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KADANT INC（KAI）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KADANT INC的1.4倍（$375.3M vs $271.6M），ROYAL GOLD INC净利率更高（24.9% vs 10.2%，领先14.7%），ROYAL GOLD INC同比增速更快（85.3% vs -0.0%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 6.7%）
Kadant Inc.创立于1991年，最初是Thermo Electron的子公司，部分股权私有、部分公开交易，2001年完成完全分拆并启用现名。公司服务于造纸、废纸回收、木材加工、物料搬运等多个加工领域，是业务覆盖亚洲、欧洲、北美、南美的跨国企业。
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。
KAI vs RGLD — 直观对比
营收规模更大
RGLD
是对方的1.4倍
$271.6M
营收增速更快
RGLD
高出85.3%
-0.0%
净利率更高
RGLD
高出14.7%
10.2%
两年增速更快
RGLD
近两年复合增速
6.7%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $271.6M | $375.3M |
| 净利润 | $27.7M | $93.6M |
| 毛利率 | 45.2% | 64.6% |
| 营业利润率 | 15.7% | 56.2% |
| 净利率 | 10.2% | 24.9% |
| 营收同比 | -0.0% | 85.3% |
| 净利润同比 | -12.2% | -12.8% |
| 每股收益（稀释后） | $2.35 | $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KAIRGLD
| Q4 25 | — | $375.3M | ||
| Q3 25 | $271.6M | $252.1M | ||
| Q2 25 | $255.3M | $209.6M | ||
| Q1 25 | $239.2M | $193.4M | ||
| Q4 24 | $258.0M | $202.6M | ||
| Q3 24 | $271.6M | $193.8M | ||
| Q2 24 | $274.8M | $174.1M | ||
| Q1 24 | $249.0M | $148.9M |
净利润KAIRGLD
| Q4 25 | — | $93.6M | ||
| Q3 25 | $27.7M | $126.8M | ||
| Q2 25 | $26.2M | $132.3M | ||
| Q1 25 | $24.1M | $113.5M | ||
| Q4 24 | $24.0M | $107.4M | ||
| Q3 24 | $31.6M | $96.2M | ||
| Q2 24 | $31.3M | $81.2M | ||
| Q1 24 | $24.7M | $47.2M |
毛利率KAIRGLD
| Q4 25 | — | 64.6% | ||
| Q3 25 | 45.2% | 73.6% | ||
| Q2 25 | 45.9% | 72.6% | ||
| Q1 25 | 46.1% | 69.4% | ||
| Q4 24 | 43.4% | 70.3% | ||
| Q3 24 | 44.7% | 66.6% | ||
| Q2 24 | 44.4% | 64.7% | ||
| Q1 24 | 44.6% | 58.4% |
营业利润率KAIRGLD
| Q4 25 | — | 56.2% | ||
| Q3 25 | 15.7% | 64.4% | ||
| Q2 25 | 15.4% | 67.7% | ||
| Q1 25 | 14.9% | 63.6% | ||
| Q4 24 | 14.3% | 65.9% | ||
| Q3 24 | 18.0% | 61.3% | ||
| Q2 24 | 17.6% | 58.6% | ||
| Q1 24 | 14.8% | 50.7% |
净利率KAIRGLD
| Q4 25 | — | 24.9% | ||
| Q3 25 | 10.2% | 50.3% | ||
| Q2 25 | 10.2% | 63.1% | ||
| Q1 25 | 10.1% | 58.7% | ||
| Q4 24 | 9.3% | 53.0% | ||
| Q3 24 | 11.6% | 49.7% | ||
| Q2 24 | 11.4% | 46.6% | ||
| Q1 24 | 9.9% | 31.7% |
每股收益（稀释后）KAIRGLD
| Q4 25 | — | $1.04 | ||
| Q3 25 | $2.35 | $1.92 | ||
| Q2 25 | $2.22 | $2.01 | ||
| Q1 25 | $2.04 | $1.72 | ||
| Q4 24 | $2.04 | $1.63 | ||
| Q3 24 | $2.68 | $1.46 | ||
| Q2 24 | $2.66 | $1.23 | ||
| Q1 24 | $2.10 | $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 | $124.5M | $233.7M |
| 总债务越低越好 | $254.6M | — |
| 股东权益账面价值 | $949.8M | $7.2B |
| 总资产 | $1.5B | $9.5B |
| 负债/权益比越低杠杆越低 | 0.27× | — |
8季度趋势，按日历期对齐
现金及短期投资KAIRGLD
| Q4 25 | — | $233.7M | ||
| Q3 25 | $124.5M | $172.8M | ||
| Q2 25 | $95.3M | $248.2M | ||
| Q1 25 | $91.7M | $240.8M | ||
