vs
Kinetik Holdings Inc.（KNTK）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
Kinetik Holdings Inc.的季度营收约是ROYAL GOLD INC的1.1倍（$430.4M vs $375.3M），Kinetik Holdings Inc.净利率更高（96.8% vs 24.9%，领先71.9%），ROYAL GOLD INC同比增速更快（85.3% vs 11.6%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 12.3%）
Kinetik Holdings Inc.是一家聚焦二叠纪盆地的中游能源基础设施供应商，为美国南部核心油气产区的上游作业方提供天然气收集、处理、运输、存储，以及原油、采出水处置等一体化服务。
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。
KNTK vs RGLD — 直观对比
营收规模更大
KNTK
是对方的1.1倍
$375.3M
营收增速更快
RGLD
高出73.7%
11.6%
净利率更高
KNTK
高出71.9%
24.9%
两年增速更快
RGLD
近两年复合增速
12.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $430.4M | $375.3M |
| 净利润 | $416.7M | $93.6M |
| 毛利率 | — | 64.6% |
| 营业利润率 | 11.2% | 56.2% |
| 净利率 | 96.8% | 24.9% |
| 营收同比 | 11.6% | 85.3% |
| 净利润同比 | 2468.4% | -12.8% |
| 每股收益（稀释后） | $2.22 | $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KNTKRGLD
| Q4 25 | $430.4M | $375.3M | ||
| Q3 25 | $464.0M | $252.1M | ||
| Q2 25 | $426.7M | $209.6M | ||
| Q1 25 | $443.3M | $193.4M | ||
| Q4 24 | $385.7M | $202.6M | ||
| Q3 24 | $396.4M | $193.8M | ||
| Q2 24 | $359.5M | $174.1M | ||
| Q1 24 | $341.4M | $148.9M |
净利润KNTKRGLD
| Q4 25 | $416.7M | $93.6M | ||
| Q3 25 | $5.3M | $126.8M | ||
| Q2 25 | $23.6M | $132.3M | ||
| Q1 25 | $19.3M | $113.5M | ||
| Q4 24 | $16.2M | $107.4M | ||
| Q3 24 | $25.8M | $96.2M | ||
| Q2 24 | $37.2M | $81.2M | ||
| Q1 24 | $233.6M | $47.2M |
毛利率KNTKRGLD
| Q4 25 | — | 64.6% | ||
| Q3 25 | — | 73.6% | ||
| Q2 25 | — | 72.6% | ||
| Q1 25 | — | 69.4% | ||
| Q4 24 | — | 70.3% | ||
| Q3 24 | — | 66.6% | ||
| Q2 24 | — | 64.7% | ||
| Q1 24 | — | 58.4% |
营业利润率KNTKRGLD
| Q4 25 | 11.2% | 56.2% | ||
| Q3 25 | 4.3% | 64.4% | ||
| Q2 25 | 18.2% | 67.7% | ||
| Q1 25 | 4.3% | 63.6% | ||
| Q4 24 | 6.1% | 65.9% | ||
| Q3 24 | 18.4% | 61.3% | ||
| Q2 24 | 15.7% | 58.6% | ||
| Q1 24 | 7.6% | 50.7% |
净利率KNTKRGLD
| Q4 25 | 96.8% | 24.9% | ||
| Q3 25 | 1.1% | 50.3% | ||
| Q2 25 | 5.5% | 63.1% | ||
| Q1 25 | 4.3% | 58.7% | ||
| Q4 24 | 4.2% | 53.0% | ||
| Q3 24 | 6.5% | 49.7% | ||
| Q2 24 | 10.3% | 46.6% | ||
| Q1 24 | 68.4% | 31.7% |
每股收益（稀释后）KNTKRGLD
| Q4 25 | $2.22 | $1.04 | ||
| Q3 25 | $0.03 | $1.92 | ||
| Q2 25 | $0.33 | $2.01 | ||
| Q1 25 | $0.05 | $1.72 | ||
| Q4 24 | $0.01 | $1.63 | ||
| Q3 24 | $0.35 | $1.46 | ||
| Q2 24 | $0.54 | $1.23 | ||
| Q1 24 | $0.12 | $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 | $4.0M | $233.7M |
| 总债务越低越好 | $3.6B | — |
| 股东权益账面价值 | $-565.4M | $7.2B |
| 总资产 | $7.1B | $9.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资KNTKRGLD
| Q4 25 | $4.0M | $233.7M | ||
| Q3 25 | $7.7M | $172.8M | ||
| Q2 25 | $10.7M | $248.2M | ||
