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杜克能源（DUK）与Sunoco LP（SUN）财务数据对比。点击上方公司名可切换其他公司
Sunoco LP的季度营收约是杜克能源的1.1倍（$8.6B vs $7.8B），杜克能源净利率更高（15.2% vs 1.2%，领先14.1%），Sunoco LP同比增速更快（63.2% vs 7.4%），过去两年Sunoco LP的营收复合增速更高（25.1% vs 1.6%）
杜克能源是总部位于美国北卡罗来纳州夏洛特的电力及天然气控股企业，服务范围覆盖美国东部地区，客户总量超700万。2024年该企业位列美国财富500强第141位，创下其在该榜单的历史最高排名。
Sunoco LP是总部位于美国得克萨斯州达拉斯的业主有限合伙企业，在特拉华州注册成立，历史最早可追溯至1886年。公司最初为垂直一体化能源企业，现已转型为燃油分销商及能源基础设施运营商，此前曾涉足油气勘探开采、炼化、化工生产及燃油零售业务，目前上述业务均已剥离。
DUK vs SUN — 直观对比
营收规模更大
SUN
是对方的1.1倍
$7.8B
营收增速更快
SUN
高出55.9%
7.4%
净利率更高
DUK
高出14.1%
1.2%
两年增速更快
SUN
近两年复合增速
1.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.8B | $8.6B |
| 净利润 | $1.2B | $101.0M |
| 毛利率 | — | 10.7% |
| 营业利润率 | 27.3% | 2.1% |
| 净利率 | 15.2% | 1.2% |
| 营收同比 | 7.4% | 63.2% |
| 净利润同比 | -1.7% | -28.4% |
| 每股收益（稀释后） | $1.49 | — |
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DUKSUN
| Q4 25 | $7.8B | $8.6B | ||
| Q3 25 | $8.4B | $6.0B | ||
| Q2 25 | $7.4B | $5.4B | ||
| Q1 25 | $8.2B | $5.2B | ||
| Q4 24 | $7.2B | $5.3B | ||
| Q3 24 | $8.1B | $5.8B | ||
| Q2 24 | $7.2B | $6.2B | ||
| Q1 24 | $7.5B | $5.5B |
净利润DUKSUN
| Q4 25 | $1.2B | $101.0M | ||
| Q3 25 | $1.4B | $133.0M | ||
| Q2 25 | $984.0M | $86.0M | ||
| Q1 25 | $1.4B | $207.0M | ||
| Q4 24 | $1.2B | $141.0M | ||
| Q3 24 | $1.3B | $2.0M | ||
| Q2 24 | $900.0M | $493.0M | ||
| Q1 24 | $1.1B | $230.0M |
毛利率DUKSUN
| Q4 25 | — | 10.7% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | — | 10.6% | ||
| Q1 25 | — | 12.6% | ||
| Q4 24 | — | 11.9% | ||
| Q3 24 | — | 7.4% | ||
| Q2 24 | — | 9.2% | ||
| Q1 24 | — | 8.8% |
营业利润率DUKSUN
| Q4 25 | 27.3% | 2.1% | ||
| Q3 25 | 27.9% | 4.2% | ||
| Q2 25 | 24.8% | 3.8% | ||
| Q1 25 | 28.5% | 5.7% | ||
| Q4 24 | 29.2% | 4.5% | ||
| Q3 24 | 26.4% | 1.9% | ||
| Q2 24 | 23.9% | 2.4% | ||
| Q1 24 | 26.1% | 5.4% |
净利率DUKSUN
| Q4 25 | 15.2% | 1.2% | ||
| Q3 25 | 17.0% | 2.2% | ||
| Q2 25 | 13.3% | 1.6% | ||
| Q1 25 | 16.8% | 4.0% | ||
| Q4 24 | 16.6% | 2.7% | ||
| Q3 24 | 15.8% | 0.0% | ||
| Q2 24 | 12.6% | 8.0% | ||
| Q1 24 | 15.1% | 4.2% |
每股收益（稀释后）DUKSUN
| Q4 25 | $1.49 | — | ||
| Q3 25 | $1.81 | — | ||
| Q2 25 | $1.25 | — | ||
| Q1 25 | $1.76 | — | ||
| Q4 24 | $1.54 | — | ||
| Q3 24 | $1.60 | — | ||
| Q2 24 | $1.13 | — | ||
| Q1 24 | $1.44 | — |
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 | $245.0M | $891.0M |
| 总债务越低越好 | $80.1B | $13.4B |
| 股东权益账面价值 | $51.8B | — |
| 总资产 | $195.7B | $28.4B |
| 负债/权益比越低杠杆越低 | 1.55× | — |
8季度趋势，按日历期对齐
现金及短期投资DUKSUN
| Q4 25 | $245.0M | $891.0M | ||
| Q3 25 | $688.0M | — | ||
| Q2 25 | $344.0M | — | ||
| Q1 25 | $475.0M | — | ||
| Q4 24 | $314.0M | $94.0M | ||
