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DT Midstream, Inc.（DTM）与VIRTUS INVESTMENT PARTNERS, INC.（VRTS）财务数据对比。点击上方公司名可切换其他公司
DT Midstream, Inc.的季度营收约是VIRTUS INVESTMENT PARTNERS, INC.的1.6倍（$317.0M vs $199.5M），DT Midstream, Inc.净利率更高（35.0% vs 3.6%，领先31.5%），DT Midstream, Inc.同比增速更快（27.3% vs -4.1%），过去两年DT Midstream, Inc.的营收复合增速更高（14.9% vs -5.7%）
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。
Virtus Investment Partners是一家美国多管理人资产管理企业，旗下汇集多家具备独立投资流程与自有品牌的关联投资管理人，同时也提供非关联子投资顾问服务，为客户提供多元化的资产管理解决方案。
DTM vs VRTS — 直观对比
营收规模更大
DTM
是对方的1.6倍
$199.5M
营收增速更快
DTM
高出31.4%
-4.1%
净利率更高
DTM
高出31.5%
3.6%
两年增速更快
DTM
近两年复合增速
-5.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $317.0M | $199.5M |
| 净利润 | $111.0M | $7.1M |
| 毛利率 | — | — |
| 营业利润率 | 49.2% | 7.7% |
| 净利率 | 35.0% | 3.6% |
| 营收同比 | 27.3% | -4.1% |
| 净利润同比 | 52.1% | -78.1% |
| 每股收益（稀释后） | $1.07 | $1.05 |
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DTMVRTS
| Q1 26 | — | $199.5M | ||
| Q4 25 | $317.0M | $208.0M | ||
| Q3 25 | $314.0M | $216.4M | ||
| Q2 25 | $309.0M | $210.5M | ||
| Q1 25 | $303.0M | $217.9M | ||
| Q4 24 | $249.0M | $233.5M | ||
| Q3 24 | $248.0M | $227.0M | ||
| Q2 24 | $244.0M | $224.4M |
净利润DTMVRTS
| Q1 26 | — | $7.1M | ||
| Q4 25 | $111.0M | $33.9M | ||
| Q3 25 | $115.0M | $31.3M | ||
| Q2 25 | $107.0M | $42.7M | ||
| Q1 25 | $108.0M | $28.1M | ||
| Q4 24 | $73.0M | $39.5M | ||
| Q3 24 | $88.0M | $49.1M | ||
| Q2 24 | $96.0M | $26.0M |
营业利润率DTMVRTS
| Q1 26 | — | 7.7% | ||
| Q4 25 | 49.2% | 19.1% | ||
| Q3 25 | 49.4% | 21.7% | ||
| Q2 25 | 50.2% | 21.5% | ||
| Q1 25 | 48.8% | 16.8% | ||
| Q4 24 | 45.4% | 21.7% | ||
| Q3 24 | 49.2% | 24.3% | ||
| Q2 24 | 53.3% | 19.7% |
净利率DTMVRTS
| Q1 26 | — | 3.6% | ||
| Q4 25 | 35.0% | 16.3% | ||
| Q3 25 | 36.6% | 14.5% | ||
| Q2 25 | 34.6% | 20.3% | ||
| Q1 25 | 35.6% | 12.9% | ||
| Q4 24 | 29.3% | 16.9% | ||
| Q3 24 | 35.5% | 21.6% | ||
| Q2 24 | 39.3% | 11.6% |
每股收益（稀释后）DTMVRTS
| Q1 26 | — | $1.05 | ||
| Q4 25 | $1.07 | $5.15 | ||
| Q3 25 | $1.13 | $4.65 | ||
| Q2 25 | $1.04 | $6.12 | ||
| Q1 25 | $1.06 | $4.05 | ||
| Q4 24 | $0.73 | $4.65 | ||
| Q3 24 | $0.90 | $5.71 | ||
| Q2 24 | $0.98 | $2.43 |
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 | $136.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.7B | $93.6B |
| 总资产 | $10.1B | — |
| 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DTMVRTS
| Q1 26 | — | $136.6M | ||
| Q4 25 | $54.0M | — | ||
| Q3 25 | $98.0M | — | ||
| Q2 25 | $74.0M | — | ||
