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Arcosa, Inc.（ACA）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
Arcosa, Inc.的季度营收约是ROYAL GOLD INC的1.9倍（$716.7M vs $375.3M），ROYAL GOLD INC净利率更高（24.9% vs 7.3%，领先17.7%），ROYAL GOLD INC同比增速更快（85.3% vs 7.6%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 9.4%）
Arcosa, Inc.是一家基础设施相关产品及解决方案提供商，业务覆盖建筑、能源、交通三大核心板块，主营公用设施结构件、建筑集料、交通零部件等产品，主要面向北美市场客户，为各类关键基础设施建设项目提供支持。
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。
ACA vs RGLD — 直观对比
营收规模更大
ACA
是对方的1.9倍
$375.3M
营收增速更快
RGLD
高出77.7%
7.6%
净利率更高
RGLD
高出17.7%
7.3%
两年增速更快
RGLD
近两年复合增速
9.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $716.7M | $375.3M |
| 净利润 | $52.1M | $93.6M |
| 毛利率 | 22.9% | 64.6% |
| 营业利润率 | 11.0% | 56.2% |
| 净利率 | 7.3% | 24.9% |
| 营收同比 | 7.6% | 85.3% |
| 净利润同比 | 776.6% | -12.8% |
| 每股收益（稀释后） | $1.06 | $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ACARGLD
| Q4 25 | $716.7M | $375.3M | ||
| Q3 25 | $797.8M | $252.1M | ||
| Q2 25 | $736.9M | $209.6M | ||
| Q1 25 | $632.0M | $193.4M | ||
| Q4 24 | $666.2M | $202.6M | ||
| Q3 24 | $640.4M | $193.8M | ||
| Q2 24 | $664.7M | $174.1M | ||
| Q1 24 | $598.6M | $148.9M |
净利润ACARGLD
| Q4 25 | $52.1M | $93.6M | ||
| Q3 25 | $73.0M | $126.8M | ||
| Q2 25 | $59.7M | $132.3M | ||
| Q1 25 | $23.6M | $113.5M | ||
| Q4 24 | $-7.7M | $107.4M | ||
| Q3 24 | $16.6M | $96.2M | ||
| Q2 24 | $45.6M | $81.2M | ||
| Q1 24 | $39.2M | $47.2M |
毛利率ACARGLD
| Q4 25 | 22.9% | 64.6% | ||
| Q3 25 | 24.1% | 73.6% | ||
| Q2 25 | 22.5% | 72.6% | ||
| Q1 25 | 19.8% | 69.4% | ||
| Q4 24 | 19.3% | 70.3% | ||
| Q3 24 | 21.3% | 66.6% | ||
| Q2 24 | 20.8% | 64.7% | ||
| Q1 24 | 18.6% | 58.4% |
营业利润率ACARGLD
| Q4 25 | 11.0% | 56.2% | ||
| Q3 25 | 14.1% | 64.4% | ||
| Q2 25 | 12.9% | 67.7% | ||
| Q1 25 | 8.8% | 63.6% | ||
| Q4 24 | 6.5% | 65.9% | ||
| Q3 24 | 5.3% | 61.3% | ||
| Q2 24 | 10.1% | 58.6% | ||
| Q1 24 | 8.9% | 50.7% |
净利率ACARGLD
| Q4 25 | 7.3% | 24.9% | ||
| Q3 25 | 9.2% | 50.3% | ||
| Q2 25 | 8.1% | 63.1% | ||
| Q1 25 | 3.7% | 58.7% | ||
| Q4 24 | -1.2% | 53.0% | ||
| Q3 24 | 2.6% | 49.7% | ||
| Q2 24 | 6.9% | 46.6% | ||
| Q1 24 | 6.5% | 31.7% |
每股收益（稀释后）ACARGLD
| Q4 25 | $1.06 | $1.04 | ||
| Q3 25 | $1.48 | $1.92 | ||
| Q2 25 | $1.22 | $2.01 | ||
| Q1 25 | $0.48 | $1.72 | ||
| Q4 24 | $-0.16 | $1.63 | ||
| Q3 24 | $0.34 | $1.46 | ||
| Q2 24 | $0.93 | $1.23 | ||
| Q1 24 | $0.80 | $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 | $214.6M | $233.7M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $2.6B | $7.2B |
| 总资产 | $5.0B | $9.5B |
| 负债/权益比越低杠杆越低 | 0.57× | — |
8季度趋势，按日历期对齐
现金及短期投资ACARGLD
| Q4 25 | $214.6M | $233.7M | ||
| Q3 25 | $220.0M | $172.8M | ||
| Q2 25 | $189.7M | $248.2M | ||
