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NATIONAL FUEL GAS CO（NFG）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
NATIONAL FUEL GAS CO的季度营收约是ROYAL GOLD INC的1.1倍（$425.9M vs $375.3M），NATIONAL FUEL GAS CO净利率更高（35.7% vs 24.9%，领先10.8%），ROYAL GOLD INC同比增速更快（85.3% vs 1.7%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 12.1%）
该多元化能源企业成立于1902年，总部位于美国纽约州威廉斯维尔，总资产达62亿美元，下设勘探与生产、管道与存储、燃气集输、公用事业、能源营销五大运营板块，业务覆盖能源产业链上下游多个核心环节。
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。
NFG vs RGLD — 直观对比
营收规模更大
NFG
是对方的1.1倍
$375.3M
营收增速更快
RGLD
高出83.6%
1.7%
净利率更高
NFG
高出10.8%
24.9%
两年增速更快
RGLD
近两年复合增速
12.1%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $425.9M | $375.3M |
| 净利润 | $152.0M | $93.6M |
| 毛利率 | — | 64.6% |
| 营业利润率 | 81.5% | 56.2% |
| 净利率 | 35.7% | 24.9% |
| 营收同比 | 1.7% | 85.3% |
| 净利润同比 | — | -12.8% |
| 每股收益（稀释后） | $1.59 | $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NFGRGLD
| Q1 26 | $425.9M | — | ||
| Q4 25 | $637.9M | $375.3M | ||
| Q3 25 | $443.1M | $252.1M | ||
| Q2 25 | $527.4M | $209.6M | ||
| Q1 25 | $734.8M | $193.4M | ||
| Q4 24 | $513.8M | $202.6M | ||
| Q3 24 | $310.0M | $193.8M | ||
| Q2 24 | $338.6M | $174.1M |
净利润NFGRGLD
| Q1 26 | $152.0M | — | ||
| Q4 25 | $181.6M | $93.6M | ||
| Q3 25 | $107.3M | $126.8M | ||
| Q2 25 | $149.8M | $132.3M | ||
| Q1 25 | $216.4M | $113.5M | ||
| Q4 24 | $45.0M | $107.4M | ||
| Q3 24 | $-167.6M | $96.2M | ||
| Q2 24 | $-54.2M | $81.2M |
毛利率NFGRGLD
| Q1 26 | — | — | ||
| Q4 25 | 86.6% | 64.6% | ||
| Q3 25 | — | 73.6% | ||
| Q2 25 | 94.7% | 72.6% | ||
| Q1 25 | 81.6% | 69.4% | ||
| Q4 24 | 87.3% | 70.3% | ||
| Q3 24 | — | 66.6% | ||
| Q2 24 | 98.5% | 64.7% |
营业利润率NFGRGLD
| Q1 26 | 81.5% | — | ||
| Q4 25 | 43.3% | 56.2% | ||
| Q3 25 | 40.6% | 64.4% | ||
| Q2 25 | 43.7% | 67.7% | ||
| Q1 25 | 43.2% | 63.6% | ||
| Q4 24 | 16.8% | 65.9% | ||
| Q3 24 | -63.4% | 61.3% | ||
| Q2 24 | -15.2% | 58.6% |
净利率NFGRGLD
| Q1 26 | 35.7% | — | ||
| Q4 25 | 28.5% | 24.9% | ||
| Q3 25 | 24.2% | 50.3% | ||
| Q2 25 | 28.4% | 63.1% | ||
| Q1 25 | 29.4% | 58.7% | ||
| Q4 24 | 8.8% | 53.0% | ||
| Q3 24 | -54.1% | 49.7% | ||
| Q2 24 | -16.0% | 46.6% |
每股收益（稀释后）NFGRGLD
| Q1 26 | $1.59 | — | ||
| Q4 25 | $1.98 | $1.04 | ||
| Q3 25 | $1.18 | $1.92 | ||
| Q2 25 | $1.64 | $2.01 | ||
| Q1 25 | $2.37 | $1.72 | ||
| Q4 24 | $0.49 | $1.63 | ||
| Q3 24 | $-1.81 | $1.46 | ||
| Q2 24 | $-0.59 | $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 | $300.0M | — |
| 股东权益账面价值 | — | $7.2B |
| 总资产 | $9.1B | $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NFGRGLD
| Q1 26 | — | — | ||
| Q4 25 | $271.4M | $233.7M | ||
