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CSW INDUSTRIALS, INC.（CSW）与MARTIN MIDSTREAM PARTNERS L.P.（MMLP）财务数据对比。点击上方公司名可切换其他公司
CSW INDUSTRIALS, INC.的季度营收约是MARTIN MIDSTREAM PARTNERS L.P.的1.2倍（$233.0M vs $187.7M），CSW INDUSTRIALS, INC.净利率更高（4.4% vs 1.7%，领先2.7%），CSW INDUSTRIALS, INC.同比增速更快（20.3% vs -2.5%），CSW INDUSTRIALS, INC.自由现金流更多（$22.7M vs $-6.0M），过去两年CSW INDUSTRIALS, INC.的营收复合增速更高（5.1% vs 0.8%）
Martin Midstream Partners L.P.是美国中游能源服务提供商，主营原油、天然气液、精炼石油产品及特种化学品的存储、运输、分销与加工服务，主要服务北美能源及工业领域客户。
CSW vs MMLP — 直观对比
营收规模更大
CSW
是对方的1.2倍
$187.7M
营收增速更快
CSW
高出22.8%
-2.5%
净利率更高
CSW
高出2.7%
1.7%
自由现金流更多
CSW
多$28.7M
$-6.0M
两年增速更快
CSW
近两年复合增速
0.8%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $233.0M | $187.7M |
| 净利润 | $10.3M | $3.2M |
| 毛利率 | 39.7% | — |
| 营业利润率 | 7.4% | 4.1% |
| 净利率 | 4.4% | 1.7% |
| 营收同比 | 20.3% | -2.5% |
| 净利润同比 | -61.9% | -37.1% |
| 每股收益（稀释后） | $0.62 | — |
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CSWMMLP
| Q1 26 | — | $187.7M | ||
| Q4 25 | $233.0M | $174.2M | ||
| Q3 25 | $277.0M | $168.7M | ||
| Q2 25 | $263.6M | $180.7M | ||
| Q1 25 | $230.5M | $192.5M | ||
| Q4 24 | $193.6M | $171.3M | ||
| Q3 24 | $227.9M | $170.9M | ||
| Q2 24 | $226.2M | $184.5M |
净利润CSWMMLP
| Q1 26 | — | $3.2M | ||
| Q4 25 | $10.3M | $-2.9M | ||
| Q3 25 | $40.7M | $-8.4M | ||
| Q2 25 | $40.9M | $-2.4M | ||
| Q1 25 | $35.1M | $-1.0M | ||
| Q4 24 | $26.9M | $-8.9M | ||
| Q3 24 | $36.1M | $-3.3M | ||
| Q2 24 | $38.6M | $3.8M |
毛利率CSWMMLP
| Q1 26 | — | — | ||
| Q4 25 | 39.7% | 57.1% | ||
| Q3 25 | 43.0% | 55.1% | ||
| Q2 25 | 43.8% | 56.5% | ||
| Q1 25 | 44.2% | 53.5% | ||
| Q4 24 | 41.4% | 58.2% | ||
| Q3 24 | 45.6% | 58.5% | ||
| Q2 24 | 47.5% | 58.4% |
营业利润率CSWMMLP
| Q1 26 | — | 4.1% | ||
| Q4 25 | 7.4% | 7.3% | ||
| Q3 25 | 20.5% | 4.1% | ||
| Q2 25 | 20.8% | 8.2% | ||
| Q1 25 | 19.5% | 7.5% | ||
| Q4 24 | 15.3% | 4.0% | ||
| Q3 24 | 22.6% | 7.4% | ||
| Q2 24 | 24.3% | 10.8% |
净利率CSWMMLP
| Q1 26 | — | 1.7% | ||
| Q4 25 | 4.4% | -1.7% | ||
| Q3 25 | 14.7% | -5.0% | ||
| Q2 25 | 15.5% | -1.3% | ||
| Q1 25 | 15.2% | -0.5% | ||
| Q4 24 | 13.9% | -5.2% | ||
| Q3 24 | 15.8% | -1.9% | ||
| Q2 24 | 17.1% | 2.0% |
每股收益（稀释后）CSWMMLP
| Q1 26 | — | — | ||
| Q4 25 | $0.62 | — | ||
| Q3 25 | $2.41 | — | ||
| Q2 25 | $2.43 | — | ||
| Q1 25 | $2.05 | — | ||
| Q4 24 | $1.60 | — | ||
| Q3 24 | $2.26 | — | ||
| Q2 24 | $2.47 | — |
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 | $40.2M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.1B | — |
| 总资产 | $2.3B | $537.1M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CSWMMLP
