vs
MADRIGAL PHARMACEUTICALS, INC.（MDGL）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MADRIGAL PHARMACEUTICALS, INC.的1.2倍（$375.3M vs $321.1M），ROYAL GOLD INC净利率更高（24.9% vs -18.2%，领先43.2%），MADRIGAL PHARMACEUTICALS, INC.同比增速更快（210.8% vs 85.3%）
本公司是一家美国生物制药企业，成立于2002年，专注于研发新型合成胆汁酸类似物，可用于治疗原发性胆汁性胆管炎、非酒精性脂肪肝、肝硬化等慢性肝病，以及胆汁酸性腹泻等肠道疾病。
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。
MDGL vs RGLD — 直观对比
营收规模更大
RGLD
是对方的1.2倍
$321.1M
营收增速更快
MDGL
高出125.5%
85.3%
净利率更高
RGLD
高出43.2%
-18.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $321.1M | $375.3M |
| 净利润 | $-58.6M | $93.6M |
| 毛利率 | — | 64.6% |
| 营业利润率 | -18.6% | 56.2% |
| 净利率 | -18.2% | 24.9% |
| 营收同比 | 210.8% | 85.3% |
| 净利润同比 | 1.4% | -12.8% |
| 每股收益（稀释后） | $-2.55 | $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MDGLRGLD
| Q4 25 | $321.1M | $375.3M | ||
| Q3 25 | $287.3M | $252.1M | ||
| Q2 25 | $212.8M | $209.6M | ||
| Q1 25 | $137.3M | $193.4M | ||
| Q4 24 | $103.3M | $202.6M | ||
| Q3 24 | $62.2M | $193.8M | ||
| Q2 24 | — | $174.1M | ||
| Q1 24 | $0 | $148.9M |
净利润MDGLRGLD
| Q4 25 | $-58.6M | $93.6M | ||
| Q3 25 | $-114.2M | $126.8M | ||
| Q2 25 | $-42.3M | $132.3M | ||
| Q1 25 | $-73.2M | $113.5M | ||
| Q4 24 | $-59.4M | $107.4M | ||
| Q3 24 | $-107.0M | $96.2M | ||
| Q2 24 | — | $81.2M | ||
| Q1 24 | $-147.5M | $47.2M |
毛利率MDGLRGLD
| Q4 25 | — | 64.6% | ||
| Q3 25 | — | 73.6% | ||
| Q2 25 | — | 72.6% | ||
| Q1 25 | 96.7% | 69.4% | ||
| Q4 24 | — | 70.3% | ||
| Q3 24 | — | 66.6% | ||
| Q2 24 | — | 64.7% | ||
| Q1 24 | — | 58.4% |
营业利润率MDGLRGLD
| Q4 25 | -18.6% | 56.2% | ||
| Q3 25 | -39.7% | 64.4% | ||
| Q2 25 | -22.2% | 67.7% | ||
| Q1 25 | -57.8% | 63.6% | ||
| Q4 24 | -64.8% | 65.9% | ||
| Q3 24 | -187.1% | 61.3% | ||
| Q2 24 | — | 58.6% | ||
| Q1 24 | — | 50.7% |
净利率MDGLRGLD
| Q4 25 | -18.2% | 24.9% | ||
| Q3 25 | -39.8% | 50.3% | ||
| Q2 25 | -19.9% | 63.1% | ||
| Q1 25 | -53.4% | 58.7% | ||
| Q4 24 | -57.5% | 53.0% | ||
| Q3 24 | -172.0% | 49.7% | ||
| Q2 24 | — | 46.6% | ||
| Q1 24 | — | 31.7% |
每股收益（稀释后）MDGLRGLD
| Q4 25 | $-2.55 | $1.04 | ||
| Q3 25 | $-5.08 | $1.92 | ||
| Q2 25 | $-1.90 | $2.01 | ||
| Q1 25 | $-3.32 | $1.72 | ||
| Q4 24 | $-2.50 | $1.63 | ||
| Q3 24 | $-4.92 | $1.46 | ||
| Q2 24 | — | $1.23 | ||
| Q1 24 | $-7.38 | $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 | $198.7M | $233.7M |
| 总债务越低越好 | $339.9M | — |
| 股东权益账面价值 | $602.7M | $7.2B |
| 总资产 | $1.3B | $9.5B |
| 负债/权益比越低杠杆越低 | 0.56× | — |
8季度趋势，按日历期对齐
现金及短期投资MDGLRGLD
| Q4 25 | $198.7M | $233.7M | ||
| Q3 25 | $295.7M | $172.8M | ||
| Q2 25 | $186.2M | $248.2M | ||
