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伊萨（ESAB）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
伊萨的季度营收约是ROYAL GOLD INC的1.9倍（$727.8M vs $375.3M），ROYAL GOLD INC净利率更高（24.9% vs 7.5%，领先17.4%），ROYAL GOLD INC同比增速更快（85.3% vs 8.5%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 2.8%）
ESAB（全称Elektriska Svetsnings-Aktiebolaget）是一家美国与瑞典合资的跨国工业企业，主营焊接、切割设备及配套耗材的研发、生产与销售，为全球制造业、基建等多领域客户提供专业可靠的工业解决方案，在全球工业市场拥有较高知名度。
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。
ESAB vs RGLD — 直观对比
营收规模更大
ESAB
是对方的1.9倍
$375.3M
营收增速更快
RGLD
高出76.8%
8.5%
净利率更高
RGLD
高出17.4%
7.5%
两年增速更快
RGLD
近两年复合增速
2.8%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $727.8M | $375.3M |
| 净利润 | $54.8M | $93.6M |
| 毛利率 | 37.0% | 64.6% |
| 营业利润率 | 14.6% | 56.2% |
| 净利率 | 7.5% | 24.9% |
| 营收同比 | 8.5% | 85.3% |
| 净利润同比 | 2.1% | -12.8% |
| 每股收益（稀释后） | $0.90 | $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ESABRGLD
| Q4 25 | $727.8M | $375.3M | ||
| Q3 25 | $715.6M | $252.1M | ||
| Q2 25 | $678.1M | $209.6M | ||
| Q1 25 | — | $193.4M | ||
| Q4 24 | $670.8M | $202.6M | ||
| Q3 24 | $673.3M | $193.8M | ||
| Q2 24 | $707.1M | $174.1M | ||
| Q1 24 | $689.7M | $148.9M |
净利润ESABRGLD
| Q4 25 | $54.8M | $93.6M | ||
| Q3 25 | $66.9M | $126.8M | ||
| Q2 25 | $67.4M | $132.3M | ||
| Q1 25 | — | $113.5M | ||
| Q4 24 | $53.7M | $107.4M | ||
| Q3 24 | $68.2M | $96.2M | ||
| Q2 24 | $82.9M | $81.2M | ||
| Q1 24 | $60.0M | $47.2M |
毛利率ESABRGLD
| Q4 25 | 37.0% | 64.6% | ||
| Q3 25 | 37.2% | 73.6% | ||
| Q2 25 | 37.6% | 72.6% | ||
| Q1 25 | — | 69.4% | ||
| Q4 24 | 38.5% | 70.3% | ||
| Q3 24 | 37.7% | 66.6% | ||
| Q2 24 | 38.2% | 64.7% | ||
| Q1 24 | 37.0% | 58.4% |
营业利润率ESABRGLD
| Q4 25 | 14.6% | 56.2% | ||
| Q3 25 | 15.2% | 64.4% | ||
| Q2 25 | 16.2% | 67.7% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | 16.6% | 65.9% | ||
| Q3 24 | 15.7% | 61.3% | ||
| Q2 24 | 16.9% | 58.6% | ||
| Q1 24 | 16.0% | 50.7% |
净利率ESABRGLD
| Q4 25 | 7.5% | 24.9% | ||
| Q3 25 | 9.3% | 50.3% | ||
| Q2 25 | 9.9% | 63.1% | ||
| Q1 25 | — | 58.7% | ||
| Q4 24 | 8.0% | 53.0% | ||
| Q3 24 | 10.1% | 49.7% | ||
| Q2 24 | 11.7% | 46.6% | ||
| Q1 24 | 8.7% | 31.7% |
每股收益（稀释后）ESABRGLD
| Q4 25 | $0.90 | $1.04 | ||
| Q3 25 | $1.09 | $1.92 | ||
| Q2 25 | $1.10 | $2.01 | ||
| Q1 25 | — | $1.72 | ||
| Q4 24 | $0.87 | $1.63 | ||
| Q3 24 | $1.11 | $1.46 | ||
| Q2 24 | $1.35 | $1.23 | ||
| Q1 24 | $0.98 | $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 | $218.2M | $233.7M |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $2.1B | $7.2B |
| 总资产 | $4.9B | $9.5B |
| 负债/权益比越低杠杆越低 | 0.63× | — |
8季度趋势，按日历期对齐
现金及短期投资ESABRGLD
