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科慕（CC）与GLOBAL PARTNERS LP（GLP）财务数据对比。点击上方公司名可切换其他公司
GLOBAL PARTNERS LP的季度营收约是科慕的1.7倍（$2.2B vs $1.3B），GLOBAL PARTNERS LP净利率更高（1.1% vs -3.5%，领先4.7%），GLOBAL PARTNERS LP同比增速更快（7.0% vs -2.1%），科慕自由现金流更多（$92.0M vs $62.2M），过去两年GLOBAL PARTNERS LP的营收复合增速更高（0.2% vs -1.2%）
科慕公司是一家美国化工企业，2015年7月从杜邦分拆成立，总部位于美国特拉华州威尔明顿。公司主营产品包括具备不粘特性的知名品牌特氟龙（聚四氟乙烯PTFE）、二氧化钛以及制冷剂气体，在特种化工领域拥有深厚的技术积累。
Global Partners LP是一家美国能源供应企业，2018年位列《财富》世界500强第361位，采用业主有限合伙制架构，核心业务为石油产品进口，深耕北美市场开展营销活动，批发的产品涵盖原油、柴油、汽油、取暖油及煤油等品类。
CC vs GLP — 直观对比
营收规模更大
GLP
是对方的1.7倍
$1.3B
营收增速更快
GLP
高出9.0%
-2.1%
净利率更高
GLP
高出4.7%
-3.5%
自由现金流更多
CC
多$29.8M
$62.2M
两年增速更快
GLP
近两年复合增速
-1.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.2B |
| 净利润 | $-47.0M | $25.1M |
| 毛利率 | 11.7% | 11.9% |
| 营业利润率 | — | 2.6% |
| 净利率 | -3.5% | 1.1% |
| 营收同比 | -2.1% | 7.0% |
| 净利润同比 | -261.5% | 5.0% |
| 每股收益（稀释后） | $-0.32 | — |
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CCGLP
| Q4 25 | $1.3B | $2.2B | ||
| Q3 25 | $1.5B | $2.2B | ||
| Q2 25 | $1.6B | $2.1B | ||
| Q1 25 | $1.4B | $2.2B | ||
| Q4 24 | $1.4B | $2.1B | ||
| Q3 24 | $1.5B | $2.1B | ||
| Q2 24 | $1.6B | $2.3B | ||
| Q1 24 | $1.4B | $2.2B |
净利润CCGLP
| Q4 25 | $-47.0M | $25.1M | ||
| Q3 25 | $46.0M | $29.0M | ||
| Q2 25 | $-380.0M | $25.2M | ||
| Q1 25 | $-5.0M | $18.7M | ||
| Q4 24 | $-13.0M | $23.9M | ||
| Q3 24 | $-32.0M | $45.9M | ||
| Q2 24 | $60.0M | $46.1M | ||
| Q1 24 | $54.0M | $-5.6M |
毛利率CCGLP
| Q4 25 | 11.7% | 11.9% | ||
| Q3 25 | 15.6% | 12.1% | ||
| Q2 25 | 17.2% | 13.1% | ||
| Q1 25 | 17.3% | 11.7% | ||
| Q4 24 | 19.4% | 13.0% | ||
| Q3 24 | 19.0% | 13.4% | ||
| Q2 24 | 19.8% | 12.6% | ||
| Q1 24 | 20.9% | 9.8% |
营业利润率CCGLP
| Q4 25 | — | 2.6% | ||
| Q3 25 | 2.5% | 2.7% | ||
| Q2 25 | -15.4% | 2.9% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | -0.1% | 2.8% | ||
| Q3 24 | -2.1% | 3.9% | ||
| Q2 24 | 4.4% | 3.7% | ||
| Q1 24 | 5.1% | 1.2% |
净利率CCGLP
| Q4 25 | -3.5% | 1.1% | ||
| Q3 25 | 3.1% | 1.3% | ||
| Q2 25 | -23.5% | 1.2% | ||
| Q1 25 | -0.4% | 0.9% | ||
| Q4 24 | -1.0% | 1.2% | ||
| Q3 24 | -2.1% | 2.1% | ||
| Q2 24 | 3.9% | 2.0% | ||
| Q1 24 | 4.0% | -0.3% |
每股收益（稀释后）CCGLP
| Q4 25 | $-0.32 | — | ||
| Q3 25 | $0.31 | — | ||
| Q2 25 | $-2.53 | — | ||
| Q1 25 | $-0.03 | — | ||
| Q4 24 | $-0.07 | — | ||
| Q3 24 | $-0.22 | — | ||
| Q2 24 | $0.39 | — | ||
| Q1 24 | $0.36 | — |
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 | $670.0M | — |
| 总债务越低越好 | $4.1B | — |
| 股东权益账面价值 | $250.0M | — |
| 总资产 | $7.4B | $3.9B |
| 负债/权益比越低杠杆越低 | 16.40× | — |
8季度趋势，按日历期对齐
现金及短期投资CCGLP
| Q4 25 | $670.0M | — | ||
| Q3 25 | $613.0M | — | ||
| Q2 25 | $502.0M | — | ||
| Q1 25 | $464.0M | — | ||
| Q4 24 | $713.0M | — | ||
| Q3 24 | $596.0M | — | ||
| Q2 24 | $604.0M | — | ||
| Q1 24 | $746.0M | — |
总债务CCGLP
