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先锋自然资源公司（PR）与PTC Inc.（PTC）财务数据对比。点击上方公司名可切换其他公司
先锋自然资源公司的季度营收约是PTC Inc.的1.7倍（$1.2B vs $685.8M），先锋自然资源公司净利率更高（29.0% vs 24.3%，领先4.8%），PTC Inc.同比增速更快（21.4% vs -9.8%），过去两年PTC Inc.的营收复合增速更高（6.6% 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。
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
PR vs PTC — 直观对比
营收规模更大
PR
是对方的1.7倍
$685.8M
营收增速更快
PTC
高出31.1%
-9.8%
净利率更高
PR
高出4.8%
24.3%
两年增速更快
PTC
近两年复合增速
-3.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $685.8M |
| 净利润 | $339.5M | $166.5M |
| 毛利率 | — | 82.8% |
| 营业利润率 | 23.1% | 32.2% |
| 净利率 | 29.0% | 24.3% |
| 营收同比 | -9.8% | 21.4% |
| 净利润同比 | 56.7% | 102.5% |
| 每股收益（稀释后） | $0.48 | $1.39 |
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PRPTC
| Q4 25 | $1.2B | $685.8M | ||
| Q3 25 | $1.3B | $893.8M | ||
| Q2 25 | $1.2B | $643.9M | ||
| Q1 25 | $1.4B | $636.4M | ||
| Q4 24 | $1.3B | $565.1M | ||
| Q3 24 | $1.2B | $626.5M | ||
| Q2 24 | $1.2B | $518.6M | ||
| Q1 24 | $1.2B | $603.1M |
净利润PRPTC
| Q4 25 | $339.5M | $166.5M | ||
| Q3 25 | $59.2M | $347.8M | ||
| Q2 25 | $207.1M | $141.3M | ||
| Q1 25 | $329.3M | $162.6M | ||
| Q4 24 | $216.7M | $82.2M | ||
| Q3 24 | $386.4M | $126.5M | ||
| Q2 24 | $235.1M | $69.0M | ||
| Q1 24 | $146.6M | $114.4M |
毛利率PRPTC
| Q4 25 | — | 82.8% | ||
| Q3 25 | — | 86.9% | ||
| Q2 25 | — | 82.9% | ||
| Q1 25 | — | 83.3% | ||
| Q4 24 | — | 80.2% | ||
| Q3 24 | — | 82.0% | ||
| Q2 24 | — | 78.4% | ||
| Q1 24 | — | 81.8% |
营业利润率PRPTC
| Q4 25 | 23.1% | 32.2% | ||
| Q3 25 | 29.6% | 48.5% | ||
| Q2 25 | 24.8% | 32.6% | ||
| Q1 25 | 36.6% | 35.1% | ||
| Q4 24 | 32.8% | 20.4% | ||
| Q3 24 | 32.5% | 31.0% | ||
| Q2 24 | 36.5% | 18.5% | ||
| Q1 24 | 37.7% | 29.8% |
净利率PRPTC
| Q4 25 | 29.0% | 24.3% | ||
| Q3 25 | 4.5% | 38.9% | ||
| Q2 25 | 17.3% | 21.9% | ||
| Q1 25 | 23.9% | 25.6% | ||
| Q4 24 | 16.7% | 14.6% | ||
| Q3 24 | 31.8% | 20.2% | ||
| Q2 24 | 18.9% | 13.3% | ||
| Q1 24 | 11.8% | 19.0% |
每股收益（稀释后）PRPTC
| Q4 25 | $0.48 | $1.39 | ||
| Q3 25 | $0.08 | $2.88 | ||
| Q2 25 | $0.28 | $1.17 | ||
| Q1 25 | $0.44 | $1.35 | ||
| Q4 24 | $0.31 | $0.68 | ||
| Q3 24 | $0.53 | $1.05 | ||
| Q2 24 | $0.36 | $0.57 | ||
| Q1 24 | $0.25 | $0.95 |
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 | $209.7M |
| 总债务越低越好 | $3.5B | $1.2B |
| 股东权益账面价值 | $10.3B | $3.8B |
| 总资产 | $17.9B | $6.4B |
| 负债/权益比越低杠杆越低 | 0.34× | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资PRPTC
| Q4 25 | $153.7M | $209.7M | ||
| Q3 25 | $111.8M | $184.4M | ||
| Q2 25 | $451.0M | $199.3M | ||
| Q1 25 | $702.2M | $235.2M | ||
