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APPIAN CORP（APPN）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APPIAN CORP的1.9倍（$375.3M vs $202.9M），ROYAL GOLD INC净利率更高（24.9% vs -2.5%，领先27.5%），ROYAL GOLD INC同比增速更快（85.3% vs 21.7%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 16.4%）
Appian是总部位于美国弗吉尼亚州麦克莱恩的云计算与企业软件厂商，身处杜勒斯科技走廊产业带。公司提供平台即服务（PaaS）产品，支持企业级软件开发，业务覆盖北美、欧洲、中东及东南亚市场，深耕低代码开发、流程挖掘、业务流程管理和案例管理领域。
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。
APPN vs RGLD — 直观对比
营收规模更大
RGLD
是对方的1.9倍
$202.9M
营收增速更快
RGLD
高出63.6%
21.7%
净利率更高
RGLD
高出27.5%
-2.5%
两年增速更快
RGLD
近两年复合增速
16.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $202.9M | $375.3M |
| 净利润 | $-5.1M | $93.6M |
| 毛利率 | 64.8% | 64.6% |
| 营业利润率 | -0.3% | 56.2% |
| 净利率 | -2.5% | 24.9% |
| 营收同比 | 21.7% | 85.3% |
| 净利润同比 | 62.6% | -12.8% |
| 每股收益（稀释后） | $-0.06 | $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APPNRGLD
| Q4 25 | $202.9M | $375.3M | ||
| Q3 25 | $187.0M | $252.1M | ||
| Q2 25 | $170.6M | $209.6M | ||
| Q1 25 | $166.4M | $193.4M | ||
| Q4 24 | $166.7M | $202.6M | ||
| Q3 24 | $154.1M | $193.8M | ||
| Q2 24 | $146.4M | $174.1M | ||
| Q1 24 | $149.8M | $148.9M |
净利润APPNRGLD
| Q4 25 | $-5.1M | $93.6M | ||
| Q3 25 | $7.8M | $126.8M | ||
| Q2 25 | $-312.0K | $132.3M | ||
| Q1 25 | $-1.2M | $113.5M | ||
| Q4 24 | $-13.6M | $107.4M | ||
| Q3 24 | $-2.1M | $96.2M | ||
| Q2 24 | $-43.6M | $81.2M | ||
| Q1 24 | $-32.9M | $47.2M |
毛利率APPNRGLD
| Q4 25 | 64.8% | 64.6% | ||
| Q3 25 | 75.8% | 73.6% | ||
| Q2 25 | 74.3% | 72.6% | ||
| Q1 25 | 76.6% | 69.4% | ||
| Q4 24 | 67.8% | 70.3% | ||
| Q3 24 | 75.9% | 66.6% | ||
| Q2 24 | 73.1% | 64.7% | ||
| Q1 24 | 74.6% | 58.4% |
营业利润率APPNRGLD
| Q4 25 | -0.3% | 56.2% | ||
| Q3 25 | 7.0% | 64.4% | ||
| Q2 25 | -6.4% | 67.7% | ||
| Q1 25 | -0.5% | 63.6% | ||
| Q4 24 | 3.0% | 65.9% | ||
| Q3 24 | -4.6% | 61.3% | ||
| Q2 24 | -26.8% | 58.6% | ||
| Q1 24 | -13.0% | 50.7% |
净利率APPNRGLD
| Q4 25 | -2.5% | 24.9% | ||
| Q3 25 | 4.2% | 50.3% | ||
| Q2 25 | -0.2% | 63.1% | ||
| Q1 25 | -0.7% | 58.7% | ||
| Q4 24 | -8.2% | 53.0% | ||
| Q3 24 | -1.4% | 49.7% | ||
| Q2 24 | -29.8% | 46.6% | ||
| Q1 24 | -22.0% | 31.7% |
每股收益（稀释后）APPNRGLD
| Q4 25 | $-0.06 | $1.04 | ||
| Q3 25 | $0.10 | $1.92 | ||
| Q2 25 | $0.00 | $2.01 | ||
| Q1 25 | $-0.02 | $1.72 | ||
| Q4 24 | $-0.18 | $1.63 | ||
| Q3 24 | $-0.03 | $1.46 | ||
| Q2 24 | $-0.60 | $1.23 | ||
| Q1 24 | $-0.45 | $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 | $187.2M | $233.7M |