| Q1 25 | $167.9M | $240.8M | ||
| Q4 24 | $187.3M | $195.5M | ||
| Q3 24 | $756.8M | $127.9M | ||
| Q2 24 | $103.7M | $74.2M | ||
| Q1 24 | $176.5M | $137.9M |
总债务ACARGLD
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.2B | $0 | ||
| Q2 24 | $699.9M | $50.0M | ||
| Q1 24 | $600.6M | — |
股东权益ACARGLD
| Q4 25 | $2.6B | $7.2B | ||
| Q3 25 | $2.6B | $3.4B | ||
| Q2 25 | $2.5B | $3.3B | ||
| Q1 25 | $2.5B | $3.2B | ||
| Q4 24 | $2.4B | $3.1B | ||
| Q3 24 | $2.4B | $3.0B | ||
| Q2 24 | $2.4B | $3.0B | ||
| Q1 24 | $2.4B | $2.9B |
总资产ACARGLD
| Q4 25 | $5.0B | $9.5B | ||
| Q3 25 | $5.1B | $4.5B | ||
| Q2 25 | $5.0B | $3.6B | ||
| Q1 25 | $4.9B | $3.5B | ||
| Q4 24 | $4.9B | $3.4B | ||
| Q3 24 | $4.4B | $3.3B | ||
| Q2 24 | $3.8B | $3.3B | ||
| Q1 24 | $3.7B | $3.3B |
负债/权益比ACARGLD
| Q4 25 | 0.57× | — | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.67× | — | ||
| Q1 25 | 0.68× | — | ||
| Q4 24 | 0.69× | — | ||
| Q3 24 | 0.51× | 0.00× | ||
| Q2 24 | 0.29× | 0.02× | ||
| Q1 24 | 0.25× | — |
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 | $120.0M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | — |
| 自由现金流率自由现金流/营收 | 7.8% | — |
| 资本支出强度资本支出/营收 | 9.0% | — |
| 现金转化率经营现金流/净利润 | 2.30× | 2.58× |
| 过去12个月自由现金流最近4个季度 | $175.5M | — |
8季度趋势，按日历期对齐
经营现金流ACARGLD
| Q4 25 | $120.0M | $241.7M | ||
| Q3 25 | $160.6M | $174.0M | ||
| Q2 25 | $61.2M | $152.8M | ||
| Q1 25 | $-700.0K | $136.4M | ||
| Q4 24 | $248.2M | $141.1M | ||
| Q3 24 | $135.0M | $136.7M | ||
| Q2 24 | $38.3M | $113.5M | ||
| Q1 24 | $80.5M | $138.3M |
自由现金流ACARGLD
| Q4 25 | $55.8M | — | ||
| Q3 25 | $121.0M | — | ||
| Q2 25 | $33.4M | — | ||
| Q1 25 | $-34.7M | — | ||
| Q4 24 | $194.9M | — | ||
| Q3 24 | $100.6M | — | ||
| Q2 24 | $-9.3M | — | ||
| Q1 24 | $26.1M | — |
自由现金流率ACARGLD
| Q4 25 | 7.8% | — | ||
| Q3 25 | 15.2% | — | ||
| Q2 25 | 4.5% | — | ||
| Q1 25 | -5.5% | — | ||
| Q4 24 | 29.3% | — | ||
| Q3 24 | 15.7% | — | ||
| Q2 24 | -1.4% | — | ||
| Q1 24 | 4.4% | — |
资本支出强度ACARGLD
| Q4 25 | 9.0% | — | ||
| Q3 25 | 5.0% | — | ||
| Q2 25 | 3.8% | — | ||
| Q1 25 | 5.4% | — | ||
| Q4 24 | 8.0% | — | ||
| Q3 24 | 5.4% | — | ||
| Q2 24 | 7.2% | — | ||
| Q1 24 | 9.1% | — |
现金转化率ACARGLD
| Q4 25 | 2.30× | 2.58× | ||
| Q3 25 | 2.20× | 1.37× | ||
| Q2 25 | 1.03× | 1.15× | ||
| Q1 25 | -0.03× | 1.20× | ||
| Q4 24 | — | 1.31× | ||
| Q3 24 | 8.13× | 1.42× | ||
| Q2 24 | 0.84× | 1.40× | ||
| Q1 24 | 2.05× | 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
ACA
| Engineered Structures | $301.1M | 42% |
| Total Construction Materials | $276.8M | 39% |
| Specialty Materials And Asphalt | $110.2M | 15% |
| Construction Site Support | $28.6M | 4% |
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% |
