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PAR PACIFIC HOLDINGS, INC.（PARR）与RXO, Inc.（RXO）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RXO, Inc.的1.2倍（$1.8B vs $1.5B），PAR PACIFIC HOLDINGS, INC.净利率更高（4.3% vs -3.1%，领先7.4%），PAR PACIFIC HOLDINGS, INC.同比增速更快（-1.0% vs -11.9%），PAR PACIFIC HOLDINGS, INC.自由现金流更多（$66.3M vs $-9.0M），过去两年RXO, Inc.的营收复合增速更高（26.8% 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。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
PARR vs RXO — 直观对比
营收规模更大
PARR
是对方的1.2倍
$1.5B
营收增速更快
PARR
高出10.8%
-11.9%
净利率更高
PARR
高出7.4%
-3.1%
自由现金流更多
PARR
多$75.3M
$-9.0M
两年增速更快
RXO
近两年复合增速
-4.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.5B |
| 净利润 | $77.7M | $-46.0M |
| 毛利率 | — | — |
| 营业利润率 | 5.5% | -2.9% |
| 净利率 | 4.3% | -3.1% |
| 营收同比 | -1.0% | -11.9% |
| 净利润同比 | 239.5% | -84.0% |
| 每股收益（稀释后） | $1.40 | $-0.28 |
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PARRRXO
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $2.0B | $1.4B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | $1.7B | $1.4B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $2.1B | $1.0B | ||
| Q2 24 | $2.0B | $930.0M | ||
| Q1 24 | $2.0B | $913.0M |
净利润PARRRXO
| Q4 25 | $77.7M | $-46.0M | ||
| Q3 25 | $262.6M | $-14.0M | ||
| Q2 25 | $59.5M | $-9.0M | ||
| Q1 25 | $-30.4M | $-31.0M | ||
| Q4 24 | $-55.7M | $-25.0M | ||
| Q3 24 | $7.5M | $-243.0M | ||
| Q2 24 | $18.6M | $-7.0M | ||
| Q1 24 | $-3.8M | $-15.0M |
营业利润率PARRRXO
| Q4 25 | 5.5% | -2.9% | ||
| Q3 25 | 17.8% | -0.5% | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | -0.9% | -2.1% | ||
| Q4 24 | -2.6% | -1.4% | ||
| Q3 24 | 1.7% | -1.9% | ||
| Q2 24 | 2.4% | — | ||
| Q1 24 | 0.5% | -1.3% |
净利率PARRRXO
| Q4 25 | 4.3% | -3.1% | ||
| Q3 25 | 13.0% | -1.0% | ||
| Q2 25 | 3.1% | -0.6% | ||
| Q1 25 | -1.7% | -2.2% | ||
| Q4 24 | -3.0% | -1.5% | ||
| Q3 24 | 0.3% | -23.4% | ||
| Q2 24 | 0.9% | -0.8% | ||
| Q1 24 | -0.2% | -1.6% |
每股收益（稀释后）PARRRXO
| Q4 25 | $1.40 | $-0.28 | ||
| Q3 25 | $5.16 | $-0.08 | ||
| Q2 25 | $1.17 | $-0.05 | ||
| Q1 25 | $-0.57 | $-0.18 | ||
| Q4 24 | $-0.98 | $-0.17 | ||
| Q3 24 | $0.13 | $-1.81 | ||
| Q2 24 | $0.32 | $-0.06 | ||
| Q1 24 | $-0.06 | $-0.13 |
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 | $17.0M |
| 总债务越低越好 | $802.9M | $387.0M |
| 股东权益账面价值 | $1.5B | $1.5B |
| 总资产 | $3.8B | $3.3B |
| 负债/权益比越低杠杆越低 | 0.53× | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资PARRRXO
| Q4 25 | $164.1M | $17.0M | ||
| Q3 25 | $159.1M | $25.0M | ||
| Q2 25 | $169.2M | $18.0M | ||
| Q1 25 | $133.7M | $16.0M | ||
| Q4 24 | $191.9M | $35.0M | ||
| Q3 24 | $183.0M | $55.0M | ||
