vs
先锋自然资源公司（PR）与Primoris Services Corp（PRIM）财务数据对比。点击上方公司名可切换其他公司
Primoris Services Corp的季度营收约是先锋自然资源公司的1.6倍（$1.9B vs $1.2B），先锋自然资源公司净利率更高（29.0% vs 2.8%，领先26.2%），Primoris Services Corp同比增速更快（6.7% vs -9.8%），过去两年Primoris Services Corp的营收复合增速更高（14.7% vs -3.0%）
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。
Primoris Services Corp是总部位于美国的上市专业基建与工程建设企业，核心业务覆盖天然气管道、污水管网及供水管道建设领域，2014年入选《财富》1000强榜单，在北美能源及民生基建领域拥有丰富的项目运营经验。
PR vs PRIM — 直观对比
营收规模更大
PRIM
是对方的1.6倍
$1.2B
营收增速更快
PRIM
高出16.5%
-9.8%
净利率更高
PR
高出26.2%
2.8%
两年增速更快
PRIM
近两年复合增速
-3.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.9B |
| 净利润 | $339.5M | $51.7M |
| 毛利率 | — | 9.4% |
| 营业利润率 | 23.1% | 4.2% |
| 净利率 | 29.0% | 2.8% |
| 营收同比 | -9.8% | 6.7% |
| 净利润同比 | 56.7% | -4.2% |
| 每股收益（稀释后） | $0.48 | $0.94 |
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PRPRIM
| Q4 25 | $1.2B | $1.9B | ||
| Q3 25 | $1.3B | $2.2B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | $1.4B | $1.6B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.2B | $1.6B | ||
| Q2 24 | $1.2B | $1.6B | ||
| Q1 24 | $1.2B | $1.4B |
净利润PRPRIM
| Q4 25 | $339.5M | $51.7M | ||
| Q3 25 | $59.2M | $94.6M | ||
| Q2 25 | $207.1M | $84.3M | ||
| Q1 25 | $329.3M | $44.2M | ||
| Q4 24 | $216.7M | $54.0M | ||
| Q3 24 | $386.4M | $58.4M | ||
| Q2 24 | $235.1M | $49.5M | ||
| Q1 24 | $146.6M | $18.9M |
毛利率PRPRIM
| Q4 25 | — | 9.4% | ||
| Q3 25 | — | 10.8% | ||
| Q2 25 | — | 12.3% | ||
| Q1 25 | — | 10.4% | ||
| Q4 24 | — | 10.6% | ||
| Q3 24 | — | 12.0% | ||
| Q2 24 | — | 11.9% | ||
| Q1 24 | — | 9.4% |
营业利润率PRPRIM
| Q4 25 | 23.1% | 4.2% | ||
| Q3 25 | 29.6% | 6.3% | ||
| Q2 25 | 24.8% | 6.7% | ||
| Q1 25 | 36.6% | 4.3% | ||
| Q4 24 | 32.8% | 5.0% | ||
| Q3 24 | 32.5% | 6.0% | ||
| Q2 24 | 36.5% | 5.5% | ||
| Q1 24 | 37.7% | 3.1% |
净利率PRPRIM
| Q4 25 | 29.0% | 2.8% | ||
| Q3 25 | 4.5% | 4.3% | ||
| Q2 25 | 17.3% | 4.5% | ||
| Q1 25 | 23.9% | 2.7% | ||
| Q4 24 | 16.7% | 3.1% | ||
| Q3 24 | 31.8% | 3.5% | ||
| Q2 24 | 18.9% | 3.2% | ||
| Q1 24 | 11.8% | 1.3% |
每股收益（稀释后）PRPRIM
| Q4 25 | $0.48 | $0.94 | ||
| Q3 25 | $0.08 | $1.73 | ||
| Q2 25 | $0.28 | $1.54 | ||
| Q1 25 | $0.44 | $0.81 | ||
| Q4 24 | $0.31 | $0.98 | ||
| Q3 24 | $0.53 | $1.07 | ||
| Q2 24 | $0.36 | $0.91 | ||
| Q1 24 | $0.25 | $0.35 |
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 | $153.7M | $535.5M |
| 总债务越低越好 | $3.5B | $469.9M |
| 股东权益账面价值 | $10.3B | $1.7B |
| 总资产 | $17.9B | $4.4B |
| 负债/权益比越低杠杆越低 | 0.34× | 0.28× |
8季度趋势，按日历期对齐
现金及短期投资PRPRIM
| Q4 25 | $153.7M | $535.5M | ||
| Q3 25 | $111.8M | $431.4M | ||
| Q2 25 | $451.0M | $390.3M | ||
| Q1 25 | $702.2M | $351.6M | ||
