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必能宝（PBI）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
必能宝的季度营收约是ROYAL GOLD INC的1.3倍（$477.6M vs $375.3M），ROYAL GOLD INC净利率更高（24.9% vs 5.7%，领先19.2%），ROYAL GOLD INC同比增速更快（85.3% vs -7.5%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs -4.3%）
必能宝（Pitney Bowes）是全球知名科技与物流服务商，提供电商配送、邮寄处理、订单履约及客户信息管理解决方案，服务零售、金融、医疗、政府等领域的各类大中小企业客户，助力企业优化物流配送与客户运营效率。
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。
PBI vs RGLD — 直观对比
营收规模更大
PBI
是对方的1.3倍
$375.3M
营收增速更快
RGLD
高出92.7%
-7.5%
净利率更高
RGLD
高出19.2%
5.7%
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 | $477.6M | $375.3M |
| 净利润 | $27.3M | $93.6M |
| 毛利率 | — | 64.6% |
| 营业利润率 | 8.0% | 56.2% |
| 净利率 | 5.7% | 24.9% |
| 营收同比 | -7.5% | 85.3% |
| 净利润同比 | 173.1% | -12.8% |
| 每股收益（稀释后） | $0.18 | $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PBIRGLD
| Q4 25 | $477.6M | $375.3M | ||
| Q3 25 | $459.7M | $252.1M | ||
| Q2 25 | $461.9M | $209.6M | ||
| Q1 25 | $493.4M | $193.4M | ||
| Q4 24 | $516.1M | $202.6M | ||
| Q3 24 | $499.5M | $193.8M | ||
| Q2 24 | $489.7M | $174.1M | ||
| Q1 24 | $521.3M | $148.9M |
净利润PBIRGLD
| Q4 25 | $27.3M | $93.6M | ||
| Q3 25 | $52.0M | $126.8M | ||
| Q2 25 | $30.0M | $132.3M | ||
| Q1 25 | $35.4M | $113.5M | ||
| Q4 24 | $-37.4M | $107.4M | ||
| Q3 24 | $-138.5M | $96.2M | ||
| Q2 24 | $-24.9M | $81.2M | ||
| Q1 24 | $-2.9M | $47.2M |
毛利率PBIRGLD
| Q4 25 | — | 64.6% | ||
| Q3 25 | — | 73.6% | ||
| Q2 25 | — | 72.6% | ||
| Q1 25 | — | 69.4% | ||
| Q4 24 | 53.8% | 70.3% | ||
| Q3 24 | 52.4% | 66.6% | ||
| Q2 24 | 51.1% | 64.7% | ||
| Q1 24 | 52.3% | 58.4% |
营业利润率PBIRGLD
| Q4 25 | 8.0% | 56.2% | ||
| Q3 25 | 14.8% | 64.4% | ||
| Q2 25 | 8.5% | 67.7% | ||
| Q1 25 | 9.5% | 63.6% | ||
| Q4 24 | -9.3% | 65.9% | ||
| Q3 24 | -8.8% | 61.3% | ||
| Q2 24 | -1.6% | 58.6% | ||
| Q1 24 | 9.1% | 50.7% |
净利率PBIRGLD
| Q4 25 | 5.7% | 24.9% | ||
| Q3 25 | 11.3% | 50.3% | ||
| Q2 25 | 6.5% | 63.1% | ||
| Q1 25 | 7.2% | 58.7% | ||
| Q4 24 | -7.2% | 53.0% | ||
| Q3 24 | -27.7% | 49.7% | ||
| Q2 24 | -5.1% | 46.6% | ||
| Q1 24 | -0.6% | 31.7% |
每股收益（稀释后）PBIRGLD
| Q4 25 | $0.18 | $1.04 | ||
| Q3 25 | $0.30 | $1.92 | ||
| Q2 25 | $0.17 | $2.01 | ||
| Q1 25 | $0.19 | $1.72 | ||
| Q4 24 | $-0.21 | $1.63 | ||
| Q3 24 | $-0.75 | $1.46 | ||
| Q2 24 | $-0.14 | $1.23 | ||
| Q1 24 | $-0.02 | $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 | $297.1M | $233.7M |
| 总债务越低越好 | $2.0B | — |
| 股东权益账面价值 | $-802.4M | $7.2B |
| 总资产 | $3.2B | $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PBIRGLD
