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DT Midstream, Inc.（DTM）与FirstCash Holdings, Inc.（FCFS）财务数据对比。点击上方公司名可切换其他公司
FirstCash Holdings, Inc.的季度营收约是DT Midstream, Inc.的1.6倍（$501.3M vs $317.0M），DT Midstream, Inc.净利率更高（35.0% vs 20.8%，领先14.2%），DT Midstream, Inc.同比增速更快（27.3% vs 21.2%），过去两年FirstCash Holdings, Inc.的营收复合增速更高（16.9% vs 14.9%）
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。
FirstCash Holdings, Inc.是总部位于美国得克萨斯州沃斯堡的典当企业，在美国及拉丁美洲多地运营线下典当零售门店，为纳斯达克证券交易所公开上市企业，在美洲典当服务领域拥有成熟的业务布局与完善的运营网络。
DTM vs FCFS — 直观对比
营收规模更大
FCFS
是对方的1.6倍
$317.0M
营收增速更快
DTM
高出6.1%
21.2%
净利率更高
DTM
高出14.2%
20.8%
两年增速更快
FCFS
近两年复合增速
14.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $317.0M | $501.3M |
| 净利润 | $111.0M | $104.2M |
| 毛利率 | — | — |
| 营业利润率 | 49.2% | 28.5% |
| 净利率 | 35.0% | 20.8% |
| 营收同比 | 27.3% | 21.2% |
| 净利润同比 | 52.1% | 24.7% |
| 每股收益（稀释后） | $1.07 | $2.35 |
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DTMFCFS
| Q4 25 | $317.0M | $501.3M | ||
| Q3 25 | $314.0M | $411.0M | ||
| Q2 25 | $309.0M | $385.1M | ||
| Q1 25 | $303.0M | $371.1M | ||
| Q4 24 | $249.0M | $413.7M | ||
| Q3 24 | $248.0M | $363.1M | ||
| Q2 24 | $244.0M | $363.5M | ||
| Q1 24 | $240.0M | $366.8M |
净利润DTMFCFS
| Q4 25 | $111.0M | $104.2M | ||
| Q3 25 | $115.0M | $82.8M | ||
| Q2 25 | $107.0M | $59.8M | ||
| Q1 25 | $108.0M | $83.6M | ||
| Q4 24 | $73.0M | $83.5M | ||
| Q3 24 | $88.0M | $64.8M | ||
| Q2 24 | $96.0M | $49.1M | ||
| Q1 24 | $97.0M | $61.4M |
营业利润率DTMFCFS
| Q4 25 | 49.2% | 28.5% | ||
| Q3 25 | 49.4% | 27.4% | ||
| Q2 25 | 50.2% | 21.1% | ||
| Q1 25 | 48.8% | 30.0% | ||
| Q4 24 | 45.4% | 26.5% | ||
| Q3 24 | 49.2% | 23.5% | ||
| Q2 24 | 53.3% | 18.2% | ||
| Q1 24 | 51.7% | 22.3% |
净利率DTMFCFS
| Q4 25 | 35.0% | 20.8% | ||
| Q3 25 | 36.6% | 20.1% | ||
| Q2 25 | 34.6% | 15.5% | ||
| Q1 25 | 35.6% | 22.5% | ||
| Q4 24 | 29.3% | 20.2% | ||
| Q3 24 | 35.5% | 17.9% | ||
| Q2 24 | 39.3% | 13.5% | ||
| Q1 24 | 40.4% | 16.7% |
每股收益（稀释后）DTMFCFS
| Q4 25 | $1.07 | $2.35 | ||
| Q3 25 | $1.13 | $1.86 | ||
| Q2 25 | $1.04 | $1.34 | ||
| Q1 25 | $1.06 | $1.87 | ||
| Q4 24 | $0.73 | $1.86 | ||
| Q3 24 | $0.90 | $1.44 | ||
| Q2 24 | $0.98 | $1.08 | ||
| Q1 24 | $0.99 | $1.35 |
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 | $125.2M |
| 总债务越低越好 | — | $2.2B |
| 股东权益账面价值 | $4.7B | $2.3B |
| 总资产 | $10.1B | $5.3B |
| 负债/权益比越低杠杆越低 | — | 0.98× |
8季度趋势，按日历期对齐
现金及短期投资DTMFCFS
| Q4 25 | $54.0M | $125.2M | ||
| Q3 25 | $98.0M | $130.2M | ||
| Q2 25 | $74.0M | $101.5M | ||
