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康菲石油（COP）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
康菲石油的季度营收约是GLOBAL PARTNERS LP的5.2倍（$11.4B vs $2.2B）。康菲石油净利率更高（12.7% vs 1.1%，领先11.5%）。GLOBAL PARTNERS LP同比增速更快（7.0% vs -10.7%）。过去两年GLOBAL PARTNERS LP的营收复合增速更高（0.2% vs -3.8%）
康菲石油是总部位于美国得克萨斯州休斯敦能源走廊区的跨国能源企业，核心业务涵盖油气等碳氢化合物的勘探与开采，业务布局覆盖全球多个国家和地区，是全球领先的独立勘探开发类能源企业之一。
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。
COP vs GLP — 直观对比
营收规模更大
COP
是对方的5.2倍
$2.2B
营收增速更快
GLP
高出17.7%
-10.7%
净利率更高
COP
高出11.5%
1.1%
两年增速更快
GLP
近两年复合增速
-3.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $11.4B | $2.2B |
| 净利润 | $1.4B | $25.1M |
| 毛利率 | 54.4% | 11.9% |
| 营业利润率 | 19.7% | 2.6% |
| 净利率 | 12.7% | 1.1% |
| 营收同比 | -10.7% | 7.0% |
| 净利润同比 | -37.5% | 5.0% |
| 每股收益（稀释后） | $1.18 | — |
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COPGLP
| Q4 25 | $11.4B | $2.2B | ||
| Q3 25 | $13.3B | $2.2B | ||
| Q2 25 | $12.6B | $2.1B | ||
| Q1 25 | $14.5B | $2.2B | ||
| Q4 24 | $12.7B | $2.1B | ||
| Q3 24 | $11.7B | $2.1B | ||
| Q2 24 | $12.7B | $2.3B | ||
| Q1 24 | $12.3B | $2.2B |
净利润COPGLP
| Q4 25 | $1.4B | $25.1M | ||
| Q3 25 | $1.7B | $29.0M | ||
| Q2 25 | $2.0B | $25.2M | ||
| Q1 25 | $2.8B | $18.7M | ||
| Q4 24 | $2.3B | $23.9M | ||
| Q3 24 | $2.1B | $45.9M | ||
| Q2 24 | $2.3B | $46.1M | ||
| Q1 24 | $2.6B | $-5.6M |
毛利率COPGLP
| Q4 25 | 54.4% | 11.9% | ||
| Q3 25 | 56.1% | 12.1% | ||
| Q2 25 | 59.7% | 13.1% | ||
| Q1 25 | 57.3% | 11.7% | ||
| Q4 24 | 60.2% | 13.0% | ||
| Q3 24 | 59.4% | 13.4% | ||
| Q2 24 | 61.6% | 12.6% | ||
| Q1 24 | 56.7% | 9.8% |
营业利润率COPGLP
| Q4 25 | 19.7% | 2.6% | ||
| Q3 25 | 22.0% | 2.7% | ||
| Q2 25 | 23.9% | 2.9% | ||
| Q1 25 | 30.8% | 2.6% | ||
| Q4 24 | 23.3% | 2.8% | ||
| Q3 24 | 27.6% | 3.9% | ||
| Q2 24 | 28.9% | 3.7% | ||
| Q1 24 | 30.9% | 1.2% |
净利率COPGLP
| Q4 25 | 12.7% | 1.1% | ||
| Q3 25 | 12.9% | 1.3% | ||
| Q2 25 | 15.6% | 1.2% | ||
| Q1 25 | 19.7% | 0.9% | ||
| Q4 24 | 18.1% | 1.2% | ||
| Q3 24 | 17.6% | 2.1% | ||
| Q2 24 | 18.4% | 2.0% | ||
| Q1 24 | 20.7% | -0.3% |
每股收益（稀释后）COPGLP
| Q4 25 | $1.18 | — | ||
| Q3 25 | $1.38 | — | ||
| Q2 25 | $1.56 | — | ||
| Q1 25 | $2.23 | — | ||
| Q4 24 | $1.92 | — | ||
| Q3 24 | $1.76 | — | ||
| Q2 24 | $1.98 | — | ||
| Q1 24 | $2.15 | — |
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 | $7.0B | — |
| 总债务越低越好 | $22.4B | — |
| 股东权益账面价值 | $64.5B | — |
| 总资产 | $121.9B | $3.9B |
| 负债/权益比越低杠杆越低 | 0.35× | — |
8季度趋势，按日历期对齐
现金及短期投资COPGLP
| Q4 25 | $7.0B | — | ||
| Q3 25 | $6.3B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $7.2B | — | ||
| Q4 24 | $6.1B | — | ||
| Q3 24 | $6.8B | — | ||
| Q2 24 | $6.0B | — | ||
| Q1 24 | $6.1B | — |
总债务COPGLP
| Q4 25 | $22.4B | — | ||
| Q3 25 | $22.5B | — | ||
