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GENESIS ENERGY LP（GEL）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
GENESIS ENERGY LP的季度营收约是ROYAL GOLD INC的1.2倍（$440.8M vs $375.3M），ROYAL GOLD INC净利率更高（24.9% vs 4.5%，领先20.4%），ROYAL GOLD INC同比增速更快（85.3% vs 10.5%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 0.7%）
Genesis Energy LP是一家总部位于美国的中游能源合伙企业，主营原油、天然气、成品油及特种工业原料的基础设施运营与物流服务，旗下资产涵盖管道、仓储码头、海运设施及铁路物流枢纽，为北美地区的炼油厂、工业客户及能源分销商提供服务。
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。
GEL vs RGLD — 直观对比
营收规模更大
GEL
是对方的1.2倍
$375.3M
营收增速更快
RGLD
高出74.8%
10.5%
净利率更高
RGLD
高出20.4%
4.5%
两年增速更快
RGLD
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $440.8M | $375.3M |
| 净利润 | $19.9M | $93.6M |
| 毛利率 | — | 64.6% |
| 营业利润率 | 20.4% | 56.2% |
| 净利率 | 4.5% | 24.9% |
| 营收同比 | 10.5% | 85.3% |
| 净利润同比 | 140.2% | -12.8% |
| 每股收益（稀释后） | $0.04 | $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GELRGLD
| Q4 25 | $440.8M | $375.3M | ||
| Q3 25 | $414.0M | $252.1M | ||
| Q2 25 | $377.3M | $209.6M | ||
| Q1 25 | $398.3M | $193.4M | ||
| Q4 24 | $398.9M | $202.6M | ||
| Q3 24 | $397.3M | $193.8M | ||
| Q2 24 | $430.2M | $174.1M | ||
| Q1 24 | $434.4M | $148.9M |
净利润GELRGLD
| Q4 25 | $19.9M | $93.6M | ||
| Q3 25 | $9.2M | $126.8M | ||
| Q2 25 | $-406.0K | $132.3M | ||
| Q1 25 | $-469.1M | $113.5M | ||
| Q4 24 | $-49.4M | $107.4M | ||
| Q3 24 | $-17.2M | $96.2M | ||
| Q2 24 | $-8.7M | $81.2M | ||
| Q1 24 | $11.4M | $47.2M |
毛利率GELRGLD
| 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GELRGLD
| Q4 25 | 20.4% | 56.2% | ||
| Q3 25 | 19.0% | 64.4% | ||
| Q2 25 | 17.9% | 67.7% | ||
| Q1 25 | 5.5% | 63.6% | ||
| Q4 24 | 3.4% | 65.9% | ||
| Q3 24 | 12.2% | 61.3% | ||
| Q2 24 | 11.6% | 58.6% | ||
| Q1 24 | 13.4% | 50.7% |
净利率GELRGLD
| Q4 25 | 4.5% | 24.9% | ||
| Q3 25 | 2.2% | 50.3% | ||
| Q2 25 | -0.1% | 63.1% | ||
| Q1 25 | -117.8% | 58.7% | ||
| Q4 24 | -12.4% | 53.0% | ||
| Q3 24 | -4.3% | 49.7% | ||
| Q2 24 | -2.0% | 46.6% | ||
| Q1 24 | 2.6% | 31.7% |
每股收益（稀释后）GELRGLD
| Q4 25 | $0.04 | $1.04 | ||
| Q3 25 | $-0.05 | $1.92 | ||
| Q2 25 | $-0.12 | $2.01 | ||
| Q1 25 | $-4.06 | $1.72 | ||
| Q4 24 | $-0.58 | $1.63 | ||
| Q3 24 | $-0.32 | $1.46 | ||
| Q2 24 | $-0.25 | $1.23 | ||
| Q1 24 | $-0.09 | $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 | $6.4M | $233.7M |
| 总债务越低越好 | $3.0B | — |
| 股东权益账面价值 | — | $7.2B |
| 总资产 | $4.9B | $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GELRGLD
| Q4 25 | $6.4M | $233.7M | ||
| Q3 25 | $4.9M | $172.8M | ||
| Q2 25 | $4.5M | $248.2M | ||
