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Devon Energy（DVN）与MARTIN MIDSTREAM PARTNERS L.P.（MMLP）财务数据对比。点击上方公司名可切换其他公司
Devon Energy的季度营收约是MARTIN MIDSTREAM PARTNERS L.P.的21.0倍（$3.9B vs $187.7M）。Devon Energy净利率更高（14.3% vs 1.7%，领先12.6%）。MARTIN MIDSTREAM PARTNERS L.P.同比增速更快（-2.5% vs -12.3%）。Devon Energy自由现金流更多（$702.0M vs $-6.0M）。过去两年Devon Energy的营收复合增速更高（2.6% vs 0.8%）
Devon Energy是美国主营油气勘探开发的能源企业，注册地位于特拉华州，运营总部设在俄克拉荷马州俄克拉荷马市的50层Devon Energy中心，业务布局覆盖特拉华盆地、伊格尔福特产区及落基山脉区域。
Martin Midstream Partners L.P.是美国中游能源服务提供商，主营原油、天然气液、精炼石油产品及特种化学品的存储、运输、分销与加工服务，主要服务北美能源及工业领域客户。
DVN vs MMLP — 直观对比
营收规模更大
DVN
是对方的21.0倍
$187.7M
营收增速更快
MMLP
高出9.7%
-12.3%
净利率更高
DVN
高出12.6%
1.7%
自由现金流更多
DVN
多$708.0M
$-6.0M
两年增速更快
DVN
近两年复合增速
0.8%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $3.9B | $187.7M |
| 净利润 | $562.0M | $3.2M |
| 毛利率 | — | — |
| 营业利润率 | 19.0% | — |
| 净利率 | 14.3% | 1.7% |
| 营收同比 | -12.3% | -2.5% |
| 净利润同比 | -12.1% | 132.4% |
| 每股收益（稀释后） | $0.90 | — |
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DVNMMLP
| Q1 26 | — | $187.7M | ||
| Q4 25 | $3.9B | $174.2M | ||
| Q3 25 | $4.3B | $168.7M | ||
| Q2 25 | $4.0B | $180.7M | ||
| Q1 25 | $4.5B | $192.5M | ||
| Q4 24 | $4.5B | $171.3M | ||
| Q3 24 | $3.8B | $170.9M | ||
| Q2 24 | $3.9B | $184.5M |
净利润DVNMMLP
| Q1 26 | — | $3.2M | ||
| Q4 25 | $562.0M | $-2.9M | ||
| Q3 25 | $687.0M | $-8.4M | ||
| Q2 25 | $899.0M | $-2.4M | ||
| Q1 25 | $494.0M | $-1.0M | ||
| Q4 24 | $639.0M | $-8.9M | ||
| Q3 24 | $812.0M | $-3.3M | ||
| Q2 24 | $844.0M | $3.8M |
毛利率DVNMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | 57.1% | ||
| Q3 25 | — | 55.1% | ||
| Q2 25 | — | 56.5% | ||
| Q1 25 | — | 53.5% | ||
| Q4 24 | — | 58.2% | ||
| Q3 24 | — | 58.5% | ||
| Q2 24 | — | 58.4% |
营业利润率DVNMMLP
| Q1 26 | — | — | ||
| Q4 25 | 19.0% | 7.3% | ||
| Q3 25 | 21.5% | 4.1% | ||
| Q2 25 | 28.7% | 8.2% | ||
| Q1 25 | 14.2% | 7.5% | ||
| Q4 24 | 18.7% | 4.0% | ||
| Q3 24 | 28.0% | 7.4% | ||
| Q2 24 | 26.7% | 10.8% |
净利率DVNMMLP
| Q1 26 | — | 1.7% | ||
| Q4 25 | 14.3% | -1.7% | ||
| Q3 25 | 16.2% | -5.0% | ||
| Q2 25 | 22.2% | -1.3% | ||
| Q1 25 | 10.9% | -0.5% | ||
| Q4 24 | 14.2% | -5.2% | ||
| Q3 24 | 21.4% | -1.9% | ||
| Q2 24 | 21.7% | 2.0% |
每股收益（稀释后）DVNMMLP
| Q1 26 | — | — | ||
