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CVR ENERGY INC（CVI）与NGL Energy Partners LP（NGL）财务数据对比。点击上方公司名可切换其他公司
CVR ENERGY INC的季度营收约是NGL Energy Partners LP的2.0倍（$1.8B vs $909.8M），NGL Energy Partners LP净利率更高（5.2% vs -6.1%，领先11.3%），CVR ENERGY INC同比增速更快（-7.0% vs -41.3%），过去两年CVR ENERGY INC的营收复合增速更高（-1.4% vs -6.4%）
CVR能源是总部位于美国的能源控股企业，主营石油炼制与氮肥制造两大核心业务，生产汽油、柴油、航空燃油及农用化肥等产品，主要面向北美地区的商业、工业及农业客户供货。
NGL Energy Partners LP是一家总部位于美国的中游能源服务企业，主营原油、液化天然气、可再生燃料的运输、存储及物流服务，同时为上游能源生产商提供水资源管理解决方案，业务主要覆盖北美市场。
CVI vs NGL — 直观对比
营收规模更大
CVI
是对方的2.0倍
$909.8M
营收增速更快
CVI
高出34.3%
-41.3%
净利率更高
NGL
高出11.3%
-6.1%
两年增速更快
CVI
近两年复合增速
-6.4%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $909.8M |
| 净利润 | $-110.0M | $47.2M |
| 毛利率 | -3.1% | 29.0% |
| 营业利润率 | -5.3% | 12.1% |
| 净利率 | -6.1% | 5.2% |
| 营收同比 | -7.0% | -41.3% |
| 净利润同比 | -492.9% | 249.3% |
| 每股收益（稀释后） | $-1.09 | — |
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CVINGL
| Q4 25 | $1.8B | $909.8M | ||
| Q3 25 | $1.9B | $674.7M | ||
| Q2 25 | $1.8B | $622.2M | ||
| Q1 25 | $1.6B | $971.1M | ||
| Q4 24 | $1.9B | $982.4M | ||
| Q3 24 | $1.8B | $756.5M | ||
| Q2 24 | $2.0B | $759.2M | ||
| Q1 24 | $1.9B | $1.0B |
净利润CVINGL
| Q4 25 | $-110.0M | $47.2M | ||
| Q3 25 | $374.0M | $29.3M | ||
| Q2 25 | $-114.0M | $68.9M | ||
| Q1 25 | $-123.0M | $13.7M | ||
| Q4 24 | $28.0M | $13.5M | ||
| Q3 24 | $-124.0M | $2.5M | ||
| Q2 24 | $21.0M | $9.7M | ||
| Q1 24 | $82.0M | $-236.8M |
毛利率CVINGL
| Q4 25 | -3.1% | 29.0% | ||
| Q3 25 | 28.8% | 37.6% | ||
| Q2 25 | -3.7% | 38.5% | ||
| Q1 25 | -5.5% | 26.9% | ||
| Q4 24 | 3.0% | 25.1% | ||
| Q3 24 | -3.9% | 30.9% | ||
| Q2 24 | 2.9% | 29.0% | ||
| Q1 24 | 8.6% | 21.8% |
营业利润率CVINGL
| Q4 25 | -5.3% | 12.1% | ||
| Q3 25 | 26.3% | 14.0% | ||
| Q2 25 | -5.8% | 15.7% | ||
| Q1 25 | -8.0% | 8.4% | ||
| Q4 24 | 1.1% | 8.6% | ||
| Q3 24 | -6.2% | 10.8% | ||
| Q2 24 | 1.4% | 10.8% | ||
| Q1 24 | 6.6% | -9.4% |
净利率CVINGL
| Q4 25 | -6.1% | 5.2% | ||
| Q3 25 | 19.2% | 4.3% | ||
| Q2 25 | -6.5% | 11.1% | ||
| Q1 25 | -7.5% | 1.4% | ||
| Q4 24 | 1.4% | 1.4% | ||
| Q3 24 | -6.8% | 0.3% | ||
| Q2 24 | 1.1% | 1.3% | ||
| Q1 24 | 4.4% | -22.8% |
每股收益（稀释后）CVINGL
| Q4 25 | $-1.09 | — | ||
| Q3 25 | $3.72 | — | ||
| Q2 25 | $-1.14 | — | ||
| Q1 25 | $-1.22 | — | ||
| Q4 24 | $0.28 | — | ||
| Q3 24 | $-1.24 | — | ||
| Q2 24 | $0.21 | — | ||
| Q1 24 | $0.81 | — |
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 | $511.0M | $6.5M |
| 总债务越低越好 | $1.8B | $2.9B |
| 股东权益账面价值 | $730.0M | — |
| 总资产 | $3.7B | $4.4B |
| 负债/权益比越低杠杆越低 | 2.40× | — |
8季度趋势，按日历期对齐
现金及短期投资CVINGL
| Q4 25 | $511.0M | $6.5M | ||
| Q3 25 | $670.0M | $8.7M | ||
| Q2 25 | $596.0M | $5.4M | ||
| Q1 25 | $695.0M | $13.5M | ||
| Q4 24 | $987.0M | $5.7M | ||
| Q3 24 | $534.0M | $4.5M | ||
| Q2 24 | $586.0M | $5.3M | ||
| Q1 24 | $644.0M | $38.9M |
总债务CVINGL
| Q4 25 | $1.8B | $2.9B | ||
| Q3 25 | $1.8B | $2.9B | ||
| Q2 25 | $1.8B | $2.9B | ||
