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MERCURY SYSTEMS INC（MRCY）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
MERCURY SYSTEMS INC的季度营收约是Ultragenyx Pharmaceutical Inc.的1.1倍（$232.9M vs $207.3M），MERCURY SYSTEMS INC净利率更高（-6.5% vs -62.0%，领先55.5%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 4.4%），MERCURY SYSTEMS INC自由现金流更多（$45.7M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 5.7%）
Mercury Systems是一家服务于航空航天与国防领域的科技企业，专注于设计、研发及生产开放式架构计算机软硬件产品，覆盖安全嵌入式处理模块与子系统、航电任务计算机及显示器、加固型安全服务器、可信微电子组件与子系统等多类产品。
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。
MRCY vs RARE — 直观对比
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $232.9M | $207.3M |
| 净利润 | $-15.1M | $-128.6M |
| 毛利率 | 26.0% | — |
| 营业利润率 | -4.6% | -54.7% |
| 净利率 | -6.5% | -62.0% |
| 营收同比 | 4.4% | 25.9% |
| 净利润同比 | 14.1% | 3.5% |
| 每股收益（稀释后） | $-0.26 | $-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 | $232.9M | $207.3M | ||
| Q3 25 | $225.2M | $159.9M | ||
| Q2 25 | $273.1M | $166.5M | ||
| Q1 25 | $211.4M | $139.3M | ||
| Q4 24 | $223.1M | $164.6M | ||
| Q3 24 | $204.4M | $139.5M | ||
| Q2 24 | $248.6M | $147.0M | ||
| Q1 24 | $208.3M | $108.8M |
| Q4 25 | $-15.1M | $-128.6M | ||
| Q3 25 | $-12.5M | $-180.4M | ||
| Q2 25 | $16.4M | $-115.0M | ||
| Q1 25 | $-19.2M | $-151.1M | ||
| Q4 24 | $-17.6M | $-133.2M | ||
| Q3 24 | $-17.5M | $-133.5M | ||
| Q2 24 | $-10.8M | $-131.6M | ||
| Q1 24 | $-44.6M | $-170.7M |
| Q4 25 | 26.0% | — | ||
| Q3 25 | 27.9% | — | ||
| Q2 25 | 31.0% | — | ||
| Q1 25 | 27.0% | — | ||
| Q4 24 | 27.3% | — | ||
| Q3 24 | 25.3% | — | ||
| Q2 24 | 29.5% | — | ||
| Q1 24 | 19.5% | — |
| Q4 25 | -4.6% | -54.7% | ||
| Q3 25 | -3.8% | -106.9% | ||
| Q2 25 | 8.6% | -64.8% | ||
| Q1 25 | -8.2% | -102.6% | ||
| Q4 24 | -5.6% | -74.3% | ||
| Q3 24 | -6.6% | -94.6% | ||
| Q2 24 | -3.2% | -79.1% | ||
| Q1 24 | -21.9% | -151.9% |
| Q4 25 | -6.5% | -62.0% | ||
| Q3 25 | -5.6% | -112.8% | ||
| Q2 25 | 6.0% | -69.0% | ||
| Q1 25 | -9.1% | -108.5% | ||
| Q4 24 | -7.9% | -80.9% | ||
| Q3 24 | -8.6% | -95.7% | ||
| Q2 24 | -4.3% | -89.5% | ||
| Q1 24 | -21.4% | -156.8% |
| Q4 25 | $-0.26 | $-1.28 | ||
| Q3 25 | $-0.21 | $-1.81 | ||
| Q2 25 | $0.28 | $-1.17 | ||
| Q1 25 | $-0.33 | $-1.57 | ||
| Q4 24 | $-0.30 | $-1.34 | ||
| Q3 24 | $-0.30 | $-1.40 | ||
| Q2 24 | $-0.18 | $-1.52 | ||
| Q1 24 | $-0.77 | $-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 | $335.0M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $-80.0M |
| 总资产 | $2.5B | $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 | $335.0M | $421.0M | ||
| Q3 25 | $304.7M | $202.5M | ||
| Q2 25 | $309.1M | $176.3M | ||
| Q1 25 | $269.8M | $127.1M | ||
| Q4 24 | $242.6M | $174.0M | ||
| Q3 24 | $158.1M | $150.6M | ||
| Q2 24 | $180.5M | $480.7M | ||
| Q1 24 | $142.6M | $112.3M |
| Q4 25 | $1.5B | $-80.0M | ||
| Q3 25 | $1.5B | $9.2M | ||
| Q2 25 | $1.5B | $151.3M | ||
| Q1 25 | $1.5B | $144.2M | ||
| Q4 24 | $1.5B | $255.0M | ||
| Q3 24 | $1.5B | $346.8M | ||
| Q2 24 | $1.5B | $432.4M | ||
| Q1 24 | $1.5B | $140.3M |
| Q4 25 | $2.5B | $1.5B | ||
| Q3 25 | $2.5B | $1.2B | ||
| Q2 25 | $2.4B | $1.3B | ||
| Q1 25 | $2.4B | $1.3B | ||
| Q4 24 | $2.4B | $1.5B | ||
| Q3 24 | $2.4B | $1.5B | ||
| Q2 24 | $2.4B | $1.6B | ||
| Q1 24 | $2.4B | $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 | $51.6M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $45.7M | $-100.8M |
| 自由现金流率自由现金流/营收 | 19.6% | -48.6% |
| 资本支出强度资本支出/营收 | 2.5% | 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 | $99.4M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $51.6M | $-99.8M | ||
| Q3 25 | $2.2M | $-91.4M | ||
| Q2 25 | $38.1M | $-108.3M | ||
| Q1 25 | $30.0M | $-166.5M | ||
| Q4 24 | $85.5M | $-79.3M | ||
| Q3 24 | $-14.7M | $-67.0M | ||
| Q2 24 | $71.8M | $-77.0M | ||
| Q1 24 | $-17.8M | $-190.7M |
| Q4 25 | $45.7M | $-100.8M | ||
| Q3 25 | $-4.4M | $-92.7M | ||
| Q2 25 | $34.0M | $-110.7M | ||
| Q1 25 | $24.1M | $-167.8M | ||
| Q4 24 | $81.9M | $-79.5M | ||
| Q3 24 | $-20.9M | $-68.6M | ||
| Q2 24 | $61.4M | $-79.0M | ||
| Q1 24 | $-25.7M | $-193.9M |
| Q4 25 | 19.6% | -48.6% | ||
| Q3 25 | -1.9% | -58.0% | ||
| Q2 25 | 12.4% | -66.5% | ||
| Q1 25 | 11.4% | -120.5% | ||
| Q4 24 | 36.7% | -48.3% | ||
| Q3 24 | -10.2% | -49.2% | ||
| Q2 24 | 24.7% | -53.7% | ||
| Q1 24 | -12.4% | -178.2% |
| Q4 25 | 2.5% | 0.5% | ||
| Q3 25 | 2.9% | 0.8% | ||
| Q2 25 | 1.5% | 1.5% | ||
| Q1 25 | 2.8% | 1.0% | ||
| Q4 24 | 1.6% | 0.1% | ||
| Q3 24 | 3.1% | 1.2% | ||
| Q2 24 | 4.2% | 1.4% | ||
| Q1 24 | 3.8% | 3.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.33× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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
MRCY
| Airborne | $84.2M | 36% |
| Components | $48.7M | 21% |
| Other End Applications | $36.8M | 16% |
| Electronic Warfare | $27.5M | 12% |
| Other Sensor And Effector Applications | $23.9M | 10% |
| Space | $11.9M | 5% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
