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Archrock, Inc.（AROC）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
NGL Energy Partners LP的季度营收约是Archrock, Inc.的2.4倍（$909.8M vs $377.1M）。Archrock, Inc.净利率更高（31.0% vs 5.2%，领先25.8%）。Archrock, Inc.同比增速更快（15.5% vs -41.3%）。Archrock, Inc.自由现金流更多（$126.7M vs $45.7M）。过去两年Archrock, Inc.的营收复合增速更高（18.5% vs -6.4%）
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。
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。
AROC vs NGL — 直观对比
营收规模更大
NGL
是对方的2.4倍
$377.1M
营收增速更快
AROC
高出56.8%
-41.3%
净利率更高
AROC
高出25.8%
5.2%
自由现金流更多
AROC
多$81.0M
$45.7M
两年增速更快
AROC
近两年复合增速
-6.4%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $377.1M | $909.8M |
| 净利润 | $116.8M | $47.2M |
| 毛利率 | 53.0% | 29.0% |
| 营业利润率 | 39.4% | 12.1% |
| 净利率 | 31.0% | 5.2% |
| 营收同比 | 15.5% | -41.3% |
| 净利润同比 | 95.4% | 249.3% |
| 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AROCNGL
| Q4 25 | $377.1M | $909.8M | ||
| Q3 25 | $382.4M | $674.7M | ||
| Q2 25 | $383.2M | $622.2M | ||
| Q1 25 | $347.2M | $971.1M | ||
| Q4 24 | $326.4M | $982.4M | ||
| Q3 24 | $292.2M | $756.5M | ||
| Q2 24 | $270.5M | $759.2M | ||
| Q1 24 | $268.5M | $1.0B |
净利润AROCNGL
| Q4 25 | $116.8M | $47.2M | ||
| Q3 25 | $71.2M | $29.3M | ||
| Q2 25 | $63.4M | $68.9M | ||
| Q1 25 | $70.8M | $13.7M | ||
| Q4 24 | $59.8M | $13.5M | ||
| Q3 24 | $37.5M | $2.5M | ||
| Q2 24 | $34.4M | $9.7M | ||
| Q1 24 | $40.5M | $-236.8M |
毛利率AROCNGL
| Q4 25 | 53.0% | 29.0% | ||
| Q3 25 | 48.5% | 37.6% | ||
| Q2 25 | 45.4% | 38.5% | ||
| Q1 25 | 47.4% | 26.9% | ||
| Q4 24 | 46.3% | 25.1% | ||
| Q3 24 | 44.4% | 30.9% | ||
| Q2 24 | 41.5% | 29.0% | ||
| Q1 24 | 42.1% | 21.8% |
营业利润率AROCNGL
| Q4 25 | 39.4% | 12.1% | ||
| Q3 25 | 25.3% | 14.0% | ||
| Q2 25 | 22.5% | 15.7% | ||
| Q1 25 | 26.5% | 8.4% | ||
| Q4 24 | 24.0% | 8.6% | ||
| Q3 24 | 18.1% | 10.8% | ||
| Q2 24 | 17.6% | 10.8% | ||
| Q1 24 | 20.0% | -9.4% |
净利率AROCNGL
| Q4 25 | 31.0% | 5.2% | ||
| Q3 25 | 18.6% | 4.3% | ||
| Q2 25 | 16.6% | 11.1% | ||
| Q1 25 | 20.4% | 1.4% | ||
| Q4 24 | 18.3% | 1.4% | ||
| Q3 24 | 12.8% | 0.3% | ||
| Q2 24 | 12.7% | 1.3% | ||
| Q1 24 | 15.1% | -22.8% |
每股收益（稀释后）AROCNGL
| 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 | $6.5M |
| 总债务越低越好 | — | $2.9B |
| 股东权益账面价值 | $1.5B | — |
| 总资产 | $4.3B | $4.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AROCNGL