| Q4 25 | $218.2M | $233.7M | ||
| Q3 25 | $258.2M | $172.8M | ||
| Q2 25 | $291.3M | $248.2M | ||
| Q1 25 | — | $240.8M | ||
| Q4 24 | $249.4M | $195.5M | ||
| Q3 24 | $253.7M | $127.9M | ||
| Q2 24 | $228.5M | $74.2M | ||
| Q1 24 | $76.5M | $137.9M |
总债务ESABRGLD
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | $0 | ||
| Q2 24 | $1.1B | $50.0M | ||
| Q1 24 | $992.8M | — |
股东权益ESABRGLD
| Q4 25 | $2.1B | $7.2B | ||
| Q3 25 | $2.1B | $3.4B | ||
| Q2 25 | $1.9B | $3.3B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | $1.8B | $3.1B | ||
| Q3 24 | $1.8B | $3.0B | ||
| Q2 24 | $1.7B | $3.0B | ||
| Q1 24 | $1.6B | $2.9B |
总资产ESABRGLD
| Q4 25 | $4.9B | $9.5B | ||
| Q3 25 | $4.4B | $4.5B | ||
| Q2 25 | $4.2B | $3.6B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | $4.0B | $3.4B | ||
| Q3 24 | $4.1B | $3.3B | ||
| Q2 24 | $4.0B | $3.3B | ||
| Q1 24 | $3.8B | $3.3B |
负债/权益比ESABRGLD
| Q4 25 | 0.63× | — | ||
| Q3 25 | 0.51× | — | ||
| Q2 25 | 0.55× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.60× | — | ||
| Q3 24 | 0.59× | 0.00× | ||
| Q2 24 | 0.63× | 0.02× | ||
| Q1 24 | 0.61× | — |
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 | $81.5M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $70.3M | — |
| 自由现金流率自由现金流/营收 | 9.7% | — |
| 资本支出强度资本支出/营收 | 1.5% | — |
| 现金转化率经营现金流/净利润 | 1.49× | 2.58× |
| 过去12个月自由现金流最近4个季度 | $238.0M | — |
8季度趋势，按日历期对齐
经营现金流ESABRGLD
| Q4 25 | $81.5M | $241.7M | ||
| Q3 25 | $46.6M | $174.0M | ||
| Q2 25 | $35.4M | $152.8M | ||
| Q1 25 | — | $136.4M | ||
| Q4 24 | $126.9M | $141.1M | ||
| Q3 24 | $101.0M | $136.7M | ||
| Q2 24 | $83.0M | $113.5M | ||
| Q1 24 | $44.5M | $138.3M |
自由现金流ESABRGLD
| Q4 25 | $70.3M | — | ||
| Q3 25 | $37.4M | — | ||
| Q2 25 | $28.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $102.2M | — | ||
| Q3 24 | $90.4M | — | ||
| Q2 24 | $74.0M | — | ||
| Q1 24 | $37.1M | — |
自由现金流率ESABRGLD
| Q4 25 | 9.7% | — | ||
| Q3 25 | 5.2% | — | ||
| Q2 25 | 4.1% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 15.2% | — | ||
| Q3 24 | 13.4% | — | ||
| Q2 24 | 10.5% | — | ||
| Q1 24 | 5.4% | — |
资本支出强度ESABRGLD
| Q4 25 | 1.5% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 1.1% | — |
现金转化率ESABRGLD
| Q4 25 | 1.49× | 2.58× | ||
| Q3 25 | 0.70× | 1.37× | ||
| Q2 25 | 0.53× | 1.15× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | 2.36× | 1.31× | ||
| Q3 24 | 1.48× | 1.42× | ||
| Q2 24 | 1.00× | 1.40× | ||
| Q1 24 | 0.74× | 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
ESAB
| Consumable Products | $477.9M | 66% |
| Equipment Products | $249.9M | 34% |
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% |