| Q1 25 | $377.4M | $240.8M | ||
| Q4 24 | $7.4M | $195.5M | ||
| Q3 24 | $13.0M | $127.9M | ||
| Q2 24 | $13.7M | $74.2M | ||
| Q1 24 | $7.0M | $137.9M |
总债务GELRGLD
| Q4 25 | $3.0B | — | ||
| Q3 25 | $3.1B | — | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.7B | — | ||
| Q3 24 | $4.0B | $0 | ||
| Q2 24 | $3.9B | $50.0M | ||
| Q1 24 | $3.8B | — |
股东权益GELRGLD
| Q4 25 | — | $7.2B | ||
| Q3 25 | — | $3.4B | ||
| Q2 25 | — | $3.3B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $2.9B |
总资产GELRGLD
| Q4 25 | $4.9B | $9.5B | ||
| Q3 25 | $4.9B | $4.5B | ||
| Q2 25 | $4.8B | $3.6B | ||
| Q1 25 | $5.2B | $3.5B | ||
| Q4 24 | $7.0B | $3.4B | ||
| Q3 24 | $7.1B | $3.3B | ||
| Q2 24 | $7.0B | $3.3B | ||
| Q1 24 | $6.9B | $3.3B |
负债/权益比GELRGLD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.02× | ||
| Q1 24 | — | — |
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 | $110.8M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $87.0M | — |
| 自由现金流率自由现金流/营收 | 19.7% | — |
| 资本支出强度资本支出/营收 | 5.4% | — |
| 现金转化率经营现金流/净利润 | 5.58× | 2.58× |
| 过去12个月自由现金流最近4个季度 | $65.9M | — |
8季度趋势，按日历期对齐
经营现金流GELRGLD
| Q4 25 | $110.8M | $241.7M | ||
| Q3 25 | $70.3M | $174.0M | ||
| Q2 25 | $47.0M | $152.8M | ||
| Q1 25 | $24.8M | $136.4M | ||
| Q4 24 | $74.0M | $141.1M | ||
| Q3 24 | $87.3M | $136.7M | ||
| Q2 24 | $104.7M | $113.5M | ||
| Q1 24 | $125.9M | $138.3M |
自由现金流GELRGLD
| Q4 25 | $87.0M | — | ||
| Q3 25 | $43.3M | — | ||
| Q2 25 | $-7.6M | — | ||
| Q1 25 | $-56.8M | — | ||
| Q4 24 | $-47.1M | — | ||
| Q3 24 | $-32.3M | — | ||
| Q2 24 | $-67.5M | — | ||
| Q1 24 | $-48.3M | — |
自由现金流率GELRGLD
| Q4 25 | 19.7% | — | ||
| Q3 25 | 10.5% | — | ||
| Q2 25 | -2.0% | — | ||
| Q1 25 | -14.3% | — | ||
| Q4 24 | -11.8% | — | ||
| Q3 24 | -8.1% | — | ||
| Q2 24 | -15.7% | — | ||
| Q1 24 | -11.1% | — |
资本支出强度GELRGLD
| Q4 25 | 5.4% | — | ||
| Q3 25 | 6.5% | — | ||
| Q2 25 | 14.5% | — | ||
| Q1 25 | 20.5% | — | ||
| Q4 24 | 30.3% | — | ||
| Q3 24 | 30.1% | — | ||
| Q2 24 | 40.0% | — | ||
| Q1 24 | 40.1% | — |
现金转化率GELRGLD
| Q4 25 | 5.58× | 2.58× | ||
| Q3 25 | 7.63× | 1.37× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | — | 1.31× | ||
| Q3 24 | — | 1.42× | ||
| Q2 24 | — | 1.40× | ||
| Q1 24 | 11.09× | 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
GEL
| Onshore Facilities And Transportation Revenue | $204.2M | 46% |
| Offshore Pipeline Transportation Revenue | $154.3M | 35% |
| Marine Transportation Revenue | $82.2M | 19% |
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% |
