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HNI CORP（HNI）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
HNI CORP的季度营收约是ROYAL GOLD INC的1.8倍（$683.8M vs $375.3M），ROYAL GOLD INC净利率更高（24.9% vs 6.0%，领先18.9%），ROYAL GOLD INC同比增速更快（85.3% vs 1.7%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 0.3%）
HNI公司是全球营收规模领先的办公家具制造商之一，同时也是全球壁炉产品行业的头部企业，生产销售燃气、电、燃木及生物质燃料壁炉、嵌入式炉具、取暖炉、饰面及相关配件。公司1944年由工程师C.麦克斯韦·斯坦利等三人联合创立，总部位于美国爱荷华州马斯卡廷。
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。
HNI vs RGLD — 直观对比
营收规模更大
HNI
是对方的1.8倍
$375.3M
营收增速更快
RGLD
高出83.6%
1.7%
净利率更高
RGLD
高出18.9%
6.0%
两年增速更快
RGLD
近两年复合增速
0.3%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $683.8M | $375.3M |
| 净利润 | $41.2M | $93.6M |
| 毛利率 | 42.1% | 64.6% |
| 营业利润率 | 9.4% | 56.2% |
| 净利率 | 6.0% | 24.9% |
| 营收同比 | 1.7% | 85.3% |
| 净利润同比 | -13.3% | -12.8% |
| 每股收益（稀释后） | $0.88 | $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HNIRGLD
| Q4 25 | — | $375.3M | ||
| Q3 25 | $683.8M | $252.1M | ||
| Q2 25 | $667.1M | $209.6M | ||
| Q1 25 | $599.8M | $193.4M | ||
| Q4 24 | $642.5M | $202.6M | ||
| Q3 24 | $672.2M | $193.8M | ||
| Q2 24 | $623.7M | $174.1M | ||
| Q1 24 | $588.0M | $148.9M |
净利润HNIRGLD
| Q4 25 | — | $93.6M | ||
| Q3 25 | $41.2M | $126.8M | ||
| Q2 25 | $48.2M | $132.3M | ||
| Q1 25 | $13.9M | $113.5M | ||
| Q4 24 | $38.3M | $107.4M | ||
| Q3 24 | $47.5M | $96.2M | ||
| Q2 24 | $36.0M | $81.2M | ||
| Q1 24 | $17.7M | $47.2M |
毛利率HNIRGLD
| Q4 25 | — | 64.6% | ||
| Q3 25 | 42.1% | 73.6% | ||
| Q2 25 | 42.9% | 72.6% | ||
| Q1 25 | 39.7% | 69.4% | ||
| Q4 24 | 40.5% | 70.3% | ||
| Q3 24 | 41.5% | 66.6% | ||
| Q2 24 | 41.9% | 64.7% | ||
| Q1 24 | 39.6% | 58.4% |
营业利润率HNIRGLD
| Q4 25 | — | 56.2% | ||
| Q3 25 | 9.4% | 64.4% | ||
| Q2 25 | 10.2% | 67.7% | ||
| Q1 25 | 4.1% | 63.6% | ||
| Q4 24 | 8.5% | 65.9% | ||
| Q3 24 | 10.2% | 61.3% | ||
| Q2 24 | 8.6% | 58.6% | ||
| Q1 24 | 5.1% | 50.7% |
净利率HNIRGLD
| Q4 25 | — | 24.9% | ||
| Q3 25 | 6.0% | 50.3% | ||
| Q2 25 | 7.2% | 63.1% | ||
| Q1 25 | 2.3% | 58.7% | ||
| Q4 24 | 6.0% | 53.0% | ||
| Q3 24 | 7.1% | 49.7% | ||
| Q2 24 | 5.8% | 46.6% | ||
| Q1 24 | 3.0% | 31.7% |
每股收益（稀释后）HNIRGLD
| Q4 25 | — | $1.04 | ||
| Q3 25 | $0.88 | $1.92 | ||
| Q2 25 | $1.02 | $2.01 | ||
| Q1 25 | $0.29 | $1.72 | ||
| Q4 24 | $0.78 | $1.63 | ||
| Q3 24 | $0.98 | $1.46 | ||
| Q2 24 | $0.75 | $1.23 | ||
| Q1 24 | $0.37 | $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 | $28.1M | $233.7M |
| 总债务越低越好 | $324.2M | — |
| 股东权益账面价值 | $835.9M | $7.2B |
| 总资产 | $1.8B | $9.5B |
| 负债/权益比越低杠杆越低 | 0.39× | — |
8季度趋势，按日历期对齐
现金及短期投资HNIRGLD
| Q4 25 | — | $233.7M | ||
| Q3 25 | $28.1M | $172.8M | ||
| Q2 25 | $38.2M | $248.2M | ||
| Q1 25 | $27.5M | $240.8M | ||