| 总债务越低越好 | $240.8M | — |
| 股东权益账面价值 | $-47.0M | $7.2B |
| 总资产 | $691.4M | $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APPNRGLD
| Q4 25 | $187.2M | $233.7M | ||
| Q3 25 | $191.6M | $172.8M | ||
| Q2 25 | $184.8M | $248.2M | ||
| Q1 25 | $199.7M | $240.8M | ||
| Q4 24 | $159.9M | $195.5M | ||
| Q3 24 | $99.2M | $127.9M | ||
| Q2 24 | $120.8M | $74.2M | ||
| Q1 24 | $170.1M | $137.9M |
总债务APPNRGLD
| Q4 25 | $240.8M | — | ||
| Q3 25 | $245.7M | — | ||
| Q2 25 | $245.6M | — | ||
| Q1 25 | $248.0M | — | ||
| Q4 24 | $250.4M | — | ||
| Q3 24 | $252.8M | $0 | ||
| Q2 24 | $254.0M | $50.0M | ||
| Q1 24 | $255.1M | — |
股东权益APPNRGLD
| Q4 25 | $-47.0M | $7.2B | ||
| Q3 25 | $-48.5M | $3.4B | ||
| Q2 25 | $-53.7M | $3.3B | ||
| Q1 25 | $-31.7M | $3.2B | ||
| Q4 24 | $-32.6M | $3.1B | ||
| Q3 24 | $-49.8M | $3.0B | ||
| Q2 24 | $-45.7M | $3.0B | ||
| Q1 24 | $-9.7M | $2.9B |
总资产APPNRGLD
| Q4 25 | $691.4M | $9.5B | ||
| Q3 25 | $611.7M | $4.5B | ||
| Q2 25 | $590.7M | $3.6B | ||
| Q1 25 | $592.9M | $3.5B | ||
| Q4 24 | $621.0M | $3.4B | ||
| Q3 24 | $549.9M | $3.3B | ||
| Q2 24 | $554.6M | $3.3B | ||
| Q1 24 | $595.4M | $3.3B |
负债/权益比APPNRGLD
| 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 | $1.1M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $270.0K | — |
| 自由现金流率自由现金流/营收 | 0.1% | — |
| 资本支出强度资本支出/营收 | 0.4% | — |
| 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 | $59.6M | — |
8季度趋势，按日历期对齐
经营现金流APPNRGLD
| Q4 25 | $1.1M | $241.7M | ||
| Q3 25 | $18.7M | $174.0M | ||
| Q2 25 | $-1.9M | $152.8M | ||
| Q1 25 | $45.0M | $136.4M | ||
| Q4 24 | $13.9M | $141.1M | ||
| Q3 24 | $-8.2M | $136.7M | ||
| Q2 24 | $-17.6M | $113.5M | ||
| Q1 24 | $18.9M | $138.3M |
自由现金流APPNRGLD
| Q4 25 | $270.0K | — | ||
| Q3 25 | $18.1M | — | ||
| Q2 25 | $-3.1M | — | ||
| Q1 25 | $44.3M | — | ||
| Q4 24 | $13.4M | — | ||
| Q3 24 | $-8.6M | — | ||
| Q2 24 | $-18.3M | — | ||
| Q1 24 | $16.7M | — |
自由现金流率APPNRGLD
| Q4 25 | 0.1% | — | ||
| Q3 25 | 9.7% | — | ||
| Q2 25 | -1.8% | — | ||
| Q1 25 | 26.6% | — | ||
| Q4 24 | 8.0% | — | ||
| Q3 24 | -5.6% | — | ||
| Q2 24 | -12.5% | — | ||
| Q1 24 | 11.1% | — |
资本支出强度APPNRGLD
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 1.5% | — |
现金转化率APPNRGLD
| Q4 25 | — | 2.58× | ||
| Q3 25 | 2.39× | 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
APPN
| Subscriptions Software And Support | $162.3M | 80% |
| Professional Services | $40.6M | 20% |
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% |
