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PAR PACIFIC HOLDINGS, INC.（PARR）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
PAR PACIFIC HOLDINGS, INC.的季度营收约是利氏兄弟拍卖行的1.5倍（$1.8B vs $1.2B），利氏兄弟拍卖行净利率更高（9.1% vs 4.3%，领先4.8%），利氏兄弟拍卖行同比增速更快（5.4% vs -1.0%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $66.3M），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% 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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
PARR vs RBA — 直观对比
营收规模更大
PARR
是对方的1.5倍
$1.2B
营收增速更快
RBA
高出6.4%
-1.0%
净利率更高
RBA
高出4.8%
4.3%
自由现金流更多
RBA
多$120.2M
$66.3M
两年增速更快
RBA
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 | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | 5.5% | 14.7% |
| 净利率 | 4.3% | 9.1% |
| 营收同比 | -1.0% | 5.4% |
| 净利润同比 | 239.5% | -7.4% |
| 每股收益（稀释后） | $1.40 | $0.53 |
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PARRRBA
| Q4 25 | $1.8B | $1.2B | ||
| Q3 25 | $2.0B | $1.1B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.7B | $1.1B | ||
| Q4 24 | $1.8B | $1.1B | ||
| Q3 24 | $2.1B | $981.8M | ||
| Q2 24 | $2.0B | $1.1B | ||
| Q1 24 | $2.0B | $1.1B |
净利润PARRRBA
| Q4 25 | $77.7M | $109.7M | ||
| Q3 25 | $262.6M | $95.5M | ||
| Q2 25 | $59.5M | $109.8M | ||
| Q1 25 | $-30.4M | $113.4M | ||
| Q4 24 | $-55.7M | $118.5M | ||
| Q3 24 | $7.5M | $76.1M | ||
| Q2 24 | $18.6M | $111.1M | ||
| Q1 24 | $-3.8M | $107.4M |
营业利润率PARRRBA
| Q4 25 | 5.5% | 14.7% | ||
| Q3 25 | 17.8% | 14.5% | ||
| Q2 25 | 5.1% | 15.9% | ||
| Q1 25 | -0.9% | 17.1% | ||
| Q4 24 | -2.6% | 18.1% | ||
| Q3 24 | 1.7% | 15.6% | ||
| Q2 24 | 2.4% | 18.4% | ||
| Q1 24 | 0.5% | 18.7% |
净利率PARRRBA
| Q4 25 | 4.3% | 9.1% | ||
| Q3 25 | 13.0% | 8.7% | ||
| Q2 25 | 3.1% | 9.3% | ||
| Q1 25 | -1.7% | 10.2% | ||
| Q4 24 | -3.0% | 10.4% | ||
| Q3 24 | 0.3% | 7.8% | ||
| Q2 24 | 0.9% | 10.1% | ||
| Q1 24 | -0.2% | 10.1% |
每股收益（稀释后）PARRRBA
| Q4 25 | $1.40 | $0.53 | ||
| Q3 25 | $5.16 | $0.43 | ||
| Q2 25 | $1.17 | $0.53 | ||
| Q1 25 | $-0.57 | $0.55 | ||
| Q4 24 | $-0.98 | $0.58 | ||
| Q3 24 | $0.13 | $0.36 | ||
| Q2 24 | $0.32 | $0.54 | ||
| Q1 24 | $-0.06 | $0.53 |
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 | $531.5M |
| 总债务越低越好 | $802.9M | $2.3B |
| 股东权益账面价值 | $1.5B | $5.6B |
| 总资产 | $3.8B | $12.1B |
| 负债/权益比越低杠杆越低 | 0.53× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资PARRRBA
| Q4 25 | $164.1M | $531.5M | ||
| Q3 25 | $159.1M | $674.7M | ||
| Q2 25 | $169.2M | $710.2M | ||
| Q1 25 | $133.7M | $578.1M | ||
| Q4 24 | $191.9M | $533.9M | ||
| Q3 24 | $183.0M | $650.7M | ||
