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Confluent, Inc.（CFLT）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Confluent, Inc.的1.2倍（$375.3M vs $314.8M），ROYAL GOLD INC净利率更高（24.9% vs -25.2%，领先50.1%），ROYAL GOLD INC同比增速更快（85.3% vs 20.5%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 20.4%）
Confluent Inc是总部位于美国加利福尼亚州山景城的科技企业，由杰伊·克雷普斯、饶军、内哈·纳克赫德于2014年创立，核心业务为商业化三人2008年在LinkedIn任职时开发的开源流处理平台Apache Kafka，旗下产品包括Confluent Cloud云服务、Confluent Platform平台、连接器、Apache Flink、流治理套件及Confluent Hub等。
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。
CFLT vs RGLD — 直观对比
营收规模更大
RGLD
是对方的1.2倍
$314.8M
营收增速更快
RGLD
高出64.8%
20.5%
净利率更高
RGLD
高出50.1%
-25.2%
两年增速更快
RGLD
近两年复合增速
20.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $314.8M | $375.3M |
| 净利润 | $-79.2M | $93.6M |
| 毛利率 | 74.7% | 64.6% |
| 营业利润率 | -31.5% | 56.2% |
| 净利率 | -25.2% | 24.9% |
| 营收同比 | 20.5% | 85.3% |
| 净利润同比 | 10.0% | -12.8% |
| 每股收益（稀释后） | $-0.23 | $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CFLTRGLD
| Q4 25 | $314.8M | $375.3M | ||
| Q3 25 | $298.5M | $252.1M | ||
| Q2 25 | $282.3M | $209.6M | ||
| Q1 25 | $271.1M | $193.4M | ||
| Q4 24 | $261.2M | $202.6M | ||
| Q3 24 | $250.2M | $193.8M | ||
| Q2 24 | $235.0M | $174.1M | ||
| Q1 24 | $217.2M | $148.9M |
净利润CFLTRGLD
| Q4 25 | $-79.2M | $93.6M | ||
| Q3 25 | $-66.5M | $126.8M | ||
| Q2 25 | $-82.0M | $132.3M | ||
| Q1 25 | $-67.6M | $113.5M | ||
| Q4 24 | $-88.1M | $107.4M | ||
| Q3 24 | $-74.1M | $96.2M | ||
| Q2 24 | $-89.9M | $81.2M | ||
| Q1 24 | $-93.0M | $47.2M |
毛利率CFLTRGLD
| Q4 25 | 74.7% | 64.6% | ||
| Q3 25 | 74.2% | 73.6% | ||
| Q2 25 | 73.7% | 72.6% | ||
| Q1 25 | 74.5% | 69.4% | ||
| Q4 24 | 74.1% | 70.3% | ||
| Q3 24 | 74.5% | 66.6% | ||
| Q2 24 | 72.3% | 64.7% | ||
| Q1 24 | 71.8% | 58.4% |
营业利润率CFLTRGLD
| Q4 25 | -31.5% | 56.2% | ||
| Q3 25 | -27.9% | 64.4% | ||
| Q2 25 | -34.2% | 67.7% | ||
| Q1 25 | -37.3% | 63.6% | ||
| Q4 24 | -40.5% | 65.9% | ||
| Q3 24 | -37.4% | 61.3% | ||
| Q2 24 | -46.1% | 58.6% | ||
| Q1 24 | -51.3% | 50.7% |
净利率CFLTRGLD
| Q4 25 | -25.2% | 24.9% | ||
| Q3 25 | -22.3% | 50.3% | ||
| Q2 25 | -29.0% | 63.1% | ||
| Q1 25 | -24.9% | 58.7% | ||
| Q4 24 | -33.7% | 53.0% | ||
| Q3 24 | -29.6% | 49.7% | ||
| Q2 24 | -38.3% | 46.6% | ||
| Q1 24 | -42.8% | 31.7% |
每股收益（稀释后）CFLTRGLD
| Q4 25 | $-0.23 | $1.04 | ||
| Q3 25 | $-0.19 | $1.92 | ||
| Q2 25 | $-0.24 | $2.01 | ||
| Q1 25 | $-0.20 | $1.72 | ||
| Q4 24 | $-0.26 | $1.63 | ||
| Q3 24 | $-0.23 | $1.46 | ||
| Q2 24 | $-0.28 | $1.23 | ||
| Q1 24 | $-0.30 | $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 | $347.2M | $233.7M |
