vs
先锋自然资源公司（PR）与RH（RH）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RH的1.3倍（$1.2B vs $883.8M），先锋自然资源公司净利率更高（29.0% vs 4.1%，领先24.9%），RH同比增速更快（8.9% vs -9.8%），过去两年RH的营收复合增速更高（9.4% 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。
RH是美国高端家居品牌，总部位于加利福尼亚州科尔特马德拉。品牌通过线下零售门店、产品目录和线上渠道发售家居商品，截至2018年8月，在美国和加拿大共运营70家展示馆、18家全系列设计展示馆、3家婴童家居展示馆，另有36家奥莱门店。
PR vs RH — 直观对比
营收规模更大
PR
是对方的1.3倍
$883.8M
营收增速更快
RH
高出18.7%
-9.8%
净利率更高
PR
高出24.9%
4.1%
两年增速更快
RH
近两年复合增速
-3.0%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $883.8M |
| 净利润 | $339.5M | $36.3M |
| 毛利率 | — | 44.1% |
| 营业利润率 | 23.1% | 12.0% |
| 净利率 | 29.0% | 4.1% |
| 营收同比 | -9.8% | 8.9% |
| 净利润同比 | 56.7% | 9.3% |
| 每股收益（稀释后） | $0.48 | $1.83 |
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PRRH
| Q4 25 | $1.2B | $883.8M | ||
| Q3 25 | $1.3B | $899.2M | ||
| Q2 25 | $1.2B | $814.0M | ||
| Q1 25 | $1.4B | $812.4M | ||
| Q4 24 | $1.3B | $811.7M | ||
| Q3 24 | $1.2B | $829.7M | ||
| Q2 24 | $1.2B | $727.0M | ||
| Q1 24 | $1.2B | $738.3M |
净利润PRRH
| Q4 25 | $339.5M | $36.3M | ||
| Q3 25 | $59.2M | $51.7M | ||
| Q2 25 | $207.1M | $8.0M | ||
| Q1 25 | $329.3M | $13.9M | ||
| Q4 24 | $216.7M | $33.2M | ||
| Q3 24 | $386.4M | $29.0M | ||
| Q2 24 | $235.1M | $-3.6M | ||
| Q1 24 | $146.6M | $11.4M |
毛利率PRRH
| Q4 25 | — | 44.1% | ||
| Q3 25 | — | 45.5% | ||
| Q2 25 | — | 43.7% | ||
| Q1 25 | — | 44.7% | ||
| Q4 24 | — | 44.5% | ||
| Q3 24 | — | 45.2% | ||
| Q2 24 | — | 43.5% | ||
| Q1 24 | — | 43.5% |
营业利润率PRRH
| Q4 25 | 23.1% | 12.0% | ||
| Q3 25 | 29.6% | 14.3% | ||
| Q2 25 | 24.8% | 6.9% | ||
| Q1 25 | 36.6% | 8.7% | ||
| Q4 24 | 32.8% | 12.5% | ||
| Q3 24 | 32.5% | 11.6% | ||
| Q2 24 | 36.5% | 7.5% | ||
| Q1 24 | 37.7% | 8.7% |
净利率PRRH
| Q4 25 | 29.0% | 4.1% | ||
| Q3 25 | 4.5% | 5.8% | ||
| Q2 25 | 17.3% | 1.0% | ||
| Q1 25 | 23.9% | 1.7% | ||
| Q4 24 | 16.7% | 4.1% | ||
| Q3 24 | 31.8% | 3.5% | ||
| Q2 24 | 18.9% | -0.5% | ||
| Q1 24 | 11.8% | 1.5% |
每股收益（稀释后）PRRH
| Q4 25 | $0.48 | $1.83 | ||
| Q3 25 | $0.08 | $2.62 | ||
| Q2 25 | $0.28 | $0.40 | ||
| Q1 25 | $0.44 | $0.71 | ||
| Q4 24 | $0.31 | $1.66 | ||
| Q3 24 | $0.53 | $1.45 | ||
| Q2 24 | $0.36 | $-0.20 | ||
| Q1 24 | $0.25 | $0.91 |
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 | $43.1M |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $10.3B | $3.3M |
| 总资产 | $17.9B | $4.8B |
| 负债/权益比越低杠杆越低 | 0.34× | — |
8季度趋势，按日历期对齐
现金及短期投资PRRH
| Q4 25 | $153.7M | $43.1M | ||
| Q3 25 | $111.8M | $34.6M | ||
| Q2 25 | $451.0M | $46.1M | ||
| Q1 25 | $702.2M | $30.4M | ||
| Q4 24 | $479.3M | $87.0M | ||
