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INSMED Inc（INSM）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
ROYAL GOLD INC的季度营收约是INSMED Inc的1.4倍（$375.3M vs $263.8M），ROYAL GOLD INC净利率更高（24.9% vs -124.5%，领先149.4%），INSMED Inc同比增速更快（152.6% vs 85.3%），过去两年INSMED Inc的营收复合增速更高（86.9% vs 58.8%）
Insmed Inc.是一家全球性生物制药公司，专注于为存在高度未满足医疗需求的严重罕见病患者开发、商业化创新疗法，核心布局肺部、内分泌类罕见病治疗赛道，服务覆盖北美、欧洲及亚太地区的患者群体。
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。
INSM vs RGLD — 直观对比
营收规模更大
RGLD
是对方的1.4倍
$263.8M
营收增速更快
INSM
高出67.3%
85.3%
净利率更高
RGLD
高出149.4%
-124.5%
两年增速更快
INSM
近两年复合增速
58.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $263.8M | $375.3M |
| 净利润 | $-328.5M | $93.6M |
| 毛利率 | 83.2% | 64.6% |
| 营业利润率 | -121.2% | 56.2% |
| 净利率 | -124.5% | 24.9% |
| 营收同比 | 152.6% | 85.3% |
| 净利润同比 | -39.5% | -12.8% |
| 每股收益（稀释后） | $-1.55 | $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INSMRGLD
| Q4 25 | $263.8M | $375.3M | ||
| Q3 25 | $142.3M | $252.1M | ||
| Q2 25 | $107.4M | $209.6M | ||
| Q1 25 | $92.8M | $193.4M | ||
| Q4 24 | $104.4M | $202.6M | ||
| Q3 24 | $93.4M | $193.8M | ||
| Q2 24 | $90.3M | $174.1M | ||
| Q1 24 | $75.5M | $148.9M |
净利润INSMRGLD
| Q4 25 | $-328.5M | $93.6M | ||
| Q3 25 | $-370.0M | $126.8M | ||
| Q2 25 | $-321.7M | $132.3M | ||
| Q1 25 | $-256.6M | $113.5M | ||
| Q4 24 | $-235.5M | $107.4M | ||
| Q3 24 | $-220.5M | $96.2M | ||
| Q2 24 | $-300.6M | $81.2M | ||
| Q1 24 | $-157.1M | $47.2M |
毛利率INSMRGLD
| Q4 25 | 83.2% | 64.6% | ||
| Q3 25 | 79.4% | 73.6% | ||
| Q2 25 | 73.9% | 72.6% | ||
| Q1 25 | 77.1% | 69.4% | ||
| Q4 24 | 75.0% | 70.3% | ||
| Q3 24 | 77.3% | 66.6% | ||
| Q2 24 | 76.8% | 64.7% | ||
| Q1 24 | 76.9% | 58.4% |
营业利润率INSMRGLD
| Q4 25 | -121.2% | 56.2% | ||
| Q3 25 | -257.1% | 64.4% | ||
| Q2 25 | -291.3% | 67.7% | ||
| Q1 25 | -267.3% | 63.6% | ||
| Q4 24 | -220.6% | 65.9% | ||
| Q3 24 | -228.4% | 61.3% | ||
| Q2 24 | -319.8% | 58.6% | ||
| Q1 24 | -192.7% | 50.7% |
净利率INSMRGLD
| Q4 25 | -124.5% | 24.9% | ||
| Q3 25 | -260.0% | 50.3% | ||
| Q2 25 | -299.5% | 63.1% | ||
| Q1 25 | -276.4% | 58.7% | ||
| Q4 24 | -225.5% | 53.0% | ||
| Q3 24 | -236.0% | 49.7% | ||
| Q2 24 | -332.8% | 46.6% | ||
| Q1 24 | -208.1% | 31.7% |
每股收益（稀释后）INSMRGLD
| Q4 25 | $-1.55 | $1.04 | ||
| Q3 25 | $-1.75 | $1.92 | ||
| Q2 25 | $-1.70 | $2.01 | ||
| Q1 25 | $-1.42 | $1.72 | ||
| Q4 24 | $-1.30 | $1.63 | ||
| Q3 24 | $-1.27 | $1.46 | ||
| Q2 24 | $-1.94 | $1.23 | ||
| Q1 24 | $-1.06 | $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 | $1.4B | $233.7M |
| 总债务越低越好 | $546.8M | — |
| 股东权益账面价值 | $739.0M | $7.2B |
| 总资产 | $2.3B | $9.5B |
| 负债/权益比越低杠杆越低 | 0.74× | — |
8季度趋势，按日历期对齐
现金及短期投资INSMRGLD
