vs
Artisan Partners Asset Management Inc.（APAM）与SUBURBAN PROPANE PARTNERS LP（SPH）财务数据对比。点击上方公司名可切换其他公司
SUBURBAN PROPANE PARTNERS LP的季度营收约是Artisan Partners Asset Management Inc.的1.1倍（$370.4M vs $335.5M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs 12.4%，领先22.8%），Artisan Partners Asset Management Inc.同比增速更快（12.9% vs -0.8%），Artisan Partners Asset Management Inc.自由现金流更多（$171.6M vs $-67.5M），过去两年Artisan Partners Asset Management Inc.的营收复合增速更高（12.7% vs -13.8%）
阿蒂森伙伴资产管理公司（Artisan Partners）是总部位于美国威斯康星州密尔沃基的资产管理机构，除美国本土外，还在都柏林、香港、伦敦、新加坡、悉尼设有办公室，为全球客户提供专业的资产管理服务。
Suburban Propane Partners LP是美国领先的丙烷、天然气、取暖油及相关能源产品分销商，服务覆盖住宅、商业、工业、农业等各类客户，同时提供暖通空调系统的安装、维护与维修服务，业务范围遍布全美。
APAM vs SPH — 直观对比
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $370.4M |
| 净利润 | $118.1M | $45.8M |
| 毛利率 | — | 64.7% |
| 营业利润率 | 39.2% | 18.3% |
| 净利率 | 35.2% | 12.4% |
| 营收同比 | 12.9% | -0.8% |
| 净利润同比 | 34.9% | 135.7% |
| 每股收益（稀释后） | $1.36 | $0.69 |
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
| Q4 25 | $335.5M | $370.4M | ||
| Q3 25 | $301.3M | $211.4M | ||
| Q2 25 | $282.7M | $260.1M | ||
| Q1 25 | $277.1M | $587.7M | ||
| Q4 24 | $297.1M | $373.3M | ||
| Q3 24 | $279.6M | $208.6M | ||
| Q2 24 | $270.8M | $254.6M | ||
| Q1 24 | $264.4M | $498.1M |
| Q4 25 | $118.1M | $45.8M | ||
| Q3 25 | $66.8M | $-35.1M | ||
| Q2 25 | $67.6M | $-14.8M | ||
| Q1 25 | $61.1M | $137.1M | ||
| Q4 24 | $87.5M | $19.4M | ||
| Q3 24 | $73.0M | $-44.6M | ||
| Q2 24 | $57.6M | $-17.2M | ||
| Q1 24 | $59.5M | $111.5M |
| Q4 25 | — | 64.7% | ||
| Q3 25 | — | 64.7% | ||
| Q2 25 | — | 61.7% | ||
| Q1 25 | — | 58.8% | ||
| Q4 24 | — | 60.6% | ||
| Q3 24 | — | 59.4% | ||
| Q2 24 | — | 62.9% | ||
| Q1 24 | — | 61.8% |
| Q4 25 | 39.2% | 18.3% | ||
| Q3 25 | 33.8% | -7.9% | ||
| Q2 25 | 28.2% | 2.1% | ||
| Q1 25 | 31.2% | 27.0% | ||
| Q4 24 | 36.7% | 15.8% | ||
| Q3 24 | 33.3% | -10.8% | ||
| Q2 24 | 32.0% | 3.2% | ||
| Q1 24 | 29.4% | 27.5% |
| Q4 25 | 35.2% | 12.4% | ||
| Q3 25 | 22.2% | -16.6% | ||
| Q2 25 | 23.9% | -5.7% | ||
| Q1 25 | 22.1% | 23.3% | ||
| Q4 24 | 29.5% | 5.2% | ||
| Q3 24 | 26.1% | -21.4% | ||
| Q2 24 | 21.3% | -6.8% | ||
| Q1 24 | 22.5% | 22.4% |
| Q4 25 | $1.36 | $0.69 | ||
| Q3 25 | $0.93 | $-0.55 | ||
| Q2 25 | $0.94 | $-0.23 | ||
| Q1 25 | $0.82 | $2.10 | ||
| Q4 24 | $0.99 | $0.30 | ||
| Q3 24 | $1.03 | $-0.69 | ||
| Q2 24 | $0.80 | $-0.27 | ||
| Q1 24 | $0.84 | $1.72 |
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 | — | $1.3M |
| 总债务越低越好 | $190.0M | $1.3B |
| 股东权益账面价值 | $438.8M | — |
| 总资产 | $1.6B | $2.4B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
| Q4 25 | — | $1.3M | ||
