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埃克西尔能源（NINE）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.的季度营收约是埃克西尔能源的1.6倍（$207.3M vs $132.2M），埃克西尔能源净利率更高（-14.5% vs -62.0%，领先47.5%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -6.5%），埃克西尔能源自由现金流更多（$-4.8M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -3.6%）
埃克西尔能源是一家受美国监管的电力与天然气配送企业，总部位于明尼苏达州明尼阿波利斯。截至2025年年中，公司业务覆盖八个州的部分区域，服务约390万电力客户与220万天然气客户，下设四家运营子公司，分别为明尼苏达北州电力、威斯康星北州电力、科罗拉多公共服务公司以及西南公共服务公司。
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。
NINE vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $132.2M | $207.3M |
| 净利润 | $-19.2M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | -4.2% | -54.7% |
| 净利率 | -14.5% | -62.0% |
| 营收同比 | -6.5% | 25.9% |
| 净利润同比 | -117.4% | 3.5% |
| 每股收益（稀释后） | $-0.47 | $-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 | $132.2M | $207.3M | ||
| Q3 25 | $132.0M | $159.9M | ||
| Q2 25 | $147.3M | $166.5M | ||
| Q1 25 | $150.5M | $139.3M | ||
| Q4 24 | $141.4M | $164.6M | ||
| Q3 24 | $138.2M | $139.5M | ||
| Q2 24 | $132.4M | $147.0M | ||
| Q1 24 | $142.1M | $108.8M |
| Q4 25 | $-19.2M | $-128.6M | ||
| Q3 25 | $-14.6M | $-180.4M | ||
| Q2 25 | $-10.4M | $-115.0M | ||
| Q1 25 | $-7.1M | $-151.1M | ||
| Q4 24 | $-8.8M | $-133.2M | ||
| Q3 24 | $-10.1M | $-133.5M | ||
| Q2 24 | $-14.0M | $-131.6M | ||
| Q1 24 | $-8.1M | $-170.7M |
| Q4 25 | -4.2% | -54.7% | ||
| Q3 25 | -0.9% | -106.9% | ||
| Q2 25 | 2.3% | -64.8% | ||
| Q1 25 | 3.7% | -102.6% | ||
| Q4 24 | 2.5% | -74.3% | ||
| Q3 24 | 1.8% | -94.6% | ||
| Q2 24 | -1.1% | -79.1% | ||
| Q1 24 | 3.1% | -151.9% |
| Q4 25 | -14.5% | -62.0% | ||
| Q3 25 | -11.1% | -112.8% | ||
| Q2 25 | -7.1% | -69.0% | ||
| Q1 25 | -4.7% | -108.5% | ||
| Q4 24 | -6.3% | -80.9% | ||
| Q3 24 | -7.3% | -95.7% | ||
| Q2 24 | -10.6% | -89.5% | ||
| Q1 24 | -5.7% | -156.8% |
| Q4 25 | $-0.47 | $-1.28 | ||
| Q3 25 | $-0.35 | $-1.81 | ||
| Q2 25 | $-0.25 | $-1.17 | ||
| Q1 25 | $-0.18 | $-1.57 | ||
| Q4 24 | $-0.21 | $-1.34 | ||
| Q3 24 | $-0.26 | $-1.40 | ||
| Q2 24 | $-0.40 | $-1.52 | ||
| Q1 24 | $-0.24 | $-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 | $18.4M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-115.0M | $-80.0M |
| 总资产 | $339.5M | $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 | $18.4M | $421.0M | ||
| Q3 25 | $14.4M | $202.5M | ||
| Q2 25 | $14.2M | $176.3M | ||
| Q1 25 | $17.3M | $127.1M | ||
| Q4 24 | $27.9M | $174.0M | ||
| Q3 24 | $15.7M | $150.6M | ||
| Q2 24 | $26.0M | $480.7M | ||
| Q1 24 | $10.2M | $112.3M |
| Q4 25 | $-115.0M | $-80.0M | ||
| Q3 25 | $-95.9M | $9.2M | ||
| Q2 25 | $-81.7M | $151.3M | ||
| Q1 25 | $-72.1M | $144.2M | ||
| Q4 24 | $-66.1M | $255.0M | ||
| Q3 24 | $-57.6M | $346.8M | ||
| Q2 24 | $-49.7M | $432.4M | ||
| Q1 24 | $-43.3M | $140.3M |
| Q4 25 | $339.5M | $1.5B | ||
| Q3 25 | $340.7M | $1.2B | ||
| Q2 25 | $361.2M | $1.3B | ||
| Q1 25 | $359.2M | $1.3B | ||
| Q4 24 | $360.1M | $1.5B | ||
| Q3 24 | $353.2M | $1.5B | ||
| Q2 24 | $381.7M | $1.6B | ||
| Q1 24 | $380.4M | $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 | $-2.2M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $-4.8M | $-100.8M |
| 自由现金流率自由现金流/营收 | -3.6% | -48.6% |
| 资本支出强度资本支出/营收 | 2.0% | 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 | $-23.3M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $-2.2M | $-99.8M | ||
| Q3 25 | $-9.9M | $-91.4M | ||
| Q2 25 | $10.1M | $-108.3M | ||
| Q1 25 | $-5.3M | $-166.5M | ||
| Q4 24 | $15.0M | $-79.3M | ||
| Q3 24 | $-5.8M | $-67.0M | ||
| Q2 24 | $12.9M | $-77.0M | ||
| Q1 24 | $-8.8M | $-190.7M |
| Q4 25 | $-4.8M | $-100.8M | ||
| Q3 25 | $-13.4M | $-92.7M | ||
| Q2 25 | $4.2M | $-110.7M | ||
| Q1 25 | $-9.3M | $-167.8M | ||
| Q4 24 | $11.8M | $-79.5M | ||
| Q3 24 | $-9.3M | $-68.6M | ||
| Q2 24 | $10.3M | $-79.0M | ||
| Q1 24 | $-14.3M | $-193.9M |
| Q4 25 | -3.6% | -48.6% | ||
| Q3 25 | -10.2% | -58.0% | ||
| Q2 25 | 2.9% | -66.5% | ||
| Q1 25 | -6.2% | -120.5% | ||
| Q4 24 | 8.3% | -48.3% | ||
| Q3 24 | -6.7% | -49.2% | ||
| Q2 24 | 7.7% | -53.7% | ||
| Q1 24 | -10.1% | -178.2% |
| Q4 25 | 2.0% | 0.5% | ||
| Q3 25 | 2.6% | 0.8% | ||
| Q2 25 | 4.0% | 1.5% | ||
| Q1 25 | 2.6% | 1.0% | ||
| Q4 24 | 2.3% | 0.1% | ||
| Q3 24 | 2.5% | 1.2% | ||
| Q2 24 | 2.0% | 1.4% | ||
| Q1 24 | 3.9% | 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
NINE
| Cement | $52.6M | 40% |
| Tool Revenue | $28.6M | 22% |
| Coiled Tubing | $25.8M | 20% |
| Wireline | $25.1M | 19% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