| Q4 25 | $1.6M | $6.5M | ||
| Q3 25 | $4.1M | $8.7M | ||
| Q2 25 | $5.9M | $5.4M | ||
| Q1 25 | $4.8M | $13.5M | ||
| Q4 24 | $4.4M | $5.7M | ||
| Q3 24 | $3.7M | $4.5M | ||
| Q2 24 | $919.0K | $5.3M | ||
| Q1 24 | $1.2M | $38.9M |
总债务AROCNGL
| Q4 25 | — | $2.9B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $2.9B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $2.9B |
股东权益AROCNGL
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $894.5M | — | ||
| Q1 24 | $882.1M | — |
总资产AROCNGL
| Q4 25 | $4.3B | $4.4B | ||
| Q3 25 | $4.4B | $4.3B | ||
| Q2 25 | $4.4B | $4.2B | ||
| Q1 25 | $4.0B | $4.6B | ||
| Q4 24 | $3.8B | $4.8B | ||
| Q3 24 | $3.8B | $4.9B | ||
| Q2 24 | $2.7B | $4.8B | ||
| Q1 24 | $2.7B | $5.0B |
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 | $182.3M |
| 自由现金流经营现金流 - 资本支出 | $126.7M | $45.7M |
| 自由现金流率自由现金流/营收 | 33.6% | 5.0% |
| 资本支出强度资本支出/营收 | 23.3% | 15.0% |
| 现金转化率经营现金流/净利润 | 1.84× | 3.86× |
| 过去12个月自由现金流最近4个季度 | $119.6M | $126.7M |
8季度趋势，按日历期对齐
经营现金流AROCNGL
| Q4 25 | $214.5M | $182.3M | ||
| Q3 25 | $164.5M | $40.5M | ||
| Q2 25 | $127.5M | $33.2M | ||
| Q1 25 | $115.6M | $155.0M | ||
| Q4 24 | $124.3M | $153.8M | ||
| Q3 24 | $96.9M | $6.7M | ||
| Q2 24 | $70.7M | $-18.1M | ||
| Q1 24 | $137.7M | $152.2M |
自由现金流AROCNGL
| Q4 25 | $126.7M | $45.7M | ||
| Q3 25 | $29.5M | $9.5M | ||
| Q2 25 | $16.0M | $11.1M | ||
| Q1 25 | $-52.5M | $60.4M | ||
| Q4 24 | $26.4M | $152.1M | ||
| Q3 24 | $26.9M | $-82.9M | ||
| Q2 24 | $-20.6M | $-78.0M | ||
| Q1 24 | $37.9M | $119.8M |
自由现金流率AROCNGL
| Q4 25 | 33.6% | 5.0% | ||
| Q3 25 | 7.7% | 1.4% | ||
| Q2 25 | 4.2% | 1.8% | ||
| Q1 25 | -15.1% | 6.2% | ||
| Q4 24 | 8.1% | 15.5% | ||
| Q3 24 | 9.2% | -11.0% | ||
| Q2 24 | -7.6% | -10.3% | ||
| Q1 24 | 14.1% | 11.5% |
资本支出强度AROCNGL
| Q4 25 | 23.3% | 15.0% | ||
| Q3 25 | 35.3% | 4.6% | ||
| Q2 25 | 29.1% | 3.6% | ||
| Q1 25 | 48.4% | 9.7% | ||
| Q4 24 | 30.0% | 0.2% | ||
| Q3 24 | 24.0% | 11.8% | ||
| Q2 24 | 33.7% | 7.9% | ||
| Q1 24 | 37.2% | 3.1% |
现金转化率AROCNGL
| Q4 25 | 1.84× | 3.86× | ||
| Q3 25 | 2.31× | 1.38× | ||
| Q2 25 | 2.01× | 0.48× | ||
| Q1 25 | 1.63× | 11.29× | ||
| Q4 24 | 2.08× | 11.39× | ||
| Q3 24 | 2.58× | 2.74× | ||
| Q2 24 | 2.05× | -1.87× | ||
| Q1 24 | 3.40× | — |
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% |
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% |
