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DNOW Inc.（DNOW）与PAR PACIFIC HOLDINGS, INC.（PARR）财务数据对比。点击上方公司名可切换其他公司
PAR PACIFIC HOLDINGS, INC.的季度营收约是DNOW Inc.的1.9倍（$1.8B vs $959.0M），PAR PACIFIC HOLDINGS, INC.净利率更高（4.3% vs -16.8%，领先21.1%），DNOW Inc.同比增速更快（68.0% vs -1.0%），DNOW Inc.自由现金流更多（$76.0M vs $66.3M），过去两年DNOW Inc.的营收复合增速更高（30.5% vs -4.3%）
DNOW Inc.（商业名称DistributionNOW）是一家全球工业及能源产品分销商，提供供应链管理、库存优化、技术支持服务，主营油气、可再生能源、制造、建筑等领域所需的零部件、设备及耗材，业务覆盖北美、欧洲及亚太地区。
Par Pacific Holdings是总部位于美国休斯顿的油气勘探生产企业，曾在破产重组后以Par Petroleum Corporation为名运营，2015年10月20日正式更名为现名，2017年入选《财富》美国1000强企业。
DNOW vs PARR — 直观对比
营收规模更大
PARR
是对方的1.9倍
$959.0M
营收增速更快
DNOW
高出69.0%
-1.0%
净利率更高
PARR
高出21.1%
-16.8%
自由现金流更多
DNOW
多$9.7M
$66.3M
两年增速更快
DNOW
近两年复合增速
-4.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $959.0M | $1.8B |
| 净利润 | $-161.0M | $77.7M |
| 毛利率 | 5.2% | — |
| 营业利润率 | -19.6% | 5.5% |
| 净利率 | -16.8% | 4.3% |
| 营收同比 | 68.0% | -1.0% |
| 净利润同比 | -905.0% | 239.5% |
| 每股收益（稀释后） | $-1.42 | $1.40 |
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DNOWPARR
| Q4 25 | $959.0M | $1.8B | ||
| Q3 25 | $634.0M | $2.0B | ||
| Q2 25 | $628.0M | $1.9B | ||
| Q1 25 | $599.0M | $1.7B | ||
| Q4 24 | $571.0M | $1.8B | ||
| Q3 24 | $606.0M | $2.1B | ||
| Q2 24 | $633.0M | $2.0B | ||
| Q1 24 | $563.0M | $2.0B |
净利润DNOWPARR
| Q4 25 | $-161.0M | $77.7M | ||
| Q3 25 | $25.0M | $262.6M | ||
| Q2 25 | $25.0M | $59.5M | ||
| Q1 25 | $22.0M | $-30.4M | ||
| Q4 24 | $20.0M | $-55.7M | ||
| Q3 24 | $13.0M | $7.5M | ||
| Q2 24 | $24.0M | $18.6M | ||
| Q1 24 | $21.0M | $-3.8M |
毛利率DNOWPARR
| Q4 25 | 5.2% | — | ||
| Q3 25 | 22.9% | — | ||
| Q2 25 | 22.9% | — | ||
| Q1 25 | 23.2% | — | ||
| Q4 24 | 22.6% | — | ||
| Q3 24 | 22.3% | — | ||
| Q2 24 | 21.8% | — | ||
| Q1 24 | 22.9% | — |
营业利润率DNOWPARR
| Q4 25 | -19.6% | 5.5% | ||
| Q3 25 | 5.2% | 17.8% | ||
| Q2 25 | 5.1% | 5.1% | ||
| Q1 25 | 5.0% | -0.9% | ||
| Q4 24 | 4.4% | -2.6% | ||
| Q3 24 | 3.8% | 1.7% | ||
| Q2 24 | 5.2% | 2.4% | ||
| Q1 24 | 5.0% | 0.5% |
净利率DNOWPARR
| Q4 25 | -16.8% | 4.3% | ||
| Q3 25 | 3.9% | 13.0% | ||
| Q2 25 | 4.0% | 3.1% | ||
| Q1 25 | 3.7% | -1.7% | ||
| Q4 24 | 3.5% | -3.0% | ||
| Q3 24 | 2.1% | 0.3% | ||
| Q2 24 | 3.8% | 0.9% | ||
| Q1 24 | 3.7% | -0.2% |
每股收益（稀释后）DNOWPARR
| Q4 25 | $-1.42 | $1.40 | ||
| Q3 25 | $0.23 | $5.16 | ||
| Q2 25 | $0.23 | $1.17 | ||
| Q1 25 | $0.20 | $-0.57 | ||
| Q4 24 | $0.19 | $-0.98 | ||
| Q3 24 | $0.12 | $0.13 | ||
| Q2 24 | $0.21 | $0.32 | ||
| Q1 24 | $0.19 | $-0.06 |
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 | $164.0M | $164.1M |
| 总债务越低越好 | $411.0M | $802.9M |
| 股东权益账面价值 | $2.2B | $1.5B |
| 总资产 | $3.9B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.18× | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资DNOWPARR
| Q4 25 | $164.0M | $164.1M | ||
| Q3 25 | $266.0M | $159.1M | ||
| Q2 25 | $232.0M | $169.2M | ||
| Q1 25 | $219.0M | $133.7M | ||