| Q2 24 | $179.7M | $7.0M | ||
| Q1 24 | $228.3M | $7.0M |
总债务PARRRXO
| Q4 25 | $802.9M | $387.0M | ||
| Q3 25 | $967.1M | $387.0M | ||
| Q2 25 | $1.1B | $387.0M | ||
| Q1 25 | $1.2B | $387.0M | ||
| Q4 24 | $1.1B | $351.0M | ||
| Q3 24 | $1.0B | $352.0M | ||
| Q2 24 | $1.1B | $370.0M | ||
| Q1 24 | $639.5M | $351.0M |
股东权益PARRRXO
| Q4 25 | $1.5B | $1.5B | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $1.1B | $1.6B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $1.2B | $1.6B | ||
| Q3 24 | $1.3B | $1.7B | ||
| Q2 24 | $1.3B | $579.0M | ||
| Q1 24 | $1.3B | $582.0M |
总资产PARRRXO
| Q4 25 | $3.8B | $3.3B | ||
| Q3 25 | $4.1B | $3.2B | ||
| Q2 25 | $3.9B | $3.2B | ||
| Q1 25 | $3.8B | $3.3B | ||
| Q4 24 | $3.8B | $3.4B | ||
| Q3 24 | $3.9B | $3.4B | ||
| Q2 24 | $3.9B | $1.8B | ||
| Q1 24 | $3.8B | $1.8B |
负债/权益比PARRRXO
| Q4 25 | 0.53× | 0.25× | ||
| Q3 25 | 0.69× | 0.24× | ||
| Q2 25 | 0.97× | 0.24× | ||
| Q1 25 | 1.04× | 0.24× | ||
| Q4 24 | 0.93× | 0.22× | ||
| Q3 24 | 0.83× | 0.21× | ||
| Q2 24 | 0.84× | 0.64× | ||
| Q1 24 | 0.49× | 0.60× |
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 | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $66.3M | $-9.0M |
| 自由现金流率自由现金流/营收 | 3.7% | -0.6% |
| 资本支出强度资本支出/营收 | 1.5% | 1.1% |
| 现金转化率经营现金流/净利润 | 1.21× | — |
| 过去12个月自由现金流最近4个季度 | $296.5M | $-8.0M |
8季度趋势，按日历期对齐
经营现金流PARRRXO
| Q4 25 | $93.8M | $7.0M | ||
| Q3 25 | $219.4M | $23.0M | ||
| Q2 25 | $133.6M | $23.0M | ||
| Q1 25 | $-1.4M | $-2.0M | ||
| Q4 24 | $-15.5M | $-7.0M | ||
| Q3 24 | $78.5M | $-7.0M | ||
| Q2 24 | $-4.7M | $-5.0M | ||
| Q1 24 | $25.4M | $7.0M |
自由现金流PARRRXO
| Q4 25 | $66.3M | $-9.0M | ||
| Q3 25 | $187.1M | $9.0M | ||
| Q2 25 | $85.5M | $9.0M | ||
| Q1 25 | $-42.3M | $-17.0M | ||
| Q4 24 | $-63.1M | $-19.0M | ||
| Q3 24 | $50.2M | $-18.0M | ||
| Q2 24 | $-41.6M | $-16.0M | ||
| Q1 24 | $2.8M | $-4.0M |
自由现金流率PARRRXO
| Q4 25 | 3.7% | -0.6% | ||
| Q3 25 | 9.3% | 0.6% | ||
| Q2 25 | 4.5% | 0.6% | ||
| Q1 25 | -2.4% | -1.2% | ||
| Q4 24 | -3.4% | -1.1% | ||
| Q3 24 | 2.3% | -1.7% | ||
| Q2 24 | -2.1% | -1.7% | ||
| Q1 24 | 0.1% | -0.4% |
资本支出强度PARRRXO
| Q4 25 | 1.5% | 1.1% | ||
| Q3 25 | 1.6% | 1.0% | ||
| Q2 25 | 2.5% | 1.0% | ||
| Q1 25 | 2.3% | 1.0% | ||
| Q4 24 | 2.6% | 0.7% | ||
| Q3 24 | 1.3% | 1.1% | ||
| Q2 24 | 1.8% | 1.2% | ||
| Q1 24 | 1.1% | 1.2% |
现金转化率PARRRXO
| Q4 25 | 1.21× | — | ||
| Q3 25 | 0.84× | — | ||
| Q2 25 | 2.25× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 10.48× | — | ||
| Q2 24 | -0.25× | — | ||
| Q1 24 | — | — |
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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
