vs
Paycom（PAYC）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
Paycom的季度营收约是ROYAL GOLD INC的1.5倍（$544.3M vs $375.3M），ROYAL GOLD INC净利率更高（24.9% vs 20.9%，领先4.0%），ROYAL GOLD INC同比增速更快（85.3% vs 10.2%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs 4.3%）
Paycom Software Inc.（简称Paycom）是1998年成立的线上薪资与人力资源软件服务商，总部位于美国俄克拉荷马城，在全美多地设有办事处，是全球最早推出全线上薪资管理服务的供应商之一，2025年营收达20.52亿美元，较2024年的18.83亿美元稳步增长。
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。
PAYC vs RGLD — 直观对比
营收规模更大
PAYC
是对方的1.5倍
$375.3M
营收增速更快
RGLD
高出75.1%
10.2%
净利率更高
RGLD
高出4.0%
20.9%
两年增速更快
RGLD
近两年复合增速
4.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $544.3M | $375.3M |
| 净利润 | $113.8M | $93.6M |
| 毛利率 | 83.9% | 64.6% |
| 营业利润率 | 28.9% | 56.2% |
| 净利率 | 20.9% | 24.9% |
| 营收同比 | 10.2% | 85.3% |
| 净利润同比 | 0.2% | -12.8% |
| 每股收益（稀释后） | $2.06 | $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PAYCRGLD
| Q4 25 | $544.3M | $375.3M | ||
| Q3 25 | $493.3M | $252.1M | ||
| Q2 25 | $483.6M | $209.6M | ||
| Q1 25 | $530.5M | $193.4M | ||
| Q4 24 | $493.9M | $202.6M | ||
| Q3 24 | $451.9M | $193.8M | ||
| Q2 24 | $437.5M | $174.1M | ||
| Q1 24 | $499.9M | $148.9M |
净利润PAYCRGLD
| Q4 25 | $113.8M | $93.6M | ||
| Q3 25 | $110.7M | $126.8M | ||
| Q2 25 | $89.5M | $132.3M | ||
| Q1 25 | $139.4M | $113.5M | ||
| Q4 24 | $113.6M | $107.4M | ||
| Q3 24 | $73.3M | $96.2M | ||
| Q2 24 | $68.0M | $81.2M | ||
| Q1 24 | $247.2M | $47.2M |
毛利率PAYCRGLD
| Q4 25 | 83.9% | 64.6% | ||
| Q3 25 | 82.7% | 73.6% | ||
| Q2 25 | 81.9% | 72.6% | ||
| Q1 25 | 84.1% | 69.4% | ||
| Q4 24 | 83.1% | 70.3% | ||
| Q3 24 | 80.5% | 66.6% | ||
| Q2 24 | 80.8% | 64.7% | ||
| Q1 24 | 84.3% | 58.4% |
营业利润率PAYCRGLD
| Q4 25 | 28.9% | 56.2% | ||
| Q3 25 | 22.8% | 64.4% | ||
| Q2 25 | 23.2% | 67.7% | ||
| Q1 25 | 34.9% | 63.6% | ||
| Q4 24 | 30.1% | 65.9% | ||
| Q3 24 | 23.2% | 61.3% | ||
| Q2 24 | 21.7% | 58.6% | ||
| Q1 24 | 57.2% | 50.7% |
净利率PAYCRGLD
| Q4 25 | 20.9% | 24.9% | ||
| Q3 25 | 22.4% | 50.3% | ||
| Q2 25 | 18.5% | 63.1% | ||
| Q1 25 | 26.3% | 58.7% | ||
| Q4 24 | 23.0% | 53.0% | ||
| Q3 24 | 16.2% | 49.7% | ||
| Q2 24 | 15.5% | 46.6% | ||
| Q1 24 | 49.4% | 31.7% |
每股收益（稀释后）PAYCRGLD
| Q4 25 | $2.06 | $1.04 | ||
| Q3 25 | $1.96 | $1.92 | ||
| Q2 25 | $1.58 | $2.01 | ||
| Q1 25 | $2.48 | $1.72 | ||
| Q4 24 | $2.04 | $1.63 | ||
| Q3 24 | $1.31 | $1.46 | ||
| Q2 24 | $1.20 | $1.23 | ||
| Q1 24 | $4.37 | $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 | $370.0M | $233.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.7B | $7.2B |
| 总资产 | $7.6B | $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PAYCRGLD
