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印度钢铁管理局（SAIL）与SSR MINING INC.（SSRM）财务数据对比。点击上方公司名可切换其他公司
SSR MINING INC.的季度营收约是印度钢铁管理局的1.9倍（$521.7M vs $281.9M），SSR MINING INC.净利率更高（34.8% vs -12.8%，领先47.5%），SSR MINING INC.同比增速更快（61.4% vs 6.7%），SSR MINING INC.自由现金流更多（$106.4M vs $52.5M）
印度钢铁管理局（SAIL）是总部位于新德里的印度公营钢铁制造企业，属印度最高级别的“马哈拉特纳”中央公共部门企业，是印度最大的国有钢铁生产商，年钢铁产量达1829万吨，1973年1月24日成立，现有员工5.1万余名，由印度钢铁部行政管理。
SSR Mining Inc.（前身为白银标准资源公司）总部位于美国科罗拉多州丹佛，主营金、银、铜、铅、锌矿产开采，拥有阿根廷最大的银矿，同时在美洲全境及土耳其开展矿产勘探业务。2020年与阿拉瑟黄金合并后迁至丹佛，现任总裁兼首席执行官为罗德尼·P·安塔尔。
SAIL vs SSRM — 直观对比
营收规模更大
SSRM
是对方的1.9倍
$281.9M
营收增速更快
SSRM
高出54.8%
6.7%
净利率更高
SSRM
高出47.5%
-12.8%
自由现金流更多
SSRM
多$53.8M
$52.5M
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $281.9M | $521.7M |
| 净利润 | $-36.0M | $181.5M |
| 毛利率 | 66.3% | — |
| 营业利润率 | -14.8% | 38.8% |
| 净利率 | -12.8% | 34.8% |
| 营收同比 | 6.7% | 61.4% |
| 净利润同比 | -240.9% | 3166.6% |
| 每股收益（稀释后） | $-0.06 | $0.84 |
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SAILSSRM
| Q4 25 | $281.9M | $521.7M | ||
| Q3 25 | $264.4M | $385.8M | ||
| Q2 25 | $230.5M | $405.5M | ||
| Q1 25 | $240.1M | $316.6M | ||
| Q4 24 | — | $323.2M | ||
| Q3 24 | $198.6M | $257.4M | ||
| Q2 24 | $187.7M | $184.8M | ||
| Q1 24 | — | $230.2M |
净利润SAILSSRM
| Q4 25 | $-36.0M | $181.5M | ||
| Q3 25 | $-10.6M | $65.4M | ||
| Q2 25 | $-187.3M | $90.1M | ||
| Q1 25 | $-80.1M | $58.8M | ||
| Q4 24 | — | $5.6M | ||
| Q3 24 | $-87.1M | $10.6M | ||
| Q2 24 | $-89.2M | $9.7M | ||
| Q1 24 | — | $-287.1M |
毛利率SAILSSRM
| Q4 25 | 66.3% | — | ||
| Q3 25 | 67.3% | — | ||
| Q2 25 | 55.4% | — | ||
| Q1 25 | 66.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 62.1% | — | ||
| Q2 24 | 61.5% | — | ||
| Q1 24 | — | — |
营业利润率SAILSSRM
| Q4 25 | -14.8% | 38.8% | ||
| Q3 25 | -15.4% | 21.6% | ||
| Q2 25 | -80.3% | 26.9% | ||
| Q1 25 | -12.6% | 21.1% | ||
| Q4 24 | — | 10.6% | ||
| Q3 24 | -33.2% | 3.5% | ||
| Q2 24 | -36.3% | 5.8% | ||
| Q1 24 | — | -163.5% |
净利率SAILSSRM
| Q4 25 | -12.8% | 34.8% | ||
| Q3 25 | -4.0% | 17.0% | ||
| Q2 25 | -81.3% | 22.2% | ||
| Q1 25 | -33.4% | 18.6% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | -43.9% | 4.1% | ||
| Q2 24 | -47.5% | 5.2% | ||
| Q1 24 | — | -124.7% |
每股收益（稀释后）SAILSSRM
| Q4 25 | $-0.06 | $0.84 | ||
| Q3 25 | $-0.02 | $0.31 | ||
| Q2 25 | $-0.42 | $0.42 | ||
| Q1 25 | $-6.50 | $0.28 | ||
| Q4 24 | — | $0.03 | ||
| Q3 24 | $-2.97 | $0.05 | ||
| Q2 24 | $-0.77 | $0.05 | ||
| Q1 24 | — | $-1.42 |
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 | $298.1M | $575.6M |
| 总债务越低越好 | $0 | — |
| 股东权益账面价值 | $6.8B | $3.5B |
| 总资产 | $7.5B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.00× | — |
8季度趋势，按日历期对齐
现金及短期投资SAILSSRM
| Q4 25 | $298.1M | $575.6M | ||
| Q3 25 | $271.1M | $445.4M | ||
| Q2 25 | $228.1M | $438.5M | ||