| Q3 24 | $272.0M | $78.3M | ||
| Q2 24 | $47.8M | $101.8M | ||
| Q1 24 | $12.7M | $123.7M |
总债务PRRH
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.5B | — | ||
| Q2 25 | $4.0B | — | ||
| Q1 25 | $4.0B | — | ||
| Q4 24 | $4.2B | — | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $3.9B | — | ||
| Q1 24 | $3.9B | — |
股东权益PRRH
| Q4 25 | $10.3B | $3.3M | ||
| Q3 25 | $10.0B | $-40.9M | ||
| Q2 25 | $9.5B | $-110.8M | ||
| Q1 25 | $9.4B | $-163.6M | ||
| Q4 24 | $9.1B | $-183.0M | ||
| Q3 24 | $9.0B | $-234.7M | ||
| Q2 24 | $8.3B | $-289.9M | ||
| Q1 24 | $7.0B | $-297.4M |
总资产PRRH
| Q4 25 | $17.9B | $4.8B | ||
| Q3 25 | $17.3B | $4.7B | ||
| Q2 25 | $17.5B | $4.7B | ||
| Q1 25 | $17.1B | $4.6B | ||
| Q4 24 | $16.9B | $4.5B | ||
| Q3 24 | $16.6B | $4.4B | ||
| Q2 24 | $15.4B | $4.2B | ||
| Q1 24 | $15.1B | $4.1B |
负债/权益比PRRH
| Q4 25 | 0.34× | — | ||
| Q3 25 | 0.35× | — | ||
| Q2 25 | 0.42× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.46× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.46× | — | ||
| Q1 24 | 0.56× | — |
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 | $131.9M |
| 自由现金流经营现金流 - 资本支出 | — | $83.0M |
| 自由现金流率自由现金流/营收 | — | 9.4% |
| 资本支出强度资本支出/营收 | — | 5.5% |
| 现金转化率经营现金流/净利润 | 2.66× | 3.64× |
| 过去12个月自由现金流最近4个季度 | — | $128.1M |
8季度趋势，按日历期对齐
经营现金流PRRH
| Q4 25 | $904.3M | $131.9M | ||
| Q3 25 | $766.5M | $137.7M | ||
| Q2 25 | $1.0B | $86.6M | ||
| Q1 25 | $898.0M | $-18.8M | ||
| Q4 24 | $871.6M | $-31.4M | ||
| Q3 24 | $954.4M | $11.2M | ||
| Q2 24 | $938.4M | $56.1M | ||
| Q1 24 | $647.6M | $-114.0M |
自由现金流PRRH
| Q4 25 | — | $83.0M | ||
| Q3 25 | — | $80.7M | ||
| Q2 25 | — | $34.1M | ||
| Q1 25 | — | $-69.7M | ||
| Q4 24 | — | $-96.0M | ||
| Q3 24 | — | $-37.9M | ||
| Q2 24 | — | $-10.1M | ||
| Q1 24 | — | $-251.5M |
自由现金流率PRRH
| Q4 25 | — | 9.4% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | — | 4.2% | ||
| Q1 25 | — | -8.6% | ||
| Q4 24 | — | -11.8% | ||
| Q3 24 | — | -4.6% | ||
| Q2 24 | — | -1.4% | ||
| Q1 24 | — | -34.1% |
资本支出强度PRRH
| Q4 25 | — | 5.5% | ||
| Q3 25 | — | 6.3% | ||
| Q2 25 | — | 6.5% | ||
| Q1 25 | — | 6.3% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | — | 5.9% | ||
| Q2 24 | — | 9.1% | ||
| Q1 24 | — | 18.6% |
现金转化率PRRH
| Q4 25 | 2.66× | 3.64× | ||
| Q3 25 | 12.94× | 2.66× | ||
| Q2 25 | 5.01× | 10.78× | ||
| Q1 25 | 2.73× | -1.35× | ||
| Q4 24 | 4.02× | -0.95× | ||
| Q3 24 | 2.47× | 0.39× | ||
| Q2 24 | 3.99× | — | ||
| Q1 24 | 4.42× | -10.01× |
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% |
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
