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Delek Logistics Partners, LP（DKL）与GENESIS ENERGY LP（GEL）财务数据对比。点击上方公司名可切换其他公司
GENESIS ENERGY LP的季度营收约是Delek Logistics Partners, LP的1.7倍（$440.8M vs $255.8M）。Delek Logistics Partners, LP净利率更高（18.5% vs 4.5%，领先14.0%）。Delek Logistics Partners, LP同比增速更快（21.9% vs 10.5%）。GENESIS ENERGY LP自由现金流更多（$87.0M vs $12.6M）。过去两年Delek Logistics Partners, LP的营收复合增速更高（0.7% vs 0.7%）
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。
Genesis Energy LP是一家总部位于美国的中游能源合伙企业，主营原油、天然气、成品油及特种工业原料的基础设施运营与物流服务，旗下资产涵盖管道、仓储码头、海运设施及铁路物流枢纽，为北美地区的炼油厂、工业客户及能源分销商提供服务。
DKL vs GEL — 直观对比
营收规模更大
GEL
是对方的1.7倍
$255.8M
营收增速更快
DKL
高出11.4%
10.5%
净利率更高
DKL
高出14.0%
4.5%
自由现金流更多
GEL
多$74.4M
$12.6M
两年增速更快
DKL
近两年复合增速
0.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $255.8M | $440.8M |
| 净利润 | $47.3M | $19.9M |
| 毛利率 | 17.2% | — |
| 营业利润率 | 14.2% | 20.4% |
| 净利率 | 18.5% | 4.5% |
| 营收同比 | 21.9% | 10.5% |
| 净利润同比 | 34.0% | 140.2% |
| 每股收益（稀释后） | — | $0.04 |
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DKLGEL
| Q4 25 | $255.8M | $440.8M | ||
| Q3 25 | $261.3M | $414.0M | ||
| Q2 25 | $246.3M | $377.3M | ||
| Q1 25 | $249.9M | $398.3M | ||
| Q4 24 | $209.9M | $398.9M | ||
| Q3 24 | $214.1M | $397.3M | ||
| Q2 24 | $264.6M | $430.2M | ||
| Q1 24 | $252.1M | $434.4M |
净利润DKLGEL
| Q4 25 | $47.3M | $19.9M | ||
| Q3 25 | $45.6M | $9.2M | ||
| Q2 25 | $44.6M | $-406.0K | ||
| Q1 25 | $39.0M | $-469.1M | ||
| Q4 24 | $35.3M | $-49.4M | ||
| Q3 24 | $33.7M | $-17.2M | ||
| Q2 24 | $41.1M | $-8.7M | ||
| Q1 24 | $32.6M | $11.4M |
毛利率DKLGEL
| 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 | 28.4% | — |
营业利润率DKLGEL
| Q4 25 | 14.2% | 20.4% | ||
| Q3 25 | 17.4% | 19.0% | ||
| Q2 25 | 21.3% | 17.9% | ||
| Q1 25 | 19.0% | 5.5% | ||
| Q4 24 | 18.1% | 3.4% | ||
| Q3 24 | 14.9% | 12.2% | ||
| Q2 24 | 25.9% | 11.6% | ||
| Q1 24 | 25.6% | 13.4% |
净利率DKLGEL
| Q4 25 | 18.5% | 4.5% | ||
| Q3 25 | 17.4% | 2.2% | ||
| Q2 25 | 18.1% | -0.1% | ||
| Q1 25 | 15.6% | -117.8% | ||
| Q4 24 | 16.8% | -12.4% | ||
| Q3 24 | 15.7% | -4.3% | ||
| Q2 24 | 15.5% | -2.0% | ||
| Q1 24 | 13.0% | 2.6% |
每股收益（稀释后）DKLGEL
| Q4 25 | — | $0.04 | ||
| Q3 25 | — | $-0.05 | ||
| Q2 25 | — | $-0.12 | ||
| Q1 25 | — | $-4.06 | ||
| Q4 24 | — | $-0.58 | ||
| Q3 24 | — | $-0.32 | ||
| Q2 24 | — | $-0.25 | ||
| Q1 24 | — | $-0.09 |
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 | $10.9M | $6.4M |
| 总债务越低越好 | $2.3B | $3.0B |
| 股东权益账面价值 | — | — |
| 总资产 | $2.8B | $4.9B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DKLGEL
