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美商海盗船（CRSR）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
美商海盗船的季度营收约是ROYAL GOLD INC的1.2倍（$436.9M vs $375.3M），ROYAL GOLD INC净利率更高（24.9% vs 5.9%，领先19.0%），ROYAL GOLD INC同比增速更快（85.3% vs 5.6%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 13.8%）
美商海盗船是源自美国的电脑外设与电竞硬件品牌，总部位于加利福尼亚州米尔皮塔斯。公司创立于1994年，原名海盗船微系统，后更名为海盗船组件、海盗船内存，2007年重新在特拉华州注册。主打产品涵盖高速内存模块、电源、闪存、CPU显卡与机箱散热、电竞外设、电脑机箱等各类电脑相关产品。
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。
CRSR vs RGLD — 直观对比
营收规模更大
CRSR
是对方的1.2倍
$375.3M
营收增速更快
RGLD
高出79.7%
5.6%
净利率更高
RGLD
高出19.0%
5.9%
两年增速更快
RGLD
近两年复合增速
13.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $436.9M | $375.3M |
| 净利润 | $25.8M | $93.6M |
| 毛利率 | 33.1% | 64.6% |
| 营业利润率 | 6.2% | 56.2% |
| 净利率 | 5.9% | 24.9% |
| 营收同比 | 5.6% | 85.3% |
| 净利润同比 | 1028.2% | -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CRSRRGLD
| Q4 25 | $436.9M | $375.3M | ||
| Q3 25 | $345.8M | $252.1M | ||
| Q2 25 | $320.1M | $209.6M | ||
| Q1 25 | $369.8M | $193.4M | ||
| Q4 24 | $413.6M | $202.6M | ||
| Q3 24 | $304.2M | $193.8M | ||
| Q2 24 | $261.3M | $174.1M | ||
| Q1 24 | $337.3M | $148.9M |
净利润CRSRRGLD
| Q4 25 | $25.8M | $93.6M | ||
| Q3 25 | $-10.6M | $126.8M | ||
| Q2 25 | $-20.9M | $132.3M | ||
| Q1 25 | $-10.5M | $113.5M | ||
| Q4 24 | $2.3M | $107.4M | ||
| Q3 24 | $-51.7M | $96.2M | ||
| Q2 24 | $-24.2M | $81.2M | ||
| Q1 24 | $-11.6M | $47.2M |
毛利率CRSRRGLD
| Q4 25 | 33.1% | 64.6% | ||
| Q3 25 | 26.9% | 73.6% | ||
| Q2 25 | 26.8% | 72.6% | ||
| Q1 25 | 27.7% | 69.4% | ||
| Q4 24 | 26.2% | 70.3% | ||
| Q3 24 | 22.9% | 66.6% | ||
| Q2 24 | 24.1% | 64.7% | ||
| Q1 24 | 25.7% | 58.4% |
营业利润率CRSRRGLD
| Q4 25 | 6.2% | 56.2% | ||
| Q3 25 | -1.6% | 64.4% | ||
| Q2 25 | -5.3% | 67.7% | ||
| Q1 25 | -0.6% | 63.6% | ||
| Q4 24 | 1.4% | 65.9% | ||
| Q3 24 | -6.9% | 61.3% | ||
| Q2 24 | -9.5% | 58.6% | ||
| Q1 24 | -3.0% | 50.7% |
净利率CRSRRGLD
| Q4 25 | 5.9% | 24.9% | ||
| Q3 25 | -3.1% | 50.3% | ||
| Q2 25 | -6.5% | 63.1% | ||
| Q1 25 | -2.8% | 58.7% | ||
| Q4 24 | 0.6% | 53.0% | ||
| Q3 24 | -17.0% | 49.7% | ||
| Q2 24 | -9.3% | 46.6% | ||
| Q1 24 | -3.4% | 31.7% |
每股收益（稀释后）CRSRRGLD
| Q4 25 | $0.23 | $1.04 | ||
| Q3 25 | $-0.09 | $1.92 | ||
| Q2 25 | $-0.16 | $2.01 | ||
| Q1 25 | $-0.10 | $1.72 | ||
| Q4 24 | $0.01 | $1.63 | ||
| Q3 24 | $-0.56 | $1.46 | ||
| Q2 24 | $-0.28 | $1.23 | ||
| Q1 24 | $-0.12 | $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 | $121.3M | — |
| 股东权益账面价值 | $633.6M | $7.2B |
| 总资产 | $1.3B | $9.5B |
| 负债/权益比越低杠杆越低 | 0.19× | — |
8季度趋势，按日历期对齐
