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先锋自然资源公司（PR）与Constellation Brands（STZ）财务数据对比。点击上方公司名可切换其他公司
Constellation Brands的季度营收约是先锋自然资源公司的1.9倍（$2.2B vs $1.2B），先锋自然资源公司净利率更高（29.0% vs 22.6%，领先6.4%），先锋自然资源公司同比增速更快（-9.8% vs -9.8%），过去两年Constellation Brands的营收复合增速更高（1.9% 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。
Constellation Brands, Inc.是总部位于美国纽约州罗切斯特的《财富》500强企业，主营啤酒、葡萄酒及烈酒的生产与营销，按销售额计算是美国最大的啤酒进口商，在全美主要啤酒供应商中市场份额位列第三。公司还通过与Canopy Growth合作在医用及娱乐大麻领域有大额投资，现有约40处设施、近9000名员工。
PR vs STZ — 直观对比
营收规模更大
STZ
是对方的1.9倍
$1.2B
营收增速更快
PR
高出0.0%
-9.8%
净利率更高
PR
高出6.4%
22.6%
两年增速更快
STZ
近两年复合增速
-3.0%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $2.2B |
| 净利润 | $339.5M | $502.8M |
| 毛利率 | — | 53.2% |
| 营业利润率 | 23.1% | 31.1% |
| 净利率 | 29.0% | 22.6% |
| 营收同比 | -9.8% | -9.8% |
| 净利润同比 | 56.7% | -18.4% |
| 每股收益（稀释后） | $0.48 | — |
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PRSTZ
| Q4 25 | $1.2B | $2.2B | ||
| Q3 25 | $1.3B | $2.5B | ||
| Q2 25 | $1.2B | $2.5B | ||
| Q1 25 | $1.4B | $2.2B | ||
| Q4 24 | $1.3B | $2.5B | ||
| Q3 24 | $1.2B | $2.9B | ||
| Q2 24 | $1.2B | $2.7B | ||
| Q1 24 | $1.2B | $2.1B |
净利润PRSTZ
| Q4 25 | $339.5M | $502.8M | ||
| Q3 25 | $59.2M | $466.0M | ||
| Q2 25 | $207.1M | $516.1M | ||
| Q1 25 | $329.3M | $-375.3M | ||
| Q4 24 | $216.7M | $615.9M | ||
| Q3 24 | $386.4M | $-1.2B | ||
| Q2 24 | $235.1M | $877.0M | ||
| Q1 24 | $146.6M | $392.4M |
毛利率PRSTZ
| Q4 25 | — | 53.2% | ||
| Q3 25 | — | 52.8% | ||
| Q2 25 | — | 50.4% | ||
| Q1 25 | — | 51.5% | ||
| Q4 24 | — | 52.1% | ||
| Q3 24 | — | 51.8% | ||
| Q2 24 | — | 52.7% | ||
| Q1 24 | — | 48.6% |
营业利润率PRSTZ
| Q4 25 | 23.1% | 31.1% | ||
| Q3 25 | 29.6% | 35.2% | ||
| Q2 25 | 24.8% | 28.4% | ||
| Q1 25 | 36.6% | -6.9% | ||
| Q4 24 | 32.8% | 32.2% | ||
| Q3 24 | 32.5% | -42.1% | ||
| Q2 24 | 36.5% | 35.4% | ||
| Q1 24 | 37.7% | 29.4% |
净利率PRSTZ
| Q4 25 | 29.0% | 22.6% | ||
| Q3 25 | 4.5% | 18.8% | ||
| Q2 25 | 17.3% | 20.5% | ||
| Q1 25 | 23.9% | -17.3% | ||
| Q4 24 | 16.7% | 25.0% | ||
| Q3 24 | 31.8% | -41.1% | ||
| Q2 24 | 18.9% | 32.9% | ||
| Q1 24 | 11.8% | 18.3% |
每股收益（稀释后）PRSTZ
| Q4 25 | $0.48 | — | ||
| Q3 25 | $0.08 | — | ||
| Q2 25 | $0.28 | — | ||
| Q1 25 | $0.44 | — | ||
| Q4 24 | $0.31 | — | ||
| Q3 24 | $0.53 | — | ||
| Q2 24 | $0.36 | — | ||
| Q1 24 | $0.25 | — |
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 | $152.4M |
| 总债务越低越好 | $3.5B | $10.3B |
| 股东权益账面价值 | $10.3B | $7.7B |
| 总资产 | $17.9B | $21.7B |
| 负债/权益比越低杠杆越低 | 0.34× | 1.33× |
8季度趋势，按日历期对齐
现金及短期投资PRSTZ
| Q4 25 | $153.7M | $152.4M | ||
| Q3 25 | $111.8M | $72.0M | ||
| Q2 25 | $451.0M | $73.9M | ||
| Q1 25 | $702.2M | $68.1M | ||
