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Delek US Holdings, Inc.（DK）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是Delek US Holdings, Inc.的1.8倍（$4.4B vs $2.4B），标普全球净利率更高（26.8% vs 3.2%，领先23.6%），标普全球同比增速更快（191.7% vs 2.3%），Delek US Holdings, Inc.自由现金流更多（$382.8M vs $-1.5B），过去两年标普全球的营收复合增速更高（77.3% vs -11.9%）
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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
DK vs VG — 直观对比
营收规模更大
VG
是对方的1.8倍
$2.4B
营收增速更快
VG
高出189.3%
2.3%
净利率更高
VG
高出23.6%
3.2%
自由现金流更多
DK
多$1.9B
$-1.5B
两年增速更快
VG
近两年复合增速
-11.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $4.4B |
| 净利润 | $78.3M | $1.2B |
| 毛利率 | 9.3% | — |
| 营业利润率 | 6.8% | 38.7% |
| 净利率 | 3.2% | 26.8% |
| 营收同比 | 2.3% | 191.7% |
| 净利润同比 | 118.9% | 20.3% |
| 每股收益（稀释后） | $1.23 | $0.41 |
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DKVG
| Q4 25 | $2.4B | $4.4B | ||
| Q3 25 | $2.9B | $3.3B | ||
| Q2 25 | $2.8B | $3.1B | ||
| Q1 25 | $2.6B | $2.9B | ||
| Q4 24 | $2.4B | $1.5B | ||
| Q3 24 | $3.0B | $926.0M | ||
| Q2 24 | $3.3B | $1.1B | ||
| Q1 24 | $3.1B | $1.4B |
净利润DKVG
| Q4 25 | $78.3M | $1.2B | ||
| Q3 25 | $178.0M | $550.0M | ||
| Q2 25 | $-106.4M | $475.0M | ||
| Q1 25 | $-172.7M | $517.0M | ||
| Q4 24 | $-413.8M | $990.0M | ||
| Q3 24 | $-76.8M | $-294.0M | ||
| Q2 24 | $-37.2M | $352.0M | ||
| Q1 24 | $-32.6M | $698.0M |
毛利率DKVG
| Q4 25 | 9.3% | — | ||
| Q3 25 | 13.8% | — | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | -2.4% | — | ||
| Q4 24 | -5.7% | — | ||
| Q3 24 | -0.7% | — | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 3.0% | — |
营业利润率DKVG
| Q4 25 | 6.8% | 38.7% | ||
| Q3 25 | 10.2% | 39.7% | ||
| Q2 25 | -1.2% | 33.5% | ||
| Q1 25 | -4.8% | 37.3% | ||
| Q4 24 | -17.0% | 39.0% | ||
| Q3 24 | -4.0% | 20.4% | ||
| Q2 24 | 0.1% | 32.8% | ||
| Q1 24 | 0.9% | 43.6% |
净利率DKVG
| Q4 25 | 3.2% | 26.8% | ||
| Q3 25 | 6.2% | 16.5% | ||
| Q2 25 | -3.8% | 15.3% | ||
| Q1 25 | -6.5% | 17.9% | ||
| Q4 24 | -17.4% | 65.0% | ||
| Q3 24 | -2.5% | -31.7% | ||
| Q2 24 | -1.1% | 31.8% | ||
| Q1 24 | -1.0% | 49.4% |
每股收益（稀释后）DKVG
| Q4 25 | $1.23 | $0.41 | ||
| Q3 25 | $2.93 | $0.16 | ||
| Q2 25 | $-1.76 | $0.14 | ||
| Q1 25 | $-2.78 | $0.15 | ||
| Q4 24 | $-6.48 | $0.35 | ||
| Q3 24 | $-1.20 | $-0.15 | ||
| Q2 24 | $-0.58 | $0.12 | ||
| Q1 24 | $-0.51 | $0.25 |
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 | $2.4B |
| 总债务越低越好 | $3.2B | $34.2B |
| 股东权益账面价值 | $547.3M | $6.7B |
| 总资产 | $6.8B | $53.4B |
| 负债/权益比越低杠杆越低 | 5.91× | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资DKVG
| Q4 25 | $625.8M | $2.4B | ||
| Q3 25 | $630.9M | $1.9B | ||
| Q2 25 | $615.5M | $2.2B | ||