| Q2 24 | $179.7M | $599.5M | ||
| Q1 24 | $228.3M | $462.8M |
总债务PARRRBA
| Q4 25 | $802.9M | $2.3B | ||
| Q3 25 | $967.1M | $2.6B | ||
| Q2 25 | $1.1B | $2.6B | ||
| Q1 25 | $1.2B | $2.6B | ||
| Q4 24 | $1.1B | $2.6B | ||
| Q3 24 | $1.0B | $2.7B | ||
| Q2 24 | $1.1B | $2.8B | ||
| Q1 24 | $639.5M | $2.9B |
股东权益PARRRBA
| Q4 25 | $1.5B | $5.6B | ||
| Q3 25 | $1.4B | $5.5B | ||
| Q2 25 | $1.1B | $5.5B | ||
| Q1 25 | $1.1B | $5.3B | ||
| Q4 24 | $1.2B | $5.2B | ||
| Q3 24 | $1.3B | $5.2B | ||
| Q2 24 | $1.3B | $5.2B | ||
| Q1 24 | $1.3B | $5.1B |
总资产PARRRBA
| Q4 25 | $3.8B | $12.1B | ||
| Q3 25 | $4.1B | $12.2B | ||
| Q2 25 | $3.9B | $12.2B | ||
| Q1 25 | $3.8B | $11.9B | ||
| Q4 24 | $3.8B | $11.8B | ||
| Q3 24 | $3.9B | $11.9B | ||
| Q2 24 | $3.9B | $12.1B | ||
| Q1 24 | $3.8B | $12.0B |
负债/权益比PARRRBA
| Q4 25 | 0.53× | 0.42× | ||
| Q3 25 | 0.69× | 0.47× | ||
| Q2 25 | 0.97× | 0.47× | ||
| Q1 25 | 1.04× | 0.50× | ||
| Q4 24 | 0.93× | 0.50× | ||
| Q3 24 | 0.83× | 0.52× | ||
| Q2 24 | 0.84× | 0.55× | ||
| Q1 24 | 0.49× | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $66.3M | $186.5M |
| 自由现金流率自由现金流/营收 | 3.7% | 15.5% |
| 资本支出强度资本支出/营收 | 1.5% | 5.7% |
| 现金转化率经营现金流/净利润 | 1.21× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $296.5M | $719.2M |
8季度趋势，按日历期对齐
经营现金流PARRRBA
| Q4 25 | $93.8M | $255.2M | ||
| Q3 25 | $219.4M | $239.7M | ||
| Q2 25 | $133.6M | $326.5M | ||
| Q1 25 | $-1.4M | $156.8M | ||
| Q4 24 | $-15.5M | $184.5M | ||
| Q3 24 | $78.5M | $285.4M | ||
| Q2 24 | $-4.7M | $337.3M | ||
| Q1 24 | $25.4M | $124.8M |
自由现金流PARRRBA
| Q4 25 | $66.3M | $186.5M | ||
| Q3 25 | $187.1M | $188.5M | ||
| Q2 25 | $85.5M | $241.7M | ||
| Q1 25 | $-42.3M | $102.5M | ||
| Q4 24 | $-63.1M | $127.9M | ||
| Q3 24 | $50.2M | $248.5M | ||
| Q2 24 | $-41.6M | $308.6M | ||
| Q1 24 | $2.8M | $79.6M |
自由现金流率PARRRBA
| Q4 25 | 3.7% | 15.5% | ||
| Q3 25 | 9.3% | 17.3% | ||
| Q2 25 | 4.5% | 20.4% | ||
| Q1 25 | -2.4% | 9.2% | ||
| Q4 24 | -3.4% | 11.2% | ||
| Q3 24 | 2.3% | 25.3% | ||
| Q2 24 | -2.1% | 28.2% | ||
| Q1 24 | 0.1% | 7.5% |
资本支出强度PARRRBA
| Q4 25 | 1.5% | 5.7% | ||
| Q3 25 | 1.6% | 4.7% | ||
| Q2 25 | 2.5% | 7.2% | ||
| Q1 25 | 2.3% | 4.9% | ||
| Q4 24 | 2.6% | 5.0% | ||
| Q3 24 | 1.3% | 3.8% | ||
| Q2 24 | 1.8% | 2.6% | ||
| Q1 24 | 1.1% | 4.2% |
现金转化率PARRRBA
| Q4 25 | 1.21× | 2.33× | ||
| Q3 25 | 0.84× | 2.51× | ||
| Q2 25 | 2.25× | 2.97× | ||
| Q1 25 | — | 1.38× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | 10.48× | 3.75× | ||
| Q2 24 | -0.25× | 3.04× | ||
| Q1 24 | — | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
