vs
CenterPoint Energy（CNP）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CenterPoint Energy的1.0倍（$2.5B vs $2.4B），MPLX LP净利率更高（49.1% vs 10.8%，领先38.3%），CenterPoint Energy同比增速更快（10.7% vs 1.4%），MPLX LP自由现金流更多（$782.0M vs $-707.0M），过去两年MPLX LP的营收复合增速更高（6.2% vs -3.1%）
CenterPoint Energy是总部位于美国得克萨斯州休斯敦的公用事业企业，位列《财富》美国500强，为印第安纳、俄亥俄、路易斯安那、明尼苏达、密西西比、得克萨斯六州多个区域的用户提供电力及天然气公用事业服务，曾使用Reliant Energy、Houston Industries等名称开展业务。
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。
CNP vs MPLX — 直观对比
营收规模更大
MPLX
是对方的1.0倍
$2.4B
营收增速更快
CNP
高出9.3%
1.4%
净利率更高
MPLX
高出38.3%
10.8%
自由现金流更多
MPLX
多$1.5B
$-707.0M
两年增速更快
MPLX
近两年复合增速
-3.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $2.5B |
| 净利润 | $264.0M | $1.2B |
| 毛利率 | — | — |
| 营业利润率 | 22.2% | 60.5% |
| 净利率 | 10.8% | 49.1% |
| 营收同比 | 10.7% | 1.4% |
| 净利润同比 | 6.5% | 8.5% |
| 每股收益（稀释后） | $0.40 | — |
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CNPMPLX
| Q4 25 | $2.4B | $2.5B | ||
| Q3 25 | $2.0B | $2.5B | ||
| Q2 25 | $2.0B | $2.4B | ||
| Q1 25 | $3.0B | $2.5B | ||
| Q4 24 | $2.2B | $2.4B | ||
| Q3 24 | $1.8B | $2.3B | ||
| Q2 24 | $1.9B | $2.3B | ||
| Q1 24 | $2.6B | $2.2B |
净利润CNPMPLX
| Q4 25 | $264.0M | $1.2B | ||
| Q3 25 | $293.0M | $1.6B | ||
| Q2 25 | $198.0M | $1.1B | ||
| Q1 25 | $297.0M | $1.1B | ||
| Q4 24 | $248.0M | $1.1B | ||
| Q3 24 | $193.0M | $1.0B | ||
| Q2 24 | $228.0M | $1.2B | ||
| Q1 24 | $350.0M | $1.0B |
毛利率CNPMPLX
| Q4 25 | — | — | ||
| Q3 25 | 99.9% | — | ||
| Q2 25 | 99.9% | — | ||
| Q1 25 | 100.0% | — | ||
| Q4 24 | 100.0% | — | ||
| Q3 24 | 99.9% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 100.0% | — |
营业利润率CNPMPLX
| Q4 25 | 22.2% | 60.5% | ||
| Q3 25 | 25.2% | 73.2% | ||
| Q2 25 | 21.4% | 54.9% | ||
| Q1 25 | 22.0% | 55.5% | ||
| Q4 24 | 21.9% | 55.6% | ||
| Q3 24 | 22.9% | 54.4% | ||
| Q2 24 | 24.5% | 62.9% | ||
| Q1 24 | 23.7% | 57.6% |
净利率CNPMPLX
| Q4 25 | 10.8% | 49.1% | ||
| Q3 25 | 14.7% | 63.2% | ||
| Q2 25 | 10.1% | 44.9% | ||
| Q1 25 | 10.0% | 46.2% | ||
| Q4 24 | 11.3% | 45.9% | ||
| Q3 24 | 10.4% | 44.6% | ||
| Q2 24 | 12.0% | 52.6% | ||
| Q1 24 | 13.5% | 46.7% |
每股收益（稀释后）CNPMPLX
| Q4 25 | $0.40 | — | ||
| Q3 25 | $0.45 | — | ||
| Q2 25 | $0.30 | — | ||
| Q1 25 | $0.45 | — | ||
| Q4 24 | $0.37 | — | ||
| Q3 24 | $0.30 | — | ||
| Q2 24 | $0.36 | — | ||
| Q1 24 | $0.55 | — |
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 | $548.0M | $2.1B |
| 总债务越低越好 | $20.6B | $24.2B |
| 股东权益账面价值 | $11.2B | — |
| 总资产 | $46.5B | $43.0B |
| 负债/权益比越低杠杆越低 | 1.84× | — |
8季度趋势，按日历期对齐
现金及短期投资CNPMPLX
| Q4 25 | $548.0M | $2.1B | ||
| Q3 25 | $616.0M | $1.8B | ||
| Q2 25 | $776.0M | $1.4B | ||
| Q1 25 | $1.9B | $2.5B | ||
