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DT Midstream, Inc.（DTM）与STARWOOD PROPERTY TRUST, INC.（STWD）财务数据对比。点击上方公司名可切换其他公司
STARWOOD PROPERTY TRUST, INC.的季度营收约是DT Midstream, Inc.的1.6倍（$492.9M vs $317.0M），DT Midstream, Inc.净利率更高（35.0% vs 19.7%，领先15.4%），DT Midstream, Inc.同比增速更快（27.3% vs 8.5%），过去两年DT Midstream, Inc.的营收复合增速更高（14.9% vs -2.9%）
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。
喜达屋酒店及度假村国际集团是全球规模最大的酒店企业之一，业务涵盖酒店、度假村、水疗中心、住宅及度假产权物业的持有、运营、特许经营与管理。集团前身为1969年成立的房地产投资信托基金，1995年完成收购重组，旗下共11个品牌，管理及特许经营的物业共计1297处。
DTM vs STWD — 直观对比
营收规模更大
STWD
是对方的1.6倍
$317.0M
营收增速更快
DTM
高出18.8%
8.5%
净利率更高
DTM
高出15.4%
19.7%
两年增速更快
DTM
近两年复合增速
-2.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $317.0M | $492.9M |
| 净利润 | $111.0M | $96.9M |
| 毛利率 | — | — |
| 营业利润率 | 49.2% | 26.6% |
| 净利率 | 35.0% | 19.7% |
| 营收同比 | 27.3% | 8.5% |
| 净利润同比 | 52.1% | 87.7% |
| 每股收益（稀释后） | $1.07 | $0.25 |
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DTMSTWD
| Q4 25 | $317.0M | $492.9M | ||
| Q3 25 | $314.0M | $488.9M | ||
| Q2 25 | $309.0M | $444.3M | ||
| Q1 25 | $303.0M | $418.2M | ||
| Q4 24 | $249.0M | $454.4M | ||
| Q3 24 | $248.0M | $479.5M | ||
| Q2 24 | $244.0M | $489.8M | ||
| Q1 24 | $240.0M | $523.1M |
净利润DTMSTWD
| Q4 25 | $111.0M | $96.9M | ||
| Q3 25 | $115.0M | $72.6M | ||
| Q2 25 | $107.0M | $129.8M | ||
| Q1 25 | $108.0M | $112.3M | ||
| Q4 24 | $73.0M | $51.6M | ||
| Q3 24 | $88.0M | $76.1M | ||
| Q2 24 | $96.0M | $77.9M | ||
| Q1 24 | $97.0M | $154.3M |
营业利润率DTMSTWD
| Q4 25 | 49.2% | 26.6% | ||
| Q3 25 | 49.4% | 19.1% | ||
| Q2 25 | 50.2% | 30.5% | ||
| Q1 25 | 48.8% | 28.7% | ||
| Q4 24 | 45.4% | 15.1% | ||
| Q3 24 | 49.2% | 17.2% | ||
| Q2 24 | 53.3% | 19.1% | ||
| Q1 24 | 51.7% | 30.8% |
净利率DTMSTWD
| Q4 25 | 35.0% | 19.7% | ||
| Q3 25 | 36.6% | 14.8% | ||
| Q2 25 | 34.6% | 29.2% | ||
| Q1 25 | 35.6% | 26.8% | ||
| Q4 24 | 29.3% | 11.4% | ||
| Q3 24 | 35.5% | 15.9% | ||
| Q2 24 | 39.3% | 15.9% | ||
| Q1 24 | 40.4% | 29.5% |
每股收益（稀释后）DTMSTWD
| Q4 25 | $1.07 | $0.25 | ||
| Q3 25 | $1.13 | $0.19 | ||
| Q2 25 | $1.04 | $0.38 | ||
| Q1 25 | $1.06 | $0.33 | ||
| Q4 24 | $0.73 | $0.15 | ||
| Q3 24 | $0.90 | $0.23 | ||
| Q2 24 | $0.98 | $0.24 | ||
| Q1 24 | $0.99 | $0.48 |
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 | $499.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.7B | $6.8B |
| 总资产 | $10.1B | $63.2B |
| 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DTMSTWD
| Q4 25 | $54.0M | $499.5M | ||
| Q3 25 | $98.0M | $301.1M | ||
| Q2 25 | $74.0M | $259.9M | ||
| Q1 25 | $83.0M | $440.6M | ||
| Q4 24 | $68.0M | $377.8M | ||
| Q3 24 | $77.0M | $357.9M | ||
| Q2 24 | $73.0M | $259.3M | ||
| Q1 24 | $41.0M | $327.4M |
总债务DTMSTWD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.4B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DTMSTWD
| Q4 25 | $4.7B | $6.8B | ||
| Q3 25 | $4.7B | $6.9B | ||
| Q2 25 | $4.7B | $6.4B | ||
| Q1 25 | $4.6B | $6.4B | ||
| Q4 24 | $4.6B | $6.4B | ||
| Q3 24 | $4.2B | $6.5B | ||
| Q2 24 | $4.2B | $6.2B | ||
| Q1 24 | $4.2B | $6.3B |
总资产DTMSTWD
| Q4 25 | $10.1B | $63.2B | ||
| Q3 25 | $10.1B | $62.4B | ||
| Q2 25 | $10.0B | $62.4B | ||
| Q1 25 | $9.9B | $62.2B | ||
| Q4 24 | $9.9B | $62.6B | ||
| Q3 24 | $8.6B | $64.2B | ||
| Q2 24 | $9.0B | $64.1B | ||
| Q1 24 | $9.0B | $66.2B |
负债/权益比DTMSTWD
| 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 | $488.8M |
| 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× | 5.04× |
| 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DTMSTWD
| Q4 25 | $161.0M | $488.8M | ||
| Q3 25 | $274.0M | $337.6M | ||
| Q2 25 | $185.0M | $-87.4M | ||
| Q1 25 | $247.0M | $238.9M | ||
| Q4 24 | $152.0M | $295.6M | ||
| Q3 24 | $205.0M | $241.8M | ||
| Q2 24 | $165.0M | $53.3M | ||
| Q1 24 | $241.0M | $55.9M |
自由现金流DTMSTWD
| 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DTMSTWD
| 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DTMSTWD
| 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DTMSTWD
| Q4 25 | 1.45× | 5.04× | ||
| Q3 25 | 2.38× | 4.65× | ||
| Q2 25 | 1.73× | -0.67× | ||
| Q1 25 | 2.29× | 2.13× | ||
| Q4 24 | 2.08× | 5.72× | ||
| Q3 24 | 2.33× | 3.18× | ||
| Q2 24 | 1.72× | 0.68× | ||
| Q1 24 | 2.48× | 0.36× |
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% |
STWD
| Commercial And Residential Lending Segment | $335.2M | 68% |
| Infrastructure Lending Segment | $70.3M | 14% |
| Property Segment | $57.8M | 12% |
| Other | $29.7M | 6% |