| Q1 25 | $83.0M | $146.0M | ||
| Q4 24 | $68.0M | $175.1M | ||
| Q3 24 | $77.0M | $106.3M | ||
| Q2 24 | $73.0M | $113.7M | ||
| Q1 24 | $41.0M | $135.1M |
总债务DTMFCFS
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | $3.4B | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.5B |
股东权益DTMFCFS
| Q4 25 | $4.7B | $2.3B | ||
| Q3 25 | $4.7B | $2.2B | ||
| Q2 25 | $4.7B | $2.1B | ||
| Q1 25 | $4.6B | $2.1B | ||
| Q4 24 | $4.6B | $2.1B | ||
| Q3 24 | $4.2B | $2.0B | ||
| Q2 24 | $4.2B | $2.0B | ||
| Q1 24 | $4.2B | $2.0B |
总资产DTMFCFS
| Q4 25 | $10.1B | $5.3B | ||
| Q3 25 | $10.1B | $5.2B | ||
| Q2 25 | $10.0B | $4.5B | ||
| Q1 25 | $9.9B | $4.4B | ||
| Q4 24 | $9.9B | $4.5B | ||
| Q3 24 | $8.6B | $4.4B | ||
| Q2 24 | $9.0B | $4.3B | ||
| Q1 24 | $9.0B | $4.2B |
负债/权益比DTMFCFS
| Q4 25 | — | 0.98× | ||
| Q3 25 | — | 1.01× | ||
| Q2 25 | — | 0.79× | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | 0.72× | 0.85× | ||
| Q3 24 | — | 0.87× | ||
| Q2 24 | — | 0.85× | ||
| Q1 24 | — | 0.75× |
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 | $206.6M |
| 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× | 1.98× |
| 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DTMFCFS
| Q4 25 | $161.0M | $206.6M | ||
| Q3 25 | $274.0M | $135.8M | ||
| Q2 25 | $185.0M | $116.9M | ||
| Q1 25 | $247.0M | $126.6M | ||
| Q4 24 | $152.0M | $198.1M | ||
| Q3 24 | $205.0M | $113.1M | ||
| Q2 24 | $165.0M | $106.2M | ||
| Q1 24 | $241.0M | $122.5M |
自由现金流DTMFCFS
| Q4 25 | $30.0M | — | ||
| Q3 25 | $131.0M | — | ||
| Q2 25 | $104.0M | — | ||
| Q1 25 | $176.0M | — | ||
| Q4 24 | $62.0M | — | ||
| Q3 24 | $124.0M | — | ||
| Q2 24 | $84.0M | — | ||
| Q1 24 | $143.0M | — |
自由现金流率DTMFCFS
| Q4 25 | 9.5% | — | ||
| Q3 25 | 41.7% | — | ||
| Q2 25 | 33.7% | — | ||
| Q1 25 | 58.1% | — | ||
| Q4 24 | 24.9% | — | ||
| Q3 24 | 50.0% | — | ||
| Q2 24 | 34.4% | — | ||
| Q1 24 | 59.6% | — |
资本支出强度DTMFCFS
| Q4 25 | 41.3% | — | ||
| Q3 25 | 45.5% | — | ||
| Q2 25 | 26.2% | — | ||
| Q1 25 | 23.4% | — | ||
| Q4 24 | 36.1% | — | ||
| Q3 24 | 32.7% | — | ||
| Q2 24 | 33.2% | — | ||
| Q1 24 | 40.8% | — |
现金转化率DTMFCFS
| Q4 25 | 1.45× | 1.98× | ||
| Q3 25 | 2.38× | 1.64× | ||
| Q2 25 | 1.73× | 1.95× | ||
| Q1 25 | 2.29× | 1.51× | ||
| Q4 24 | 2.08× | 2.37× | ||
| Q3 24 | 2.33× | 1.74× | ||
| Q2 24 | 1.72× | 2.16× | ||
| Q1 24 | 2.48× | 2.00× |
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% |
FCFS
| US Pawn Segment | $292.2M | 58% |
| Retail POS Payment Solutions | $209.8M | 42% |
