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Braze, Inc.（BRZE）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Braze, Inc.的2.0倍（$375.3M vs $190.8M），ROYAL GOLD INC净利率更高（24.9% vs -18.9%，领先43.8%），ROYAL GOLD INC同比增速更快（85.3% vs 25.5%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 20.7%）
Braze是一家总部位于美国纽约的云软件企业，专注于客户互动平台开发，旗下产品可帮助企业开展多渠道营销活动，为品牌与用户的高效连接提供技术支持。
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。
BRZE vs RGLD — 直观对比
营收规模更大
RGLD
是对方的2.0倍
$190.8M
营收增速更快
RGLD
高出59.8%
25.5%
净利率更高
RGLD
高出43.8%
-18.9%
两年增速更快
RGLD
近两年复合增速
20.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $190.8M | $375.3M |
| 净利润 | $-36.0M | $93.6M |
| 毛利率 | 67.2% | 64.6% |
| 营业利润率 | -19.7% | 56.2% |
| 净利率 | -18.9% | 24.9% |
| 营收同比 | 25.5% | 85.3% |
| 净利润同比 | -29.0% | -12.8% |
| 每股收益（稀释后） | $-0.33 | $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BRZERGLD
| Q4 25 | $190.8M | $375.3M | ||
| Q3 25 | $180.1M | $252.1M | ||
| Q2 25 | $162.1M | $209.6M | ||
| Q1 25 | $160.4M | $193.4M | ||
| Q4 24 | $152.1M | $202.6M | ||
| Q3 24 | $145.5M | $193.8M | ||
| Q2 24 | $135.5M | $174.1M | ||
| Q1 24 | $131.0M | $148.9M |
净利润BRZERGLD
| Q4 25 | $-36.0M | $93.6M | ||
| Q3 25 | $-27.9M | $126.8M | ||
| Q2 25 | $-35.8M | $132.3M | ||
| Q1 25 | $-17.2M | $113.5M | ||
| Q4 24 | $-27.9M | $107.4M | ||
| Q3 24 | $-23.0M | $96.2M | ||
| Q2 24 | $-35.6M | $81.2M | ||
| Q1 24 | $-28.3M | $47.2M |
毛利率BRZERGLD
| Q4 25 | 67.2% | 64.6% | ||
| Q3 25 | 67.7% | 73.6% | ||
| Q2 25 | 68.6% | 72.6% | ||
| Q1 25 | 69.3% | 69.4% | ||
| Q4 24 | 69.8% | 70.3% | ||
| Q3 24 | 70.2% | 66.6% | ||
| Q2 24 | 67.1% | 64.7% | ||
| Q1 24 | 67.2% | 58.4% |
营业利润率BRZERGLD
| Q4 25 | -19.7% | 56.2% | ||
| Q3 25 | -21.5% | 64.4% | ||
| Q2 25 | -24.8% | 67.7% | ||
| Q1 25 | -13.4% | 63.6% | ||
| Q4 24 | -21.4% | 65.9% | ||
| Q3 24 | -19.2% | 61.3% | ||
| Q2 24 | -29.6% | 58.6% | ||
| Q1 24 | -24.7% | 50.7% |
净利率BRZERGLD
| Q4 25 | -18.9% | 24.9% | ||
| Q3 25 | -15.5% | 50.3% | ||
| Q2 25 | -22.1% | 63.1% | ||
| Q1 25 | -10.7% | 58.7% | ||
| Q4 24 | -18.4% | 53.0% | ||
| Q3 24 | -15.8% | 49.7% | ||
| Q2 24 | -26.3% | 46.6% | ||
| Q1 24 | -21.6% | 31.7% |
每股收益（稀释后）BRZERGLD
| Q4 25 | $-0.33 | $1.04 | ||
| Q3 25 | $-0.26 | $1.92 | ||
| Q2 25 | $-0.34 | $2.01 | ||
| Q1 25 | $-0.17 | $1.72 | ||
| Q4 24 | $-0.27 | $1.63 | ||
| Q3 24 | $-0.23 | $1.46 | ||
| Q2 24 | $-0.35 | $1.23 | ||
| Q1 24 | $-0.28 | $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 | $97.8M | $233.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $602.0M | $7.2B |
| 总资产 | $1.0B | $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BRZERGLD
| Q4 25 | $97.8M | $233.7M | ||
| Q3 25 | $81.0M | $172.8M | ||
| Q2 25 | $231.5M | $248.2M | ||
| Q1 25 | $83.1M | $240.8M | ||
| Q4 24 | $61.3M | $195.5M | ||
| Q3 24 | $79.1M | $127.9M | ||
| Q2 24 | $74.8M | $74.2M | ||
| Q1 24 | $68.2M | $137.9M |
总债务BRZERGLD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $50.0M | ||
| Q1 24 | — | — |
股东权益BRZERGLD
| Q4 25 | $602.0M | $7.2B | ||
| Q3 25 | $598.9M | $3.4B | ||
| Q2 25 | $474.4M | $3.3B | ||
| Q1 25 | $474.9M | $3.2B | ||
| Q4 24 | $458.1M | $3.1B | ||
| Q3 24 | $453.7M | $3.0B | ||
| Q2 24 | $436.1M | $3.0B | ||
| Q1 24 | $444.2M | $2.9B |
总资产BRZERGLD
| Q4 25 | $1.0B | $9.5B | ||
| Q3 25 | $1.0B | $4.5B | ||
| Q2 25 | $889.1M | $3.6B | ||
| Q1 25 | $871.0M | $3.5B | ||
| Q4 24 | $842.0M | $3.4B | ||
| Q3 24 | $825.6M | $3.3B | ||
| Q2 24 | $816.1M | $3.3B | ||
| Q1 24 | $810.9M | $3.3B |
负债/权益比BRZERGLD
| 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 | $21.0M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $19.0M | — |
| 自由现金流率自由现金流/营收 | 10.0% | — |
| 资本支出强度资本支出/营收 | 1.0% | — |
| 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 | $63.3M | — |
8季度趋势，按日历期对齐
经营现金流BRZERGLD
| Q4 25 | $21.0M | $241.7M | ||
| Q3 25 | $7.0M | $174.0M | ||
| Q2 25 | $24.1M | $152.8M | ||
| Q1 25 | $17.1M | $136.4M | ||
| Q4 24 | $-11.4M | $141.1M | ||
| Q3 24 | $11.6M | $136.7M | ||
| Q2 24 | $19.4M | $113.5M | ||
| Q1 24 | $3.8M | $138.3M |
自由现金流BRZERGLD
| Q4 25 | $19.0M | — | ||
| Q3 25 | $4.3M | — | ||
| Q2 25 | $23.9M | — | ||
| Q1 25 | $16.0M | — | ||
| Q4 24 | $-13.3M | — | ||
| Q3 24 | $8.3M | — | ||
| Q2 24 | $12.5M | — | ||
| Q1 24 | $-2.5M | — |
自由现金流率BRZERGLD
| Q4 25 | 10.0% | — | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | 14.8% | — | ||
| Q1 25 | 10.0% | — | ||
| Q4 24 | -8.8% | — | ||
| Q3 24 | 5.7% | — | ||
| Q2 24 | 9.2% | — | ||
| Q1 24 | -1.9% | — |
资本支出强度BRZERGLD
| Q4 25 | 1.0% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 2.3% | — | ||
| Q2 24 | 5.1% | — | ||
| Q1 24 | 4.8% | — |
现金转化率BRZERGLD
| 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
BRZE
| Subscription Revenue | $181.7M | 95% |
| Professional Services Revenue | $9.2M | 5% |
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% |