| Q4 24 | $28.9M | $195.5M | ||
| Q3 24 | $40.2M | $127.9M | ||
| Q2 24 | $33.5M | $74.2M | ||
| Q1 24 | $32.5M | $137.9M |
总债务HNIRGLD
| Q4 25 | — | — | ||
| Q3 25 | $324.2M | — | ||
| Q2 25 | $444.4M | — | ||
| Q1 25 | $404.7M | — | ||
| Q4 24 | $344.6M | — | ||
| Q3 24 | $345.4M | $0 | ||
| Q2 24 | $462.3M | $50.0M | ||
| Q1 24 | $473.0M | — |
股东权益HNIRGLD
| Q4 25 | — | $7.2B | ||
| Q3 25 | $835.9M | $3.4B | ||
| Q2 25 | $811.0M | $3.3B | ||
| Q1 25 | $803.6M | $3.2B | ||
| Q4 24 | $840.1M | $3.1B | ||
| Q3 24 | $846.6M | $3.0B | ||
| Q2 24 | $787.8M | $3.0B | ||
| Q1 24 | $771.5M | $2.9B |
总资产HNIRGLD
| Q4 25 | — | $9.5B | ||
| Q3 25 | $1.8B | $4.5B | ||
| Q2 25 | $1.9B | $3.6B | ||
| Q1 25 | $1.9B | $3.5B | ||
| Q4 24 | $1.9B | $3.4B | ||
| Q3 24 | $1.9B | $3.3B | ||
| Q2 24 | $1.9B | $3.3B | ||
| Q1 24 | $1.9B | $3.3B |
负债/权益比HNIRGLD
| Q4 25 | — | — | ||
| Q3 25 | 0.39× | — | ||
| Q2 25 | 0.55× | — | ||
| Q1 25 | 0.50× | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.41× | 0.00× | ||
| Q2 24 | 0.59× | 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 | $155.2M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $135.6M | — |
| 自由现金流率自由现金流/营收 | 19.8% | — |
| 资本支出强度资本支出/营收 | 2.9% | — |
| 现金转化率经营现金流/净利润 | 3.77× | 2.58× |
| 过去12个月自由现金流最近4个季度 | $189.5M | — |
8季度趋势，按日历期对齐
经营现金流HNIRGLD
| Q4 25 | — | $241.7M | ||
| Q3 25 | $155.2M | $174.0M | ||
| Q2 25 | $31.1M | $152.8M | ||
| Q1 25 | $12.6M | $136.4M | ||
| Q4 24 | $51.2M | $141.1M | ||
| Q3 24 | $128.5M | $136.7M | ||
| Q2 24 | $51.3M | $113.5M | ||
| Q1 24 | $-4.3M | $138.3M |
自由现金流HNIRGLD
| Q4 25 | — | — | ||
| Q3 25 | $135.6M | — | ||
| Q2 25 | $16.1M | — | ||
| Q1 25 | $-3.7M | — | ||
| Q4 24 | $41.5M | — | ||
| Q3 24 | $114.0M | — | ||
| Q2 24 | $33.8M | — | ||
| Q1 24 | $-15.5M | — |
自由现金流率HNIRGLD
| Q4 25 | — | — | ||
| Q3 25 | 19.8% | — | ||
| Q2 25 | 2.4% | — | ||
| Q1 25 | -0.6% | — | ||
| Q4 24 | 6.5% | — | ||
| Q3 24 | 17.0% | — | ||
| Q2 24 | 5.4% | — | ||
| Q1 24 | -2.6% | — |
资本支出强度HNIRGLD
| Q4 25 | — | — | ||
| Q3 25 | 2.9% | — | ||
| Q2 25 | 2.2% | — | ||
| Q1 25 | 2.7% | — | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 2.2% | — | ||
| Q2 24 | 2.8% | — | ||
| Q1 24 | 1.9% | — |
现金转化率HNIRGLD
| Q4 25 | — | 2.58× | ||
| Q3 25 | 3.77× | 1.37× | ||
| Q2 25 | 0.65× | 1.15× | ||
| Q1 25 | 0.91× | 1.20× | ||
| Q4 24 | 1.34× | 1.31× | ||
| Q3 24 | 2.71× | 1.42× | ||
| Q2 24 | 1.43× | 1.40× | ||
| Q1 24 | -0.24× | 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
HNI
| Systems Storage And Table | $309.9M | 45% |
| Residential Building Products | $166.9M | 24% |
| Seating Products | $161.1M | 24% |
| Other Products | $45.9M | 7% |
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% |
