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Alphatec Holdings, Inc.（ATEC）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Alphatec Holdings, Inc.的1.8倍（$375.3M vs $212.9M），ROYAL GOLD INC净利率更高（24.9% vs -10.2%，领先35.1%），ROYAL GOLD INC同比增速更快（85.3% vs 20.4%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 24.0%）
Alphatec Holdings是一家全球医疗科技企业，专注于研发、生产及销售脊柱外科手术相关的植入物、手术器械与数字化手术平台，服务骨科及神经外科医疗从业者，核心市场覆盖北美、欧洲及亚太主要区域。
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。
ATEC vs RGLD — 直观对比
营收规模更大
RGLD
是对方的1.8倍
$212.9M
营收增速更快
RGLD
高出64.9%
20.4%
净利率更高
RGLD
高出35.1%
-10.2%
两年增速更快
RGLD
近两年复合增速
24.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $375.3M |
| 净利润 | $-21.7M | $93.6M |
| 毛利率 | 70.2% | 64.6% |
| 营业利润率 | -4.1% | 56.2% |
| 净利率 | -10.2% | 24.9% |
| 营收同比 | 20.4% | 85.3% |
| 净利润同比 | 34.8% | -12.8% |
| 每股收益（稀释后） | $-0.15 | $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ATECRGLD
| Q4 25 | $212.9M | $375.3M | ||
| Q3 25 | $196.5M | $252.1M | ||
| Q2 25 | $185.5M | $209.6M | ||
| Q1 25 | $169.2M | $193.4M | ||
| Q4 24 | $176.8M | $202.6M | ||
| Q3 24 | $150.7M | $193.8M | ||
| Q2 24 | $145.6M | $174.1M | ||
| Q1 24 | $138.5M | $148.9M |
净利润ATECRGLD
| Q4 25 | $-21.7M | $93.6M | ||
| Q3 25 | $-28.6M | $126.8M | ||
| Q2 25 | $-41.1M | $132.3M | ||
| Q1 25 | $-51.9M | $113.5M | ||
| Q4 24 | $-33.3M | $107.4M | ||
| Q3 24 | $-39.6M | $96.2M | ||
| Q2 24 | $-40.7M | $81.2M | ||
| Q1 24 | $-48.5M | $47.2M |
毛利率ATECRGLD
| Q4 25 | 70.2% | 64.6% | ||
| Q3 25 | 69.9% | 73.6% | ||
| Q2 25 | 69.6% | 72.6% | ||
| Q1 25 | 68.6% | 69.4% | ||
| Q4 24 | 68.8% | 70.3% | ||
| Q3 24 | 68.2% | 66.6% | ||
| Q2 24 | 70.5% | 64.7% | ||
| Q1 24 | 70.3% | 58.4% |
营业利润率ATECRGLD
| Q4 25 | -4.1% | 56.2% | ||
| Q3 25 | -8.1% | 64.4% | ||
| Q2 25 | -7.1% | 67.7% | ||
| Q1 25 | -26.2% | 63.6% | ||
| Q4 24 | -13.5% | 65.9% | ||
| Q3 24 | -22.4% | 61.3% | ||
| Q2 24 | -24.3% | 58.6% | ||
| Q1 24 | -31.3% | 50.7% |
净利率ATECRGLD
| Q4 25 | -10.2% | 24.9% | ||
| Q3 25 | -14.5% | 50.3% | ||
| Q2 25 | -22.2% | 63.1% | ||
| Q1 25 | -30.7% | 58.7% | ||
| Q4 24 | -18.9% | 53.0% | ||
| Q3 24 | -26.3% | 49.7% | ||
| Q2 24 | -27.9% | 46.6% | ||
| Q1 24 | -35.0% | 31.7% |
每股收益（稀释后）ATECRGLD
| Q4 25 | $-0.15 | $1.04 | ||
| Q3 25 | $-0.19 | $1.92 | ||
| Q2 25 | $-0.27 | $2.01 | ||
| Q1 25 | $-0.35 | $1.72 | ||
| Q4 24 | $-0.22 | $1.63 | ||
| Q3 24 | $-0.28 | $1.46 | ||
| Q2 24 | $-0.29 | $1.23 | ||
| Q1 24 | $-0.34 | $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 | $160.8M | $233.7M |
| 总债务越低越好 | $565.9M | — |
| 股东权益账面价值 | $12.4M | $7.2B |
| 总资产 | $791.2M | $9.5B |
| 负债/权益比越低杠杆越低 | 45.54× | — |