| Q1 25 | $121.3M | $341.3M | ||
| Q4 24 | — | $417.3M | ||
| Q3 24 | $89.7M | $365.8M | ||
| Q2 24 | $146.8M | $384.4M | ||
| Q1 24 | — | $492.0M |
总债务SAILSSRM
| Q4 25 | $0 | — | ||
| Q3 25 | $0 | — | ||
| Q2 25 | $0 | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | — | $228.6M | ||
| Q3 24 | — | $228.3M | ||
| Q2 24 | — | $228.0M | ||
| Q1 24 | — | $228.7M |
股东权益SAILSSRM
| Q4 25 | $6.8B | $3.5B | ||
| Q3 25 | $6.8B | $3.3B | ||
| Q2 25 | $6.8B | $3.3B | ||
| Q1 25 | $-5.6B | $3.2B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | $-701.3M | $3.1B | ||
| Q2 24 | $-622.5M | $3.1B | ||
| Q1 24 | — | $3.1B |
总资产SAILSSRM
| Q4 25 | $7.5B | $6.1B | ||
| Q3 25 | $7.4B | $5.9B | ||
| Q2 25 | $7.4B | $5.8B | ||
| Q1 25 | $7.4B | $5.6B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | — | $5.1B | ||
| Q2 24 | — | $5.2B | ||
| Q1 24 | — | $5.3B |
负债/权益比SAILSSRM
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.07× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.07× | ||
| Q1 24 | — | 0.07× |
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 | $53.6M | $172.1M |
| 自由现金流经营现金流 - 资本支出 | $52.5M | $106.4M |
| 自由现金流率自由现金流/营收 | 18.6% | 20.4% |
| 资本支出强度资本支出/营收 | 0.4% | 12.6% |
| 现金转化率经营现金流/净利润 | — | 0.95× |
| 过去12个月自由现金流最近4个季度 | — | $241.6M |
8季度趋势，按日历期对齐
经营现金流SAILSSRM
| Q4 25 | $53.6M | $172.1M | ||
| Q3 25 | $49.9M | $57.2M | ||
| Q2 25 | $-96.8M | $157.8M | ||
| Q1 25 | — | $84.8M | ||
| Q4 24 | — | $95.0M | ||
| Q3 24 | — | $-1.3M | ||
| Q2 24 | $-55.4M | $-78.1M | ||
| Q1 24 | — | $24.6M |
自由现金流SAILSSRM
| Q4 25 | $52.5M | $106.4M | ||
| Q3 25 | $49.0M | $-2.4M | ||
| Q2 25 | $-99.0M | $98.4M | ||
| Q1 25 | — | $39.3M | ||
| Q4 24 | — | $56.4M | ||
| Q3 24 | — | $-34.1M | ||
| Q2 24 | $-56.0M | $-116.3M | ||
| Q1 24 | — | $-9.4M |
自由现金流率SAILSSRM
| Q4 25 | 18.6% | 20.4% | ||
| Q3 25 | 18.5% | -0.6% | ||
| Q2 25 | -43.0% | 24.3% | ||
| Q1 25 | — | 12.4% | ||
| Q4 24 | — | 17.5% | ||
| Q3 24 | — | -13.2% | ||
| Q2 24 | -29.8% | -62.9% | ||
| Q1 24 | — | -4.1% |
资本支出强度SAILSSRM
| Q4 25 | 0.4% | 12.6% | ||
| Q3 25 | 0.4% | 15.4% | ||
| Q2 25 | 1.0% | 14.7% | ||
| Q1 25 | — | 14.4% | ||
| Q4 24 | — | 11.9% | ||
| Q3 24 | — | 12.7% | ||
| Q2 24 | 0.3% | 20.7% | ||
| Q1 24 | — | 14.8% |
现金转化率SAILSSRM
| Q4 25 | — | 0.95× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 1.44× | ||
| Q4 24 | — | 17.10× | ||
| Q3 24 | — | -0.13× | ||
| Q2 24 | — | -8.06× | ||
| 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
SAIL
| Software As A Service Saa S | $156.0M | 55% |
| Term Subscriptions Services | $65.1M | 23% |
| Maintenance | $38.0M | 13% |
| Other | $15.7M | 6% |
| Other Subscription Services | $7.1M | 3% |
SSRM
| Gold | $369.3M | 71% |
| Concentrate Sales | $124.4M | 24% |
| Other | $19.1M | 4% |
| Lead | $9.0M | 2% |
