vs
Delek US Holdings, Inc.（DK）与PulteGroup（PHM）财务数据对比。点击上方公司名可切换其他公司
PulteGroup的季度营收约是Delek US Holdings, Inc.的1.4倍（$3.4B vs $2.4B），PulteGroup净利率更高（10.2% vs 3.2%，领先7.0%），Delek US Holdings, Inc.同比增速更快（2.3% vs -12.4%），过去两年Delek US Holdings, Inc.的营收复合增速更高（-11.9% vs -13.9%）
Delek US Holdings, Inc.成立于2001年，总部位于美国田纳西州布伦特伍德，是一家深耕炼油、物流及生物燃料领域的能源企业，业务覆盖能源产业链上下游相关环节，为市场提供稳定的能源相关产品与配套服务。
PulteGroup Inc.是总部位于美国佐治亚州亚特兰大的住宅建造企业，2023年按房屋交付量统计为美国第三大住宅建造商，自成立以来累计已建成超过77.5万套住宅，是美国住宅开发领域的领先企业之一。
DK vs PHM — 直观对比
营收规模更大
PHM
是对方的1.4倍
$2.4B
营收增速更快
DK
高出14.8%
-12.4%
净利率更高
PHM
高出7.0%
3.2%
两年增速更快
DK
近两年复合增速
-13.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $3.4B |
| 净利润 | $78.3M | $347.0M |
| 毛利率 | 9.3% | — |
| 营业利润率 | 6.8% | — |
| 净利率 | 3.2% | 10.2% |
| 营收同比 | 2.3% | -12.4% |
| 净利润同比 | 118.9% | -33.6% |
| 每股收益（稀释后） | $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DKPHM
| Q1 26 | — | $3.4B | ||
| Q4 25 | $2.4B | $4.6B | ||
| Q3 25 | $2.9B | $4.4B | ||
| Q2 25 | $2.8B | $4.4B | ||
| Q1 25 | $2.6B | $3.9B | ||
| Q4 24 | $2.4B | $4.9B | ||
| Q3 24 | $3.0B | $4.5B | ||
| Q2 24 | $3.3B | $4.6B |
净利润DKPHM
| Q1 26 | — | $347.0M | ||
| Q4 25 | $78.3M | $501.6M | ||
| Q3 25 | $178.0M | $585.8M | ||
| Q2 25 | $-106.4M | $608.5M | ||
| Q1 25 | $-172.7M | $522.8M | ||
| Q4 24 | $-413.8M | $913.2M | ||
| Q3 24 | $-76.8M | $697.9M | ||
| Q2 24 | $-37.2M | $809.1M |
毛利率DKPHM
| Q1 26 | — | — | ||
| Q4 25 | 9.3% | — | ||
| Q3 25 | 13.8% | 27.8% | ||
| Q2 25 | 1.9% | 28.6% | ||
| Q1 25 | -2.4% | 28.8% | ||
| Q4 24 | -5.7% | — | ||
| Q3 24 | -0.7% | 30.4% | ||
| Q2 24 | 0.5% | 31.4% |
营业利润率DKPHM
| Q1 26 | — | — | ||
| Q4 25 | 6.8% | — | ||
| Q3 25 | 10.2% | — | ||
| Q2 25 | -1.2% | — | ||
| Q1 25 | -4.8% | — | ||
| Q4 24 | -17.0% | — | ||
| Q3 24 | -4.0% | — | ||
| Q2 24 | 0.1% | — |
净利率DKPHM
| Q1 26 | — | 10.2% | ||
| Q4 25 | 3.2% | 10.9% | ||
| Q3 25 | 6.2% | 13.3% | ||
| Q2 25 | -3.8% | 13.8% | ||
| Q1 25 | -6.5% | 13.4% | ||
| Q4 24 | -17.4% | 18.6% | ||
| Q3 24 | -2.5% | 15.6% | ||
| Q2 24 | -1.1% | 17.6% |
每股收益（稀释后）DKPHM
| Q1 26 | — | — | ||
| Q4 25 | $1.23 | $2.56 | ||
| Q3 25 | $2.93 | $2.96 | ||
| Q2 25 | $-1.76 | $3.03 | ||
| Q1 25 | $-2.78 | $2.57 | ||
| Q4 24 | $-6.48 | $4.41 | ||
| Q3 24 | $-1.20 | $3.35 | ||
| Q2 24 | $-0.58 | $3.83 |
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 | $625.8M | $1.8B |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $547.3M | $13.0B |
| 总资产 | $6.8B | $5.2B |
| 负债/权益比越低杠杆越低 | 5.91× | — |
8季度趋势，按日历期对齐
现金及短期投资DKPHM
| Q1 26 | — | $1.8B | ||
| Q4 25 | $625.8M | $2.0B | ||
| Q3 25 | $630.9M | $1.5B | ||
| Q2 25 | $615.5M | $1.2B | ||
| Q1 25 | $623.8M | $1.2B | ||
| Q4 24 | $735.6M | $1.6B | ||
| Q3 24 | $1.0B | $1.4B | ||