| Q4 25 | $1.4B | $233.7M | ||
| Q3 25 | $1.7B | $172.8M | ||
| Q2 25 | $1.9B | $248.2M | ||
| Q1 25 | $1.2B | $240.8M | ||
| Q4 24 | $1.4B | $195.5M | ||
| Q3 24 | $1.5B | $127.9M | ||
| Q2 24 | $1.2B | $74.2M | ||
| Q1 24 | $595.7M | $137.9M |
总债务INSMRGLD
| Q4 25 | $546.8M | — | ||
| Q3 25 | $546.8M | — | ||
| Q2 25 | $546.8M | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $971.8M | $0 | ||
| Q2 24 | $1.2B | $50.0M | ||
| Q1 24 | $1.2B | — |
股东权益INSMRGLD
| Q4 25 | $739.0M | $7.2B | ||
| Q3 25 | $945.6M | $3.4B | ||
| Q2 25 | $1.2B | $3.3B | ||
| Q1 25 | $99.2M | $3.2B | ||
| Q4 24 | $285.4M | $3.1B | ||
| Q3 24 | $483.4M | $3.0B | ||
| Q2 24 | $38.8M | $3.0B | ||
| Q1 24 | $-464.8M | $2.9B |
总资产INSMRGLD
| Q4 25 | $2.3B | $9.5B | ||
| Q3 25 | $2.4B | $4.5B | ||
| Q2 25 | $2.5B | $3.6B | ||
| Q1 25 | $1.8B | $3.5B | ||
| Q4 24 | $2.0B | $3.4B | ||
| Q3 24 | $2.1B | $3.3B | ||
| Q2 24 | $1.8B | $3.3B | ||
| Q1 24 | $1.2B | $3.3B |
负债/权益比INSMRGLD
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.58× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 11.31× | — | ||
| Q4 24 | 3.93× | — | ||
| Q3 24 | 2.01× | 0.00× | ||
| Q2 24 | 30.66× | 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 | $-247.6M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $-264.2M | — |
| 自由现金流率自由现金流/营收 | -100.1% | — |
| 资本支出强度资本支出/营收 | 6.3% | — |
| 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 | $-967.6M | — |
8季度趋势，按日历期对齐
经营现金流INSMRGLD
| Q4 25 | $-247.6M | $241.7M | ||
| Q3 25 | $-219.8M | $174.0M | ||
| Q2 25 | $-205.6M | $152.8M | ||
| Q1 25 | $-262.1M | $136.4M | ||
| Q4 24 | $-196.0M | $141.1M | ||
| Q3 24 | $-180.9M | $136.7M | ||
| Q2 24 | $-123.0M | $113.5M | ||
| Q1 24 | $-184.0M | $138.3M |
自由现金流INSMRGLD
| Q4 25 | $-264.2M | — | ||
| Q3 25 | $-222.2M | — | ||
| Q2 25 | $-209.1M | — | ||
| Q1 25 | $-272.2M | — | ||
| Q4 24 | $-202.8M | — | ||
| Q3 24 | $-184.6M | — | ||
| Q2 24 | $-129.7M | — | ||
| Q1 24 | $-188.7M | — |
自由现金流率INSMRGLD
| Q4 25 | -100.1% | — | ||
| Q3 25 | -156.1% | — | ||
| Q2 25 | -194.6% | — | ||
| Q1 25 | -293.2% | — | ||
| Q4 24 | -194.1% | — | ||
| Q3 24 | -197.6% | — | ||
| Q2 24 | -143.6% | — | ||
| Q1 24 | -250.0% | — |
资本支出强度INSMRGLD
| Q4 25 | 6.3% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 10.8% | — | ||
| Q4 24 | 6.5% | — | ||
| Q3 24 | 3.9% | — | ||
| Q2 24 | 7.5% | — | ||
| Q1 24 | 6.2% | — |
现金转化率INSMRGLD
| Q4 25 | — | 2.58× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | — | 1.31× | ||
| Q3 24 | — | 1.42× | ||
| Q2 24 | — | 1.40× | ||
| Q1 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
INSM
暂无分部数据
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% |
