vs
贝克休斯（BKR）与Murphy USA Inc.（MUSA）财务数据对比。点击上方公司名可切换其他公司
贝克休斯的季度营收约是Murphy USA Inc.的1.4倍（$6.6B vs $4.7B），贝克休斯净利率更高（14.1% vs 3.0%，领先11.1%），贝克休斯同比增速更快（2.5% vs 0.7%），贝克休斯自由现金流更多（$210.0M vs $128.8M），过去两年Murphy USA Inc.的营收复合增速更高（-1.0% vs -3.9%）
贝克休斯是一家总部位于美国得克萨斯州休斯敦和英国伦敦的全球能源技术企业，也是全球规模最大的油田服务、工业及能源技术公司之一，业务覆盖120余个国家，为油气行业的勘探开采环节以及其他能源与工业应用场景提供产品和服务。
墨菲美国是总部位于美国阿肯色州埃尔多拉多的企业，2013年由墨菲石油分拆后独立运营，主营连锁零售加油站业务，旗下站点大多毗邻沃尔玛门店开设，为消费者提供燃油及配套零售服务。
BKR vs MUSA — 直观对比
营收规模更大
BKR
是对方的1.4倍
$4.7B
营收增速更快
BKR
高出1.8%
0.7%
净利率更高
BKR
高出11.1%
3.0%
自由现金流更多
BKR
多$81.2M
$128.8M
两年增速更快
MUSA
近两年复合增速
-3.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.6B | $4.7B |
| 净利润 | $930.0M | $141.9M |
| 毛利率 | 22.8% | — |
| 营业利润率 | — | 4.4% |
| 净利率 | 14.1% | 3.0% |
| 营收同比 | 2.5% | 0.7% |
| 净利润同比 | 131.3% | -0.4% |
| 每股收益（稀释后） | $0.93 | $7.35 |
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BKRMUSA
| Q1 26 | $6.6B | — | ||
| Q4 25 | $7.4B | $4.7B | ||
| Q3 25 | $7.0B | $5.1B | ||
| Q2 25 | $6.9B | $5.0B | ||
| Q1 25 | $6.4B | $4.5B | ||
| Q4 24 | $7.4B | $4.7B | ||
| Q3 24 | $6.9B | $5.2B | ||
| Q2 24 | $7.1B | $5.5B |
净利润BKRMUSA
| Q1 26 | $930.0M | — | ||
| Q4 25 | $876.0M | $141.9M | ||
| Q3 25 | $609.0M | $129.9M | ||
| Q2 25 | $701.0M | $145.6M | ||
| Q1 25 | $402.0M | $53.2M | ||
| Q4 24 | $1.2B | $142.5M | ||
| Q3 24 | $766.0M | $149.2M | ||
| Q2 24 | $579.0M | $144.8M |
毛利率BKRMUSA
| Q1 26 | 22.8% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率BKRMUSA
| Q1 26 | — | — | ||
| Q4 25 | 7.1% | 4.4% | ||
| Q3 25 | 11.7% | 3.9% | ||
| Q2 25 | 14.0% | 4.4% | ||
| Q1 25 | 8.7% | 1.9% | ||
| Q4 24 | 9.0% | 4.2% | ||
| Q3 24 | 13.5% | 4.2% | ||
| Q2 24 | 11.7% | 4.0% |
净利率BKRMUSA
| Q1 26 | 14.1% | — | ||
| Q4 25 | 11.9% | 3.0% | ||
| Q3 25 | 8.7% | 2.5% | ||
| Q2 25 | 10.1% | 2.9% | ||
| Q1 25 | 6.3% | 1.2% | ||
| Q4 24 | 16.0% | 3.0% | ||
| Q3 24 | 11.1% | 2.8% | ||
| Q2 24 | 8.1% | 2.7% |
每股收益（稀释后）BKRMUSA
| Q1 26 | $0.93 | — | ||
| Q4 25 | — | $7.35 | ||
| Q3 25 | — | $6.76 | ||
| Q2 25 | — | $7.36 | ||
| Q1 25 | — | $2.63 | ||
| Q4 24 | — | $6.87 | ||
| Q3 24 | — | $7.20 | ||
| Q2 24 | — | $6.92 |
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 | $14.8B | $28.9M |
| 总债务越低越好 | $16.2B | $2.2B |
| 股东权益账面价值 | $19.5B | $623.5M |
| 总资产 | $50.9B | $4.7B |
| 负债/权益比越低杠杆越低 | 0.83× | 3.47× |
8季度趋势，按日历期对齐
现金及短期投资BKRMUSA
| Q1 26 | $14.8B | — | ||
| Q4 25 | — | $28.9M | ||
| Q3 25 | — | $42.8M | ||
| Q2 25 | — | $54.1M | ||
| Q1 25 | — | $49.4M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | — | $52.5M | ||
| Q2 24 | — | $79.8M |
总债务BKRMUSA
| Q1 26 | $16.2B | — | ||
| Q4 25 | $5.4B | $2.2B | ||
| Q3 25 | $6.0B | $2.2B | ||
| Q2 25 | $6.0B | $2.1B | ||