8季度趋势，按日历期对齐
现金及短期投资ATECRGLD
| Q4 25 | $160.8M | $233.7M | ||
| Q3 25 | $155.7M | $172.8M | ||
| Q2 25 | $157.1M | $248.2M | ||
| Q1 25 | $153.2M | $240.8M | ||
| Q4 24 | $138.8M | $195.5M | ||
| Q3 24 | $81.0M | $127.9M | ||
| Q2 24 | $99.8M | $74.2M | ||
| Q1 24 | $144.1M | $137.9M |
总债务ATECRGLD
| Q4 25 | $565.9M | — | ||
| Q3 25 | $559.7M | — | ||
| Q2 25 | $553.9M | — | ||
| Q1 25 | $548.4M | — | ||
| Q4 24 | $576.2M | — | ||
| Q3 24 | $527.7M | $0 | ||
| Q2 24 | $519.2M | $50.0M | ||
| Q1 24 | $514.4M | — |
股东权益ATECRGLD
| Q4 25 | $12.4M | $7.2B | ||
| Q3 25 | $11.5M | $3.4B | ||
| Q2 25 | $23.8M | $3.3B | ||
| Q1 25 | $-85.9M | $3.2B | ||
| Q4 24 | $-14.2M | $3.1B | ||
| Q3 24 | $-1.4M | $3.0B | ||
| Q2 24 | $17.1M | $3.0B | ||
| Q1 24 | $37.6M | $2.9B |
总资产ATECRGLD
| Q4 25 | $791.2M | $9.5B | ||
| Q3 25 | $787.2M | $4.5B | ||
| Q2 25 | $790.3M | $3.6B | ||
| Q1 25 | $785.5M | $3.5B | ||
| Q4 24 | $775.7M | $3.4B | ||
| Q3 24 | $745.9M | $3.3B | ||
| Q2 24 | $768.6M | $3.3B | ||
| Q1 24 | $774.6M | $3.3B |
负债/权益比ATECRGLD
| Q4 25 | 45.54× | — | ||
| Q3 25 | 48.64× | — | ||
| Q2 25 | 23.30× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | 30.34× | 0.02× | ||
| Q1 24 | 13.70× | — |
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 | $20.7M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $7.7M | — |
| 自由现金流率自由现金流/营收 | 3.6% | — |
| 资本支出强度资本支出/营收 | 6.1% | — |
| 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 | $2.8M | — |
8季度趋势，按日历期对齐
经营现金流ATECRGLD
| Q4 25 | $20.7M | $241.7M | ||
| Q3 25 | $14.0M | $174.0M | ||
| Q2 25 | $15.5M | $152.8M | ||
| Q1 25 | $-5.0M | $136.4M | ||
| Q4 24 | $10.5M | $141.1M | ||
| Q3 24 | $-5.3M | $136.7M | ||
| Q2 24 | $-11.4M | $113.5M | ||
| Q1 24 | $-38.4M | $138.3M |
自由现金流ATECRGLD
| Q4 25 | $7.7M | — | ||
| Q3 25 | $4.8M | — | ||
| Q2 25 | $5.2M | — | ||
| Q1 25 | $-15.0M | — | ||
| Q4 24 | $8.5M | — | ||
| Q3 24 | $-21.2M | — | ||
| Q2 24 | $-45.5M | — | ||
| Q1 24 | $-69.8M | — |
自由现金流率ATECRGLD
| Q4 25 | 3.6% | — | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | 2.8% | — | ||
| Q1 25 | -8.9% | — | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | -14.1% | — | ||
| Q2 24 | -31.3% | — | ||
| Q1 24 | -50.4% | — |
资本支出强度ATECRGLD
| Q4 25 | 6.1% | — | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | 5.6% | — | ||
| Q1 25 | 5.9% | — | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 10.5% | — | ||
| Q2 24 | 23.4% | — | ||
| Q1 24 | 22.6% | — |
现金转化率ATECRGLD
| 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
ATEC
暂无分部数据
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% |
