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通用动力（PLOW）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.的季度营收约是通用动力的1.1倍（$207.3M vs $184.5M），通用动力净利率更高（7.0% vs -62.0%，领先69.0%），通用动力同比增速更快（28.6% vs 25.9%），通用动力自由现金流更多（$92.8M vs $-100.8M），过去两年通用动力的营收复合增速更高（38.9% vs 38.0%）
通用动力公司是总部位于美国弗吉尼亚州雷斯顿的工业与科技企业，核心业务是研发制造各类先进军用装备，产品包括核潜艇、主战坦克、装甲战车等，同时也生产民用湾流公务机，并提供信息技术服务，是美国联邦政府前五大国防承包商之一。
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。
PLOW vs RARE — 直观对比
营收规模更大
RARE
是对方的1.1倍
$184.5M
营收增速更快
PLOW
高出2.7%
25.9%
净利率更高
PLOW
高出69.0%
-62.0%
自由现金流更多
PLOW
多$193.6M
$-100.8M
两年增速更快
PLOW
近两年复合增速
38.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $184.5M | $207.3M |
| 净利润 | $12.8M | $-128.6M |
| 毛利率 | 26.1% | — |
| 营业利润率 | 10.5% | -54.7% |
| 净利率 | 7.0% | -62.0% |
| 营收同比 | 28.6% | 25.9% |
| 净利润同比 | 62.3% | 3.5% |
| 每股收益（稀释后） | $0.54 | $-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PLOWRARE
| Q4 25 | $184.5M | $207.3M | ||
| Q3 25 | $162.1M | $159.9M | ||
| Q2 25 | $194.3M | $166.5M | ||
| Q1 25 | $115.1M | $139.3M | ||
| Q4 24 | $143.5M | $164.6M | ||
| Q3 24 | $129.4M | $139.5M | ||
| Q2 24 | $199.9M | $147.0M | ||
| Q1 24 | $95.7M | $108.8M |
净利润PLOWRARE
| Q4 25 | $12.8M | $-128.6M | ||
| Q3 25 | $8.0M | $-180.4M | ||
| Q2 25 | $26.0M | $-115.0M | ||
| Q1 25 | $148.0K | $-151.1M | ||
| Q4 24 | $7.9M | $-133.2M | ||
| Q3 24 | $32.3M | $-133.5M | ||
| Q2 24 | $24.3M | $-131.6M | ||
| Q1 24 | $-8.4M | $-170.7M |
毛利率PLOWRARE
| Q4 25 | 26.1% | — | ||
| Q3 25 | 23.5% | — | ||
| Q2 25 | 31.0% | — | ||
| Q1 25 | 24.5% | — | ||
| Q4 24 | 24.9% | — | ||
| Q3 24 | 23.9% | — | ||
| Q2 24 | 30.7% | — | ||
| Q1 24 | 19.8% | — |
营业利润率PLOWRARE
| Q4 25 | 10.5% | -54.7% | ||
| Q3 25 | 8.7% | -106.9% | ||
| Q2 25 | 19.0% | -64.8% | ||
| Q1 25 | 2.8% | -102.6% | ||
| Q4 24 | 9.0% | -74.3% | ||
| Q3 24 | 35.4% | -94.6% | ||
| Q2 24 | 18.2% | -79.1% | ||
| Q1 24 | -6.7% | -151.9% |
净利率PLOWRARE
| Q4 25 | 7.0% | -62.0% | ||
| Q3 25 | 4.9% | -112.8% | ||
| Q2 25 | 13.4% | -69.0% | ||
| Q1 25 | 0.1% | -108.5% | ||
| Q4 24 | 5.5% | -80.9% | ||
| Q3 24 | 24.9% | -95.7% | ||
| Q2 24 | 12.2% | -89.5% | ||
| Q1 24 | -8.7% | -156.8% |
每股收益（稀释后）PLOWRARE
| Q4 25 | $0.54 | $-1.28 | ||
| Q3 25 | $0.33 | $-1.81 | ||
| Q2 25 | $1.09 | $-1.17 | ||
| Q1 25 | $0.00 | $-1.57 | ||
| Q4 24 | $0.35 | $-1.34 | ||
| Q3 24 | $1.36 | $-1.40 | ||
| Q2 24 | $1.02 | $-1.52 | ||
| Q1 24 | $-0.37 | $-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 | — | $421.0M |
| 总债务越低越好 | $144.0M | — |
| 股东权益账面价值 | $281.4M | $-80.0M |
| 总资产 | $626.7M | $1.5B |
| 负债/权益比越低杠杆越低 | 0.51× | — |
8季度趋势，按日历期对齐