| Q4 24 | $479.3M | $196.3M | ||
| Q3 24 | $272.0M | $265.8M | ||
| Q2 24 | $47.8M | $247.7M | ||
| Q1 24 | $12.7M | $249.0M |
总债务PRPTC
| Q4 25 | $3.5B | $1.2B | ||
| Q3 25 | $3.5B | $1.2B | ||
| Q2 25 | $4.0B | $1.2B | ||
| Q1 25 | $4.0B | $1.4B | ||
| Q4 24 | $4.2B | $1.0B | ||
| Q3 24 | $4.2B | $1.2B | ||
| Q2 24 | $3.9B | $1.3B | ||
| Q1 24 | $3.9B | $1.5B |
股东权益PRPTC
| Q4 25 | $10.3B | $3.8B | ||
| Q3 25 | $10.0B | $3.8B | ||
| Q2 25 | $9.5B | $3.5B | ||
| Q1 25 | $9.4B | $3.4B | ||
| Q4 24 | $9.1B | $3.2B | ||
| Q3 24 | $9.0B | $3.2B | ||
| Q2 24 | $8.3B | $3.0B | ||
| Q1 24 | $7.0B | $2.9B |
总资产PRPTC
| Q4 25 | $17.9B | $6.4B | ||
| Q3 25 | $17.3B | $6.6B | ||
| Q2 25 | $17.5B | $6.2B | ||
| Q1 25 | $17.1B | $6.2B | ||
| Q4 24 | $16.9B | $6.1B | ||
| Q3 24 | $16.6B | $6.4B | ||
| Q2 24 | $15.4B | $6.1B | ||
| Q1 24 | $15.1B | $6.2B |
负债/权益比PRPTC
| Q4 25 | 0.34× | 0.31× | ||
| Q3 25 | 0.35× | 0.31× | ||
| Q2 25 | 0.42× | 0.34× | ||
| Q1 25 | 0.43× | 0.40× | ||
| Q4 24 | 0.46× | 0.32× | ||
| Q3 24 | 0.47× | 0.38× | ||
| Q2 24 | 0.46× | 0.43× | ||
| Q1 24 | 0.56× | 0.51× |
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 | $269.7M |
| 自由现金流经营现金流 - 资本支出 | — | $267.4M |
| 自由现金流率自由现金流/营收 | — | 39.0% |
| 资本支出强度资本支出/营收 | — | 0.3% |
| 现金转化率经营现金流/净利润 | 2.66× | 1.62× |
| 过去12个月自由现金流最近4个季度 | — | $888.4M |
8季度趋势，按日历期对齐
经营现金流PRPTC
| Q4 25 | $904.3M | $269.7M | ||
| Q3 25 | $766.5M | $104.0M | ||
| Q2 25 | $1.0B | $243.9M | ||
| Q1 25 | $898.0M | $281.3M | ||
| Q4 24 | $871.6M | $238.4M | ||
| Q3 24 | $954.4M | $98.1M | ||
| Q2 24 | $938.4M | $213.8M | ||
| Q1 24 | $647.6M | $250.7M |
自由现金流PRPTC
| Q4 25 | — | $267.4M | ||
| Q3 25 | — | $100.5M | ||
| Q2 25 | — | $242.0M | ||
| Q1 25 | — | $278.5M | ||
| Q4 24 | — | $235.7M | ||
| Q3 24 | — | $93.6M | ||
| Q2 24 | — | $212.2M | ||
| Q1 24 | — | $247.1M |
自由现金流率PRPTC
| Q4 25 | — | 39.0% | ||
| Q3 25 | — | 11.2% | ||
| Q2 25 | — | 37.6% | ||
| Q1 25 | — | 43.8% | ||
| Q4 24 | — | 41.7% | ||
| Q3 24 | — | 14.9% | ||
| Q2 24 | — | 40.9% | ||
| Q1 24 | — | 41.0% |
资本支出强度PRPTC
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.6% |
现金转化率PRPTC
| Q4 25 | 2.66× | 1.62× | ||
| Q3 25 | 12.94× | 0.30× | ||
| Q2 25 | 5.01× | 1.73× | ||
| Q1 25 | 2.73× | 1.73× | ||
| Q4 24 | 4.02× | 2.90× | ||
| Q3 24 | 2.47× | 0.78× | ||
| Q2 24 | 3.99× | 3.10× | ||
| Q1 24 | 4.42× | 2.19× |
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% |
PTC
| Support And Cloud Services | $393.3M | 57% |
| License | $269.7M | 39% |
| Technology Service | $22.9M | 3% |
| Perpetual License | $5.6M | 1% |
