vs
DT Midstream, Inc.（DTM）与Forestar Group Inc.（FOR）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Forestar Group Inc.的1.2倍（$317.0M vs $273.0M），DT Midstream, Inc.净利率更高（35.0% vs 5.6%，领先29.4%），DT Midstream, Inc.同比增速更快（27.3% vs 9.0%），DT Midstream, Inc.自由现金流更多（$30.0M vs $-157.1M），过去两年DT Midstream, Inc.的营收复合增速更高（14.9% vs -9.6%）
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。
福雷斯特集团是一家住宅地块开发企业，总部位于得克萨斯州阿灵顿，业务覆盖美国21个州的51个市场。截至2020年12月31日的12个月内，该公司交付了11518块住宅地块，目前在纽约证券交易所上市，自2002年起就是美国规模最大的住宅建筑商D.R. Horton的控股子公司。
DTM vs FOR — 直观对比
营收规模更大
DTM
是对方的1.2倍
$273.0M
营收增速更快
DTM
高出18.3%
9.0%
净利率更高
DTM
高出29.4%
5.6%
自由现金流更多
DTM
多$187.1M
$-157.1M
两年增速更快
DTM
近两年复合增速
-9.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $317.0M | $273.0M |
| 净利润 | $111.0M | $15.4M |
| 毛利率 | — | 20.1% |
| 营业利润率 | 49.2% | 7.6% |
| 净利率 | 35.0% | 5.6% |
| 营收同比 | 27.3% | 9.0% |
| 净利润同比 | 52.1% | -6.7% |
| 每股收益（稀释后） | $1.07 | $0.30 |
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DTMFOR
| Q4 25 | $317.0M | $273.0M | ||
| Q3 25 | $314.0M | $670.5M | ||
| Q2 25 | $309.0M | $390.5M | ||
| Q1 25 | $303.0M | $351.0M | ||
| Q4 24 | $249.0M | $250.4M | ||
| Q3 24 | $248.0M | $551.3M | ||
| Q2 24 | $244.0M | $318.4M | ||
| Q1 24 | $240.0M | $333.8M |
净利润DTMFOR
| Q4 25 | $111.0M | $15.4M | ||
| Q3 25 | $115.0M | $86.9M | ||
| Q2 25 | $107.0M | $32.9M | ||
| Q1 25 | $108.0M | $31.6M | ||
| Q4 24 | $73.0M | $16.5M | ||
| Q3 24 | $88.0M | $81.5M | ||
| Q2 24 | $96.0M | $38.7M | ||
| Q1 24 | $97.0M | $45.0M |
毛利率DTMFOR
| Q4 25 | — | 20.1% | ||
| Q3 25 | — | 22.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 22.6% | ||
| Q4 24 | — | 22.0% | ||
| Q3 24 | — | 23.9% | ||
| Q2 24 | — | 22.5% | ||
| Q1 24 | — | 24.9% |
营业利润率DTMFOR
| Q4 25 | 49.2% | 7.6% | ||
| Q3 25 | 49.4% | 16.9% | ||
| Q2 25 | 50.2% | 11.2% | ||
| Q1 25 | 48.8% | 11.6% | ||
| Q4 24 | 45.4% | 8.7% | ||
| Q3 24 | 49.2% | 19.7% | ||
| Q2 24 | 53.3% | 16.2% | ||
| Q1 24 | 51.7% | 17.6% |
净利率DTMFOR
| Q4 25 | 35.0% | 5.6% | ||
| Q3 25 | 36.6% | 13.0% | ||
| Q2 25 | 34.6% | 8.4% | ||
| Q1 25 | 35.6% | 9.0% | ||
| Q4 24 | 29.3% | 6.6% | ||
| Q3 24 | 35.5% | 14.8% | ||
| Q2 24 | 39.3% | 12.2% | ||
| Q1 24 | 40.4% | 13.5% |
每股收益（稀释后）DTMFOR
| Q4 25 | $1.07 | $0.30 | ||
| Q3 25 | $1.13 | $1.70 | ||
| Q2 25 | $1.04 | $0.65 | ||
| Q1 25 | $1.06 | $0.62 | ||
| Q4 24 | $0.73 | $0.32 | ||
| Q3 24 | $0.90 | $1.59 | ||
| Q2 24 | $0.98 | $0.76 | ||
| Q1 24 | $0.99 | $0.89 |
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 | $211.7M |
| 总债务越低越好 | — | $793.2M |
| 股东权益账面价值 | $4.7B | $1.8B |
| 总资产 | $10.1B | $3.2B |
| 负债/权益比越低杠杆越低 | — | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资DTMFOR
| Q4 25 | $54.0M | $211.7M | ||
| Q3 25 | $98.0M | $379.2M | ||
| Q2 25 | $74.0M | $189.2M | ||
