vs
DT Midstream, Inc.（DTM）与Mativ Holdings, Inc.（MATV）财务数据对比。点击上方公司名可切换其他公司
Mativ Holdings, Inc.的季度营收约是DT Midstream, Inc.的1.5倍（$463.1M vs $317.0M），DT Midstream, Inc.净利率更高（35.0% vs 21.8%，领先13.2%），DT Midstream, Inc.同比增速更快（27.3% vs 1.0%），DT Midstream, Inc.自由现金流更多（$30.0M vs $8.0M），过去两年DT Midstream, Inc.的营收复合增速更高（14.9% vs -3.8%）
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。
Mativ Holdings是一家全球特种材料制造商，主要生产高性能先进聚合物、无纺布、过滤解决方案及功能性涂层材料，服务医疗、工业、消费品、航空航天、能源等领域，业务遍及北美、欧洲及亚太地区。
DTM vs MATV — 直观对比
营收规模更大
MATV
是对方的1.5倍
$317.0M
营收增速更快
DTM
高出26.3%
1.0%
净利率更高
DTM
高出13.2%
21.8%
自由现金流更多
DTM
多$22.0M
$8.0M
两年增速更快
DTM
近两年复合增速
-3.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $317.0M | $463.1M |
| 净利润 | $111.0M | $100.8M |
| 毛利率 | — | 18.8% |
| 营业利润率 | 49.2% | 2.2% |
| 净利率 | 35.0% | 21.8% |
| 营收同比 | 27.3% | 1.0% |
| 净利润同比 | 52.1% | 6620.0% |
| 每股收益（稀释后） | $1.07 | $1.87 |
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DTMMATV
| Q4 25 | $317.0M | $463.1M | ||
| Q3 25 | $314.0M | $513.7M | ||
| Q2 25 | $309.0M | $525.4M | ||
| Q1 25 | $303.0M | $484.8M | ||
| Q4 24 | $249.0M | $458.6M | ||
| Q3 24 | $248.0M | $498.5M | ||
| Q2 24 | $244.0M | $523.8M | ||
| Q1 24 | $240.0M | $500.2M |
净利润DTMMATV
| Q4 25 | $111.0M | $100.8M | ||
| Q3 25 | $115.0M | $-3.2M | ||
| Q2 25 | $107.0M | $-9.5M | ||
| Q1 25 | $108.0M | $-425.5M | ||
| Q4 24 | $73.0M | $1.5M | ||
| Q3 24 | $88.0M | $-20.8M | ||
| Q2 24 | $96.0M | $-1.4M | ||
| Q1 24 | $97.0M | $-28.0M |
毛利率DTMMATV
| Q4 25 | — | 18.8% | ||
| Q3 25 | — | 19.3% | ||
| Q2 25 | — | 19.7% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | — | 18.8% | ||
| Q2 24 | — | 20.8% | ||
| Q1 24 | — | 16.8% |
营业利润率DTMMATV
| Q4 25 | 49.2% | 2.2% | ||
| Q3 25 | 49.4% | 3.1% | ||
| Q2 25 | 50.2% | 3.8% | ||
| Q1 25 | 48.8% | -88.8% | ||
| Q4 24 | 45.4% | 0.6% | ||
| Q3 24 | 49.2% | 1.4% | ||
| Q2 24 | 53.3% | 2.0% | ||
| Q1 24 | 51.7% | -2.8% |
净利率DTMMATV
| Q4 25 | 35.0% | 21.8% | ||
| Q3 25 | 36.6% | -0.6% | ||
| Q2 25 | 34.6% | -1.8% | ||
| Q1 25 | 35.6% | -87.8% | ||
| Q4 24 | 29.3% | 0.3% | ||
| Q3 24 | 35.5% | -4.2% | ||
| Q2 24 | 39.3% | -0.3% | ||
| Q1 24 | 40.4% | -5.6% |
每股收益（稀释后）DTMMATV
| Q4 25 | $1.07 | $1.87 | ||
| Q3 25 | $1.13 | $-0.06 | ||
| Q2 25 | $1.04 | $-0.18 | ||
| Q1 25 | $1.06 | $-7.82 | ||
| Q4 24 | $0.73 | $0.03 | ||
| Q3 24 | $0.90 | $-0.38 | ||
| Q2 24 | $0.98 | $-0.03 | ||
| Q1 24 | $0.99 | $-0.52 |
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 | $84.2M |
| 总债务越低越好 | — | $1.0B |
| 股东权益账面价值 | $4.7B | $498.7M |
| 总资产 | $10.1B | $2.1B |
| 负债/权益比越低杠杆越低 | — | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资DTMMATV
| Q4 25 | $54.0M | $84.2M | ||
| Q3 25 | $98.0M | $97.1M | ||