| Q4 24 | $479.3M | $73.7M | ||
| Q3 24 | $272.0M | $64.6M | ||
| Q2 24 | $47.8M | $73.8M | ||
| Q1 24 | $12.7M | $152.4M |
总债务PRSTZ
| Q4 25 | $3.5B | $10.3B | ||
| Q3 25 | $3.5B | $10.3B | ||
| Q2 25 | $4.0B | $11.2B | ||
| Q1 25 | $4.0B | $10.7B | ||
| Q4 24 | $4.2B | $10.7B | ||
| Q3 24 | $4.2B | $11.1B | ||
| Q2 24 | $3.9B | $11.1B | ||
| Q1 24 | $3.9B | $11.6B |
股东权益PRSTZ
| Q4 25 | $10.3B | $7.7B | ||
| Q3 25 | $10.0B | $7.5B | ||
| Q2 25 | $9.5B | $7.3B | ||
| Q1 25 | $9.4B | $6.9B | ||
| Q4 24 | $9.1B | $7.8B | ||
| Q3 24 | $9.0B | $7.9B | ||
| Q2 24 | $8.3B | $10.3B | ||
| Q1 24 | $7.0B | $9.7B |
总资产PRSTZ
| Q4 25 | $17.9B | $21.7B | ||
| Q3 25 | $17.3B | $21.4B | ||
| Q2 25 | $17.5B | $22.3B | ||
| Q1 25 | $17.1B | $21.7B | ||
| Q4 24 | $16.9B | $22.8B | ||
| Q3 24 | $16.6B | $23.1B | ||
| Q2 24 | $15.4B | $26.1B | ||
| Q1 24 | $15.1B | $25.7B |
负债/权益比PRSTZ
| Q4 25 | 0.34× | 1.33× | ||
| Q3 25 | 0.35× | 1.37× | ||
| Q2 25 | 0.42× | 1.54× | ||
| Q1 25 | 0.43× | 1.55× | ||
| Q4 24 | 0.46× | 1.37× | ||
| Q3 24 | 0.47× | 1.41× | ||
| Q2 24 | 0.46× | 1.08× | ||
| Q1 24 | 0.56× | 1.19× |
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 | $616.9M |
| 自由现金流经营现金流 - 资本支出 | — | $370.9M |
| 自由现金流率自由现金流/营收 | — | 16.7% |
| 资本支出强度资本支出/营收 | — | 11.1% |
| 现金转化率经营现金流/净利润 | 2.66× | 1.23× |
| 过去12个月自由现金流最近4个季度 | — | $1.8B |
8季度趋势，按日历期对齐
经营现金流PRSTZ
| Q4 25 | $904.3M | $616.9M | ||
| Q3 25 | $766.5M | $852.1M | ||
| Q2 25 | $1.0B | $637.2M | ||
| Q1 25 | $898.0M | $594.7M | ||
| Q4 24 | $871.6M | $685.2M | ||
| Q3 24 | $954.4M | $1.2B | ||
| Q2 24 | $938.4M | $690.5M | ||
| Q1 24 | $647.6M | $433.2M |
自由现金流PRSTZ
| Q4 25 | — | $370.9M | ||
| Q3 25 | — | $634.8M | ||
| Q2 25 | — | $444.4M | ||
| Q1 25 | — | $312.1M | ||
| Q4 24 | — | $456.8M | ||
| Q3 24 | — | $854.0M | ||
| Q2 24 | — | $315.2M | ||
| Q1 24 | — | $76.0M |
自由现金流率PRSTZ
| Q4 25 | — | 16.7% | ||
| Q3 25 | — | 25.6% | ||
| Q2 25 | — | 17.7% | ||
| Q1 25 | — | 14.4% | ||
| Q4 24 | — | 18.5% | ||
| Q3 24 | — | 29.3% | ||
| Q2 24 | — | 11.8% | ||
| Q1 24 | — | 3.6% |
资本支出强度PRSTZ
| Q4 25 | — | 11.1% | ||
| Q3 25 | — | 8.8% | ||
| Q2 25 | — | 7.7% | ||
| Q1 25 | — | 13.1% | ||
| Q4 24 | — | 9.3% | ||
| Q3 24 | — | 11.2% | ||
| Q2 24 | — | 14.1% | ||
| Q1 24 | — | 16.7% |
现金转化率PRSTZ
| Q4 25 | 2.66× | 1.23× | ||
| Q3 25 | 12.94× | 1.83× | ||
| Q2 25 | 5.01× | 1.23× | ||
| Q1 25 | 2.73× | — | ||
| Q4 24 | 4.02× | 1.11× | ||
| Q3 24 | 2.47× | — | ||
| Q2 24 | 3.99× | 0.79× | ||
| Q1 24 | 4.42× | 1.10× |
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% |
STZ
| Beer | $2.0B | 90% |
| Constellation Wines And Spirits | $213.1M | 10% |
