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Paymentus Holdings, Inc.（PAY）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
Paymentus Holdings, Inc.的季度营收约是Ultragenyx Pharmaceutical Inc.的1.6倍（$330.5M vs $207.3M），Paymentus Holdings, Inc.净利率更高（6.3% vs -62.0%，领先68.3%），Paymentus Holdings, Inc.同比增速更快（28.1% vs 25.9%），Paymentus Holdings, Inc.自由现金流更多（$45.0M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 33.7%）
Paymentus Holdings, Inc.是领先的云原生账单支付与客户互动技术服务商，面向公用事业、金融服务、政府、医疗、电信等领域企业提供集成数字支付解决方案、账单自动化工具和自助服务门户，核心业务覆盖北美市场。
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。
PAY vs RARE — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $330.5M | $207.3M |
| 净利润 | $20.7M | $-128.6M |
| 毛利率 | 25.4% | — |
| 营业利润率 | 7.3% | -54.7% |
| 净利率 | 6.3% | -62.0% |
| 营收同比 | 28.1% | 25.9% |
| 净利润同比 | 57.2% | 3.5% |
| 每股收益（稀释后） | $0.16 | $-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 | $330.5M | $207.3M | ||
| Q3 25 | $310.7M | $159.9M | ||
| Q2 25 | $280.1M | $166.5M | ||
| Q1 25 | $275.2M | $139.3M | ||
| Q4 24 | $257.9M | $164.6M | ||
| Q3 24 | $231.6M | $139.5M | ||
| Q2 24 | $197.4M | $147.0M | ||
| Q1 24 | $184.9M | $108.8M |
| Q4 25 | $20.7M | $-128.6M | ||
| Q3 25 | $17.7M | $-180.4M | ||
| Q2 25 | $14.7M | $-115.0M | ||
| Q1 25 | $13.8M | $-151.1M | ||
| Q4 24 | $13.1M | $-133.2M | ||
| Q3 24 | $14.4M | $-133.5M | ||
| Q2 24 | $9.4M | $-131.6M | ||
| Q1 24 | $7.2M | $-170.7M |
| Q4 25 | 25.4% | — | ||
| Q3 25 | 24.1% | — | ||
| Q2 25 | 25.5% | — | ||
| Q1 25 | 24.0% | — | ||
| Q4 24 | 25.6% | — | ||
| Q3 24 | 26.2% | — | ||
| Q2 24 | 29.8% | — | ||
| Q1 24 | 28.5% | — |
| Q4 25 | 7.3% | -54.7% | ||
| Q3 25 | 6.4% | -106.9% | ||
| Q2 25 | 5.7% | -64.8% | ||
| Q1 25 | 5.7% | -102.6% | ||
| Q4 24 | 5.5% | -74.3% | ||
| Q3 24 | 5.2% | -94.6% | ||
| Q2 24 | 5.2% | -79.1% | ||
| Q1 24 | 4.5% | -151.9% |
| Q4 25 | 6.3% | -62.0% | ||
| Q3 25 | 5.7% | -112.8% | ||
| Q2 25 | 5.3% | -69.0% | ||
| Q1 25 | 5.0% | -108.5% | ||
| Q4 24 | 5.1% | -80.9% | ||
| Q3 24 | 6.2% | -95.7% | ||
| Q2 24 | 4.7% | -89.5% | ||
| Q1 24 | 3.9% | -156.8% |
| Q4 25 | $0.16 | $-1.28 | ||
| Q3 25 | $0.14 | $-1.81 | ||
| Q2 25 | $0.11 | $-1.17 | ||
| Q1 25 | $0.11 | $-1.57 | ||
| Q4 24 | $0.11 | $-1.34 | ||
| Q3 24 | $0.11 | $-1.40 | ||
| Q2 24 | $0.07 | $-1.52 | ||
| Q1 24 | $0.06 | $-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 | $320.9M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $560.4M | $-80.0M |