| Q2 25 | $74.0M | $95.6M | ||
| Q1 25 | $83.0M | $84.0M | ||
| Q4 24 | $68.0M | $94.3M | ||
| Q3 24 | $77.0M | $162.2M | ||
| Q2 24 | $73.0M | $133.4M | ||
| Q1 24 | $41.0M | $128.9M |
总债务DTMMATV
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $3.4B | $1.1B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
股东权益DTMMATV
| Q4 25 | $4.7B | $498.7M | ||
| Q3 25 | $4.7B | $397.4M | ||
| Q2 25 | $4.7B | $416.6M | ||
| Q1 25 | $4.6B | $428.2M | ||
| Q4 24 | $4.6B | $858.5M | ||
| Q3 24 | $4.2B | $882.3M | ||
| Q2 24 | $4.2B | $898.0M | ||
| Q1 24 | $4.2B | $906.9M |
总资产DTMMATV
| Q4 25 | $10.1B | $2.1B | ||
| Q3 25 | $10.1B | $2.0B | ||
| Q2 25 | $10.0B | $2.1B | ||
| Q1 25 | $9.9B | $2.1B | ||
| Q4 24 | $9.9B | $2.4B | ||
| Q3 24 | $8.6B | $2.6B | ||
| Q2 24 | $9.0B | $2.6B | ||
| Q1 24 | $9.0B | $2.7B |
负债/权益比DTMMATV
| Q4 25 | — | 2.07× | ||
| Q3 25 | — | 2.63× | ||
| Q2 25 | — | 2.66× | ||
| Q1 25 | — | 2.67× | ||
| Q4 24 | 0.72× | 1.30× | ||
| Q3 24 | — | 1.32× | ||
| Q2 24 | — | 1.29× | ||
| Q1 24 | — | 1.30× |
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 | $19.3M |
| 自由现金流经营现金流 - 资本支出 | $30.0M | $8.0M |
| 自由现金流率自由现金流/营收 | 9.5% | 1.7% |
| 资本支出强度资本支出/营收 | 41.3% | 2.4% |
| 现金转化率经营现金流/净利润 | 1.45× | 0.19× |
| 过去12个月自由现金流最近4个季度 | $441.0M | $93.8M |
8季度趋势，按日历期对齐
经营现金流DTMMATV
| Q4 25 | $161.0M | $19.3M | ||
| Q3 25 | $274.0M | $72.8M | ||
| Q2 25 | $185.0M | $57.6M | ||
| Q1 25 | $247.0M | $-15.9M | ||
| Q4 24 | $152.0M | $24.1M | ||
| Q3 24 | $205.0M | $37.6M | ||
| Q2 24 | $165.0M | $46.1M | ||
| Q1 24 | $241.0M | $-13.0M |
自由现金流DTMMATV
| Q4 25 | $30.0M | $8.0M | ||
| Q3 25 | $131.0M | $66.7M | ||
| Q2 25 | $104.0M | $48.9M | ||
| Q1 25 | $176.0M | $-29.8M | ||
| Q4 24 | $62.0M | $2.0M | ||
| Q3 24 | $124.0M | $25.5M | ||
| Q2 24 | $84.0M | $37.4M | ||
| Q1 24 | $143.0M | $-25.1M |
自由现金流率DTMMATV
| Q4 25 | 9.5% | 1.7% | ||
| Q3 25 | 41.7% | 13.0% | ||
| Q2 25 | 33.7% | 9.3% | ||
| Q1 25 | 58.1% | -6.1% | ||
| Q4 24 | 24.9% | 0.4% | ||
| Q3 24 | 50.0% | 5.1% | ||
| Q2 24 | 34.4% | 7.1% | ||
| Q1 24 | 59.6% | -5.0% |
资本支出强度DTMMATV
| Q4 25 | 41.3% | 2.4% | ||
| Q3 25 | 45.5% | 1.2% | ||
| Q2 25 | 26.2% | 1.7% | ||
| Q1 25 | 23.4% | 2.9% | ||
| Q4 24 | 36.1% | 4.8% | ||
| Q3 24 | 32.7% | 2.4% | ||
| Q2 24 | 33.2% | 1.7% | ||
| Q1 24 | 40.8% | 2.4% |
现金转化率DTMMATV
| Q4 25 | 1.45× | 0.19× | ||
| Q3 25 | 2.38× | — | ||
| Q2 25 | 1.73× | — | ||
| Q1 25 | 2.29× | — | ||
| Q4 24 | 2.08× | 16.07× | ||
| Q3 24 | 2.33× | — | ||
| Q2 24 | 1.72× | — | ||
| Q1 24 | 2.48× | — |
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% |
MATV
| Other | $208.7M | 45% |
| SAS Segment | $157.4M | 34% |
| FAM Segment | $97.0M | 21% |
