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Park Hotels & Resorts Inc.（PK）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
Park Hotels & Resorts Inc.的季度营收约是ROYAL GOLD INC的1.7倍（$629.0M vs $375.3M），ROYAL GOLD INC净利率更高（24.9% vs -32.6%，领先57.5%），ROYAL GOLD INC同比增速更快（85.3% vs 0.6%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs -0.8%）
Park Hotels & Resorts是一家总部位于美国弗吉尼亚州泰森斯的房地产投资信托（REIT），核心业务为酒店物业投资运营。该企业于2017年从希尔顿全球集团分拆成立，在酒店不动产领域拥有专业的投资与管理经验。
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。
PK vs RGLD — 直观对比
营收规模更大
PK
是对方的1.7倍
$375.3M
营收增速更快
RGLD
高出84.7%
0.6%
净利率更高
RGLD
高出57.5%
-32.6%
两年增速更快
RGLD
近两年复合增速
-0.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $629.0M | $375.3M |
| 净利润 | $-205.0M | $93.6M |
| 毛利率 | — | 64.6% |
| 营业利润率 | -26.1% | 56.2% |
| 净利率 | -32.6% | 24.9% |
| 营收同比 | 0.6% | 85.3% |
| 净利润同比 | -410.6% | -12.8% |
| 每股收益（稀释后） | $-1.04 | $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PKRGLD
| Q4 25 | $629.0M | $375.3M | ||
| Q3 25 | $610.0M | $252.1M | ||
| Q2 25 | $672.0M | $209.6M | ||
| Q1 25 | $630.0M | $193.4M | ||
| Q4 24 | $625.0M | $202.6M | ||
| Q3 24 | $649.0M | $193.8M | ||
| Q2 24 | $686.0M | $174.1M | ||
| Q1 24 | $639.0M | $148.9M |
净利润PKRGLD
| Q4 25 | $-205.0M | $93.6M | ||
| Q3 25 | $-16.0M | $126.8M | ||
| Q2 25 | $-5.0M | $132.3M | ||
| Q1 25 | $-57.0M | $113.5M | ||
| Q4 24 | $66.0M | $107.4M | ||
| Q3 24 | $54.0M | $96.2M | ||
| Q2 24 | $64.0M | $81.2M | ||
| Q1 24 | $28.0M | $47.2M |
毛利率PKRGLD
| 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PKRGLD
| Q4 25 | -26.1% | 56.2% | ||
| Q3 25 | 9.7% | 64.4% | ||
| Q2 25 | 9.7% | 67.7% | ||
| Q1 25 | 1.1% | 63.6% | ||
| Q4 24 | 13.3% | 65.9% | ||
| Q3 24 | 14.6% | 61.3% | ||
| Q2 24 | 17.6% | 58.6% | ||
| Q1 24 | 14.4% | 50.7% |
净利率PKRGLD
| Q4 25 | -32.6% | 24.9% | ||
| Q3 25 | -2.6% | 50.3% | ||
| Q2 25 | -0.7% | 63.1% | ||
| Q1 25 | -9.0% | 58.7% | ||
| Q4 24 | 10.6% | 53.0% | ||
| Q3 24 | 8.3% | 49.7% | ||
| Q2 24 | 9.3% | 46.6% | ||
| Q1 24 | 4.4% | 31.7% |
每股收益（稀释后）PKRGLD
| Q4 25 | $-1.04 | $1.04 | ||
| Q3 25 | $-0.08 | $1.92 | ||
| Q2 25 | $-0.02 | $2.01 | ||
| Q1 25 | $-0.29 | $1.72 | ||
| Q4 24 | $0.32 | $1.63 | ||
| Q3 24 | $0.26 | $1.46 | ||
| Q2 24 | $0.30 | $1.23 | ||
| Q1 24 | $0.13 | $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 | $232.0M | $233.7M |
| 总债务越低越好 | $3.9B | — |
| 股东权益账面价值 | $3.1B | $7.2B |
| 总资产 | $7.7B | $9.5B |
| 负债/权益比越低杠杆越低 | 1.23× | — |
8季度趋势，按日历期对齐
现金及短期投资PKRGLD
| Q4 25 | $232.0M | $233.7M | ||
| Q3 25 | $278.0M | $172.8M | ||
| Q2 25 | $319.0M | $248.2M | ||
| Q1 25 | $233.0M | $240.8M | ||
| Q4 24 | $402.0M | $195.5M | ||
