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NorthWestern Energy Group, Inc.（NWE）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
NorthWestern Energy Group, Inc.的季度营收约是ROYAL GOLD INC的1.1倍（$414.3M vs $375.3M），ROYAL GOLD INC净利率更高（24.9% vs 10.8%，领先14.2%），ROYAL GOLD INC同比增速更快（85.3% vs 10.9%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs -6.6%）
西北能源集团（NorthWestern Energy Group, Inc.）是一家总部位于苏福尔斯的公用事业企业，业务覆盖南达科他州、内布拉斯加州和蒙大拿州。截至2019年，公司服务客户约71.8万户，集团总部设在苏福尔斯，南达科他州的运营总部则位于该州休伦市。
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。
NWE vs RGLD — 直观对比
营收规模更大
NWE
是对方的1.1倍
$375.3M
营收增速更快
RGLD
高出74.4%
10.9%
净利率更高
RGLD
高出14.2%
10.8%
两年增速更快
RGLD
近两年复合增速
-6.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $414.3M | $375.3M |
| 净利润 | $44.7M | $93.6M |
| 毛利率 | — | 64.6% |
| 营业利润率 | 14.5% | 56.2% |
| 净利率 | 10.8% | 24.9% |
| 营收同比 | 10.9% | 85.3% |
| 净利润同比 | -44.5% | -12.8% |
| 每股收益（稀释后） | $0.72 | $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NWERGLD
| Q4 25 | $414.3M | $375.3M | ||
| Q3 25 | $387.0M | $252.1M | ||
| Q2 25 | $342.7M | $209.6M | ||
| Q1 25 | $466.6M | $193.4M | ||
| Q4 24 | $373.5M | $202.6M | ||
| Q3 24 | $345.2M | $193.8M | ||
| Q2 24 | $319.9M | $174.1M | ||
| Q1 24 | $475.3M | $148.9M |
净利润NWERGLD
| Q4 25 | $44.7M | $93.6M | ||
| Q3 25 | $38.2M | $126.8M | ||
| Q2 25 | $21.2M | $132.3M | ||
| Q1 25 | $76.9M | $113.5M | ||
| Q4 24 | $80.6M | $107.4M | ||
| Q3 24 | $46.8M | $96.2M | ||
| Q2 24 | $31.7M | $81.2M | ||
| Q1 24 | $65.1M | $47.2M |
毛利率NWERGLD
| Q4 25 | — | 64.6% | ||
| Q3 25 | — | 73.6% | ||
| Q2 25 | — | 72.6% | ||
| Q1 25 | — | 69.4% | ||
| Q4 24 | — | 70.3% | ||
| Q3 24 | — | 66.6% | ||
| Q2 24 | — | 64.7% | ||
| Q1 24 | — | 58.4% |
营业利润率NWERGLD
| Q4 25 | 14.5% | 56.2% | ||
| Q3 25 | 20.7% | 64.4% | ||
| Q2 25 | 17.7% | 67.7% | ||
| Q1 25 | 26.7% | 63.6% | ||
| Q4 24 | 24.6% | 65.9% | ||
| Q3 24 | 19.7% | 61.3% | ||
| Q2 24 | 19.3% | 58.6% | ||
| Q1 24 | 21.5% | 50.7% |
净利率NWERGLD
| Q4 25 | 10.8% | 24.9% | ||
| Q3 25 | 9.9% | 50.3% | ||
| Q2 25 | 6.2% | 63.1% | ||
| Q1 25 | 16.5% | 58.7% | ||
| Q4 24 | 21.6% | 53.0% | ||
| Q3 24 | 13.6% | 49.7% | ||
| Q2 24 | 9.9% | 46.6% | ||
| Q1 24 | 13.7% | 31.7% |
每股收益（稀释后）NWERGLD
| Q4 25 | $0.72 | $1.04 | ||
| Q3 25 | $0.62 | $1.92 | ||
| Q2 25 | $0.35 | $2.01 | ||
| Q1 25 | $1.25 | $1.72 | ||
| Q4 24 | $1.31 | $1.63 | ||
| Q3 24 | $0.76 | $1.46 | ||
| Q2 24 | $0.52 | $1.23 | ||
| Q1 24 | $1.06 | $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 | $8.8M | $233.7M |
| 总债务越低越好 | $3.3B | — |
| 股东权益账面价值 | $2.9B | $7.2B |
| 总资产 | $8.5B | $9.5B |
| 负债/权益比越低杠杆越低 | 1.14× | — |
8季度趋势，按日历期对齐
现金及短期投资NWERGLD
| Q4 25 | $8.8M | $233.7M | ||
