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HF Sinclair Corp（DINO）与Delek Logistics Partners, LP（DKL）财务数据对比。点击上方公司名可切换其他公司
HF Sinclair Corp的季度营收约是Delek Logistics Partners, LP的25.3倍（$6.5B vs $255.8M）。Delek Logistics Partners, LP净利率更高（18.5% vs -0.4%，领先18.9%）。Delek Logistics Partners, LP同比增速更快（21.9% vs -0.6%）。Delek Logistics Partners, LP自由现金流更多（$12.6M vs $-123.0M）。过去两年Delek Logistics Partners, LP的营收复合增速更高（0.7% vs -4.1%）
HF Sinclair是总部位于美国得克萨斯州达拉斯的能源企业，主要从事汽油、柴油、航空燃油、可再生柴油、特种润滑油、特种化学品、特种改性沥青等多类能源化工产品的生产与销售。
Delek Logistics Partners, LP是一家总部位于美国的中游能源物流企业，主要提供原油、成品油及可再生燃料的存储、运输与配送服务，客户覆盖美国墨西哥湾沿岸及东南部地区的下游能源运营商、零售燃油网络和工业客户。
DINO vs DKL — 直观对比
营收规模更大
DINO
是对方的25.3倍
$255.8M
营收增速更快
DKL
高出22.4%
-0.6%
净利率更高
DKL
高出18.9%
-0.4%
自由现金流更多
DKL
多$135.6M
$-123.0M
两年增速更快
DKL
近两年复合增速
-4.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.5B | $255.8M |
| 净利润 | $-28.0M | $47.3M |
| 毛利率 | — | 17.2% |
| 营业利润率 | 0.1% | 14.2% |
| 净利率 | -0.4% | 18.5% |
| 营收同比 | -0.6% | 21.9% |
| 净利润同比 | 86.9% | 34.0% |
| 每股收益（稀释后） | $-0.15 | — |
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DINODKL
| Q4 25 | $6.5B | $255.8M | ||
| Q3 25 | $7.3B | $261.3M | ||
| Q2 25 | $6.8B | $246.3M | ||
| Q1 25 | $6.4B | $249.9M | ||
| Q4 24 | $6.5B | $209.9M | ||
| Q3 24 | $7.2B | $214.1M | ||
| Q2 24 | $7.8B | $264.6M | ||
| Q1 24 | $7.0B | $252.1M |
净利润DINODKL
| Q4 25 | $-28.0M | $47.3M | ||
| Q3 25 | $403.0M | $45.6M | ||
| Q2 25 | $208.0M | $44.6M | ||
| Q1 25 | $-4.0M | $39.0M | ||
| Q4 24 | $-213.5M | $35.3M | ||
| Q3 24 | $-75.9M | $33.7M | ||
| Q2 24 | $151.8M | $41.1M | ||
| Q1 24 | $314.7M | $32.6M |
毛利率DINODKL
| Q4 25 | — | 17.2% | ||
| Q3 25 | — | 20.6% | ||
| Q2 25 | — | 25.8% | ||
| Q1 25 | — | 21.5% | ||
| Q4 24 | — | 23.4% | ||
| Q3 24 | — | 22.8% | ||
| Q2 24 | — | 28.1% | ||
| Q1 24 | 15.7% | 28.4% |
营业利润率DINODKL
| Q4 25 | 0.1% | 14.2% | ||
| Q3 25 | 7.8% | 17.4% | ||
| Q2 25 | 4.1% | 21.3% | ||
| Q1 25 | 1.3% | 19.0% | ||
| Q4 24 | -3.5% | 18.1% | ||
| Q3 24 | -1.7% | 14.9% | ||
| Q2 24 | 2.5% | 25.9% | ||
| Q1 24 | 5.8% | 25.6% |
净利率DINODKL
| Q4 25 | -0.4% | 18.5% | ||
| Q3 25 | 5.6% | 17.4% | ||
| Q2 25 | 3.1% | 18.1% | ||
| Q1 25 | -0.1% | 15.6% | ||
| Q4 24 | -3.3% | 16.8% | ||
| Q3 24 | -1.1% | 15.7% | ||
| Q2 24 | 1.9% | 15.5% | ||
| Q1 24 | 4.5% | 13.0% |
每股收益（稀释后）DINODKL
| Q4 25 | $-0.15 | — | ||
| Q3 25 | $2.15 | — | ||
| Q2 25 | $1.10 | — | ||
| Q1 25 | $-0.02 | — | ||
| Q4 24 | $-1.05 | — | ||
| Q3 24 | $-0.40 | — | ||
| Q2 24 | $0.79 | — | ||
| Q1 24 | $1.57 | — |
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 | $978.0M | $10.9M |
| 总债务越低越好 | $2.8B | $2.3B |
| 股东权益账面价值 | $9.2B | — |
| 总资产 | $16.5B | $2.8B |
| 负债/权益比越低杠杆越低 | 0.30× | — |
8季度趋势，按日历期对齐
现金及短期投资DINODKL
| Q4 25 | $978.0M | $10.9M | ||
| Q3 25 | $1.5B | $6.9M | ||
| Q2 25 | $874.0M | $1.4M | ||
| Q1 25 | $547.0M | $2.1M | ||
| Q4 24 | $800.0M | $5.4M | ||
| Q3 24 | $1.2B | $7.3M | ||
| Q2 24 | $866.3M | $5.1M | ||
| Q1 24 | $1.2B | $9.7M |
总债务DINODKL
| Q4 25 | $2.8B | $2.3B | ||
