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先锋自然资源公司（PR）与WHITE MOUNTAINS INSURANCE GROUP LTD（WTM）财务数据对比。点击上方公司名可切换其他公司
WHITE MOUNTAINS INSURANCE GROUP LTD的季度营收约是先锋自然资源公司的1.4倍（$1.6B vs $1.2B），WHITE MOUNTAINS INSURANCE GROUP LTD净利率更高（52.1% vs 29.0%，领先23.1%），WHITE MOUNTAINS INSURANCE GROUP LTD同比增速更快（348.0% vs -9.8%），过去两年WHITE MOUNTAINS INSURANCE GROUP LTD的营收复合增速更高（57.4% 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。
怀特山保险集团是一家多元化保险及相关金融服务控股企业，总部位于百慕大汉密尔顿，1999年10月25日从美国特拉华州迁册至当前注册地，大部分业务通过旗下保险子公司及其他关联机构开展，覆盖多个保险及金融服务细分赛道。
PR vs WTM — 直观对比
营收规模更大
WTM
是对方的1.4倍
$1.2B
营收增速更快
WTM
高出357.8%
-9.8%
净利率更高
WTM
高出23.1%
29.0%
两年增速更快
WTM
近两年复合增速
-3.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.6B |
| 净利润 | $339.5M | $835.8M |
| 毛利率 | — | 97.1% |
| 营业利润率 | 23.1% | 56.2% |
| 净利率 | 29.0% | 52.1% |
| 营收同比 | -9.8% | 348.0% |
| 净利润同比 | 56.7% | 741.0% |
| 每股收益（稀释后） | $0.48 | $325.02 |
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PRWTM
| Q4 25 | $1.2B | $1.6B | ||
| Q3 25 | $1.3B | $864.2M | ||
| Q2 25 | $1.2B | $689.2M | ||
| Q1 25 | $1.4B | $577.8M | ||
| Q4 24 | $1.3B | $358.0M | ||
| Q3 24 | $1.2B | $839.1M | ||
| Q2 24 | $1.2B | $395.4M | ||
| Q1 24 | $1.2B | $647.3M |
净利润PRWTM
| Q4 25 | $339.5M | $835.8M | ||
| Q3 25 | $59.2M | $113.8M | ||
| Q2 25 | $207.1M | $122.9M | ||
| Q1 25 | $329.3M | $33.9M | ||
| Q4 24 | $216.7M | $-130.4M | ||
| Q3 24 | $386.4M | $179.0M | ||
| Q2 24 | $235.1M | $-54.6M | ||
| Q1 24 | $146.6M | $236.4M |
毛利率PRWTM
| Q4 25 | — | 97.1% | ||
| Q3 25 | — | 93.6% | ||
| Q2 25 | — | 93.8% | ||
| Q1 25 | — | 98.7% | ||
| Q4 24 | — | 97.9% | ||
| Q3 24 | — | 99.1% | ||
| Q2 24 | — | 98.2% | ||
| Q1 24 | — | 98.8% |
营业利润率PRWTM
| Q4 25 | 23.1% | 56.2% | ||
| Q3 25 | 29.6% | 20.7% | ||
| Q2 25 | 24.8% | 25.6% | ||
| Q1 25 | 36.6% | 12.5% | ||
| Q4 24 | 32.8% | -33.7% | ||
| Q3 24 | 32.5% | 28.5% | ||
| Q2 24 | 36.5% | -8.8% | ||
| Q1 24 | 37.7% | 35.9% |
净利率PRWTM
| Q4 25 | 29.0% | 52.1% | ||
| Q3 25 | 4.5% | 13.2% | ||
| Q2 25 | 17.3% | 17.8% | ||
| Q1 25 | 23.9% | 5.9% | ||
| Q4 24 | 16.7% | -36.4% | ||
| Q3 24 | 31.8% | 21.3% | ||
| Q2 24 | 18.9% | -13.8% | ||
| Q1 24 | 11.8% | 36.5% |
每股收益（稀释后）PRWTM
| Q4 25 | $0.48 | $325.02 | ||
| Q3 25 | $0.08 | $44.18 | ||
| Q2 25 | $0.28 | $47.75 | ||
| Q1 25 | $0.44 | $13.19 | ||
