vs
PAR PACIFIC HOLDINGS, INC.（PARR）与TRINET GROUP, INC.（TNET）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TRINET GROUP, INC.的1.5倍（$1.8B vs $1.2B），PAR PACIFIC HOLDINGS, INC.同比增速更快（-1.0% vs -2.2%），PAR PACIFIC HOLDINGS, INC.自由现金流更多（$66.3M vs $43.0M），过去两年TRINET GROUP, INC.的营收复合增速更高（-0.6% 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。
TriNet Group, Inc.是一家面向中小企业的专业雇主组织，总部位于加州都柏林，服务员工规模在3至2500人之间的各类机构。可提供薪资管理、健康福利管理服务，还能为客户提供劳动法规合规、风险降低相关咨询，可作为外包人力资源部门为企业分担人事相关事务。
PARR vs TNET — 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
PARR
高出1.2%
-2.2%
自由现金流更多
PARR
多$23.3M
$43.0M
两年增速更快
TNET
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 | — |
| 毛利率 | — | — |
| 营业利润率 | 5.5% | 0.1% |
| 净利率 | 4.3% | — |
| 营收同比 | -1.0% | -2.2% |
| 净利润同比 | 239.5% | — |
| 每股收益（稀释后） | $1.40 | $0.02 |
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PARRTNET
| Q4 25 | $1.8B | $1.2B | ||
| Q3 25 | $2.0B | $1.2B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $1.8B | $1.3B | ||
| Q3 24 | $2.1B | $1.2B | ||
| Q2 24 | $2.0B | $1.2B | ||
| Q1 24 | $2.0B | $1.3B |
净利润PARRTNET
| Q4 25 | $77.7M | — | ||
| Q3 25 | $262.6M | $34.0M | ||
| Q2 25 | $59.5M | $37.0M | ||
| Q1 25 | $-30.4M | $85.0M | ||
| Q4 24 | $-55.7M | — | ||
| Q3 24 | $7.5M | $45.0M | ||
| Q2 24 | $18.6M | $60.0M | ||
| Q1 24 | $-3.8M | $91.0M |
营业利润率PARRTNET
| Q4 25 | 5.5% | 0.1% | ||
| Q3 25 | 17.8% | 4.1% | ||
| Q2 25 | 5.1% | 4.1% | ||
| Q1 25 | -0.9% | 8.9% | ||
| Q4 24 | -2.6% | -2.9% | ||
| Q3 24 | 1.7% | 4.7% | ||
| Q2 24 | 2.4% | 6.5% | ||
| Q1 24 | 0.5% | 9.7% |
净利率PARRTNET
| Q4 25 | 4.3% | — | ||
| Q3 25 | 13.0% | 2.8% | ||
| Q2 25 | 3.1% | 3.0% | ||
| Q1 25 | -1.7% | 6.6% | ||
| Q4 24 | -3.0% | — | ||
| Q3 24 | 0.3% | 3.6% | ||
| Q2 24 | 0.9% | 4.9% | ||
| Q1 24 | -0.2% | 7.2% |
每股收益（稀释后）PARRTNET
| Q4 25 | $1.40 | $0.02 | ||
| Q3 25 | $5.16 | $0.70 | ||
| Q2 25 | $1.17 | $0.77 | ||
| Q1 25 | $-0.57 | $1.71 | ||
| Q4 24 | $-0.98 | $-0.44 | ||
| Q3 24 | $0.13 | $0.89 | ||
| Q2 24 | $0.32 | $1.20 | ||
| Q1 24 | $-0.06 | $1.78 |
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 | $287.0M |
| 总债务越低越好 | $802.9M | — |
| 股东权益账面价值 | $1.5B | $54.0M |
| 总资产 | $3.8B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.53× | — |
8季度趋势，按日历期对齐
现金及短期投资PARRTNET
| Q4 25 | $164.1M | $287.0M | ||
| Q3 25 | $159.1M | $321.0M | ||
| Q2 25 | $169.2M | $407.0M | ||
| Q1 25 | $133.7M | $349.0M | ||
| Q4 24 | $191.9M | $360.0M | ||
| Q3 24 | $183.0M | $301.0M | ||
