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RAYONIER ADVANCED MATERIALS INC.（RYAM）与Texas Pacific Land Corporation（TPL）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Texas Pacific Land Corporation的2.0倍（$417.5M vs $211.6M），Texas Pacific Land Corporation净利率更高（58.3% vs -5.0%，领先63.3%），Texas Pacific Land Corporation同比增速更快（13.9% vs -1.2%），过去两年Texas Pacific Land Corporation的营收复合增速更高（10.2% 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。
Texas Pacific Land Corporation（简称TPL）是一家公开上市的不动产运营企业，行政总部位于美国得克萨斯州达拉斯市。公司在得州西部20个郡拥有逾88万英亩（约3600平方公里）土地，是得州规模最大的私人土地所有者之一，前身为得克萨斯太平洋土地信托。
RYAM vs TPL — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $417.5M | $211.6M |
| 净利润 | $-21.1M | $123.3M |
| 毛利率 | 8.9% | — |
| 营业利润率 | 2.6% | 70.5% |
| 净利率 | -5.0% | 58.3% |
| 营收同比 | -1.2% | 13.9% |
| 净利润同比 | -31.9% | 4.2% |
| 每股收益（稀释后） | $-0.33 | $-8.59 |
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
| Q4 25 | $417.5M | $211.6M | ||
| Q3 25 | $352.8M | $203.1M | ||
| Q2 25 | $340.0M | $187.5M | ||
| Q1 25 | $356.0M | $196.0M | ||
| Q4 24 | $422.5M | $185.8M | ||
| Q3 24 | $401.1M | $173.6M | ||
| Q2 24 | $419.0M | $172.3M | ||
| Q1 24 | $387.7M | $174.1M |
| Q4 25 | $-21.1M | $123.3M | ||
| Q3 25 | $-4.5M | $121.2M | ||
| Q2 25 | $-363.2M | $116.1M | ||
| Q1 25 | $-32.0M | $120.7M | ||
| Q4 24 | $-16.0M | $118.4M | ||
| Q3 24 | $-32.6M | $106.6M | ||
| Q2 24 | $11.4M | $114.6M | ||
| Q1 24 | $-1.6M | $114.4M |
| Q4 25 | 8.9% | — | ||
| Q3 25 | 9.7% | — | ||
| Q2 25 | 7.0% | — | ||
| Q1 25 | 6.8% | — | ||
| Q4 24 | 8.7% | — | ||
| Q3 24 | 10.9% | — | ||
| Q2 24 | 11.5% | — | ||
| Q1 24 | 9.5% | — |
| Q4 25 | 2.6% | 70.5% | ||
| Q3 25 | 2.8% | 73.4% | ||
| Q2 25 | -0.4% | 76.6% | ||
| Q1 25 | -4.2% | 76.6% | ||
| Q4 24 | 2.6% | 76.7% | ||
| Q3 24 | -4.2% | 73.4% | ||
| Q2 24 | 6.7% | 77.3% | ||
| Q1 24 | 4.4% | 78.1% |
| Q4 25 | -5.0% | 58.3% | ||
| Q3 25 | -1.3% | 59.7% | ||
| Q2 25 | -106.8% | 61.9% | ||
| Q1 25 | -9.0% | 61.6% | ||
| Q4 24 | -3.8% | 63.7% | ||
| Q3 24 | -8.1% | 61.4% | ||
| Q2 24 | 2.7% | 66.5% | ||
| Q1 24 | -0.4% | 65.7% |
| Q4 25 | $-0.33 | $-8.59 | ||
| Q3 25 | $-0.07 | $5.27 | ||
| Q2 25 | $-5.44 | $5.05 | ||
| Q1 25 | $-0.49 | $5.24 | ||
| Q4 24 | $-0.25 | $5.14 | ||
| Q3 24 | $-0.49 | $4.63 | ||
| Q2 24 | $0.17 | $4.98 | ||
| Q1 24 | $-0.02 | $4.97 |
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 | $144.8M |
| 总债务越低越好 | $758.1M | — |
| 股东权益账面价值 | $316.6M | $1.5B |
| 总资产 | $1.8B | $1.6B |
| 负债/权益比越低杠杆越低 | 2.39× | — |
8季度趋势，按日历期对齐
| Q4 25 | $75.4M | $144.8M | ||
| Q3 25 | $77.0M | $531.8M | ||
| Q2 25 | $70.7M | $543.9M | ||
| Q1 25 | $129.9M | $460.4M | ||
| Q4 24 | $125.2M | $369.8M | ||
| Q3 24 | $136.1M | $533.9M | ||
| Q2 24 | $114.1M | $894.7M | ||
| Q1 24 | $54.6M | $837.1M |
| 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 | — |
| Q4 25 | $316.6M | $1.5B | ||
| Q3 25 | $338.2M | $1.4B | ||
| Q2 25 | $342.3M | $1.3B | ||
| Q1 25 | $688.1M | $1.2B | ||
| Q4 24 | $713.9M | $1.1B | ||
| Q3 24 | $732.7M | $1.1B | ||
| Q2 24 | $755.1M | $1.2B | ||
| Q1 24 | $741.8M | $1.1B |
| Q4 25 | $1.8B | $1.6B | ||
| Q3 25 | $1.8B | $1.5B | ||
| Q2 25 | $1.8B | $1.4B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $2.1B | $1.2B | ||
| Q3 24 | $2.2B | $1.2B | ||
| Q2 24 | $2.2B | $1.3B | ||
| Q1 24 | $2.1B | $1.3B |
| 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 | $113.7M |
| 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 | — | 0.92× |
| 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
| Q4 25 | $32.3M | $113.7M | ||
| Q3 25 | $-17.8M | $154.6M | ||
| Q2 25 | $-30.2M | $120.9M | ||
| Q1 25 | $39.6M | $156.7M | ||
| Q4 24 | $54.9M | $126.6M | ||
| Q3 24 | $49.8M | $118.6M | ||
| Q2 24 | $87.6M | $98.3M | ||
| Q1 24 | $11.3M | $147.2M |
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 1.28× | ||
| Q2 25 | — | 1.04× | ||
| Q1 25 | — | 1.30× | ||
| Q4 24 | — | 1.07× | ||
| Q3 24 | — | 1.11× | ||
| Q2 24 | 7.69× | 0.86× | ||
| Q1 24 | — | 1.29× |
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% |
TPL
| Water Serviceand Operations Segment | $98.2M | 46% |
| Water Sales And Royalties | $60.7M | 29% |
| Produced Water Royalties | $33.5M | 16% |
| Easementand Sundry | $20.6M | 10% |