| Q4 24 | $0.31 | $-50.98 | ||
| Q3 24 | $0.53 | $69.68 | ||
| Q2 24 | $0.36 | $-21.24 | ||
| Q1 24 | $0.25 | $92.33 |
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 | — |
| 总债务越低越好 | $3.5B | $837.0M |
| 股东权益账面价值 | $10.3B | $5.4B |
| 总资产 | $17.9B | $12.3B |
| 负债/权益比越低杠杆越低 | 0.34× | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资PRWTM
| Q4 25 | $153.7M | — | ||
| Q3 25 | $111.8M | — | ||
| Q2 25 | $451.0M | — | ||
| Q1 25 | $702.2M | — | ||
| Q4 24 | $479.3M | — | ||
| Q3 24 | $272.0M | — | ||
| Q2 24 | $47.8M | — | ||
| Q1 24 | $12.7M | — |
总债务PRWTM
| Q4 25 | $3.5B | $837.0M | ||
| Q3 25 | $3.5B | $870.4M | ||
| Q2 25 | $4.0B | $694.6M | ||
| Q1 25 | $4.0B | $676.1M | ||
| Q4 24 | $4.2B | $562.5M | ||
| Q3 24 | $4.2B | $544.9M | ||
| Q2 24 | $3.9B | $530.2M | ||
| Q1 24 | $3.9B | $532.1M |
股东权益PRWTM
| Q4 25 | $10.3B | $5.4B | ||
| Q3 25 | $10.0B | $4.8B | ||
| Q2 25 | $9.5B | $4.6B | ||
| Q1 25 | $9.4B | $4.5B | ||
| Q4 24 | $9.1B | $4.5B | ||
| Q3 24 | $9.0B | $4.6B | ||
| Q2 24 | $8.3B | $4.4B | ||
| Q1 24 | $7.0B | $4.5B |
总资产PRWTM
| Q4 25 | $17.9B | $12.3B | ||
| Q3 25 | $17.3B | $12.3B | ||
| Q2 25 | $17.5B | $11.8B | ||
| Q1 25 | $17.1B | $11.0B | ||
| Q4 24 | $16.9B | $9.9B | ||
| Q3 24 | $16.6B | $10.3B | ||
| Q2 24 | $15.4B | $10.2B | ||
| Q1 24 | $15.1B | $9.6B |
负债/权益比PRWTM
| Q4 25 | 0.34× | 0.15× | ||
| Q3 25 | 0.35× | 0.18× | ||
| Q2 25 | 0.42× | 0.15× | ||
| Q1 25 | 0.43× | 0.15× | ||
| Q4 24 | 0.46× | 0.13× | ||
| Q3 24 | 0.47× | 0.12× | ||
| Q2 24 | 0.46× | 0.12× | ||
| Q1 24 | 0.56× | 0.12× |
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 | $53.9M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 2.66× | 0.06× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流PRWTM
| Q4 25 | $904.3M | $53.9M | ||
| Q3 25 | $766.5M | $359.3M | ||
| Q2 25 | $1.0B | $177.5M | ||
| Q1 25 | $898.0M | $-40.2M | ||
| Q4 24 | $871.6M | $64.1M | ||
| Q3 24 | $954.4M | $269.4M | ||
| Q2 24 | $938.4M | $216.8M | ||
| Q1 24 | $647.6M | $36.5M |
现金转化率PRWTM
| Q4 25 | 2.66× | 0.06× | ||
| Q3 25 | 12.94× | 3.16× | ||
| Q2 25 | 5.01× | 1.44× | ||
| Q1 25 | 2.73× | -1.19× | ||
| Q4 24 | 4.02× | — | ||
| Q3 24 | 2.47× | 1.51× | ||
| Q2 24 | 3.99× | — | ||
| Q1 24 | 4.42× | 0.15× |
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% |
WTM
暂无分部数据
