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Protagonist Therapeutics, Inc（PTGX）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Protagonist Therapeutics, Inc的1.2倍（$207.3M vs $170.6M），Protagonist Therapeutics, Inc净利率更高（77.2% vs -62.0%，领先139.2%），Protagonist Therapeutics, Inc同比增速更快（184.4% vs 25.9%），Protagonist Therapeutics, Inc自由现金流更多（$182.8M vs $-100.8M）
Protagonist Therapeutics是一家临床阶段生物制药公司，专注于研发创新肽类靶向疗法，以满足胃肠道疾病、炎症性疾病及罕见病领域未被满足的医疗需求，核心候选产品覆盖炎症性肠病等慢性免疫相关适应症。
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。
PTGX vs RARE — 直观对比
损益表 — Q4 FY2024 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $170.6M | $207.3M |
| 净利润 | $131.7M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | 74.3% | -54.7% |
| 净利率 | 77.2% | -62.0% |
| 营收同比 | 184.4% | 25.9% |
| 净利润同比 | 381.7% | 3.5% |
| 每股收益（稀释后） | $2.01 | $-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 | — | $207.3M | ||
| Q3 25 | — | $159.9M | ||
| Q2 25 | — | $166.5M | ||
| Q1 25 | — | $139.3M | ||
| Q4 24 | $170.6M | $164.6M | ||
| Q3 24 | — | $139.5M | ||
| Q2 24 | — | $147.0M | ||
| Q1 24 | $255.0M | $108.8M |
| Q4 25 | — | $-128.6M | ||
| Q3 25 | — | $-180.4M | ||
| Q2 25 | — | $-115.0M | ||
| Q1 25 | — | $-151.1M | ||
| Q4 24 | $131.7M | $-133.2M | ||
| Q3 24 | — | $-133.5M | ||
| Q2 24 | — | $-131.6M | ||
| Q1 24 | $207.3M | $-170.7M |
| Q4 25 | — | -54.7% | ||
| Q3 25 | — | -106.9% | ||
| Q2 25 | — | -64.8% | ||
| Q1 25 | — | -102.6% | ||
| Q4 24 | 74.3% | -74.3% | ||
| Q3 24 | — | -94.6% | ||
| Q2 24 | — | -79.1% | ||
| Q1 24 | 80.9% | -151.9% |
| Q4 25 | — | -62.0% | ||
| Q3 25 | — | -112.8% | ||
| Q2 25 | — | -69.0% | ||
| Q1 25 | — | -108.5% | ||
| Q4 24 | 77.2% | -80.9% | ||
| Q3 24 | — | -95.7% | ||
| Q2 24 | — | -89.5% | ||
| Q1 24 | 81.3% | -156.8% |
| Q4 25 | — | $-1.28 | ||
| Q3 25 | — | $-1.81 | ||
| Q2 25 | — | $-1.17 | ||
| Q1 25 | — | $-1.57 | ||
| Q4 24 | $2.01 | $-1.34 | ||
| Q3 24 | — | $-1.40 | ||
| Q2 24 | — | $-1.52 | ||
| Q1 24 | $3.26 | $-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 | $418.9M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $675.3M | $-80.0M |
| 总资产 | $744.7M | $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 | — | $421.0M | ||
| Q3 25 | — | $202.5M | ||
| Q2 25 | — | $176.3M | ||
| Q1 25 | — | $127.1M | ||
| Q4 24 | $418.9M | $174.0M | ||
| Q3 24 | — | $150.6M | ||
| Q2 24 | — | $480.7M | ||
| Q1 24 | $322.6M | $112.3M |
| Q4 25 | — | $-80.0M | ||
| Q3 25 | — | $9.2M | ||
| Q2 25 | — | $151.3M | ||
| Q1 25 | — | $144.2M | ||
| Q4 24 | $675.3M | $255.0M | ||
| Q3 24 | — | $346.8M | ||
| Q2 24 | — | $432.4M | ||
| Q1 24 | $560.4M | $140.3M |
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $744.7M | $1.5B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | $629.3M | $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 | $184.2M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $182.8M | $-100.8M |
| 自由现金流率自由现金流/营收 | 107.1% | -48.6% |
| 资本支出强度资本支出/营收 | 0.8% | 0.5% |
| 现金转化率经营现金流/净利润 | 1.40× | — |
| 过去12个月自由现金流最近4个季度 | $101.7M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | — | $-99.8M | ||
| Q3 25 | — | $-91.4M | ||
| Q2 25 | — | $-108.3M | ||
| Q1 25 | — | $-166.5M | ||
| Q4 24 | $184.2M | $-79.3M | ||
| Q3 24 | — | $-67.0M | ||
| Q2 24 | — | $-77.0M | ||
| Q1 24 | $-27.4M | $-190.7M |
| Q4 25 | — | $-100.8M | ||
| Q3 25 | — | $-92.7M | ||
| Q2 25 | — | $-110.7M | ||
| Q1 25 | — | $-167.8M | ||
| Q4 24 | $182.8M | $-79.5M | ||
| Q3 24 | — | $-68.6M | ||
| Q2 24 | — | $-79.0M | ||
| Q1 24 | $-27.7M | $-193.9M |
| Q4 25 | — | -48.6% | ||
| Q3 25 | — | -58.0% | ||
| Q2 25 | — | -66.5% | ||
| Q1 25 | — | -120.5% | ||
| Q4 24 | 107.1% | -48.3% | ||
| Q3 24 | — | -49.2% | ||
| Q2 24 | — | -53.7% | ||
| Q1 24 | -10.9% | -178.2% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | 0.8% | 0.1% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | 0.1% | 3.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.40× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.13× | — |
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
PTGX
暂无分部数据
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
