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DT Midstream, Inc.（DTM）与RAYONIER ADVANCED MATERIALS INC.（RYAM）财务数据对比。点击上方公司名可切换其他公司
RAYONIER ADVANCED MATERIALS INC.的季度营收约是DT Midstream, Inc.的1.3倍（$417.5M vs $317.0M），DT Midstream, Inc.净利率更高（35.0% vs -5.0%，领先40.1%），DT Midstream, Inc.同比增速更快（27.3% vs -1.2%），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。
RYAM（原雷尼尔先进材料公司）是一家美国全球性纤维素技术企业，主打高纯度特种纤维素产品，所生产的天然聚合物广泛应用于过滤器生产、食品加工、医药制造及各类工业领域，同时也为造纸和包装行业供应相关产品，在纤维素技术领域拥有较高的行业认可度。
DTM vs RYAM — 直观对比
营收规模更大
RYAM
是对方的1.3倍
$317.0M
营收增速更快
DTM
高出28.5%
-1.2%
净利率更高
DTM
高出40.1%
-5.0%
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 | $417.5M |
| 净利润 | $111.0M | $-21.1M |
| 毛利率 | — | 8.9% |
| 营业利润率 | 49.2% | 2.6% |
| 净利率 | 35.0% | -5.0% |
| 营收同比 | 27.3% | -1.2% |
| 净利润同比 | 52.1% | -31.9% |
| 每股收益（稀释后） | $1.07 | $-0.33 |
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DTMRYAM
| Q4 25 | $317.0M | $417.5M | ||
| Q3 25 | $314.0M | $352.8M | ||
| Q2 25 | $309.0M | $340.0M | ||
| Q1 25 | $303.0M | $356.0M | ||
| Q4 24 | $249.0M | $422.5M | ||
| Q3 24 | $248.0M | $401.1M | ||
| Q2 24 | $244.0M | $419.0M | ||
| Q1 24 | $240.0M | $387.7M |
净利润DTMRYAM
| Q4 25 | $111.0M | $-21.1M | ||
| Q3 25 | $115.0M | $-4.5M | ||
| Q2 25 | $107.0M | $-363.2M | ||
| Q1 25 | $108.0M | $-32.0M | ||
| Q4 24 | $73.0M | $-16.0M | ||
| Q3 24 | $88.0M | $-32.6M | ||
| Q2 24 | $96.0M | $11.4M | ||
| Q1 24 | $97.0M | $-1.6M |
毛利率DTMRYAM
| Q4 25 | — | 8.9% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | — | 7.0% | ||
| Q1 25 | — | 6.8% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | — | 10.9% | ||
| Q2 24 | — | 11.5% | ||
| Q1 24 | — | 9.5% |
营业利润率DTMRYAM
| Q4 25 | 49.2% | 2.6% | ||
| Q3 25 | 49.4% | 2.8% | ||
| Q2 25 | 50.2% | -0.4% | ||
| Q1 25 | 48.8% | -4.2% | ||
| Q4 24 | 45.4% | 2.6% | ||
| Q3 24 | 49.2% | -4.2% | ||
| Q2 24 | 53.3% | 6.7% | ||
| Q1 24 | 51.7% | 4.4% |
净利率DTMRYAM
| Q4 25 | 35.0% | -5.0% | ||
| Q3 25 | 36.6% | -1.3% | ||
| Q2 25 | 34.6% | -106.8% | ||
| Q1 25 | 35.6% | -9.0% | ||
| Q4 24 | 29.3% | -3.8% | ||
| Q3 24 | 35.5% | -8.1% | ||
| Q2 24 | 39.3% | 2.7% | ||
| Q1 24 | 40.4% | -0.4% |
每股收益（稀释后）DTMRYAM
| Q4 25 | $1.07 | $-0.33 | ||
| Q3 25 | $1.13 | $-0.07 | ||
| Q2 25 | $1.04 | $-5.44 | ||
| Q1 25 | $1.06 | $-0.49 | ||
| Q4 24 | $0.73 | $-0.25 | ||
| Q3 24 | $0.90 | $-0.49 | ||
| Q2 24 | $0.98 | $0.17 | ||
| Q1 24 | $0.99 | $-0.02 |
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 | $75.4M |
