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RAYONIER ADVANCED MATERIALS INC.（RYAM）与Tilray Brands, Inc.（TLRY）财务数据对比。点击上方公司名可切换其他公司
RAYONIER ADVANCED MATERIALS INC.的季度营收约是Tilray Brands, Inc.的1.9倍（$417.5M vs $217.5M），RAYONIER ADVANCED MATERIALS INC.净利率更高（-5.0% vs -20.7%，领先15.6%），Tilray Brands, Inc.同比增速更快（3.1% vs -1.2%），过去两年Tilray Brands, Inc.的营收复合增速更高（7.5% vs 3.8%）
RYAM（原雷尼尔先进材料公司）是一家美国全球性纤维素技术企业，主打高纯度特种纤维素产品，所生产的天然聚合物广泛应用于过滤器生产、食品加工、医药制造及各类工业领域，同时也为造纸和包装行业供应相关产品，在纤维素技术领域拥有较高的行业认可度。
Tilray Brands, Inc.是一家美国企业，主营医药、大麻生活方式产品以及包装消费品业务，公司注册于美国，总部坐落于纽约。该公司在加拿大、澳大利亚、新西兰、拉美地区均开展业务，同时在德国和葡萄牙拥有大麻种植基地。
RYAM vs TLRY — 直观对比
营收规模更大
RYAM
是对方的1.9倍
$217.5M
营收增速更快
TLRY
高出4.3%
-1.2%
净利率更高
RYAM
高出15.6%
-20.7%
两年增速更快
TLRY
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $417.5M | $217.5M |
| 净利润 | $-21.1M | $-44.9M |
| 毛利率 | 8.9% | 26.4% |
| 营业利润率 | 2.6% | -10.2% |
| 净利率 | -5.0% | -20.7% |
| 营收同比 | -1.2% | 3.1% |
| 净利润同比 | -31.9% | 47.4% |
| 每股收益（稀释后） | $-0.33 | $-0.41 |
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RYAMTLRY
| Q4 25 | $417.5M | $217.5M | ||
| Q3 25 | $352.8M | $209.5M | ||
| Q2 25 | $340.0M | $224.5M | ||
| Q1 25 | $356.0M | $185.8M | ||
| Q4 24 | $422.5M | $210.9M | ||
| Q3 24 | $401.1M | $200.0M | ||
| Q2 24 | $419.0M | $229.9M | ||
| Q1 24 | $387.7M | $188.3M |
净利润RYAMTLRY
| Q4 25 | $-21.1M | $-44.9M | ||
| Q3 25 | $-4.5M | $-322.0K | ||
| Q2 25 | $-363.2M | $-1.3B | ||
| Q1 25 | $-32.0M | $-789.4M | ||
| Q4 24 | $-16.0M | $-85.3M | ||
| Q3 24 | $-32.6M | $-39.2M | ||
| Q2 24 | $11.4M | $-31.7M | ||
| Q1 24 | $-1.6M | $-92.7M |
毛利率RYAMTLRY
| Q4 25 | 8.9% | 26.4% | ||
| Q3 25 | 9.7% | 27.4% | ||
| Q2 25 | 7.0% | 30.1% | ||
| Q1 25 | 6.8% | 28.0% | ||
| Q4 24 | 8.7% | 29.0% | ||
| Q3 24 | 10.9% | 29.8% | ||
| Q2 24 | 11.5% | 35.8% | ||
| Q1 24 | 9.5% | 26.2% |
营业利润率RYAMTLRY
| Q4 25 | 2.6% | -10.2% | ||
| Q3 25 | 2.8% | 1.0% | ||
| Q2 25 | -0.4% | -643.1% | ||
| Q1 25 | -4.2% | -409.0% | ||
| Q4 24 | 2.6% | -20.0% | ||
| Q3 24 | -4.2% | -18.3% | ||
| Q2 24 | 6.7% | -7.2% | ||
| Q1 24 | 4.4% | -43.6% |
净利率RYAMTLRY
| Q4 25 | -5.0% | -20.7% | ||
| Q3 25 | -1.3% | -0.2% | ||
| Q2 25 | -106.8% | -566.9% | ||
| Q1 25 | -9.0% | -424.9% | ||
| Q4 24 | -3.8% | -40.5% | ||
| Q3 24 | -8.1% | -19.6% | ||
| Q2 24 | 2.7% | -13.8% | ||
| Q1 24 | -0.4% | -49.2% |
每股收益（稀释后）RYAMTLRY
| Q4 25 | $-0.33 | $-0.41 | ||
| Q3 25 | $-0.07 | $0.00 | ||
| Q2 25 | $-5.44 | $7.26 | ||
| Q1 25 | $-0.49 | $-8.69 | ||
| Q4 24 | $-0.25 | $-0.99 | ||
| Q3 24 | $-0.49 | $-0.04 | ||
| Q2 24 | $0.17 | $-0.04 | ||
| Q1 24 | $-0.02 | $-0.12 |
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 | $75.4M | $291.6M |
| 总债务越低越好 | $758.1M | — |
| 股东权益账面价值 | $316.6M | $1.6B |
| 总资产 | $1.8B | $2.1B |
| 负债/权益比越低杠杆越低 | 2.39× | — |
8季度趋势，按日历期对齐
现金及短期投资RYAMTLRY
