vs
西联汇款（AFG）与MPLX LP（MPLX）财务数据对比。点击上方公司名可切换其他公司
MPLX LP的季度营收约是西联汇款的1.2倍（$2.5B vs $2.1B），MPLX LP净利率更高（49.1% vs 14.5%，领先34.6%），MPLX LP同比增速更快（1.4% vs -4.0%），过去两年MPLX LP的营收复合增速更高（6.2% vs 4.0%）
西联汇款是总部位于美国科罗拉多州丹佛市的跨国金融服务企业，为全球个人及商业客户提供跨境汇款、支付等多元金融解决方案，在全球绝大多数国家和地区拥有覆盖广泛的服务网络。
MPLX LP旗下子公司MarkWest Energy Partners是美国业主有限合伙企业，主营天然气收集、加工及运输业务。该公司1988年成立于科罗拉多州丹佛市，曾发展为科罗拉多州第13大企业，2015年被马拉松石油旗下的MPLX收购。
AFG vs MPLX — 直观对比
营收规模更大
MPLX
是对方的1.2倍
$2.1B
营收增速更快
MPLX
高出5.4%
-4.0%
净利率更高
MPLX
高出34.6%
14.5%
两年增速更快
MPLX
近两年复合增速
4.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.5B |
| 净利润 | $299.0M | $1.2B |
| 毛利率 | — | — |
| 营业利润率 | 18.4% | 60.5% |
| 净利率 | 14.5% | 49.1% |
| 营收同比 | -4.0% | 1.4% |
| 净利润同比 | 17.3% | 8.5% |
| 每股收益（稀释后） | $3.59 | — |
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AFGMPLX
| Q4 25 | $2.1B | $2.5B | ||
| Q3 25 | $2.3B | $2.5B | ||
| Q2 25 | $1.9B | $2.4B | ||
| Q1 25 | $1.9B | $2.5B | ||
| Q4 24 | $2.1B | $2.4B | ||
| Q3 24 | $2.4B | $2.3B | ||
| Q2 24 | $1.9B | $2.3B | ||
| Q1 24 | $1.9B | $2.2B |
净利润AFGMPLX
| Q4 25 | $299.0M | $1.2B | ||
| Q3 25 | $215.0M | $1.6B | ||
| Q2 25 | $174.0M | $1.1B | ||
| Q1 25 | $154.0M | $1.1B | ||
| Q4 24 | $255.0M | $1.1B | ||
| Q3 24 | $181.0M | $1.0B | ||
| Q2 24 | $209.0M | $1.2B | ||
| Q1 24 | $242.0M | $1.0B |
营业利润率AFGMPLX
| Q4 25 | 18.4% | 60.5% | ||
| Q3 25 | 11.5% | 73.2% | ||
| Q2 25 | 11.9% | 54.9% | ||
| Q1 25 | 10.6% | 55.5% | ||
| Q4 24 | 14.9% | 55.6% | ||
| Q3 24 | 9.7% | 54.4% | ||
| Q2 24 | 14.3% | 62.9% | ||
| Q1 24 | 15.9% | 57.6% |
净利率AFGMPLX
| Q4 25 | 14.5% | 49.1% | ||
| Q3 25 | 9.2% | 63.2% | ||
| Q2 25 | 9.0% | 44.9% | ||
| Q1 25 | 8.3% | 46.2% | ||
| Q4 24 | 11.9% | 45.9% | ||
| Q3 24 | 7.6% | 44.6% | ||
| Q2 24 | 11.0% | 52.6% | ||
| Q1 24 | 12.7% | 46.7% |
每股收益（稀释后）AFGMPLX
| Q4 25 | $3.59 | — | ||
| Q3 25 | $2.58 | — | ||
| Q2 25 | $2.07 | — | ||
| Q1 25 | $1.84 | — | ||
| Q4 24 | $3.03 | — | ||
| Q3 24 | $2.16 | — | ||
| Q2 24 | $2.49 | — | ||
| Q1 24 | $2.89 | — |
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 | $1.7B | $2.1B |
| 总债务越低越好 | $1.8B | $24.2B |
| 股东权益账面价值 | $4.8B | — |
| 总资产 | $32.6B | $43.0B |
| 负债/权益比越低杠杆越低 | 0.38× | — |
8季度趋势，按日历期对齐
现金及短期投资AFGMPLX
| Q4 25 | $1.7B | $2.1B | ||
| Q3 25 | $1.8B | $1.8B | ||
| Q2 25 | $1.3B | $1.4B | ||
| Q1 25 | $1.3B | $2.5B | ||
| Q4 24 | $1.4B | $1.5B | ||
| Q3 24 | $1.3B | $2.4B | ||
| Q2 24 | $1.1B | $2.5B | ||
| Q1 24 | $1.1B | $385.0M |
总债务AFGMPLX
| Q4 25 | $1.8B | $24.2B | ||
| Q3 25 | $1.8B | $24.1B | ||
| Q2 25 | $1.5B | $19.7B | ||
| Q1 25 | $1.5B | $19.7B | ||