| 总资产 | $667.9M | $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 | $320.9M | $421.0M | ||
| Q3 25 | $287.9M | $202.5M | ||
| Q2 25 | $266.4M | $176.3M | ||
| Q1 25 | $245.8M | $127.1M | ||
| Q4 24 | $205.9M | $174.0M | ||
| Q3 24 | $187.5M | $150.6M | ||
| Q2 24 | $188.8M | $480.7M | ||
| Q1 24 | $180.1M | $112.3M |
| Q4 25 | $560.4M | $-80.0M | ||
| Q3 25 | $537.4M | $9.2M | ||
| Q2 25 | $516.7M | $151.3M | ||
| Q1 25 | $500.4M | $144.2M | ||
| Q4 24 | $485.6M | $255.0M | ||
| Q3 24 | $468.8M | $346.8M | ||
| Q2 24 | $451.6M | $432.4M | ||
| Q1 24 | $439.4M | $140.3M |
| Q4 25 | $667.9M | $1.5B | ||
| Q3 25 | $644.4M | $1.2B | ||
| Q2 25 | $609.5M | $1.3B | ||
| Q1 25 | $590.9M | $1.3B | ||
| Q4 24 | $576.2M | $1.5B | ||
| Q3 24 | $552.9M | $1.5B | ||
| Q2 24 | $527.7M | $1.6B | ||
| Q1 24 | $514.0M | $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 | $45.1M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $45.0M | $-100.8M |
| 自由现金流率自由现金流/营收 | 13.6% | -48.6% |
| 资本支出强度资本支出/营收 | 0.0% | 0.5% |
| 现金转化率经营现金流/净利润 | 2.18× | — |
| 过去12个月自由现金流最近4个季度 | $161.8M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $45.1M | $-99.8M | ||
| Q3 25 | $35.1M | $-91.4M | ||
| Q2 25 | $31.5M | $-108.3M | ||
| Q1 25 | $50.4M | $-166.5M | ||
| Q4 24 | $27.9M | $-79.3M | ||
| Q3 24 | $6.7M | $-67.0M | ||
| Q2 24 | $18.0M | $-77.0M | ||
| Q1 24 | $11.0M | $-190.7M |
| Q4 25 | $45.0M | $-100.8M | ||
| Q3 25 | $35.0M | $-92.7M | ||
| Q2 25 | $31.4M | $-110.7M | ||
| Q1 25 | $50.4M | $-167.8M | ||
| Q4 24 | $27.8M | $-79.5M | ||
| Q3 24 | $6.7M | $-68.6M | ||
| Q2 24 | $17.8M | $-79.0M | ||
| Q1 24 | $10.8M | $-193.9M |
| Q4 25 | 13.6% | -48.6% | ||
| Q3 25 | 11.3% | -58.0% | ||
| Q2 25 | 11.2% | -66.5% | ||
| Q1 25 | 18.3% | -120.5% | ||
| Q4 24 | 10.8% | -48.3% | ||
| Q3 24 | 2.9% | -49.2% | ||
| Q2 24 | 9.0% | -53.7% | ||
| Q1 24 | 5.9% | -178.2% |
| Q4 25 | 0.0% | 0.5% | ||
| Q3 25 | 0.0% | 0.8% | ||
| Q2 25 | 0.0% | 1.5% | ||
| Q1 25 | 0.0% | 1.0% | ||
| Q4 24 | 0.0% | 0.1% | ||
| Q3 24 | 0.0% | 1.2% | ||
| Q2 24 | 0.1% | 1.4% | ||
| Q1 24 | 0.1% | 3.0% |
| Q4 25 | 2.18× | — | ||
| Q3 25 | 1.98× | — | ||
| Q2 25 | 2.14× | — | ||
| Q1 25 | 3.65× | — | ||
| Q4 24 | 2.12× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 1.93× | — | ||
| Q1 24 | 1.52× | — |
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
PAY
| Payment Transaction Processing Revenue | $326.9M | 99% |
| Other | $3.5M | 1% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
