vs
高德纳（IT）与先锋自然资源公司（PR）财务数据对比。点击上方公司名可切换其他公司
高德纳的季度营收约是先锋自然资源公司的1.5倍（$1.8B vs $1.2B），先锋自然资源公司净利率更高（29.0% vs 13.8%，领先15.2%），高德纳同比增速更快（2.2% vs -9.8%），过去两年高德纳的营收复合增速更高（9.1% vs -3.0%）
高德纳是美国专注于商业与科技领域的研究咨询机构，服务客户覆盖大型企业、政府机构、科技公司、投资机构等群体，通过输出研究报告、举办行业峰会、提供定制咨询等形式，为客户决策提供权威专业的洞见支撑。
先锋自然资源公司总部位于美国得克萨斯州欧文市，主要从事油气勘探业务，运营覆盖二叠纪盆地Spraberry产区的克莱恩页岩区块，是该区域最大的土地权益持有方，2024年5月被埃克森美孚收购。
IT vs PR — 直观对比
营收规模更大
IT
是对方的1.5倍
$1.2B
营收增速更快
IT
高出12.0%
-9.8%
净利率更高
PR
高出15.2%
13.8%
两年增速更快
IT
近两年复合增速
-3.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.2B |
| 净利润 | $242.2M | $339.5M |
| 毛利率 | 67.8% | — |
| 营业利润率 | 19.1% | 23.1% |
| 净利率 | 13.8% | 29.0% |
| 营收同比 | 2.2% | -9.8% |
| 净利润同比 | -39.2% | 56.7% |
| 每股收益（稀释后） | $3.36 | $0.48 |
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ITPR
| Q4 25 | $1.8B | $1.2B | ||
| Q3 25 | $1.5B | $1.3B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.5B | $1.4B | ||
| Q4 24 | $1.7B | $1.3B | ||
| Q3 24 | $1.5B | $1.2B | ||
| Q2 24 | $1.6B | $1.2B | ||
| Q1 24 | $1.5B | $1.2B |
净利润ITPR
| Q4 25 | $242.2M | $339.5M | ||
| Q3 25 | $35.4M | $59.2M | ||
| Q2 25 | $240.8M | $207.1M | ||
| Q1 25 | $210.9M | $329.3M | ||
| Q4 24 | $398.6M | $216.7M | ||
| Q3 24 | $415.0M | $386.4M | ||
| Q2 24 | $229.5M | $235.1M | ||
| Q1 24 | $210.5M | $146.6M |
毛利率ITPR
| Q4 25 | 67.8% | — | ||
| Q3 25 | 69.3% | — | ||
| Q2 25 | 68.6% | — | ||
| Q1 25 | 69.4% | — | ||
| Q4 24 | 66.8% | — | ||
| Q3 24 | 68.4% | — | ||
| Q2 24 | 68.6% | — | ||
| Q1 24 | 69.4% | — |
营业利润率ITPR
| Q4 25 | 19.1% | 23.1% | ||
| Q3 25 | 5.7% | 29.6% | ||
| Q2 25 | 19.4% | 24.8% | ||
| Q1 25 | 18.1% | 36.6% | ||
| Q4 24 | 18.5% | 32.8% | ||
| Q3 24 | 16.6% | 32.5% | ||
| Q2 24 | 20.0% | 36.5% | ||
| Q1 24 | 18.6% | 37.7% |
净利率ITPR
| Q4 25 | 13.8% | 29.0% | ||
| Q3 25 | 2.3% | 4.5% | ||
| Q2 25 | 14.3% | 17.3% | ||
| Q1 25 | 13.7% | 23.9% | ||
| Q4 24 | 23.2% | 16.7% | ||
| Q3 24 | 28.0% | 31.8% | ||
| Q2 24 | 14.4% | 18.9% | ||
| Q1 24 | 14.3% | 11.8% |
每股收益（稀释后）ITPR
| Q4 25 | $3.36 | $0.48 | ||
| Q3 25 | $0.47 | $0.08 | ||
| Q2 25 | $3.11 | $0.28 | ||
| Q1 25 | $2.71 | $0.44 | ||
| Q4 24 | $5.08 | $0.31 | ||
| Q3 24 | $5.32 | $0.53 | ||
| Q2 24 | $2.93 | $0.36 | ||
| Q1 24 | $2.67 | $0.25 |
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 | $1.7B | $153.7M |
| 总债务越低越好 | — | $3.5B |
| 股东权益账面价值 | $319.9M | $10.3B |
| 总资产 | $8.1B | $17.9B |
| 负债/权益比越低杠杆越低 | — | 0.34× |
8季度趋势，按日历期对齐
现金及短期投资ITPR
| Q4 25 | $1.7B | $153.7M | ||
| Q3 25 | $1.4B | $111.8M | ||
| Q2 25 | $2.2B | $451.0M | ||
| Q1 25 | $2.1B | $702.2M | ||
