vs
PAR PACIFIC HOLDINGS, INC.（PARR）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
PAR PACIFIC HOLDINGS, INC.的季度营收约是先锋自然资源公司的1.6倍（$1.8B vs $1.2B），先锋自然资源公司净利率更高（29.0% vs 4.3%，领先24.7%），PAR PACIFIC HOLDINGS, INC.同比增速更快（-1.0% vs -9.8%），过去两年先锋自然资源公司的营收复合增速更高（-3.0% vs -4.3%）
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。
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。
PARR vs PR — 直观对比
营收规模更大
PARR
是对方的1.6倍
$1.2B
营收增速更快
PARR
高出8.7%
-9.8%
净利率更高
PR
高出24.7%
4.3%
两年增速更快
PR
近两年复合增速
-4.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.2B |
| 净利润 | $77.7M | $339.5M |
| 毛利率 | — | — |
| 营业利润率 | 5.5% | 23.1% |
| 净利率 | 4.3% | 29.0% |
| 营收同比 | -1.0% | -9.8% |
| 净利润同比 | 239.5% | 56.7% |
| 每股收益（稀释后） | $1.40 | $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PARRPR
| Q4 25 | $1.8B | $1.2B | ||
| Q3 25 | $2.0B | $1.3B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.7B | $1.4B | ||
| Q4 24 | $1.8B | $1.3B | ||
| Q3 24 | $2.1B | $1.2B | ||
| Q2 24 | $2.0B | $1.2B | ||
| Q1 24 | $2.0B | $1.2B |
净利润PARRPR
| Q4 25 | $77.7M | $339.5M | ||
| Q3 25 | $262.6M | $59.2M | ||
| Q2 25 | $59.5M | $207.1M | ||
| Q1 25 | $-30.4M | $329.3M | ||
| Q4 24 | $-55.7M | $216.7M | ||
| Q3 24 | $7.5M | $386.4M | ||
| Q2 24 | $18.6M | $235.1M | ||
| Q1 24 | $-3.8M | $146.6M |
营业利润率PARRPR
| Q4 25 | 5.5% | 23.1% | ||
| Q3 25 | 17.8% | 29.6% | ||
| Q2 25 | 5.1% | 24.8% | ||
| Q1 25 | -0.9% | 36.6% | ||
| Q4 24 | -2.6% | 32.8% | ||
| Q3 24 | 1.7% | 32.5% | ||
| Q2 24 | 2.4% | 36.5% | ||
| Q1 24 | 0.5% | 37.7% |
净利率PARRPR
| Q4 25 | 4.3% | 29.0% | ||
| Q3 25 | 13.0% | 4.5% | ||
| Q2 25 | 3.1% | 17.3% | ||
| Q1 25 | -1.7% | 23.9% | ||
| Q4 24 | -3.0% | 16.7% | ||
| Q3 24 | 0.3% | 31.8% | ||
| Q2 24 | 0.9% | 18.9% | ||
| Q1 24 | -0.2% | 11.8% |
每股收益（稀释后）PARRPR
| Q4 25 | $1.40 | $0.48 | ||
| Q3 25 | $5.16 | $0.08 | ||
| Q2 25 | $1.17 | $0.28 | ||
| Q1 25 | $-0.57 | $0.44 | ||
| Q4 24 | $-0.98 | $0.31 | ||
| Q3 24 | $0.13 | $0.53 | ||
| Q2 24 | $0.32 | $0.36 | ||
| Q1 24 | $-0.06 | $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 | $164.1M | $153.7M |
| 总债务越低越好 | $802.9M | $3.5B |
| 股东权益账面价值 | $1.5B | $10.3B |
| 总资产 | $3.8B | $17.9B |
| 负债/权益比越低杠杆越低 | 0.53× | 0.34× |
8季度趋势，按日历期对齐
现金及短期投资PARRPR
| Q4 25 | $164.1M | $153.7M | ||
| Q3 25 | $159.1M | $111.8M | ||
| Q2 25 | $169.2M | $451.0M | ||
| Q1 25 | $133.7M | $702.2M | ||
| Q4 24 | $191.9M | $479.3M | ||
| Q3 24 | $183.0M | $272.0M | ||
| Q2 24 | $179.7M | $47.8M | ||
| Q1 24 | $228.3M | $12.7M |
总债务PARRPR
| Q4 25 | $802.9M | $3.5B | ||
| Q3 25 | $967.1M | $3.5B | ||