| 总债务越低越好 | — | $758.1M |
| 股东权益账面价值 | $4.7B | $316.6M |
| 总资产 | $10.1B | $1.8B |
| 负债/权益比越低杠杆越低 | — | 2.39× |
8季度趋势，按日历期对齐
现金及短期投资DTMRYAM
| Q4 25 | $54.0M | $75.4M | ||
| Q3 25 | $98.0M | $77.0M | ||
| Q2 25 | $74.0M | $70.7M | ||
| Q1 25 | $83.0M | $129.9M | ||
| Q4 24 | $68.0M | $125.2M | ||
| Q3 24 | $77.0M | $136.1M | ||
| Q2 24 | $73.0M | $114.1M | ||
| Q1 24 | $41.0M | $54.6M |
总债务DTMRYAM
| Q4 25 | — | $758.1M | ||
| Q3 25 | — | $763.5M | ||
| Q2 25 | — | $720.4M | ||
| Q1 25 | — | $707.0M | ||
| Q4 24 | $3.4B | $706.4M | ||
| Q3 24 | — | $747.7M | ||
| Q2 24 | — | $752.8M | ||
| Q1 24 | — | $755.6M |
股东权益DTMRYAM
| Q4 25 | $4.7B | $316.6M | ||
| Q3 25 | $4.7B | $338.2M | ||
| Q2 25 | $4.7B | $342.3M | ||
| Q1 25 | $4.6B | $688.1M | ||
| Q4 24 | $4.6B | $713.9M | ||
| Q3 24 | $4.2B | $732.7M | ||
| Q2 24 | $4.2B | $755.1M | ||
| Q1 24 | $4.2B | $741.8M |
总资产DTMRYAM
| Q4 25 | $10.1B | $1.8B | ||
| Q3 25 | $10.1B | $1.8B | ||
| Q2 25 | $10.0B | $1.8B | ||
| Q1 25 | $9.9B | $2.1B | ||
| Q4 24 | $9.9B | $2.1B | ||
| Q3 24 | $8.6B | $2.2B | ||
| Q2 24 | $9.0B | $2.2B | ||
| Q1 24 | $9.0B | $2.1B |
负债/权益比DTMRYAM
| Q4 25 | — | 2.39× | ||
| Q3 25 | — | 2.26× | ||
| Q2 25 | — | 2.10× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | 0.72× | 0.99× | ||
| Q3 24 | — | 1.02× | ||
| Q2 24 | — | 1.00× | ||
| Q1 24 | — | 1.02× |
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 | $32.3M |
| 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× | — |
| 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DTMRYAM
| Q4 25 | $161.0M | $32.3M | ||
| Q3 25 | $274.0M | $-17.8M | ||
| Q2 25 | $185.0M | $-30.2M | ||
| Q1 25 | $247.0M | $39.6M | ||
| Q4 24 | $152.0M | $54.9M | ||
| Q3 24 | $205.0M | $49.8M | ||
| Q2 24 | $165.0M | $87.6M | ||
| Q1 24 | $241.0M | $11.3M |
自由现金流DTMRYAM
| 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DTMRYAM
| 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DTMRYAM
| 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DTMRYAM
| Q4 25 | 1.45× | — | ||
| Q3 25 | 2.38× | — | ||
| Q2 25 | 1.73× | — | ||
| Q1 25 | 2.29× | — | ||
| Q4 24 | 2.08× | — | ||
| Q3 24 | 2.33× | — | ||
| Q2 24 | 1.72× | 7.69× | ||
| 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% |
RYAM
| Cellulose Specialties | $249.6M | 60% |
| Other | $86.2M | 21% |
| Paperboard | $44.2M | 11% |
| High Yield Pulp | $28.3M | 7% |
| Biomaterials | $9.2M | 2% |