| Q4 25 | $75.4M | $291.6M | ||
| Q3 25 | $77.0M | $264.8M | ||
| Q2 25 | $70.7M | $256.4M | ||
| Q1 25 | $129.9M | — | ||
| Q4 24 | $125.2M | $252.2M | ||
| Q3 24 | $136.1M | $280.1M | ||
| Q2 24 | $114.1M | $260.5M | ||
| Q1 24 | $54.6M | $225.9M |
总债务RYAMTLRY
| Q4 25 | $758.1M | — | ||
| Q3 25 | $763.5M | — | ||
| Q2 25 | $720.4M | — | ||
| Q1 25 | $707.0M | — | ||
| Q4 24 | $706.4M | — | ||
| Q3 24 | $747.7M | — | ||
| Q2 24 | $752.8M | — | ||
| Q1 24 | $755.6M | — |
股东权益RYAMTLRY
| Q4 25 | $316.6M | $1.6B | ||
| Q3 25 | $338.2M | $1.5B | ||
| Q2 25 | $342.3M | $1.5B | ||
| Q1 25 | $688.1M | $2.7B | ||
| Q4 24 | $713.9M | $3.5B | ||
| Q3 24 | $732.7M | $3.5B | ||
| Q2 24 | $755.1M | $3.4B | ||
| Q1 24 | $741.8M | $3.4B |
总资产RYAMTLRY
| Q4 25 | $1.8B | $2.1B | ||
| Q3 25 | $1.8B | $2.1B | ||
| Q2 25 | $1.8B | $2.1B | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $2.1B | $4.2B | ||
| Q3 24 | $2.2B | $4.3B | ||
| Q2 24 | $2.2B | $4.2B | ||
| Q1 24 | $2.1B | $4.2B |
负债/权益比RYAMTLRY
| Q4 25 | 2.39× | — | ||
| Q3 25 | 2.26× | — | ||
| Q2 25 | 2.10× | — | ||
| Q1 25 | 1.03× | — | ||
| Q4 24 | 0.99× | — | ||
| Q3 24 | 1.02× | — | ||
| Q2 24 | 1.00× | — | ||
| Q1 24 | 1.02× | — |
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 | $32.3M | $-8.5M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流RYAMTLRY
| Q4 25 | $32.3M | $-8.5M | ||
| Q3 25 | $-17.8M | $-1.3M | ||
| Q2 25 | $-30.2M | $-12.8M | ||
| Q1 25 | $39.6M | $-5.8M | ||
| Q4 24 | $54.9M | $-40.7M | ||
| Q3 24 | $49.8M | $-35.3M | ||
| Q2 24 | $87.6M | $30.7M | ||
| Q1 24 | $11.3M | $-15.4M |
自由现金流RYAMTLRY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-19.1M | ||
| Q1 25 | — | $-20.2M | ||
| Q4 24 | — | $-46.2M | ||
| Q3 24 | — | $-42.0M | ||
| Q2 24 | — | $21.0M | ||
| Q1 24 | — | $-24.9M |
自由现金流率RYAMTLRY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -8.5% | ||
| Q1 25 | — | -10.9% | ||
| Q4 24 | — | -21.9% | ||
| Q3 24 | — | -21.0% | ||
| Q2 24 | — | 9.1% | ||
| Q1 24 | — | -13.2% |
资本支出强度RYAMTLRY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | 7.8% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 3.4% | ||
| Q2 24 | — | 4.2% | ||
| Q1 24 | — | 5.1% |
现金转化率RYAMTLRY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 7.69× | — | ||
| Q1 24 | — | — |
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
RYAM
| Cellulose Specialties | $249.6M | 60% |
| Other | $86.2M | 21% |
| Paperboard | $44.2M | 11% |
| High Yield Pulp | $28.3M | 7% |
| Biomaterials | $9.2M | 2% |
TLRY
| Adultuse Cannabis Products | $62.4M | 29% |
| Other | $59.2M | 27% |
| Beverage Alcohol Business | $53.6M | 25% |
| International Cannabis Products | $20.2M | 9% |
| Wellness Business | $14.6M | 7% |
| Medical Cannabis Products | $6.2M | 3% |
| Wholesale Cannabis Products | $1.3M | 1% |
