vs
先锋自然资源公司（PR）与UNITED THERAPEUTICS Corp（UTHR）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UNITED THERAPEUTICS Corp的1.5倍（$1.2B vs $790.2M），UNITED THERAPEUTICS Corp净利率更高（46.1% vs 29.0%，领先17.1%），UNITED THERAPEUTICS Corp同比增速更快（7.4% vs -9.8%），过去两年UNITED THERAPEUTICS Corp的营收复合增速更高（8.0% 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。
United Therapeutics是美国生物技术企业，专注开发包含异种移植在内的器官移植相关药物与技术，多款产品布局肺部疾病及器官制造赛道，双总部位于马里兰州银泉与北卡罗来纳州三角研究园，在美加多地设有研发及运营分支机构。
PR vs UTHR — 直观对比
营收规模更大
PR
是对方的1.5倍
$790.2M
营收增速更快
UTHR
高出17.2%
-9.8%
净利率更高
UTHR
高出17.1%
29.0%
两年增速更快
UTHR
近两年复合增速
-3.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $790.2M |
| 净利润 | $339.5M | $364.3M |
| 毛利率 | — | 86.9% |
| 营业利润率 | 23.1% | 45.1% |
| 净利率 | 29.0% | 46.1% |
| 营收同比 | -9.8% | 7.4% |
| 净利润同比 | 56.7% | 20.9% |
| 每股收益（稀释后） | $0.48 | $7.66 |
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PRUTHR
| Q4 25 | $1.2B | $790.2M | ||
| Q3 25 | $1.3B | $799.5M | ||
| Q2 25 | $1.2B | $798.6M | ||
| Q1 25 | $1.4B | $794.4M | ||
| Q4 24 | $1.3B | $735.9M | ||
| Q3 24 | $1.2B | $748.9M | ||
| Q2 24 | $1.2B | $714.9M | ||
| Q1 24 | $1.2B | $677.7M |
净利润PRUTHR
| Q4 25 | $339.5M | $364.3M | ||
| Q3 25 | $59.2M | $338.7M | ||
| Q2 25 | $207.1M | $309.5M | ||
| Q1 25 | $329.3M | $322.2M | ||
| Q4 24 | $216.7M | $301.3M | ||
| Q3 24 | $386.4M | $309.1M | ||
| Q2 24 | $235.1M | $278.1M | ||
| Q1 24 | $146.6M | $306.6M |
毛利率PRUTHR
| Q4 25 | — | 86.9% | ||
| Q3 25 | — | 87.4% | ||
| Q2 25 | — | 89.0% | ||
| Q1 25 | — | 88.4% | ||
| Q4 24 | — | 89.7% | ||
| Q3 24 | — | 88.9% | ||
| Q2 24 | — | 89.1% | ||
| Q1 24 | — | 89.2% |
营业利润率PRUTHR
| Q4 25 | 23.1% | 45.1% | ||
| Q3 25 | 29.6% | 48.6% | ||
| Q2 25 | 24.8% | 45.6% | ||
| Q1 25 | 36.6% | 48.2% | ||
| Q4 24 | 32.8% | 48.6% | ||
| Q3 24 | 32.5% | 45.8% | ||
| Q2 24 | 36.5% | 44.7% | ||
| Q1 24 | 37.7% | 52.6% |
净利率PRUTHR
| Q4 25 | 29.0% | 46.1% | ||
| Q3 25 | 4.5% | 42.4% | ||
| Q2 25 | 17.3% | 38.8% | ||
| Q1 25 | 23.9% | 40.6% | ||
| Q4 24 | 16.7% | 40.9% | ||
| Q3 24 | 31.8% | 41.3% | ||
| Q2 24 | 18.9% | 38.9% | ||
| Q1 24 | 11.8% | 45.2% |
每股收益（稀释后）PRUTHR
| Q4 25 | $0.48 | $7.66 | ||
| Q3 25 | $0.08 | $7.16 | ||
| Q2 25 | $0.28 | $6.41 | ||
| Q1 25 | $0.44 | $6.63 | ||
| Q4 24 | $0.31 | $6.23 | ||
| Q3 24 | $0.53 | $6.39 | ||
| Q2 24 | $0.36 | $5.85 | ||
| Q1 24 | $0.25 | $6.17 |
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 | $2.9B |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $10.3B | $7.1B |
| 总资产 | $17.9B | $7.9B |
| 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PRUTHR