| Q1 25 | $623.8M | $3.6B | ||
| Q4 24 | $735.6M | $3.6B | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $657.9M | — | ||
| Q1 24 | $753.4M | — |
总债务DKVG
| Q4 25 | $3.2B | $34.2B | ||
| Q3 25 | $3.2B | $32.6B | ||
| Q2 25 | $3.1B | $30.0B | ||
| Q1 25 | $3.0B | $29.3B | ||
| Q4 24 | $2.8B | $29.3B | ||
| Q3 24 | $2.8B | — | ||
| Q2 24 | $2.5B | — | ||
| Q1 24 | $2.5B | — |
股东权益DKVG
| Q4 25 | $547.3M | $6.7B | ||
| Q3 25 | $444.8M | $5.7B | ||
| Q2 25 | $294.9M | $5.3B | ||
| Q1 25 | $429.4M | $4.9B | ||
| Q4 24 | $575.2M | $2.9B | ||
| Q3 24 | $875.4M | — | ||
| Q2 24 | $982.8M | — | ||
| Q1 24 | $1.0B | — |
总资产DKVG
| Q4 25 | $6.8B | $53.4B | ||
| Q3 25 | $7.1B | $50.1B | ||
| Q2 25 | $7.1B | $46.5B | ||
| Q1 25 | $6.9B | $45.1B | ||
| Q4 24 | $6.7B | $43.5B | ||
| Q3 24 | $7.0B | — | ||
| Q2 24 | $6.9B | — | ||
| Q1 24 | $7.2B | — |
负债/权益比DKVG
| Q4 25 | 5.91× | 5.07× | ||
| Q3 25 | 7.14× | 5.73× | ||
| Q2 25 | 10.51× | 5.69× | ||
| Q1 25 | 7.07× | 6.01× | ||
| Q4 24 | 4.81× | 10.11× | ||
| Q3 24 | 3.19× | — | ||
| Q2 24 | 2.50× | — | ||
| Q1 24 | 2.41× | — |
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 | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $382.8M | $-1.5B |
| 自由现金流率自由现金流/营收 | 15.8% | -34.1% |
| 资本支出强度资本支出/营收 | 4.9% | 81.6% |
| 现金转化率经营现金流/净利润 | 6.42× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $6.3M | $-6.8B |
8季度趋势，按日历期对齐
经营现金流DKVG
| Q4 25 | $502.8M | $2.1B | ||
| Q3 25 | $44.0M | $1.9B | ||
| Q2 25 | $51.4M | $1.5B | ||
| Q1 25 | $-62.4M | $1.1B | ||
| Q4 24 | $-163.5M | — | ||
| Q3 24 | $-21.6M | — | ||
| Q2 24 | $-48.4M | — | ||
| Q1 24 | $166.7M | $638.0M |
自由现金流DKVG
| Q4 25 | $382.8M | $-1.5B | ||
| Q3 25 | $-64.0M | $-1.4B | ||
| Q2 25 | $-114.4M | $-1.5B | ||
| Q1 25 | $-198.1M | $-2.4B | ||
| Q4 24 | $-354.0M | — | ||
| Q3 24 | $-140.6M | — | ||
| Q2 24 | $-128.3M | — | ||
| Q1 24 | $128.4M | $-2.4B |
自由现金流率DKVG
| Q4 25 | 15.8% | -34.1% | ||
| Q3 25 | -2.2% | -42.4% | ||
| Q2 25 | -4.1% | -49.1% | ||
| Q1 25 | -7.5% | -81.3% | ||
| Q4 24 | -14.9% | — | ||
| Q3 24 | -4.6% | — | ||
| Q2 24 | -3.9% | — | ||
| Q1 24 | 4.1% | -167.3% |
资本支出强度DKVG
| Q4 25 | 4.9% | 81.6% | ||
| Q3 25 | 3.7% | 98.9% | ||
| Q2 25 | 6.0% | 96.1% | ||
| Q1 25 | 5.1% | 119.8% | ||
| Q4 24 | 8.0% | — | ||
| Q3 24 | 3.9% | — | ||
| Q2 24 | 2.4% | — | ||
| Q1 24 | 1.2% | 212.4% |
现金转化率DKVG
| Q4 25 | 6.42× | 1.77× | ||
| Q3 25 | 0.25× | 3.42× | ||
| Q2 25 | — | 3.07× | ||
| Q1 25 | — | 2.15× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.91× |
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% |
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