| Q2 25 | $1.1B | $4.0B | ||
| Q1 25 | $1.2B | $4.0B | ||
| Q4 24 | $1.1B | $4.2B | ||
| Q3 24 | $1.0B | $4.2B | ||
| Q2 24 | $1.1B | $3.9B | ||
| Q1 24 | $639.5M | $3.9B |
股东权益PARRPR
| Q4 25 | $1.5B | $10.3B | ||
| Q3 25 | $1.4B | $10.0B | ||
| Q2 25 | $1.1B | $9.5B | ||
| Q1 25 | $1.1B | $9.4B | ||
| Q4 24 | $1.2B | $9.1B | ||
| Q3 24 | $1.3B | $9.0B | ||
| Q2 24 | $1.3B | $8.3B | ||
| Q1 24 | $1.3B | $7.0B |
总资产PARRPR
| Q4 25 | $3.8B | $17.9B | ||
| Q3 25 | $4.1B | $17.3B | ||
| Q2 25 | $3.9B | $17.5B | ||
| Q1 25 | $3.8B | $17.1B | ||
| Q4 24 | $3.8B | $16.9B | ||
| Q3 24 | $3.9B | $16.6B | ||
| Q2 24 | $3.9B | $15.4B | ||
| Q1 24 | $3.8B | $15.1B |
负债/权益比PARRPR
| Q4 25 | 0.53× | 0.34× | ||
| Q3 25 | 0.69× | 0.35× | ||
| Q2 25 | 0.97× | 0.42× | ||
| Q1 25 | 1.04× | 0.43× | ||
| Q4 24 | 0.93× | 0.46× | ||
| Q3 24 | 0.83× | 0.47× | ||
| Q2 24 | 0.84× | 0.46× | ||
| Q1 24 | 0.49× | 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 | $93.8M | $904.3M |
| 自由现金流经营现金流 - 资本支出 | $66.3M | — |
| 自由现金流率自由现金流/营收 | 3.7% | — |
| 资本支出强度资本支出/营收 | 1.5% | — |
| 现金转化率经营现金流/净利润 | 1.21× | 2.66× |
| 过去12个月自由现金流最近4个季度 | $296.5M | — |
8季度趋势，按日历期对齐
经营现金流PARRPR
| Q4 25 | $93.8M | $904.3M | ||
| Q3 25 | $219.4M | $766.5M | ||
| Q2 25 | $133.6M | $1.0B | ||
| Q1 25 | $-1.4M | $898.0M | ||
| Q4 24 | $-15.5M | $871.6M | ||
| Q3 24 | $78.5M | $954.4M | ||
| Q2 24 | $-4.7M | $938.4M | ||
| Q1 24 | $25.4M | $647.6M |
自由现金流PARRPR
| Q4 25 | $66.3M | — | ||
| Q3 25 | $187.1M | — | ||
| Q2 25 | $85.5M | — | ||
| Q1 25 | $-42.3M | — | ||
| Q4 24 | $-63.1M | — | ||
| Q3 24 | $50.2M | — | ||
| Q2 24 | $-41.6M | — | ||
| Q1 24 | $2.8M | — |
自由现金流率PARRPR
| Q4 25 | 3.7% | — | ||
| Q3 25 | 9.3% | — | ||
| Q2 25 | 4.5% | — | ||
| Q1 25 | -2.4% | — | ||
| Q4 24 | -3.4% | — | ||
| Q3 24 | 2.3% | — | ||
| Q2 24 | -2.1% | — | ||
| Q1 24 | 0.1% | — |
资本支出强度PARRPR
| Q4 25 | 1.5% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 2.3% | — | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 1.3% | — | ||
| Q2 24 | 1.8% | — | ||
| Q1 24 | 1.1% | — |
现金转化率PARRPR
| Q4 25 | 1.21× | 2.66× | ||
| Q3 25 | 0.84× | 12.94× | ||
| Q2 25 | 2.25× | 5.01× | ||
| Q1 25 | — | 2.73× | ||
| Q4 24 | — | 4.02× | ||
| Q3 24 | 10.48× | 2.47× | ||
| Q2 24 | -0.25× | 3.99× | ||
| Q1 24 | — | 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
PARR
| Distillates | $750.6M | 41% |
| Gasoline | $603.9M | 33% |
| Other Refined Products | $348.8M | 19% |
| Logistics | $73.7M | 4% |
| Other Revenues | $44.8M | 2% |
PR
| Crude Oil | $1.0B | 87% |
| Natural Gas Liquids Reserves | $145.1M | 12% |
