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DT Midstream, Inc.（DTM）与Enphase Energy（ENPH）财务数据对比。点击上方公司名可切换其他公司
DT Midstream, Inc.的季度营收约是Enphase Energy的1.1倍（$317.0M vs $282.9M），DT Midstream, Inc.净利率更高（35.0% vs -2.6%，领先37.6%），DT Midstream, Inc.同比增速更快（27.3% vs -20.6%），Enphase Energy自由现金流更多（$83.0M vs $30.0M），过去两年DT Midstream, Inc.的营收复合增速更高（14.9% vs -3.4%）
ONEOK是美国油气中游运营商，总部位于俄克拉荷马州塔尔萨，为油气行业提供收集、处理、分馏、运输及存储服务，是财富500强企业及标普500指数成分股。公司1906年成立时名为俄克拉荷马天然气公司，1980年更为现名。
Enphase Energy是总部位于美国加利福尼亚州弗里蒙特的能源科技企业，成立于2006年，是全球首家成功实现光伏微型逆变器商业化的企业，主要面向住宅用户研发生产光伏微型逆变器、储能电池及电动汽车充电桩。
DTM vs ENPH — 直观对比
营收规模更大
DTM
是对方的1.1倍
$282.9M
营收增速更快
DTM
高出47.9%
-20.6%
净利率更高
DTM
高出37.6%
-2.6%
自由现金流更多
ENPH
多$53.0M
$30.0M
两年增速更快
DTM
近两年复合增速
-3.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $317.0M | $282.9M |
| 净利润 | $111.0M | $-7.4M |
| 毛利率 | — | 35.5% |
| 营业利润率 | 49.2% | — |
| 净利率 | 35.0% | -2.6% |
| 营收同比 | 27.3% | -20.6% |
| 净利润同比 | 52.1% | -124.9% |
| 每股收益（稀释后） | $1.07 | $-0.06 |
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DTMENPH
| Q1 26 | — | $282.9M | ||
| Q4 25 | $317.0M | $343.3M | ||
| Q3 25 | $314.0M | $410.4M | ||
| Q2 25 | $309.0M | $363.2M | ||
| Q1 25 | $303.0M | $356.1M | ||
| Q4 24 | $249.0M | $382.7M | ||
| Q3 24 | $248.0M | $380.9M | ||
| Q2 24 | $244.0M | $303.5M |
净利润DTMENPH
| Q1 26 | — | $-7.4M | ||
| Q4 25 | $111.0M | $38.7M | ||
| Q3 25 | $115.0M | $66.6M | ||
| Q2 25 | $107.0M | $37.1M | ||
| Q1 25 | $108.0M | $29.7M | ||
| Q4 24 | $73.0M | $62.2M | ||
| Q3 24 | $88.0M | $45.8M | ||
| Q2 24 | $96.0M | $10.8M |
毛利率DTMENPH
| Q1 26 | — | 35.5% | ||
| Q4 25 | — | 44.3% | ||
| Q3 25 | — | 47.8% | ||
| Q2 25 | — | 46.9% | ||
| Q1 25 | — | 47.2% | ||
| Q4 24 | — | 51.8% | ||
| Q3 24 | — | 46.8% | ||
| Q2 24 | — | 45.2% |
营业利润率DTMENPH
| Q1 26 | — | — | ||
| Q4 25 | 49.2% | 6.5% | ||
| Q3 25 | 49.4% | 16.1% | ||
| Q2 25 | 50.2% | 10.2% | ||
| Q1 25 | 48.8% | 9.0% | ||
| Q4 24 | 45.4% | 14.3% | ||
| Q3 24 | 49.2% | 13.1% | ||
| Q2 24 | 53.3% | 0.6% |
净利率DTMENPH
| Q1 26 | — | -2.6% | ||
| Q4 25 | 35.0% | 11.3% | ||
| Q3 25 | 36.6% | 16.2% | ||
| Q2 25 | 34.6% | 10.2% | ||
| Q1 25 | 35.6% | 8.3% | ||
| Q4 24 | 29.3% | 16.2% | ||
| Q3 24 | 35.5% | 12.0% | ||
| Q2 24 | 39.3% | 3.6% |
每股收益（稀释后）DTMENPH
| Q1 26 | — | $-0.06 | ||
| Q4 25 | $1.07 | $0.29 | ||
| Q3 25 | $1.13 | $0.50 | ||
| Q2 25 | $1.04 | $0.28 | ||
| Q1 25 | $1.06 | $0.22 | ||
| Q4 24 | $0.73 | $0.46 | ||
| Q3 24 | $0.90 | $0.33 | ||
| Q2 24 | $0.98 | $0.08 |
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 | $54.0M | $497.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.7B | $1.1B |
| 总资产 | $10.1B | $2.7B |
| 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DTMENPH
