vs
HF Sinclair Corp（DINO）与林德（LIN）财务数据对比。点击上方公司名可切换其他公司
林德的季度营收约是HF Sinclair Corp的1.4倍（$8.8B vs $6.5B），林德净利率更高（17.5% vs -0.4%，领先17.9%），林德同比增速更快（5.8% vs -0.6%），林德自由现金流更多（$1.6B vs $-123.0M），过去两年林德的营收复合增速更高（4.0% 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。
林德是全球知名跨国化工企业，按市场份额及营收计为全球最大工业气体供应商。公司1879年由德国科学家、工程师卡尔·冯·林德在德国威斯巴登创立，现总部位于英国沃金，在爱尔兰注册，2018年由原林德股份公司与1907年在美国成立的普莱克斯合并组建。
DINO vs LIN — 直观对比
营收规模更大
LIN
是对方的1.4倍
$6.5B
营收增速更快
LIN
高出6.4%
-0.6%
净利率更高
LIN
高出17.9%
-0.4%
自由现金流更多
LIN
多$1.7B
$-123.0M
两年增速更快
LIN
近两年复合增速
-4.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.5B | $8.8B |
| 净利润 | $-28.0M | $1.5B |
| 毛利率 | — | — |
| 营业利润率 | 0.1% | 23.0% |
| 净利率 | -0.4% | 17.5% |
| 营收同比 | -0.6% | 5.8% |
| 净利润同比 | 86.9% | -11.3% |
| 每股收益（稀释后） | $-0.15 | $3.28 |
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DINOLIN
| Q4 25 | $6.5B | $8.8B | ||
| Q3 25 | $7.3B | $8.6B | ||
| Q2 25 | $6.8B | $8.5B | ||
| Q1 25 | $6.4B | $8.1B | ||
| Q4 24 | $6.5B | $8.3B | ||
| Q3 24 | $7.2B | $8.4B | ||
| Q2 24 | $7.8B | $8.3B | ||
| Q1 24 | $7.0B | $8.1B |
净利润DINOLIN
| Q4 25 | $-28.0M | $1.5B | ||
| Q3 25 | $403.0M | $1.9B | ||
| Q2 25 | $208.0M | $1.8B | ||
| Q1 25 | $-4.0M | $1.7B | ||
| Q4 24 | $-213.5M | $1.7B | ||
| Q3 24 | $-75.9M | $1.6B | ||
| Q2 24 | $151.8M | $1.7B | ||
| Q1 24 | $314.7M | $1.6B |
毛利率DINOLIN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 15.7% | — |
营业利润率DINOLIN
| Q4 25 | 0.1% | 23.0% | ||
| Q3 25 | 7.8% | 27.5% | ||
| Q2 25 | 4.1% | 27.7% | ||
| Q1 25 | 1.3% | 26.9% | ||
| Q4 24 | -3.5% | 27.4% | ||
| Q3 24 | -1.7% | 25.0% | ||
| Q2 24 | 2.5% | 26.4% | ||
| Q1 24 | 5.8% | 25.9% |
净利率DINOLIN
| Q4 25 | -0.4% | 17.5% | ||
| Q3 25 | 5.6% | 22.4% | ||
| Q2 25 | 3.1% | 20.8% | ||
| Q1 25 | -0.1% | 20.6% | ||
| Q4 24 | -3.3% | 20.8% | ||
| Q3 24 | -1.1% | 18.5% | ||
| Q2 24 | 1.9% | 20.1% | ||
| Q1 24 | 4.5% | 20.1% |
每股收益（稀释后）DINOLIN
| Q4 25 | $-0.15 | $3.28 | ||
| Q3 25 | $2.15 | $4.09 | ||
| Q2 25 | $1.10 | $3.73 | ||
| Q1 25 | $-0.02 | $3.51 | ||
| Q4 24 | $-1.05 | $3.61 | ||
| Q3 24 | $-0.40 | $3.22 | ||
| Q2 24 | $0.79 | $3.44 | ||
| Q1 24 | $1.57 | $3.35 |
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 | $5.1B |
| 总债务越低越好 | $2.8B | $20.7B |
| 股东权益账面价值 | $9.2B | $38.2B |
| 总资产 | $16.5B | $86.8B |
| 负债/权益比越低杠杆越低 | 0.30× | 0.54× |
8季度趋势，按日历期对齐
现金及短期投资DINOLIN
| Q4 25 | $978.0M | $5.1B | ||
| Q3 25 | $1.5B | $4.5B | ||
| Q2 25 | $874.0M | $4.8B | ||
| Q1 25 | $547.0M | $5.3B | ||
| Q4 24 | $800.0M | $4.8B | ||
| Q3 24 | $1.2B | $5.2B | ||
| Q2 24 | $866.3M | $4.6B | ||
| Q1 24 | $1.2B | $4.8B |
总债务DINOLIN
| Q4 25 | $2.8B | $20.7B | ||
