vs
Expand Energy（EXE）与北极星（PII）财务数据对比。点击上方公司名可切换其他公司
Expand Energy的季度营收约是北极星的2.0倍（$3.3B vs $1.7B），Expand Energy净利率更高（16.9% vs -2.8%，领先19.7%），Expand Energy同比增速更快（63.5% vs 8.0%），Expand Energy自由现金流更多（$215.0M vs $-342.5M），过去两年Expand Energy的营收复合增速更高（29.6% vs -8.0%）
Expand Energy是按净日产量统计的美国最大独立天然气生产商，总部位于俄克拉荷马城，运营范围覆盖宾夕法尼亚州、西弗吉尼亚州境内马塞勒斯地层的阿巴拉契亚盆地，以及路易斯安那州西北部的海恩斯维尔页岩区块。
北极星公司（Polaris Inc.）是总部位于美国明尼苏达州麦地那的机动车制造企业，创立于明尼苏达州罗索，当地目前仍保留其工程研发与生产设施。公司曾通过胜利摩托子公司生产摩托车，2011年收购印第安摩托品牌后转由该子公司运营摩托业务，此前还曾生产私人水上摩托艇产品。
EXE vs PII — 直观对比
营收规模更大
EXE
是对方的2.0倍
$1.7B
营收增速更快
EXE
高出55.5%
8.0%
净利率更高
EXE
高出19.7%
-2.8%
自由现金流更多
EXE
多$557.5M
$-342.5M
两年增速更快
EXE
近两年复合增速
-8.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $1.7B |
| 净利润 | $553.0M | $-47.2M |
| 毛利率 | — | 20.2% |
| 营业利润率 | 22.8% | 76.5% |
| 净利率 | 16.9% | -2.8% |
| 营收同比 | 63.5% | 8.0% |
| 净利润同比 | 238.6% | 29.0% |
| 每股收益（稀释后） | $2.33 | $-0.83 |
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EXEPII
| Q1 26 | — | $1.7B | ||
| Q4 25 | $3.3B | $1.9B | ||
| Q3 25 | $3.0B | $1.8B | ||
| Q2 25 | $3.7B | $1.9B | ||
| Q1 25 | $2.2B | $1.5B | ||
| Q4 24 | $2.0B | $1.8B | ||
| Q3 24 | $648.0M | $1.7B | ||
| Q2 24 | — | $2.0B |
净利润EXEPII
| Q1 26 | — | $-47.2M | ||
| Q4 25 | $553.0M | $-303.6M | ||
| Q3 25 | $547.0M | $-15.8M | ||
| Q2 25 | $968.0M | $-79.3M | ||
| Q1 25 | $-249.0M | $-66.8M | ||
| Q4 24 | $-399.0M | $10.6M | ||
| Q3 24 | $-114.0M | $27.7M | ||
| Q2 24 | — | $68.7M |
毛利率EXEPII
| Q1 26 | — | 20.2% | ||
| Q4 25 | — | 20.0% | ||
| Q3 25 | — | 20.7% | ||
| Q2 25 | — | 19.4% | ||
| Q1 25 | — | 16.0% | ||
| Q4 24 | — | 20.4% | ||
| Q3 24 | — | 20.6% | ||
| Q2 24 | — | 21.6% |
营业利润率EXEPII
| Q1 26 | — | 76.5% | ||
| Q4 25 | 22.8% | -16.7% | ||
| Q3 25 | 24.4% | 1.1% | ||
| Q2 25 | 34.4% | -0.7% | ||
| Q1 25 | -12.2% | -2.4% | ||
| Q4 24 | -19.3% | 3.7% | ||
| Q3 24 | -23.9% | 3.8% | ||
| Q2 24 | — | 6.1% |
净利率EXEPII
| Q1 26 | — | -2.8% | ||
| Q4 25 | 16.9% | -15.8% | ||
| Q3 25 | 18.4% | -0.9% | ||
| Q2 25 | 26.2% | -4.3% | ||
| Q1 25 | -11.3% | -4.3% | ||
| Q4 24 | -19.9% | 0.6% | ||
| Q3 24 | -17.6% | 1.6% | ||
| Q2 24 | — | 3.5% |
每股收益（稀释后）EXEPII
| Q1 26 | — | $-0.83 | ||
| Q4 25 | $2.33 | $-5.34 | ||
| Q3 25 | $2.28 | $-0.28 | ||
| Q2 25 | $4.02 | $-1.39 | ||
| Q1 25 | $-1.06 | $-1.17 | ||
| Q4 24 | $-2.15 | $0.18 | ||
| Q3 24 | $-0.85 | $0.49 | ||
| Q2 24 | — | $1.21 |
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 | $616.0M | $282.0M |
| 总债务越低越好 | $5.0B | — |
| 股东权益账面价值 | $18.6B | $750.4M |
| 总资产 | $28.3B | $5.2B |
| 负债/权益比越低杠杆越低 | 0.27× | — |
8季度趋势，按日历期对齐
现金及短期投资EXEPII
| Q1 26 | — | $282.0M | ||
| Q4 25 | $616.0M | $138.0M | ||
| Q3 25 | $613.0M | $335.5M | ||
| Q2 25 | $731.0M | $324.3M | ||
| Q1 25 | $349.0M | $291.7M | ||
