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科慕（CC）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的季度营收约是科慕的1.8倍（$2.5B vs $1.3B），MPLX LP净利率更高（49.1% vs -3.5%，领先52.6%），MPLX LP同比增速更快（1.4% vs -2.1%），MPLX LP自由现金流更多（$782.0M vs $92.0M），过去两年MPLX LP的营收复合增速更高（6.2% 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。
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。
CC vs MPLX — 直观对比
营收规模更大
MPLX
是对方的1.8倍
$1.3B
营收增速更快
MPLX
高出3.5%
-2.1%
净利率更高
MPLX
高出52.6%
-3.5%
自由现金流更多
MPLX
多$690.0M
$92.0M
两年增速更快
MPLX
近两年复合增速
-1.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.5B |
| 净利润 | $-47.0M | $1.2B |
| 毛利率 | 11.7% | — |
| 营业利润率 | — | 60.5% |
| 净利率 | -3.5% | 49.1% |
| 营收同比 | -2.1% | 1.4% |
| 净利润同比 | -261.5% | 8.5% |
| 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CCMPLX
| Q4 25 | $1.3B | $2.5B | ||
| Q3 25 | $1.5B | $2.5B | ||
| Q2 25 | $1.6B | $2.4B | ||
| Q1 25 | $1.4B | $2.5B | ||
| Q4 24 | $1.4B | $2.4B | ||
| Q3 24 | $1.5B | $2.3B | ||
| Q2 24 | $1.6B | $2.3B | ||
| Q1 24 | $1.4B | $2.2B |
净利润CCMPLX
| Q4 25 | $-47.0M | $1.2B | ||
| Q3 25 | $46.0M | $1.6B | ||
| Q2 25 | $-380.0M | $1.1B | ||
| Q1 25 | $-5.0M | $1.1B | ||
| Q4 24 | $-13.0M | $1.1B | ||
| Q3 24 | $-32.0M | $1.0B | ||
| Q2 24 | $60.0M | $1.2B | ||
| Q1 24 | $54.0M | $1.0B |
毛利率CCMPLX
| Q4 25 | 11.7% | — | ||
| Q3 25 | 15.6% | — | ||
| Q2 25 | 17.2% | — | ||
| Q1 25 | 17.3% | — | ||
| Q4 24 | 19.4% | — | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 19.8% | — | ||
| Q1 24 | 20.9% | — |
营业利润率CCMPLX
| Q4 25 | — | 60.5% | ||
| Q3 25 | 2.5% | 73.2% | ||
| Q2 25 | -15.4% | 54.9% | ||
| Q1 25 | — | 55.5% | ||
| Q4 24 | -0.1% | 55.6% | ||
| Q3 24 | -2.1% | 54.4% | ||
| Q2 24 | 4.4% | 62.9% | ||
| Q1 24 | 5.1% | 57.6% |
净利率CCMPLX
| Q4 25 | -3.5% | 49.1% | ||
| Q3 25 | 3.1% | 63.2% | ||
| Q2 25 | -23.5% | 44.9% | ||
| Q1 25 | -0.4% | 46.2% | ||
| Q4 24 | -1.0% | 45.9% | ||
| Q3 24 | -2.1% | 44.6% | ||
| Q2 24 | 3.9% | 52.6% | ||
| Q1 24 | 4.0% | 46.7% |
每股收益（稀释后）CCMPLX
| 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 | $2.1B |
| 总债务越低越好 | $4.1B | $24.2B |
| 股东权益账面价值 | $250.0M | — |
| 总资产 | $7.4B | $43.0B |
| 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CCMPLX
| Q4 25 | $670.0M | $2.1B | ||
| Q3 25 | $613.0M | $1.8B | ||
| Q2 25 | $502.0M | $1.4B | ||
| Q1 25 | $464.0M | $2.5B | ||
