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SSR MINING INC.（SSRM）与Worthington Steel, Inc.（WS）财务数据对比。点击上方公司名可切换其他公司
Worthington Steel, Inc.的季度营收约是SSR MINING INC.的1.7倍（$871.9M vs $521.7M），SSR MINING INC.净利率更高（34.8% vs 2.2%，领先32.6%），SSR MINING INC.同比增速更快（61.4% vs 18.0%），SSR MINING INC.自由现金流更多（$106.4M vs $74.6M），过去两年SSR MINING INC.的营收复合增速更高（50.5% vs 3.9%）
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。
沃辛顿钢铁是总部位于美国俄亥俄州哥伦布市的工业制造企业，下设消费品和建筑建材两大业务板块，主营各类压力容器的设计与生产，覆盖丙烷、氧气、氦气储罐，制冷剂及工业气瓶，露营与民用气瓶，以及用于存储、处理、加热、扩容和流量控制的供水系统罐体等产品。
SSRM vs WS — 直观对比
营收规模更大
WS
是对方的1.7倍
$521.7M
营收增速更快
SSRM
高出43.4%
18.0%
净利率更高
SSRM
高出32.6%
2.2%
自由现金流更多
SSRM
多$31.8M
$74.6M
两年增速更快
SSRM
近两年复合增速
3.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $521.7M | $871.9M |
| 净利润 | $181.5M | $18.8M |
| 毛利率 | — | 10.7% |
| 营业利润率 | 38.8% | 2.5% |
| 净利率 | 34.8% | 2.2% |
| 营收同比 | 61.4% | 18.0% |
| 净利润同比 | 3166.6% | 46.9% |
| 每股收益（稀释后） | $0.84 | $0.37 |
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SSRMWS
| Q4 25 | $521.7M | $871.9M | ||
| Q3 25 | $385.8M | $872.9M | ||
| Q2 25 | $405.5M | $832.9M | ||
| Q1 25 | $316.6M | $687.4M | ||
| Q4 24 | $323.2M | $739.0M | ||
| Q3 24 | $257.4M | $834.0M | ||
| Q2 24 | $184.8M | — | ||
| Q1 24 | $230.2M | $805.8M |
净利润SSRMWS
| Q4 25 | $181.5M | $18.8M | ||
| Q3 25 | $65.4M | $36.8M | ||
| Q2 25 | $90.1M | $55.7M | ||
| Q1 25 | $58.8M | $13.8M | ||
| Q4 24 | $5.6M | $12.8M | ||
| Q3 24 | $10.6M | $28.4M | ||
| Q2 24 | $9.7M | — | ||
| Q1 24 | $-287.1M | $49.0M |
毛利率SSRMWS
| Q4 25 | — | 10.7% | ||
| Q3 25 | — | 13.2% | ||
| Q2 25 | — | 15.2% | ||
| Q1 25 | — | 11.8% | ||
| Q4 24 | — | 10.8% | ||
| Q3 24 | — | 12.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 14.9% |
营业利润率SSRMWS
| Q4 25 | 38.8% | 2.5% | ||
| Q3 25 | 21.6% | 5.5% | ||
| Q2 25 | 26.9% | 8.0% | ||
| Q1 25 | 21.1% | 2.7% | ||
| Q4 24 | 10.6% | 2.6% | ||
| Q3 24 | 3.5% | 5.2% | ||
| Q2 24 | 5.8% | — | ||
| Q1 24 | -163.5% | 8.2% |
净利率SSRMWS
| Q4 25 | 34.8% | 2.2% | ||
| Q3 25 | 17.0% | 4.2% | ||
| Q2 25 | 22.2% | 6.7% | ||
| Q1 25 | 18.6% | 2.0% | ||
| Q4 24 | 1.7% | 1.7% | ||
| Q3 24 | 4.1% | 3.4% | ||
| Q2 24 | 5.2% | — | ||
| Q1 24 | -124.7% | 6.1% |
每股收益（稀释后）SSRMWS
| Q4 25 | $0.84 | $0.37 | ||
| Q3 25 | $0.31 | $0.72 | ||
| Q2 25 | $0.42 | $1.11 | ||
| Q1 25 | $0.28 | $0.27 | ||
| Q4 24 | $0.03 | $0.25 | ||
| Q3 24 | $0.05 | $0.56 | ||
| Q2 24 | $0.05 | — | ||
| Q1 24 | $-1.42 | $0.98 |
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 | $575.6M | $89.8M |
| 总债务越低越好 | — | $72.1M |
| 股东权益账面价值 | $3.5B | $1.1B |
| 总资产 | $6.1B | $2.1B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资SSRMWS
| Q4 25 | $575.6M | $89.8M | ||
| Q3 25 | $445.4M | $78.3M | ||
| Q2 25 | $438.5M | $38.0M | ||
| Q1 25 | $341.3M | $63.3M | ||
