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APA Corporation（APA）与GLOBAL PARTNERS LP（GLP）财务数据对比。点击上方公司名可切换其他公司
GLOBAL PARTNERS LP的季度营收约是APA Corporation的1.0倍（$2.2B vs $2.2B）。APA Corporation净利率更高（15.0% vs 1.1%，领先13.9%）。GLOBAL PARTNERS LP同比增速更快（7.0% vs -24.3%）。过去两年APA Corporation的营收复合增速更高（1.4% vs 0.2%）
APA Corporation是美国能源企业阿帕奇公司的控股主体，主要从事碳氢化合物资源勘探相关业务，在特拉华州注册成立，总部位于得克萨斯州休斯敦，是北美地区拥有丰富项目经验的能源勘探运营企业。
Global Partners LP是一家美国能源供应企业，2018年位列《财富》世界500强第361位，采用业主有限合伙制架构，核心业务为石油产品进口，深耕北美市场开展营销活动，批发的产品涵盖原油、柴油、汽油、取暖油及煤油等品类。
APA vs GLP — 直观对比
营收规模更大
GLP
是对方的1.0倍
$2.2B
营收增速更快
GLP
高出31.3%
-24.3%
净利率更高
APA
高出13.9%
1.1%
两年增速更快
APA
近两年复合增速
0.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $2.2B |
| 净利润 | $331.0M | $25.1M |
| 毛利率 | — | 11.9% |
| 营业利润率 | 32.5% | 2.6% |
| 净利率 | 15.0% | 1.1% |
| 营收同比 | -24.3% | 7.0% |
| 净利润同比 | -22.1% | 5.0% |
| 每股收益（稀释后） | $0.79 | — |
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APAGLP
| Q4 25 | $2.2B | $2.2B | ||
| Q3 25 | $2.3B | $2.2B | ||
| Q2 25 | $2.3B | $2.1B | ||
| Q1 25 | $2.7B | $2.2B | ||
| Q4 24 | $2.9B | $2.1B | ||
| Q3 24 | $2.7B | $2.1B | ||
| Q2 24 | $2.8B | $2.3B | ||
| Q1 24 | $2.1B | $2.2B |
净利润APAGLP
| Q4 25 | $331.0M | $25.1M | ||
| Q3 25 | $205.0M | $29.0M | ||
| Q2 25 | $603.0M | $25.2M | ||
| Q1 25 | $418.0M | $18.7M | ||
| Q4 24 | $425.0M | $23.9M | ||
| Q3 24 | $-223.0M | $45.9M | ||
| Q2 24 | $541.0M | $46.1M | ||
| Q1 24 | $212.0M | $-5.6M |
毛利率APAGLP
| Q4 25 | — | 11.9% | ||
| Q3 25 | — | 12.1% | ||
| Q2 25 | — | 13.1% | ||
| Q1 25 | — | 11.7% | ||
| Q4 24 | — | 13.0% | ||
| Q3 24 | — | 13.4% | ||
| Q2 24 | — | 12.6% | ||
| Q1 24 | — | 9.8% |
营业利润率APAGLP
| Q4 25 | 32.5% | 2.6% | ||
| Q3 25 | 33.7% | 2.7% | ||
| Q2 25 | 31.8% | 2.9% | ||
| Q1 25 | 31.9% | 2.6% | ||
| Q4 24 | 31.4% | 2.8% | ||
| Q3 24 | -5.2% | 3.9% | ||
| Q2 24 | 34.4% | 3.7% | ||
| Q1 24 | 32.2% | 1.2% |
净利率APAGLP
| Q4 25 | 15.0% | 1.1% | ||
| Q3 25 | 9.0% | 1.3% | ||
| Q2 25 | 26.0% | 1.2% | ||
| Q1 25 | 15.4% | 0.9% | ||
| Q4 24 | 14.6% | 1.2% | ||
| Q3 24 | -8.1% | 2.1% | ||
| Q2 24 | 19.0% | 2.0% | ||
| Q1 24 | 9.9% | -0.3% |
每股收益（稀释后）APAGLP
| Q4 25 | $0.79 | — | ||
| Q3 25 | $0.57 | — | ||
| Q2 25 | $1.67 | — | ||
| Q1 25 | $0.96 | — | ||
| Q4 24 | $0.97 | — | ||
| Q3 24 | $-0.60 | — | ||
| Q2 24 | $1.46 | — | ||
| Q1 24 | $0.44 | — |
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 | $516.0M | — |
| 总债务越低越好 | $4.3B | — |
| 股东权益账面价值 | $6.1B | — |
| 总资产 | $17.8B | $3.9B |
| 负债/权益比越低杠杆越低 | 0.70× | — |
8季度趋势，按日历期对齐
现金及短期投资APAGLP
| Q4 25 | $516.0M | — | ||
| Q3 25 | $475.0M | — | ||
| Q2 25 | $107.0M | — | ||
| Q1 25 | $67.0M | — | ||
| Q4 24 | $625.0M | — | ||