| Q1 26 | — | — | ||
| Q4 25 | $40.2M | — | ||
| Q3 25 | $31.5M | — | ||
| Q2 25 | $38.0M | — | ||
| Q1 25 | $225.8M | — | ||
| Q4 24 | $213.8M | — | ||
| Q3 24 | $273.2M | — | ||
| Q2 24 | $18.9M | — |
总债务CSWMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | $428.0M | ||
| Q3 25 | — | $441.3M | ||
| Q2 25 | — | $427.8M | ||
| Q1 25 | $800.1M | $451.4M | ||
| Q4 24 | — | $437.6M | ||
| Q3 24 | — | $469.3M | ||
| Q2 24 | — | $439.4M |
股东权益CSWMMLP
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $650.2M | — |
总资产CSWMMLP
| Q1 26 | — | $537.1M | ||
| Q4 25 | $2.3B | $522.4M | ||
| Q3 25 | $1.5B | $510.1M | ||
| Q2 25 | $1.5B | $515.6M | ||
| Q1 25 | $1.4B | $533.4M | ||
| Q4 24 | $1.4B | $538.5M | ||
| Q3 24 | $1.4B | $554.8M | ||
| Q2 24 | $1.1B | $535.1M |
负债/权益比CSWMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | $28.9M | — |
| 自由现金流经营现金流 - 资本支出 | $22.7M | $-6.0M |
| 自由现金流率自由现金流/营收 | 9.8% | -3.2% |
| 资本支出强度资本支出/营收 | 2.6% | 1.6% |
| 现金转化率经营现金流/净利润 | 2.81× | — |
| 过去12个月自由现金流最近4个季度 | $162.0M | $27.2M |
8季度趋势，按日历期对齐
经营现金流CSWMMLP
| Q1 26 | — | — | ||
| Q4 25 | $28.9M | $22.4M | ||
| Q3 25 | $61.8M | $-1.2M | ||
| Q2 25 | $60.6M | $30.9M | ||
| Q1 25 | $27.3M | $-6.0M | ||
| Q4 24 | $11.6M | $42.2M | ||
| Q3 24 | $66.8M | $-15.8M | ||
| Q2 24 | $62.7M | $11.8M |
自由现金流CSWMMLP
| Q1 26 | — | $-6.0M | ||
| Q4 25 | $22.7M | $15.6M | ||
| Q3 25 | $58.7M | $-7.9M | ||
| Q2 25 | $57.7M | $25.6M | ||
| Q1 25 | $22.8M | $-11.9M | ||
| Q4 24 | $8.5M | $34.2M | ||
| Q3 24 | $61.3M | $-25.6M | ||
| Q2 24 | $59.6M | $-696.0K |
自由现金流率CSWMMLP
| Q1 26 | — | -3.2% | ||
| Q4 25 | 9.8% | 8.9% | ||
| Q3 25 | 21.2% | -4.7% | ||
| Q2 25 | 21.9% | 14.2% | ||
| Q1 25 | 9.9% | -6.2% | ||
| Q4 24 | 4.4% | 20.0% | ||
| Q3 24 | 26.9% | -15.0% | ||
| Q2 24 | 26.3% | -0.4% |
资本支出强度CSWMMLP
| Q1 26 | — | 1.6% | ||
| Q4 25 | 2.6% | 3.9% | ||
| Q3 25 | 1.1% | 4.0% | ||
| Q2 25 | 1.1% | 3.0% | ||
| Q1 25 | 2.0% | 3.1% | ||
| Q4 24 | 1.6% | 4.6% | ||
| Q3 24 | 2.4% | 5.8% | ||
| Q2 24 | 1.4% | 6.8% |
现金转化率CSWMMLP
| Q1 26 | — | — | ||
| Q4 25 | 2.81× | — | ||
| Q3 25 | 1.52× | — | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 0.78× | — | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.62× | 3.13× |
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
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
MMLP
| Specialty products | $61.6M | 33% |
| Transportation * | $52.8M | 28% |
| Other | $46.5M | 25% |
| Terminalling and storage * | $22.4M | 12% |
| Sulfur services | $4.4M | 2% |
