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Northwest Natural Holding Co（NWN）与SSR MINING INC.（SSRM）财务数据对比。点击上方公司名可切换其他公司
SSR MINING INC.的季度营收约是Northwest Natural Holding Co的1.3倍（$521.7M vs $394.2M），SSR MINING INC.同比增速更快（61.4% vs 6.3%），SSR MINING INC.自由现金流更多（$106.4M vs $-131.0M），过去两年SSR MINING INC.的营收复合增速更高（50.5% vs -4.6%）
西北天然气控股公司是美国上市公用事业企业，总部位于俄勒冈州波特兰，成立于1859年。核心业务为天然气配送，服务俄勒冈州西部、华盛顿州西南部的居民、商业及工业客户，同时运营水务业务，目前服务约80万用户，年营收超10亿美元。
SSR Mining Inc.（前身为白银标准资源公司）总部位于美国科罗拉多州丹佛，主营金、银、铜、铅、锌矿产开采，拥有阿根廷最大的银矿，同时在美洲全境及土耳其开展矿产勘探业务。2020年与阿拉瑟黄金合并后迁至丹佛，现任总裁兼首席执行官为罗德尼·P·安塔尔。
NWN vs SSRM — 直观对比
营收规模更大
SSRM
是对方的1.3倍
$394.2M
营收增速更快
SSRM
高出55.2%
6.3%
自由现金流更多
SSRM
多$237.3M
$-131.0M
两年增速更快
SSRM
近两年复合增速
-4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $394.2M | $521.7M |
| 净利润 | — | $181.5M |
| 毛利率 | — | — |
| 营业利润率 | 28.4% | 38.8% |
| 净利率 | — | 34.8% |
| 营收同比 | 6.3% | 61.4% |
| 净利润同比 | — | 3166.6% |
| 每股收益（稀释后） | $1.38 | $0.84 |
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NWNSSRM
| Q4 25 | $394.2M | $521.7M | ||
| Q3 25 | $164.7M | $385.8M | ||
| Q2 25 | $236.2M | $405.5M | ||
| Q1 25 | $494.3M | $316.6M | ||
| Q4 24 | $370.9M | $323.2M | ||
| Q3 24 | $136.9M | $257.4M | ||
| Q2 24 | $211.7M | $184.8M | ||
| Q1 24 | $433.5M | $230.2M |
净利润NWNSSRM
| Q4 25 | — | $181.5M | ||
| Q3 25 | $-29.9M | $65.4M | ||
| Q2 25 | $-2.5M | $90.1M | ||
| Q1 25 | $87.9M | $58.8M | ||
| Q4 24 | — | $5.6M | ||
| Q3 24 | $-27.2M | $10.6M | ||
| Q2 24 | $-2.8M | $9.7M | ||
| Q1 24 | $63.8M | $-287.1M |
营业利润率NWNSSRM
| Q4 25 | 28.4% | 38.8% | ||
| Q3 25 | -7.5% | 21.6% | ||
| Q2 25 | 11.5% | 26.9% | ||
| Q1 25 | 31.2% | 21.1% | ||
| Q4 24 | 22.9% | 10.6% | ||
| Q3 24 | -14.1% | 3.5% | ||
| Q2 24 | 7.4% | 5.8% | ||
| Q1 24 | 25.3% | -163.5% |
净利率NWNSSRM
| Q4 25 | — | 34.8% | ||
| Q3 25 | -18.1% | 17.0% | ||
| Q2 25 | -1.1% | 22.2% | ||
| Q1 25 | 17.8% | 18.6% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | -19.8% | 4.1% | ||
| Q2 24 | -1.3% | 5.2% | ||
| Q1 24 | 14.7% | -124.7% |
每股收益（稀释后）NWNSSRM
| Q4 25 | $1.38 | $0.84 | ||
| Q3 25 | $-0.73 | $0.31 | ||
| Q2 25 | $-0.06 | $0.42 | ||
| Q1 25 | $2.18 | $0.28 | ||
| Q4 24 | $1.12 | $0.03 | ||
| Q3 24 | $-0.71 | $0.05 | ||
| Q2 24 | $-0.07 | $0.05 | ||
| Q1 24 | $1.69 | $-1.42 |
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 | $36.7M | $575.6M |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $1.5B | $3.5B |
| 总资产 | $6.2B | $6.1B |
| 负债/权益比越低杠杆越低 | 1.65× | — |
8季度趋势，按日历期对齐
现金及短期投资NWNSSRM
| Q4 25 | $36.7M | $575.6M | ||
| Q3 25 | $32.2M | $445.4M | ||
| Q2 25 | $102.6M | $438.5M | ||
| Q1 25 | $100.0M | $341.3M | ||
| Q4 24 | $38.5M | $417.3M | ||
| Q3 24 | $35.0M | $365.8M | ||
| Q2 24 | $65.2M | $384.4M | ||
| Q1 24 | $72.4M | $492.0M |
