vs
美国运通（AXP）与马拉松石油（MPC）财务数据对比。点击上方公司名可切换其他公司
马拉松石油的季度营收约是美国运通的1.7倍（$32.6B vs $18.9B），美国运通净利率更高（15.7% vs 4.7%，领先11.0%），美国运通同比增速更快（11.4% vs -1.7%），过去两年美国运通的营收复合增速更高（38.8% vs -0.2%）
美国运通是全球知名的支付服务提供商，主营签账卡、信用卡产品及旅行相关服务，下设全球消费者服务、全球商业服务、全球商户与网络服务三大业务板块，还提供支付融资、网络服务、应付账款费用管理、旅行生活服务等多元解决方案。
马拉松石油是总部位于美国俄亥俄州芬德利的能源企业，核心业务覆盖石油炼制、销售与运输全链条。该公司此前为马拉松石油集团的全资子公司，于2011年完成分拆后独立运营。
AXP vs MPC — 直观对比
营收规模更大
MPC
是对方的1.7倍
$18.9B
营收增速更快
AXP
高出13.1%
-1.7%
净利率更高
AXP
高出11.0%
4.7%
两年增速更快
AXP
近两年复合增速
-0.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $18.9B | $32.6B |
| 净利润 | $3.0B | $1.5B |
| 毛利率 | — | 11.4% |
| 营业利润率 | — | 8.3% |
| 净利率 | 15.7% | 4.7% |
| 营收同比 | 11.4% | -1.7% |
| 净利润同比 | 15.0% | 313.7% |
| 每股收益（稀释后） | $4.28 | $4.99 |
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AXPMPC
| Q1 26 | $18.9B | — | ||
| Q4 25 | $10.9B | $32.6B | ||
| Q3 25 | $10.4B | $34.8B | ||
| Q2 25 | $10.3B | $33.8B | ||
| Q1 25 | $9.6B | $31.5B | ||
| Q4 24 | $10.0B | $33.1B | ||
| Q3 24 | $9.7B | $35.1B | ||
| Q2 24 | $9.8B | $37.9B |
净利润AXPMPC
| Q1 26 | $3.0B | — | ||
| Q4 25 | $2.5B | $1.5B | ||
| Q3 25 | $2.9B | $1.4B | ||
| Q2 25 | $2.9B | $1.2B | ||
| Q1 25 | $2.6B | $-74.0M | ||
| Q4 24 | $2.2B | $371.0M | ||
| Q3 24 | $2.5B | $622.0M | ||
| Q2 24 | $3.0B | $1.5B |
毛利率AXPMPC
| Q1 26 | — | — | ||
| Q4 25 | — | 11.4% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | — | 11.2% | ||
| Q1 25 | — | 6.8% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 8.4% | ||
| Q2 24 | — | 10.5% |
营业利润率AXPMPC
| Q1 26 | — | — | ||
| Q4 25 | 28.2% | 8.3% | ||
| Q3 25 | 36.7% | 7.8% | ||
| Q2 25 | 34.4% | 6.5% | ||
| Q1 25 | 34.6% | 2.2% | ||
| Q4 24 | 27.7% | 3.4% | ||
| Q3 24 | 33.0% | 3.8% | ||
| Q2 24 | 38.6% | 6.7% |
净利率AXPMPC
| Q1 26 | 15.7% | — | ||
| Q4 25 | 22.5% | 4.7% | ||
| Q3 25 | 27.9% | 3.9% | ||
| Q2 25 | 28.0% | 3.6% | ||
| Q1 25 | 26.8% | -0.2% | ||
| Q4 24 | 21.8% | 1.1% | ||
| Q3 24 | 25.8% | 1.8% | ||
| Q2 24 | 30.7% | 4.0% |
每股收益（稀释后）AXPMPC
| Q1 26 | $4.28 | — | ||
| Q4 25 | $3.52 | $4.99 | ||
| Q3 25 | $4.14 | $4.51 | ||
| Q2 25 | $4.08 | $3.96 | ||
| Q1 25 | $3.64 | $-0.24 | ||
| Q4 24 | $3.04 | $1.30 | ||
| Q3 24 | $3.49 | $1.87 | ||
| Q2 24 | $4.15 | $4.33 |
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 | — | $3.7B |
| 总债务越低越好 | $60.4M | $30.5B |
| 股东权益账面价值 | $34.0M | $17.3B |
| 总资产 | $308.9M | $84.0B |
| 负债/权益比越低杠杆越低 | 1.78× | 1.76× |
8季度趋势，按日历期对齐
现金及短期投资AXPMPC
| Q1 26 | — | — | ||
| Q4 25 | $742.0M | $3.7B | ||
| Q3 25 | $1.3B | $2.7B | ||
| Q2 25 | $197.0M | $1.7B | ||
| Q1 25 | $261.0M | $3.8B | ||
| Q4 24 | $221.0M | $3.2B | ||
| Q3 24 | $120.0M | $5.1B | ||
| Q2 24 | $188.0M | $8.5B |
总债务AXPMPC
| Q1 26 | $60.4M | — | ||