| Q1 26 | — | $497.5M | ||
| Q4 25 | $54.0M | $1.5B | ||
| Q3 25 | $98.0M | $1.5B | ||
| Q2 25 | $74.0M | $1.5B | ||
| Q1 25 | $83.0M | $1.5B | ||
| Q4 24 | $68.0M | $1.6B | ||
| Q3 24 | $77.0M | $1.8B | ||
| Q2 24 | $73.0M | $1.6B |
总债务DTMENPH
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $3.4B | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B |
股东权益DTMENPH
| Q1 26 | — | $1.1B | ||
| Q4 25 | $4.7B | $1.1B | ||
| Q3 25 | $4.7B | $995.0M | ||
| Q2 25 | $4.7B | $880.6M | ||
| Q1 25 | $4.6B | $810.7M | ||
| Q4 24 | $4.6B | $833.0M | ||
| Q3 24 | $4.2B | $931.4M | ||
| Q2 24 | $4.2B | $884.5M |
总资产DTMENPH
| Q1 26 | — | $2.7B | ||
| Q4 25 | $10.1B | $3.5B | ||
| Q3 25 | $10.1B | $3.3B | ||
| Q2 25 | $10.0B | $3.2B | ||
| Q1 25 | $9.9B | $3.1B | ||
| Q4 24 | $9.9B | $3.2B | ||
| Q3 24 | $8.6B | $3.3B | ||
| Q2 24 | $9.0B | $3.2B |
负债/权益比DTMENPH
| Q1 26 | — | — | ||
| Q4 25 | — | 1.11× | ||
| Q3 25 | — | 1.21× | ||
| Q2 25 | — | 1.37× | ||
| Q1 25 | — | 1.48× | ||
| Q4 24 | 0.72× | 1.56× | ||
| Q3 24 | — | 1.40× | ||
| Q2 24 | — | 1.47× |
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 | $161.0M | $102.9M |
| 自由现金流经营现金流 - 资本支出 | $30.0M | $83.0M |
| 自由现金流率自由现金流/营收 | 9.5% | 29.3% |
| 资本支出强度资本支出/营收 | 41.3% | — |
| 现金转化率经营现金流/净利润 | 1.45× | — |
| 过去12个月自由现金流最近4个季度 | $441.0M | $145.1M |
8季度趋势，按日历期对齐
经营现金流DTMENPH
| Q1 26 | — | $102.9M | ||
| Q4 25 | $161.0M | $47.6M | ||
| Q3 25 | $274.0M | $13.9M | ||
| Q2 25 | $185.0M | $26.6M | ||
| Q1 25 | $247.0M | $48.4M | ||
| Q4 24 | $152.0M | $167.3M | ||
| Q3 24 | $205.0M | $170.1M | ||
| Q2 24 | $165.0M | $127.1M |
自由现金流DTMENPH
| Q1 26 | — | $83.0M | ||
| Q4 25 | $30.0M | $37.8M | ||
| Q3 25 | $131.0M | $5.9M | ||
| Q2 25 | $104.0M | $18.4M | ||
| Q1 25 | $176.0M | $33.8M | ||
| Q4 24 | $62.0M | $159.2M | ||
| Q3 24 | $124.0M | $161.6M | ||
| Q2 24 | $84.0M | $117.4M |
自由现金流率DTMENPH
| Q1 26 | — | 29.3% | ||
| Q4 25 | 9.5% | 11.0% | ||
| Q3 25 | 41.7% | 1.4% | ||
| Q2 25 | 33.7% | 5.1% | ||
| Q1 25 | 58.1% | 9.5% | ||
| Q4 24 | 24.9% | 41.6% | ||
| Q3 24 | 50.0% | 42.4% | ||
| Q2 24 | 34.4% | 38.7% |
资本支出强度DTMENPH
| Q1 26 | — | — | ||
| Q4 25 | 41.3% | 2.8% | ||
| Q3 25 | 45.5% | 2.0% | ||
| Q2 25 | 26.2% | 2.3% | ||
| Q1 25 | 23.4% | 4.1% | ||
| Q4 24 | 36.1% | 2.1% | ||
| Q3 24 | 32.7% | 2.2% | ||
| Q2 24 | 33.2% | 3.2% |
现金转化率DTMENPH
| Q1 26 | — | — | ||
| Q4 25 | 1.45× | 1.23× | ||
| Q3 25 | 2.38× | 0.21× | ||
| Q2 25 | 1.73× | 0.72× | ||
| Q1 25 | 2.29× | 1.63× | ||
| Q4 24 | 2.08× | 2.69× | ||
| Q3 24 | 2.33× | 3.72× | ||
| Q2 24 | 1.72× | 11.73× |
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
DTM
| Pipeline Segment | $173.0M | 55% |
| Gathering Segment | $144.0M | 45% |
ENPH
暂无分部数据
