vs
HALOZYME THERAPEUTICS, INC.（HALO）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
HALOZYME THERAPEUTICS, INC.的季度营收约是ROYAL GOLD INC的1.2倍（$451.8M vs $375.3M），ROYAL GOLD INC净利率更高（24.9% vs -31.3%，领先56.3%），ROYAL GOLD INC同比增速更快（85.3% vs 51.6%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 51.9%）
Halozyme Therapeutics是一家美国生物技术企业，专注于肿瘤领域创新疗法研发，核心管线均针对肿瘤微环境进行靶向干预，致力于为全球癌症患者提供更安全高效的治疗选择。
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。
HALO vs RGLD — 直观对比
营收规模更大
HALO
是对方的1.2倍
$375.3M
营收增速更快
RGLD
高出33.7%
51.6%
净利率更高
RGLD
高出56.3%
-31.3%
两年增速更快
RGLD
近两年复合增速
51.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $451.8M | $375.3M |
| 净利润 | $-141.6M | $93.6M |
| 毛利率 | 82.6% | 64.6% |
| 营业利润率 | -20.6% | 56.2% |
| 净利率 | -31.3% | 24.9% |
| 营收同比 | 51.6% | 85.3% |
| 净利润同比 | -203.3% | -12.8% |
| 每股收益（稀释后） | $-1.13 | $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HALORGLD
| Q4 25 | $451.8M | $375.3M | ||
| Q3 25 | $354.3M | $252.1M | ||
| Q2 25 | $325.7M | $209.6M | ||
| Q1 25 | $264.9M | $193.4M | ||
| Q4 24 | $298.0M | $202.6M | ||
| Q3 24 | $290.1M | $193.8M | ||
| Q2 24 | $231.4M | $174.1M | ||
| Q1 24 | $195.9M | $148.9M |
净利润HALORGLD
| Q4 25 | $-141.6M | $93.6M | ||
| Q3 25 | $175.2M | $126.8M | ||
| Q2 25 | $165.2M | $132.3M | ||
| Q1 25 | $118.1M | $113.5M | ||
| Q4 24 | $137.0M | $107.4M | ||
| Q3 24 | $137.0M | $96.2M | ||
| Q2 24 | $93.2M | $81.2M | ||
| Q1 24 | $76.8M | $47.2M |
毛利率HALORGLD
| Q4 25 | 82.6% | 64.6% | ||
| Q3 25 | 84.4% | 73.6% | ||
| Q2 25 | 85.8% | 72.6% | ||
| Q1 25 | 81.7% | 69.4% | ||
| Q4 24 | 85.9% | 70.3% | ||
| Q3 24 | 83.0% | 66.6% | ||
| Q2 24 | 82.9% | 64.7% | ||
| Q1 24 | 85.5% | 58.4% |
营业利润率HALORGLD
| Q4 25 | -20.6% | 56.2% | ||
| Q3 25 | 61.5% | 64.4% | ||
| Q2 25 | 62.2% | 67.7% | ||
| Q1 25 | 53.4% | 63.6% | ||
| Q4 24 | 58.9% | 65.9% | ||
| Q3 24 | 56.3% | 61.3% | ||
| Q2 24 | 50.7% | 58.6% | ||
| Q1 24 | 48.8% | 50.7% |
净利率HALORGLD
| Q4 25 | -31.3% | 24.9% | ||
| Q3 25 | 49.5% | 50.3% | ||
| Q2 25 | 50.7% | 63.1% | ||
| Q1 25 | 44.6% | 58.7% | ||
| Q4 24 | 46.0% | 53.0% | ||
| Q3 24 | 47.2% | 49.7% | ||
| Q2 24 | 40.3% | 46.6% | ||
| Q1 24 | 39.2% | 31.7% |
每股收益（稀释后）HALORGLD
| Q4 25 | $-1.13 | $1.04 | ||
| Q3 25 | $1.43 | $1.92 | ||
| Q2 25 | $1.33 | $2.01 | ||
| Q1 25 | $0.93 | $1.72 | ||
| Q4 24 | $1.06 | $1.63 | ||
| Q3 24 | $1.05 | $1.46 | ||
| Q2 24 | $0.72 | $1.23 | ||
| Q1 24 | $0.60 | $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 | $133.8M | $233.7M |
| 总债务越低越好 | $2.1B | — |
| 股东权益账面价值 | $48.8M | $7.2B |
| 总资产 | $2.5B | $9.5B |
| 负债/权益比越低杠杆越低 | 43.89× | — |
8季度趋势，按日历期对齐
现金及短期投资HALORGLD
| Q4 25 | $133.8M | $233.7M | ||
| Q3 25 | $419.7M | $172.8M | ||
| Q2 25 | $61.9M | $248.2M | ||