| Q1 25 | $83.0M | $174.3M | ||
| Q4 24 | $68.0M | $132.0M | ||
| Q3 24 | $77.0M | $481.2M | ||
| Q2 24 | $73.0M | $359.2M | ||
| Q1 24 | $41.0M | $416.2M |
总债务DTMFOR
| Q4 25 | — | $793.2M | ||
| Q3 25 | — | $802.7M | ||
| Q2 25 | — | $872.8M | ||
| Q1 25 | — | $872.5M | ||
| Q4 24 | $3.4B | $806.8M | ||
| Q3 24 | — | $706.4M | ||
| Q2 24 | — | $706.1M | ||
| Q1 24 | — | $705.7M |
股东权益DTMFOR
| Q4 25 | $4.7B | $1.8B | ||
| Q3 25 | $4.7B | $1.8B | ||
| Q2 25 | $4.7B | $1.7B | ||
| Q1 25 | $4.6B | $1.6B | ||
| Q4 24 | $4.6B | $1.6B | ||
| Q3 24 | $4.2B | $1.6B | ||
| Q2 24 | $4.2B | $1.5B | ||
| Q1 24 | $4.2B | $1.5B |
总资产DTMFOR
| Q4 25 | $10.1B | $3.2B | ||
| Q3 25 | $10.1B | $3.1B | ||
| Q2 25 | $10.0B | $3.1B | ||
| Q1 25 | $9.9B | $3.0B | ||
| Q4 24 | $9.9B | $3.0B | ||
| Q3 24 | $8.6B | $2.8B | ||
| Q2 24 | $9.0B | $2.7B | ||
| Q1 24 | $9.0B | $2.6B |
负债/权益比DTMFOR
| Q4 25 | — | 0.44× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | 0.72× | 0.50× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.48× |
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 | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | $30.0M | $-157.1M |
| 自由现金流率自由现金流/营收 | 9.5% | -57.5% |
| 资本支出强度资本支出/营收 | 41.3% | 0.0% |
| 现金转化率经营现金流/净利润 | 1.45× | -10.19× |
| 过去12个月自由现金流最近4个季度 | $441.0M | $93.0M |
8季度趋势，按日历期对齐
经营现金流DTMFOR
| Q4 25 | $161.0M | $-157.0M | ||
| Q3 25 | $274.0M | $256.3M | ||
| Q2 25 | $185.0M | $15.8M | ||
| Q1 25 | $247.0M | $-19.8M | ||
| Q4 24 | $152.0M | $-450.0M | ||
| Q3 24 | $205.0M | $119.2M | ||
| Q2 24 | $165.0M | $-61.7M | ||
| Q1 24 | $241.0M | $-59.2M |
自由现金流DTMFOR
| Q4 25 | $30.0M | $-157.1M | ||
| Q3 25 | $131.0M | $255.6M | ||
| Q2 25 | $104.0M | $15.0M | ||
| Q1 25 | $176.0M | $-20.5M | ||
| Q4 24 | $62.0M | — | ||
| Q3 24 | $124.0M | $118.4M | ||
| Q2 24 | $84.0M | $-62.3M | ||
| Q1 24 | $143.0M | $-59.8M |
自由现金流率DTMFOR
| Q4 25 | 9.5% | -57.5% | ||
| Q3 25 | 41.7% | 38.1% | ||
| Q2 25 | 33.7% | 3.8% | ||
| Q1 25 | 58.1% | -5.8% | ||
| Q4 24 | 24.9% | — | ||
| Q3 24 | 50.0% | 21.5% | ||
| Q2 24 | 34.4% | -19.6% | ||
| Q1 24 | 59.6% | -17.9% |
资本支出强度DTMFOR
| Q4 25 | 41.3% | 0.0% | ||
| Q3 25 | 45.5% | 0.1% | ||
| Q2 25 | 26.2% | 0.2% | ||
| Q1 25 | 23.4% | 0.2% | ||
| Q4 24 | 36.1% | 0.0% | ||
| Q3 24 | 32.7% | 0.1% | ||
| Q2 24 | 33.2% | 0.2% | ||
| Q1 24 | 40.8% | 0.2% |
现金转化率DTMFOR
| Q4 25 | 1.45× | -10.19× | ||
| Q3 25 | 2.38× | 2.95× | ||
| Q2 25 | 1.73× | 0.48× | ||
| Q1 25 | 2.29× | -0.63× | ||
| Q4 24 | 2.08× | -27.27× | ||
| Q3 24 | 2.33× | 1.46× | ||
| Q2 24 | 1.72× | -1.59× | ||
| Q1 24 | 2.48× | -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
DTM
| Pipeline Segment | $173.0M | 55% |
| Gathering Segment | $144.0M | 45% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
