vs
BADGER METER INC（BMI）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BADGER METER INC的1.6倍（$375.3M vs $234.1M），ROYAL GOLD INC净利率更高（24.9% vs 14.3%，领先10.6%），ROYAL GOLD INC同比增速更快（85.3% vs 14.1%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 9.2%）
Badger Meter Inc是全球领先的流量测量与控制解决方案供应商，主要服务水务企业、工业、商业及住宅客户群体，核心产品包括智能水表、物联网使用监测系统及配套软件，可帮助客户追踪资源消耗、减少浪费、提升运营效率，核心市场覆盖北美、欧洲及亚太地区。
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。
BMI vs RGLD — 直观对比
营收规模更大
RGLD
是对方的1.6倍
$234.1M
营收增速更快
RGLD
高出71.2%
14.1%
净利率更高
RGLD
高出10.6%
14.3%
两年增速更快
RGLD
近两年复合增速
9.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $234.1M | $375.3M |
| 净利润 | $33.6M | $93.6M |
| 毛利率 | 39.7% | 64.6% |
| 营业利润率 | 18.4% | 56.2% |
| 净利率 | 14.3% | 24.9% |
| 营收同比 | 14.1% | 85.3% |
| 净利润同比 | 9.3% | -12.8% |
| 每股收益（稀释后） | $1.13 | $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BMIRGLD
| Q4 25 | $234.1M | $375.3M | ||
| Q3 25 | $222.2M | $252.1M | ||
| Q2 25 | $238.1M | $209.6M | ||
| Q1 25 | $222.2M | $193.4M | ||
| Q4 24 | $205.2M | $202.6M | ||
| Q3 24 | $208.4M | $193.8M | ||
| Q2 24 | $216.7M | $174.1M | ||
| Q1 24 | $196.3M | $148.9M |
净利润BMIRGLD
| Q4 25 | $33.6M | $93.6M | ||
| Q3 25 | $35.1M | $126.8M | ||
| Q2 25 | $34.6M | $132.3M | ||
| Q1 25 | $38.4M | $113.5M | ||
| Q4 24 | $30.7M | $107.4M | ||
| Q3 24 | $32.0M | $96.2M | ||
| Q2 24 | $33.1M | $81.2M | ||
| Q1 24 | $29.1M | $47.2M |
毛利率BMIRGLD
| Q4 25 | 39.7% | 64.6% | ||
| Q3 25 | 43.1% | 73.6% | ||
| Q2 25 | 41.1% | 72.6% | ||
| Q1 25 | 42.9% | 69.4% | ||
| Q4 24 | 40.3% | 70.3% | ||
| Q3 24 | 40.2% | 66.6% | ||
| Q2 24 | 39.4% | 64.7% | ||
| Q1 24 | 39.3% | 58.4% |
营业利润率BMIRGLD
| Q4 25 | 18.4% | 56.2% | ||
| Q3 25 | 20.7% | 64.4% | ||
| Q2 25 | 18.8% | 67.7% | ||
| Q1 25 | 22.2% | 63.6% | ||
| Q4 24 | 19.1% | 65.9% | ||
| Q3 24 | 19.5% | 61.3% | ||
| Q2 24 | 19.2% | 58.6% | ||
| Q1 24 | 18.6% | 50.7% |
净利率BMIRGLD
| Q4 25 | 14.3% | 24.9% | ||
| Q3 25 | 15.8% | 50.3% | ||
| Q2 25 | 14.5% | 63.1% | ||
| Q1 25 | 17.3% | 58.7% | ||
| Q4 24 | 15.0% | 53.0% | ||
| Q3 24 | 15.4% | 49.7% | ||
| Q2 24 | 15.3% | 46.6% | ||
| Q1 24 | 14.8% | 31.7% |
每股收益（稀释后）BMIRGLD
| Q4 25 | $1.13 | $1.04 | ||
| Q3 25 | $1.19 | $1.92 | ||
| Q2 25 | $1.17 | $2.01 | ||
| Q1 25 | $1.30 | $1.72 | ||
| Q4 24 | $1.04 | $1.63 | ||
| Q3 24 | $1.08 | $1.46 | ||
| Q2 24 | $1.12 | $1.23 | ||
| Q1 24 | $0.99 | $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 | — | $233.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $713.3M | $7.2B |
