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Archrock, Inc.（AROC）与Energy Transfer LP（ET）财务数据对比。点击上方公司名可切换其他公司
Energy Transfer LP的季度营收约是Archrock, Inc.的67.1倍（$25.3B vs $377.1M）。Archrock, Inc.净利率更高（31.0% vs 3.7%，领先27.3%）。Energy Transfer LP同比增速更快（29.6% vs 15.5%）。Archrock, Inc.自由现金流更多（$126.7M vs $-225.0M）。过去两年Archrock, Inc.的营收复合增速更高（18.5% vs 8.2%）
Archrock, Inc. 是领先的天然气压缩服务及相关设备解决方案供应商，主要服务北美油气领域，核心业务涵盖压缩系统租赁、维护、售后支持及销售，覆盖上游生产、中游运输与天然气加工板块。
Energy Transfer LP是美国知名能源基础设施运营商，1996年成立，总部位于得克萨斯州达拉斯，主营天然气、原油、液化天然气、成品油等能源产品的管道运输、存储、终端运营及天然气凝析液分馏业务，为公开上市的有限合伙企业。
AROC vs ET — 直观对比
营收规模更大
ET
是对方的67.1倍
$377.1M
营收增速更快
ET
高出14.1%
15.5%
净利率更高
AROC
高出27.3%
3.7%
自由现金流更多
AROC
多$351.7M
$-225.0M
两年增速更快
AROC
近两年复合增速
8.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $377.1M | $25.3B |
| 净利润 | $116.8M | $928.0M |
| 毛利率 | 53.0% | 23.3% |
| 营业利润率 | 39.4% | 8.2% |
| 净利率 | 31.0% | 3.7% |
| 营收同比 | 15.5% | 29.6% |
| 净利润同比 | 95.4% | -13.8% |
| 每股收益（稀释后） | $0.67 | — |
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AROCET
| Q4 25 | $377.1M | $25.3B | ||
| Q3 25 | $382.4M | $20.0B | ||
| Q2 25 | $383.2M | $19.2B | ||
| Q1 25 | $347.2M | $21.0B | ||
| Q4 24 | $326.4M | $19.5B | ||
| Q3 24 | $292.2M | $20.8B | ||
| Q2 24 | $270.5M | $20.7B | ||
| Q1 24 | $268.5M | $21.6B |
净利润AROCET
| Q4 25 | $116.8M | $928.0M | ||
| Q3 25 | $71.2M | $1.0B | ||
| Q2 25 | $63.4M | $1.2B | ||
| Q1 25 | $70.8M | $1.3B | ||
| Q4 24 | $59.8M | $1.1B | ||
| Q3 24 | $37.5M | $1.2B | ||
| Q2 24 | $34.4M | $1.3B | ||
| Q1 24 | $40.5M | $1.2B |
毛利率AROCET
| Q4 25 | 53.0% | 23.3% | ||
| Q3 25 | 48.5% | 27.0% | ||
| Q2 25 | 45.4% | 27.5% | ||
| Q1 25 | 47.4% | 25.9% | ||
| Q4 24 | 46.3% | 27.6% | ||
| Q3 24 | 44.4% | 24.8% | ||
| Q2 24 | 41.5% | 24.7% | ||
| Q1 24 | 42.1% | 23.3% |
营业利润率AROCET
| Q4 25 | 39.4% | 8.2% | ||
| Q3 25 | 25.3% | 10.8% | ||
| Q2 25 | 22.5% | 12.0% | ||
| Q1 25 | 26.5% | 11.9% | ||
| Q4 24 | 24.0% | 11.7% | ||
| Q3 24 | 18.1% | 10.5% | ||
| Q2 24 | 17.6% | 11.1% | ||
| Q1 24 | 20.0% | 11.0% |
净利率AROCET
| Q4 25 | 31.0% | 3.7% | ||
| Q3 25 | 18.6% | 5.1% | ||
| Q2 25 | 16.6% | 6.0% | ||
| Q1 25 | 20.4% | 6.3% | ||
| Q4 24 | 18.3% | 5.5% | ||
| Q3 24 | 12.8% | 5.7% | ||
| Q2 24 | 12.7% | 6.3% | ||
| Q1 24 | 15.1% | 5.7% |
每股收益（稀释后）AROCET
| Q4 25 | $0.67 | — | ||
| Q3 25 | $0.40 | — | ||
| Q2 25 | $0.36 | — | ||
| Q1 25 | $0.40 | — | ||
| Q4 24 | $0.35 | — | ||
| Q3 24 | $0.22 | — | ||
| Q2 24 | $0.22 | — | ||
| Q1 24 | $0.26 | — |
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 | $1.6M | $1.3B |
| 总债务越低越好 | — | $68.3B |
| 股东权益账面价值 | $1.5B | $49.0B |
| 总资产 | $4.3B | $141.3B |
| 负债/权益比越低杠杆越低 | — | 1.39× |
8季度趋势，按日历期对齐
现金及短期投资AROCET
| Q4 25 | $1.6M | $1.3B | ||
| Q3 25 | $4.1M | $3.6B | ||
| Q2 25 | $5.9M | $242.0M | ||
| Q1 25 | $4.8M | — | ||
| Q4 24 | $4.4M | $312.0M | ||
| Q3 24 | $3.7M | — | ||
| Q2 24 | $919.0K | — | ||
| Q1 24 | $1.2M | — |
总债务AROCET
| Q4 25 | — | $68.3B | ||
| Q3 25 | — | $63.1B | ||
| Q2 25 | — | $60.8B | ||
| Q1 25 | — | $59.8B | ||
