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CVR ENERGY INC（CVI）与Sunoco LP（SUN）财务数据对比。点击上方公司名可切换其他公司
Sunoco LP的季度营收约是CVR ENERGY INC的4.7倍（$8.6B vs $1.8B）。Sunoco LP净利率更高（1.2% vs -6.1%，领先7.2%）。Sunoco LP同比增速更快（63.2% vs -7.0%）。过去两年Sunoco LP的营收复合增速更高（25.1% vs -1.4%）
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。
Sunoco LP是总部位于美国得克萨斯州达拉斯的业主有限合伙企业，在特拉华州注册成立，历史最早可追溯至1886年。公司最初为垂直一体化能源企业，现已转型为燃油分销商及能源基础设施运营商，此前曾涉足油气勘探开采、炼化、化工生产及燃油零售业务，目前上述业务均已剥离。
CVI vs SUN — 直观对比
营收规模更大
SUN
是对方的4.7倍
$1.8B
营收增速更快
SUN
高出70.2%
-7.0%
净利率更高
SUN
高出7.2%
-6.1%
两年增速更快
SUN
近两年复合增速
-1.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $8.6B |
| 净利润 | $-110.0M | $101.0M |
| 毛利率 | -3.1% | 10.7% |
| 营业利润率 | -5.3% | 2.1% |
| 净利率 | -6.1% | 1.2% |
| 营收同比 | -7.0% | 63.2% |
| 净利润同比 | -492.9% | -28.4% |
| 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CVISUN
| Q4 25 | $1.8B | $8.6B | ||
| Q3 25 | $1.9B | $6.0B | ||
| Q2 25 | $1.8B | $5.4B | ||
| Q1 25 | $1.6B | $5.2B | ||
| Q4 24 | $1.9B | $5.3B | ||
| Q3 24 | $1.8B | $5.8B | ||
| Q2 24 | $2.0B | $6.2B | ||
| Q1 24 | $1.9B | $5.5B |
净利润CVISUN
| Q4 25 | $-110.0M | $101.0M | ||
| Q3 25 | $374.0M | $133.0M | ||
| Q2 25 | $-114.0M | $86.0M | ||
| Q1 25 | $-123.0M | $207.0M | ||
| Q4 24 | $28.0M | $141.0M | ||
| Q3 24 | $-124.0M | $2.0M | ||
| Q2 24 | $21.0M | $493.0M | ||
| Q1 24 | $82.0M | $230.0M |
毛利率CVISUN
| Q4 25 | -3.1% | 10.7% | ||
| Q3 25 | 28.8% | 10.7% | ||
| Q2 25 | -3.7% | 10.6% | ||
| Q1 25 | -5.5% | 12.6% | ||
| Q4 24 | 3.0% | 11.9% | ||
| Q3 24 | -3.9% | 7.4% | ||
| Q2 24 | 2.9% | 9.2% | ||
| Q1 24 | 8.6% | 8.8% |
营业利润率CVISUN
| Q4 25 | -5.3% | 2.1% | ||
| Q3 25 | 26.3% | 4.2% | ||
| Q2 25 | -5.8% | 3.8% | ||
| Q1 25 | -8.0% | 5.7% | ||
| Q4 24 | 1.1% | 4.5% | ||
| Q3 24 | -6.2% | 1.9% | ||
| Q2 24 | 1.4% | 2.4% | ||
| Q1 24 | 6.6% | 5.4% |
净利率CVISUN
| Q4 25 | -6.1% | 1.2% | ||
| Q3 25 | 19.2% | 2.2% | ||
| Q2 25 | -6.5% | 1.6% | ||
| Q1 25 | -7.5% | 4.0% | ||
| Q4 24 | 1.4% | 2.7% | ||
| Q3 24 | -6.8% | 0.0% | ||
| Q2 24 | 1.1% | 8.0% | ||
| Q1 24 | 4.4% | 4.2% |
每股收益（稀释后）CVISUN
| 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 | $891.0M |
| 总债务越低越好 | $1.8B | $13.4B |
| 股东权益账面价值 | $730.0M | — |
| 总资产 | $3.7B | $28.4B |
| 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CVISUN
| Q4 25 | $511.0M | $891.0M | ||
| Q3 25 | $670.0M | — | ||
