vs
DORCHESTER MINERALS, L.P.（DMLP）与FIRST UNITED CORP（FUNC）财务数据对比。点击上方公司名可切换其他公司
DORCHESTER MINERALS, L.P.的季度营收约是FIRST UNITED CORP的1.8倍（$41.9M vs $23.2M），DORCHESTER MINERALS, L.P.净利率更高（38.7% vs 24.9%，领先13.8%），FIRST UNITED CORP同比增速更快（11.9% vs 5.4%），过去两年DORCHESTER MINERALS, L.P.的营收复合增速更高（16.2% vs 11.5%）
多切斯特矿业有限合伙是一家总部位于美国的上市有限合伙企业，主要收购、持有及管理油气相关的特许权权益、净利润权益、矿产产权等多元化资产组合，资产覆盖美国多个核心陆上油气产区，为合伙份额持有人提供稳定的现金流回报。
联合啤酒控股有限公司（又称UB集团）是喜力集团旗下的印度子公司，总部位于卡纳塔克邦班加罗尔的UB城。公司核心业务涵盖酒类饮品生产及多领域投资，是印度最大的啤酒生产商，主打以翠鸟为品牌的啤酒产品，同时拥有多款其他酒类品牌。
DMLP vs FUNC — 直观对比
营收规模更大
DMLP
是对方的1.8倍
$23.2M
营收增速更快
FUNC
高出6.5%
5.4%
净利率更高
DMLP
高出13.8%
24.9%
两年增速更快
DMLP
近两年复合增速
11.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $41.9M | $23.2M |
| 净利润 | $16.2M | $5.8M |
| 毛利率 | — | — |
| 营业利润率 | — | 32.9% |
| 净利率 | 38.7% | 24.9% |
| 营收同比 | 5.4% | 11.9% |
| 净利润同比 | 13.7% | -6.6% |
| 每股收益（稀释后） | — | $0.89 |
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DMLPFUNC
| Q4 25 | $41.9M | $23.2M | ||
| Q3 25 | $35.4M | $22.7M | ||
| Q2 25 | $32.4M | $21.8M | ||
| Q1 25 | $43.2M | $20.9M | ||
| Q4 24 | $39.7M | $20.8M | ||
| Q3 24 | $53.5M | $20.3M | ||
| Q2 24 | $37.4M | $20.1M | ||
| Q1 24 | $31.0M | $18.7M |
净利润DMLPFUNC
| Q4 25 | $16.2M | $5.8M | ||
| Q3 25 | $11.2M | $6.9M | ||
| Q2 25 | $12.3M | $6.0M | ||
| Q1 25 | $17.6M | $5.8M | ||
| Q4 24 | $14.2M | $6.2M | ||
| Q3 24 | $36.4M | $5.8M | ||
| Q2 24 | $23.6M | $4.9M | ||
| Q1 24 | $18.2M | $3.7M |
营业利润率DMLPFUNC
| Q4 25 | — | 32.9% | ||
| Q3 25 | — | 40.6% | ||
| Q2 25 | — | 36.5% | ||
| Q1 25 | — | 36.8% | ||
| Q4 24 | — | 39.2% | ||
| Q3 24 | — | 38.0% | ||
| Q2 24 | — | 32.5% | ||
| Q1 24 | — | 26.0% |
净利率DMLPFUNC
| Q4 25 | 38.7% | 24.9% | ||
| Q3 25 | 31.5% | 30.6% | ||
| Q2 25 | 38.1% | 27.5% | ||
| Q1 25 | 40.9% | 27.7% | ||
| Q4 24 | 35.9% | 29.8% | ||
| Q3 24 | 68.1% | 28.5% | ||
| Q2 24 | 63.2% | 24.5% | ||
| Q1 24 | 58.6% | 19.8% |
每股收益（稀释后）DMLPFUNC
| Q4 25 | — | $0.89 | ||
| Q3 25 | — | $1.07 | ||
| Q2 25 | — | $0.92 | ||
| Q1 25 | — | $0.89 | ||
| Q4 24 | — | $0.95 | ||
| Q3 24 | — | $0.89 | ||
| Q2 24 | — | $0.75 | ||
| Q1 24 | — | $0.56 |
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 | $41.9M | $131.6M |
| 总债务越低越好 | — | $95.9M |
| 股东权益账面价值 | — | $203.6M |
| 总资产 | $309.6M | $2.1B |
| 负债/权益比越低杠杆越低 | — | 0.47× |
8季度趋势，按日历期对齐
现金及短期投资DMLPFUNC
| Q4 25 | $41.9M | $131.6M | ||
| Q3 25 | $41.6M | $95.2M | ||
| Q2 25 | $36.5M | $79.1M | ||
| Q1 25 | $41.5M | $84.4M | ||
| Q4 24 | $42.5M | $78.3M | ||
| Q3 24 | $56.5M | $62.4M | ||
