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Delek Logistics Partners, LP（DKL）与3M（MMM）财务数据对比。点击上方公司名可切换其他公司
3M的季度营收约是Delek Logistics Partners, LP的23.6倍（$6.0B vs $255.8M）。Delek Logistics Partners, LP净利率更高（18.5% vs 10.8%，领先7.7%）。Delek Logistics Partners, LP同比增速更快（21.9% vs 1.3%）。3M自由现金流更多（$2.0B vs $12.6M）。过去两年Delek Logistics Partners, LP的营收复合增速更高（0.7% vs -1.8%）
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。
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。
DKL vs MMM — 直观对比
营收规模更大
MMM
是对方的23.6倍
$255.8M
营收增速更快
DKL
高出20.6%
1.3%
净利率更高
DKL
高出7.7%
10.8%
自由现金流更多
MMM
多$2.0B
$12.6M
两年增速更快
DKL
近两年复合增速
-1.8%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $255.8M | $6.0B |
| 净利润 | $47.3M | $653.0M |
| 毛利率 | 17.2% | 40.7% |
| 营业利润率 | 14.2% | 23.2% |
| 净利率 | 18.5% | 10.8% |
| 营收同比 | 21.9% | 1.3% |
| 净利润同比 | 34.0% | -41.5% |
| 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DKLMMM
| Q1 26 | — | $6.0B | ||
| Q4 25 | $255.8M | $6.1B | ||
| Q3 25 | $261.3M | $6.5B | ||
| Q2 25 | $246.3M | $6.3B | ||
| Q1 25 | $249.9M | $6.0B | ||
| Q4 24 | $209.9M | $6.0B | ||
| Q3 24 | $214.1M | $6.3B | ||
| Q2 24 | $264.6M | $6.3B |
净利润DKLMMM
| Q1 26 | — | $653.0M | ||
| Q4 25 | $47.3M | $577.0M | ||
| Q3 25 | $45.6M | $834.0M | ||
| Q2 25 | $44.6M | $723.0M | ||
| Q1 25 | $39.0M | $1.1B | ||
| Q4 24 | $35.3M | $728.0M | ||
| Q3 24 | $33.7M | $1.4B | ||
| Q2 24 | $41.1M | $1.1B |
毛利率DKLMMM
| Q1 26 | — | 40.7% | ||
| Q4 25 | 17.2% | 33.6% | ||
| Q3 25 | 20.6% | 41.8% | ||
| Q2 25 | 25.8% | 42.5% | ||
| Q1 25 | 21.5% | 41.6% | ||
| Q4 24 | 23.4% | 51.7% | ||
| Q3 24 | 22.8% | 42.1% | ||
| Q2 24 | 28.1% | 42.9% |
营业利润率DKLMMM
| Q1 26 | — | 23.2% | ||
| Q4 25 | 14.2% | 13.0% | ||
| Q3 25 | 17.4% | 22.2% | ||
| Q2 25 | 21.3% | 18.0% | ||
| Q1 25 | 19.0% | 20.9% | ||
| Q4 24 | 18.1% | 12.2% | ||
| Q3 24 | 14.9% | 20.9% | ||
| Q2 24 | 25.9% | 20.3% |
净利率DKLMMM
| Q1 26 | — | 10.8% | ||
| Q4 25 | 18.5% | 9.4% | ||
| Q3 25 | 17.4% | 12.8% | ||
| Q2 25 | 18.1% | 11.4% | ||
| Q1 25 | 15.6% | 18.7% | ||
| Q4 24 | 16.8% | 12.1% | ||
| Q3 24 | 15.7% | 21.8% | ||
| Q2 24 | 15.5% | 18.3% |
每股收益（稀释后）DKLMMM
| Q1 26 | — | $1.23 | ||
| Q4 25 | — | $1.07 | ||
| Q3 25 | — | $1.55 | ||
| Q2 25 | — | $1.34 | ||
| Q1 25 | — | $2.04 | ||
| Q4 24 | — | $1.33 | ||
| Q3 24 | — | $2.48 | ||
| Q2 24 | — | $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 | $10.9M | $3.7B |
| 总债务越低越好 | $2.3B | $10.9B |
| 股东权益账面价值 | — | $3.3B |
| 总资产 | $2.8B | $35.4B |
| 负债/权益比越低杠杆越低 | — | 3.29× |
8季度趋势，按日历期对齐
现金及短期投资DKLMMM
| Q1 26 | — | $3.7B | ||
| Q4 25 | $10.9M | — | ||
| Q3 25 | $6.9M | — | ||