| Q1 25 | $1.9B | $3.0B | ||
| Q4 24 | $1.9B | $3.1B | ||
| Q3 24 | $1.6B | $3.1B | ||
| Q2 24 | $1.6B | $3.0B | ||
| Q1 24 | $1.6B | $2.9B |
股东权益CVINGL
| Q4 25 | $730.0M | — | ||
| Q3 25 | $840.0M | — | ||
| Q2 25 | $466.0M | — | ||
| Q1 25 | $580.0M | — | ||
| Q4 24 | $703.0M | — | ||
| Q3 24 | $675.0M | — | ||
| Q2 24 | $849.0M | — | ||
| Q1 24 | $879.0M | — |
总资产CVINGL
| Q4 25 | $3.7B | $4.4B | ||
| Q3 25 | $4.0B | $4.3B | ||
| Q2 25 | $4.0B | $4.2B | ||
| Q1 25 | $4.3B | $4.6B | ||
| Q4 24 | $4.3B | $4.8B | ||
| Q3 24 | $3.9B | $4.9B | ||
| Q2 24 | $4.0B | $4.8B | ||
| Q1 24 | $4.1B | $5.0B |
负债/权益比CVINGL
| Q4 25 | 2.40× | — | ||
| Q3 25 | 2.17× | — | ||
| Q2 25 | 3.97× | — | ||
| Q1 25 | 3.29× | — | ||
| Q4 24 | 2.71× | — | ||
| Q3 24 | 2.33× | — | ||
| Q2 24 | 1.86× | — | ||
| Q1 24 | 1.79× | — |
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 | $0 | $182.3M |
| 自由现金流经营现金流 - 资本支出 | — | $45.7M |
| 自由现金流率自由现金流/营收 | — | 5.0% |
| 资本支出强度资本支出/营收 | 3.0% | 15.0% |
| 现金转化率经营现金流/净利润 | — | 3.86× |
| 过去12个月自由现金流最近4个季度 | — | $126.7M |
8季度趋势，按日历期对齐
经营现金流CVINGL
| Q4 25 | $0 | $182.3M | ||
| Q3 25 | $163.0M | $40.5M | ||
| Q2 25 | $176.0M | $33.2M | ||
| Q1 25 | $-195.0M | $155.0M | ||
| Q4 24 | $98.0M | $153.8M | ||
| Q3 24 | $48.0M | $6.7M | ||
| Q2 24 | $81.0M | $-18.1M | ||
| Q1 24 | $177.0M | $152.2M |
自由现金流CVINGL
| Q4 25 | — | $45.7M | ||
| Q3 25 | $125.0M | $9.5M | ||
| Q2 25 | $135.0M | $11.1M | ||
| Q1 25 | $-246.0M | $60.4M | ||
| Q4 24 | $43.0M | $152.1M | ||
| Q3 24 | $14.0M | $-82.9M | ||
| Q2 24 | $38.0M | $-78.0M | ||
| Q1 24 | $130.0M | $119.8M |
自由现金流率CVINGL
| Q4 25 | — | 5.0% | ||
| Q3 25 | 6.4% | 1.4% | ||
| Q2 25 | 7.7% | 1.8% | ||
| Q1 25 | -14.9% | 6.2% | ||
| Q4 24 | 2.2% | 15.5% | ||
| Q3 24 | 0.8% | -11.0% | ||
| Q2 24 | 1.9% | -10.3% | ||
| Q1 24 | 7.0% | 11.5% |
资本支出强度CVINGL
| Q4 25 | 3.0% | 15.0% | ||
| Q3 25 | 2.0% | 4.6% | ||
| Q2 25 | 2.3% | 3.6% | ||
| Q1 25 | 3.1% | 9.7% | ||
| Q4 24 | 2.8% | 0.2% | ||
| Q3 24 | 1.9% | 11.8% | ||
| Q2 24 | 2.2% | 7.9% | ||
| Q1 24 | 2.5% | 3.1% |
现金转化率CVINGL
| Q4 25 | — | 3.86× | ||
| Q3 25 | 0.44× | 1.38× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | 11.29× | ||
| Q4 24 | 3.50× | 11.39× | ||
| Q3 24 | — | 2.74× | ||
| Q2 24 | 3.86× | -1.87× | ||
| Q1 24 | 2.16× | — |
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
CVI
| Petroleum Segment | $1.6B | 91% |
| Product UAN | $64.0M | 4% |
| Product Ammonia | $51.0M | 3% |
| Renewables Diesel | $27.0M | 1% |
| Product Urea Products | $8.0M | 0% |
| Renewable Fuel Credits | $7.0M | 0% |
NGL
| Water Solutions Segment | $208.6M | 23% |
| Services | $193.3M | 21% |
| Butane | $192.5M | 21% |
| Service Fees | $182.8M | 20% |
| Public Utilities Inventory Propane | $93.9M | 10% |
| Crude Oil | $23.3M | 3% |
| Crude Oil Transportation And Other | $6.5M | 1% |
| Liquids Logistics Segment | $2.5M | 0% |
| Crude Oil Logistics Segment | $1.2M | 0% |
