vs
Enphase Energy（ENPH）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Enphase Energy的1.3倍（$375.3M vs $282.9M），ROYAL GOLD INC净利率更高（24.9% vs -2.6%，领先27.6%），ROYAL GOLD INC同比增速更快（85.3% vs -20.6%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs -3.4%）
Enphase Energy是总部位于美国加利福尼亚州弗里蒙特的能源科技企业，成立于2006年，是全球首家成功实现光伏微型逆变器商业化的企业，主要面向住宅用户研发生产光伏微型逆变器、储能电池及电动汽车充电桩。
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。
ENPH vs RGLD — 直观对比
营收规模更大
RGLD
是对方的1.3倍
$282.9M
营收增速更快
RGLD
高出105.8%
-20.6%
净利率更高
RGLD
高出27.6%
-2.6%
两年增速更快
RGLD
近两年复合增速
-3.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $282.9M | $375.3M |
| 净利润 | $-7.4M | $93.6M |
| 毛利率 | 35.5% | 64.6% |
| 营业利润率 | 54.0% | 56.2% |
| 净利率 | -2.6% | 24.9% |
| 营收同比 | -20.6% | 85.3% |
| 净利润同比 | -124.9% | -12.8% |
| 每股收益（稀释后） | $-0.06 | $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ENPHRGLD
| Q1 26 | $282.9M | — | ||
| Q4 25 | $343.3M | $375.3M | ||
| Q3 25 | $410.4M | $252.1M | ||
| Q2 25 | $363.2M | $209.6M | ||
| Q1 25 | $356.1M | $193.4M | ||
| Q4 24 | $382.7M | $202.6M | ||
| Q3 24 | $380.9M | $193.8M | ||
| Q2 24 | $303.5M | $174.1M |
净利润ENPHRGLD
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | $93.6M | ||
| Q3 25 | $66.6M | $126.8M | ||
| Q2 25 | $37.1M | $132.3M | ||
| Q1 25 | $29.7M | $113.5M | ||
| Q4 24 | $62.2M | $107.4M | ||
| Q3 24 | $45.8M | $96.2M | ||
| Q2 24 | $10.8M | $81.2M |
毛利率ENPHRGLD
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | 64.6% | ||
| Q3 25 | 47.8% | 73.6% | ||
| Q2 25 | 46.9% | 72.6% | ||
| Q1 25 | 47.2% | 69.4% | ||
| Q4 24 | 51.8% | 70.3% | ||
| Q3 24 | 46.8% | 66.6% | ||
| Q2 24 | 45.2% | 64.7% |
营业利润率ENPHRGLD
| Q1 26 | 54.0% | — | ||
| Q4 25 | 6.5% | 56.2% | ||
| Q3 25 | 16.1% | 64.4% | ||
| Q2 25 | 10.2% | 67.7% | ||
| Q1 25 | 9.0% | 63.6% | ||
| Q4 24 | 14.3% | 65.9% | ||
| Q3 24 | 13.1% | 61.3% | ||
| Q2 24 | 0.6% | 58.6% |
净利率ENPHRGLD
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | 24.9% | ||
| Q3 25 | 16.2% | 50.3% | ||
| Q2 25 | 10.2% | 63.1% | ||
| Q1 25 | 8.3% | 58.7% | ||
| Q4 24 | 16.2% | 53.0% | ||
| Q3 24 | 12.0% | 49.7% | ||
| Q2 24 | 3.6% | 46.6% |
每股收益（稀释后）ENPHRGLD
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | $1.04 | ||
| Q3 25 | $0.50 | $1.92 | ||
| Q2 25 | $0.28 | $2.01 | ||
| Q1 25 | $0.22 | $1.72 | ||
| Q4 24 | $0.46 | $1.63 | ||
| Q3 24 | $0.33 | $1.46 | ||
| Q2 24 | $0.08 | $1.23 |
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 | $497.5M | $233.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.1B | $7.2B |
| 总资产 | $2.7B | $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ENPHRGLD
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | $233.7M | ||
| Q3 25 | $1.5B | $172.8M | ||
| Q2 25 | $1.5B | $248.2M | ||
| Q1 25 | $1.5B | $240.8M | ||
| Q4 24 | $1.6B | $195.5M | ||
| Q3 24 | $1.8B | $127.9M | ||
| Q2 24 | $1.6B | $74.2M |
总债务ENPHRGLD
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | $0 | ||
| Q2 24 | $1.3B | $50.0M |
股东权益ENPHRGLD
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $7.2B | ||
| Q3 25 | $995.0M | $3.4B | ||
| Q2 25 | $880.6M | $3.3B | ||
| Q1 25 | $810.7M | $3.2B | ||
| Q4 24 | $833.0M | $3.1B | ||
| Q3 24 | $931.4M | $3.0B | ||
| Q2 24 | $884.5M | $3.0B |
总资产ENPHRGLD
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | $9.5B | ||
| Q3 25 | $3.3B | $4.5B | ||
| Q2 25 | $3.2B | $3.6B | ||
| Q1 25 | $3.1B | $3.5B | ||
| Q4 24 | $3.2B | $3.4B | ||
| Q3 24 | $3.3B | $3.3B | ||
| Q2 24 | $3.2B | $3.3B |
负债/权益比ENPHRGLD
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | — | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 1.37× | — | ||
| Q1 25 | 1.48× | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 1.40× | 0.00× | ||
| Q2 24 | 1.47× | 0.02× |
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 | $102.9M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $83.0M | — |
| 自由现金流率自由现金流/营收 | 29.3% | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | $145.1M | — |
8季度趋势，按日历期对齐
经营现金流ENPHRGLD
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $241.7M | ||
| Q3 25 | $13.9M | $174.0M | ||
| Q2 25 | $26.6M | $152.8M | ||
| Q1 25 | $48.4M | $136.4M | ||
| Q4 24 | $167.3M | $141.1M | ||
| Q3 24 | $170.1M | $136.7M | ||
| Q2 24 | $127.1M | $113.5M |
自由现金流ENPHRGLD
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | — | ||
| Q3 25 | $5.9M | — | ||
| Q2 25 | $18.4M | — | ||
| Q1 25 | $33.8M | — | ||
| Q4 24 | $159.2M | — | ||
| Q3 24 | $161.6M | — | ||
| Q2 24 | $117.4M | — |
自由现金流率ENPHRGLD
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | 9.5% | — | ||
| Q4 24 | 41.6% | — | ||
| Q3 24 | 42.4% | — | ||
| Q2 24 | 38.7% | — |
资本支出强度ENPHRGLD
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | — | ||
| Q3 25 | 2.0% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 4.1% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 2.2% | — | ||
| Q2 24 | 3.2% | — |
现金转化率ENPHRGLD
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 2.58× | ||
| Q3 25 | 0.21× | 1.37× | ||
| Q2 25 | 0.72× | 1.15× | ||
| Q1 25 | 1.63× | 1.20× | ||
| Q4 24 | 2.69× | 1.31× | ||
| Q3 24 | 3.72× | 1.42× | ||
| Q2 24 | 11.73× | 1.40× |
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
ENPH
暂无分部数据
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% |
