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Academy Sports & Outdoors, Inc.（ASO）与MPLX LP（MPLX）财务数据对比。点击上方公司名可切换其他公司
MPLX LP的季度营收约是Academy Sports & Outdoors, Inc.的1.8倍（$2.5B vs $1.4B），MPLX LP净利率更高（49.1% vs 5.2%，领先43.9%），Academy Sports & Outdoors, Inc.同比增速更快（3.0% vs 1.4%），MPLX LP自由现金流更多（$782.0M vs $-13.6M），过去两年MPLX LP的营收复合增速更高（6.2% vs -12.2%）
Academy Sports & Outdoors是美国知名的运动户外用品连锁零售商，总部位于得克萨斯州哈里斯县，临近休斯顿。品牌曾由戈奇曼家族私有运营74年，2011年被私募机构KKR收购，2020年10月于纳斯达克挂牌上市，旗下门店主营各类运动装备、户外休闲用品等品类。
MPLX LP旗下子公司MarkWest Energy Partners是美国业主有限合伙企业，主营天然气收集、加工及运输业务。该公司1988年成立于科罗拉多州丹佛市，曾发展为科罗拉多州第13大企业，2015年被马拉松石油旗下的MPLX收购。
ASO vs MPLX — 直观对比
营收规模更大
MPLX
是对方的1.8倍
$1.4B
营收增速更快
ASO
高出1.6%
1.4%
净利率更高
MPLX
高出43.9%
5.2%
自由现金流更多
MPLX
多$795.6M
$-13.6M
两年增速更快
MPLX
近两年复合增速
-12.2%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.5B |
| 净利润 | $71.6M | $1.2B |
| 毛利率 | 35.7% | — |
| 营业利润率 | 7.3% | 60.5% |
| 净利率 | 5.2% | 49.1% |
| 营收同比 | 3.0% | 1.4% |
| 净利润同比 | 8.8% | 8.5% |
| 每股收益（稀释后） | $1.05 | — |
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ASOMPLX
| Q4 25 | $1.4B | $2.5B | ||
| Q3 25 | $1.6B | $2.5B | ||
| Q2 25 | $1.4B | $2.4B | ||
| Q1 25 | $1.7B | $2.5B | ||
| Q4 24 | $1.3B | $2.4B | ||
| Q3 24 | $1.5B | $2.3B | ||
| Q2 24 | $1.4B | $2.3B | ||
| Q1 24 | $1.8B | $2.2B |
净利润ASOMPLX
| Q4 25 | $71.6M | $1.2B | ||
| Q3 25 | $125.4M | $1.6B | ||
| Q2 25 | $46.1M | $1.1B | ||
| Q1 25 | $133.6M | $1.1B | ||
| Q4 24 | $65.8M | $1.1B | ||
| Q3 24 | $142.6M | $1.0B | ||
| Q2 24 | $76.5M | $1.2B | ||
| Q1 24 | $168.2M | $1.0B |
毛利率ASOMPLX
| Q4 25 | 35.7% | — | ||
| Q3 25 | 36.0% | — | ||
| Q2 25 | 34.0% | — | ||
| Q1 25 | 32.2% | — | ||
| Q4 24 | 34.0% | — | ||
| Q3 24 | 36.1% | — | ||
| Q2 24 | 33.4% | — | ||
| Q1 24 | 33.3% | — |
营业利润率ASOMPLX
| Q4 25 | 7.3% | 60.5% | ||
| Q3 25 | 10.8% | 73.2% | ||
| Q2 25 | 5.1% | 54.9% | ||
| Q1 25 | 9.2% | 55.5% | ||
| Q4 24 | 6.8% | 55.6% | ||
| Q3 24 | 12.3% | 54.4% | ||
| Q2 24 | 7.5% | 62.9% | ||
| Q1 24 | 11.4% | 57.6% |
净利率ASOMPLX
| Q4 25 | 5.2% | 49.1% | ||
| Q3 25 | 7.8% | 63.2% | ||
| Q2 25 | 3.4% | 44.9% | ||
| Q1 25 | 8.0% | 46.2% | ||
| Q4 24 | 4.9% | 45.9% | ||
| Q3 24 | 9.2% | 44.6% | ||
| Q2 24 | 5.6% | 52.6% | ||
| Q1 24 | 9.4% | 46.7% |
每股收益（稀释后）ASOMPLX
| Q4 25 | $1.05 | — | ||
| Q3 25 | $1.85 | — | ||
| Q2 25 | $0.68 | — | ||
| Q1 25 | $1.85 | — | ||
| Q4 24 | $0.92 | — | ||
| Q3 24 | $1.95 | — | ||
| Q2 24 | $1.01 | — | ||
| Q1 24 | $2.19 | — |
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 | $289.5M | $2.1B |
| 总债务越低越好 | — | $24.2B |
| 股东权益账面价值 | $2.1B | — |
| 总资产 | $5.4B | $43.0B |
| 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ASOMPLX
| Q4 25 | $289.5M | $2.1B | ||
| Q3 25 | $300.9M | $1.8B | ||
| Q2 25 | $285.1M | $1.4B | ||