| Q2 25 | $23.1B | — | ||
| Q1 25 | $23.2B | — | ||
| Q4 24 | $23.3B | — | ||
| Q3 24 | $17.0B | — | ||
| Q2 24 | $17.0B | — | ||
| Q1 24 | $17.3B | — |
股东权益COPGLP
| Q4 25 | $64.5B | — | ||
| Q3 25 | $64.9B | — | ||
| Q2 25 | $65.6B | — | ||
| Q1 25 | $65.2B | — | ||
| Q4 24 | $64.8B | — | ||
| Q3 24 | $49.9B | — | ||
| Q2 24 | $49.7B | — | ||
| Q1 24 | $49.3B | — |
总资产COPGLP
| Q4 25 | $121.9B | $3.9B | ||
| Q3 25 | $122.5B | $3.7B | ||
| Q2 25 | $122.6B | $3.8B | ||
| Q1 25 | $124.3B | $3.8B | ||
| Q4 24 | $122.8B | $3.8B | ||
| Q3 24 | $96.7B | $3.7B | ||
| Q2 24 | $96.0B | $3.8B | ||
| Q1 24 | $95.3B | $3.5B |
负债/权益比COPGLP
| Q4 25 | 0.35× | — | ||
| Q3 25 | 0.35× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.36× | — | ||
| Q4 24 | 0.36× | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.34× | — | ||
| Q1 24 | 0.35× | — |
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 | $4.3B | $101.0M |
| 自由现金流经营现金流 - 资本支出 | — | $62.2M |
| 自由现金流率自由现金流/营收 | — | 2.8% |
| 资本支出强度资本支出/营收 | — | 1.8% |
| 现金转化率经营现金流/净利润 | 2.99× | 4.03× |
| 过去12个月自由现金流最近4个季度 | — | $193.3M |
8季度趋势，按日历期对齐
经营现金流COPGLP
| Q4 25 | $4.3B | $101.0M | ||
| Q3 25 | $5.9B | $19.0M | ||
| Q2 25 | $3.5B | $216.3M | ||
| Q1 25 | $6.1B | $-51.6M | ||
| Q4 24 | $4.5B | $67.2M | ||
| Q3 24 | $5.8B | $122.7M | ||
| Q2 24 | $4.9B | $24.3M | ||
| Q1 24 | $5.0B | $-182.7M |
自由现金流COPGLP
| Q4 25 | — | $62.2M | ||
| Q3 25 | — | $-678.0K | ||
| Q2 25 | — | $201.3M | ||
| Q1 25 | — | $-69.5M | ||
| Q4 24 | — | $20.4M | ||
| Q3 24 | — | $98.4M | ||
| Q2 24 | — | $8.7M | ||
| Q1 24 | — | $-199.3M |
自由现金流率COPGLP
| Q4 25 | — | 2.8% | ||
| Q3 25 | — | -0.0% | ||
| Q2 25 | — | 9.7% | ||
| Q1 25 | — | -3.2% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 4.6% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | -9.0% |
资本支出强度COPGLP
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 0.8% |
现金转化率COPGLP
| Q4 25 | 2.99× | 4.03× | ||
| Q3 25 | 3.41× | 0.66× | ||
| Q2 25 | 1.77× | 8.58× | ||
| Q1 25 | 2.15× | -2.76× | ||
| Q4 24 | 1.93× | 2.82× | ||
| Q3 24 | 2.80× | 2.67× | ||
| Q2 24 | 2.11× | 0.53× | ||
| Q1 24 | 1.95× | — |
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
COP
| Natural Gas Reserves | $2.1B | 18% |
| Physical Gas Contracts | $2.0B | 18% |
| Europe Middle East And North Africa Segment | $1.6B | 14% |
| Natural Gas Product Line | $1.5B | 13% |
| Canada Operating Segment | $1.3B | 12% |
| Alaska Segment | $1.3B | 11% |
| Natural Gas Liquids Reserves | $826.0M | 7% |
| Asia Pacific Operating Segment | $360.0M | 3% |
| Crude Oil Product Line | $236.0M | 2% |
| Related Party | $12.0M | 0% |
| Corporate Segment | $7.0M | 0% |
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% |