| Q3 25 | $2.8B | $2.3B | ||
| Q2 25 | $2.7B | $2.2B | ||
| Q1 25 | $2.7B | $2.1B | ||
| Q4 24 | $2.6B | $1.9B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.6B |
股东权益DINODKL
| Q4 25 | $9.2B | — | ||
| Q3 25 | $9.4B | — | ||
| Q2 25 | $9.3B | — | ||
| Q1 25 | $9.2B | — | ||
| Q4 24 | $9.3B | — | ||
| Q3 24 | $9.6B | — | ||
| Q2 24 | $9.9B | — | ||
| Q1 24 | $10.2B | — |
总资产DINODKL
| Q4 25 | $16.5B | $2.8B | ||
| Q3 25 | $17.3B | $2.7B | ||
| Q2 25 | $16.8B | $2.8B | ||
| Q1 25 | $16.5B | $2.4B | ||
| Q4 24 | $16.6B | $2.0B | ||
| Q3 24 | $16.9B | $2.0B | ||
| Q2 24 | $17.4B | $1.6B | ||
| Q1 24 | $17.9B | $1.7B |
负债/权益比DINODKL
| Q4 25 | 0.30× | — | ||
| Q3 25 | 0.29× | — | ||
| Q2 25 | 0.29× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.29× | — | ||
| 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 | $8.0M | $43.2M |
| 自由现金流经营现金流 - 资本支出 | $-123.0M | $12.6M |
| 自由现金流率自由现金流/营收 | -1.9% | 4.9% |
| 资本支出强度资本支出/营收 | 2.0% | 12.0% |
| 现金转化率经营现金流/净利润 | — | 0.91× |
| 过去12个月自由现金流最近4个季度 | $866.0M | $-30.6M |
8季度趋势，按日历期对齐
经营现金流DINODKL
| Q4 25 | $8.0M | $43.2M | ||
| Q3 25 | $809.0M | $54.9M | ||
| Q2 25 | $587.0M | $107.4M | ||
| Q1 25 | $-89.0M | $31.6M | ||
| Q4 24 | $-140.4M | $49.9M | ||
| Q3 24 | $707.6M | $24.9M | ||
| Q2 24 | $225.9M | $87.6M | ||
| Q1 24 | $316.9M | $43.9M |
自由现金流DINODKL
| Q4 25 | $-123.0M | $12.6M | ||
| Q3 25 | $688.0M | $-12.3M | ||
| Q2 25 | $476.0M | $-7.1M | ||
| Q1 25 | $-175.0M | $-23.9M | ||
| Q4 24 | $-313.5M | $3.9M | ||
| Q3 24 | $584.0M | $-31.7M | ||
| Q2 24 | $141.7M | $72.5M | ||
| Q1 24 | $227.8M | $32.6M |
自由现金流率DINODKL
| Q4 25 | -1.9% | 4.9% | ||
| Q3 25 | 9.5% | -4.7% | ||
| Q2 25 | 7.0% | -2.9% | ||
| Q1 25 | -2.7% | -9.6% | ||
| Q4 24 | -4.8% | 1.8% | ||
| Q3 24 | 8.1% | -14.8% | ||
| Q2 24 | 1.8% | 27.4% | ||
| Q1 24 | 3.2% | 12.9% |
资本支出强度DINODKL
| Q4 25 | 2.0% | 12.0% | ||
| Q3 25 | 1.7% | 25.7% | ||
| Q2 25 | 1.6% | 46.5% | ||
| Q1 25 | 1.4% | 22.2% | ||
| Q4 24 | 2.7% | 21.9% | ||
| Q3 24 | 1.7% | 26.4% | ||
| Q2 24 | 1.1% | 5.7% | ||
| Q1 24 | 1.3% | 4.5% |
现金转化率DINODKL
| Q4 25 | — | 0.91× | ||
| Q3 25 | 2.01× | 1.21× | ||
| Q2 25 | 2.82× | 2.41× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 1.41× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | 1.49× | 2.13× | ||
| Q1 24 | 1.01× | 1.34× |
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
DINO
| Transportation Fuels | $5.0B | 77% |
| Lubricants And Specialties Segment | $586.0M | 9% |
| Lubricants And Specialty Products | $531.0M | 8% |
| Crude Oil | $213.0M | 3% |
| Renewables Segment | $163.0M | 3% |
| Midstream Segment | $35.0M | 1% |
| Transportation And Logistic Services | $34.0M | 1% |
DKL
| Wholesale Marketing And Terminalling | $101.6M | 40% |
| Product Revenue Third Party | $69.5M | 27% |
| Storage And Transportation | $24.7M | 10% |
| Gravity Water Holdings LLC | $22.5M | 9% |
| Service Revenue Third Party | $18.5M | 7% |
| Other | $12.3M | 5% |
| Service Revenue Affiliate | $6.7M | 3% |