| Q2 24 | $35.2M | $45.1M | ||
| Q1 24 | $37.7M | $86.9M |
总债务DMLPFUNC
| Q4 25 | — | $95.9M | ||
| Q3 25 | — | $95.9M | ||
| Q2 25 | — | $120.9M | ||
| Q1 25 | — | $120.9M | ||
| Q4 24 | — | $120.9M | ||
| Q3 24 | — | $120.9M | ||
| Q2 24 | — | $70.9M | ||
| Q1 24 | — | $70.9M |
股东权益DMLPFUNC
| Q4 25 | — | $203.6M | ||
| Q3 25 | — | $199.1M | ||
| Q2 25 | — | $191.1M | ||
| Q1 25 | — | $183.7M | ||
| Q4 24 | — | $179.3M | ||
| Q3 24 | — | $174.0M | ||
| Q2 24 | — | $164.2M | ||
| Q1 24 | — | $165.5M |
总资产DMLPFUNC
| Q4 25 | $309.6M | $2.1B | ||
| Q3 25 | $330.4M | $2.0B | ||
| Q2 25 | $325.6M | $2.0B | ||
| Q1 25 | $349.0M | $2.0B | ||
| Q4 24 | $366.8M | $2.0B | ||
| Q3 24 | $403.4M | $1.9B | ||
| Q2 24 | $176.0M | $1.9B | ||
| Q1 24 | $184.8M | $1.9B |
负债/权益比DMLPFUNC
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.43× | ||
| Q1 24 | — | 0.43× |
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 | $34.3M | $19.4M |
| 自由现金流经营现金流 - 资本支出 | — | $15.4M |
| 自由现金流率自由现金流/营收 | — | 66.3% |
| 资本支出强度资本支出/营收 | — | 17.1% |
| 现金转化率经营现金流/净利润 | 2.12× | 3.35× |
| 过去12个月自由现金流最近4个季度 | — | $22.7M |
8季度趋势，按日历期对齐
经营现金流DMLPFUNC
| Q4 25 | $34.3M | $19.4M | ||
| Q3 25 | $34.3M | $1.5M | ||
| Q2 25 | $30.5M | $995.0K | ||
| Q1 25 | $33.4M | $7.0M | ||
| Q4 24 | $31.5M | $22.3M | ||
| Q3 24 | $43.7M | $2.3M | ||
| Q2 24 | $29.4M | $7.2M | ||
| Q1 24 | $28.0M | $3.6M |
自由现金流DMLPFUNC
| Q4 25 | — | $15.4M | ||
| Q3 25 | — | $168.0K | ||
| Q2 25 | — | $706.0K | ||
| Q1 25 | — | $6.4M | ||
| Q4 24 | — | $20.4M | ||
| Q3 24 | — | $588.0K | ||
| Q2 24 | — | $7.0M | ||
| Q1 24 | — | $3.5M |
自由现金流率DMLPFUNC
| Q4 25 | — | 66.3% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | — | 30.5% | ||
| Q4 24 | — | 98.1% | ||
| Q3 24 | — | 2.9% | ||
| Q2 24 | — | 35.1% | ||
| Q1 24 | — | 18.9% |
资本支出强度DMLPFUNC
| Q4 25 | — | 17.1% | ||
| Q3 25 | — | 5.9% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | 9.3% | ||
| Q3 24 | — | 8.4% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.3% |
现金转化率DMLPFUNC
| Q4 25 | 2.12× | 3.35× | ||
| Q3 25 | 3.07× | 0.22× | ||
| Q2 25 | 2.47× | 0.17× | ||
| Q1 25 | 1.89× | 1.20× | ||
| Q4 24 | 2.21× | 3.60× | ||
| Q3 24 | 1.20× | 0.40× | ||
| Q2 24 | 1.25× | 1.46× | ||
| Q1 24 | 1.54× | 0.97× |
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
DMLP
| Royalties | $34.0M | 81% |
| Other | $7.8M | 19% |
FUNC
| Trust Department | $9.8M | 42% |
| Other | $5.6M | 24% |
| Debit Card Income | $4.1M | 17% |
| Service Charges | $2.3M | 10% |
| Brokerage Commissions | $1.4M | 6% |
