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WARRIOR MET COAL, INC.（HCC）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
WARRIOR MET COAL, INC.的季度营收约是ROYAL GOLD INC的1.0倍（$384.0M vs $375.3M），ROYAL GOLD INC净利率更高（24.9% vs 6.0%，领先19.0%），ROYAL GOLD INC同比增速更快（85.3% vs 29.1%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs -12.7%）
Warrior Met Coal（股票代码HCC）是总部位于美国的矿业企业，主营高品质冶金煤的开采与供应，其产品是钢铁制造的核心原材料，主要服务北美、欧洲、亚洲地区的钢铁生产商及工业客户。
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。
HCC vs RGLD — 直观对比
营收规模更大
HCC
是对方的1.0倍
$375.3M
营收增速更快
RGLD
高出56.2%
29.1%
净利率更高
RGLD
高出19.0%
6.0%
两年增速更快
RGLD
近两年复合增速
-12.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $384.0M | $375.3M |
| 净利润 | $23.0M | $93.6M |
| 毛利率 | 29.5% | 64.6% |
| 营业利润率 | 9.0% | 56.2% |
| 净利率 | 6.0% | 24.9% |
| 营收同比 | 29.1% | 85.3% |
| 净利润同比 | 1919.5% | -12.8% |
| 每股收益（稀释后） | $0.43 | $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HCCRGLD
| Q4 25 | $384.0M | $375.3M | ||
| Q3 25 | $328.6M | $252.1M | ||
| Q2 25 | $297.5M | $209.6M | ||
| Q1 25 | $299.9M | $193.4M | ||
| Q4 24 | $297.5M | $202.6M | ||
| Q3 24 | $327.7M | $193.8M | ||
| Q2 24 | $396.5M | $174.1M | ||
| Q1 24 | $503.5M | $148.9M |
净利润HCCRGLD
| Q4 25 | $23.0M | $93.6M | ||
| Q3 25 | $36.6M | $126.8M | ||
| Q2 25 | $5.6M | $132.3M | ||
| Q1 25 | $-8.2M | $113.5M | ||
| Q4 24 | $1.1M | $107.4M | ||
| Q3 24 | $41.8M | $96.2M | ||
| Q2 24 | $70.7M | $81.2M | ||
| Q1 24 | $137.0M | $47.2M |
毛利率HCCRGLD
| Q4 25 | 29.5% | 64.6% | ||
| Q3 25 | 27.1% | 73.6% | ||
| Q2 25 | 23.9% | 72.6% | ||
| Q1 25 | 18.1% | 69.4% | ||
| Q4 24 | 23.1% | 70.3% | ||
| Q3 24 | 29.3% | 66.6% | ||
| Q2 24 | 34.1% | 64.7% | ||
| Q1 24 | 43.3% | 58.4% |
营业利润率HCCRGLD
| Q4 25 | 9.0% | 56.2% | ||
| Q3 25 | 6.3% | 64.4% | ||
| Q2 25 | 2.6% | 67.7% | ||
| Q1 25 | -5.8% | 63.6% | ||
| Q4 24 | -1.4% | 65.9% | ||
| Q3 24 | 11.9% | 61.3% | ||
| Q2 24 | 17.9% | 58.6% | ||
| Q1 24 | 29.6% | 50.7% |
净利率HCCRGLD
| Q4 25 | 6.0% | 24.9% | ||
| Q3 25 | 11.1% | 50.3% | ||
| Q2 25 | 1.9% | 63.1% | ||
| Q1 25 | -2.7% | 58.7% | ||
| Q4 24 | 0.4% | 53.0% | ||
| Q3 24 | 12.7% | 49.7% | ||
| Q2 24 | 17.8% | 46.6% | ||
| Q1 24 | 27.2% | 31.7% |
每股收益（稀释后）HCCRGLD
| Q4 25 | $0.43 | $1.04 | ||
| Q3 25 | $0.70 | $1.92 | ||
| Q2 25 | $0.11 | $2.01 | ||
| Q1 25 | $-0.16 | $1.72 | ||
| Q4 24 | $0.02 | $1.63 | ||
| Q3 24 | $0.80 | $1.46 | ||