| Q3 25 | $2.8B | $18.6B | ||
| Q2 25 | $2.7B | $19.7B | ||
| Q1 25 | $2.7B | $17.6B | ||
| Q4 24 | $2.6B | $15.3B | ||
| Q3 24 | — | $17.5B | ||
| Q2 24 | — | $16.9B | ||
| Q1 24 | — | $15.2B |
股东权益DINOLIN
| Q4 25 | $9.2B | $38.2B | ||
| Q3 25 | $9.4B | $38.6B | ||
| Q2 25 | $9.3B | $38.5B | ||
| Q1 25 | $9.2B | $38.0B | ||
| Q4 24 | $9.3B | $38.1B | ||
| Q3 24 | $9.6B | $39.2B | ||
| Q2 24 | $9.9B | $38.2B | ||
| Q1 24 | $10.2B | $38.8B |
总资产DINOLIN
| Q4 25 | $16.5B | $86.8B | ||
| Q3 25 | $17.3B | $86.0B | ||
| Q2 25 | $16.8B | $86.1B | ||
| Q1 25 | $16.5B | $82.7B | ||
| Q4 24 | $16.6B | $80.1B | ||
| Q3 24 | $16.9B | $82.5B | ||
| Q2 24 | $17.4B | $80.2B | ||
| Q1 24 | $17.9B | $80.3B |
负债/权益比DINOLIN
| Q4 25 | 0.30× | 0.54× | ||
| Q3 25 | 0.29× | 0.48× | ||
| Q2 25 | 0.29× | 0.51× | ||
| Q1 25 | 0.29× | 0.46× | ||
| Q4 24 | 0.29× | 0.40× | ||
| Q3 24 | — | 0.45× | ||
| Q2 24 | — | 0.44× | ||
| Q1 24 | — | 0.39× |
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 | $3.0B |
| 自由现金流经营现金流 - 资本支出 | $-123.0M | $1.6B |
| 自由现金流率自由现金流/营收 | -1.9% | 17.9% |
| 资本支出强度资本支出/营收 | 2.0% | 16.6% |
| 现金转化率经营现金流/净利润 | — | 1.98× |
| 过去12个月自由现金流最近4个季度 | $866.0M | $5.1B |
8季度趋势，按日历期对齐
经营现金流DINOLIN
| Q4 25 | $8.0M | $3.0B | ||
| Q3 25 | $809.0M | $2.9B | ||
| Q2 25 | $587.0M | $2.2B | ||
| Q1 25 | $-89.0M | $2.2B | ||
| Q4 24 | $-140.4M | $2.8B | ||
| Q3 24 | $707.6M | $2.7B | ||
| Q2 24 | $225.9M | $1.9B | ||
| Q1 24 | $316.9M | $2.0B |
自由现金流DINOLIN
| Q4 25 | $-123.0M | $1.6B | ||
| Q3 25 | $688.0M | $1.7B | ||
| Q2 25 | $476.0M | $954.0M | ||
| Q1 25 | $-175.0M | $891.0M | ||
| Q4 24 | $-313.5M | $1.6B | ||
| Q3 24 | $584.0M | $1.7B | ||
| Q2 24 | $141.7M | $796.0M | ||
| Q1 24 | $227.8M | $906.0M |
自由现金流率DINOLIN
| Q4 25 | -1.9% | 17.9% | ||
| Q3 25 | 9.5% | 19.4% | ||
| Q2 25 | 7.0% | 11.2% | ||
| Q1 25 | -2.7% | 11.0% | ||
| Q4 24 | -4.8% | 18.8% | ||
| Q3 24 | 8.1% | 19.9% | ||
| Q2 24 | 1.8% | 9.6% | ||
| Q1 24 | 3.2% | 11.2% |
资本支出强度DINOLIN
| Q4 25 | 2.0% | 16.6% | ||
| Q3 25 | 1.7% | 14.8% | ||
| Q2 25 | 1.6% | 14.8% | ||
| Q1 25 | 1.4% | 15.7% | ||
| Q4 24 | 2.7% | 15.1% | ||
| Q3 24 | 1.7% | 12.8% | ||
| Q2 24 | 1.1% | 13.7% | ||
| Q1 24 | 1.3% | 12.9% |
现金转化率DINOLIN
| Q4 25 | — | 1.98× | ||
| Q3 25 | 2.01× | 1.53× | ||
| Q2 25 | 2.82× | 1.25× | ||
| Q1 25 | — | 1.29× | ||
| Q4 24 | — | 1.63× | ||
| Q3 24 | — | 1.76× | ||
| Q2 24 | 1.49× | 1.16× | ||
| Q1 24 | 1.01× | 1.20× |
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% |
LIN
| Other | $4.9B | 56% |
| Packaged Gas | $1.6B | 19% |
| Merchant | $1.2B | 14% |
| On Site | $950.0M | 11% |
| Other Distribution Methods | $64.0M | 1% |
