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Mid-America Apartment Communities（MAA）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
Mid-America Apartment Communities的季度营收约是ROYAL GOLD INC的1.5倍（$553.7M vs $375.3M），Mid-America Apartment Communities同比增速更快（438.7% vs 85.3%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 0.7%）
Mid-America Apartment Communities（股票代码：MAA）是一家公开上市的房地产投资信托基金，总部位于美国田纳西州孟菲斯市，核心业务为投资美国东南部及西南部地区的公寓物业，深耕美国高增长区域住宅不动产赛道，为股东创造稳定的长期投资回报。
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。
MAA vs RGLD — 直观对比
营收规模更大
MAA
是对方的1.5倍
$375.3M
营收增速更快
MAA
高出353.4%
85.3%
两年增速更快
RGLD
近两年复合增速
0.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $553.7M | $375.3M |
| 净利润 | — | $93.6M |
| 毛利率 | — | 64.6% |
| 营业利润率 | — | 56.2% |
| 净利率 | — | 24.9% |
| 营收同比 | 438.7% | 85.3% |
| 净利润同比 | — | -12.8% |
| 每股收益（稀释后） | $4.34 | $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MAARGLD
| Q1 26 | $553.7M | — | ||
| Q4 25 | $555.6M | $375.3M | ||
| Q3 25 | $554.4M | $252.1M | ||
| Q2 25 | $549.9M | $209.6M | ||
| Q1 25 | $549.3M | $193.4M | ||
| Q4 24 | $549.8M | $202.6M | ||
| Q3 24 | $551.1M | $193.8M | ||
| Q2 24 | $546.4M | $174.1M |
净利润MAARGLD
| Q1 26 | — | — | ||
| Q4 25 | $57.6M | $93.6M | ||
| Q3 25 | $99.5M | $126.8M | ||
| Q2 25 | $108.1M | $132.3M | ||
| Q1 25 | $181.7M | $113.5M | ||
| Q4 24 | $166.6M | $107.4M | ||
| Q3 24 | $115.2M | $96.2M | ||
| Q2 24 | $102.0M | $81.2M |
毛利率MAARGLD
| Q1 26 | — | — | ||
| 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% |
营业利润率MAARGLD
| Q1 26 | — | — | ||
| Q4 25 | 10.4% | 56.2% | ||
| Q3 25 | 18.7% | 64.4% | ||
| Q2 25 | 20.2% | 67.7% | ||
| Q1 25 | 34.0% | 63.6% | ||
| Q4 24 | 31.3% | 65.9% | ||
| Q3 24 | 21.5% | 61.3% | ||
| Q2 24 | 19.3% | 58.6% |
净利率MAARGLD
| Q1 26 | — | — | ||
| Q4 25 | 10.4% | 24.9% | ||
| Q3 25 | 18.0% | 50.3% | ||
| Q2 25 | 19.7% | 63.1% | ||
| Q1 25 | 33.1% | 58.7% | ||
| Q4 24 | 30.3% | 53.0% | ||
| Q3 24 | 20.9% | 49.7% | ||
| Q2 24 | 18.7% | 46.6% |
每股收益（稀释后）MAARGLD
| Q1 26 | $4.34 | — | ||
| Q4 25 | $0.48 | $1.04 | ||
| Q3 25 | $0.84 | $1.92 | ||
| Q2 25 | $0.92 | $2.01 | ||
| Q1 25 | $1.54 | $1.72 | ||
| Q4 24 | $1.43 | $1.63 | ||
| Q3 24 | $0.98 | $1.46 | ||
| Q2 24 | $0.86 | $1.23 |
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 | — | $233.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $7.2B |
| 总资产 | — | $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MAARGLD
| Q1 26 | — | — | ||
| Q4 25 | $60.3M | $233.7M | ||
| Q3 25 | $32.2M | $172.8M | ||
| Q2 25 | $54.5M | $248.2M | ||
| Q1 25 | $55.8M | $240.8M | ||
| Q4 24 | $43.0M | $195.5M | ||
| Q3 24 | $50.2M | $127.9M | ||
| Q2 24 | $62.8M | $74.2M |
总债务MAARGLD
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $50.0M |
股东权益MAARGLD
| Q1 26 | — | — | ||
| Q4 25 | $5.7B | $7.2B | ||
| Q3 25 | $5.8B | $3.4B | ||
| Q2 25 | $5.9B | $3.3B | ||
| Q1 25 | $5.9B | $3.2B | ||
| Q4 24 | $5.9B | $3.1B | ||
| Q3 24 | $5.9B | $3.0B | ||
| Q2 24 | $6.0B | $3.0B |
总资产MAARGLD
| Q1 26 | — | — | ||
| Q4 25 | $12.0B | $9.5B | ||
| Q3 25 | $11.9B | $4.5B | ||
| Q2 25 | $11.8B | $3.6B | ||
| Q1 25 | $11.8B | $3.5B | ||
| Q4 24 | $11.8B | $3.4B | ||
| Q3 24 | $11.8B | $3.3B | ||
| Q2 24 | $11.6B | $3.3B |
负债/权益比MAARGLD
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.02× |
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 | — | $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 | — | 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MAARGLD
| Q1 26 | — | — | ||
| Q4 25 | $261.7M | $241.7M | ||
| Q3 25 | $266.4M | $174.0M | ||
| Q2 25 | $353.4M | $152.8M | ||
| Q1 25 | $196.6M | $136.4M | ||
| Q4 24 | $239.1M | $141.1M | ||
| Q3 24 | $309.5M | $136.7M | ||
| Q2 24 | $349.4M | $113.5M |
自由现金流MAARGLD
| Q1 26 | — | — | ||
| Q4 25 | $158.6M | — | ||
| Q3 25 | $170.8M | — | ||
| Q2 25 | $264.5M | — | ||
| Q1 25 | $124.0M | — | ||
| Q4 24 | $152.6M | — | ||
| Q3 24 | $215.5M | — | ||
| Q2 24 | $259.7M | — |
自由现金流率MAARGLD
| Q1 26 | — | — | ||
| Q4 25 | 28.5% | — | ||
| Q3 25 | 30.8% | — | ||
| Q2 25 | 48.1% | — | ||
| Q1 25 | 22.6% | — | ||
| Q4 24 | 27.8% | — | ||
| Q3 24 | 39.1% | — | ||
| Q2 24 | 47.5% | — |
资本支出强度MAARGLD
| Q1 26 | — | — | ||
| Q4 25 | 18.6% | — | ||
| Q3 25 | 17.2% | — | ||
| Q2 25 | 16.2% | — | ||
| Q1 25 | 13.2% | — | ||
| Q4 24 | 15.7% | — | ||
| Q3 24 | 17.1% | — | ||
| Q2 24 | 16.4% | — |
现金转化率MAARGLD
| Q1 26 | — | — | ||
| Q4 25 | 4.55× | 2.58× | ||
| Q3 25 | 2.68× | 1.37× | ||
| Q2 25 | 3.27× | 1.15× | ||
| Q1 25 | 1.08× | 1.20× | ||
| Q4 24 | 1.43× | 1.31× | ||
| Q3 24 | 2.69× | 1.42× | ||
| Q2 24 | 3.43× | 1.40× |
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
MAA
| Same Store Communities | $517.0M | 93% |
| Non-Same Store Communities | $22.1M | 4% |
| Lease-up/Development Communities | $7.7M | 1% |
| Commercial Property/Land | $7.0M | 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% |