| Q4 25 | $10.9M | $6.4M | ||
| Q3 25 | $6.9M | $4.9M | ||
| Q2 25 | $1.4M | $4.5M | ||
| Q1 25 | $2.1M | $377.4M | ||
| Q4 24 | $5.4M | $7.4M | ||
| Q3 24 | $7.3M | $13.0M | ||
| Q2 24 | $5.1M | $13.7M | ||
| Q1 24 | $9.7M | $7.0M |
总债务DKLGEL
| Q4 25 | $2.3B | $3.0B | ||
| Q3 25 | $2.3B | $3.1B | ||
| Q2 25 | $2.2B | $3.1B | ||
| Q1 25 | $2.1B | $3.4B | ||
| Q4 24 | $1.9B | $3.7B | ||
| Q3 24 | $1.9B | $4.0B | ||
| Q2 24 | $1.6B | $3.9B | ||
| Q1 24 | $1.6B | $3.8B |
总资产DKLGEL
| Q4 25 | $2.8B | $4.9B | ||
| Q3 25 | $2.7B | $4.9B | ||
| Q2 25 | $2.8B | $4.8B | ||
| Q1 25 | $2.4B | $5.2B | ||
| Q4 24 | $2.0B | $7.0B | ||
| Q3 24 | $2.0B | $7.1B | ||
| Q2 24 | $1.6B | $7.0B | ||
| Q1 24 | $1.7B | $6.9B |
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 | $43.2M | $110.8M |
| 自由现金流经营现金流 - 资本支出 | $12.6M | $87.0M |
| 自由现金流率自由现金流/营收 | 4.9% | 19.7% |
| 资本支出强度资本支出/营收 | 12.0% | 5.4% |
| 现金转化率经营现金流/净利润 | 0.91× | 5.58× |
| 过去12个月自由现金流最近4个季度 | $-30.6M | $65.9M |
8季度趋势，按日历期对齐
经营现金流DKLGEL
| Q4 25 | $43.2M | $110.8M | ||
| Q3 25 | $54.9M | $70.3M | ||
| Q2 25 | $107.4M | $47.0M | ||
| Q1 25 | $31.6M | $24.8M | ||
| Q4 24 | $49.9M | $74.0M | ||
| Q3 24 | $24.9M | $87.3M | ||
| Q2 24 | $87.6M | $104.7M | ||
| Q1 24 | $43.9M | $125.9M |
自由现金流DKLGEL
| Q4 25 | $12.6M | $87.0M | ||
| Q3 25 | $-12.3M | $43.3M | ||
| Q2 25 | $-7.1M | $-7.6M | ||
| Q1 25 | $-23.9M | $-56.8M | ||
| Q4 24 | $3.9M | $-47.1M | ||
| Q3 24 | $-31.7M | $-32.3M | ||
| Q2 24 | $72.5M | $-67.5M | ||
| Q1 24 | $32.6M | $-48.3M |
自由现金流率DKLGEL
| Q4 25 | 4.9% | 19.7% | ||
| Q3 25 | -4.7% | 10.5% | ||
| Q2 25 | -2.9% | -2.0% | ||
| Q1 25 | -9.6% | -14.3% | ||
| Q4 24 | 1.8% | -11.8% | ||
| Q3 24 | -14.8% | -8.1% | ||
| Q2 24 | 27.4% | -15.7% | ||
| Q1 24 | 12.9% | -11.1% |
资本支出强度DKLGEL
| Q4 25 | 12.0% | 5.4% | ||
| Q3 25 | 25.7% | 6.5% | ||
| Q2 25 | 46.5% | 14.5% | ||
| Q1 25 | 22.2% | 20.5% | ||
| Q4 24 | 21.9% | 30.3% | ||
| Q3 24 | 26.4% | 30.1% | ||
| Q2 24 | 5.7% | 40.0% | ||
| Q1 24 | 4.5% | 40.1% |
现金转化率DKLGEL
| Q4 25 | 0.91× | 5.58× | ||
| Q3 25 | 1.21× | 7.63× | ||
| Q2 25 | 2.41× | — | ||
| Q1 25 | 0.81× | — | ||
| Q4 24 | 1.41× | — | ||
| Q3 24 | 0.74× | — | ||
| Q2 24 | 2.13× | — | ||
| Q1 24 | 1.34× | 11.09× |
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
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% |
GEL
| Onshore Facilities And Transportation Revenue | $204.2M | 46% |
| Offshore Pipeline Transportation Revenue | $154.3M | 35% |
| Marine Transportation Revenue | $82.2M | 19% |
