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DT Midstream, Inc.（DTM）与EPLUS INC（PLUS）财务数据对比。点击上方公司名可切换其他公司
EPLUS INC的季度营收约是DT Midstream, Inc.的1.9倍（$614.8M vs $317.0M），DT Midstream, Inc.净利率更高（35.0% vs 5.7%，领先29.3%），DT Midstream, Inc.同比增速更快（27.3% vs 20.3%），过去两年DT Midstream, Inc.的营收复合增速更高（14.9% vs 2.3%）
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。
ePlus Inc.是美国的科技咨询解决方案提供商，业务覆盖网络安全、云计算、网络架构、协作办公、人工智能及前沿技术领域，为超5000家客户提供定制化解决方案、专业咨询与托管服务，助力企业实现数字化转型与技术升级。
DTM vs PLUS — 直观对比
营收规模更大
PLUS
是对方的1.9倍
$317.0M
营收增速更快
DTM
高出7.0%
20.3%
净利率更高
DTM
高出29.3%
5.7%
两年增速更快
DTM
近两年复合增速
2.3%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $317.0M | $614.8M |
| 净利润 | $111.0M | $35.1M |
| 毛利率 | — | 25.8% |
| 营业利润率 | 49.2% | 7.1% |
| 净利率 | 35.0% | 5.7% |
| 营收同比 | 27.3% | 20.3% |
| 净利润同比 | 52.1% | 45.2% |
| 每股收益（稀释后） | $1.07 | $1.33 |
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DTMPLUS
| Q4 25 | $317.0M | $614.8M | ||
| Q3 25 | $314.0M | $608.8M | ||
| Q2 25 | $309.0M | $637.3M | ||
| Q1 25 | $303.0M | — | ||
| Q4 24 | $249.0M | $493.2M | ||
| Q3 24 | $248.0M | $493.4M | ||
| Q2 24 | $244.0M | $535.7M | ||
| Q1 24 | $240.0M | — |
净利润DTMPLUS
| Q4 25 | $111.0M | $35.1M | ||
| Q3 25 | $115.0M | $34.9M | ||
| Q2 25 | $107.0M | $37.7M | ||
| Q1 25 | $108.0M | — | ||
| Q4 24 | $73.0M | $24.1M | ||
| Q3 24 | $88.0M | $31.3M | ||
| Q2 24 | $96.0M | $27.3M | ||
| Q1 24 | $97.0M | — |
毛利率DTMPLUS
| Q4 25 | — | 25.8% | ||
| Q3 25 | — | 26.6% | ||
| Q2 25 | — | 23.3% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 25.4% | ||
| Q3 24 | — | 25.8% | ||
| Q2 24 | — | 23.7% | ||
| Q1 24 | — | — |
营业利润率DTMPLUS
| Q4 25 | 49.2% | 7.1% | ||
| Q3 25 | 49.4% | 8.0% | ||
| Q2 25 | 50.2% | 5.7% | ||
| Q1 25 | 48.8% | — | ||
| Q4 24 | 45.4% | 3.3% | ||
| Q3 24 | 49.2% | 5.5% | ||
| Q2 24 | 53.3% | 5.9% | ||
| Q1 24 | 51.7% | — |
净利率DTMPLUS
| Q4 25 | 35.0% | 5.7% | ||
| Q3 25 | 36.6% | 5.7% | ||
| Q2 25 | 34.6% | 5.9% | ||
| Q1 25 | 35.6% | — | ||
| Q4 24 | 29.3% | 4.9% | ||
| Q3 24 | 35.5% | 6.3% | ||
| Q2 24 | 39.3% | 5.1% | ||
| Q1 24 | 40.4% | — |
每股收益（稀释后）DTMPLUS
| Q4 25 | $1.07 | $1.33 | ||
| Q3 25 | $1.13 | $1.32 | ||
| Q2 25 | $1.04 | $1.43 | ||
| Q1 25 | $1.06 | — | ||
| Q4 24 | $0.73 | $0.91 | ||
| Q3 24 | $0.90 | $1.17 | ||
| Q2 24 | $0.98 | $1.02 | ||
| 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 | $326.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.7B | $1.1B |
| 总资产 | $10.1B | $1.8B |
| 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DTMPLUS
| Q4 25 | $54.0M | $326.3M | ||
| Q3 25 | $98.0M | $402.2M | ||
| Q2 25 | $74.0M | $480.2M | ||
| Q1 25 | $83.0M | — | ||
| Q4 24 | $68.0M | $253.1M | ||
| Q3 24 | $77.0M | $187.5M | ||
| Q2 24 | $73.0M | $349.9M | ||
| Q1 24 | $41.0M | — |
总债务DTMPLUS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.4B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DTMPLUS
| Q4 25 | $4.7B | $1.1B | ||
| Q3 25 | $4.7B | $1.0B | ||
| Q2 25 | $4.7B | $1.0B | ||
| Q1 25 | $4.6B | — | ||
| Q4 24 | $4.6B | $962.3M | ||
| Q3 24 | $4.2B | $947.0M | ||
| Q2 24 | $4.2B | $921.9M | ||
| Q1 24 | $4.2B | — |
总资产DTMPLUS
| Q4 25 | $10.1B | $1.8B | ||
| Q3 25 | $10.1B | $1.8B | ||
| Q2 25 | $10.0B | $1.8B | ||
| Q1 25 | $9.9B | — | ||
| Q4 24 | $9.9B | $1.8B | ||
| Q3 24 | $8.6B | $1.7B | ||
| Q2 24 | $9.0B | $1.7B | ||
| Q1 24 | $9.0B | — |
负债/权益比DTMPLUS
| 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 | $-87.4M |
| 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× | -2.49× |
| 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DTMPLUS
| Q4 25 | $161.0M | $-87.4M | ||
| Q3 25 | $274.0M | $-34.8M | ||
| Q2 25 | $185.0M | $-99.0M | ||
| Q1 25 | $247.0M | — | ||
| Q4 24 | $152.0M | $65.7M | ||
| Q3 24 | $205.0M | $-21.6M | ||
| Q2 24 | $165.0M | $97.1M | ||
| Q1 24 | $241.0M | — |
自由现金流DTMPLUS
| 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DTMPLUS
| 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DTMPLUS
| 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DTMPLUS
| Q4 25 | 1.45× | -2.49× | ||
| Q3 25 | 2.38× | -1.00× | ||
| Q2 25 | 1.73× | -2.63× | ||
| Q1 25 | 2.29× | — | ||
| Q4 24 | 2.08× | 2.72× | ||
| Q3 24 | 2.33× | -0.69× | ||
| Q2 24 | 1.72× | 3.55× | ||
| 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% |
PLUS
| All Others Customer End Market | $107.0M | 17% |
| Technology Customer End Market | $89.4M | 15% |
| Health Care Customer End Market | $81.5M | 13% |
| Financial Services Customer End Market | $66.1M | 11% |
| Professional Services Reporting Unit | $64.1M | 10% |
| Security | $61.1M | 10% |
| State And Local Government And Educational Institutions | $59.9M | 10% |
| Managed Services Reporting Unit | $48.8M | 8% |
| Other Product | $21.1M | 3% |
| Collaboration | $13.4M | 2% |
