | $15.8M | $-79.0M | ||
| Q1 24 | $12.2M | $-193.9M |
自由现金流率MEIRARE
| Q4 25 | -4.7% | -48.6% | ||
| Q3 25 | 7.5% | -58.0% | ||
| Q2 25 | 10.2% | -66.5% | ||
| Q1 25 | 8.2% | -120.5% | ||
| Q4 24 | -20.0% | -48.3% | ||
| Q3 24 | -1.0% | -49.2% | ||
| Q2 24 | 5.7% | -53.7% | ||
| Q1 24 | 4.7% | -178.2% |
资本支出强度MEIRARE
| Q4 25 | 1.7% | 0.5% | ||
| Q3 25 | 3.0% | 0.8% | ||
| Q2 25 | 3.5% | 1.5% | ||
| Q1 25 | 3.5% | 1.0% | ||
| Q4 24 | 3.6% | 0.1% | ||
| Q3 24 | 5.3% | 1.2% | ||
| Q2 24 | 3.3% | 1.4% | ||
| Q1 24 | 6.4% | 3.0% |
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
MEI
暂无分部数据
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