现金及短期投资CRSRRGLD
| 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CRSRRGLD
| Q4 25 | $121.3M | — | ||
| Q3 25 | $122.9M | — | ||
| Q2 25 | $124.4M | — | ||
| Q1 25 | $148.7M | — | ||
| Q4 24 | $173.5M | — | ||
| Q3 24 | $177.2M | $0 | ||
| Q2 24 | $180.3M | $50.0M | ||
| Q1 24 | $183.3M | — |
股东权益CRSRRGLD
| Q4 25 | $633.6M | $7.2B | ||
| Q3 25 | $600.2M | $3.4B | ||
| Q2 25 | $603.9M | $3.3B | ||
| Q1 25 | $608.8M | $3.2B | ||
| Q4 24 | $604.3M | $3.1B | ||
| Q3 24 | $598.5M | $3.0B | ||
| Q2 24 | $642.7M | $3.0B | ||
| Q1 24 | $663.5M | $2.9B |
总资产CRSRRGLD
| Q4 25 | $1.3B | $9.5B | ||
| Q3 25 | $1.2B | $4.5B | ||
| Q2 25 | $1.2B | $3.6B | ||
| Q1 25 | $1.2B | $3.5B | ||
| Q4 24 | $1.2B | $3.4B | ||
| Q3 24 | $1.2B | $3.3B | ||
| Q2 24 | $1.2B | $3.3B | ||
| Q1 24 | $1.3B | $3.3B |
负债/权益比CRSRRGLD
| Q4 25 | 0.19× | — | ||
| Q3 25 | 0.20× | — | ||
| Q2 25 | 0.21× | — | ||
| Q1 25 | 0.24× | — | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | 0.30× | 0.00× | ||
| Q2 24 | 0.28× | 0.02× | ||
| Q1 24 | 0.28× | — |
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 | $38.2M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $32.9M | — |
| 自由现金流率自由现金流/营收 | 7.5% | — |
| 资本支出强度资本支出/营收 | 1.2% | — |
| 现金转化率经营现金流/净利润 | 1.48× | 2.58× |
| 过去12个月自由现金流最近4个季度 | $34.7M | — |
8季度趋势，按日历期对齐
经营现金流CRSRRGLD
| Q4 25 | $38.2M | $241.7M | ||
| Q3 25 | $-37.0M | $174.0M | ||
| Q2 25 | $30.2M | $152.8M | ||
| Q1 25 | $18.8M | $136.4M | ||
| Q4 24 | $55.6M | $141.1M | ||
| Q3 24 | $25.1M | $136.7M | ||
| Q2 24 | $-18.5M | $113.5M | ||
| Q1 24 | $-26.3M | $138.3M |
自由现金流CRSRRGLD
| Q4 25 | $32.9M | — | ||
| Q3 25 | $-41.3M | — | ||
| Q2 25 | $27.5M | — | ||
| Q1 25 | $15.7M | — | ||
| Q4 24 | $54.1M | — | ||
| Q3 24 | $21.8M | — | ||
| Q2 24 | $-21.0M | — | ||
| Q1 24 | $-28.8M | — |
自由现金流率CRSRRGLD
| Q4 25 | 7.5% | — | ||
| Q3 25 | -12.0% | — | ||
| Q2 25 | 8.6% | — | ||
| Q1 25 | 4.2% | — | ||
| Q4 24 | 13.1% | — | ||
| Q3 24 | 7.2% | — | ||
| Q2 24 | -8.0% | — | ||
| Q1 24 | -8.6% | — |
资本支出强度CRSRRGLD
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.8% | — | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 1.0% | — | ||
| Q1 24 | 0.7% | — |
现金转化率CRSRRGLD
| Q4 25 | 1.48× | 2.58× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | 24.30× | 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
CRSR
| Gamer And Creator Peripherals | $164.9M | 38% |
| Memory Products | $156.1M | 36% |
| Inventory Costs | $85.6M | 20% |
| Other Segment Items | $16.9M | 4% |
| Other | $13.3M | 3% |
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% |
