vs
DT Midstream, Inc.（DTM）与ENTERPRISE PRODUCTS PARTNERS L.P.（EPD）财务数据对比。点击上方公司名可切换其他公司
ENTERPRISE PRODUCTS PARTNERS L.P.的季度营收约是DT Midstream, Inc.的43.5倍（$13.8B vs $317.0M）。DT Midstream, Inc.净利率更高（35.0% vs 11.9%，领先23.1%）。DT Midstream, Inc.同比增速更快（27.3% vs -2.9%）。过去两年DT Midstream, Inc.的营收复合增速更高（14.9% vs -3.3%）
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。
Enterprise Products Partners L.P.是总部位于美国得克萨斯州休斯敦的中游能源企业，主营天然气与原油管道业务，2004年9月收购GulfTerra，2018年位列美国《财富》500强第105位，丹·邓肯2010年去世前为该公司第一大股东。
DTM vs EPD — 直观对比
营收规模更大
EPD
是对方的43.5倍
$317.0M
营收增速更快
DTM
高出30.2%
-2.9%
净利率更高
DTM
高出23.1%
11.9%
两年增速更快
DTM
近两年复合增速
-3.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $317.0M | $13.8B |
| 净利润 | $111.0M | $1.6B |
| 毛利率 | — | 27.0% |
| 营业利润率 | 49.2% | 14.7% |
| 净利率 | 35.0% | 11.9% |
| 营收同比 | 27.3% | -2.9% |
| 净利润同比 | 52.1% | 1.5% |
| 每股收益（稀释后） | $1.07 | — |
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DTMEPD
| Q4 25 | $317.0M | $13.8B | ||
| Q3 25 | $314.0M | $12.0B | ||
| Q2 25 | $309.0M | $11.4B | ||
| Q1 25 | $303.0M | $15.4B | ||
| Q4 24 | $249.0M | $14.2B | ||
| Q3 24 | $248.0M | $13.8B | ||
| Q2 24 | $244.0M | $13.5B | ||
| Q1 24 | $240.0M | $14.8B |
净利润DTMEPD
| Q4 25 | $111.0M | $1.6B | ||
| Q3 25 | $115.0M | $1.3B | ||
| Q2 25 | $107.0M | $1.4B | ||
| Q1 25 | $108.0M | $1.4B | ||
| Q4 24 | $73.0M | $1.6B | ||
| Q3 24 | $88.0M | $1.4B | ||
| Q2 24 | $96.0M | $1.4B | ||
| Q1 24 | $97.0M | $1.5B |
毛利率DTMEPD
| Q4 25 | — | 27.0% | ||
| Q3 25 | — | 28.6% | ||
| Q2 25 | — | 30.5% | ||
| Q1 25 | — | 22.1% | ||
| Q4 24 | — | 25.3% | ||
| Q3 24 | — | 24.6% | ||
| Q2 24 | — | 24.5% | ||
| Q1 24 | — | 22.7% |
营业利润率DTMEPD
| Q4 25 | 49.2% | 14.7% | ||
| Q3 25 | 49.4% | 14.0% | ||
| Q2 25 | 50.2% | 15.8% | ||
| Q1 25 | 48.8% | 11.4% | ||
| Q4 24 | 45.4% | 13.9% | ||
| Q3 24 | 49.2% | 12.9% | ||
| Q2 24 | 53.3% | 13.1% | ||
| Q1 24 | 51.7% | 12.3% |
净利率DTMEPD
| Q4 25 | 35.0% | 11.9% | ||
| Q3 25 | 36.6% | 11.1% | ||
| Q2 25 | 34.6% | 12.6% | ||
| Q1 25 | 35.6% | 9.0% | ||
| Q4 24 | 29.3% | 11.4% | ||
| Q3 24 | 35.5% | 10.3% | ||
| Q2 24 | 39.3% | 10.4% | ||
| Q1 24 | 40.4% | 9.9% |
每股收益（稀释后）DTMEPD
| Q4 25 | $1.07 | — | ||
| Q3 25 | $1.13 | — | ||
| Q2 25 | $1.04 | — | ||
| Q1 25 | $1.06 | — | ||
| Q4 24 | $0.73 | — | ||
| Q3 24 | $0.90 | — | ||
| Q2 24 | $0.98 | — | ||
| Q1 24 | $0.99 | — |
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 | $969.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.7B | — |
| 总资产 | $10.1B | $77.9B |
| 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DTMEPD
| Q4 25 | $54.0M | $969.0M | ||
| Q3 25 | $98.0M | $206.0M | ||
| Q2 25 | $74.0M | $870.0M | ||
| Q1 25 | $83.0M | $220.0M | ||
