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CNX Resources Corp（CNX）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
CNX Resources Corp的季度营收约是ROYAL GOLD INC的1.6倍（$610.5M vs $375.3M），CNX Resources Corp净利率更高（32.1% vs 24.9%，领先7.2%），CNX Resources Corp同比增速更快（347.0% vs 85.3%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 32.0%）
CNX资源公司是总部位于美国匹兹堡的天然气企业，业务布局覆盖阿巴拉契亚盆地，核心产区位于宾夕法尼亚州、俄亥俄州、西弗吉尼亚州的马塞勒斯和尤蒂卡页岩区，同时在弗吉尼亚州开发煤层气资产、运营甲烷捕获减排项目，拥有完善的中游业务体系，是美国规模最大的天然气生产商之一。
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。
CNX vs RGLD — 直观对比
营收规模更大
CNX
是对方的1.6倍
$375.3M
营收增速更快
CNX
高出261.7%
85.3%
净利率更高
CNX
高出7.2%
24.9%
两年增速更快
RGLD
近两年复合增速
32.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $610.5M | $375.3M |
| 净利润 | $196.3M | $93.6M |
| 毛利率 | — | 64.6% |
| 营业利润率 | — | 56.2% |
| 净利率 | 32.1% | 24.9% |
| 营收同比 | 347.0% | 85.3% |
| 净利润同比 | 235.7% | -12.8% |
| 每股收益（稀释后） | $1.58 | $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CNXRGLD
| Q4 25 | $610.5M | $375.3M | ||
| Q3 25 | $583.8M | $252.1M | ||
| Q2 25 | $962.4M | $209.6M | ||
| Q1 25 | — | $193.4M | ||
| Q4 24 | — | $202.6M | ||
| Q3 24 | $424.2M | $193.8M | ||
| Q2 24 | $321.4M | $174.1M | ||
| Q1 24 | $384.6M | $148.9M |
净利润CNXRGLD
| Q4 25 | $196.3M | $93.6M | ||
| Q3 25 | $202.1M | $126.8M | ||
| Q2 25 | $432.5M | $132.3M | ||
| Q1 25 | — | $113.5M | ||
| Q4 24 | — | $107.4M | ||
| Q3 24 | $65.5M | $96.2M | ||
| Q2 24 | $-18.3M | $81.2M | ||
| Q1 24 | $6.9M | $47.2M |
毛利率CNXRGLD
| Q4 25 | — | 64.6% | ||
| Q3 25 | — | 73.6% | ||
| Q2 25 | — | 72.6% | ||
| Q1 25 | — | 69.4% | ||
| Q4 24 | — | 70.3% | ||
| Q3 24 | — | 66.6% | ||
| Q2 24 | — | 64.7% | ||
| Q1 24 | — | 58.4% |
营业利润率CNXRGLD
| Q4 25 | — | 56.2% | ||
| Q3 25 | — | 64.4% | ||
| Q2 25 | — | 67.7% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | — | 65.9% | ||
| Q3 24 | — | 61.3% | ||
| Q2 24 | — | 58.6% | ||
| Q1 24 | — | 50.7% |
净利率CNXRGLD
| Q4 25 | 32.1% | 24.9% | ||
| Q3 25 | 34.6% | 50.3% | ||
| Q2 25 | 44.9% | 63.1% | ||
| Q1 25 | — | 58.7% | ||
| Q4 24 | — | 53.0% | ||
| Q3 24 | 15.4% | 49.7% | ||
| Q2 24 | -5.7% | 46.6% | ||
| Q1 24 | 1.8% | 31.7% |
每股收益（稀释后）CNXRGLD
| Q4 25 | $1.58 | $1.04 | ||
| Q3 25 | $1.21 | $1.92 | ||
| Q2 25 | $2.53 | $2.01 | ||
| Q1 25 | — | $1.72 | ||
| Q4 24 | — | $1.63 | ||
| Q3 24 | $0.37 | $1.46 | ||
| Q2 24 | $-0.12 | $1.23 | ||
| Q1 24 | $0.04 | $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 | $779.0K | $233.7M |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $4.3B | $7.2B |
| 总资产 | $9.1B | $9.5B |
| 负债/权益比越低杠杆越低 | 0.56× | — |
8季度趋势，按日历期对齐
现金及短期投资CNXRGLD
| Q4 25 | $779.0K | $233.7M | ||
| Q3 25 | $4.7M | $172.8M | ||
