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Digital Realty（DLR）与MPLX LP（MPLX）财务数据对比。点击上方公司名可切换其他公司
MPLX LP的季度营收约是Digital Realty的1.5倍（$2.5B vs $1.6B），MPLX LP净利率更高（49.1% vs 6.0%，领先43.0%），Digital Realty同比增速更快（16.1% vs 1.4%），过去两年Digital Realty的营收复合增速更高（9.8% vs 6.2%）
Digital Realty是一家全球知名的不动产投资信托企业，核心业务涵盖全球各地运营商中立数据中心的持有、运营与投资，可为客户提供数据中心部署、主机托管、网络互联等多元专业服务，能够满足不同企业对算力基础设施、数据存储及网络连接的多样化需求。
MPLX LP旗下子公司MarkWest Energy Partners是美国业主有限合伙企业，主营天然气收集、加工及运输业务。该公司1988年成立于科罗拉多州丹佛市，曾发展为科罗拉多州第13大企业，2015年被马拉松石油旗下的MPLX收购。
DLR vs MPLX — 直观对比
营收规模更大
MPLX
是对方的1.5倍
$1.6B
营收增速更快
DLR
高出14.7%
1.4%
净利率更高
MPLX
高出43.0%
6.0%
两年增速更快
DLR
近两年复合增速
6.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $2.5B |
| 净利润 | $98.6M | $1.2B |
| 毛利率 | — | — |
| 营业利润率 | 6.9% | 60.5% |
| 净利率 | 6.0% | 49.1% |
| 营收同比 | 16.1% | 1.4% |
| 净利润同比 | -10.3% | 8.5% |
| 每股收益（稀释后） | $0.22 | — |
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DLRMPLX
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $2.5B | ||
| Q3 25 | $1.6B | $2.5B | ||
| Q2 25 | $1.5B | $2.4B | ||
| Q1 25 | $1.4B | $2.5B | ||
| Q4 24 | $1.4B | $2.4B | ||
| Q3 24 | $1.4B | $2.3B | ||
| Q2 24 | $1.4B | $2.3B |
净利润DLRMPLX
| Q1 26 | $98.6M | — | ||
| Q4 25 | $98.6M | $1.2B | ||
| Q3 25 | $67.8M | $1.6B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $110.0M | $1.1B | ||
| Q4 24 | $189.6M | $1.1B | ||
| Q3 24 | $51.2M | $1.0B | ||
| Q2 24 | $80.2M | $1.2B |
营业利润率DLRMPLX
| Q1 26 | 6.9% | — | ||
| Q4 25 | 6.9% | 60.5% | ||
| Q3 25 | 8.8% | 73.2% | ||
| Q2 25 | 14.2% | 54.9% | ||
| Q1 25 | 13.9% | 55.5% | ||
| Q4 24 | 10.1% | 55.6% | ||
| Q3 24 | 11.8% | 54.4% | ||
| Q2 24 | 0.7% | 62.9% |
净利率DLRMPLX
| Q1 26 | 6.0% | — | ||
| Q4 25 | 6.0% | 49.1% | ||
| Q3 25 | 4.3% | 63.2% | ||
| Q2 25 | 69.1% | 44.9% | ||
| Q1 25 | 7.8% | 46.2% | ||
| Q4 24 | 13.2% | 45.9% | ||
| Q3 24 | 3.6% | 44.6% | ||
| Q2 24 | 5.9% | 52.6% |
每股收益（稀释后）DLRMPLX
| Q1 26 | $0.22 | — | ||
| Q4 25 | $0.22 | — | ||
| Q3 25 | $0.15 | — | ||
| Q2 25 | $2.94 | — | ||
| Q1 25 | $0.27 | — | ||
| Q4 24 | $0.50 | — | ||
| Q3 24 | $0.09 | — | ||
| Q2 24 | $0.20 | — |
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 | $3.5B | $2.1B |
| 总债务越低越好 | — | $24.2B |
| 股东权益账面价值 | $22.9B | — |
| 总资产 | $49.4B | $43.0B |
| 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DLRMPLX
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | $2.1B | ||
| Q3 25 | $3.3B | $1.8B | ||
| Q2 25 | $3.6B | $1.4B | ||
| Q1 25 | $2.3B | $2.5B | ||
