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亚什兰（ASH）与DT Midstream, Inc.（DTM）财务数据对比。点击上方公司名可切换其他公司
亚什兰的季度营收约是DT Midstream, Inc.的1.2倍（$386.0M vs $317.0M），DT Midstream, Inc.净利率更高（35.0% vs -3.1%，领先38.1%），DT Midstream, Inc.同比增速更快（27.3% vs -4.7%），亚什兰自由现金流更多（$111.0M vs $30.0M），过去两年DT Midstream, Inc.的营收复合增速更高（14.9% vs -18.1%）
亚什兰是一家总部位于美国特拉华州威尔明顿的化工企业，1924年始创于肯塔基州亚什兰市，最初以炼油业务起家，1994年迁至现总部。公司拥有多个业务板块，覆盖化工中间体与溶剂、复合材料、工业特种化学品、个人及家居护理、制药、食品饮料以及农业相关领域，2017年之前曾是胜牌润滑油的主要生产商。
ONEOK是美国油气中游运营商，总部位于俄克拉荷马州塔尔萨，为油气行业提供收集、处理、分馏、运输及存储服务，是财富500强企业及标普500指数成分股。公司1906年成立时名为俄克拉荷马天然气公司，1980年更为现名。
ASH vs DTM — 直观对比
营收规模更大
ASH
是对方的1.2倍
$317.0M
营收增速更快
DTM
高出32.0%
-4.7%
净利率更高
DTM
高出38.1%
-3.1%
自由现金流更多
ASH
多$81.0M
$30.0M
两年增速更快
DTM
近两年复合增速
-18.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $317.0M |
| 净利润 | $-12.0M | $111.0M |
| 毛利率 | 27.2% | — |
| 营业利润率 | -1.6% | 49.2% |
| 净利率 | -3.1% | 35.0% |
| 营收同比 | -4.7% | 27.3% |
| 净利润同比 | 92.7% | 52.1% |
| 每股收益（稀释后） | $-0.26 | $1.07 |
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ASHDTM
| Q4 25 | $386.0M | $317.0M | ||
| Q3 25 | $477.0M | $314.0M | ||
| Q2 25 | $463.0M | $309.0M | ||
| Q1 25 | $479.0M | $303.0M | ||
| Q4 24 | $405.0M | $249.0M | ||
| Q3 24 | $521.0M | $248.0M | ||
| Q2 24 | $544.0M | $244.0M | ||
| Q1 24 | $575.0M | $240.0M |
净利润ASHDTM
| Q4 25 | $-12.0M | $111.0M | ||
| Q3 25 | $31.0M | $115.0M | ||
| Q2 25 | $-742.0M | $107.0M | ||
| Q1 25 | $31.0M | $108.0M | ||
| Q4 24 | $-165.0M | $73.0M | ||
| Q3 24 | $17.0M | $88.0M | ||
| Q2 24 | $6.0M | $96.0M | ||
| Q1 24 | $120.0M | $97.0M |
毛利率ASHDTM
| Q4 25 | 27.2% | — | ||
| Q3 25 | 33.3% | — | ||
| Q2 25 | 28.5% | — | ||
| Q1 25 | 30.7% | — | ||
| Q4 24 | 27.4% | — | ||
| Q3 24 | 33.2% | — | ||
| Q2 24 | 34.2% | — | ||
| Q1 24 | 28.0% | — |
营业利润率ASHDTM
| Q4 25 | -1.6% | 49.2% | ||
| Q3 25 | 12.8% | 49.4% | ||
| Q2 25 | -152.9% | 50.2% | ||
| Q1 25 | 10.6% | 48.8% | ||
| Q4 24 | -44.2% | 45.4% | ||
| Q3 24 | 6.1% | 49.2% | ||
| Q2 24 | -11.2% | 53.3% | ||
| Q1 24 | 3.7% | 51.7% |
净利率ASHDTM
| Q4 25 | -3.1% | 35.0% | ||
| Q3 25 | 6.5% | 36.6% | ||
| Q2 25 | -160.3% | 34.6% | ||
| Q1 25 | 6.5% | 35.6% | ||
| Q4 24 | -40.7% | 29.3% | ||
| Q3 24 | 3.3% | 35.5% | ||
| Q2 24 | 1.1% | 39.3% | ||
| Q1 24 | 20.9% | 40.4% |
每股收益（稀释后）ASHDTM
| Q4 25 | $-0.26 | $1.07 | ||
| Q3 25 | $0.83 | $1.13 | ||
| Q2 25 | $-16.21 | $1.04 | ||
| Q1 25 | $0.65 | $1.06 | ||
| Q4 24 | $-3.50 | $0.73 | ||
| Q3 24 | $0.34 | $0.90 | ||
| Q2 24 | $0.12 | $0.98 | ||
| Q1 24 | $2.39 | $0.99 |
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 | $304.0M | $54.0M |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $1.9B | $4.7B |
| 总资产 | $4.5B | $10.1B |
| 负债/权益比越低杠杆越低 | 0.74× | — |
8季度趋势，按日历期对齐
现金及短期投资ASHDTM
| Q4 25 | $304.0M | $54.0M | ||
| Q3 25 | $215.0M | $98.0M | ||
| Q2 25 | $207.0M | $74.0M | ||
| Q1 25 | $168.0M | $83.0M | ||
