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Ultragenyx Pharmaceutical Inc.（RARE）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
世纪互联的季度营收约是Ultragenyx Pharmaceutical Inc.的1.7倍（$362.7M vs $207.3M），世纪互联净利率更高（-10.7% vs -62.0%，领先51.4%），Ultragenyx Pharmaceutical Inc.自由现金流更多（$-100.8M vs $-193.1M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 17.4%）
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。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
RARE vs VNET — 直观对比
营收规模更大
VNET
是对方的1.7倍
$207.3M
净利率更高
VNET
高出51.4%
-62.0%
自由现金流更多
RARE
多$92.3M
$-193.1M
两年增速更快
RARE
近两年复合增速
17.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $207.3M | $362.7M |
| 净利润 | $-128.6M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | -54.7% | 0.5% |
| 净利率 | -62.0% | -10.7% |
| 营收同比 | 25.9% | — |
| 净利润同比 | 3.5% | — |
| 每股收益（稀释后） | $-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RAREVNET
| Q4 25 | $207.3M | — | ||
| Q3 25 | $159.9M | $362.7M | ||
| Q2 25 | $166.5M | — | ||
| Q1 25 | $139.3M | $309.5M | ||
| Q4 24 | $164.6M | — | ||
| Q3 24 | $139.5M | $302.2M | ||
| Q2 24 | $147.0M | $274.4M | ||
| Q1 24 | $108.8M | $262.9M |
净利润RAREVNET
| Q4 25 | $-128.6M | — | ||
| Q3 25 | $-180.4M | $-38.7M | ||
| Q2 25 | $-115.0M | — | ||
| Q1 25 | $-151.1M | $-2.4M | ||
| Q4 24 | $-133.2M | — | ||
| Q3 24 | $-133.5M | $-2.1M | ||
| Q2 24 | $-131.6M | $-1.1M | ||
| Q1 24 | $-170.7M | $-22.0M |
毛利率RAREVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | — | 21.6% |
营业利润率RAREVNET
| Q4 25 | -54.7% | — | ||
| Q3 25 | -106.9% | 0.5% | ||
| Q2 25 | -64.8% | — | ||
| Q1 25 | -102.6% | 0.1% | ||
| Q4 24 | -74.3% | — | ||
| Q3 24 | -94.6% | 24.5% | ||
| Q2 24 | -79.1% | 0.2% | ||
| Q1 24 | -151.9% | 0.2% |
净利率RAREVNET
| Q4 25 | -62.0% | — | ||
| Q3 25 | -112.8% | -10.7% | ||
| Q2 25 | -69.0% | — | ||
| Q1 25 | -108.5% | -0.8% | ||
| Q4 24 | -80.9% | — | ||
| Q3 24 | -95.7% | -0.7% | ||
| Q2 24 | -89.5% | -0.4% | ||
| Q1 24 | -156.8% | -8.4% |
每股收益（稀释后）RAREVNET
| Q4 25 | $-1.28 | — | ||
| Q3 25 | $-1.81 | — | ||
| Q2 25 | $-1.17 | — | ||
| Q1 25 | $-1.57 | — | ||
| Q4 24 | $-1.34 | — | ||
| Q3 24 | $-1.40 | — | ||
| Q2 24 | $-1.52 | — | ||
| Q1 24 | $-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 | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-80.0M | $890.8M |
| 总资产 | $1.5B | $6.1B |
| 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RAREVNET
| Q4 25 | $421.0M | — | ||
| Q3 25 | $202.5M | $492.1M | ||
| Q2 25 | $176.3M | — | ||
| Q1 25 | $127.1M | $544.3M | ||
| Q4 24 | $174.0M | — | ||
| Q3 24 | $150.6M | $219.5M | ||
| Q2 24 | $480.7M | $247.2M | ||
| Q1 24 | $112.3M | $246.9M |
总债务RAREVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益RAREVNET
| Q4 25 | $-80.0M | — | ||
| Q3 25 | $9.2M | $890.8M | ||
| Q2 25 | $151.3M | — | ||
| Q1 25 | $144.2M | $927.8M | ||
| Q4 24 | $255.0M | — | ||
| Q3 24 | $346.8M | $902.9M | ||
| Q2 24 | $432.4M | $900.6M | ||
| Q1 24 | $140.3M | $895.1M |
总资产RAREVNET
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.2B | $6.1B | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.3B | $5.4B | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | $4.3B | ||
| Q2 24 | $1.6B | $4.0B | ||
| Q1 24 | $1.3B | $3.9B |
负债/权益比RAREVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.28× | ||
| 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 | $-99.8M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $-100.8M | $-193.1M |
| 自由现金流率自由现金流/营收 | -48.6% | -53.2% |
| 资本支出强度资本支出/营收 | 0.5% | 84.6% |
| 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 | $-472.0M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流RAREVNET
| Q4 25 | $-99.8M | — | ||
| Q3 25 | $-91.4M | $113.8M | ||
| Q2 25 | $-108.3M | — | ||
| Q1 25 | $-166.5M | $27.0M | ||
| Q4 24 | $-79.3M | — | ||
| Q3 24 | $-67.0M | $108.3M | ||
| Q2 24 | $-77.0M | $55.8M | ||
| Q1 24 | $-190.7M | $37.1M |
自由现金流RAREVNET
| Q4 25 | $-100.8M | — | ||
| Q3 25 | $-92.7M | $-193.1M | ||
| Q2 25 | $-110.7M | — | ||
| Q1 25 | $-167.8M | $-220.0M | ||
| Q4 24 | $-79.5M | — | ||
| Q3 24 | $-68.6M | $-95.0M | ||
| Q2 24 | $-79.0M | $-81.6M | ||
| Q1 24 | $-193.9M | $-102.2M |
自由现金流率RAREVNET
| Q4 25 | -48.6% | — | ||
| Q3 25 | -58.0% | -53.2% | ||
| Q2 25 | -66.5% | — | ||
| Q1 25 | -120.5% | -71.1% | ||
| Q4 24 | -48.3% | — | ||
| Q3 24 | -49.2% | -31.4% | ||
| Q2 24 | -53.7% | -29.8% | ||
| Q1 24 | -178.2% | -38.9% |
资本支出强度RAREVNET
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.8% | 84.6% | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 1.0% | 79.8% | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 1.2% | 67.3% | ||
| Q2 24 | 1.4% | 50.1% | ||
| Q1 24 | 3.0% | 53.0% |
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% |
VNET
暂无分部数据