| Q4 25 | $153.7M | $2.9B | ||
| Q3 25 | $111.8M | $2.8B | ||
| Q2 25 | $451.0M | $3.0B | ||
| Q1 25 | $702.2M | $3.3B | ||
| Q4 24 | $479.3M | $3.3B | ||
| Q3 24 | $272.0M | $3.3B | ||
| Q2 24 | $47.8M | $3.0B | ||
| Q1 24 | $12.7M | $2.7B |
总债务PRUTHR
| 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PRUTHR
| Q4 25 | $10.3B | $7.1B | ||
| Q3 25 | $10.0B | $6.6B | ||
| Q2 25 | $9.5B | $7.2B | ||
| Q1 25 | $9.4B | $6.8B | ||
| Q4 24 | $9.1B | $6.4B | ||
| Q3 24 | $9.0B | $6.1B | ||
| Q2 24 | $8.3B | $5.7B | ||
| Q1 24 | $7.0B | $5.3B |
总资产PRUTHR
| Q4 25 | $17.9B | $7.9B | ||
| Q3 25 | $17.3B | $7.4B | ||
| Q2 25 | $17.5B | $7.9B | ||
| Q1 25 | $17.1B | $7.7B | ||
| Q4 24 | $16.9B | $7.4B | ||
| Q3 24 | $16.6B | $7.1B | ||
| Q2 24 | $15.4B | $6.7B | ||
| Q1 24 | $15.1B | $6.5B |
负债/权益比PRUTHR
| 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 | $346.2M |
| 自由现金流经营现金流 - 资本支出 | — | $173.3M |
| 自由现金流率自由现金流/营收 | — | 21.9% |
| 资本支出强度资本支出/营收 | — | 21.9% |
| 现金转化率经营现金流/净利润 | 2.66× | 0.95× |
| 过去12个月自由现金流最近4个季度 | — | $1.0B |
8季度趋势，按日历期对齐
经营现金流PRUTHR
| Q4 25 | $904.3M | $346.2M | ||
| Q3 25 | $766.5M | $562.1M | ||
| Q2 25 | $1.0B | $191.7M | ||
| Q1 25 | $898.0M | $461.2M | ||
| Q4 24 | $871.6M | $341.2M | ||
| Q3 24 | $954.4M | $377.2M | ||
| Q2 24 | $938.4M | $232.2M | ||
| Q1 24 | $647.6M | $376.5M |
自由现金流PRUTHR
| Q4 25 | — | $173.3M | ||
| Q3 25 | — | $351.6M | ||
| Q2 25 | — | $129.5M | ||
| Q1 25 | — | $386.3M | ||
| Q4 24 | — | $254.5M | ||
| Q3 24 | — | $300.7M | ||
| Q2 24 | — | $187.1M | ||
| Q1 24 | — | $338.3M |
自由现金流率PRUTHR
| Q4 25 | — | 21.9% | ||
| Q3 25 | — | 44.0% | ||
| Q2 25 | — | 16.2% | ||
| Q1 25 | — | 48.6% | ||
| Q4 24 | — | 34.6% | ||
| Q3 24 | — | 40.2% | ||
| Q2 24 | — | 26.2% | ||
| Q1 24 | — | 49.9% |
资本支出强度PRUTHR
| Q4 25 | — | 21.9% | ||
| Q3 25 | — | 26.3% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | 9.4% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 10.2% | ||
| Q2 24 | — | 6.3% | ||
| Q1 24 | — | 5.6% |
现金转化率PRUTHR
| Q4 25 | 2.66× | 0.95× | ||
| Q3 25 | 12.94× | 1.66× | ||
| Q2 25 | 5.01× | 0.62× | ||
| Q1 25 | 2.73× | 1.43× | ||
| Q4 24 | 4.02× | 1.13× | ||
| Q3 24 | 2.47× | 1.22× | ||
| Q2 24 | 3.99× | 0.83× | ||
| Q1 24 | 4.42× | 1.23× |
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% |
UTHR
| Tyvaso DPI | $338.6M | 43% |
| Remodulin | $128.0M | 16% |
| Nebulized Tyvaso | $125.7M | 16% |
| Orenitram | $121.2M | 15% |
| Unituxin | $62.3M | 8% |
| Adcirca | $7.8M | 1% |
| Other | $6.6M | 1% |