| Q4 24 | $3.9B | $1.5B | ||
| Q3 24 | $2.2B | $2.4B | ||
| Q2 24 | $2.3B | $2.5B |
总债务DLRMPLX
| Q1 26 | — | — | ||
| Q4 25 | — | $24.2B | ||
| Q3 25 | — | $24.1B | ||
| Q2 25 | — | $19.7B | ||
| Q1 25 | — | $19.7B | ||
| Q4 24 | — | $19.3B | ||
| Q3 24 | — | $19.3B | ||
| Q2 24 | — | $19.2B |
股东权益DLRMPLX
| Q1 26 | $22.9B | — | ||
| Q4 25 | $22.9B | — | ||
| Q3 25 | $23.0B | — | ||
| Q2 25 | $22.9B | — | ||
| Q1 25 | $21.3B | — | ||
| Q4 24 | $21.3B | — | ||
| Q3 24 | $21.2B | — | ||
| Q2 24 | $20.5B | — |
总资产DLRMPLX
| Q1 26 | $49.4B | — | ||
| Q4 25 | $49.4B | $43.0B | ||
| Q3 25 | $48.7B | $43.2B | ||
| Q2 25 | $48.7B | $37.8B | ||
| Q1 25 | $45.1B | $39.0B | ||
| Q4 24 | $45.3B | $37.5B | ||
| Q3 24 | $45.3B | $38.5B | ||
| Q2 24 | $43.6B | $38.4B |
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 | — | $1.5B |
| 自由现金流经营现金流 - 资本支出 | — | $782.0M |
| 自由现金流率自由现金流/营收 | — | 31.9% |
| 资本支出强度资本支出/营收 | — | 29.1% |
| 现金转化率经营现金流/净利润 | — | 1.24× |
| 过去12个月自由现金流最近4个季度 | — | $4.1B |
8季度趋势，按日历期对齐
经营现金流DLRMPLX
| Q1 26 | — | — | ||
| Q4 25 | $719.0M | $1.5B | ||
| Q3 25 | $652.9M | $1.4B | ||
| Q2 25 | $641.2M | $1.7B | ||
| Q1 25 | $399.1M | $1.2B | ||
| Q4 24 | $769.5M | $1.7B | ||
| Q3 24 | $566.5M | $1.4B | ||
| Q2 24 | $573.2M | $1.6B |
自由现金流DLRMPLX
| Q1 26 | — | — | ||
| Q4 25 | — | $782.0M | ||
| Q3 25 | — | $905.0M | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $979.0M | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.4B |
自由现金流率DLRMPLX
| Q1 26 | — | — | ||
| Q4 25 | — | 31.9% | ||
| Q3 25 | — | 36.8% | ||
| Q2 25 | — | 60.9% | ||
| Q1 25 | — | 39.8% | ||
| Q4 24 | — | 56.6% | ||
| Q3 24 | — | 48.4% | ||
| Q2 24 | — | 60.0% |
资本支出强度DLRMPLX
| Q1 26 | — | — | ||
| Q4 25 | — | 29.1% | ||
| Q3 25 | — | 21.4% | ||
| Q2 25 | — | 12.8% | ||
| Q1 25 | — | 10.9% | ||
| Q4 24 | — | 12.7% | ||
| Q3 24 | — | 11.9% | ||
| Q2 24 | — | 9.4% |
现金转化率DLRMPLX
| Q1 26 | — | — | ||
| Q4 25 | 7.29× | 1.24× | ||
| Q3 25 | 9.63× | 0.92× | ||
| Q2 25 | 0.62× | 1.64× | ||
| Q1 25 | 3.63× | 1.10× | ||
| Q4 24 | 4.06× | 1.51× | ||
| Q3 24 | 11.07× | 1.35× | ||
| Q2 24 | 7.15× | 1.32× |
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
DLR
暂无分部数据
MPLX
| Services | $746.0M | 30% |
| Other | $675.0M | 28% |
| Products | $492.0M | 20% |
| Nonrelated Party | $186.0M | 8% |
| Related Party | $151.0M | 6% |
| Crude Oil And Products Logistics | $104.0M | 4% |
| Service Other | $56.0M | 2% |
| Natural Gas And NGL Services | $41.0M | 2% |