| Q3 24 | $64.0M | — | ||
| Q2 24 | $160.0M | — | ||
| Q1 24 | $102.0M | — |
总债务APAGLP
| Q4 25 | $4.3B | — | ||
| Q3 25 | $4.3B | — | ||
| Q2 25 | $4.3B | — | ||
| Q1 25 | $5.2B | — | ||
| Q4 24 | $6.0B | — | ||
| Q3 24 | $6.4B | — | ||
| Q2 24 | $6.7B | — | ||
| Q1 24 | $5.2B | — |
股东权益APAGLP
| Q4 25 | $6.1B | — | ||
| Q3 25 | $6.0B | — | ||
| Q2 25 | $5.9B | — | ||
| Q1 25 | $5.4B | — | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $5.4B | — | ||
| Q1 24 | $2.6B | — |
总资产APAGLP
| Q4 25 | $17.8B | $3.9B | ||
| Q3 25 | $17.7B | $3.7B | ||
| Q2 25 | $18.1B | $3.8B | ||
| Q1 25 | $18.5B | $3.8B | ||
| Q4 24 | $19.4B | $3.8B | ||
| Q3 24 | $19.4B | $3.7B | ||
| Q2 24 | $20.2B | $3.8B | ||
| Q1 24 | $15.0B | $3.5B |
负债/权益比APAGLP
| Q4 25 | 0.70× | — | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.96× | — | ||
| Q4 24 | 1.13× | — | ||
| Q3 24 | 1.25× | — | ||
| Q2 24 | 1.24× | — | ||
| Q1 24 | 1.99× | — |
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 | $808.0M | $101.0M |
| 自由现金流经营现金流 - 资本支出 | — | $62.2M |
| 自由现金流率自由现金流/营收 | — | 2.8% |
| 资本支出强度资本支出/营收 | — | 1.8% |
| 现金转化率经营现金流/净利润 | 2.44× | 4.03× |
| 过去12个月自由现金流最近4个季度 | — | $193.3M |
8季度趋势，按日历期对齐
经营现金流APAGLP
| Q4 25 | $808.0M | $101.0M | ||
| Q3 25 | $1.5B | $19.0M | ||
| Q2 25 | $1.2B | $216.3M | ||
| Q1 25 | $1.1B | $-51.6M | ||
| Q4 24 | $1.0B | $67.2M | ||
| Q3 24 | $1.3B | $122.7M | ||
| Q2 24 | $877.0M | $24.3M | ||
| Q1 24 | $368.0M | $-182.7M |
自由现金流APAGLP
| Q4 25 | — | $62.2M | ||
| Q3 25 | — | $-678.0K | ||
| Q2 25 | — | $201.3M | ||
| Q1 25 | — | $-69.5M | ||
| Q4 24 | — | $20.4M | ||
| Q3 24 | — | $98.4M | ||
| Q2 24 | — | $8.7M | ||
| Q1 24 | — | $-199.3M |
自由现金流率APAGLP
| Q4 25 | — | 2.8% | ||
| Q3 25 | — | -0.0% | ||
| Q2 25 | — | 9.7% | ||
| Q1 25 | — | -3.2% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 4.6% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | -9.0% |
资本支出强度APAGLP
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 0.8% |
现金转化率APAGLP
| Q4 25 | 2.44× | 4.03× | ||
| Q3 25 | 7.12× | 0.66× | ||
| Q2 25 | 1.96× | 8.58× | ||
| Q1 25 | 2.62× | -2.76× | ||
| Q4 24 | 2.44× | 2.82× | ||
| Q3 24 | — | 2.67× | ||
| Q2 24 | 1.62× | 0.53× | ||
| Q1 24 | 1.74× | — |
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
APA
| Oil And Gas Excluding Purchased | $1.7B | 76% |
| Oil And Gas Purchased | $323.0M | 15% |
| Oil Reserves | $114.0M | 5% |
| Other | $72.0M | 3% |
| Natural Gas Reserves | $30.0M | 1% |
GLP
| Gasoline | $1.0B | 46% |
| Refined Petroleum Products Renewable Fuels Crude Oil And Propane | $884.7M | 40% |
| Commercial Segment | $187.6M | 8% |
| Station Operations | $110.5M | 5% |