| Q2 24 | $657.9M | $1.4B |
总债务DKPHM
| Q1 26 | — | — | ||
| Q4 25 | $3.2B | $43.9M | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $2.8B | $31.1M | ||
| Q3 24 | $2.8B | — | ||
| Q2 24 | $2.5B | — |
股东权益DKPHM
| Q1 26 | — | $13.0B | ||
| Q4 25 | $547.3M | $13.0B | ||
| Q3 25 | $444.8M | $12.8B | ||
| Q2 25 | $294.9M | $12.6B | ||
| Q1 25 | $429.4M | $12.3B | ||
| Q4 24 | $575.2M | $12.1B | ||
| Q3 24 | $875.4M | $11.6B | ||
| Q2 24 | $982.8M | $11.2B |
总资产DKPHM
| Q1 26 | — | $5.2B | ||
| Q4 25 | $6.8B | $18.0B | ||
| Q3 25 | $7.1B | $17.9B | ||
| Q2 25 | $7.1B | $17.6B | ||
| Q1 25 | $6.9B | $17.3B | ||
| Q4 24 | $6.7B | $17.4B | ||
| Q3 24 | $7.0B | $17.0B | ||
| Q2 24 | $6.9B | $16.5B |
负债/权益比DKPHM
| Q1 26 | — | — | ||
| Q4 25 | 5.91× | 0.00× | ||
| Q3 25 | 7.14× | — | ||
| Q2 25 | 10.51× | — | ||
| Q1 25 | 7.07× | — | ||
| Q4 24 | 4.81× | 0.00× | ||
| Q3 24 | 3.19× | — | ||
| Q2 24 | 2.50× | — |
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 | $502.8M | $159.8M |
| 自由现金流经营现金流 - 资本支出 | $382.8M | — |
| 自由现金流率自由现金流/营收 | 15.8% | — |
| 资本支出强度资本支出/营收 | 4.9% | 0.7% |
| 现金转化率经营现金流/净利润 | 6.42× | 0.46× |
| 过去12个月自由现金流最近4个季度 | $6.3M | — |
8季度趋势，按日历期对齐
经营现金流DKPHM
| Q1 26 | — | $159.8M | ||
| Q4 25 | $502.8M | $771.1M | ||
| Q3 25 | $44.0M | $678.4M | ||
| Q2 25 | $51.4M | $287.5M | ||
| Q1 25 | $-62.4M | $134.2M | ||
| Q4 24 | $-163.5M | $567.6M | ||
| Q3 24 | $-21.6M | $455.9M | ||
| Q2 24 | $-48.4M | $417.5M |
自由现金流DKPHM
| Q1 26 | — | — | ||
| Q4 25 | $382.8M | $739.8M | ||
| Q3 25 | $-64.0M | $651.1M | ||
| Q2 25 | $-114.4M | $253.0M | ||
| Q1 25 | $-198.1M | $104.6M | ||
| Q4 24 | $-354.0M | $543.1M | ||
| Q3 24 | $-140.6M | $417.2M | ||
| Q2 24 | $-128.3M | $386.2M |
自由现金流率DKPHM
| Q1 26 | — | — | ||
| Q4 25 | 15.8% | 16.0% | ||
| Q3 25 | -2.2% | 14.8% | ||
| Q2 25 | -4.1% | 5.7% | ||
| Q1 25 | -7.5% | 2.7% | ||
| Q4 24 | -14.9% | 11.0% | ||
| Q3 24 | -4.6% | 9.3% | ||
| Q2 24 | -3.9% | 8.4% |
资本支出强度DKPHM
| Q1 26 | — | 0.7% | ||
| Q4 25 | 4.9% | 0.7% | ||
| Q3 25 | 3.7% | 0.6% | ||
| Q2 25 | 6.0% | 0.8% | ||
| Q1 25 | 5.1% | 0.8% | ||
| Q4 24 | 8.0% | 0.5% | ||
| Q3 24 | 3.9% | 0.9% | ||
| Q2 24 | 2.4% | 0.7% |
现金转化率DKPHM
| Q1 26 | — | 0.46× | ||
| Q4 25 | 6.42× | 1.54× | ||
| Q3 25 | 0.25× | 1.16× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.62× | ||
| Q3 24 | — | 0.65× | ||
| Q2 24 | — | 0.52× |
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
DK
| Refining | $2.2B | 91% |
| Other | $173.0M | 7% |
| Gravity Water Intermediate Holdings LLC Gravity | $22.5M | 1% |
| Related Party | $20.8M | 1% |
| Logistics | $1.3M | 0% |
PHM
| Home sale revenues | $3.3B | 97% |
| Financial Services | $71.7M | 2% |
| Land sale and other revenues | $29.3M | 1% |