| Q4 24 | — | $59.8B | ||
| Q3 24 | — | $59.3B | ||
| Q2 24 | — | $57.6B | ||
| Q1 24 | — | $53.5B |
股东权益AROCET
| Q4 25 | $1.5B | $49.0B | ||
| Q3 25 | $1.4B | $45.3B | ||
| Q2 25 | $1.4B | $45.5B | ||
| Q1 25 | $1.3B | $46.2B | ||
| Q4 24 | $1.3B | $46.0B | ||
| Q3 24 | $1.3B | $46.2B | ||
| Q2 24 | $894.5M | $45.5B | ||
| Q1 24 | $882.1M | $43.8B |
总资产AROCET
| Q4 25 | $4.3B | $141.3B | ||
| Q3 25 | $4.4B | $129.3B | ||
| Q2 25 | $4.4B | $125.0B | ||
| Q1 25 | $4.0B | $126.4B | ||
| Q4 24 | $3.8B | $125.4B | ||
| Q3 24 | $3.8B | $124.4B | ||
| Q2 24 | $2.7B | $121.3B | ||
| Q1 24 | $2.7B | $115.8B |
负债/权益比AROCET
| Q4 25 | — | 1.39× | ||
| Q3 25 | — | 1.39× | ||
| Q2 25 | — | 1.33× | ||
| Q1 25 | — | 1.30× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | 1.27× | ||
| Q1 24 | — | 1.22× |
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 | $214.5M | $1.9B |
| 自由现金流经营现金流 - 资本支出 | $126.7M | $-225.0M |
| 自由现金流率自由现金流/营收 | 33.6% | -0.9% |
| 资本支出强度资本支出/营收 | 23.3% | 8.4% |
| 现金转化率经营现金流/净利润 | 1.84× | 2.05× |
| 过去12个月自由现金流最近4个季度 | $119.6M | $3.8B |
8季度趋势，按日历期对齐
经营现金流AROCET
| Q4 25 | $214.5M | $1.9B | ||
| Q3 25 | $164.5M | $2.6B | ||
| Q2 25 | $127.5M | $2.8B | ||
| Q1 25 | $115.6M | $2.9B | ||
| Q4 24 | $124.3M | $2.6B | ||
| Q3 24 | $96.9M | $2.9B | ||
| Q2 24 | $70.7M | $2.3B | ||
| Q1 24 | $137.7M | $3.8B |
自由现金流AROCET
| Q4 25 | $126.7M | $-225.0M | ||
| Q3 25 | $29.5M | $1.3B | ||
| Q2 25 | $16.0M | $1.1B | ||
| Q1 25 | $-52.5M | $1.7B | ||
| Q4 24 | $26.4M | $1.1B | ||
| Q3 24 | $26.9M | $1.8B | ||
| Q2 24 | $-20.6M | $1.5B | ||
| Q1 24 | $37.9M | $3.0B |
自由现金流率AROCET
| Q4 25 | 33.6% | -0.9% | ||
| Q3 25 | 7.7% | 6.4% | ||
| Q2 25 | 4.2% | 5.7% | ||
| Q1 25 | -15.1% | 8.1% | ||
| Q4 24 | 8.1% | 5.7% | ||
| Q3 24 | 9.2% | 8.6% | ||
| Q2 24 | -7.6% | 7.0% | ||
| Q1 24 | 14.1% | 13.8% |
资本支出强度AROCET
| Q4 25 | 23.3% | 8.4% | ||
| Q3 25 | 35.3% | 6.5% | ||
| Q2 25 | 29.1% | 8.6% | ||
| Q1 25 | 48.4% | 5.8% | ||
| Q4 24 | 30.0% | 7.5% | ||
| Q3 24 | 24.0% | 5.2% | ||
| Q2 24 | 33.7% | 3.9% | ||
| Q1 24 | 37.2% | 3.7% |
现金转化率AROCET
| Q4 25 | 1.84× | 2.05× | ||
| Q3 25 | 2.31× | 2.52× | ||
| Q2 25 | 2.01× | 2.37× | ||
| Q1 25 | 1.63× | 2.20× | ||
| Q4 24 | 2.08× | 2.40× | ||
| Q3 24 | 2.58× | 2.43× | ||
| Q2 24 | 2.05× | 1.73× | ||
| Q1 24 | 3.40× | 3.04× |
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
AROC
| Horsepower Group Three | $112.6M | 30% |
| Horsepower Group Two | $108.5M | 29% |
| Horsepower Group One | $105.9M | 28% |
| Services | $32.9M | 9% |
| Over Counter Parts And Component Sales | $17.0M | 5% |
| Transferred At Point In Time | $1.4M | 0% |
ET
| Investment In Sunoco LP | $8.6B | 34% |
| NG Landrefinedproductstransportationandservices | $6.2B | 24% |
| NG Lsales | $4.6B | 18% |
| Midstream | $2.7B | 11% |
| Other | $900.0M | 4% |
| External Customers | $805.0M | 3% |
| Interstate Transportation And Storage | $631.0M | 2% |
| Investment In USAC | $252.0M | 1% |
| Intersegment | $97.0M | 0% |