| Q3 24 | $376.0M | — | ||
| Q2 24 | $390.0M | — | ||
| Q1 24 | $459.0M | — |
总债务DUKSUN
| Q4 25 | $80.1B | $13.4B | ||
| Q3 25 | — | $9.5B | ||
| Q2 25 | — | $7.8B | ||
| Q1 25 | — | $7.7B | ||
| Q4 24 | $76.3B | $7.5B | ||
| Q3 24 | — | $7.3B | ||
| Q2 24 | — | $7.3B | ||
| Q1 24 | — | $3.8B |
股东权益DUKSUN
| Q4 25 | $51.8B | — | ||
| Q3 25 | $51.5B | — | ||
| Q2 25 | $50.9B | — | ||
| Q1 25 | $50.7B | — | ||
| Q4 24 | $50.1B | — | ||
| Q3 24 | $49.1B | — | ||
| Q2 24 | $49.7B | — | ||
| Q1 24 | $49.6B | — |
总资产DUKSUN
| Q4 25 | $195.7B | $28.4B | ||
| Q3 25 | $192.3B | $17.8B | ||
| Q2 25 | $189.7B | $14.4B | ||
| Q1 25 | $187.5B | $14.3B | ||
| Q4 24 | $186.3B | $14.4B | ||
| Q3 24 | $183.6B | $14.1B | ||
| Q2 24 | $181.6B | $14.5B | ||
| Q1 24 | $178.7B | $7.4B |
负债/权益比DUKSUN
| Q4 25 | 1.55× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.52× | — | ||
| 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 | $3.7B | $392.0M |
| 自由现金流经营现金流 - 资本支出 | $-485.0M | — |
| 自由现金流率自由现金流/营收 | -6.2% | — |
| 资本支出强度资本支出/营收 | 53.3% | — |
| 现金转化率经营现金流/净利润 | 3.09× | 3.88× |
| 过去12个月自由现金流最近4个季度 | $-1.7B | — |
8季度趋势，按日历期对齐
经营现金流DUKSUN
| Q4 25 | $3.7B | $392.0M | ||
| Q3 25 | $3.6B | $401.0M | ||
| Q2 25 | $2.9B | $243.0M | ||
| Q1 25 | $2.2B | $156.0M | ||
| Q4 24 | $3.4B | $123.0M | ||
| Q3 24 | $3.5B | $210.0M | ||
| Q2 24 | $3.0B | $-70.0M | ||
| Q1 24 | $2.5B | $286.0M |
自由现金流DUKSUN
| Q4 25 | $-485.0M | — | ||
| Q3 25 | $179.0M | $244.0M | ||
| Q2 25 | $-417.0M | $83.0M | ||
| Q1 25 | $-971.0M | $55.0M | ||
| Q4 24 | $288.0M | — | ||
| Q3 24 | $537.0M | $109.0M | ||
| Q2 24 | $-43.0M | $-140.0M | ||
| Q1 24 | $-734.0M | $245.0M |
自由现金流率DUKSUN
| Q4 25 | -6.2% | — | ||
| Q3 25 | 2.1% | 4.0% | ||
| Q2 25 | -5.7% | 1.5% | ||
| Q1 25 | -11.8% | 1.1% | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 6.6% | 1.9% | ||
| Q2 24 | -0.6% | -2.3% | ||
| Q1 24 | -9.7% | 4.5% |
资本支出强度DUKSUN
| Q4 25 | 53.3% | — | ||
| Q3 25 | 41.2% | 2.6% | ||
| Q2 25 | 44.5% | 3.0% | ||
| Q1 25 | 38.3% | 2.0% | ||
| Q4 24 | 42.7% | — | ||
| Q3 24 | 36.8% | 1.8% | ||
| Q2 24 | 41.9% | 1.1% | ||
| Q1 24 | 42.6% | 0.7% |
现金转化率DUKSUN
| Q4 25 | 3.09× | 3.88× | ||
| Q3 25 | 2.56× | 3.02× | ||
| Q2 25 | 2.91× | 2.83× | ||
| Q1 25 | 1.58× | 0.75× | ||
| Q4 24 | 2.80× | 0.87× | ||
| Q3 24 | 2.75× | 105.00× | ||
| Q2 24 | 3.28× | -0.14× | ||
| Q1 24 | 2.17× | 1.24× |
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
DUK
| Electric Utilitiesand Infrastructure | $7.0B | 90% |
| Other Revenues | $741.0M | 10% |
SUN
| Fuel Distribution | $8.2B | 95% |
| Service Revenue | $440.0M | 5% |
| Lease Revenue | $40.0M | 0% |
| Lease Income | $12.0M | 0% |