| 总债务越低越好 | $1.1B | — |
| 股东权益账面价值 | $1.2B | $7.2B |
| 总资产 | $3.0B | $9.5B |
| 负债/权益比越低杠杆越低 | 0.94× | — |
8季度趋势，按日历期对齐
现金及短期投资CFLTRGLD
| Q4 25 | $347.2M | $233.7M | ||
| Q3 25 | $298.5M | $172.8M | ||
| Q2 25 | $295.6M | $248.2M | ||
| Q1 25 | $278.6M | $240.8M | ||
| Q4 24 | $386.0M | $195.5M | ||
| Q3 24 | $322.6M | $127.9M | ||
| Q2 24 | $311.3M | $74.2M | ||
| Q1 24 | $336.4M | $137.9M |
总债务CFLTRGLD
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | $0 | ||
| Q2 24 | $1.1B | $50.0M | ||
| Q1 24 | $1.1B | — |
股东权益CFLTRGLD
| Q4 25 | $1.2B | $7.2B | ||
| Q3 25 | $1.1B | $3.4B | ||
| Q2 25 | $1.1B | $3.3B | ||
| Q1 25 | $1.0B | $3.2B | ||
| Q4 24 | $961.2M | $3.1B | ||
| Q3 24 | $934.3M | $3.0B | ||
| Q2 24 | $873.9M | $3.0B | ||
| Q1 24 | $845.2M | $2.9B |
总资产CFLTRGLD
| Q4 25 | $3.0B | $9.5B | ||
| Q3 25 | $2.9B | $4.5B | ||
| Q2 25 | $2.8B | $3.6B | ||
| Q1 25 | $2.7B | $3.5B | ||
| Q4 24 | $2.7B | $3.4B | ||
| Q3 24 | $2.6B | $3.3B | ||
| Q2 24 | $2.5B | $3.3B | ||
| Q1 24 | $2.4B | $3.3B |
负债/权益比CFLTRGLD
| Q4 25 | 0.94× | — | ||
| Q3 25 | 0.98× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | 1.14× | — | ||
| Q3 24 | 1.17× | 0.00× | ||
| Q2 24 | 1.25× | 0.02× | ||
| Q1 24 | 1.29× | — |
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 | $42.1M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $41.7M | — |
| 自由现金流率自由现金流/营收 | 13.2% | — |
| 资本支出强度资本支出/营收 | 0.1% | — |
| 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 | $60.7M | — |
8季度趋势，按日历期对齐
经营现金流CFLTRGLD
| Q4 25 | $42.1M | $241.7M | ||
| Q3 25 | $30.8M | $174.0M | ||
| Q2 25 | $18.1M | $152.8M | ||
| Q1 25 | $-26.8M | $136.4M | ||
| Q4 24 | $35.2M | $141.1M | ||
| Q3 24 | $15.6M | $136.7M | ||
| Q2 24 | $8.6M | $113.5M | ||
| Q1 24 | $-26.0M | $138.3M |
自由现金流CFLTRGLD
| Q4 25 | $41.7M | — | ||
| Q3 25 | $30.0M | — | ||
| Q2 25 | $17.2M | — | ||
| Q1 25 | $-28.2M | — | ||
| Q4 24 | $34.5M | — | ||
| Q3 24 | $15.0M | — | ||
| Q2 24 | $7.5M | — | ||
| Q1 24 | $-26.1M | — |
自由现金流率CFLTRGLD
| Q4 25 | 13.2% | — | ||
| Q3 25 | 10.0% | — | ||
| Q2 25 | 6.1% | — | ||
| Q1 25 | -10.4% | — | ||
| Q4 24 | 13.2% | — | ||
| Q3 24 | 6.0% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | -12.0% | — |
资本支出强度CFLTRGLD
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 0.1% | — |
现金转化率CFLTRGLD
| 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
CFLT
| Confluent Cloud | $169.4M | 54% |
| Post Contract Customer Support | $93.8M | 30% |
| License | $38.4M | 12% |
| Services | $13.2M | 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% |
