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Ultragenyx Pharmaceutical Inc.（RARE）与ROYAL GOLD INC（RGLD）财务数据对比。点击上方公司名可切换其他公司
ROYAL GOLD INC的季度营收约是Ultragenyx Pharmaceutical Inc.的1.8倍（$375.3M vs $207.3M），ROYAL GOLD INC净利率更高（24.9% vs -62.0%，领先87.0%），ROYAL GOLD INC同比增速更快（85.3% vs 25.9%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 38.0%）
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。
Royal Gold Inc.是全球领先的贵金属流权与特许权经营企业，收购并管理多元化的矿业项目流权、净熔炼收益特许权及相关权益，资产覆盖黄金、白银、铜等品类，业务遍及多地区，无需直接承担采矿运营风险。
RARE vs RGLD — 直观对比
营收规模更大
RGLD
是对方的1.8倍
$207.3M
营收增速更快
RGLD
高出59.4%
25.9%
净利率更高
RGLD
高出87.0%
-62.0%
两年增速更快
RGLD
近两年复合增速
38.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $207.3M | $375.3M |
| 净利润 | $-128.6M | $93.6M |
| 毛利率 | — | 64.6% |
| 营业利润率 | -54.7% | 56.2% |
| 净利率 | -62.0% | 24.9% |
| 营收同比 | 25.9% | 85.3% |
| 净利润同比 | 3.5% | -12.8% |
| 每股收益（稀释后） | $-1.28 | $1.04 |
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RARERGLD
| Q4 25 | $207.3M | $375.3M | ||
| Q3 25 | $159.9M | $252.1M | ||
| Q2 25 | $166.5M | $209.6M | ||
| Q1 25 | $139.3M | $193.4M | ||
| Q4 24 | $164.6M | $202.6M | ||
| Q3 24 | $139.5M | $193.8M | ||
| Q2 24 | $147.0M | $174.1M | ||
| Q1 24 | $108.8M | $148.9M |
净利润RARERGLD
| Q4 25 | $-128.6M | $93.6M | ||
| Q3 25 | $-180.4M | $126.8M | ||
| Q2 25 | $-115.0M | $132.3M | ||
| Q1 25 | $-151.1M | $113.5M | ||
| Q4 24 | $-133.2M | $107.4M | ||
| Q3 24 | $-133.5M | $96.2M | ||
| Q2 24 | $-131.6M | $81.2M | ||
| Q1 24 | $-170.7M | $47.2M |
毛利率RARERGLD
| Q4 25 | — | 64.6% | ||
| Q3 25 | — | 73.6% | ||
| Q2 25 | — | 72.6% | ||
| Q1 25 | — | 69.4% | ||
| Q4 24 | — | 70.3% | ||
| Q3 24 | — | 66.6% | ||
| Q2 24 | — | 64.7% | ||
| Q1 24 | — | 58.4% |
营业利润率RARERGLD
| Q4 25 | -54.7% | 56.2% | ||
| Q3 25 | -106.9% | 64.4% | ||
| Q2 25 | -64.8% | 67.7% | ||
| Q1 25 | -102.6% | 63.6% | ||
| Q4 24 | -74.3% | 65.9% | ||
| Q3 24 | -94.6% | 61.3% | ||
| Q2 24 | -79.1% | 58.6% | ||
| Q1 24 | -151.9% | 50.7% |
净利率RARERGLD
| Q4 25 | -62.0% | 24.9% | ||
| Q3 25 | -112.8% | 50.3% | ||
| Q2 25 | -69.0% | 63.1% | ||
| Q1 25 | -108.5% | 58.7% | ||
| Q4 24 | -80.9% | 53.0% | ||
| Q3 24 | -95.7% | 49.7% | ||
| Q2 24 | -89.5% | 46.6% | ||
| Q1 24 | -156.8% | 31.7% |
每股收益（稀释后）RARERGLD
| Q4 25 | $-1.28 | $1.04 | ||
| Q3 25 | $-1.81 | $1.92 | ||
| Q2 25 | $-1.17 | $2.01 | ||
| Q1 25 | $-1.57 | $1.72 | ||
| Q4 24 | $-1.34 | $1.63 | ||
| Q3 24 | $-1.40 | $1.46 | ||
| Q2 24 | $-1.52 | $1.23 | ||
| Q1 24 | $-2.03 | $0.72 |
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 | $233.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-80.0M | $7.2B |
| 总资产 | $1.5B | $9.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资RARERGLD