| Q1 25 | $176.3M | $240.8M | ||
| Q4 24 | $115.8M | $195.5M | ||
| Q3 24 | $154.3M | $127.9M | ||
| Q2 24 | $187.9M | $74.2M | ||
| Q1 24 | $164.6M | $137.9M |
总债务HALORGLD
| Q4 25 | $2.1B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | $0 | ||
| Q2 24 | $1.5B | $50.0M | ||
| Q1 24 | $1.5B | — |
股东权益HALORGLD
| Q4 25 | $48.8M | $7.2B | ||
| Q3 25 | $503.9M | $3.4B | ||
| Q2 25 | $332.7M | $3.3B | ||
| Q1 25 | $482.3M | $3.2B | ||
| Q4 24 | $363.8M | $3.1B | ||
| Q3 24 | $452.7M | $3.0B | ||
| Q2 24 | $289.4M | $3.0B | ||
| Q1 24 | $177.8M | $2.9B |
总资产HALORGLD
| Q4 25 | $2.5B | $9.5B | ||
| Q3 25 | $2.2B | $4.5B | ||
| Q2 25 | $2.1B | $3.6B | ||
| Q1 25 | $2.2B | $3.5B | ||
| Q4 24 | $2.1B | $3.4B | ||
| Q3 24 | $2.1B | $3.3B | ||
| Q2 24 | $2.0B | $3.3B | ||
| Q1 24 | $1.8B | $3.3B |
负债/权益比HALORGLD
| Q4 25 | 43.89× | — | ||
| Q3 25 | 3.00× | — | ||
| Q2 25 | 4.54× | — | ||
| Q1 25 | 3.13× | — | ||
| Q4 24 | 4.14× | — | ||
| Q3 24 | 3.32× | 0.00× | ||
| Q2 24 | 5.19× | 0.02× | ||
| Q1 24 | 8.44× | — |
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 | $219.0M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $217.6M | — |
| 自由现金流率自由现金流/营收 | 48.2% | — |
| 资本支出强度资本支出/营收 | 0.3% | — |
| 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 | $644.6M | — |
8季度趋势，按日历期对齐
经营现金流HALORGLD
| Q4 25 | $219.0M | $241.7M | ||
| Q3 25 | $178.6M | $174.0M | ||
| Q2 25 | $99.7M | $152.8M | ||
| Q1 25 | $154.2M | $136.4M | ||
| Q4 24 | $178.5M | $141.1M | ||
| Q3 24 | $115.4M | $136.7M | ||
| Q2 24 | $55.8M | $113.5M | ||
| Q1 24 | $129.4M | $138.3M |
自由现金流HALORGLD
| Q4 25 | $217.6M | — | ||
| Q3 25 | $175.6M | — | ||
| Q2 25 | $98.1M | — | ||
| Q1 25 | $153.3M | — | ||
| Q4 24 | $175.4M | — | ||
| Q3 24 | $113.9M | — | ||
| Q2 24 | $53.2M | — | ||
| Q1 24 | $125.9M | — |
自由现金流率HALORGLD
| Q4 25 | 48.2% | — | ||
| Q3 25 | 49.6% | — | ||
| Q2 25 | 30.1% | — | ||
| Q1 25 | 57.9% | — | ||
| Q4 24 | 58.9% | — | ||
| Q3 24 | 39.3% | — | ||
| Q2 24 | 23.0% | — | ||
| Q1 24 | 64.3% | — |
资本支出强度HALORGLD
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.9% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 1.0% | — | ||
| Q3 24 | 0.5% | — | ||
| Q2 24 | 1.1% | — | ||
| Q1 24 | 1.8% | — |
现金转化率HALORGLD
| Q4 25 | — | 2.58× | ||
| Q3 25 | 1.02× | 1.37× | ||
| Q2 25 | 0.60× | 1.15× | ||
| Q1 25 | 1.31× | 1.20× | ||
| Q4 24 | 1.30× | 1.31× | ||
| Q3 24 | 0.84× | 1.42× | ||
| Q2 24 | 0.60× | 1.40× | ||
| Q1 24 | 1.68× | 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
HALO
| Royalty | $258.0M | 57% |
| Products | $122.7M | 27% |
| Proprietary Products Sales | $59.6M | 13% |
| Device Partnered Products | $12.9M | 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% |