| Q4 24 | $479.3M | $455.8M | ||
| Q3 24 | $272.0M | $352.7M | ||
| Q2 24 | $47.8M | $207.4M | ||
| Q1 24 | $12.7M | $177.6M |
总债务PRPRIM
| Q4 25 | $3.5B | $469.9M | ||
| Q3 25 | $3.5B | $486.0M | ||
| Q2 25 | $4.0B | $603.1M | ||
| Q1 25 | $4.0B | $612.0M | ||
| Q4 24 | $4.2B | $734.8M | ||
| Q3 24 | $4.2B | $903.7M | ||
| Q2 24 | $3.9B | $933.0M | ||
| Q1 24 | $3.9B | $951.7M |
股东权益PRPRIM
| Q4 25 | $10.3B | $1.7B | ||
| Q3 25 | $10.0B | $1.6B | ||
| Q2 25 | $9.5B | $1.5B | ||
| Q1 25 | $9.4B | $1.4B | ||
| Q4 24 | $9.1B | $1.4B | ||
| Q3 24 | $9.0B | $1.4B | ||
| Q2 24 | $8.3B | $1.3B | ||
| Q1 24 | $7.0B | $1.2B |
总资产PRPRIM
| Q4 25 | $17.9B | $4.4B | ||
| Q3 25 | $17.3B | $4.6B | ||
| Q2 25 | $17.5B | $4.5B | ||
| Q1 25 | $17.1B | $4.2B | ||
| Q4 24 | $16.9B | $4.2B | ||
| Q3 24 | $16.6B | $4.2B | ||
| Q2 24 | $15.4B | $4.0B | ||
| Q1 24 | $15.1B | $4.0B |
负债/权益比PRPRIM
| Q4 25 | 0.34× | 0.28× | ||
| Q3 25 | 0.35× | 0.30× | ||
| Q2 25 | 0.42× | 0.39× | ||
| Q1 25 | 0.43× | 0.42× | ||
| Q4 24 | 0.46× | 0.52× | ||
| Q3 24 | 0.47× | 0.67× | ||
| Q2 24 | 0.46× | 0.72× | ||
| Q1 24 | 0.56× | 0.76× |
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 | $904.3M | $142.9M |
| 自由现金流经营现金流 - 资本支出 | — | $121.1M |
| 自由现金流率自由现金流/营收 | — | 6.5% |
| 资本支出强度资本支出/营收 | — | 1.2% |
| 现金转化率经营现金流/净利润 | 2.66× | 2.76× |
| 过去12个月自由现金流最近4个季度 | — | $340.5M |
8季度趋势，按日历期对齐
经营现金流PRPRIM
| Q4 25 | $904.3M | $142.9M | ||
| Q3 25 | $766.5M | $182.9M | ||
| Q2 25 | $1.0B | $78.5M | ||
| Q1 25 | $898.0M | $66.2M | ||
| Q4 24 | $871.6M | $298.3M | ||
| Q3 24 | $954.4M | $222.5M | ||
| Q2 24 | $938.4M | $16.1M | ||
| Q1 24 | $647.6M | $-28.5M |
自由现金流PRPRIM
| Q4 25 | — | $121.1M | ||
| Q3 25 | — | $148.4M | ||
| Q2 25 | — | $45.3M | ||
| Q1 25 | — | $25.6M | ||
| Q4 24 | — | $270.0M | ||
| Q3 24 | — | $158.8M | ||
| Q2 24 | — | $-8.1M | ||
| Q1 24 | — | $-38.9M |
自由现金流率PRPRIM
| Q4 25 | — | 6.5% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | 15.5% | ||
| Q3 24 | — | 9.6% | ||
| Q2 24 | — | -0.5% | ||
| Q1 24 | — | -2.8% |
资本支出强度PRPRIM
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 3.9% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 0.7% |
现金转化率PRPRIM
| Q4 25 | 2.66× | 2.76× | ||
| Q3 25 | 12.94× | 1.93× | ||
| Q2 25 | 5.01× | 0.93× | ||
| Q1 25 | 2.73× | 1.50× | ||
| Q4 24 | 4.02× | 5.53× | ||
| Q3 24 | 2.47× | 3.81× | ||
| Q2 24 | 3.99× | 0.32× | ||
| Q1 24 | 4.42× | -1.50× |
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
PR
| Crude Oil | $1.0B | 87% |
| Natural Gas Liquids Reserves | $145.1M | 12% |
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