| Q1 25 | $183.6M | $240.8M | ||
| Q4 24 | $100.0M | $195.5M | ||
| Q3 24 | $232.7M | $127.9M | ||
| Q2 24 | — | $74.2M | ||
| Q1 24 | $622.5M | $137.9M |
总债务MDGLRGLD
| Q4 25 | $339.9M | — | ||
| Q3 25 | $339.8M | — | ||
| Q2 25 | $118.4M | — | ||
| Q1 25 | $118.0M | — | ||
| Q4 24 | $117.6M | — | ||
| Q3 24 | $117.1M | $0 | ||
| Q2 24 | — | $50.0M | ||
| Q1 24 | $116.1M | — |
股东权益MDGLRGLD
| Q4 25 | $602.7M | $7.2B | ||
| Q3 25 | $625.7M | $3.4B | ||
| Q2 25 | $696.0M | $3.3B | ||
| Q1 25 | $710.6M | $3.2B | ||
| Q4 24 | $754.4M | $3.1B | ||
| Q3 24 | $777.2M | $3.0B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | $850.8M | $2.9B |
总资产MDGLRGLD
| Q4 25 | $1.3B | $9.5B | ||
| Q3 25 | $1.4B | $4.5B | ||
| Q2 25 | $1.0B | $3.6B | ||
| Q1 25 | $996.6M | $3.5B | ||
| Q4 24 | $1.0B | $3.4B | ||
| Q3 24 | $1.1B | $3.3B | ||
| Q2 24 | — | $3.3B | ||
| Q1 24 | $1.1B | $3.3B |
负债/权益比MDGLRGLD
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.54× | — | ||
| Q2 25 | 0.17× | — | ||
| Q1 25 | 0.17× | — | ||
| Q4 24 | 0.16× | — | ||
| Q3 24 | 0.15× | 0.00× | ||
| Q2 24 | — | 0.02× | ||
| Q1 24 | 0.14× | — |
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 | $-133.5M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $-133.8M | — |
| 自由现金流率自由现金流/营收 | -41.7% | — |
| 资本支出强度资本支出/营收 | 0.1% | — |
| 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MDGLRGLD
| Q4 25 | $-133.5M | $241.7M | ||
| Q3 25 | $79.8M | $174.0M | ||
| Q2 25 | $-47.1M | $152.8M | ||
| Q1 25 | $-88.9M | $136.4M | ||
| Q4 24 | $-104.5M | $141.1M | ||
| Q3 24 | $-67.0M | $136.7M | ||
| Q2 24 | — | $113.5M | ||
| Q1 24 | $-149.2M | $138.3M |
自由现金流MDGLRGLD
| Q4 25 | $-133.8M | — | ||
| Q3 25 | $79.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-104.7M | — | ||
| Q3 24 | $-67.8M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $-149.5M | — |
自由现金流率MDGLRGLD
| Q4 25 | -41.7% | — | ||
| Q3 25 | 27.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -101.3% | — | ||
| Q3 24 | -109.0% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度MDGLRGLD
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 1.3% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率MDGLRGLD
| Q4 25 | — | 2.58× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | — | 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
MDGL
| Rebates Customer Fees Credits Co Pay Assistance And Other | $208.5M | 65% |
| Other | $76.0M | 24% |
| Chargebacks Discounts For Prompt Pay And Other Allowances | $36.6M | 11% |
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% |