| Q2 25 | $596.0M | — | ||
| Q1 25 | $695.0M | — | ||
| Q4 24 | $987.0M | $94.0M | ||
| Q3 24 | $534.0M | — | ||
| Q2 24 | $586.0M | — | ||
| Q1 24 | $644.0M | — |
总债务CVISUN
| Q4 25 | $1.8B | $13.4B | ||
| Q3 25 | $1.8B | $9.5B | ||
| Q2 25 | $1.8B | $7.8B | ||
| Q1 25 | $1.9B | $7.7B | ||
| Q4 24 | $1.9B | $7.5B | ||
| Q3 24 | $1.6B | $7.3B | ||
| Q2 24 | $1.6B | $7.3B | ||
| Q1 24 | $1.6B | $3.8B |
股东权益CVISUN
| 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CVISUN
| Q4 25 | $3.7B | $28.4B | ||
| Q3 25 | $4.0B | $17.8B | ||
| Q2 25 | $4.0B | $14.4B | ||
| Q1 25 | $4.3B | $14.3B | ||
| Q4 24 | $4.3B | $14.4B | ||
| Q3 24 | $3.9B | $14.1B | ||
| Q2 24 | $4.0B | $14.5B | ||
| Q1 24 | $4.1B | $7.4B |
负债/权益比CVISUN
| 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 | $392.0M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 3.0% | — |
| 现金转化率经营现金流/净利润 | — | 3.88× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流CVISUN
| Q4 25 | $0 | $392.0M | ||
| Q3 25 | $163.0M | $401.0M | ||
| Q2 25 | $176.0M | $243.0M | ||
| Q1 25 | $-195.0M | $156.0M | ||
| Q4 24 | $98.0M | $123.0M | ||
| Q3 24 | $48.0M | $210.0M | ||
| Q2 24 | $81.0M | $-70.0M | ||
| Q1 24 | $177.0M | $286.0M |
自由现金流CVISUN
| Q4 25 | — | — | ||
| Q3 25 | $125.0M | $244.0M | ||
| Q2 25 | $135.0M | $83.0M | ||
| Q1 25 | $-246.0M | $55.0M | ||
| Q4 24 | $43.0M | — | ||
| Q3 24 | $14.0M | $109.0M | ||
| Q2 24 | $38.0M | $-140.0M | ||
| Q1 24 | $130.0M | $245.0M |
自由现金流率CVISUN
| Q4 25 | — | — | ||
| Q3 25 | 6.4% | 4.0% | ||
| Q2 25 | 7.7% | 1.5% | ||
| Q1 25 | -14.9% | 1.1% | ||
| Q4 24 | 2.2% | — | ||
| Q3 24 | 0.8% | 1.9% | ||
| Q2 24 | 1.9% | -2.3% | ||
| Q1 24 | 7.0% | 4.5% |
资本支出强度CVISUN
| Q4 25 | 3.0% | — | ||
| Q3 25 | 2.0% | 2.6% | ||
| Q2 25 | 2.3% | 3.0% | ||
| Q1 25 | 3.1% | 2.0% | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 1.9% | 1.8% | ||
| Q2 24 | 2.2% | 1.1% | ||
| Q1 24 | 2.5% | 0.7% |
现金转化率CVISUN
| Q4 25 | — | 3.88× | ||
| Q3 25 | 0.44× | 3.02× | ||
| Q2 25 | — | 2.83× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 3.50× | 0.87× | ||
| Q3 24 | — | 105.00× | ||
| Q2 24 | 3.86× | -0.14× | ||
| Q1 24 | 2.16× | 1.24× |
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% |
SUN
| Fuel Distribution | $8.2B | 95% |
| Service Revenue | $440.0M | 5% |
| Lease Revenue | $40.0M | 0% |
| Lease Income | $12.0M | 0% |
