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MALIBU BOATS, INC.（MBUU）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MALIBU BOATS, INC.的2.0倍（$375.3M vs $188.6M），ROYAL GOLD INC净利率更高（24.9% vs -1.3%，领先26.2%），ROYAL GOLD INC同比增速更快（85.3% vs -5.8%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs -3.7%）
马里布游艇是美国休闲游艇制造商，1982年创立于加利福尼亚州默塞德，现总部位于田纳西州洛登，在澳大利亚新南威尔士州也设有生产基地。它是全球最大的水上运动拖船制造商，产品可供休闲使用，也应用于滑水、尾波滑板等各类赛事活动。
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。
MBUU vs RGLD — 直观对比
营收规模更大
RGLD
是对方的2.0倍
$188.6M
营收增速更快
RGLD
高出91.1%
-5.8%
净利率更高
RGLD
高出26.2%
-1.3%
两年增速更快
RGLD
近两年复合增速
-3.7%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $188.6M | $375.3M |
| 净利润 | $-2.5M | $93.6M |
| 毛利率 | 13.3% | 64.6% |
| 营业利润率 | -1.9% | 56.2% |
| 净利率 | -1.3% | 24.9% |
| 营收同比 | -5.8% | 85.3% |
| 净利润同比 | -204.2% | -12.8% |
| 每股收益（稀释后） | $-0.13 | $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MBUURGLD
| Q4 25 | $188.6M | $375.3M | ||
| Q3 25 | $194.7M | $252.1M | ||
| Q2 25 | $207.0M | $209.6M | ||
| Q1 25 | $228.7M | $193.4M | ||
| Q4 24 | $200.3M | $202.6M | ||
| Q3 24 | $171.6M | $193.8M | ||
| Q2 24 | $158.7M | $174.1M | ||
| Q1 24 | $203.4M | $148.9M |
净利润MBUURGLD
| Q4 25 | $-2.5M | $93.6M | ||
| Q3 25 | $-702.0K | $126.8M | ||
| Q2 25 | $4.7M | $132.3M | ||
| Q1 25 | $12.9M | $113.5M | ||
| Q4 24 | $2.4M | $107.4M | ||
| Q3 24 | $-5.0M | $96.2M | ||
| Q2 24 | $-19.2M | $81.2M | ||
| Q1 24 | $-66.8M | $47.2M |
毛利率MBUURGLD
| Q4 25 | 13.3% | 64.6% | ||
| Q3 25 | 14.3% | 73.6% | ||
| Q2 25 | 15.8% | 72.6% | ||
| Q1 25 | 20.0% | 69.4% | ||
| Q4 24 | 18.7% | 70.3% | ||
| Q3 24 | 16.4% | 66.6% | ||
| Q2 24 | 7.9% | 64.7% | ||
| Q1 24 | 19.8% | 58.4% |
营业利润率MBUURGLD
| Q4 25 | -1.9% | 56.2% | ||
| Q3 25 | -0.4% | 64.4% | ||
| Q2 25 | 3.3% | 67.7% | ||
| Q1 25 | 7.6% | 63.6% | ||
| Q4 24 | 1.6% | 65.9% | ||
| Q3 24 | -3.3% | 61.3% | ||
| Q2 24 | -15.4% | 58.6% | ||
| Q1 24 | -36.8% | 50.7% |
净利率MBUURGLD
| Q4 25 | -1.3% | 24.9% | ||
| Q3 25 | -0.4% | 50.3% | ||
| Q2 25 | 2.3% | 63.1% | ||
| Q1 25 | 5.6% | 58.7% | ||
| Q4 24 | 1.2% | 53.0% | ||
| Q3 24 | -2.9% | 49.7% | ||
| Q2 24 | -12.1% | 46.6% | ||
| Q1 24 | -32.9% | 31.7% |
每股收益（稀释后）MBUURGLD
| Q4 25 | $-0.13 | $1.04 | ||
| Q3 25 | $-0.04 | $1.92 | ||
| Q2 25 | $0.23 | $2.01 | ||
| Q1 25 | $0.66 | $1.72 | ||
| Q4 24 | $0.12 | $1.63 | ||
| Q3 24 | $-0.25 | $1.46 | ||
| Q2 24 | $-0.93 | $1.23 | ||
| Q1 24 | $-3.28 | $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 | $28.2M | $233.7M |
| 总债务越低越好 | $20.0M | — |
| 股东权益账面价值 | $495.0M | $7.2B |
| 总资产 | $715.7M | $9.5B |
| 负债/权益比越低杠杆越低 | 0.04× | — |
8季度趋势，按日历期对齐
现金及短期投资MBUURGLD
| Q4 25 | $28.2M | $233.7M | ||
| Q3 25 | $44.1M | $172.8M | ||
| Q2 25 | $37.0M | $248.2M | ||
