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HF Sinclair Corp（DINO）与3M（MMM）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3M的1.1倍（$6.5B vs $6.0B）。3M净利率更高（10.8% vs -0.4%，领先11.3%）。3M同比增速更快（1.3% vs -0.6%）。3M自由现金流更多（$2.0B vs $-123.0M）。过去两年3M的营收复合增速更高（-1.8% 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。
3M是美国知名跨国综合企业，业务覆盖工业、劳动者安全防护、消费品等多个领域，总部位于圣保罗郊区的枫木市。公司现有超6万款产品，涵盖胶粘剂、研磨材料、防火防护产品、个人防护装备、窗膜、车漆保护膜、电子连接绝缘材料、汽车养护产品、光学膜等品类。
DINO vs MMM — 直观对比
营收规模更大
DINO
是对方的1.1倍
$6.0B
营收增速更快
MMM
高出1.9%
-0.6%
净利率更高
MMM
高出11.3%
-0.4%
自由现金流更多
MMM
多$2.1B
$-123.0M
两年增速更快
MMM
近两年复合增速
-4.1%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $6.5B | $6.0B |
| 净利润 | $-28.0M | $653.0M |
| 毛利率 | — | 40.7% |
| 营业利润率 | 0.1% | 23.2% |
| 净利率 | -0.4% | 10.8% |
| 营收同比 | -0.6% | 1.3% |
| 净利润同比 | 86.9% | -41.5% |
| 每股收益（稀释后） | $-0.15 | $1.23 |
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DINOMMM
| Q1 26 | — | $6.0B | ||
| Q4 25 | $6.5B | $6.1B | ||
| Q3 25 | $7.3B | $6.5B | ||
| Q2 25 | $6.8B | $6.3B | ||
| Q1 25 | $6.4B | $6.0B | ||
| Q4 24 | $6.5B | $6.0B | ||
| Q3 24 | $7.2B | $6.3B | ||
| Q2 24 | $7.8B | $6.3B |
净利润DINOMMM
| Q1 26 | — | $653.0M | ||
| Q4 25 | $-28.0M | $577.0M | ||
| Q3 25 | $403.0M | $834.0M | ||
| Q2 25 | $208.0M | $723.0M | ||
| Q1 25 | $-4.0M | $1.1B | ||
| Q4 24 | $-213.5M | $728.0M | ||
| Q3 24 | $-75.9M | $1.4B | ||
| Q2 24 | $151.8M | $1.1B |
毛利率DINOMMM
| Q1 26 | — | 40.7% | ||
| Q4 25 | — | 33.6% | ||
| Q3 25 | — | 41.8% | ||
| Q2 25 | — | 42.5% | ||
| Q1 25 | — | 41.6% | ||
| Q4 24 | — | 51.7% | ||
| Q3 24 | — | 42.1% | ||
| Q2 24 | — | 42.9% |
营业利润率DINOMMM
| Q1 26 | — | 23.2% | ||
| Q4 25 | 0.1% | 13.0% | ||
| Q3 25 | 7.8% | 22.2% | ||
| Q2 25 | 4.1% | 18.0% | ||
| Q1 25 | 1.3% | 20.9% | ||
| Q4 24 | -3.5% | 12.2% | ||
| Q3 24 | -1.7% | 20.9% | ||
| Q2 24 | 2.5% | 20.3% |
净利率DINOMMM
| Q1 26 | — | 10.8% | ||
| Q4 25 | -0.4% | 9.4% | ||
| Q3 25 | 5.6% | 12.8% | ||
| Q2 25 | 3.1% | 11.4% | ||
| Q1 25 | -0.1% | 18.7% | ||
| Q4 24 | -3.3% | 12.1% | ||
| Q3 24 | -1.1% | 21.8% | ||
| Q2 24 | 1.9% | 18.3% |
每股收益（稀释后）DINOMMM
| Q1 26 | — | $1.23 | ||
| Q4 25 | $-0.15 | $1.07 | ||
| Q3 25 | $2.15 | $1.55 | ||
| Q2 25 | $1.10 | $1.34 | ||
| Q1 25 | $-0.02 | $2.04 | ||
| Q4 24 | $-1.05 | $1.33 | ||
| Q3 24 | $-0.40 | $2.48 | ||
| Q2 24 | $0.79 | $2.07 |
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 | $3.7B |
| 总债务越低越好 | $2.8B | $10.9B |
| 股东权益账面价值 | $9.2B | $3.3B |
| 总资产 | $16.5B | $35.4B |
| 负债/权益比越低杠杆越低 | 0.30× | 3.29× |
8季度趋势，按日历期对齐
现金及短期投资DINOMMM
| Q1 26 | — | $3.7B | ||
| Q4 25 | $978.0M | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $874.0M | — | ||
| Q1 25 | $547.0M | — | ||