| Q3 25 | $6.2M | $172.8M | ||
| Q2 25 | $2.9M | $248.2M | ||
| Q1 25 | $56.0M | $240.8M | ||
| Q4 24 | $4.3M | $195.5M | ||
| Q3 24 | $2.5M | $127.9M | ||
| Q2 24 | $6.4M | $74.2M | ||
| Q1 24 | $4.2M | $137.9M |
总债务NWERGLD
| Q4 25 | $3.3B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $50.0M | ||
| Q1 24 | — | — |
股东权益NWERGLD
| Q4 25 | $2.9B | $7.2B | ||
| Q3 25 | $2.9B | $3.4B | ||
| Q2 25 | $2.9B | $3.3B | ||
| Q1 25 | $2.9B | $3.2B | ||
| Q4 24 | $2.9B | $3.1B | ||
| Q3 24 | $2.8B | $3.0B | ||
| Q2 24 | $2.8B | $3.0B | ||
| Q1 24 | $2.8B | $2.9B |
总资产NWERGLD
| Q4 25 | $8.5B | $9.5B | ||
| Q3 25 | $8.3B | $4.5B | ||
| Q2 25 | $8.1B | $3.6B | ||
| Q1 25 | $8.1B | $3.5B | ||
| Q4 24 | $8.0B | $3.4B | ||
| Q3 24 | $7.9B | $3.3B | ||
| Q2 24 | $7.7B | $3.3B | ||
| Q1 24 | $7.6B | $3.3B |
负债/权益比NWERGLD
| Q4 25 | 1.14× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.05× | — | ||
| 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 | $56.2M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $-93.7M | — |
| 自由现金流率自由现金流/营收 | -22.6% | — |
| 资本支出强度资本支出/营收 | 36.2% | — |
| 现金转化率经营现金流/净利润 | 1.26× | 2.58× |
| 过去12个月自由现金流最近4个季度 | $-130.0M | — |
8季度趋势，按日历期对齐
经营现金流NWERGLD
| Q4 25 | $56.2M | $241.7M | ||
| Q3 25 | $126.7M | $174.0M | ||
| Q2 25 | $58.2M | $152.8M | ||
| Q1 25 | $153.4M | $136.4M | ||
| Q4 24 | $62.8M | $141.1M | ||
| Q3 24 | $120.0M | $136.7M | ||
| Q2 24 | $62.3M | $113.5M | ||
| Q1 24 | $161.7M | $138.3M |
自由现金流NWERGLD
| Q4 25 | $-93.7M | — | ||
| Q3 25 | $-26.9M | — | ||
| Q2 25 | $-70.6M | — | ||
| Q1 25 | $61.3M | — | ||
| Q4 24 | $-85.9M | — | ||
| Q3 24 | $-33.2M | — | ||
| Q2 24 | $-76.3M | — | ||
| Q1 24 | $52.9M | — |
自由现金流率NWERGLD
| Q4 25 | -22.6% | — | ||
| Q3 25 | -6.9% | — | ||
| Q2 25 | -20.6% | — | ||
| Q1 25 | 13.1% | — | ||
| Q4 24 | -23.0% | — | ||
| Q3 24 | -9.6% | — | ||
| Q2 24 | -23.9% | — | ||
| Q1 24 | 11.1% | — |
资本支出强度NWERGLD
| Q4 25 | 36.2% | — | ||
| Q3 25 | 39.7% | — | ||
| Q2 25 | 37.6% | — | ||
| Q1 25 | 19.7% | — | ||
| Q4 24 | 39.8% | — | ||
| Q3 24 | 44.4% | — | ||
| Q2 24 | 43.3% | — | ||
| Q1 24 | 22.9% | — |
现金转化率NWERGLD
| Q4 25 | 1.26× | 2.58× | ||
| Q3 25 | 3.31× | 1.37× | ||
| Q2 25 | 2.74× | 1.15× | ||
| Q1 25 | 1.99× | 1.20× | ||
| Q4 24 | 0.78× | 1.31× | ||
| Q3 24 | 2.56× | 1.42× | ||
| Q2 24 | 1.97× | 1.40× | ||
| Q1 24 | 2.48× | 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
NWE
| Electricity Us Regulated | $315.3M | 76% |
| Other Tariff Based Revenue | $50.5M | 12% |
| Transmission Customers | $28.4M | 7% |
| Industrial Customers | $11.0M | 3% |
| Other Customers | $6.1M | 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% |
