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MESABI TRUST（MSB）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MESABI TRUST的104.5倍（$375.3M vs $3.6M）。MESABI TRUST净利率更高（77.1% vs 24.9%，领先52.1%）。ROYAL GOLD INC同比增速更快（85.3% vs -95.5%）。过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs -24.1%）
梅萨比信托是一家总部位于美国的特许权信托机构，持有明尼苏达州梅萨比山脉铁矿开采资产的特许权权益，主要通过与铁矿石生产销售挂钩的特许权使用费获得收益，服务于全球钢铁制造市场。
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。
MSB vs RGLD — 直观对比
营收规模更大
RGLD
是对方的104.5倍
$3.6M
营收增速更快
RGLD
高出180.7%
-95.5%
净利率更高
MSB
高出52.1%
24.9%
两年增速更快
RGLD
近两年复合增速
-24.1%
损益表 — Q3 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.6M | $375.3M |
| 净利润 | $2.8M | $93.6M |
| 毛利率 | 77.1% | 64.6% |
| 营业利润率 | — | 56.2% |
| 净利率 | 77.1% | 24.9% |
| 营收同比 | -95.5% | 85.3% |
| 净利润同比 | -96.5% | -12.8% |
| 每股收益（稀释后） | — | $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MSBRGLD
| Q4 25 | $3.6M | $375.3M | ||
| Q3 25 | $5.6M | $252.1M | ||
| Q2 25 | $4.7M | $209.6M | ||
| Q1 25 | $6.9M | $193.4M | ||
| Q4 24 | $79.0M | $202.6M | ||
| Q3 24 | $6.5M | $193.8M | ||
| Q2 24 | $6.3M | $174.1M | ||
| Q1 24 | $6.2M | $148.9M |
净利润MSBRGLD
| Q4 25 | $2.8M | $93.6M | ||
| Q3 25 | $4.7M | $126.8M | ||
| Q2 25 | $3.6M | $132.3M | ||
| Q1 25 | $6.1M | $113.5M | ||
| Q4 24 | $78.3M | $107.4M | ||
| Q3 24 | $5.4M | $96.2M | ||
| Q2 24 | $3.5M | $81.2M | ||
| Q1 24 | $4.7M | $47.2M |
毛利率MSBRGLD
| Q4 25 | 77.1% | 64.6% | ||
| Q3 25 | 84.6% | 73.6% | ||
| Q2 25 | 76.7% | 72.6% | ||
| Q1 25 | 88.5% | 69.4% | ||
| Q4 24 | 99.1% | 70.3% | ||
| Q3 24 | 83.2% | 66.6% | ||
| Q2 24 | 55.7% | 64.7% | ||
| Q1 24 | 75.3% | 58.4% |
营业利润率MSBRGLD
| Q4 25 | — | 56.2% | ||
| Q3 25 | — | 64.4% | ||
| Q2 25 | — | 67.7% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | — | 65.9% | ||
| Q3 24 | — | 61.3% | ||
| Q2 24 | — | 58.6% | ||
| Q1 24 | — | 50.7% |
净利率MSBRGLD
| Q4 25 | 77.1% | 24.9% | ||
| Q3 25 | 84.6% | 50.3% | ||
| Q2 25 | 76.7% | 63.1% | ||
| Q1 25 | 88.5% | 58.7% | ||
| Q4 24 | 99.1% | 53.0% | ||
| Q3 24 | 83.2% | 49.7% | ||
| Q2 24 | 55.7% | 46.6% | ||
| Q1 24 | 75.3% | 31.7% |
每股收益（稀释后）MSBRGLD
| Q4 25 | — | $1.04 | ||
| Q3 25 | — | $1.92 | ||
| Q2 25 | — | $2.01 | ||
| Q1 25 | — | $1.72 | ||
| Q4 24 | — | $1.63 | ||
| Q3 24 | — | $1.46 | ||
| Q2 24 | — | $1.23 | ||
| Q1 24 | — | $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 | — | $233.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $21.1M | $7.2B |
| 总资产 | $26.0M | $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MSBRGLD
| Q4 25 | — | $233.7M | ||
| Q3 25 | — | $172.8M | ||
| Q2 25 | — | $248.2M | ||
| Q1 25 | — | $240.8M | ||
| Q4 24 | — | $195.5M | ||
| Q3 24 | — | $127.9M | ||
| Q2 24 | — | $74.2M | ||
| Q1 24 | — | $137.9M |
总债务MSBRGLD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $50.0M | ||
| Q1 24 | — | — |
股东权益MSBRGLD
| Q4 25 | $21.1M | $7.2B | ||
| Q3 25 | $22.8M | $3.4B | ||
| Q2 25 | $19.6M | $3.3B | ||
| Q1 25 | $23.3M | $3.2B | ||
| Q4 24 | $95.3M | $3.1B | ||
| Q3 24 | $22.1M | $3.0B | ||
| Q2 24 | $20.7M | $3.0B | ||
| Q1 24 | $21.0M | $2.9B |
总资产MSBRGLD
| Q4 25 | $26.0M | $9.5B | ||
| Q3 25 | $24.8M | $4.5B | ||
| Q2 25 | $27.4M | $3.6B | ||
| Q1 25 | $101.7M | $3.5B | ||
| Q4 24 | $100.7M | $3.4B | ||
| Q3 24 | $26.2M | $3.3B | ||
| Q2 24 | $25.1M | $3.3B | ||
| Q1 24 | $26.7M | $3.3B |
负债/权益比MSBRGLD
| 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 | $3.5M | $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 | 1.27× | 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MSBRGLD
| Q4 25 | $3.5M | $241.7M | ||
| Q3 25 | $4.4M | $174.0M | ||
| Q2 25 | $2.1M | $152.8M | ||
| Q1 25 | $9.4M | $136.4M | ||
| Q4 24 | $78.2M | $141.1M | ||
| Q3 24 | $3.8M | $136.7M | ||
| Q2 24 | $2.5M | $113.5M | ||
| Q1 24 | $5.7M | $138.3M |
现金转化率MSBRGLD
| Q4 25 | 1.27× | 2.58× | ||
| Q3 25 | 0.92× | 1.37× | ||
| Q2 25 | 0.57× | 1.15× | ||
| Q1 25 | 1.55× | 1.20× | ||
| Q4 24 | 1.00× | 1.31× | ||
| Q3 24 | 0.71× | 1.42× | ||
| Q2 24 | 0.72× | 1.40× | ||
| Q1 24 | 1.21× | 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
MSB
暂无分部数据
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% |