| Q4 24 | $317.0M | $287.8M | ||
| Q3 24 | $1.0B | $291.3M | ||
| Q2 24 | — | $322.7M |
总债务EXEPII
| Q1 26 | — | — | ||
| Q4 25 | $5.0B | $1.5B | ||
| Q3 25 | $5.0B | $1.3B | ||
| Q2 25 | $5.1B | $1.4B | ||
| Q1 25 | $5.2B | $1.6B | ||
| Q4 24 | $5.7B | $1.6B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $2.1B |
股东权益EXEPII
| Q1 26 | — | $750.4M | ||
| Q4 25 | $18.6B | $828.4M | ||
| Q3 25 | $18.1B | $1.1B | ||
| Q2 25 | $17.9B | $1.2B | ||
| Q1 25 | $17.2B | $1.2B | ||
| Q4 24 | $17.6B | $1.3B | ||
| Q3 24 | $10.2B | $1.3B | ||
| Q2 24 | — | $1.3B |
总资产EXEPII
| Q1 26 | — | $5.2B | ||
| Q4 25 | $28.3B | $4.9B | ||
| Q3 25 | $27.6B | $5.3B | ||
| Q2 25 | $27.8B | $5.4B | ||
| Q1 25 | $27.9B | $5.5B | ||
| Q4 24 | $27.9B | $5.5B | ||
| Q3 24 | $13.4B | $5.6B | ||
| Q2 24 | — | $5.7B |
负债/权益比EXEPII
| Q1 26 | — | — | ||
| Q4 25 | 0.27× | 1.82× | ||
| Q3 25 | 0.28× | 1.13× | ||
| Q2 25 | 0.29× | 1.17× | ||
| Q1 25 | 0.30× | 1.32× | ||
| Q4 24 | 0.32× | 1.27× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 1.56× |
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 | $956.0M | — |
| 自由现金流经营现金流 - 资本支出 | $215.0M | $-342.5M |
| 自由现金流率自由现金流/营收 | 6.6% | -20.6% |
| 资本支出强度资本支出/营收 | 22.6% | — |
| 现金转化率经营现金流/净利润 | 1.73× | — |
| 过去12个月自由现金流最近4个季度 | $1.8B | $168.0M |
8季度趋势，按日历期对齐
经营现金流EXEPII
| Q1 26 | — | — | ||
| Q4 25 | $956.0M | $178.7M | ||
| Q3 25 | $1.2B | $158.8M | ||
| Q2 25 | $1.3B | $320.3M | ||
| Q1 25 | $1.1B | $83.2M | ||
| Q4 24 | $382.0M | $206.3M | ||
| Q3 24 | $422.0M | $21.0M | ||
| Q2 24 | — | $146.3M |
自由现金流EXEPII
| Q1 26 | — | $-342.5M | ||
| Q4 25 | $215.0M | $114.0M | ||
| Q3 25 | $426.0M | $116.7M | ||
| Q2 25 | $665.0M | $279.8M | ||
| Q1 25 | $533.0M | $47.6M | ||
| Q4 24 | $-154.0M | $137.3M | ||
| Q3 24 | $124.0M | $-32.4M | ||
| Q2 24 | — | $79.1M |
自由现金流率EXEPII
| Q1 26 | — | -20.6% | ||
| Q4 25 | 6.6% | 5.9% | ||
| Q3 25 | 14.4% | 6.3% | ||
| Q2 25 | 18.0% | 15.1% | ||
| Q1 25 | 24.3% | 3.1% | ||
| Q4 24 | -7.7% | 7.8% | ||
| Q3 24 | 19.1% | -1.9% | ||
| Q2 24 | — | 4.0% |
资本支出强度EXEPII
| Q1 26 | — | — | ||
| Q4 25 | 22.6% | 3.4% | ||
| Q3 25 | 26.1% | 2.3% | ||
| Q2 25 | 17.8% | 2.2% | ||
| Q1 25 | 25.6% | 2.3% | ||
| Q4 24 | 26.8% | 3.9% | ||
| Q3 24 | 46.0% | 3.1% | ||
| Q2 24 | — | 3.4% |
现金转化率EXEPII
| Q1 26 | — | — | ||
| Q4 25 | 1.73× | — | ||
| Q3 25 | 2.20× | — | ||
| Q2 25 | 1.37× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 19.46× | ||
| Q3 24 | — | 0.76× | ||
| Q2 24 | — | 2.13× |
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
EXE
| Oil And Gas | $2.3B | 70% |
| Natural Gas Marketing Sales | $734.0M | 22% |
| Natural Gas Liquids Sales | $174.0M | 5% |
| Natural Gas Liquids Marketing Sales | $34.0M | 1% |
| Oil Marketing Sales | $31.0M | 1% |
PII
暂无分部数据