| Q4 24 | $713.0M | $1.5B | ||
| Q3 24 | $596.0M | $2.4B | ||
| Q2 24 | $604.0M | $2.5B | ||
| Q1 24 | $746.0M | $385.0M |
总债务CCMPLX
| Q4 25 | $4.1B | $24.2B | ||
| Q3 25 | $4.1B | $24.1B | ||
| Q2 25 | $4.1B | $19.7B | ||
| Q1 25 | $4.1B | $19.7B | ||
| Q4 24 | $4.1B | $19.3B | ||
| Q3 24 | $4.0B | $19.3B | ||
| Q2 24 | $4.0B | $19.2B | ||
| Q1 24 | $4.0B | $18.8B |
股东权益CCMPLX
| 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CCMPLX
| Q4 25 | $7.4B | $43.0B | ||
| Q3 25 | $7.5B | $43.2B | ||
| Q2 25 | $7.5B | $37.8B | ||
| Q1 25 | $7.4B | $39.0B | ||
| Q4 24 | $7.5B | $37.5B | ||
| Q3 24 | $7.5B | $38.5B | ||
| Q2 24 | $7.2B | $38.4B | ||
| Q1 24 | $8.0B | $36.5B |
负债/权益比CCMPLX
| 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 | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $92.0M | $782.0M |
| 自由现金流率自由现金流/营收 | 6.9% | 31.9% |
| 资本支出强度资本支出/营收 | 3.4% | 29.1% |
| 现金转化率经营现金流/净利润 | — | 1.24× |
| 过去12个月自由现金流最近4个季度 | $51.0M | $4.1B |
8季度趋势，按日历期对齐
经营现金流CCMPLX
| Q4 25 | $137.0M | $1.5B | ||
| Q3 25 | $146.0M | $1.4B | ||
| Q2 25 | $93.0M | $1.7B | ||
| Q1 25 | $-112.0M | $1.2B | ||
| Q4 24 | $138.0M | $1.7B | ||
| Q3 24 | $139.0M | $1.4B | ||
| Q2 24 | $-620.0M | $1.6B | ||
| Q1 24 | $-290.0M | $1.3B |
自由现金流CCMPLX
| Q4 25 | $92.0M | $782.0M | ||
| Q3 25 | $105.0M | $905.0M | ||
| Q2 25 | $50.0M | $1.4B | ||
| Q1 25 | $-196.0M | $979.0M | ||
| Q4 24 | $29.0M | $1.4B | ||
| Q3 24 | $63.0M | $1.1B | ||
| Q2 24 | $-693.0M | $1.4B | ||
| Q1 24 | $-392.0M | $1.0B |
自由现金流率CCMPLX
| Q4 25 | 6.9% | 31.9% | ||
| Q3 25 | 7.0% | 36.8% | ||
| Q2 25 | 3.1% | 60.9% | ||
| Q1 25 | -14.3% | 39.8% | ||
| Q4 24 | 2.1% | 56.6% | ||
| Q3 24 | 4.2% | 48.4% | ||
| Q2 24 | -44.6% | 60.0% | ||
| Q1 24 | -28.8% | 47.7% |
资本支出强度CCMPLX
| Q4 25 | 3.4% | 29.1% | ||
| Q3 25 | 2.7% | 21.4% | ||
| Q2 25 | 2.7% | 12.8% | ||
| Q1 25 | 6.1% | 10.9% | ||
| Q4 24 | 8.0% | 12.7% | ||
| Q3 24 | 5.0% | 11.9% | ||
| Q2 24 | 4.7% | 9.4% | ||
| Q1 24 | 7.5% | 11.7% |
现金转化率CCMPLX
| Q4 25 | — | 1.24× | ||
| Q3 25 | 3.17× | 0.92× | ||
| Q2 25 | — | 1.64× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | — | 1.35× | ||
| Q2 24 | -10.33× | 1.32× | ||
| Q1 24 | -5.37× | 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
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% |
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% |