| Q3 25 | — | $405.0K | ||
| Q2 25 | — | $1.3M | ||
| Q1 25 | — | $3.9M | ||
| Q4 24 | — | $4.4M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $4.9M | ||
| Q1 24 | — | $4.4M |
| Q4 25 | $190.0M | $1.3B | ||
| Q3 25 | $190.0M | $1.2B | ||
| Q2 25 | $200.0M | $1.2B | ||
| Q1 25 | $200.0M | $1.3B | ||
| Q4 24 | $200.0M | $1.3B | ||
| Q3 24 | $200.0M | $1.2B | ||
| Q2 24 | $200.0M | $1.2B | ||
| Q1 24 | $200.0M | $1.2B |
| Q4 25 | $438.8M | — | ||
| Q3 25 | $402.1M | — | ||
| Q2 25 | $381.8M | — | ||
| Q1 25 | $356.5M | — | ||
| Q4 24 | $388.9M | — | ||
| Q3 24 | $372.1M | — | ||
| Q2 24 | $341.2M | — | ||
| Q1 24 | $320.3M | — |
| Q4 25 | $1.6B | $2.4B | ||
| Q3 25 | $1.6B | $2.3B | ||
| Q2 25 | $1.4B | $2.3B | ||
| Q1 25 | $1.4B | $2.4B | ||
| Q4 24 | $1.6B | $2.4B | ||
| Q3 24 | $1.6B | $2.3B | ||
| Q2 24 | $1.5B | $2.3B | ||
| Q1 24 | $1.5B | $2.3B |
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.62× | — |
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 | $172.0M | $-47.7M |
| 自由现金流经营现金流 - 资本支出 | $171.6M | $-67.5M |
| 自由现金流率自由现金流/营收 | 51.2% | -18.2% |
| 资本支出强度资本支出/营收 | 0.1% | 5.3% |
| 现金转化率经营现金流/净利润 | 1.46× | -1.04× |
| 过去12个月自由现金流最近4个季度 | $420.6M | $61.9M |
8季度趋势，按日历期对齐
| Q4 25 | $172.0M | $-47.7M | ||
| Q3 25 | $40.4M | $41.8M | ||
| Q2 25 | $50.9M | $95.5M | ||
| Q1 25 | $157.9M | $40.1M | ||
| Q4 24 | $372.8M | $8.8M | ||
| Q3 24 | $112.8M | $36.8M | ||
| Q2 24 | $75.9M | $61.4M | ||
| Q1 24 | $147.0M | $75.1M |
| Q4 25 | $171.6M | $-67.5M | ||
| Q3 25 | $40.4M | $27.7M | ||
| Q2 25 | $50.9M | $80.9M | ||
| Q1 25 | $157.7M | $20.8M | ||
| Q4 24 | $371.3M | $-15.1M | ||
| Q3 24 | $112.4M | $17.7M | ||
| Q2 24 | $75.2M | $46.8M | ||
| Q1 24 | $146.9M | $60.6M |
| Q4 25 | 51.2% | -18.2% | ||
| Q3 25 | 13.4% | 13.1% | ||
| Q2 25 | 18.0% | 31.1% | ||
| Q1 25 | 56.9% | 3.5% | ||
| Q4 24 | 125.0% | -4.0% | ||
| Q3 24 | 40.2% | 8.5% | ||
| Q2 24 | 27.8% | 18.4% | ||
| Q1 24 | 55.6% | 12.2% |
| Q4 25 | 0.1% | 5.3% | ||
| Q3 25 | 0.0% | 6.7% | ||
| Q2 25 | 0.0% | 5.6% | ||
| Q1 25 | 0.1% | 3.3% | ||
| Q4 24 | 0.5% | 6.4% | ||
| Q3 24 | 0.1% | 9.1% | ||
| Q2 24 | 0.2% | 5.8% | ||
| Q1 24 | 0.0% | 2.9% |
| Q4 25 | 1.46× | -1.04× | ||
| Q3 25 | 0.60× | — | ||
| Q2 25 | 0.75× | — | ||
| Q1 25 | 2.58× | 0.29× | ||
| Q4 24 | 4.26× | 0.45× | ||
| Q3 24 | 1.54× | — | ||
| Q2 24 | 1.32× | — | ||
| Q1 24 | 2.47× | 0.67× |
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
APAM
暂无分部数据
SPH
| Propane | $326.4M | 88% |
| Other Sales Revenue Net | $19.9M | 5% |
| Fuel Oil And Refined Fuels | $18.2M | 5% |
| Natural Gas And Electricity | $5.9M | 2% |
| Wholesale | $4.1M | 1% |
