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Northwest Natural Holding Co（NWN）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
Northwest Natural Holding Co的季度营收约是Ultragenyx Pharmaceutical Inc.的1.9倍（$394.2M vs $207.3M），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 6.3%），Ultragenyx Pharmaceutical Inc.自由现金流更多（$-100.8M vs $-131.0M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -4.6%）
西北天然气控股公司是美国上市公用事业企业，总部位于俄勒冈州波特兰，成立于1859年。核心业务为天然气配送，服务俄勒冈州西部、华盛顿州西南部的居民、商业及工业客户，同时运营水务业务，目前服务约80万用户，年营收超10亿美元。
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。
NWN vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $394.2M | $207.3M |
| 净利润 | — | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | 28.4% | -54.7% |
| 净利率 | — | -62.0% |
| 营收同比 | 6.3% | 25.9% |
| 净利润同比 | — | 3.5% |
| 每股收益（稀释后） | $1.38 | $-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 | $394.2M | $207.3M | ||
| Q3 25 | $164.7M | $159.9M | ||
| Q2 25 | $236.2M | $166.5M | ||
| Q1 25 | $494.3M | $139.3M | ||
| Q4 24 | $370.9M | $164.6M | ||
| Q3 24 | $136.9M | $139.5M | ||
| Q2 24 | $211.7M | $147.0M | ||
| Q1 24 | $433.5M | $108.8M |
| Q4 25 | — | $-128.6M | ||
| Q3 25 | $-29.9M | $-180.4M | ||
| Q2 25 | $-2.5M | $-115.0M | ||
| Q1 25 | $87.9M | $-151.1M | ||
| Q4 24 | — | $-133.2M | ||
| Q3 24 | $-27.2M | $-133.5M | ||
| Q2 24 | $-2.8M | $-131.6M | ||
| Q1 24 | $63.8M | $-170.7M |
| Q4 25 | 28.4% | -54.7% | ||
| Q3 25 | -7.5% | -106.9% | ||
| Q2 25 | 11.5% | -64.8% | ||
| Q1 25 | 31.2% | -102.6% | ||
| Q4 24 | 22.9% | -74.3% | ||
| Q3 24 | -14.1% | -94.6% | ||
| Q2 24 | 7.4% | -79.1% | ||
| Q1 24 | 25.3% | -151.9% |
| Q4 25 | — | -62.0% | ||
| Q3 25 | -18.1% | -112.8% | ||
| Q2 25 | -1.1% | -69.0% | ||
| Q1 25 | 17.8% | -108.5% | ||
| Q4 24 | — | -80.9% | ||
| Q3 24 | -19.8% | -95.7% | ||
| Q2 24 | -1.3% | -89.5% | ||
| Q1 24 | 14.7% | -156.8% |
| Q4 25 | $1.38 | $-1.28 | ||
| Q3 25 | $-0.73 | $-1.81 | ||
| Q2 25 | $-0.06 | $-1.17 | ||
| Q1 25 | $2.18 | $-1.57 | ||
| Q4 24 | $1.12 | $-1.34 | ||
| Q3 24 | $-0.71 | $-1.40 | ||
| Q2 24 | $-0.07 | $-1.52 | ||
| Q1 24 | $1.69 | $-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 | $36.7M | $421.0M |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $1.5B | $-80.0M |
| 总资产 | $6.2B | $1.5B |
| 负债/权益比越低杠杆越低 | 1.65× | — |
8季度趋势，按日历期对齐
| Q4 25 | $36.7M | $421.0M | ||
| Q3 25 | $32.2M | $202.5M | ||
| Q2 25 | $102.6M | $176.3M | ||
| Q1 25 | $100.0M | $127.1M | ||
| Q4 24 | $38.5M | $174.0M | ||
| Q3 24 | $35.0M | $150.6M | ||
| Q2 24 | $65.2M | $480.7M | ||
| Q1 24 | $72.4M | $112.3M |
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.6B | — | ||
| Q1 24 | $1.6B | — |
| Q4 25 | $1.5B | $-80.0M | ||
| Q3 25 | $1.4B | $9.2M | ||
| Q2 25 | $1.5B | $151.3M | ||
| Q1 25 | $1.5B | $144.2M | ||
| Q4 24 | $1.4B | $255.0M | ||
| Q3 24 | $1.4B | $346.8M | ||
| Q2 24 | $1.3B | $432.4M | ||
| Q1 24 | $1.3B | $140.3M |
| Q4 25 | $6.2B | $1.5B | ||
| Q3 25 | $5.9B | $1.2B | ||
| Q2 25 | $5.8B | $1.3B | ||
| Q1 25 | $5.7B | $1.3B | ||
| Q4 24 | $5.2B | $1.5B | ||
| Q3 24 | $4.9B | $1.5B | ||
| Q2 24 | $4.8B | $1.6B | ||
| Q1 24 | $4.8B | $1.3B |
| Q4 25 | 1.65× | — | ||
| Q3 25 | 1.56× | — | ||
| Q2 25 | 1.53× | — | ||
| Q1 25 | 1.53× | — | ||
| Q4 24 | 1.23× | — | ||
| Q3 24 | 1.16× | — | ||
| Q2 24 | 1.17× | — | ||
| Q1 24 | 1.17× | — |
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 | $3.3M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $-131.0M | $-100.8M |
| 自由现金流率自由现金流/营收 | -33.2% | -48.6% |
| 资本支出强度资本支出/营收 | 34.1% | 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 | $-197.8M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $3.3M | $-99.8M | ||
| Q3 25 | $-15.9M | $-91.4M | ||
| Q2 25 | $102.2M | $-108.3M | ||
| Q1 25 | $179.6M | $-166.5M | ||
| Q4 24 | $-19.4M | $-79.3M | ||
| Q3 24 | $-26.4M | $-67.0M | ||
| Q2 24 | $121.0M | $-77.0M | ||
| Q1 24 | $125.0M | $-190.7M |
| Q4 25 | $-131.0M | $-100.8M | ||
| Q3 25 | $-125.9M | $-92.7M | ||
| Q2 25 | $-18.3M | $-110.7M | ||
| Q1 25 | $77.4M | $-167.8M | ||
| Q4 24 | $-119.6M | $-79.5M | ||
| Q3 24 | $-121.7M | $-68.6M | ||
| Q2 24 | $4.3M | $-79.0M | ||
| Q1 24 | $42.8M | $-193.9M |
| Q4 25 | -33.2% | -48.6% | ||
| Q3 25 | -76.4% | -58.0% | ||
| Q2 25 | -7.8% | -66.5% | ||
| Q1 25 | 15.7% | -120.5% | ||
| Q4 24 | -32.2% | -48.3% | ||
| Q3 24 | -88.9% | -49.2% | ||
| Q2 24 | 2.0% | -53.7% | ||
| Q1 24 | 9.9% | -178.2% |
| Q4 25 | 34.1% | 0.5% | ||
| Q3 25 | 66.8% | 0.8% | ||
| Q2 25 | 51.0% | 1.5% | ||
| Q1 25 | 20.7% | 1.0% | ||
| Q4 24 | 27.0% | 0.1% | ||
| Q3 24 | 69.6% | 1.2% | ||
| Q2 24 | 55.1% | 1.4% | ||
| Q1 24 | 19.0% | 3.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 2.04× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.96× | — |
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
NWN
| NWN Gas Utility | $341.4M | 87% |
| Alternativerevenue | $27.2M | 7% |
| Si Energy Gas Utility | $20.0M | 5% |
| NW Natural Other | $6.9M | 2% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