| Q3 24 | $480.0M | $127.9M | ||
| Q2 24 | $449.0M | $74.2M | ||
| Q1 24 | $378.0M | $137.9M |
总债务PKRGLD
| Q4 25 | $3.9B | — | ||
| Q3 25 | $3.9B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.9B | — | ||
| Q4 24 | $3.9B | — | ||
| Q3 24 | $3.9B | $0 | ||
| Q2 24 | $3.9B | $50.0M | ||
| Q1 24 | $3.8B | — |
股东权益PKRGLD
| Q4 25 | $3.1B | $7.2B | ||
| Q3 25 | $3.4B | $3.4B | ||
| Q2 25 | $3.4B | $3.3B | ||
| Q1 25 | $3.5B | $3.2B | ||
| Q4 24 | $3.6B | $3.1B | ||
| Q3 24 | $3.8B | $3.0B | ||
| Q2 24 | $3.8B | $3.0B | ||
| Q1 24 | $3.8B | $2.9B |
总资产PKRGLD
| Q4 25 | $7.7B | $9.5B | ||
| Q3 25 | $8.8B | $4.5B | ||
| Q2 25 | $8.9B | $3.6B | ||
| Q1 25 | $8.9B | $3.5B | ||
| Q4 24 | $9.2B | $3.4B | ||
| Q3 24 | $9.2B | $3.3B | ||
| Q2 24 | $9.2B | $3.3B | ||
| Q1 24 | $9.1B | $3.3B |
负债/权益比PKRGLD
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.14× | — | ||
| Q2 25 | 1.12× | — | ||
| Q1 25 | 1.11× | — | ||
| Q4 24 | 1.06× | — | ||
| Q3 24 | 1.03× | 0.00× | ||
| Q2 24 | 1.03× | 0.02× | ||
| Q1 24 | 1.00× | — |
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 | $105.0M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $-3.0M | — |
| 自由现金流率自由现金流/营收 | -0.5% | — |
| 资本支出强度资本支出/营收 | 17.2% | — |
| 现金转化率经营现金流/净利润 | — | 2.58× |
| 过去12个月自由现金流最近4个季度 | $102.0M | — |
8季度趋势，按日历期对齐
经营现金流PKRGLD
| Q4 25 | $105.0M | $241.7M | ||
| Q3 25 | $99.0M | $174.0M | ||
| Q2 25 | $108.0M | $152.8M | ||
| Q1 25 | $86.0M | $136.4M | ||
| Q4 24 | $80.0M | $141.1M | ||
| Q3 24 | $140.0M | $136.7M | ||
| Q2 24 | $117.0M | $113.5M | ||
| Q1 24 | $92.0M | $138.3M |
自由现金流PKRGLD
| Q4 25 | $-3.0M | — | ||
| Q3 25 | $31.0M | — | ||
| Q2 25 | $65.0M | — | ||
| Q1 25 | $9.0M | — | ||
| Q4 24 | $17.0M | — | ||
| Q3 24 | $97.0M | — | ||
| Q2 24 | $66.0M | — | ||
| Q1 24 | $22.0M | — |
自由现金流率PKRGLD
| Q4 25 | -0.5% | — | ||
| Q3 25 | 5.1% | — | ||
| Q2 25 | 9.7% | — | ||
| Q1 25 | 1.4% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 14.9% | — | ||
| Q2 24 | 9.6% | — | ||
| Q1 24 | 3.4% | — |
资本支出强度PKRGLD
| Q4 25 | 17.2% | — | ||
| Q3 25 | 11.1% | — | ||
| Q2 25 | 6.4% | — | ||
| Q1 25 | 12.2% | — | ||
| Q4 24 | 10.1% | — | ||
| Q3 24 | 6.6% | — | ||
| Q2 24 | 7.4% | — | ||
| Q1 24 | 11.0% | — |
现金转化率PKRGLD
| Q4 25 | — | 2.58× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | 1.21× | 1.31× | ||
| Q3 24 | 2.59× | 1.42× | ||
| Q2 24 | 1.83× | 1.40× | ||
| Q1 24 | 3.29× | 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
PK
| Occupancy | $371.0M | 59% |
| Food And Beverage | $173.0M | 28% |
| Ancillary Hotel | $61.0M | 10% |
| Hotel Other | $24.0M | 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% |