| Q4 24 | $585.0M | $1.5B | ||
| Q3 24 | $643.0M | $2.4B | ||
| Q2 24 | $543.0M | $2.5B | ||
| Q1 24 | $619.0M | $385.0M |
总债务CNPMPLX
| Q4 25 | $20.6B | $24.2B | ||
| Q3 25 | — | $24.1B | ||
| Q2 25 | — | $19.7B | ||
| Q1 25 | — | $19.7B | ||
| Q4 24 | $20.4B | $19.3B | ||
| Q3 24 | — | $19.3B | ||
| Q2 24 | — | $19.2B | ||
| Q1 24 | — | $18.8B |
股东权益CNPMPLX
| Q4 25 | $11.2B | — | ||
| Q3 25 | $11.0B | — | ||
| Q2 25 | $11.0B | — | ||
| Q1 25 | $11.0B | — | ||
| Q4 24 | $10.7B | — | ||
| Q3 24 | $10.5B | — | ||
| Q2 24 | $10.4B | — | ||
| Q1 24 | $10.0B | — |
总资产CNPMPLX
| Q4 25 | $46.5B | $43.0B | ||
| Q3 25 | $45.0B | $43.2B | ||
| Q2 25 | $44.1B | $37.8B | ||
| Q1 25 | $44.5B | $39.0B | ||
| Q4 24 | $43.8B | $37.5B | ||
| Q3 24 | $42.9B | $38.5B | ||
| Q2 24 | $41.0B | $38.4B | ||
| Q1 24 | $40.2B | $36.5B |
负债/权益比CNPMPLX
| Q4 25 | 1.84× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.91× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $774.0M | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $-707.0M | $782.0M |
| 自由现金流率自由现金流/营收 | -29.0% | 31.9% |
| 资本支出强度资本支出/营收 | 60.7% | 29.1% |
| 现金转化率经营现金流/净利润 | 2.93× | 1.24× |
| 过去12个月自由现金流最近4个季度 | $-2.4B | $4.1B |
8季度趋势，按日历期对齐
经营现金流CNPMPLX
| Q4 25 | $774.0M | $1.5B | ||
| Q3 25 | $742.0M | $1.4B | ||
| Q2 25 | $560.0M | $1.7B | ||
| Q1 25 | $410.0M | $1.2B | ||
| Q4 24 | $889.0M | $1.7B | ||
| Q3 24 | $136.0M | $1.4B | ||
| Q2 24 | $576.0M | $1.6B | ||
| Q1 24 | $538.0M | $1.3B |
自由现金流CNPMPLX
| Q4 25 | $-707.0M | $782.0M | ||
| Q3 25 | $-480.0M | $905.0M | ||
| Q2 25 | $-569.0M | $1.4B | ||
| Q1 25 | $-628.0M | $979.0M | ||
| Q4 24 | $-1.1B | $1.4B | ||
| Q3 24 | $-708.0M | $1.1B | ||
| Q2 24 | $-236.0M | $1.4B | ||
| Q1 24 | $-307.0M | $1.0B |
自由现金流率CNPMPLX
| Q4 25 | -29.0% | 31.9% | ||
| Q3 25 | -24.1% | 36.8% | ||
| Q2 25 | -29.1% | 60.9% | ||
| Q1 25 | -21.2% | 39.8% | ||
| Q4 24 | -51.0% | 56.6% | ||
| Q3 24 | -38.3% | 48.4% | ||
| Q2 24 | -12.4% | 60.0% | ||
| Q1 24 | -11.8% | 47.7% |
资本支出强度CNPMPLX
| Q4 25 | 60.7% | 29.1% | ||
| Q3 25 | 61.4% | 21.4% | ||
| Q2 25 | 57.8% | 12.8% | ||
| Q1 25 | 35.1% | 10.9% | ||
| Q4 24 | 91.3% | 12.7% | ||
| Q3 24 | 45.6% | 11.9% | ||
| Q2 24 | 42.6% | 9.4% | ||
| Q1 24 | 32.6% | 11.7% |
现金转化率CNPMPLX
| Q4 25 | 2.93× | 1.24× | ||
| Q3 25 | 2.53× | 0.92× | ||
| Q2 25 | 2.83× | 1.64× | ||
| Q1 25 | 1.38× | 1.10× | ||
| Q4 24 | 3.58× | 1.51× | ||
| Q3 24 | 0.70× | 1.35× | ||
| Q2 24 | 2.53× | 1.32× | ||
| Q1 24 | 1.54× | 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
CNP
| Electric Segment | $945.0M | 39% |
| Electric | $890.0M | 37% |
| Other | $603.0M | 25% |
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% |
