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棒约翰（PZZA）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
棒约翰的季度营收约是ROYAL GOLD INC的1.3倍（$498.2M vs $375.3M），ROYAL GOLD INC净利率更高（24.9% vs 1.4%，领先23.5%），ROYAL GOLD INC同比增速更快（85.3% vs -6.1%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% vs -1.5%）
棒约翰国际是源自美国的知名披萨餐饮连锁品牌，截至2023年，它是美国市场规模第四大披萨外送连锁餐饮集团，总部设于肯塔基州路易斯维尔与佐治亚州亚特兰大的都会区，在全球多地开设门店，主打披萨外卖业务。
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。
PZZA vs RGLD — 直观对比
营收规模更大
PZZA
是对方的1.3倍
$375.3M
营收增速更快
RGLD
高出91.4%
-6.1%
净利率更高
RGLD
高出23.5%
1.4%
两年增速更快
RGLD
近两年复合增速
-1.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $498.2M | $375.3M |
| 净利润 | $7.1M | $93.6M |
| 毛利率 | — | 64.6% |
| 营业利润率 | 4.9% | 56.2% |
| 净利率 | 1.4% | 24.9% |
| 营收同比 | -6.1% | 85.3% |
| 净利润同比 | -52.2% | -12.8% |
| 每股收益（稀释后） | $0.22 | $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PZZARGLD
| Q4 25 | $498.2M | $375.3M | ||
| Q3 25 | $508.2M | $252.1M | ||
| Q2 25 | $529.2M | $209.6M | ||
| Q1 25 | $518.3M | $193.4M | ||
| Q4 24 | $530.8M | $202.6M | ||
| Q3 24 | $506.8M | $193.8M | ||
| Q2 24 | $507.9M | $174.1M | ||
| Q1 24 | $513.9M | $148.9M |
净利润PZZARGLD
| Q4 25 | $7.1M | $93.6M | ||
| Q3 25 | $4.7M | $126.8M | ||
| Q2 25 | $9.5M | $132.3M | ||
| Q1 25 | $9.2M | $113.5M | ||
| Q4 24 | $14.8M | $107.4M | ||
| Q3 24 | $41.8M | $96.2M | ||
| Q2 24 | $12.2M | $81.2M | ||
| Q1 24 | $14.6M | $47.2M |
毛利率PZZARGLD
| 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PZZARGLD
| Q4 25 | 4.9% | 56.2% | ||
| Q3 25 | 3.2% | 64.4% | ||
| Q2 25 | 4.6% | 67.7% | ||
| Q1 25 | 4.6% | 63.6% | ||
| Q4 24 | 5.6% | 65.9% | ||
| Q3 24 | 12.9% | 61.3% | ||
| Q2 24 | 5.6% | 58.6% | ||
| Q1 24 | 6.6% | 50.7% |
净利率PZZARGLD
| Q4 25 | 1.4% | 24.9% | ||
| Q3 25 | 0.9% | 50.3% | ||
| Q2 25 | 1.8% | 63.1% | ||
| Q1 25 | 1.8% | 58.7% | ||
| Q4 24 | 2.8% | 53.0% | ||
| Q3 24 | 8.2% | 49.7% | ||
| Q2 24 | 2.4% | 46.6% | ||
| Q1 24 | 2.8% | 31.7% |
每股收益（稀释后）PZZARGLD
| Q4 25 | $0.22 | $1.04 | ||
| Q3 25 | $0.13 | $1.92 | ||
| Q2 25 | $0.28 | $2.01 | ||
| Q1 25 | $0.27 | $1.72 | ||
| Q4 24 | $0.46 | $1.63 | ||
| Q3 24 | $1.27 | $1.46 | ||
| Q2 24 | $0.37 | $1.23 | ||
| Q1 24 | $0.44 | $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 | $34.6M | $233.7M |
| 总债务越低越好 | $722.3M | — |
| 股东权益账面价值 | $-444.8M | $7.2B |
| 总资产 | $837.5M | $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PZZARGLD
| Q4 25 | $34.6M | $233.7M | ||
| Q3 25 | $39.0M | $172.8M | ||
| Q2 25 | $33.3M | $248.2M | ||
