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雅保（ALB）与NGL Energy Partners LP（NGL）财务数据对比。点击上方公司名可切换其他公司
雅保的季度营收约是NGL Energy Partners LP的1.6倍（$1.4B vs $909.8M），NGL Energy Partners LP净利率更高（5.2% vs -29.0%，领先34.2%），雅保同比增速更快（15.9% vs -41.3%），雅保自由现金流更多（$233.1M vs $45.7M），过去两年雅保的营收复合增速更高（2.4% vs -6.4%）
雅保是全球知名的特种化学品企业，业务覆盖研发、生产与全球销售，下设锂、溴、催化剂三大板块。锂业务线供应碳酸锂、氢氧化锂、氯化锂等锂化合物及相关试剂，产品广泛应用于消费电子、电动汽车锂电池、高性能润滑脂、热塑性弹性体等领域。
NGL Energy Partners LP是一家总部位于美国的中游能源服务企业，主营原油、液化天然气、可再生燃料的运输、存储及物流服务，同时为上游能源生产商提供水资源管理解决方案，业务主要覆盖北美市场。
ALB vs NGL — 直观对比
营收规模更大
ALB
是对方的1.6倍
$909.8M
营收增速更快
ALB
高出57.2%
-41.3%
净利率更高
NGL
高出34.2%
-29.0%
自由现金流更多
ALB
多$187.4M
$45.7M
两年增速更快
ALB
近两年复合增速
-6.4%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $909.8M |
| 净利润 | $-414.2M | $47.2M |
| 毛利率 | 13.9% | 29.0% |
| 营业利润率 | -15.2% | 12.1% |
| 净利率 | -29.0% | 5.2% |
| 营收同比 | 15.9% | -41.3% |
| 净利润同比 | -650.1% | 249.3% |
| 每股收益（稀释后） | $-3.88 | — |
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ALBNGL
| Q4 25 | $1.4B | $909.8M | ||
| Q3 25 | $1.3B | $674.7M | ||
| Q2 25 | $1.3B | $622.2M | ||
| Q1 25 | $1.1B | $971.1M | ||
| Q4 24 | $1.2B | $982.4M | ||
| Q3 24 | $1.4B | $756.5M | ||
| Q2 24 | $1.4B | $759.2M | ||
| Q1 24 | $1.4B | $1.0B |
净利润ALBNGL
| Q4 25 | $-414.2M | $47.2M | ||
| Q3 25 | $-160.7M | $29.3M | ||
| Q2 25 | $22.9M | $68.9M | ||
| Q1 25 | $41.3M | $13.7M | ||
| Q4 24 | $75.3M | $13.5M | ||
| Q3 24 | $-1.1B | $2.5M | ||
| Q2 24 | $-188.2M | $9.7M | ||
| Q1 24 | $2.4M | $-236.8M |
毛利率ALBNGL
| Q4 25 | 13.9% | 29.0% | ||
| Q3 25 | 9.0% | 37.6% | ||
| Q2 25 | 14.8% | 38.5% | ||
| Q1 25 | 14.5% | 26.9% | ||
| Q4 24 | 11.2% | 25.1% | ||
| Q3 24 | -7.7% | 30.9% | ||
| Q2 24 | -0.7% | 29.0% | ||
| Q1 24 | 2.9% | 21.8% |
营业利润率ALBNGL
| Q4 25 | -15.2% | 12.1% | ||
| Q3 25 | -16.6% | 14.0% | ||
| Q2 25 | 3.6% | 15.7% | ||
| Q1 25 | 1.8% | 8.4% | ||
| Q4 24 | 0.4% | 8.6% | ||
| Q3 24 | -81.9% | 10.8% | ||
| Q2 24 | -34.4% | 10.8% | ||
| Q1 24 | -13.2% | -9.4% |
净利率ALBNGL
| Q4 25 | -29.0% | 5.2% | ||
| Q3 25 | -12.3% | 4.3% | ||
| Q2 25 | 1.7% | 11.1% | ||
| Q1 25 | 3.8% | 1.4% | ||
| Q4 24 | 6.1% | 1.4% | ||
| Q3 24 | -78.9% | 0.3% | ||
| Q2 24 | -13.2% | 1.3% | ||
| Q1 24 | 0.2% | -22.8% |
每股收益（稀释后）ALBNGL
| Q4 25 | $-3.88 | — | ||
| Q3 25 | $-1.72 | — | ||
| Q2 25 | $-0.16 | — | ||
| Q1 25 | $0.00 | — | ||
| Q4 24 | $0.29 | — | ||
| Q3 24 | $-9.45 | — | ||
| Q2 24 | $-1.96 | — | ||
| Q1 24 | $-0.08 | — |
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 | — | $6.5M |
| 总债务越低越好 | $3.2B | $2.9B |
| 股东权益账面价值 | $9.5B | — |
| 总资产 | $16.4B | $4.4B |
| 负债/权益比越低杠杆越低 | 0.33× | — |
8季度趋势，按日历期对齐
现金及短期投资ALBNGL
| Q4 25 | — | $6.5M | ||
| Q3 25 | $1.9B | $8.7M | ||
| Q2 25 | $1.8B | $5.4M | ||
| Q1 25 | $1.5B | $13.5M | ||
| Q4 24 | $1.2B | $5.7M | ||
| Q3 24 | $1.7B | $4.5M | ||
| Q2 24 | $1.8B | $5.3M | ||
| Q1 24 | $2.1B | $38.9M |
总债务ALBNGL
| Q4 25 | $3.2B | $2.9B | ||