| Q3 25 | $43.2M | $172.8M | ||
| Q2 25 | $39.3M | $248.2M | ||
| Q1 25 | $40.0M | $240.8M | ||
| Q4 24 | $48.7M | $195.5M | ||
| Q3 24 | $38.2M | $127.9M | ||
| Q2 24 | $81.4M | $74.2M |
总债务NFGRGLD
| Q1 26 | $300.0M | — | ||
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.7B | — | ||
| Q2 25 | $2.7B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.7B | — | ||
| Q3 24 | $2.7B | $0 | ||
| Q2 24 | $2.7B | $50.0M |
股东权益NFGRGLD
| Q1 26 | — | — | ||
| Q4 25 | $3.6B | $7.2B | ||
| Q3 25 | $3.1B | $3.4B | ||
| Q2 25 | $3.0B | $3.3B | ||
| Q1 25 | $2.8B | $3.2B | ||
| Q4 24 | $-76.2M | $3.1B | ||
| Q3 24 | $-15.5M | $3.0B | ||
| Q2 24 | $5.0M | $3.0B |
总资产NFGRGLD
| Q1 26 | $9.1B | — | ||
| Q4 25 | $9.2B | $9.5B | ||
| Q3 25 | $8.7B | $4.5B | ||
| Q2 25 | $8.4B | $3.6B | ||
| Q1 25 | $8.5B | $3.5B | ||
| Q4 24 | $8.3B | $3.4B | ||
| Q3 24 | $8.3B | $3.3B | ||
| Q2 24 | $8.5B | $3.3B |
负债/权益比NFGRGLD
| Q1 26 | — | — | ||
| Q4 25 | 0.75× | — | ||
| Q3 25 | 0.87× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | 0.99× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | 532.10× | 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 | $657.3M | $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 | 117.0% | — |
| 现金转化率经营现金流/净利润 | 4.32× | 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NFGRGLD
| Q1 26 | $657.3M | — | ||
| Q4 25 | $274.9M | $241.7M | ||
| Q3 25 | $237.8M | $174.0M | ||
| Q2 25 | $388.4M | $152.8M | ||
| Q1 25 | $253.8M | $136.4M | ||
| Q4 24 | $220.1M | $141.1M | ||
| Q3 24 | $197.9M | $136.7M | ||
| Q2 24 | $281.8M | $113.5M |
自由现金流NFGRGLD
| Q1 26 | — | — | ||
| Q4 25 | $-2.7M | — | ||
| Q3 25 | $-47.8M | — | ||
| Q2 25 | $195.3M | — | ||
| Q1 25 | $59.9M | — | ||
| Q4 24 | $-20.3M | — | ||
| Q3 24 | $-49.1M | — | ||
| Q2 24 | $79.5M | — |
自由现金流率NFGRGLD
| Q1 26 | — | — | ||
| Q4 25 | -0.4% | — | ||
| Q3 25 | -10.8% | — | ||
| Q2 25 | 37.0% | — | ||
| Q1 25 | 8.2% | — | ||
| Q4 24 | -4.0% | — | ||
| Q3 24 | -15.8% | — | ||
| Q2 24 | 23.5% | — |
资本支出强度NFGRGLD
| Q1 26 | 117.0% | — | ||
| Q4 25 | 43.5% | — | ||
| Q3 25 | 64.4% | — | ||
| Q2 25 | 36.6% | — | ||
| Q1 25 | 26.4% | — | ||
| Q4 24 | 46.8% | — | ||
| Q3 24 | 79.7% | — | ||
| Q2 24 | 59.7% | — |
现金转化率NFGRGLD
| Q1 26 | 4.32× | — | ||
| Q4 25 | 1.51× | 2.58× | ||
| Q3 25 | 2.21× | 1.37× | ||
| Q2 25 | 2.59× | 1.15× | ||
| Q1 25 | 1.17× | 1.20× | ||
| Q4 24 | 4.89× | 1.31× | ||
| Q3 24 | — | 1.42× | ||
| Q2 24 | — | 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
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
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% |