| Q4 24 | $94.7M | $195.5M | ||
| Q3 24 | $88.4M | $127.9M | ||
| Q2 24 | $73.8M | $74.2M | ||
| Q1 24 | $81.4M | $137.9M |
总债务KAIRGLD
| Q4 25 | — | — | ||
| Q3 25 | $254.6M | — | ||
| Q2 25 | $245.7M | — | ||
| Q1 25 | $273.5M | — | ||
| Q4 24 | $285.2M | — | ||
| Q3 24 | $323.2M | $0 | ||
| Q2 24 | $342.0M | $50.0M | ||
| Q1 24 | $306.8M | — |
股东权益KAIRGLD
| Q4 25 | — | $7.2B | ||
| Q3 25 | $949.8M | $3.4B | ||
| Q2 25 | $926.0M | $3.3B | ||
| Q1 25 | $876.0M | $3.2B | ||
| Q4 24 | $847.1M | $3.1B | ||
| Q3 24 | $851.7M | $3.0B | ||
| Q2 24 | $807.7M | $3.0B | ||
| Q1 24 | $782.7M | $2.9B |
总资产KAIRGLD
| Q4 25 | — | $9.5B | ||
| Q3 25 | $1.5B | $4.5B | ||
| Q2 25 | $1.5B | $3.6B | ||
| Q1 25 | $1.4B | $3.5B | ||
| Q4 24 | $1.4B | $3.4B | ||
| Q3 24 | $1.5B | $3.3B | ||
| Q2 24 | $1.5B | $3.3B | ||
| Q1 24 | $1.4B | $3.3B |
负债/权益比KAIRGLD
| Q4 25 | — | — | ||
| Q3 25 | 0.27× | — | ||
| Q2 25 | 0.27× | — | ||
| Q1 25 | 0.31× | — | ||
| Q4 24 | 0.34× | — | ||
| Q3 24 | 0.38× | 0.00× | ||
| Q2 24 | 0.42× | 0.02× | ||
| Q1 24 | 0.39× | — |
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 | $47.3M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $44.1M | — |
| 自由现金流率自由现金流/营收 | 16.2% | — |
| 资本支出强度资本支出/营收 | 1.2% | — |
| 现金转化率经营现金流/净利润 | 1.70× | 2.58× |
| 过去12个月自由现金流最近4个季度 | $145.9M | — |
8季度趋势，按日历期对齐
经营现金流KAIRGLD
| Q4 25 | — | $241.7M | ||
| Q3 25 | $47.3M | $174.0M | ||
| Q2 25 | $40.5M | $152.8M | ||
| Q1 25 | $22.8M | $136.4M | ||
| Q4 24 | $51.9M | $141.1M | ||
| Q3 24 | $52.5M | $136.7M | ||
| Q2 24 | $28.1M | $113.5M | ||
| Q1 24 | $22.8M | $138.3M |
自由现金流KAIRGLD
| Q4 25 | — | — | ||
| Q3 25 | $44.1M | — | ||
| Q2 25 | $36.5M | — | ||
| Q1 25 | $19.0M | — | ||
| Q4 24 | $46.3M | — | ||
| Q3 24 | $48.3M | — | ||
| Q2 24 | $23.1M | — | ||
| Q1 24 | $16.6M | — |
自由现金流率KAIRGLD
| Q4 25 | — | — | ||
| Q3 25 | 16.2% | — | ||
| Q2 25 | 14.3% | — | ||
| Q1 25 | 7.9% | — | ||
| Q4 24 | 17.9% | — | ||
| Q3 24 | 17.8% | — | ||
| Q2 24 | 8.4% | — | ||
| Q1 24 | 6.7% | — |
资本支出强度KAIRGLD
| Q4 25 | — | — | ||
| Q3 25 | 1.2% | — | ||
| Q2 25 | 1.6% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 2.2% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 1.8% | — | ||
| Q1 24 | 2.5% | — |
现金转化率KAIRGLD
| Q4 25 | — | 2.58× | ||
| Q3 25 | 1.70× | 1.37× | ||
| Q2 25 | 1.55× | 1.15× | ||
| Q1 25 | 0.95× | 1.20× | ||
| Q4 24 | 2.16× | 1.31× | ||
| Q3 24 | 1.66× | 1.42× | ||
| Q2 24 | 0.90× | 1.40× | ||
| Q1 24 | 0.92× | 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
KAI
| Flow Control | $94.8M | 35% |
| Capital | $83.2M | 31% |
| Material Handling Systems | $70.3M | 26% |
| Transferred Over Time | $17.1M | 6% |
| Other | $6.1M | 2% |
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% |