| Q4 24 | $800.0M | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $866.3M | — |
总债务DINOMMM
| Q1 26 | — | $10.9B | ||
| Q4 25 | $2.8B | $12.6B | ||
| Q3 25 | $2.8B | $12.6B | ||
| Q2 25 | $2.7B | $13.1B | ||
| Q1 25 | $2.7B | $13.5B | ||
| Q4 24 | $2.6B | $13.0B | ||
| Q3 24 | — | $13.2B | ||
| Q2 24 | — | $13.1B |
股东权益DINOMMM
| Q1 26 | — | $3.3B | ||
| Q4 25 | $9.2B | $4.7B | ||
| Q3 25 | $9.4B | $4.6B | ||
| Q2 25 | $9.3B | $4.3B | ||
| Q1 25 | $9.2B | $4.5B | ||
| Q4 24 | $9.3B | $3.8B | ||
| Q3 24 | $9.6B | $4.6B | ||
| Q2 24 | $9.9B | $3.9B |
总资产DINOMMM
| Q1 26 | — | $35.4B | ||
| Q4 25 | $16.5B | $37.7B | ||
| Q3 25 | $17.3B | $37.6B | ||
| Q2 25 | $16.8B | $38.0B | ||
| Q1 25 | $16.5B | $40.0B | ||
| Q4 24 | $16.6B | $39.9B | ||
| Q3 24 | $16.9B | $40.9B | ||
| Q2 24 | $17.4B | $43.4B |
负债/权益比DINOMMM
| Q1 26 | — | 3.29× | ||
| Q4 25 | 0.30× | 2.68× | ||
| Q3 25 | 0.29× | 2.72× | ||
| Q2 25 | 0.29× | 3.06× | ||
| Q1 25 | 0.29× | 3.02× | ||
| Q4 24 | 0.29× | 3.40× | ||
| Q3 24 | — | 2.84× | ||
| Q2 24 | — | 3.34× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-123.0M | $2.0B |
| 自由现金流率自由现金流/营收 | -1.9% | 33.6% |
| 资本支出强度资本支出/营收 | 2.0% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $866.0M | $3.7B |
8季度趋势，按日历期对齐
经营现金流DINOMMM
| Q1 26 | — | — | ||
| Q4 25 | $8.0M | $1.6B | ||
| Q3 25 | $809.0M | $1.8B | ||
| Q2 25 | $587.0M | $-954.0M | ||
| Q1 25 | $-89.0M | $-79.0M | ||
| Q4 24 | $-140.4M | $1.8B | ||
| Q3 24 | $707.6M | $-1.8B | ||
| Q2 24 | $225.9M | $1.0B |
自由现金流DINOMMM
| Q1 26 | — | $2.0B | ||
| Q4 25 | $-123.0M | $1.3B | ||
| Q3 25 | $688.0M | $1.5B | ||
| Q2 25 | $476.0M | $-1.2B | ||
| Q1 25 | $-175.0M | $-315.0M | ||
| Q4 24 | $-313.5M | $1.5B | ||
| Q3 24 | $584.0M | $-2.0B | ||
| Q2 24 | $141.7M | $752.0M |
自由现金流率DINOMMM
| Q1 26 | — | 33.6% | ||
| Q4 25 | -1.9% | 21.8% | ||
| Q3 25 | 9.5% | 23.6% | ||
| Q2 25 | 7.0% | -18.3% | ||
| Q1 25 | -2.7% | -5.3% | ||
| Q4 24 | -4.8% | 25.4% | ||
| Q3 24 | 8.1% | -32.3% | ||
| Q2 24 | 1.8% | 12.0% |
资本支出强度DINOMMM
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 4.0% | ||
| Q3 25 | 1.7% | 3.3% | ||
| Q2 25 | 1.6% | 3.3% | ||
| Q1 25 | 1.4% | 4.0% | ||
| Q4 24 | 2.7% | 4.8% | ||
| Q3 24 | 1.7% | 3.9% | ||
| Q2 24 | 1.1% | 4.3% |
现金转化率DINOMMM
| Q1 26 | — | — | ||
| Q4 25 | — | 2.74× | ||
| Q3 25 | 2.01× | 2.11× | ||
| Q2 25 | 2.82× | -1.32× | ||
| Q1 25 | — | -0.07× | ||
| Q4 24 | — | 2.50× | ||
| Q3 24 | — | -1.30× | ||
| Q2 24 | 1.49× | 0.89× |
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% |
MMM
| Safety and Industrial business segment | $2.9B | 49% |
| Transportation and Electronics business segment | $1.8B | 31% |
| Consumer business segment | $1.1B | 19% |
| Corporate | $121.0M | 2% |