| Q1 25 | $8.8M | $240.8M | ||
| Q4 24 | $3.6M | $195.5M | ||
| Q3 24 | $20.4M | $127.9M | ||
| Q2 24 | $12.5M | $74.2M | ||
| Q1 24 | $9.8M | $137.9M |
总债务KNTKRGLD
| Q4 25 | $3.6B | — | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $3.7B | — | ||
| Q1 25 | $3.6B | — | ||
| Q4 24 | $3.4B | — | ||
| Q3 24 | $3.3B | $0 | ||
| Q2 24 | $3.3B | $50.0M | ||
| Q1 24 | $3.5B | — |
股东权益KNTKRGLD
| Q4 25 | $-565.4M | $7.2B | ||
| Q3 25 | $-1.8B | $3.4B | ||
| Q2 25 | $-1.6B | $3.3B | ||
| Q1 25 | $-2.5B | $3.2B | ||
| Q4 24 | $-3.0B | $3.1B | ||
| Q3 24 | $-1.7B | $3.0B | ||
| Q2 24 | $-1.2B | $3.0B | ||
| Q1 24 | $-973.4M | $2.9B |
总资产KNTKRGLD
| Q4 25 | $7.1B | $9.5B | ||
| Q3 25 | $7.2B | $4.5B | ||
| Q2 25 | $7.2B | $3.6B | ||
| Q1 25 | $7.0B | $3.5B | ||
| Q4 24 | $6.8B | $3.4B | ||
| Q3 24 | $6.9B | $3.3B | ||
| Q2 24 | $6.9B | $3.3B | ||
| Q1 24 | $6.4B | $3.3B |
负债/权益比KNTKRGLD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 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 | $110.1M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $-24.0M | — |
| 自由现金流率自由现金流/营收 | -5.6% | — |
| 资本支出强度资本支出/营收 | 31.2% | — |
| 现金转化率经营现金流/净利润 | 0.26× | 2.58× |
| 过去12个月自由现金流最近4个季度 | $111.6M | — |
8季度趋势，按日历期对齐
经营现金流KNTKRGLD
| Q4 25 | $110.1M | $241.7M | ||
| Q3 25 | $188.1M | $174.0M | ||
| Q2 25 | $129.1M | $152.8M | ||
| Q1 25 | $176.8M | $136.4M | ||
| Q4 24 | $144.0M | $141.1M | ||
| Q3 24 | $214.1M | $136.7M | ||
| Q2 24 | $125.5M | $113.5M | ||
| Q1 24 | $153.7M | $138.3M |
自由现金流KNTKRGLD
| Q4 25 | $-24.0M | — | ||
| Q3 25 | $31.6M | — | ||
| Q2 25 | $1.8M | — | ||
| Q1 25 | $102.3M | — | ||
| Q4 24 | $36.3M | — | ||
| Q3 24 | $155.7M | — | ||
| Q2 24 | $86.1M | — | ||
| Q1 24 | $95.7M | — |
自由现金流率KNTKRGLD
| Q4 25 | -5.6% | — | ||
| Q3 25 | 6.8% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 23.1% | — | ||
| Q4 24 | 9.4% | — | ||
| Q3 24 | 39.3% | — | ||
| Q2 24 | 24.0% | — | ||
| Q1 24 | 28.0% | — |
资本支出强度KNTKRGLD
| Q4 25 | 31.2% | — | ||
| Q3 25 | 33.7% | — | ||
| Q2 25 | 29.8% | — | ||
| Q1 25 | 16.8% | — | ||
| Q4 24 | 27.9% | — | ||
| Q3 24 | 14.7% | — | ||
| Q2 24 | 11.0% | — | ||
| Q1 24 | 17.0% | — |
现金转化率KNTKRGLD
| Q4 25 | 0.26× | 2.58× | ||
| Q3 25 | 35.73× | 1.37× | ||
| Q2 25 | 5.46× | 1.15× | ||
| Q1 25 | 9.18× | 1.20× | ||
| Q4 24 | 8.88× | 1.31× | ||
| Q3 24 | 8.31× | 1.42× | ||
| Q2 24 | 3.37× | 1.40× | ||
| Q1 24 | 0.66× | 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
KNTK
| Natural Gas NG Ls And Condensate Sales | $325.5M | 76% |
| Gathering And Processing Services | $101.6M | 24% |
| Other | $3.3M | 1% |
| Barilla Draw | $2.3M | 1% |
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% |
