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Acushnet Holdings Corp.（GOLF）与Royalty Pharma plc（RPRX）财务数据对比。点击上方公司名可切换其他公司
Royalty Pharma plc的季度营收约是Acushnet Holdings Corp.的1.3倍（$622.0M vs $477.2M），Royalty Pharma plc净利率更高（34.4% vs -7.3%，领先41.8%），Acushnet Holdings Corp.同比增速更快（7.2% vs 4.8%），过去两年Royalty Pharma plc的营收复合增速更高（4.6% vs -17.9%）
Acushnet Holdings Corp.是一家专注于高尔夫赛道的美国企业，旗下运营多个知名品牌，产品品类覆盖高尔夫专业器材、运动服饰及相关配件，为全球高尔夫运动爱好者提供多元化的相关产品选择。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
GOLF vs RPRX — 直观对比
营收规模更大
RPRX
是对方的1.3倍
$477.2M
营收增速更快
GOLF
高出2.4%
4.8%
净利率更高
RPRX
高出41.8%
-7.3%
两年增速更快
RPRX
近两年复合增速
-17.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $477.2M | $622.0M |
| 净利润 | $-34.9M | $214.2M |
| 毛利率 | 44.1% | — |
| 营业利润率 | -3.8% | 62.4% |
| 净利率 | -7.3% | 34.4% |
| 营收同比 | 7.2% | 4.8% |
| 净利润同比 | -3027.3% | 2.9% |
| 每股收益（稀释后） | $-0.57 | $0.49 |
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GOLFRPRX
| Q4 25 | $477.2M | $622.0M | ||
| Q3 25 | $657.7M | $609.3M | ||
| Q2 25 | $720.5M | $578.7M | ||
| Q1 25 | $703.4M | $568.2M | ||
| Q4 24 | $445.2M | $593.6M | ||
| Q3 24 | $620.5M | $564.7M | ||
| Q2 24 | $683.9M | $537.3M | ||
| Q1 24 | $707.6M | $568.0M |
净利润GOLFRPRX
| Q4 25 | $-34.9M | $214.2M | ||
| Q3 25 | $48.5M | $288.2M | ||
| Q2 25 | $75.6M | $30.2M | ||
| Q1 25 | $99.4M | $238.3M | ||
| Q4 24 | $-1.1M | $208.2M | ||
| Q3 24 | $56.2M | $544.0M | ||
| Q2 24 | $71.4M | $102.0M | ||
| Q1 24 | $87.8M | $4.8M |
毛利率GOLFRPRX
| Q4 25 | 44.1% | — | ||
| Q3 25 | 48.5% | — | ||
| Q2 25 | 49.2% | — | ||
| Q1 25 | 47.9% | — | ||
| Q4 24 | 22.6% | — | ||
| Q3 24 | 54.4% | — | ||
| Q2 24 | 54.4% | — | ||
| Q1 24 | 53.4% | — |
营业利润率GOLFRPRX
| Q4 25 | -3.8% | 62.4% | ||
| Q3 25 | 14.1% | 70.1% | ||
| Q2 25 | 15.2% | 36.3% | ||
| Q1 25 | 16.3% | 94.0% | ||
| Q4 24 | -1.2% | 60.9% | ||
| Q3 24 | 13.2% | — | ||
| Q2 24 | 15.5% | 50.2% | ||
| Q1 24 | 17.2% | -13.0% |
净利率GOLFRPRX
| Q4 25 | -7.3% | 34.4% | ||
| Q3 25 | 7.4% | 47.3% | ||
| Q2 25 | 10.5% | 5.2% | ||
| Q1 25 | 14.1% | 41.9% | ||
| Q4 24 | -0.3% | 35.1% | ||
| Q3 24 | 9.1% | 96.3% | ||
| Q2 24 | 10.4% | 19.0% | ||
| Q1 24 | 12.4% | 0.8% |
每股收益（稀释后）GOLFRPRX
| Q4 25 | $-0.57 | $0.49 | ||
| Q3 25 | $0.81 | $0.67 | ||
| Q2 25 | $1.25 | $0.07 | ||
| Q1 25 | $1.62 | $0.55 | ||
| Q4 24 | $0.02 | $0.46 | ||
| Q3 24 | $0.89 | $1.21 | ||
| Q2 24 | $1.11 | $0.23 | ||
| Q1 24 | $1.35 | $0.01 |
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 | — | $618.7M |
| 总债务越低越好 | $926.2M | $9.0B |
| 股东权益账面价值 | $783.6M | $9.7B |
| 总资产 | $2.3B | $19.6B |
| 负债/权益比越低杠杆越低 | 1.18× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资GOLFRPRX
| Q4 25 | — | $618.7M | ||
| Q3 25 | — | $938.9M | ||