| Q4 24 | $417.3M | $52.0M | ||
| Q3 24 | $365.8M | $36.0M | ||
| Q2 24 | $384.4M | — | ||
| Q1 24 | $492.0M | $60.8M |
总债务SSRMWS
| Q4 25 | — | $72.1M | ||
| Q3 25 | — | $73.4M | ||
| Q2 25 | — | $151.5M | ||
| Q1 25 | — | — | ||
| Q4 24 | $228.6M | $115.0M | ||
| Q3 24 | $228.3M | $122.2M | ||
| Q2 24 | $228.0M | — | ||
| Q1 24 | $228.7M | $147.2M |
股东权益SSRMWS
| Q4 25 | $3.5B | $1.1B | ||
| Q3 25 | $3.3B | $1.1B | ||
| Q2 25 | $3.3B | $1.1B | ||
| Q1 25 | $3.2B | $1.0B | ||
| Q4 24 | $3.1B | $1.0B | ||
| Q3 24 | $3.1B | $1.0B | ||
| Q2 24 | $3.1B | — | ||
| Q1 24 | $3.1B | $937.6M |
总资产SSRMWS
| Q4 25 | $6.1B | $2.1B | ||
| Q3 25 | $5.9B | $2.2B | ||
| Q2 25 | $5.8B | $2.0B | ||
| Q1 25 | $5.6B | $1.8B | ||
| Q4 24 | $5.2B | $1.7B | ||
| Q3 24 | $5.1B | $1.8B | ||
| Q2 24 | $5.2B | — | ||
| Q1 24 | $5.3B | $1.8B |
负债/权益比SSRMWS
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.14× | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.07× | 0.11× | ||
| Q3 24 | 0.07× | 0.12× | ||
| Q2 24 | 0.07× | — | ||
| Q1 24 | 0.07× | 0.16× |
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 | $172.1M | $99.3M |
| 自由现金流经营现金流 - 资本支出 | $106.4M | $74.6M |
| 自由现金流率自由现金流/营收 | 20.4% | 8.6% |
| 资本支出强度资本支出/营收 | 12.6% | 2.8% |
| 现金转化率经营现金流/净利润 | 0.95× | 5.28× |
| 过去12个月自由现金流最近4个季度 | $241.6M | $72.5M |
8季度趋势，按日历期对齐
经营现金流SSRMWS
| Q4 25 | $172.1M | $99.3M | ||
| Q3 25 | $57.2M | $-6.3M | ||
| Q2 25 | $157.8M | $53.9M | ||
| Q1 25 | $84.8M | $53.8M | ||
| Q4 24 | $95.0M | $68.0M | ||
| Q3 24 | $-1.3M | $54.6M | ||
| Q2 24 | $-78.1M | — | ||
| Q1 24 | $24.6M | $44.7M |
自由现金流SSRMWS
| Q4 25 | $106.4M | $74.6M | ||
| Q3 25 | $-2.4M | $-35.7M | ||
| Q2 25 | $98.4M | $8.4M | ||
| Q1 25 | $39.3M | $25.2M | ||
| Q4 24 | $56.4M | $33.2M | ||
| Q3 24 | $-34.1M | $33.1M | ||
| Q2 24 | $-116.3M | — | ||
| Q1 24 | $-9.4M | $22.3M |
自由现金流率SSRMWS
| Q4 25 | 20.4% | 8.6% | ||
| Q3 25 | -0.6% | -4.1% | ||
| Q2 25 | 24.3% | 1.0% | ||
| Q1 25 | 12.4% | 3.7% | ||
| Q4 24 | 17.5% | 4.5% | ||
| Q3 24 | -13.2% | 4.0% | ||
| Q2 24 | -62.9% | — | ||
| Q1 24 | -4.1% | 2.8% |
资本支出强度SSRMWS
| Q4 25 | 12.6% | 2.8% | ||
| Q3 25 | 15.4% | 3.4% | ||
| Q2 25 | 14.7% | 5.5% | ||
| Q1 25 | 14.4% | 4.2% | ||
| Q4 24 | 11.9% | 4.7% | ||
| Q3 24 | 12.7% | 2.6% | ||
| Q2 24 | 20.7% | — | ||
| Q1 24 | 14.8% | 2.8% |
现金转化率SSRMWS
| Q4 25 | 0.95× | 5.28× | ||
| Q3 25 | 0.87× | -0.17× | ||
| Q2 25 | 1.75× | 0.97× | ||
| Q1 25 | 1.44× | 3.90× | ||
| Q4 24 | 17.10× | 5.31× | ||
| Q3 24 | -0.13× | 1.92× | ||
| Q2 24 | -8.06× | — | ||
| Q1 24 | — | 0.91× |
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
SSRM
| Gold | $369.3M | 71% |
| Concentrate Sales | $124.4M | 24% |
| Other | $19.1M | 4% |
| Lead | $9.0M | 2% |
WS
| Direct | $844.1M | 97% |
| Toll | $27.8M | 3% |