| Q4 24 | $256.0M | $191.9M | ||
| Q3 24 | $261.0M | $183.0M | ||
| Q2 24 | $197.0M | $179.7M | ||
| Q1 24 | $188.0M | $228.3M |
总债务DNOWPARR
| Q4 25 | $411.0M | $802.9M | ||
| Q3 25 | — | $967.1M | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $0 | $1.1B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $639.5M |
股东权益DNOWPARR
| Q4 25 | $2.2B | $1.5B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.1B | $1.1B | ||
| Q4 24 | $1.1B | $1.2B | ||
| Q3 24 | $1.1B | $1.3B | ||
| Q2 24 | $1.1B | $1.3B | ||
| Q1 24 | $1.1B | $1.3B |
总资产DNOWPARR
| Q4 25 | $3.9B | $3.8B | ||
| Q3 25 | $1.7B | $4.1B | ||
| Q2 25 | $1.7B | $3.9B | ||
| Q1 25 | $1.7B | $3.8B | ||
| Q4 24 | $1.6B | $3.8B | ||
| Q3 24 | $1.6B | $3.9B | ||
| Q2 24 | $1.6B | $3.9B | ||
| Q1 24 | $1.6B | $3.8B |
负债/权益比DNOWPARR
| Q4 25 | 0.18× | 0.53× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | 1.04× | ||
| Q4 24 | 0.00× | 0.93× | ||
| Q3 24 | — | 0.83× | ||
| Q2 24 | — | 0.84× | ||
| Q1 24 | — | 0.49× |
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 | $83.0M | $93.8M |
| 自由现金流经营现金流 - 资本支出 | $76.0M | $66.3M |
| 自由现金流率自由现金流/营收 | 7.9% | 3.7% |
| 资本支出强度资本支出/营收 | 0.7% | 1.5% |
| 现金转化率经营现金流/净利润 | — | 1.21× |
| 过去12个月自由现金流最近4个季度 | $134.0M | $296.5M |
8季度趋势，按日历期对齐
经营现金流DNOWPARR
| Q4 25 | $83.0M | $93.8M | ||
| Q3 25 | $43.0M | $219.4M | ||
| Q2 25 | $45.0M | $133.6M | ||
| Q1 25 | $-16.0M | $-1.4M | ||
| Q4 24 | $122.0M | $-15.5M | ||
| Q3 24 | $74.0M | $78.5M | ||
| Q2 24 | $21.0M | $-4.7M | ||
| Q1 24 | $81.0M | $25.4M |
自由现金流DNOWPARR
| Q4 25 | $76.0M | $66.3M | ||
| Q3 25 | $39.0M | $187.1M | ||
| Q2 25 | $41.0M | $85.5M | ||
| Q1 25 | $-22.0M | $-42.3M | ||
| Q4 24 | $119.0M | $-63.1M | ||
| Q3 24 | $72.0M | $50.2M | ||
| Q2 24 | $18.0M | $-41.6M | ||
| Q1 24 | $80.0M | $2.8M |
自由现金流率DNOWPARR
| Q4 25 | 7.9% | 3.7% | ||
| Q3 25 | 6.2% | 9.3% | ||
| Q2 25 | 6.5% | 4.5% | ||
| Q1 25 | -3.7% | -2.4% | ||
| Q4 24 | 20.8% | -3.4% | ||
| Q3 24 | 11.9% | 2.3% | ||
| Q2 24 | 2.8% | -2.1% | ||
| Q1 24 | 14.2% | 0.1% |
资本支出强度DNOWPARR
| Q4 25 | 0.7% | 1.5% | ||
| Q3 25 | 0.6% | 1.6% | ||
| Q2 25 | 0.6% | 2.5% | ||
| Q1 25 | 1.0% | 2.3% | ||
| Q4 24 | 0.5% | 2.6% | ||
| Q3 24 | 0.3% | 1.3% | ||
| Q2 24 | 0.5% | 1.8% | ||
| Q1 24 | 0.2% | 1.1% |
现金转化率DNOWPARR
| Q4 25 | — | 1.21× | ||
| Q3 25 | 1.72× | 0.84× | ||
| Q2 25 | 1.80× | 2.25× | ||
| Q1 25 | -0.73× | — | ||
| Q4 24 | 6.10× | — | ||
| Q3 24 | 5.69× | 10.48× | ||
| Q2 24 | 0.88× | -0.25× | ||
| Q1 24 | 3.86× | — |
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
DNOW
| Pipelines | $455.0M | 47% |
| Downstream And Industrial | $196.0M | 20% |
| Gas Utilities | $183.0M | 19% |
| Oil And Gas Properties | $105.0M | 11% |
| Other | $20.0M | 2% |
PARR
| Distillates | $750.6M | 41% |
| Gasoline | $603.9M | 33% |
| Other Refined Products | $348.8M | 19% |
| Logistics | $73.7M | 4% |
| Other Revenues | $44.8M | 2% |
