vs
Realty Income（O）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
Realty Income的季度营收约是先锋自然资源公司的1.3倍（$1.5B vs $1.2B），先锋自然资源公司净利率更高（29.0% vs 19.9%，领先9.1%），Realty Income同比增速更快（11.0% vs -9.8%），过去两年Realty Income的营收复合增速更高（8.6% vs -3.0%）
Realty Income是一家房地产投资信托企业，投资范围覆盖美国、英国及欧洲其他六个国家的独立单租户商业地产，旗下物业普遍采用三重净租约模式。公司注册地为美国马里兰州，总部位于加利福尼亚州圣迭戈市。
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。
O vs PR — 直观对比
营收规模更大
O
是对方的1.3倍
$1.2B
营收增速更快
O
高出20.8%
-9.8%
净利率更高
PR
高出9.1%
19.9%
两年增速更快
O
近两年复合增速
-3.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.2B |
| 净利润 | $296.1M | $339.5M |
| 毛利率 | — | — |
| 营业利润率 | 21.7% | 23.1% |
| 净利率 | 19.9% | 29.0% |
| 营收同比 | 11.0% | -9.8% |
| 净利润同比 | 48.3% | 56.7% |
| 每股收益（稀释后） | $0.32 | $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OPR
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.5B | $1.3B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $1.3B | $1.2B |
净利润OPR
| Q4 25 | $296.1M | $339.5M | ||
| Q3 25 | $315.8M | $59.2M | ||
| Q2 25 | $196.9M | $207.1M | ||
| Q1 25 | $249.8M | $329.3M | ||
| Q4 24 | $199.6M | $216.7M | ||
| Q3 24 | $269.5M | $386.4M | ||
| Q2 24 | $259.4M | $235.1M | ||
| Q1 24 | $132.3M | $146.6M |
营业利润率OPR
| Q4 25 | 21.7% | 23.1% | ||
| Q3 25 | 23.2% | 29.6% | ||
| Q2 25 | 15.8% | 24.8% | ||
| Q1 25 | 19.3% | 36.6% | ||
| Q4 24 | 16.5% | 32.8% | ||
| Q3 24 | 21.5% | 32.5% | ||
| Q2 24 | 20.7% | 36.5% | ||
| Q1 24 | 11.9% | 37.7% |
净利率OPR
| Q4 25 | 19.9% | 29.0% | ||
| Q3 25 | 21.5% | 4.5% | ||
| Q2 25 | 14.0% | 17.3% | ||
| Q1 25 | 18.1% | 23.9% | ||
| Q4 24 | 14.9% | 16.7% | ||
| Q3 24 | 20.2% | 31.8% | ||
| Q2 24 | 19.4% | 18.9% | ||
| Q1 24 | 10.5% | 11.8% |
每股收益（稀释后）OPR
| Q4 25 | $0.32 | $0.48 | ||
| Q3 25 | $0.35 | $0.08 | ||
| Q2 25 | $0.22 | $0.28 | ||
| Q1 25 | $0.28 | $0.44 | ||
| Q4 24 | $0.23 | $0.31 | ||
| Q3 24 | $0.30 | $0.53 | ||
| Q2 24 | $0.29 | $0.36 | ||
| Q1 24 | $0.16 | $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 | $434.8M | $153.7M |
| 总债务越低越好 | — | $3.5B |
| 股东权益账面价值 | $39.4B | $10.3B |
| 总资产 | $72.8B | $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OPR
| Q4 25 | $434.8M | $153.7M | ||
| Q3 25 | $417.2M | $111.8M | ||
| Q2 25 | $800.4M | $451.0M | ||
| Q1 25 | $319.0M | $702.2M | ||
| Q4 24 | $445.0M | $479.3M | ||
| Q3 24 | $397.0M | $272.0M | ||
| Q2 24 | $442.8M | $47.8M | ||
| Q1 24 | $680.2M | $12.7M |
总债务OPR
| 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OPR
| Q4 25 | $39.4B | $10.3B | ||
| Q3 25 | $39.1B | $10.0B | ||
| Q2 25 | $39.2B | $9.5B | ||
| Q1 25 | $39.0B | $9.4B | ||
| Q4 24 | $38.8B | $9.1B | ||
| Q3 24 | $38.5B | $9.0B | ||
| Q2 24 | $38.6B | $8.3B | ||
| Q1 24 | $39.0B | $7.0B |
总资产OPR
| Q4 25 | $72.8B | $17.9B | ||
| Q3 25 | $71.3B | $17.3B | ||
| Q2 25 | $71.4B | $17.5B | ||
| Q1 25 | $69.8B | $17.1B | ||
| Q4 24 | $68.8B | $16.9B | ||
| Q3 24 | $68.5B | $16.6B | ||
| Q2 24 | $68.1B | $15.4B | ||
| Q1 24 | $68.3B | $15.1B |
负债/权益比OPR
| 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 | $1.2B | $904.3M |
| 自由现金流经营现金流 - 资本支出 | $1.2B | — |
| 自由现金流率自由现金流/营收 | 77.6% | — |
| 资本支出强度资本支出/营收 | 3.3% | — |
| 现金转化率经营现金流/净利润 | 4.06× | 2.66× |
| 过去12个月自由现金流最近4个季度 | $3.9B | — |
8季度趋势，按日历期对齐
经营现金流OPR
| Q4 25 | $1.2B | $904.3M | ||
| Q3 25 | $943.1M | $766.5M | ||
| Q2 25 | $1.1B | $1.0B | ||
| Q1 25 | $787.5M | $898.0M | ||
| Q4 24 | $972.0M | $871.6M | ||
| Q3 24 | $841.5M | $954.4M | ||
| Q2 24 | $981.2M | $938.4M | ||
| Q1 24 | $778.7M | $647.6M |
自由现金流OPR
| Q4 25 | $1.2B | — | ||
| Q3 25 | $909.9M | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $764.6M | — | ||
| Q4 24 | $935.8M | — | ||
| Q3 24 | $807.9M | — | ||
| Q2 24 | $939.2M | — | ||
| Q1 24 | $769.0M | — |
自由现金流率OPR
| Q4 25 | 77.6% | — | ||
| Q3 25 | 61.9% | — | ||
| Q2 25 | 73.3% | — | ||
| Q1 25 | 55.4% | — | ||
| Q4 24 | 69.8% | — | ||
| Q3 24 | 60.7% | — | ||
| Q2 24 | 70.1% | — | ||
| Q1 24 | 61.0% | — |
资本支出强度OPR
| Q4 25 | 3.3% | — | ||
| Q3 25 | 2.3% | — | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 2.5% | — | ||
| Q2 24 | 3.1% | — | ||
| Q1 24 | 0.8% | — |
现金转化率OPR
| Q4 25 | 4.06× | 2.66× | ||
| Q3 25 | 2.99× | 12.94× | ||
| Q2 25 | 5.39× | 5.01× | ||
| Q1 25 | 3.15× | 2.73× | ||
| Q4 24 | 4.87× | 4.02× | ||
| Q3 24 | 3.12× | 2.47× | ||
| Q2 24 | 3.78× | 3.99× | ||
| Q1 24 | 5.89× | 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
O
| Product And Service Retail | $900.8M | 61% |
| Other | $531.5M | 36% |
PR
| Crude Oil | $1.0B | 87% |
| Natural Gas Liquids Reserves | $145.1M | 12% |