| Q2 25 | $3.4M | $248.2M | ||
| Q1 25 | — | $240.8M | ||
| Q4 24 | — | $195.5M | ||
| Q3 24 | $1.3M | $127.9M | ||
| Q2 24 | $3.9M | $74.2M | ||
| Q1 24 | $2.0M | $137.9M |
总债务CNXRGLD
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $2.3B | $0 | ||
| Q2 24 | $2.3B | $50.0M | ||
| Q1 24 | $2.3B | — |
股东权益CNXRGLD
| Q4 25 | $4.3B | $7.2B | ||
| Q3 25 | $4.1B | $3.4B | ||
| Q2 25 | $4.1B | $3.3B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | $4.3B | $3.0B | ||
| Q2 24 | $4.3B | $3.0B | ||
| Q1 24 | $4.3B | $2.9B |
总资产CNXRGLD
| Q4 25 | $9.1B | $9.5B | ||
| Q3 25 | $8.9B | $4.5B | ||
| Q2 25 | $9.0B | $3.6B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | $8.5B | $3.3B | ||
| Q2 24 | $8.6B | $3.3B | ||
| Q1 24 | $8.7B | $3.3B |
负债/权益比CNXRGLD
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 0.64× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.54× | 0.00× | ||
| Q2 24 | 0.54× | 0.02× | ||
| Q1 24 | 0.53× | — |
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 | $297.0M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $122.6M | — |
| 自由现金流率自由现金流/营收 | 20.1% | — |
| 资本支出强度资本支出/营收 | 28.6% | — |
| 现金转化率经营现金流/净利润 | 1.51× | 2.58× |
| 过去12个月自由现金流最近4个季度 | $505.2M | — |
8季度趋势，按日历期对齐
经营现金流CNXRGLD
| Q4 25 | $297.0M | $241.7M | ||
| Q3 25 | $233.8M | $174.0M | ||
| Q2 25 | $282.5M | $152.8M | ||
| Q1 25 | — | $136.4M | ||
| Q4 24 | — | $141.1M | ||
| Q3 24 | $170.2M | $136.7M | ||
| Q2 24 | $191.8M | $113.5M | ||
| Q1 24 | $185.1M | $138.3M |
自由现金流CNXRGLD
| Q4 25 | $122.6M | — | ||
| Q3 25 | $158.2M | — | ||
| Q2 25 | $168.9M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $55.4M | — | ||
| Q2 24 | $39.8M | — | ||
| Q1 24 | $16.9M | — |
自由现金流率CNXRGLD
| Q4 25 | 20.1% | — | ||
| Q3 25 | 27.1% | — | ||
| Q2 25 | 17.6% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 13.1% | — | ||
| Q2 24 | 12.4% | — | ||
| Q1 24 | 4.4% | — |
资本支出强度CNXRGLD
| Q4 25 | 28.6% | — | ||
| Q3 25 | 12.9% | — | ||
| Q2 25 | 11.8% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 27.0% | — | ||
| Q2 24 | 47.3% | — | ||
| Q1 24 | 43.7% | — |
现金转化率CNXRGLD
| Q4 25 | 1.51× | 2.58× | ||
| Q3 25 | 1.16× | 1.37× | ||
| Q2 25 | 0.65× | 1.15× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | — | 1.31× | ||
| Q3 24 | 2.60× | 1.42× | ||
| Q2 24 | — | 1.40× | ||
| Q1 24 | 27.01× | 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
CNX
| Natural Gas Reserves | $436.6M | 72% |
| Other | $66.8M | 11% |
| NG Ls | $38.1M | 6% |
| Coalbed Methane | $35.2M | 6% |
| Shale | $17.5M | 3% |
| Oil And Gas Purchased | $14.4M | 2% |
| Oil And Condensate | $1.9M | 0% |
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% |
