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DT Midstream, Inc.（DTM）与Kodiak Gas Services, Inc.（KGS）财务数据对比。点击上方公司名可切换其他公司
Kodiak Gas Services, Inc.的季度营收约是DT Midstream, Inc.的1.1倍（$332.9M vs $317.0M）。DT Midstream, Inc.净利率更高（35.0% vs 7.4%，领先27.6%）。DT Midstream, Inc.同比增速更快（27.3% vs 7.5%）。Kodiak Gas Services, Inc.自由现金流更多（$142.0M vs $30.0M）。过去两年Kodiak Gas Services, Inc.的营收复合增速更高（24.3% 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。
Kodiak Gas Services是北美知名的天然气压缩服务供应商，主要服务油气行业上下游客户，提供定制化压缩设备、运维及运营支持，帮助客户优化陆上天然气收集、处理与运输全流程的运营效率。
DTM vs KGS — 直观对比
营收规模更大
KGS
是对方的1.1倍
$317.0M
营收增速更快
DTM
高出19.8%
7.5%
净利率更高
DTM
高出27.6%
7.4%
自由现金流更多
KGS
多$112.0M
$30.0M
两年增速更快
KGS
近两年复合增速
14.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $317.0M | $332.9M |
| 净利润 | $111.0M | $24.6M |
| 毛利率 | — | — |
| 营业利润率 | 49.2% | 26.1% |
| 净利率 | 35.0% | 7.4% |
| 营收同比 | 27.3% | 7.5% |
| 净利润同比 | 52.1% | 29.0% |
| 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DTMKGS
| Q4 25 | $317.0M | $332.9M | ||
| Q3 25 | $314.0M | $322.7M | ||
| Q2 25 | $309.0M | $322.8M | ||
| Q1 25 | $303.0M | $329.6M | ||
| Q4 24 | $249.0M | $309.5M | ||
| Q3 24 | $248.0M | $324.6M | ||
| Q2 24 | $244.0M | $309.7M | ||
| Q1 24 | $240.0M | $215.5M |
净利润DTMKGS
| Q4 25 | $111.0M | $24.6M | ||
| Q3 25 | $115.0M | $-14.0M | ||
| Q2 25 | $107.0M | $39.5M | ||
| Q1 25 | $108.0M | $30.4M | ||
| Q4 24 | $73.0M | $19.1M | ||
| Q3 24 | $88.0M | $-5.6M | ||
| Q2 24 | $96.0M | $6.2M | ||
| Q1 24 | $97.0M | $30.2M |
毛利率DTMKGS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 37.5% | ||
| Q2 24 | — | 36.5% | ||
| Q1 24 | — | 39.4% |
营业利润率DTMKGS
| Q4 25 | 49.2% | 26.1% | ||
| Q3 25 | 49.4% | 19.9% | ||
| Q2 25 | 50.2% | 30.9% | ||
| Q1 25 | 48.8% | 27.1% | ||
| Q4 24 | 45.4% | 22.3% | ||
| Q3 24 | 49.2% | 20.4% | ||
| Q2 24 | 53.3% | 17.5% | ||
| Q1 24 | 51.7% | 27.9% |
净利率DTMKGS
| Q4 25 | 35.0% | 7.4% | ||
| Q3 25 | 36.6% | -4.3% | ||
| Q2 25 | 34.6% | 12.2% | ||
| Q1 25 | 35.6% | 9.2% | ||
| Q4 24 | 29.3% | 6.2% | ||
| Q3 24 | 35.5% | -1.7% | ||
| Q2 24 | 39.3% | 2.0% | ||
| Q1 24 | 40.4% | 14.0% |
每股收益（稀释后）DTMKGS
| Q4 25 | $1.07 | $0.30 | ||
| Q3 25 | $1.13 | $-0.17 | ||
| Q2 25 | $1.04 | $0.43 | ||
| Q1 25 | $1.06 | $0.33 | ||
| Q4 24 | $0.73 | $0.18 | ||
| Q3 24 | $0.90 | $-0.07 | ||
| Q2 24 | $0.98 | $0.06 | ||
| Q1 24 | $0.99 | $0.39 |
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 | $3.2M |
| 总债务越低越好 | — | $2.6B |
| 股东权益账面价值 | $4.7B | $1.2B |
| 总资产 | $10.1B | $4.3B |
| 负债/权益比越低杠杆越低 | — | 2.12× |
8季度趋势，按日历期对齐
现金及短期投资DTMKGS
| Q4 25 | $54.0M | $3.2M | ||
| Q3 25 | $98.0M | $724.0K | ||
| Q2 25 | $74.0M | $5.4M | ||
| Q1 25 | $83.0M | $1.9M | ||