| Q1 25 | $44.0M | $240.8M | ||
| Q4 24 | $38.0M | $195.5M | ||
| Q3 24 | $17.6M | $127.9M | ||
| Q2 24 | $24.3M | $74.2M | ||
| Q1 24 | $27.8M | $137.9M |
总债务PZZARGLD
| Q4 25 | $722.3M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $50.0M | ||
| Q1 24 | — | — |
股东权益PZZARGLD
| Q4 25 | $-444.8M | $7.2B | ||
| Q3 25 | $-439.3M | $3.4B | ||
| Q2 25 | $-432.0M | $3.3B | ||
| Q1 25 | $-431.9M | $3.2B | ||
| Q4 24 | $-429.5M | $3.1B | ||
| Q3 24 | $-430.9M | $3.0B | ||
| Q2 24 | $-461.7M | $3.0B | ||
| Q1 24 | $-461.9M | $2.9B |
总资产PZZARGLD
| Q4 25 | $837.5M | $9.5B | ||
| Q3 25 | $884.1M | $4.5B | ||
| Q2 25 | $890.4M | $3.6B | ||
| Q1 25 | $898.1M | $3.5B | ||
| Q4 24 | $889.0M | $3.4B | ||
| Q3 24 | $860.9M | $3.3B | ||
| Q2 24 | $838.4M | $3.3B | ||
| Q1 24 | $847.2M | $3.3B |
负债/权益比PZZARGLD
| 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 | $19.8M | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $2.1M | — |
| 自由现金流率自由现金流/营收 | 0.4% | — |
| 资本支出强度资本支出/营收 | 3.6% | — |
| 现金转化率经营现金流/净利润 | 2.80× | 2.58× |
| 过去12个月自由现金流最近4个季度 | $61.3M | — |
8季度趋势，按日历期对齐
经营现金流PZZARGLD
| Q4 25 | $19.8M | $241.7M | ||
| Q3 25 | $39.3M | $174.0M | ||
| Q2 25 | $35.5M | $152.8M | ||
| Q1 25 | $31.3M | $136.4M | ||
| Q4 24 | $50.7M | $141.1M | ||
| Q3 24 | $13.9M | $136.7M | ||
| Q2 24 | $30.0M | $113.5M | ||
| Q1 24 | $12.0M | $138.3M |
自由现金流PZZARGLD
| Q4 25 | $2.1M | — | ||
| Q3 25 | $22.7M | — | ||
| Q2 25 | $17.4M | — | ||
| Q1 25 | $19.1M | — | ||
| Q4 24 | $25.2M | — | ||
| Q3 24 | $-3.8M | — | ||
| Q2 24 | $13.9M | — | ||
| Q1 24 | $-1.1M | — |
自由现金流率PZZARGLD
| Q4 25 | 0.4% | — | ||
| Q3 25 | 4.5% | — | ||
| Q2 25 | 3.3% | — | ||
| Q1 25 | 3.7% | — | ||
| Q4 24 | 4.7% | — | ||
| Q3 24 | -0.8% | — | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | -0.2% | — |
资本支出强度PZZARGLD
| Q4 25 | 3.6% | — | ||
| Q3 25 | 3.3% | — | ||
| Q2 25 | 3.4% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | 3.5% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 2.5% | — |
现金转化率PZZARGLD
| Q4 25 | 2.80× | 2.58× | ||
| Q3 25 | 8.36× | 1.37× | ||
| Q2 25 | 3.73× | 1.15× | ||
| Q1 25 | 3.40× | 1.20× | ||
| Q4 24 | 3.43× | 1.31× | ||
| Q3 24 | 0.33× | 1.42× | ||
| Q2 24 | 2.45× | 1.40× | ||
| Q1 24 | 0.82× | 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
PZZA
| Commissary | $236.8M | 48% |
| Company Owned Restaurant Sales | $154.4M | 31% |
| Franchisor | $47.5M | 10% |
| Advertising | $37.2M | 7% |
| Other | $22.2M | 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% |