| Q4 24 | $219.0M | $68.0M | ||
| Q3 24 | $300.0M | $77.0M | ||
| Q2 24 | $399.0M | $73.0M | ||
| Q1 24 | $439.0M | $41.0M |
总债务ASHDTM
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | $3.4B | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.3B | — |
股东权益ASHDTM
| Q4 25 | $1.9B | $4.7B | ||
| Q3 25 | $1.9B | $4.7B | ||
| Q2 25 | $1.9B | $4.7B | ||
| Q1 25 | $2.6B | $4.6B | ||
| Q4 24 | $2.6B | $4.6B | ||
| Q3 24 | $2.9B | $4.2B | ||
| Q2 24 | $3.0B | $4.2B | ||
| Q1 24 | $3.1B | $4.2B |
总资产ASHDTM
| Q4 25 | $4.5B | $10.1B | ||
| Q3 25 | $4.6B | $10.1B | ||
| Q2 25 | $4.6B | $10.0B | ||
| Q1 25 | $5.2B | $9.9B | ||
| Q4 24 | $5.2B | $9.9B | ||
| Q3 24 | $5.6B | $8.6B | ||
| Q2 24 | $5.7B | $9.0B | ||
| Q1 24 | $5.9B | $9.0B |
负债/权益比ASHDTM
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.52× | — | ||
| Q4 24 | 0.51× | 0.72× | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.45× | — | ||
| Q1 24 | 0.42× | — |
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 | $125.0M | $161.0M |
| 自由现金流经营现金流 - 资本支出 | $111.0M | $30.0M |
| 自由现金流率自由现金流/营收 | 28.8% | 9.5% |
| 资本支出强度资本支出/营收 | 3.6% | 41.3% |
| 现金转化率经营现金流/净利润 | — | 1.45× |
| 过去12个月自由现金流最近4个季度 | $200.0M | $441.0M |
8季度趋势，按日历期对齐
经营现金流ASHDTM
| Q4 25 | $125.0M | $161.0M | ||
| Q3 25 | $40.0M | $274.0M | ||
| Q2 25 | $115.0M | $185.0M | ||
| Q1 25 | $9.0M | $247.0M | ||
| Q4 24 | $-30.0M | $152.0M | ||
| Q3 24 | $80.0M | $205.0M | ||
| Q2 24 | $127.0M | $165.0M | ||
| Q1 24 | $54.0M | $241.0M |
自由现金流ASHDTM
| Q4 25 | $111.0M | $30.0M | ||
| Q3 25 | $6.0M | $131.0M | ||
| Q2 25 | $95.0M | $104.0M | ||
| Q1 25 | $-12.0M | $176.0M | ||
| Q4 24 | $-53.0M | $62.0M | ||
| Q3 24 | $42.0M | $124.0M | ||
| Q2 24 | $98.0M | $84.0M | ||
| Q1 24 | $20.0M | $143.0M |
自由现金流率ASHDTM
| Q4 25 | 28.8% | 9.5% | ||
| Q3 25 | 1.3% | 41.7% | ||
| Q2 25 | 20.5% | 33.7% | ||
| Q1 25 | -2.5% | 58.1% | ||
| Q4 24 | -13.1% | 24.9% | ||
| Q3 24 | 8.1% | 50.0% | ||
| Q2 24 | 18.0% | 34.4% | ||
| Q1 24 | 3.5% | 59.6% |
资本支出强度ASHDTM
| Q4 25 | 3.6% | 41.3% | ||
| Q3 25 | 7.1% | 45.5% | ||
| Q2 25 | 4.3% | 26.2% | ||
| Q1 25 | 4.4% | 23.4% | ||
| Q4 24 | 5.7% | 36.1% | ||
| Q3 24 | 7.3% | 32.7% | ||
| Q2 24 | 5.3% | 33.2% | ||
| Q1 24 | 5.9% | 40.8% |
现金转化率ASHDTM
| Q4 25 | — | 1.45× | ||
| Q3 25 | 1.29× | 2.38× | ||
| Q2 25 | — | 1.73× | ||
| Q1 25 | 0.29× | 2.29× | ||
| Q4 24 | — | 2.08× | ||
| Q3 24 | 4.71× | 2.33× | ||
| Q2 24 | 21.17× | 1.72× | ||
| Q1 24 | 0.45× | 2.48× |
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
ASH
| Personal Care And Household | $123.0M | 32% |
| Other | $120.0M | 31% |
| Specialty Additives | $36.0M | 9% |
| Intermediates And Solvents | $31.0M | 8% |
| Personal Care | $30.0M | 8% |
| Life Sciences | $27.0M | 7% |
| Intermediates | $19.0M | 5% |
DTM
| Pipeline Segment | $173.0M | 55% |
| Gathering Segment | $144.0M | 45% |