| Q1 25 | $288.9M | $2.5B | ||
| Q4 24 | $296.0M | $1.5B | ||
| Q3 24 | $324.6M | $2.4B | ||
| Q2 24 | $378.1M | $2.5B | ||
| Q1 24 | $347.9M | $385.0M |
总债务ASOMPLX
| Q4 25 | — | $24.2B | ||
| Q3 25 | — | $24.1B | ||
| Q2 25 | — | $19.7B | ||
| Q1 25 | — | $19.7B | ||
| Q4 24 | — | $19.3B | ||
| Q3 24 | — | $19.3B | ||
| Q2 24 | — | $19.2B | ||
| Q1 24 | — | $18.8B |
股东权益ASOMPLX
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $2.0B | — |
总资产ASOMPLX
| Q4 25 | $5.4B | $43.0B | ||
| Q3 25 | $5.3B | $43.2B | ||
| Q2 25 | $5.2B | $37.8B | ||
| Q1 25 | $4.9B | $39.0B | ||
| Q4 24 | $5.1B | $37.5B | ||
| Q3 24 | $4.9B | $38.5B | ||
| Q2 24 | $4.9B | $38.4B | ||
| Q1 24 | $4.7B | $36.5B |
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 | $49.0M | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $-13.6M | $782.0M |
| 自由现金流率自由现金流/营收 | -1.0% | 31.9% |
| 资本支出强度资本支出/营收 | 4.5% | 29.1% |
| 现金转化率经营现金流/净利润 | 0.68× | 1.24× |
| 过去12个月自由现金流最近4个季度 | $191.4M | $4.1B |
8季度趋势，按日历期对齐
经营现金流ASOMPLX
| Q4 25 | $49.0M | $1.5B | ||
| Q3 25 | $78.6M | $1.4B | ||
| Q2 25 | $157.5M | $1.7B | ||
| Q1 25 | $140.2M | $1.2B | ||
| Q4 24 | $96.9M | $1.7B | ||
| Q3 24 | $91.3M | $1.4B | ||
| Q2 24 | $199.7M | $1.6B | ||
| Q1 24 | $234.7M | $1.3B |
自由现金流ASOMPLX
| Q4 25 | $-13.6M | $782.0M | ||
| Q3 25 | $21.8M | $905.0M | ||
| Q2 25 | $106.6M | $1.4B | ||
| Q1 25 | $76.4M | $979.0M | ||
| Q4 24 | $34.4M | $1.4B | ||
| Q3 24 | $50.1M | $1.1B | ||
| Q2 24 | $167.4M | $1.4B | ||
| Q1 24 | $178.9M | $1.0B |
自由现金流率ASOMPLX
| Q4 25 | -1.0% | 31.9% | ||
| Q3 25 | 1.4% | 36.8% | ||
| Q2 25 | 7.9% | 60.9% | ||
| Q1 25 | 4.6% | 39.8% | ||
| Q4 24 | 2.6% | 56.6% | ||
| Q3 24 | 3.2% | 48.4% | ||
| Q2 24 | 12.3% | 60.0% | ||
| Q1 24 | 10.0% | 47.7% |
资本支出强度ASOMPLX
| Q4 25 | 4.5% | 29.1% | ||
| Q3 25 | 3.5% | 21.4% | ||
| Q2 25 | 3.8% | 12.8% | ||
| Q1 25 | 3.8% | 10.9% | ||
| Q4 24 | 4.6% | 12.7% | ||
| Q3 24 | 2.7% | 11.9% | ||
| Q2 24 | 2.4% | 9.4% | ||
| Q1 24 | 3.1% | 11.7% |
现金转化率ASOMPLX
| Q4 25 | 0.68× | 1.24× | ||
| Q3 25 | 0.63× | 0.92× | ||
| Q2 25 | 3.42× | 1.64× | ||
| Q1 25 | 1.05× | 1.10× | ||
| Q4 24 | 1.47× | 1.51× | ||
| Q3 24 | 0.64× | 1.35× | ||
| Q2 24 | 2.61× | 1.32× | ||
| Q1 24 | 1.40× | 1.27× |
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
ASO
| Outdoors | $445.1M | 32% |
| Apparel | $349.8M | 25% |
| Footwear | $292.4M | 21% |
| Sports And Recreation | $288.7M | 21% |
| Other | $7.6M | 1% |
MPLX
| Services | $746.0M | 30% |
| Other | $675.0M | 28% |
| Products | $492.0M | 20% |
| Nonrelated Party | $186.0M | 8% |
| Related Party | $151.0M | 6% |
| Crude Oil And Products Logistics | $104.0M | 4% |
| Service Other | $56.0M | 2% |
| Natural Gas And NGL Services | $41.0M | 2% |