| Q4 25 | $421.0M | $233.7M | ||
| Q3 25 | $202.5M | $172.8M | ||
| Q2 25 | $176.3M | $248.2M | ||
| Q1 25 | $127.1M | $240.8M | ||
| Q4 24 | $174.0M | $195.5M | ||
| Q3 24 | $150.6M | $127.9M | ||
| Q2 24 | $480.7M | $74.2M | ||
| Q1 24 | $112.3M | $137.9M |
总债务RARERGLD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $50.0M | ||
| Q1 24 | — | — |
股东权益RARERGLD
| Q4 25 | $-80.0M | $7.2B | ||
| Q3 25 | $9.2M | $3.4B | ||
| Q2 25 | $151.3M | $3.3B | ||
| Q1 25 | $144.2M | $3.2B | ||
| Q4 24 | $255.0M | $3.1B | ||
| Q3 24 | $346.8M | $3.0B | ||
| Q2 24 | $432.4M | $3.0B | ||
| Q1 24 | $140.3M | $2.9B |
总资产RARERGLD
| Q4 25 | $1.5B | $9.5B | ||
| Q3 25 | $1.2B | $4.5B | ||
| Q2 25 | $1.3B | $3.6B | ||
| Q1 25 | $1.3B | $3.5B | ||
| Q4 24 | $1.5B | $3.4B | ||
| Q3 24 | $1.5B | $3.3B | ||
| Q2 24 | $1.6B | $3.3B | ||
| Q1 24 | $1.3B | $3.3B |
负债/权益比RARERGLD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.02× | ||
| 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 | $-99.8M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $-100.8M | — |
| 自由现金流率自由现金流/营收 | -48.6% | — |
| 资本支出强度资本支出/营收 | 0.5% | — |
| 现金转化率经营现金流/净利润 | — | 2.58× |
| 过去12个月自由现金流最近4个季度 | $-472.0M | — |
8季度趋势，按日历期对齐
经营现金流RARERGLD
| Q4 25 | $-99.8M | $241.7M | ||
| Q3 25 | $-91.4M | $174.0M | ||
| Q2 25 | $-108.3M | $152.8M | ||
| Q1 25 | $-166.5M | $136.4M | ||
| Q4 24 | $-79.3M | $141.1M | ||
| Q3 24 | $-67.0M | $136.7M | ||
| Q2 24 | $-77.0M | $113.5M | ||
| Q1 24 | $-190.7M | $138.3M |
自由现金流RARERGLD
| Q4 25 | $-100.8M | — | ||
| Q3 25 | $-92.7M | — | ||
| Q2 25 | $-110.7M | — | ||
| Q1 25 | $-167.8M | — | ||
| Q4 24 | $-79.5M | — | ||
| Q3 24 | $-68.6M | — | ||
| Q2 24 | $-79.0M | — | ||
| Q1 24 | $-193.9M | — |
自由现金流率RARERGLD
| Q4 25 | -48.6% | — | ||
| Q3 25 | -58.0% | — | ||
| Q2 25 | -66.5% | — | ||
| Q1 25 | -120.5% | — | ||
| Q4 24 | -48.3% | — | ||
| Q3 24 | -49.2% | — | ||
| Q2 24 | -53.7% | — | ||
| Q1 24 | -178.2% | — |
资本支出强度RARERGLD
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.8% | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 1.2% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 3.0% | — |
现金转化率RARERGLD
| Q4 25 | — | 2.58× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | — | 1.31× | ||
| Q3 24 | — | 1.42× | ||
| Q2 24 | — | 1.40× | ||
| Q1 24 | — | 2.93× |
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
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
RGLD
| Gold | $216.9M | 58% |
| Pueblo Viejo | $47.3M | 13% |
| Andacollo | $32.6M | 9% |
| Silver | $32.1M | 9% |
| Other | $27.2M | 7% |
| Copper | $13.7M | 4% |
| Cortez Legacy Zone | $5.4M | 1% |