| Q4 25 | $4.1B | — | ||
| Q3 25 | $4.1B | — | ||
| Q2 25 | $4.1B | — | ||
| Q1 25 | $4.1B | — | ||
| Q4 24 | $4.1B | — | ||
| Q3 24 | $4.0B | — | ||
| Q2 24 | $4.0B | — | ||
| Q1 24 | $4.0B | — |
股东权益CCGLP
| Q4 25 | $250.0M | — | ||
| Q3 25 | $274.0M | — | ||
| Q2 25 | $228.0M | — | ||
| Q1 25 | $566.0M | — | ||
| Q4 24 | $571.0M | — | ||
| Q3 24 | $643.0M | — | ||
| Q2 24 | $714.0M | — | ||
| Q1 24 | $753.0M | — |
总资产CCGLP
| Q4 25 | $7.4B | $3.9B | ||
| Q3 25 | $7.5B | $3.7B | ||
| Q2 25 | $7.5B | $3.8B | ||
| Q1 25 | $7.4B | $3.8B | ||
| Q4 24 | $7.5B | $3.8B | ||
| Q3 24 | $7.5B | $3.7B | ||
| Q2 24 | $7.2B | $3.8B | ||
| Q1 24 | $8.0B | $3.5B |
负债/权益比CCGLP
| Q4 25 | 16.40× | — | ||
| Q3 25 | 14.96× | — | ||
| Q2 25 | 17.99× | — | ||
| Q1 25 | 7.18× | — | ||
| Q4 24 | 7.11× | — | ||
| Q3 24 | 6.20× | — | ||
| Q2 24 | 5.53× | — | ||
| Q1 24 | 5.27× | — |
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 | $137.0M | $101.0M |
| 自由现金流经营现金流 - 资本支出 | $92.0M | $62.2M |
| 自由现金流率自由现金流/营收 | 6.9% | 2.8% |
| 资本支出强度资本支出/营收 | 3.4% | 1.8% |
| 现金转化率经营现金流/净利润 | — | 4.03× |
| 过去12个月自由现金流最近4个季度 | $51.0M | $193.3M |
8季度趋势，按日历期对齐
经营现金流CCGLP
| Q4 25 | $137.0M | $101.0M | ||
| Q3 25 | $146.0M | $19.0M | ||
| Q2 25 | $93.0M | $216.3M | ||
| Q1 25 | $-112.0M | $-51.6M | ||
| Q4 24 | $138.0M | $67.2M | ||
| Q3 24 | $139.0M | $122.7M | ||
| Q2 24 | $-620.0M | $24.3M | ||
| Q1 24 | $-290.0M | $-182.7M |
自由现金流CCGLP
| Q4 25 | $92.0M | $62.2M | ||
| Q3 25 | $105.0M | $-678.0K | ||
| Q2 25 | $50.0M | $201.3M | ||
| Q1 25 | $-196.0M | $-69.5M | ||
| Q4 24 | $29.0M | $20.4M | ||
| Q3 24 | $63.0M | $98.4M | ||
| Q2 24 | $-693.0M | $8.7M | ||
| Q1 24 | $-392.0M | $-199.3M |
自由现金流率CCGLP
| Q4 25 | 6.9% | 2.8% | ||
| Q3 25 | 7.0% | -0.0% | ||
| Q2 25 | 3.1% | 9.7% | ||
| Q1 25 | -14.3% | -3.2% | ||
| Q4 24 | 2.1% | 1.0% | ||
| Q3 24 | 4.2% | 4.6% | ||
| Q2 24 | -44.6% | 0.4% | ||
| Q1 24 | -28.8% | -9.0% |
资本支出强度CCGLP
| Q4 25 | 3.4% | 1.8% | ||
| Q3 25 | 2.7% | 0.9% | ||
| Q2 25 | 2.7% | 0.7% | ||
| Q1 25 | 6.1% | 0.8% | ||
| Q4 24 | 8.0% | 2.3% | ||
| Q3 24 | 5.0% | 1.1% | ||
| Q2 24 | 4.7% | 0.7% | ||
| Q1 24 | 7.5% | 0.8% |
现金转化率CCGLP
| Q4 25 | — | 4.03× | ||
| Q3 25 | 3.17× | 0.66× | ||
| Q2 25 | — | 8.58× | ||
| Q1 25 | — | -2.76× | ||
| Q4 24 | — | 2.82× | ||
| Q3 24 | — | 2.67× | ||
| Q2 24 | -10.33× | 0.53× | ||
| Q1 24 | -5.37× | — |
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
CC
| Titanium Technologies | $563.0M | 42% |
| Thermal And Specialized Solutions | $443.0M | 33% |
| Advanced Performance Materials | $312.0M | 23% |
| Other Non-Reportable Segment | $12.0M | 1% |
GLP
| Gasoline | $1.0B | 46% |
| Refined Petroleum Products Renewable Fuels Crude Oil And Propane | $884.7M | 40% |
| Commercial Segment | $187.6M | 8% |
| Station Operations | $110.5M | 5% |