| Q2 24 | $179.7M | $249.0M | ||
| Q1 24 | $228.3M | $383.0M |
总债务PARRTNET
| Q4 25 | $802.9M | — | ||
| Q3 25 | $967.1M | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $639.5M | — |
股东权益PARRTNET
| Q4 25 | $1.5B | $54.0M | ||
| Q3 25 | $1.4B | $110.0M | ||
| Q2 25 | $1.1B | $107.0M | ||
| Q1 25 | $1.1B | $63.0M | ||
| Q4 24 | $1.2B | $69.0M | ||
| Q3 24 | $1.3B | $129.0M | ||
| Q2 24 | $1.3B | $100.0M | ||
| Q1 24 | $1.3B | $143.0M |
总资产PARRTNET
| Q4 25 | $3.8B | $3.8B | ||
| Q3 25 | $4.1B | $3.4B | ||
| Q2 25 | $3.9B | $3.7B | ||
| Q1 25 | $3.8B | $3.8B | ||
| Q4 24 | $3.8B | $4.1B | ||
| Q3 24 | $3.9B | $3.7B | ||
| Q2 24 | $3.9B | $3.7B | ||
| Q1 24 | $3.8B | $4.0B |
负债/权益比PARRTNET
| Q4 25 | 0.53× | — | ||
| Q3 25 | 0.69× | — | ||
| Q2 25 | 0.97× | — | ||
| Q1 25 | 1.04× | — | ||
| Q4 24 | 0.93× | — | ||
| Q3 24 | 0.83× | — | ||
| Q2 24 | 0.84× | — | ||
| Q1 24 | 0.49× | — |
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 | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $66.3M | $43.0M |
| 自由现金流率自由现金流/营收 | 3.7% | 3.4% |
| 资本支出强度资本支出/营收 | 1.5% | 1.4% |
| 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 | $234.0M |
8季度趋势，按日历期对齐
经营现金流PARRTNET
| Q4 25 | $93.8M | $61.0M | ||
| Q3 25 | $219.4M | $72.0M | ||
| Q2 25 | $133.6M | $75.0M | ||
| Q1 25 | $-1.4M | $95.0M | ||
| Q4 24 | $-15.5M | $65.0M | ||
| Q3 24 | $78.5M | $84.0M | ||
| Q2 24 | $-4.7M | $39.0M | ||
| Q1 24 | $25.4M | $91.0M |
自由现金流PARRTNET
| Q4 25 | $66.3M | $43.0M | ||
| Q3 25 | $187.1M | $55.0M | ||
| Q2 25 | $85.5M | $57.0M | ||
| Q1 25 | $-42.3M | $79.0M | ||
| Q4 24 | $-63.1M | $47.0M | ||
| Q3 24 | $50.2M | $59.0M | ||
| Q2 24 | $-41.6M | $22.0M | ||
| Q1 24 | $2.8M | $73.0M |
自由现金流率PARRTNET
| Q4 25 | 3.7% | 3.4% | ||
| Q3 25 | 9.3% | 4.5% | ||
| Q2 25 | 4.5% | 4.6% | ||
| Q1 25 | -2.4% | 6.1% | ||
| Q4 24 | -3.4% | 3.7% | ||
| Q3 24 | 2.3% | 4.8% | ||
| Q2 24 | -2.1% | 1.8% | ||
| Q1 24 | 0.1% | 5.8% |
资本支出强度PARRTNET
| Q4 25 | 1.5% | 1.4% | ||
| Q3 25 | 1.6% | 1.4% | ||
| Q2 25 | 2.5% | 1.5% | ||
| Q1 25 | 2.3% | 1.2% | ||
| Q4 24 | 2.6% | 1.4% | ||
| Q3 24 | 1.3% | 2.0% | ||
| Q2 24 | 1.8% | 1.4% | ||
| Q1 24 | 1.1% | 1.4% |
现金转化率PARRTNET
| Q4 25 | 1.21× | — | ||
| Q3 25 | 0.84× | 2.12× | ||
| Q2 25 | 2.25× | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | 10.48× | 1.87× | ||
| Q2 24 | -0.25× | 0.65× | ||
| Q1 24 | — | 1.00× |
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% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
