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玛斯特锁（MBC）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
玛斯特锁的季度营收约是ROYAL GOLD INC的1.7倍（$644.6M vs $375.3M），ROYAL GOLD INC净利率更高（24.9% vs -6.5%，领先31.5%），ROYAL GOLD INC同比增速更快（85.3% vs -3.5%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 0.5%）
玛斯特锁是美国知名安防产品供应商，1921年由锁匠发明家哈里·索雷夫创立，总部位于威斯康星州奥克里克，主营挂锁、密码锁、保险箱及相关安防产品，现为富俊创新集团旗下子公司，在全球安防锁具领域拥有较高的市场认可度。
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。
MBC vs RGLD — 直观对比
营收规模更大
MBC
是对方的1.7倍
$375.3M
营收增速更快
RGLD
高出88.7%
-3.5%
净利率更高
RGLD
高出31.5%
-6.5%
两年增速更快
RGLD
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $644.6M | $375.3M |
| 净利润 | $-42.0M | $93.6M |
| 毛利率 | 26.0% | 64.6% |
| 营业利润率 | -4.2% | 56.2% |
| 净利率 | -6.5% | 24.9% |
| 营收同比 | -3.5% | 85.3% |
| 净利润同比 | -400.0% | -12.8% |
| 每股收益（稀释后） | $-0.32 | $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MBCRGLD
| Q4 25 | $644.6M | $375.3M | ||
| Q3 25 | $698.9M | $252.1M | ||
| Q2 25 | $730.9M | $209.6M | ||
| Q1 25 | $660.3M | $193.4M | ||
| Q4 24 | $667.7M | $202.6M | ||
| Q3 24 | $718.1M | $193.8M | ||
| Q2 24 | $676.5M | $174.1M | ||
| Q1 24 | $638.1M | $148.9M |
净利润MBCRGLD
| Q4 25 | $-42.0M | $93.6M | ||
| Q3 25 | $18.1M | $126.8M | ||
| Q2 25 | $37.3M | $132.3M | ||
| Q1 25 | $13.3M | $113.5M | ||
| Q4 24 | $14.0M | $107.4M | ||
| Q3 24 | $29.1M | $96.2M | ||
| Q2 24 | $45.3M | $81.2M | ||
| Q1 24 | $37.5M | $47.2M |
毛利率MBCRGLD
| Q4 25 | 26.0% | 64.6% | ||
| Q3 25 | 31.2% | 73.6% | ||
| Q2 25 | 32.8% | 72.6% | ||
| Q1 25 | 30.6% | 69.4% | ||
| Q4 24 | 30.4% | 70.3% | ||
| Q3 24 | 33.1% | 66.6% | ||
| Q2 24 | 34.1% | 64.7% | ||
| Q1 24 | 32.1% | 58.4% |
营业利润率MBCRGLD
| Q4 25 | -4.2% | 56.2% | ||
| Q3 25 | 6.0% | 64.4% | ||
| Q2 25 | 9.2% | 67.7% | ||
| Q1 25 | 5.6% | 63.6% | ||
| Q4 24 | 5.6% | 65.9% | ||
| Q3 24 | 8.0% | 61.3% | ||
| Q2 24 | 11.5% | 58.6% | ||
| Q1 24 | 9.8% | 50.7% |
净利率MBCRGLD
| Q4 25 | -6.5% | 24.9% | ||
| Q3 25 | 2.6% | 50.3% | ||
| Q2 25 | 5.1% | 63.1% | ||
| Q1 25 | 2.0% | 58.7% | ||
| Q4 24 | 2.1% | 53.0% | ||
| Q3 24 | 4.1% | 49.7% | ||
| Q2 24 | 6.7% | 46.6% | ||
| Q1 24 | 5.9% | 31.7% |
每股收益（稀释后）MBCRGLD
| Q4 25 | $-0.32 | $1.04 | ||
| Q3 25 | $0.14 | $1.92 | ||
| Q2 25 | $0.29 | $2.01 | ||
| Q1 25 | $0.10 | $1.72 | ||
| Q4 24 | $0.10 | $1.63 | ||
| Q3 24 | $0.22 | $1.46 | ||
| Q2 24 | $0.35 | $1.23 | ||
| Q1 24 | $0.29 | $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 | $183.3M | $233.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.3B | $7.2B |
| 总资产 | $3.1B | $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MBCRGLD