| Q4 25 | $370.0M | $233.7M | ||
| Q3 25 | $375.0M | $172.8M | ||
| Q2 25 | $532.2M | $248.2M | ||
| Q1 25 | $520.8M | $240.8M | ||
| Q4 24 | $402.0M | $195.5M | ||
| Q3 24 | $325.8M | $127.9M | ||
| Q2 24 | $346.5M | $74.2M | ||
| Q1 24 | $371.3M | $137.9M |
总债务PAYCRGLD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $50.0M | ||
| Q1 24 | — | — |
股东权益PAYCRGLD
| Q4 25 | $1.7B | $7.2B | ||
| Q3 25 | $1.7B | $3.4B | ||
| Q2 25 | $1.8B | $3.3B | ||
| Q1 25 | $1.7B | $3.2B | ||
| Q4 24 | $1.6B | $3.1B | ||
| Q3 24 | $1.5B | $3.0B | ||
| Q2 24 | $1.4B | $3.0B | ||
| Q1 24 | $1.4B | $2.9B |
总资产PAYCRGLD
| Q4 25 | $7.6B | $9.5B | ||
| Q3 25 | $4.2B | $4.5B | ||
| Q2 25 | $4.0B | $3.6B | ||
| Q1 25 | $4.6B | $3.5B | ||
| Q4 24 | $5.9B | $3.4B | ||
| Q3 24 | $3.5B | $3.3B | ||
| Q2 24 | $4.3B | $3.3B | ||
| Q1 24 | $4.7B | $3.3B |
负债/权益比PAYCRGLD
| 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 | $196.1M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $122.6M | — |
| 自由现金流率自由现金流/营收 | 22.5% | — |
| 资本支出强度资本支出/营收 | 13.5% | — |
| 现金转化率经营现金流/净利润 | 1.72× | 2.58× |
| 过去12个月自由现金流最近4个季度 | $408.0M | — |
8季度趋势，按日历期对齐
经营现金流PAYCRGLD
| Q4 25 | $196.1M | $241.7M | ||
| Q3 25 | $177.8M | $174.0M | ||
| Q2 25 | $122.5M | $152.8M | ||
| Q1 25 | $182.5M | $136.4M | ||
| Q4 24 | $160.4M | $141.1M | ||
| Q3 24 | $92.8M | $136.7M | ||
| Q2 24 | $132.1M | $113.5M | ||
| Q1 24 | $148.6M | $138.3M |
自由现金流PAYCRGLD
| Q4 25 | $122.6M | — | ||
| Q3 25 | $79.8M | — | ||
| Q2 25 | $60.8M | — | ||
| Q1 25 | $144.8M | — | ||
| Q4 24 | $109.0M | — | ||
| Q3 24 | $44.6M | — | ||
| Q2 24 | $86.5M | — | ||
| Q1 24 | $100.9M | — |
自由现金流率PAYCRGLD
| Q4 25 | 22.5% | — | ||
| Q3 25 | 16.2% | — | ||
| Q2 25 | 12.6% | — | ||
| Q1 25 | 27.3% | — | ||
| Q4 24 | 22.1% | — | ||
| Q3 24 | 9.9% | — | ||
| Q2 24 | 19.8% | — | ||
| Q1 24 | 20.2% | — |
资本支出强度PAYCRGLD
| Q4 25 | 13.5% | — | ||
| Q3 25 | 19.9% | — | ||
| Q2 25 | 12.8% | — | ||
| Q1 25 | 7.1% | — | ||
| Q4 24 | 10.4% | — | ||
| Q3 24 | 10.7% | — | ||
| Q2 24 | 10.4% | — | ||
| Q1 24 | 9.5% | — |
现金转化率PAYCRGLD
| Q4 25 | 1.72× | 2.58× | ||
| Q3 25 | 1.61× | 1.37× | ||
| Q2 25 | 1.37× | 1.15× | ||
| Q1 25 | 1.31× | 1.20× | ||
| Q4 24 | 1.41× | 1.31× | ||
| Q3 24 | 1.27× | 1.42× | ||
| Q2 24 | 1.94× | 1.40× | ||
| Q1 24 | 0.60× | 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
PAYC
| Recurring | $510.3M | 94% |
| Interest On Funds Held For Clients | $27.2M | 5% |
| Implementation And Other | $6.8M | 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% |