| Q1 25 | $6.0B | $2.0B | ||
| Q4 24 | $6.0B | $1.8B | ||
| Q3 24 | $6.0B | $1.8B | ||
| Q2 24 | $5.9B | $1.8B |
股东权益BKRMUSA
| Q1 26 | $19.5B | — | ||
| Q4 25 | $18.8B | $623.5M | ||
| Q3 25 | $18.2B | $546.0M | ||
| Q2 25 | $17.7B | $646.1M | ||
| Q1 25 | $17.0B | $719.6M | ||
| Q4 24 | $16.9B | $840.1M | ||
| Q3 24 | $16.2B | $830.1M | ||
| Q2 24 | $15.6B | $811.3M |
总资产BKRMUSA
| Q1 26 | $50.9B | — | ||
| Q4 25 | $40.9B | $4.7B | ||
| Q3 25 | $39.2B | $4.7B | ||
| Q2 25 | $38.7B | $4.6B | ||
| Q1 25 | $38.1B | $4.5B | ||
| Q4 24 | $38.4B | $4.5B | ||
| Q3 24 | $37.5B | $4.4B | ||
| Q2 24 | $36.7B | $4.4B |
负债/权益比BKRMUSA
| Q1 26 | 0.83× | — | ||
| Q4 25 | 0.29× | 3.47× | ||
| Q3 25 | 0.33× | 4.07× | ||
| Q2 25 | 0.34× | 3.20× | ||
| Q1 25 | 0.35× | 2.74× | ||
| Q4 24 | 0.35× | 2.18× | ||
| Q3 24 | 0.37× | 2.19× | ||
| Q2 24 | 0.38× | 2.20× |
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 | — | $245.5M |
| 自由现金流经营现金流 - 资本支出 | $210.0M | $128.8M |
| 自由现金流率自由现金流/营收 | 3.2% | 2.7% |
| 资本支出强度资本支出/营收 | 4.4% | 2.5% |
| 现金转化率经营现金流/净利润 | — | 1.73× |
| 过去12个月自由现金流最近4个季度 | $2.3B | $374.3M |
8季度趋势，按日历期对齐
经营现金流BKRMUSA
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $245.5M | ||
| Q3 25 | $929.0M | $184.8M | ||
| Q2 25 | $510.0M | $255.1M | ||
| Q1 25 | $709.0M | $128.5M | ||
| Q4 24 | $1.2B | $248.7M | ||
| Q3 24 | $1.0B | $202.1M | ||
| Q2 24 | $348.0M | $260.8M |
自由现金流BKRMUSA
| Q1 26 | $210.0M | — | ||
| Q4 25 | $1.3B | $128.8M | ||
| Q3 25 | $634.0M | $67.7M | ||
| Q2 25 | $209.0M | $137.1M | ||
| Q1 25 | $409.0M | $40.7M | ||
| Q4 24 | $837.0M | $121.7M | ||
| Q3 24 | $710.0M | $65.2M | ||
| Q2 24 | $56.0M | $142.8M |
自由现金流率BKRMUSA
| Q1 26 | 3.2% | — | ||
| Q4 25 | 17.4% | 2.7% | ||
| Q3 25 | 9.0% | 1.3% | ||
| Q2 25 | 3.0% | 2.7% | ||
| Q1 25 | 6.4% | 0.9% | ||
| Q4 24 | 11.4% | 2.6% | ||
| Q3 24 | 10.3% | 1.2% | ||
| Q2 24 | 0.8% | 2.6% |
资本支出强度BKRMUSA
| Q1 26 | 4.4% | — | ||
| Q4 25 | 5.1% | 2.5% | ||
| Q3 25 | 4.2% | 2.3% | ||
| Q2 25 | 4.4% | 2.4% | ||
| Q1 25 | 4.7% | 1.9% | ||
| Q4 24 | 4.8% | 2.7% | ||
| Q3 24 | 4.3% | 2.6% | ||
| Q2 24 | 4.1% | 2.2% |
现金转化率BKRMUSA
| Q1 26 | — | — | ||
| Q4 25 | 1.90× | 1.73× | ||
| Q3 25 | 1.53× | 1.42× | ||
| Q2 25 | 0.73× | 1.75× | ||
| Q1 25 | 1.76× | 2.42× | ||
| Q4 24 | 1.01× | 1.75× | ||
| Q3 24 | 1.32× | 1.35× | ||
| Q2 24 | 0.60× | 1.80× |
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
BKR
暂无分部数据
MUSA
| Product Sales Petroleum Retail | $3.3B | 69% |
| Merchandise | $1.1B | 23% |
| Product Sales Petroleum Wholesale | $327.9M | 7% |
| Other | $57.0M | 1% |
| Renewable Identification Numbers | $55.3M | 1% |
| Revenue Other | $1.3M | 0% |