现金及短期投资PLOWRARE
| Q4 25 | — | $421.0M | ||
| Q3 25 | — | $202.5M | ||
| Q2 25 | — | $176.3M | ||
| Q1 25 | — | $127.1M | ||
| Q4 24 | — | $174.0M | ||
| Q3 24 | — | $150.6M | ||
| Q2 24 | — | $480.7M | ||
| Q1 24 | — | $112.3M |
总债务PLOWRARE
| Q4 25 | $144.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $147.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益PLOWRARE
| Q4 25 | $281.4M | $-80.0M | ||
| Q3 25 | $275.3M | $9.2M | ||
| Q2 25 | $273.3M | $151.3M | ||
| Q1 25 | $258.9M | $144.2M | ||
| Q4 24 | $264.2M | $255.0M | ||
| Q3 24 | $260.8M | $346.8M | ||
| Q2 24 | $236.7M | $432.4M | ||
| Q1 24 | $217.2M | $140.3M |
总资产PLOWRARE
| Q4 25 | $626.7M | $1.5B | ||
| Q3 25 | $694.9M | $1.2B | ||
| Q2 25 | $671.5M | $1.3B | ||
| Q1 25 | $621.0M | $1.3B | ||
| Q4 24 | $590.0M | $1.5B | ||
| Q3 24 | $665.6M | $1.5B | ||
| Q2 24 | $617.0M | $1.6B | ||
| Q1 24 | $577.1M | $1.3B |
负债/权益比PLOWRARE
| Q4 25 | 0.51× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.56× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $95.9M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $92.8M | $-100.8M |
| 自由现金流率自由现金流/营收 | 50.3% | -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 | 7.47× | — |
| 过去12个月自由现金流最近4个季度 | $63.6M | $-472.0M |
8季度趋势，按日历期对齐
经营现金流PLOWRARE
| Q4 25 | $95.9M | $-99.8M | ||
| Q3 25 | $-8.5M | $-91.4M | ||
| Q2 25 | $-11.4M | $-108.3M | ||
| Q1 25 | $-1.3M | $-166.5M | ||
| Q4 24 | $74.4M | $-79.3M | ||
| Q3 24 | $-14.2M | $-67.0M | ||
| Q2 24 | $2.5M | $-77.0M | ||
| Q1 24 | $-21.6M | $-190.7M |
自由现金流PLOWRARE
| Q4 25 | $92.8M | $-100.8M | ||
| Q3 25 | $-11.4M | $-92.7M | ||
| Q2 25 | $-14.3M | $-110.7M | ||
| Q1 25 | $-3.5M | $-167.8M | ||
| Q4 24 | $70.2M | $-79.5M | ||
| Q3 24 | $-15.2M | $-68.6M | ||
| Q2 24 | $836.0K | $-79.0M | ||
| Q1 24 | $-22.4M | $-193.9M |
自由现金流率PLOWRARE
| Q4 25 | 50.3% | -48.6% | ||
| Q3 25 | -7.1% | -58.0% | ||
| Q2 25 | -7.4% | -66.5% | ||
| Q1 25 | -3.0% | -120.5% | ||
| Q4 24 | 48.9% | -48.3% | ||
| Q3 24 | -11.8% | -49.2% | ||
| Q2 24 | 0.4% | -53.7% | ||
| Q1 24 | -23.4% | -178.2% |
资本支出强度PLOWRARE
| Q4 25 | 1.7% | 0.5% | ||
| Q3 25 | 1.8% | 0.8% | ||
| Q2 25 | 1.5% | 1.5% | ||
| Q1 25 | 1.9% | 1.0% | ||
| Q4 24 | 2.9% | 0.1% | ||
| Q3 24 | 0.8% | 1.2% | ||
| Q2 24 | 0.8% | 1.4% | ||
| Q1 24 | 0.8% | 3.0% |
现金转化率PLOWRARE
| Q4 25 | 7.47× | — | ||
| Q3 25 | -1.07× | — | ||
| Q2 25 | -0.44× | — | ||
| Q1 25 | -9.03× | — | ||
| Q4 24 | 9.41× | — | ||
| Q3 24 | -0.44× | — | ||
| Q2 24 | 0.10× | — | ||
| 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
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