| Q4 24 | $68.0M | $4.8M | ||
| Q3 24 | $77.0M | $7.4M | ||
| Q2 24 | $73.0M | $3.9M | ||
| Q1 24 | $41.0M | $9.3M |
总债务DTMKGS
| Q4 25 | — | $2.6B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | $3.4B | $2.6B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.5B | ||
| Q1 24 | — | — |
股东权益DTMKGS
| Q4 25 | $4.7B | $1.2B | ||
| Q3 25 | $4.7B | $1.3B | ||
| Q2 25 | $4.7B | $1.3B | ||
| Q1 25 | $4.6B | $1.4B | ||
| Q4 24 | $4.6B | $1.4B | ||
| Q3 24 | $4.2B | $1.4B | ||
| Q2 24 | $4.2B | $1.5B | ||
| Q1 24 | $4.2B | $1.1B |
总资产DTMKGS
| Q4 25 | $10.1B | $4.3B | ||
| Q3 25 | $10.1B | $4.4B | ||
| Q2 25 | $10.0B | $4.4B | ||
| Q1 25 | $9.9B | $4.4B | ||
| Q4 24 | $9.9B | $4.4B | ||
| Q3 24 | $8.6B | $4.5B | ||
| Q2 24 | $9.0B | $4.4B | ||
| Q1 24 | $9.0B | $3.3B |
负债/权益比DTMKGS
| Q4 25 | — | 2.12× | ||
| Q3 25 | — | 2.08× | ||
| Q2 25 | — | 1.89× | ||
| Q1 25 | — | 1.91× | ||
| Q4 24 | 0.72× | 1.88× | ||
| Q3 24 | — | 1.86× | ||
| Q2 24 | — | 1.71× | ||
| 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 | $194.9M |
| 自由现金流经营现金流 - 资本支出 | $30.0M | $142.0M |
| 自由现金流率自由现金流/营收 | 9.5% | 42.7% |
| 资本支出强度资本支出/营收 | 41.3% | 15.9% |
| 现金转化率经营现金流/净利润 | 1.45× | 7.91× |
| 过去12个月自由现金流最近4个季度 | $441.0M | $284.3M |
8季度趋势，按日历期对齐
经营现金流DTMKGS
| Q4 25 | $161.0M | $194.9M | ||
| Q3 25 | $274.0M | $113.4M | ||
| Q2 25 | $185.0M | $177.2M | ||
| Q1 25 | $247.0M | $114.3M | ||
| Q4 24 | $152.0M | $118.5M | ||
| Q3 24 | $205.0M | $36.9M | ||
| Q2 24 | $165.0M | $121.1M | ||
| Q1 24 | $241.0M | $51.5M |
自由现金流DTMKGS
| Q4 25 | $30.0M | $142.0M | ||
| Q3 25 | $131.0M | $10.9M | ||
| Q2 25 | $104.0M | $94.6M | ||
| Q1 25 | $176.0M | $36.8M | ||
| Q4 24 | $62.0M | $45.2M | ||
| Q3 24 | $124.0M | $-49.7M | ||
| Q2 24 | $84.0M | $4.0M | ||
| Q1 24 | $143.0M | $-8.6M |
自由现金流率DTMKGS
| Q4 25 | 9.5% | 42.7% | ||
| Q3 25 | 41.7% | 3.4% | ||
| Q2 25 | 33.7% | 29.3% | ||
| Q1 25 | 58.1% | 11.2% | ||
| Q4 24 | 24.9% | 14.6% | ||
| Q3 24 | 50.0% | -15.3% | ||
| Q2 24 | 34.4% | 1.3% | ||
| Q1 24 | 59.6% | -4.0% |
资本支出强度DTMKGS
| Q4 25 | 41.3% | 15.9% | ||
| Q3 25 | 45.5% | 31.7% | ||
| Q2 25 | 26.2% | 25.6% | ||
| Q1 25 | 23.4% | 23.5% | ||
| Q4 24 | 36.1% | 23.7% | ||
| Q3 24 | 32.7% | 26.7% | ||
| Q2 24 | 33.2% | 37.8% | ||
| Q1 24 | 40.8% | 27.9% |
现金转化率DTMKGS
| Q4 25 | 1.45× | 7.91× | ||
| Q3 25 | 2.38× | — | ||
| Q2 25 | 1.73× | 4.49× | ||
| Q1 25 | 2.29× | 3.76× | ||
| Q4 24 | 2.08× | 6.21× | ||
| Q3 24 | 2.33× | — | ||
| Q2 24 | 1.72× | 19.44× | ||
| Q1 24 | 2.48× | 1.70× |
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% |
KGS
| Other Services | $126.8M | 38% |
| Other | $112.2M | 34% |
| Transferred At Point In Time | $93.8M | 28% |