| Q3 25 | $3.6B | $2.9B | ||
| Q2 25 | $3.6B | $2.9B | ||
| Q1 25 | $3.5B | $3.0B | ||
| Q4 24 | $3.5B | $3.1B | ||
| Q3 24 | $3.6B | $3.1B | ||
| Q2 24 | $3.5B | $3.0B | ||
| Q1 24 | $3.5B | $2.9B |
股东权益ALBNGL
| Q4 25 | $9.5B | — | ||
| Q3 25 | $10.0B | — | ||
| Q2 25 | $10.2B | — | ||
| Q1 25 | $10.0B | — | ||
| Q4 24 | $10.0B | — | ||
| Q3 24 | $10.2B | — | ||
| Q2 24 | $11.2B | — | ||
| Q1 24 | $11.5B | — |
总资产ALBNGL
| Q4 25 | $16.4B | $4.4B | ||
| Q3 25 | $17.1B | $4.3B | ||
| Q2 25 | $17.3B | $4.2B | ||
| Q1 25 | $17.0B | $4.6B | ||
| Q4 24 | $16.6B | $4.8B | ||
| Q3 24 | $17.5B | $4.9B | ||
| Q2 24 | $18.4B | $4.8B | ||
| Q1 24 | $19.0B | $5.0B |
负债/权益比ALBNGL
| Q4 25 | 0.33× | — | ||
| Q3 25 | 0.36× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | 0.35× | — | ||
| Q3 24 | 0.35× | — | ||
| Q2 24 | 0.31× | — | ||
| Q1 24 | 0.31× | — |
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 | $388.5M | $182.3M |
| 自由现金流经营现金流 - 资本支出 | $233.1M | $45.7M |
| 自由现金流率自由现金流/营收 | 16.3% | 5.0% |
| 资本支出强度资本支出/营收 | 10.9% | 15.0% |
| 现金转化率经营现金流/净利润 | — | 3.86× |
| 过去12个月自由现金流最近4个季度 | $692.5M | $126.7M |
8季度趋势，按日历期对齐
经营现金流ALBNGL
| Q4 25 | $388.5M | $182.3M | ||
| Q3 25 | $355.6M | $40.5M | ||
| Q2 25 | $-7.2M | $33.2M | ||
| Q1 25 | $545.4M | $155.0M | ||
| Q4 24 | $674.0K | $153.8M | ||
| Q3 24 | $240.5M | $6.7M | ||
| Q2 24 | $362.9M | $-18.1M | ||
| Q1 24 | $98.0M | $152.2M |
自由现金流ALBNGL
| Q4 25 | $233.1M | $45.7M | ||
| Q3 25 | $223.4M | $9.5M | ||
| Q2 25 | $-126.8M | $11.1M | ||
| Q1 25 | $362.8M | $60.4M | ||
| Q4 24 | $-355.1M | $152.1M | ||
| Q3 24 | $-62.6M | $-82.9M | ||
| Q2 24 | $-84.7M | $-78.0M | ||
| Q1 24 | $-481.4M | $119.8M |
自由现金流率ALBNGL
| Q4 25 | 16.3% | 5.0% | ||
| Q3 25 | 17.1% | 1.4% | ||
| Q2 25 | -9.5% | 1.8% | ||
| Q1 25 | 33.7% | 6.2% | ||
| Q4 24 | -28.8% | 15.5% | ||
| Q3 24 | -4.6% | -11.0% | ||
| Q2 24 | -5.9% | -10.3% | ||
| Q1 24 | -35.4% | 11.5% |
资本支出强度ALBNGL
| Q4 25 | 10.9% | 15.0% | ||
| Q3 25 | 10.1% | 4.6% | ||
| Q2 25 | 9.0% | 3.6% | ||
| Q1 25 | 17.0% | 9.7% | ||
| Q4 24 | 28.9% | 0.2% | ||
| Q3 24 | 22.4% | 11.8% | ||
| Q2 24 | 31.3% | 7.9% | ||
| Q1 24 | 42.6% | 3.1% |
现金转化率ALBNGL
| Q4 25 | — | 3.86× | ||
| Q3 25 | — | 1.38× | ||
| Q2 25 | -0.31× | 0.48× | ||
| Q1 25 | 13.19× | 11.29× | ||
| Q4 24 | 0.01× | 11.39× | ||
| Q3 24 | — | 2.74× | ||
| Q2 24 | — | -1.87× | ||
| Q1 24 | 40.01× | — |
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
ALB
| Energy Storage | $759.1M | 53% |
| Specialties | $348.9M | 24% |
| Ketjen | $320.1M | 22% |
NGL
| Water Solutions Segment | $208.6M | 23% |
| Services | $193.3M | 21% |
| Butane | $192.5M | 21% |
| Service Fees | $182.8M | 20% |
| Public Utilities Inventory Propane | $93.9M | 10% |
| Crude Oil | $23.3M | 3% |
| Crude Oil Transportation And Other | $6.5M | 1% |
| Liquids Logistics Segment | $2.5M | 0% |
| Crude Oil Logistics Segment | $1.2M | 0% |