| Q2 25 | — | $631.9M | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $929.0M | ||
| Q3 24 | — | $950.1M | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $843.0M |
总债务GOLFRPRX
| Q4 25 | $926.2M | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | $753.1M | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B | ||
| Q1 24 | — | $6.1B |
股东权益GOLFRPRX
| Q4 25 | $783.6M | $9.7B | ||
| Q3 25 | $852.3M | $9.6B | ||
| Q2 25 | $808.5M | $9.5B | ||
| Q1 25 | $780.3M | $9.8B | ||
| Q4 24 | $765.2M | $10.3B | ||
| Q3 24 | $863.9M | $10.3B | ||
| Q2 24 | $863.7M | $9.8B | ||
| Q1 24 | $883.7M | $9.9B |
总资产GOLFRPRX
| Q4 25 | $2.3B | $19.6B | ||
| Q3 25 | $2.4B | $19.3B | ||
| Q2 25 | $2.4B | $18.3B | ||
| Q1 25 | $2.4B | $17.6B | ||
| Q4 24 | $2.2B | $18.2B | ||
| Q3 24 | $2.3B | $18.0B | ||
| Q2 24 | $2.3B | $17.7B | ||
| Q1 24 | $2.4B | $16.1B |
负债/权益比GOLFRPRX
| Q4 25 | 1.18× | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | 0.98× | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.62× |
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 | $-338.0K | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $-23.3M | — |
| 自由现金流率自由现金流/营收 | -4.9% | — |
| 资本支出强度资本支出/营收 | 4.8% | — |
| 现金转化率经营现金流/净利润 | — | 3.86× |
| 过去12个月自由现金流最近4个季度 | $120.0M | — |
8季度趋势，按日历期对齐
经营现金流GOLFRPRX
| Q4 25 | $-338.0K | $827.1M | ||
| Q3 25 | $163.1M | $702.6M | ||
| Q2 25 | $151.9M | $364.0M | ||
| Q1 25 | $-120.3M | $596.1M | ||
| Q4 24 | $-1.1M | $742.5M | ||
| Q3 24 | $144.1M | $703.6M | ||
| Q2 24 | $211.6M | $658.2M | ||
| Q1 24 | $-109.5M | $664.6M |
自由现金流GOLFRPRX
| Q4 25 | $-23.3M | — | ||
| Q3 25 | $136.9M | — | ||
| Q2 25 | $138.0M | — | ||
| Q1 25 | $-131.5M | — | ||
| Q4 24 | $-33.2M | — | ||
| Q3 24 | $123.7M | — | ||
| Q2 24 | $196.8M | — | ||
| Q1 24 | $-116.8M | — |
自由现金流率GOLFRPRX
| Q4 25 | -4.9% | — | ||
| Q3 25 | 20.8% | — | ||
| Q2 25 | 19.2% | — | ||
| Q1 25 | -18.7% | — | ||
| Q4 24 | -7.5% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | 28.8% | — | ||
| Q1 24 | -16.5% | — |
资本支出强度GOLFRPRX
| Q4 25 | 4.8% | — | ||
| Q3 25 | 4.0% | — | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 7.2% | — | ||
| Q3 24 | 3.3% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 1.0% | — |
现金转化率GOLFRPRX
| Q4 25 | — | 3.86× | ||
| Q3 25 | 3.36× | 2.44× | ||
| Q2 25 | 2.01× | 12.06× | ||
| Q1 25 | -1.21× | 2.50× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | 2.56× | 1.29× | ||
| Q2 24 | 2.96× | 6.45× | ||
| Q1 24 | -1.25× | 139.10× |
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
GOLF
| Titleist Golf Equipment | $293.8M | 62% |
| Footjoy Golf Wear | $102.0M | 21% |
| Other | $45.3M | 9% |
| Golf Gear | $36.1M | 8% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