| Q4 24 | $68.0M | $583.0M | ||
| Q3 24 | $77.0M | $1.4B | ||
| Q2 24 | $73.0M | $138.0M | ||
| Q1 24 | $41.0M | $283.0M |
总债务DTMEPD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.4B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DTMEPD
| Q4 25 | $4.7B | — | ||
| Q3 25 | $4.7B | — | ||
| Q2 25 | $4.7B | — | ||
| Q1 25 | $4.6B | — | ||
| Q4 24 | $4.6B | — | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $4.2B | — | ||
| Q1 24 | $4.2B | — |
总资产DTMEPD
| Q4 25 | $10.1B | $77.9B | ||
| Q3 25 | $10.1B | $77.8B | ||
| Q2 25 | $10.0B | $77.4B | ||
| Q1 25 | $9.9B | $75.4B | ||
| Q4 24 | $9.9B | $77.2B | ||
| Q3 24 | $8.6B | $75.1B | ||
| Q2 24 | $9.0B | $73.6B | ||
| Q1 24 | $9.0B | $71.4B |
负债/权益比DTMEPD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.72× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $2.5B |
| 自由现金流经营现金流 - 资本支出 | $30.0M | — |
| 自由现金流率自由现金流/营收 | 9.5% | — |
| 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× | 1.50× |
| 过去12个月自由现金流最近4个季度 | $441.0M | — |
8季度趋势，按日历期对齐
经营现金流DTMEPD
| Q4 25 | $161.0M | $2.5B | ||
| Q3 25 | $274.0M | $1.7B | ||
| Q2 25 | $185.0M | $2.1B | ||
| Q1 25 | $247.0M | $2.3B | ||
| Q4 24 | $152.0M | $2.4B | ||
| Q3 24 | $205.0M | $2.1B | ||
| Q2 24 | $165.0M | $1.6B | ||
| Q1 24 | $241.0M | $2.1B |
自由现金流DTMEPD
| Q4 25 | $30.0M | — | ||
| Q3 25 | $131.0M | — | ||
| Q2 25 | $104.0M | $762.0M | ||
| Q1 25 | $176.0M | $1.3B | ||
| Q4 24 | $62.0M | $1.3B | ||
| Q3 24 | $124.0M | $898.0M | ||
| Q2 24 | $84.0M | $310.0M | ||
| Q1 24 | $143.0M | $1.1B |
自由现金流率DTMEPD
| Q4 25 | 9.5% | — | ||
| Q3 25 | 41.7% | — | ||
| Q2 25 | 33.7% | 6.7% | ||
| Q1 25 | 58.1% | 8.1% | ||
| Q4 24 | 24.9% | 9.1% | ||
| Q3 24 | 50.0% | 6.5% | ||
| Q2 24 | 34.4% | 2.3% | ||
| Q1 24 | 59.6% | 7.2% |
资本支出强度DTMEPD
| Q4 25 | 41.3% | — | ||
| Q3 25 | 45.5% | — | ||
| Q2 25 | 26.2% | 11.4% | ||
| Q1 25 | 23.4% | 6.9% | ||
| Q4 24 | 36.1% | 7.5% | ||
| Q3 24 | 32.7% | 8.5% | ||
| Q2 24 | 33.2% | 9.4% | ||
| Q1 24 | 40.8% | 7.1% |
现金转化率DTMEPD
| Q4 25 | 1.45× | 1.50× | ||
| Q3 25 | 2.38× | 1.30× | ||
| Q2 25 | 1.73× | 1.44× | ||
| Q1 25 | 2.29× | 1.66× | ||
| Q4 24 | 2.08× | 1.46× | ||
| Q3 24 | 2.33× | 1.46× | ||
| Q2 24 | 1.72× | 1.12× | ||
| Q1 24 | 2.48× | 1.45× |
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% |
EPD
| Sales Of Crude Oil | $5.2B | 37% |
| Sales Of NG Ls And Related Products | $4.3B | 31% |
| Petrochemical And Refined Products Services | $2.3B | 17% |
| Oil And Gas Service | $740.0M | 5% |
| Sales Of Natural Gas | $462.0M | 3% |
| Transportation | $365.0M | 3% |
| Natural Gas Processing And Fractionation | $272.0M | 2% |
| Equity Method Investee | $14.0M | 0% |