| Q2 24 | $1.35 | $1.23 | ||
| Q1 24 | $2.62 | $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 | $300.0M | $233.7M |
| 总债务越低越好 | $154.3M | — |
| 股东权益账面价值 | $2.1B | $7.2B |
| 总资产 | $2.8B | $9.5B |
| 负债/权益比越低杠杆越低 | 0.07× | — |
8季度趋势，按日历期对齐
现金及短期投资HCCRGLD
| Q4 25 | $300.0M | $233.7M | ||
| Q3 25 | $336.3M | $172.8M | ||
| Q2 25 | $383.3M | $248.2M | ||
| Q1 25 | $454.9M | $240.8M | ||
| Q4 24 | $491.5M | $195.5M | ||
| Q3 24 | $583.2M | $127.9M | ||
| Q2 24 | $709.0M | $74.2M | ||
| Q1 24 | $693.9M | $137.9M |
总债务HCCRGLD
| Q4 25 | $154.3M | — | ||
| Q3 25 | $154.1M | — | ||
| Q2 25 | $153.9M | — | ||
| Q1 25 | $153.8M | — | ||
| Q4 24 | $153.6M | — | ||
| Q3 24 | $153.5M | $0 | ||
| Q2 24 | $153.3M | $50.0M | ||
| Q1 24 | $153.2M | — |
股东权益HCCRGLD
| Q4 25 | $2.1B | $7.2B | ||
| Q3 25 | $2.1B | $3.4B | ||
| Q2 25 | $2.1B | $3.3B | ||
| Q1 25 | $2.1B | $3.2B | ||
| Q4 24 | $2.1B | $3.1B | ||
| Q3 24 | $2.1B | $3.0B | ||
| Q2 24 | $2.0B | $3.0B | ||
| Q1 24 | $2.0B | $2.9B |
总资产HCCRGLD
| Q4 25 | $2.8B | $9.5B | ||
| Q3 25 | $2.7B | $4.5B | ||
| Q2 25 | $2.6B | $3.6B | ||
| Q1 25 | $2.6B | $3.5B | ||
| Q4 24 | $2.6B | $3.4B | ||
| Q3 24 | $2.6B | $3.3B | ||
| Q2 24 | $2.6B | $3.3B | ||
| Q1 24 | $2.5B | $3.3B |
负债/权益比HCCRGLD
| Q4 25 | 0.07× | — | ||
| Q3 25 | 0.07× | — | ||
| Q2 25 | 0.07× | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 0.07× | — | ||
| Q3 24 | 0.07× | 0.00× | ||
| Q2 24 | 0.07× | 0.02× | ||
| Q1 24 | 0.08× | — |
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 | $76.1M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 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 | 3.31× | 2.58× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流HCCRGLD
| Q4 25 | $76.1M | $241.7M | ||
| Q3 25 | $104.7M | $174.0M | ||
| Q2 25 | $37.5M | $152.8M | ||
| Q1 25 | $10.9M | $136.4M | ||
| Q4 24 | $54.2M | $141.1M | ||
| Q3 24 | $62.2M | $136.7M | ||
| Q2 24 | $147.0M | $113.5M | ||
| Q1 24 | $104.1M | $138.3M |
现金转化率HCCRGLD
| Q4 25 | 3.31× | 2.58× | ||
| Q3 25 | 2.86× | 1.37× | ||
| Q2 25 | 6.70× | 1.15× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | 47.68× | 1.31× | ||
| Q3 24 | 1.49× | 1.42× | ||
| Q2 24 | 2.08× | 1.40× | ||
| Q1 24 | 0.76× | 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
HCC
| Mining Segment | $373.6M | 97% |
| Other | $10.4M | 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% |