| Q2 25 | $1.4M | — | ||
| Q1 25 | $2.1M | — | ||
| Q4 24 | $5.4M | — | ||
| Q3 24 | $7.3M | — | ||
| Q2 24 | $5.1M | — |
总债务DKLMMM
| Q1 26 | — | $10.9B | ||
| Q4 25 | $2.3B | $12.6B | ||
| Q3 25 | $2.3B | $12.6B | ||
| Q2 25 | $2.2B | $13.1B | ||
| Q1 25 | $2.1B | $13.5B | ||
| Q4 24 | $1.9B | $13.0B | ||
| Q3 24 | $1.9B | $13.2B | ||
| Q2 24 | $1.6B | $13.1B |
股东权益DKLMMM
| Q1 26 | — | $3.3B | ||
| Q4 25 | — | $4.7B | ||
| Q3 25 | — | $4.6B | ||
| Q2 25 | — | $4.3B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | — | $3.8B | ||
| Q3 24 | — | $4.6B | ||
| Q2 24 | — | $3.9B |
总资产DKLMMM
| Q1 26 | — | $35.4B | ||
| Q4 25 | $2.8B | $37.7B | ||
| Q3 25 | $2.7B | $37.6B | ||
| Q2 25 | $2.8B | $38.0B | ||
| Q1 25 | $2.4B | $40.0B | ||
| Q4 24 | $2.0B | $39.9B | ||
| Q3 24 | $2.0B | $40.9B | ||
| Q2 24 | $1.6B | $43.4B |
负债/权益比DKLMMM
| Q1 26 | — | 3.29× | ||
| Q4 25 | — | 2.68× | ||
| Q3 25 | — | 2.72× | ||
| Q2 25 | — | 3.06× | ||
| Q1 25 | — | 3.02× | ||
| Q4 24 | — | 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 | $43.2M | — |
| 自由现金流经营现金流 - 资本支出 | $12.6M | $2.0B |
| 自由现金流率自由现金流/营收 | 4.9% | 33.6% |
| 资本支出强度资本支出/营收 | 12.0% | — |
| 现金转化率经营现金流/净利润 | 0.91× | — |
| 过去12个月自由现金流最近4个季度 | $-30.6M | $3.7B |
8季度趋势，按日历期对齐
经营现金流DKLMMM
| Q1 26 | — | — | ||
| Q4 25 | $43.2M | $1.6B | ||
| Q3 25 | $54.9M | $1.8B | ||
| Q2 25 | $107.4M | $-954.0M | ||
| Q1 25 | $31.6M | $-79.0M | ||
| Q4 24 | $49.9M | $1.8B | ||
| Q3 24 | $24.9M | $-1.8B | ||
| Q2 24 | $87.6M | $1.0B |
自由现金流DKLMMM
| Q1 26 | — | $2.0B | ||
| Q4 25 | $12.6M | $1.3B | ||
| Q3 25 | $-12.3M | $1.5B | ||
| Q2 25 | $-7.1M | $-1.2B | ||
| Q1 25 | $-23.9M | $-315.0M | ||
| Q4 24 | $3.9M | $1.5B | ||
| Q3 24 | $-31.7M | $-2.0B | ||
| Q2 24 | $72.5M | $752.0M |
自由现金流率DKLMMM
| Q1 26 | — | 33.6% | ||
| Q4 25 | 4.9% | 21.8% | ||
| Q3 25 | -4.7% | 23.6% | ||
| Q2 25 | -2.9% | -18.3% | ||
| Q1 25 | -9.6% | -5.3% | ||
| Q4 24 | 1.8% | 25.4% | ||
| Q3 24 | -14.8% | -32.3% | ||
| Q2 24 | 27.4% | 12.0% |
资本支出强度DKLMMM
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 4.0% | ||
| Q3 25 | 25.7% | 3.3% | ||
| Q2 25 | 46.5% | 3.3% | ||
| Q1 25 | 22.2% | 4.0% | ||
| Q4 24 | 21.9% | 4.8% | ||
| Q3 24 | 26.4% | 3.9% | ||
| Q2 24 | 5.7% | 4.3% |
现金转化率DKLMMM
| Q1 26 | — | — | ||
| Q4 25 | 0.91× | 2.74× | ||
| Q3 25 | 1.21× | 2.11× | ||
| Q2 25 | 2.41× | -1.32× | ||
| Q1 25 | 0.81× | -0.07× | ||
| Q4 24 | 1.41× | 2.50× | ||
| Q3 24 | 0.74× | -1.30× | ||
| Q2 24 | 2.13× | 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
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% |
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% |