| Q4 25 | $297.1M | $233.7M | ||
| Q3 25 | $336.0M | $172.8M | ||
| Q2 25 | $300.8M | $248.2M | ||
| Q1 25 | $340.0M | $240.8M | ||
| Q4 24 | $486.1M | $195.5M | ||
| Q3 24 | $575.5M | $127.9M | ||
| Q2 24 | $612.0M | $74.2M | ||
| Q1 24 | $538.0M | $137.9M |
总债务PBIRGLD
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $2.1B | $0 | ||
| Q2 24 | $2.1B | $50.0M | ||
| Q1 24 | $2.1B | — |
股东权益PBIRGLD
| Q4 25 | $-802.4M | $7.2B | ||
| Q3 25 | $-661.5M | $3.4B | ||
| Q2 25 | $-536.8M | $3.3B | ||
| Q1 25 | $-535.9M | $3.2B | ||
| Q4 24 | $-578.4M | $3.1B | ||
| Q3 24 | $-518.9M | $3.0B | ||
| Q2 24 | $-427.9M | $3.0B | ||
| Q1 24 | $-392.4M | $2.9B |
总资产PBIRGLD
| Q4 25 | $3.2B | $9.5B | ||
| Q3 25 | $3.3B | $4.5B | ||
| Q2 25 | $3.2B | $3.6B | ||
| Q1 25 | $3.3B | $3.5B | ||
| Q4 24 | $3.4B | $3.4B | ||
| Q3 24 | $3.6B | $3.3B | ||
| Q2 24 | $4.1B | $3.3B | ||
| Q1 24 | $4.1B | $3.3B |
负债/权益比PBIRGLD
| 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 | $221.7M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $201.4M | — |
| 自由现金流率自由现金流/营收 | 42.2% | — |
| 资本支出强度资本支出/营收 | 4.2% | — |
| 现金转化率经营现金流/净利润 | 8.11× | 2.58× |
| 过去12个月自由现金流最近4个季度 | $317.0M | — |
8季度趋势，按日历期对齐
经营现金流PBIRGLD
| Q4 25 | $221.7M | $241.7M | ||
| Q3 25 | $66.8M | $174.0M | ||
| Q2 25 | $111.4M | $152.8M | ||
| Q1 25 | $-16.7M | $136.4M | ||
| Q4 24 | $134.5M | $141.1M | ||
| Q3 24 | $14.7M | $136.7M | ||
| Q2 24 | $92.6M | $113.5M | ||
| Q1 24 | $-12.6M | $138.3M |
自由现金流PBIRGLD
| Q4 25 | $201.4M | — | ||
| Q3 25 | $51.1M | — | ||
| Q2 25 | $98.0M | — | ||
| Q1 25 | $-33.6M | — | ||
| Q4 24 | $112.3M | — | ||
| Q3 24 | $-4.7M | — | ||
| Q2 24 | $76.1M | — | ||
| Q1 24 | $-26.9M | — |
自由现金流率PBIRGLD
| Q4 25 | 42.2% | — | ||
| Q3 25 | 11.1% | — | ||
| Q2 25 | 21.2% | — | ||
| Q1 25 | -6.8% | — | ||
| Q4 24 | 21.8% | — | ||
| Q3 24 | -0.9% | — | ||
| Q2 24 | 15.5% | — | ||
| Q1 24 | -5.2% | — |
资本支出强度PBIRGLD
| Q4 25 | 4.2% | — | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 3.4% | — | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 3.9% | — | ||
| Q2 24 | 3.4% | — | ||
| Q1 24 | 2.7% | — |
现金转化率PBIRGLD
| Q4 25 | 8.11× | 2.58× | ||
| Q3 25 | 1.29× | 1.37× | ||
| Q2 25 | 3.72× | 1.15× | ||
| Q1 25 | -0.47× | 1.20× | ||
| Q4 24 | — | 1.31× | ||
| Q3 24 | — | 1.42× | ||
| Q2 24 | — | 1.40× | ||
| Q1 24 | — | 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
PBI
| Sales And Services | $218.4M | 46% |
| Presort Services | $159.7M | 33% |
| Financing And Other | $79.0M | 17% |
| Other | $20.5M | 4% |
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% |