| Q1 25 | $38.7M | $240.8M | ||
| Q4 24 | $35.1M | $195.5M | ||
| Q3 24 | $27.7M | $127.9M | ||
| Q2 24 | $26.9M | $74.2M | ||
| Q1 24 | $47.1M | $137.9M |
总债务MBUURGLD
| Q4 25 | $20.0M | — | ||
| Q3 25 | $23.0M | — | ||
| Q2 25 | $18.0M | — | ||
| Q1 25 | $28.0M | — | ||
| Q4 24 | $23.0M | — | ||
| Q3 24 | $28.0M | $0 | ||
| Q2 24 | $0 | $50.0M | ||
| Q1 24 | $15.0M | — |
股东权益MBUURGLD
| Q4 25 | $495.0M | $7.2B | ||
| Q3 25 | $516.4M | $3.4B | ||
| Q2 25 | $515.5M | $3.3B | ||
| Q1 25 | $513.0M | $3.2B | ||
| Q4 24 | $509.8M | $3.1B | ||
| Q3 24 | $517.7M | $3.0B | ||
| Q2 24 | $530.0M | $3.0B | ||
| Q1 24 | $557.2M | $2.9B |
总资产MBUURGLD
| Q4 25 | $715.7M | $9.5B | ||
| Q3 25 | $755.6M | $4.5B | ||
| Q2 25 | $734.6M | $3.6B | ||
| Q1 25 | $758.8M | $3.5B | ||
| Q4 24 | $738.7M | $3.4B | ||
| Q3 24 | $759.1M | $3.3B | ||
| Q2 24 | $739.6M | $3.3B | ||
| Q1 24 | $797.6M | $3.3B |
负债/权益比MBUURGLD
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.03× | — | ||
| Q1 25 | 0.05× | — | ||
| Q4 24 | 0.05× | — | ||
| Q3 24 | 0.05× | 0.00× | ||
| Q2 24 | 0.00× | 0.02× | ||
| Q1 24 | 0.03× | — |
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 | $12.6M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $8.2M | — |
| 自由现金流率自由现金流/营收 | 4.4% | — |
| 资本支出强度资本支出/营收 | 2.3% | — |
| 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 | $33.3M | — |
8季度趋势，按日历期对齐
经营现金流MBUURGLD
| Q4 25 | $12.6M | $241.7M | ||
| Q3 25 | $6.5M | $174.0M | ||
| Q2 25 | $21.0M | $152.8M | ||
| Q1 25 | $15.5M | $136.4M | ||
| Q4 24 | $28.4M | $141.1M | ||
| Q3 24 | $-8.4M | $136.7M | ||
| Q2 24 | $16.3M | $113.5M | ||
| Q1 24 | $23.5M | $138.3M |
自由现金流MBUURGLD
| Q4 25 | $8.2M | — | ||
| Q3 25 | $2.2M | — | ||
| Q2 25 | $14.1M | — | ||
| Q1 25 | $8.8M | — | ||
| Q4 24 | $22.8M | — | ||
| Q3 24 | $-17.0M | — | ||
| Q2 24 | $4.5M | — | ||
| Q1 24 | $11.5M | — |
自由现金流率MBUURGLD
| Q4 25 | 4.4% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 6.8% | — | ||
| Q1 25 | 3.8% | — | ||
| Q4 24 | 11.4% | — | ||
| Q3 24 | -9.9% | — | ||
| Q2 24 | 2.8% | — | ||
| Q1 24 | 5.7% | — |
资本支出强度MBUURGLD
| Q4 25 | 2.3% | — | ||
| Q3 25 | 2.2% | — | ||
| Q2 25 | 3.4% | — | ||
| Q1 25 | 2.9% | — | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 5.0% | — | ||
| Q2 24 | 7.5% | — | ||
| Q1 24 | 5.9% | — |
现金转化率MBUURGLD
| Q4 25 | — | 2.58× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | 4.50× | 1.15× | ||
| Q1 25 | 1.20× | 1.20× | ||
| Q4 24 | 12.02× | 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
MBUU
| Boatand Trailer Sales | $68.1M | 36% |
| Saltwater Fishing | $65.3M | 35% |
| Cobalt | $52.6M | 28% |
| Part And Other Sales | $2.6M | 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% |