| Q4 25 | $183.3M | $233.7M | ||
| Q3 25 | $114.8M | $172.8M | ||
| Q2 25 | $120.1M | $248.2M | ||
| Q1 25 | $113.5M | $240.8M | ||
| Q4 24 | $120.6M | $195.5M | ||
| Q3 24 | $108.4M | $127.9M | ||
| Q2 24 | $189.4M | $74.2M | ||
| Q1 24 | $153.7M | $137.9M |
总债务MBCRGLD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.1B | $0 | ||
| Q2 24 | — | $50.0M | ||
| Q1 24 | — | — |
股东权益MBCRGLD
| Q4 25 | $1.3B | $7.2B | ||
| Q3 25 | $1.4B | $3.4B | ||
| Q2 25 | $1.4B | $3.3B | ||
| Q1 25 | $1.3B | $3.2B | ||
| Q4 24 | $1.3B | $3.1B | ||
| Q3 24 | $1.3B | $3.0B | ||
| Q2 24 | $1.3B | $3.0B | ||
| Q1 24 | $1.2B | $2.9B |
总资产MBCRGLD
| Q4 25 | $3.1B | $9.5B | ||
| Q3 25 | $3.0B | $4.5B | ||
| Q2 25 | $3.0B | $3.6B | ||
| Q1 25 | $3.0B | $3.5B | ||
| Q4 24 | $2.9B | $3.4B | ||
| Q3 24 | $3.0B | $3.3B | ||
| Q2 24 | $2.4B | $3.3B | ||
| Q1 24 | $2.4B | $3.3B |
负债/权益比MBCRGLD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.79× | — | ||
| Q3 24 | 0.83× | 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 | $86.9M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $52.5M | — |
| 自由现金流率自由现金流/营收 | 8.1% | — |
| 资本支出强度资本支出/营收 | 5.3% | — |
| 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 | $117.5M | — |
8季度趋势，按日历期对齐
经营现金流MBCRGLD
| Q4 25 | $86.9M | $241.7M | ||
| Q3 25 | $55.4M | $174.0M | ||
| Q2 25 | $84.8M | $152.8M | ||
| Q1 25 | $-31.4M | $136.4M | ||
| Q4 24 | $115.1M | $141.1M | ||
| Q3 24 | $80.8M | $136.7M | ||
| Q2 24 | $77.4M | $113.5M | ||
| Q1 24 | $18.7M | $138.3M |
自由现金流MBCRGLD
| Q4 25 | $52.5M | — | ||
| Q3 25 | $39.5M | — | ||
| Q2 25 | $66.7M | — | ||
| Q1 25 | $-41.2M | — | ||
| Q4 24 | $68.8M | — | ||
| Q3 24 | $64.5M | — | ||
| Q2 24 | $66.1M | — | ||
| Q1 24 | $11.7M | — |
自由现金流率MBCRGLD
| Q4 25 | 8.1% | — | ||
| Q3 25 | 5.7% | — | ||
| Q2 25 | 9.1% | — | ||
| Q1 25 | -6.2% | — | ||
| Q4 24 | 10.3% | — | ||
| Q3 24 | 9.0% | — | ||
| Q2 24 | 9.8% | — | ||
| Q1 24 | 1.8% | — |
资本支出强度MBCRGLD
| Q4 25 | 5.3% | — | ||
| Q3 25 | 2.3% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 6.9% | — | ||
| Q3 24 | 2.3% | — | ||
| Q2 24 | 1.7% | — | ||
| Q1 24 | 1.1% | — |
现金转化率MBCRGLD
| Q4 25 | — | 2.58× | ||
| Q3 25 | 3.06× | 1.37× | ||
| Q2 25 | 2.27× | 1.15× | ||
| Q1 25 | -2.36× | 1.20× | ||
| Q4 24 | 8.22× | 1.31× | ||
| Q3 24 | 2.78× | 1.42× | ||
| Q2 24 | 1.71× | 1.40× | ||
| Q1 24 | 0.50× | 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
MBC
| Dealers | $345.7M | 54% |
| Retail | $220.0M | 34% |
| Builders | $78.9M | 12% |
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% |