| Q4 25 | $56.4B | $30.5B | ||
| Q3 25 | $57.8B | $31.2B | ||
| Q2 25 | $58.2B | $26.8B | ||
| Q1 25 | $51.2B | $26.8B | ||
| Q4 24 | $49.7B | $24.4B | ||
| Q3 24 | $53.5B | $24.1B | ||
| Q2 24 | $51.5B | $24.0B |
股东权益AXPMPC
| Q1 26 | $34.0M | — | ||
| Q4 25 | $33.5B | $17.3B | ||
| Q3 25 | $32.4B | $17.1B | ||
| Q2 25 | $32.3B | $16.6B | ||
| Q1 25 | $31.2B | $16.4B | ||
| Q4 24 | $30.3B | $17.7B | ||
| Q3 24 | $29.7B | $18.9B | ||
| Q2 24 | $29.5B | $21.3B |
总资产AXPMPC
| Q1 26 | $308.9M | — | ||
| Q4 25 | $300.1B | $84.0B | ||
| Q3 25 | $297.6B | $83.2B | ||
| Q2 25 | $295.6B | $78.5B | ||
| Q1 25 | $282.2B | $81.6B | ||
| Q4 24 | $271.5B | $78.9B | ||
| Q3 24 | $271.0B | $79.8B | ||
| Q2 24 | $272.2B | $85.2B |
负债/权益比AXPMPC
| Q1 26 | 1.78× | — | ||
| Q4 25 | 1.68× | 1.76× | ||
| Q3 25 | 1.78× | 1.83× | ||
| Q2 25 | 1.80× | 1.61× | ||
| Q1 25 | 1.64× | 1.64× | ||
| Q4 24 | 1.64× | 1.38× | ||
| Q3 24 | 1.80× | 1.27× | ||
| Q2 24 | 1.74× | 1.13× |
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 | — | $3.1B |
| 自由现金流经营现金流 - 资本支出 | — | $1.9B |
| 自由现金流率自由现金流/营收 | — | 5.8% |
| 资本支出强度资本支出/营收 | — | 3.6% |
| 现金转化率经营现金流/净利润 | — | 2.00× |
| 过去12个月自由现金流最近4个季度 | — | $4.8B |
8季度趋势，按日历期对齐
经营现金流AXPMPC
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $3.1B | ||
| Q3 25 | $6.2B | $2.6B | ||
| Q2 25 | $4.4B | $2.6B | ||
| Q1 25 | $4.8B | $-64.0M | ||
| Q4 24 | $5.8B | $2.2B | ||
| Q3 24 | $-1.8B | $1.7B | ||
| Q2 24 | $4.5B | $3.2B |
自由现金流AXPMPC
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $1.9B | ||
| Q3 25 | $5.6B | $1.7B | ||
| Q2 25 | $3.7B | $1.9B | ||
| Q1 25 | $4.3B | $-727.0M | ||
| Q4 24 | $5.3B | $1.4B | ||
| Q3 24 | $-2.3B | $1.0B | ||
| Q2 24 | $4.0B | $2.8B |
自由现金流率AXPMPC
| Q1 26 | — | — | ||
| Q4 25 | 21.4% | 5.8% | ||
| Q3 25 | 53.6% | 4.8% | ||
| Q2 25 | 36.3% | 5.8% | ||
| Q1 25 | 45.0% | -2.3% | ||
| Q4 24 | 53.1% | 4.2% | ||
| Q3 24 | -23.3% | 2.9% | ||
| Q2 24 | 40.4% | 7.3% |
资本支出强度AXPMPC
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 3.6% | ||
| Q3 25 | 6.3% | 2.7% | ||
| Q2 25 | 6.0% | 2.1% | ||
| Q1 25 | 4.5% | 2.1% | ||
| Q4 24 | 5.0% | 2.4% | ||
| Q3 24 | 4.7% | 1.9% | ||
| Q2 24 | 5.8% | 1.3% |
现金转化率AXPMPC
| Q1 26 | — | — | ||
| Q4 25 | 1.25× | 2.00× | ||
| Q3 25 | 2.15× | 1.90× | ||
| Q2 25 | 1.51× | 2.17× | ||
| Q1 25 | 1.84× | — | ||
| Q4 24 | 2.66× | 5.95× | ||
| Q3 24 | -0.72× | 2.71× | ||
| Q2 24 | 1.50× | 2.14× |
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
AXP
暂无分部数据
MPC
| Refined Products | $28.6B | 88% |
| Midstream | $1.4B | 4% |
| Crude Oil | $1.2B | 4% |
| Renewable Diesel | $851.0M | 3% |
| Related Party | $536.0M | 2% |
| Services & Other | $466.0M | 1% |