| Q4 24 | $1.5B | $19.3B | ||
| Q3 24 | $1.5B | $19.3B | ||
| Q2 24 | $1.5B | $19.2B | ||
| Q1 24 | $1.5B | $18.8B |
股东权益AFGMPLX
| Q4 25 | $4.8B | — | ||
| Q3 25 | $4.7B | — | ||
| Q2 25 | $4.5B | — | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $4.7B | — | ||
| Q2 24 | $4.4B | — | ||
| Q1 24 | $4.2B | — |
总资产AFGMPLX
| Q4 25 | $32.6B | $43.0B | ||
| Q3 25 | $33.8B | $43.2B | ||
| Q2 25 | $30.7B | $37.8B | ||
| Q1 25 | $30.3B | $39.0B | ||
| Q4 24 | $30.8B | $37.5B | ||
| Q3 24 | $32.6B | $38.5B | ||
| Q2 24 | $29.9B | $38.4B | ||
| Q1 24 | $30.0B | $36.5B |
负债/权益比AFGMPLX
| Q4 25 | 0.38× | — | ||
| Q3 25 | 0.38× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 0.33× | — | ||
| Q3 24 | 0.31× | — | ||
| Q2 24 | 0.34× | — | ||
| Q1 24 | 0.35× | — |
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 | $784.0M | $1.5B |
| 自由现金流经营现金流 - 资本支出 | — | $782.0M |
| 自由现金流率自由现金流/营收 | — | 31.9% |
| 资本支出强度资本支出/营收 | — | 29.1% |
| 现金转化率经营现金流/净利润 | 2.62× | 1.24× |
| 过去12个月自由现金流最近4个季度 | — | $4.1B |
8季度趋势，按日历期对齐
经营现金流AFGMPLX
| Q4 25 | $784.0M | $1.5B | ||
| Q3 25 | $216.0M | $1.4B | ||
| Q2 25 | $191.0M | $1.7B | ||
| Q1 25 | $342.0M | $1.2B | ||
| Q4 24 | $674.0M | $1.7B | ||
| Q3 24 | $459.0M | $1.4B | ||
| Q2 24 | $-88.0M | $1.6B | ||
| Q1 24 | $107.0M | $1.3B |
自由现金流AFGMPLX
| Q4 25 | — | $782.0M | ||
| Q3 25 | — | $905.0M | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $979.0M | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.0B |
自由现金流率AFGMPLX
| Q4 25 | — | 31.9% | ||
| Q3 25 | — | 36.8% | ||
| Q2 25 | — | 60.9% | ||
| Q1 25 | — | 39.8% | ||
| Q4 24 | — | 56.6% | ||
| Q3 24 | — | 48.4% | ||
| Q2 24 | — | 60.0% | ||
| Q1 24 | — | 47.7% |
资本支出强度AFGMPLX
| Q4 25 | — | 29.1% | ||
| Q3 25 | — | 21.4% | ||
| Q2 25 | — | 12.8% | ||
| Q1 25 | — | 10.9% | ||
| Q4 24 | — | 12.7% | ||
| Q3 24 | — | 11.9% | ||
| Q2 24 | — | 9.4% | ||
| Q1 24 | — | 11.7% |
现金转化率AFGMPLX
| Q4 25 | 2.62× | 1.24× | ||
| Q3 25 | 1.00× | 0.92× | ||
| Q2 25 | 1.10× | 1.64× | ||
| Q1 25 | 2.22× | 1.10× | ||
| Q4 24 | 2.64× | 1.51× | ||
| Q3 24 | 2.54× | 1.35× | ||
| Q2 24 | -0.42× | 1.32× | ||
| Q1 24 | 0.44× | 1.27× |
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
AFG
| Property And Casualty Insurance | $2.0B | 96% |
| Other | $83.0M | 4% |
MPLX
| Services | $746.0M | 30% |
| Other | $675.0M | 28% |
| Products | $492.0M | 20% |
| Nonrelated Party | $186.0M | 8% |
| Related Party | $151.0M | 6% |
| Crude Oil And Products Logistics | $104.0M | 4% |
| Service Other | $56.0M | 2% |
| Natural Gas And NGL Services | $41.0M | 2% |