| 总资产 | $973.6M | $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BMIRGLD
| Q4 25 | — | $233.7M | ||
| Q3 25 | — | $172.8M | ||
| Q2 25 | — | $248.2M | ||
| Q1 25 | — | $240.8M | ||
| Q4 24 | — | $195.5M | ||
| Q3 24 | — | $127.9M | ||
| Q2 24 | — | $74.2M | ||
| Q1 24 | — | $137.9M |
总债务BMIRGLD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $50.0M | ||
| Q1 24 | — | — |
股东权益BMIRGLD
| Q4 25 | $713.3M | $7.2B | ||
| Q3 25 | $702.5M | $3.4B | ||
| Q2 25 | $677.6M | $3.3B | ||
| Q1 25 | $641.7M | $3.2B | ||
| Q4 24 | $606.2M | $3.1B | ||
| Q3 24 | $591.2M | $3.0B | ||
| Q2 24 | $563.1M | $3.0B | ||
| Q1 24 | $535.6M | $2.9B |
总资产BMIRGLD
| Q4 25 | $973.6M | $9.5B | ||
| Q3 25 | $978.3M | $4.5B | ||
| Q2 25 | $936.4M | $3.6B | ||
| Q1 25 | $899.6M | $3.5B | ||
| Q4 24 | $816.4M | $3.4B | ||
| Q3 24 | $802.9M | $3.3B | ||
| Q2 24 | $781.3M | $3.3B | ||
| Q1 24 | $743.5M | $3.3B |
负债/权益比BMIRGLD
| 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 | $54.8M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $50.8M | — |
| 自由现金流率自由现金流/营收 | 21.7% | — |
| 资本支出强度资本支出/营收 | 1.7% | — |
| 现金转化率经营现金流/净利润 | 1.63× | 2.58× |
| 过去12个月自由现金流最近4个季度 | $169.7M | — |
8季度趋势，按日历期对齐
经营现金流BMIRGLD
| Q4 25 | $54.8M | $241.7M | ||
| Q3 25 | $51.3M | $174.0M | ||
| Q2 25 | $44.6M | $152.8M | ||
| Q1 25 | $33.0M | $136.4M | ||
| Q4 24 | $52.1M | $141.1M | ||
| Q3 24 | $45.1M | $136.7M | ||
| Q2 24 | $36.4M | $113.5M | ||
| Q1 24 | $21.5M | $138.3M |
自由现金流BMIRGLD
| Q4 25 | $50.8M | — | ||
| Q3 25 | $48.2M | — | ||
| Q2 25 | $40.6M | — | ||
| Q1 25 | $30.1M | — | ||
| Q4 24 | $47.4M | — | ||
| Q3 24 | $42.0M | — | ||
| Q2 24 | $34.1M | — | ||
| Q1 24 | $18.8M | — |
自由现金流率BMIRGLD
| Q4 25 | 21.7% | — | ||
| Q3 25 | 21.7% | — | ||
| Q2 25 | 17.1% | — | ||
| Q1 25 | 13.5% | — | ||
| Q4 24 | 23.1% | — | ||
| Q3 24 | 20.1% | — | ||
| Q2 24 | 15.7% | — | ||
| Q1 24 | 9.6% | — |
资本支出强度BMIRGLD
| Q4 25 | 1.7% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 2.3% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 1.1% | — | ||
| Q1 24 | 1.4% | — |
现金转化率BMIRGLD
| Q4 25 | 1.63× | 2.58× | ||
| Q3 25 | 1.46× | 1.37× | ||
| Q2 25 | 1.29× | 1.15× | ||
| Q1 25 | 0.86× | 1.20× | ||
| Q4 24 | 1.70× | 1.31× | ||
| Q3 24 | 1.41× | 1.42× | ||
| Q2 24 | 1.10× | 1.40× | ||
| Q1 24 | 0.74× | 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
BMI
| Transferred At Point In Time | $198.6M | 85% |
| Transferred Over Time | $22.1M | 9% |
| Other | $13.4M | 6% |
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% |