总债务NWNSSRM
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $1.7B | $228.6M | ||
| Q3 24 | $1.6B | $228.3M | ||
| Q2 24 | $1.6B | $228.0M | ||
| Q1 24 | $1.6B | $228.7M |
股东权益NWNSSRM
| Q4 25 | $1.5B | $3.5B | ||
| Q3 25 | $1.4B | $3.3B | ||
| Q2 25 | $1.5B | $3.3B | ||
| Q1 25 | $1.5B | $3.2B | ||
| Q4 24 | $1.4B | $3.1B | ||
| Q3 24 | $1.4B | $3.1B | ||
| Q2 24 | $1.3B | $3.1B | ||
| Q1 24 | $1.3B | $3.1B |
总资产NWNSSRM
| Q4 25 | $6.2B | $6.1B | ||
| Q3 25 | $5.9B | $5.9B | ||
| Q2 25 | $5.8B | $5.8B | ||
| Q1 25 | $5.7B | $5.6B | ||
| Q4 24 | $5.2B | $5.2B | ||
| Q3 24 | $4.9B | $5.1B | ||
| Q2 24 | $4.8B | $5.2B | ||
| Q1 24 | $4.8B | $5.3B |
负债/权益比NWNSSRM
| Q4 25 | 1.65× | — | ||
| Q3 25 | 1.56× | — | ||
| Q2 25 | 1.53× | — | ||
| Q1 25 | 1.53× | — | ||
| Q4 24 | 1.23× | 0.07× | ||
| Q3 24 | 1.16× | 0.07× | ||
| Q2 24 | 1.17× | 0.07× | ||
| Q1 24 | 1.17× | 0.07× |
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 | $3.3M | $172.1M |
| 自由现金流经营现金流 - 资本支出 | $-131.0M | $106.4M |
| 自由现金流率自由现金流/营收 | -33.2% | 20.4% |
| 资本支出强度资本支出/营收 | 34.1% | 12.6% |
| 现金转化率经营现金流/净利润 | — | 0.95× |
| 过去12个月自由现金流最近4个季度 | $-197.8M | $241.6M |
8季度趋势，按日历期对齐
经营现金流NWNSSRM
| Q4 25 | $3.3M | $172.1M | ||
| Q3 25 | $-15.9M | $57.2M | ||
| Q2 25 | $102.2M | $157.8M | ||
| Q1 25 | $179.6M | $84.8M | ||
| Q4 24 | $-19.4M | $95.0M | ||
| Q3 24 | $-26.4M | $-1.3M | ||
| Q2 24 | $121.0M | $-78.1M | ||
| Q1 24 | $125.0M | $24.6M |
自由现金流NWNSSRM
| Q4 25 | $-131.0M | $106.4M | ||
| Q3 25 | $-125.9M | $-2.4M | ||
| Q2 25 | $-18.3M | $98.4M | ||
| Q1 25 | $77.4M | $39.3M | ||
| Q4 24 | $-119.6M | $56.4M | ||
| Q3 24 | $-121.7M | $-34.1M | ||
| Q2 24 | $4.3M | $-116.3M | ||
| Q1 24 | $42.8M | $-9.4M |
自由现金流率NWNSSRM
| Q4 25 | -33.2% | 20.4% | ||
| Q3 25 | -76.4% | -0.6% | ||
| Q2 25 | -7.8% | 24.3% | ||
| Q1 25 | 15.7% | 12.4% | ||
| Q4 24 | -32.2% | 17.5% | ||
| Q3 24 | -88.9% | -13.2% | ||
| Q2 24 | 2.0% | -62.9% | ||
| Q1 24 | 9.9% | -4.1% |
资本支出强度NWNSSRM
| Q4 25 | 34.1% | 12.6% | ||
| Q3 25 | 66.8% | 15.4% | ||
| Q2 25 | 51.0% | 14.7% | ||
| Q1 25 | 20.7% | 14.4% | ||
| Q4 24 | 27.0% | 11.9% | ||
| Q3 24 | 69.6% | 12.7% | ||
| Q2 24 | 55.1% | 20.7% | ||
| Q1 24 | 19.0% | 14.8% |
现金转化率NWNSSRM
| Q4 25 | — | 0.95× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | 2.04× | 1.44× | ||
| Q4 24 | — | 17.10× | ||
| Q3 24 | — | -0.13× | ||
| Q2 24 | — | -8.06× | ||
| Q1 24 | 1.96× | — |
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
NWN
| NWN Gas Utility | $341.4M | 87% |
| Alternativerevenue | $27.2M | 7% |
| Si Energy Gas Utility | $20.0M | 5% |
| NW Natural Other | $6.9M | 2% |
SSRM
| Gold | $369.3M | 71% |
| Concentrate Sales | $124.4M | 24% |
| Other | $19.1M | 4% |
| Lead | $9.0M | 2% |