| Q4 24 | $1.9B | $479.3M | ||
| Q3 24 | $1.8B | $272.0M | ||
| Q2 24 | $1.2B | $47.8M | ||
| Q1 24 | $1.2B | $12.7M |
总债务ITPR
| Q4 25 | — | $3.5B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.0B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | — | $3.9B |
股东权益ITPR
| Q4 25 | $319.9M | $10.3B | ||
| Q3 25 | $556.6M | $10.0B | ||
| Q2 25 | $1.5B | $9.5B | ||
| Q1 25 | $1.5B | $9.4B | ||
| Q4 24 | $1.4B | $9.1B | ||
| Q3 24 | $1.1B | $9.0B | ||
| Q2 24 | $646.7M | $8.3B | ||
| Q1 24 | $718.2M | $7.0B |
总资产ITPR
| Q4 25 | $8.1B | $17.9B | ||
| Q3 25 | $7.2B | $17.3B | ||
| Q2 25 | $8.3B | $17.5B | ||
| Q1 25 | $8.5B | $17.1B | ||
| Q4 24 | $8.5B | $16.9B | ||
| Q3 24 | $7.8B | $16.6B | ||
| Q2 24 | $7.4B | $15.4B | ||
| Q1 24 | $7.7B | $15.1B |
负债/权益比ITPR
| Q4 25 | — | 0.34× | ||
| Q3 25 | — | 0.35× | ||
| Q2 25 | — | 0.42× | ||
| Q1 25 | — | 0.43× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.46× | ||
| Q1 24 | — | 0.56× |
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 | $294.5M | $904.3M |
| 自由现金流经营现金流 - 资本支出 | $270.7M | — |
| 自由现金流率自由现金流/营收 | 15.4% | — |
| 资本支出强度资本支出/营收 | 1.4% | — |
| 现金转化率经营现金流/净利润 | 1.22× | 2.66× |
| 过去12个月自由现金流最近4个季度 | $1.2B | — |
8季度趋势，按日历期对齐
经营现金流ITPR
| Q4 25 | $294.5M | $904.3M | ||
| Q3 25 | $298.7M | $766.5M | ||
| Q2 25 | $383.6M | $1.0B | ||
| Q1 25 | $313.5M | $898.0M | ||
| Q4 24 | $335.4M | $871.6M | ||
| Q3 24 | $590.8M | $954.4M | ||
| Q2 24 | $370.0M | $938.4M | ||
| Q1 24 | $188.8M | $647.6M |
自由现金流ITPR
| Q4 25 | $270.7M | — | ||
| Q3 25 | $269.3M | — | ||
| Q2 25 | $347.3M | — | ||
| Q1 25 | $287.9M | — | ||
| Q4 24 | $311.4M | — | ||
| Q3 24 | $565.0M | — | ||
| Q2 24 | $340.6M | — | ||
| Q1 24 | $166.2M | — |
自由现金流率ITPR
| Q4 25 | 15.4% | — | ||
| Q3 25 | 17.7% | — | ||
| Q2 25 | 20.6% | — | ||
| Q1 25 | 18.8% | — | ||
| Q4 24 | 18.2% | — | ||
| Q3 24 | 38.1% | — | ||
| Q2 24 | 21.4% | — | ||
| Q1 24 | 11.3% | — |
资本支出强度ITPR
| Q4 25 | 1.4% | — | ||
| Q3 25 | 1.9% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 1.8% | — | ||
| Q1 24 | 1.5% | — |
现金转化率ITPR
| Q4 25 | 1.22× | 2.66× | ||
| Q3 25 | 8.45× | 12.94× | ||
| Q2 25 | 1.59× | 5.01× | ||
| Q1 25 | 1.49× | 2.73× | ||
| Q4 24 | 0.84× | 4.02× | ||
| Q3 24 | 1.42× | 2.47× | ||
| Q2 24 | 1.61× | 3.99× | ||
| Q1 24 | 0.90× | 4.42× |
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
IT
| Transferred Over Time | $1.3B | 73% |
| Conferences | $286.2M | 16% |
| Consulting | $133.6M | 8% |
| Other | $52.3M | 3% |
PR
| Crude Oil | $1.0B | 87% |
| Natural Gas Liquids Reserves | $145.1M | 12% |