| Q1 25 | $83.0M | — | ||
| Q4 24 | $68.0M | — | ||
| Q3 24 | $77.0M | — | ||
| Q2 24 | $73.0M | — |
总债务DTMVRTS
| Q1 26 | — | — | ||
| Q4 25 | — | $390.0M | ||
| Q3 25 | — | $390.6M | ||
| Q2 25 | — | $231.3M | ||
| Q1 25 | — | $231.7M | ||
| Q4 24 | $3.4B | $232.1M | ||
| Q3 24 | — | $237.5M | ||
| Q2 24 | — | $247.6M |
股东权益DTMVRTS
| Q1 26 | — | $93.6B | ||
| Q4 25 | $4.7B | $934.0M | ||
| Q3 25 | $4.7B | $918.7M | ||
| Q2 25 | $4.7B | $896.4M | ||
| Q1 25 | $4.6B | $893.7M | ||
| Q4 24 | $4.6B | $897.5M | ||
| Q3 24 | $4.2B | $889.0M | ||
| Q2 24 | $4.2B | $868.7M |
总资产DTMVRTS
| Q1 26 | — | — | ||
| Q4 25 | $10.1B | $4.3B | ||
| Q3 25 | $10.1B | $3.9B | ||
| Q2 25 | $10.0B | $3.7B | ||
| Q1 25 | $9.9B | $3.7B | ||
| Q4 24 | $9.9B | $4.0B | ||
| Q3 24 | $8.6B | $3.6B | ||
| Q2 24 | $9.0B | $3.6B |
负债/权益比DTMVRTS
| Q1 26 | — | — | ||
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | 0.72× | 0.26× | ||
| Q3 24 | — | 0.27× | ||
| Q2 24 | — | 0.29× |
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 | — |
| 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DTMVRTS
| Q1 26 | — | — | ||
| Q4 25 | $161.0M | $-67.2M | ||
| Q3 25 | $274.0M | $108.3M | ||
| Q2 25 | $185.0M | $75.8M | ||
| Q1 25 | $247.0M | $-3.8M | ||
| Q4 24 | $152.0M | $1.8M | ||
| Q3 24 | $205.0M | $69.1M | ||
| Q2 24 | $165.0M | $70.0M |
自由现金流DTMVRTS
| Q1 26 | — | — | ||
| Q4 25 | $30.0M | $-74.1M | ||
| Q3 25 | $131.0M | $106.9M | ||
| Q2 25 | $104.0M | $74.2M | ||
| Q1 25 | $176.0M | $-6.8M | ||
| Q4 24 | $62.0M | $-3.8M | ||
| Q3 24 | $124.0M | $68.7M | ||
| Q2 24 | $84.0M | $68.6M |
自由现金流率DTMVRTS
| Q1 26 | — | — | ||
| Q4 25 | 9.5% | -35.6% | ||
| Q3 25 | 41.7% | 49.4% | ||
| Q2 25 | 33.7% | 35.2% | ||
| Q1 25 | 58.1% | -3.1% | ||
| Q4 24 | 24.9% | -1.6% | ||
| Q3 24 | 50.0% | 30.3% | ||
| Q2 24 | 34.4% | 30.6% |
资本支出强度DTMVRTS
| Q1 26 | — | — | ||
| Q4 25 | 41.3% | 3.3% | ||
| Q3 25 | 45.5% | 0.7% | ||
| Q2 25 | 26.2% | 0.7% | ||
| Q1 25 | 23.4% | 1.4% | ||
| Q4 24 | 36.1% | 2.4% | ||
| Q3 24 | 32.7% | 0.2% | ||
| Q2 24 | 33.2% | 0.6% |
现金转化率DTMVRTS
| Q1 26 | — | — | ||
| Q4 25 | 1.45× | -1.99× | ||
| Q3 25 | 2.38× | 3.45× | ||
| Q2 25 | 1.73× | 1.77× | ||
| Q1 25 | 2.29× | -0.13× | ||
| Q4 24 | 2.08× | 0.04× | ||
| Q3 24 | 2.33× | 1.41× | ||
| Q2 24 | 1.72× | 2.69× |
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% |
VRTS
| Investment management fees | $169.1M | 85% |
| Administration and shareholder service fees | $17.3M | 9% |
| Distribution and service fees | $11.6M | 6% |