| Q4 25 | $0.90 | — | ||
| Q3 25 | $1.09 | — | ||
| Q2 25 | $1.41 | — | ||
| Q1 25 | $0.77 | — | ||
| Q4 24 | $0.98 | — | ||
| Q3 24 | $1.30 | — | ||
| Q2 24 | $1.34 | — |
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 | $1.4B | — |
| 总债务越低越好 | $8.4B | — |
| 股东权益账面价值 | $15.5B | — |
| 总资产 | $31.6B | $537.1M |
| 负债/权益比越低杠杆越低 | 0.54× | — |
8季度趋势，按日历期对齐
现金及短期投资DVNMMLP
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $811.0M | — | ||
| Q3 24 | $645.0M | — | ||
| Q2 24 | $1.1B | — |
总债务DVNMMLP
| Q1 26 | — | — | ||
| Q4 25 | $8.4B | $428.0M | ||
| Q3 25 | $8.4B | $441.3M | ||
| Q2 25 | $8.9B | $427.8M | ||
| Q1 25 | $8.9B | $451.4M | ||
| Q4 24 | $8.9B | $437.6M | ||
| Q3 24 | $8.9B | $469.3M | ||
| Q2 24 | $6.1B | $439.4M |
股东权益DVNMMLP
| Q1 26 | — | — | ||
| Q4 25 | $15.5B | — | ||
| Q3 25 | $15.3B | — | ||
| Q2 25 | $15.1B | — | ||
| Q1 25 | $14.5B | — | ||
| Q4 24 | $14.5B | — | ||
| Q3 24 | $14.3B | — | ||
| Q2 24 | $12.6B | — |
总资产DVNMMLP
| Q1 26 | — | $537.1M | ||
| Q4 25 | $31.6B | $522.4M | ||
| Q3 25 | $31.2B | $510.1M | ||
| Q2 25 | $31.4B | $515.6M | ||
| Q1 25 | $30.9B | $533.4M | ||
| Q4 24 | $30.5B | $538.5M | ||
| Q3 24 | $30.3B | $554.8M | ||
| Q2 24 | $25.2B | $535.1M |
负债/权益比DVNMMLP
| Q1 26 | — | — | ||
| Q4 25 | 0.54× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.59× | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | 0.61× | — | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 0.49× | — |
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 | $1.5B | — |
| 自由现金流经营现金流 - 资本支出 | $702.0M | $-6.0M |
| 自由现金流率自由现金流/营收 | 17.8% | -3.2% |
| 资本支出强度资本支出/营收 | 21.1% | 1.6% |
| 现金转化率经营现金流/净利润 | 2.73× | — |
| 过去12个月自由现金流最近4个季度 | $3.1B | $27.2M |
8季度趋势，按日历期对齐
经营现金流DVNMMLP
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $22.4M | ||
| Q3 25 | $1.7B | $-1.2M | ||
| Q2 25 | $1.5B | $30.9M | ||
| Q1 25 | $1.9B | $-6.0M | ||
| Q4 24 | $1.7B | $42.2M | ||
| Q3 24 | $1.7B | $-15.8M | ||
| Q2 24 | $1.5B | $11.8M |
自由现金流DVNMMLP
| Q1 26 | — | $-6.0M | ||
| Q4 25 | $702.0M | $15.6M | ||
| Q3 25 | $820.0M | $-7.9M | ||
| Q2 25 | $589.0M | $25.6M | ||
| Q1 25 | $1.0B | $-11.9M | ||
| Q4 24 | $738.0M | $34.2M | ||
| Q3 24 | $786.0M | $-25.6M | ||
| Q2 24 | $587.0M | $-696.0K |
自由现金流率DVNMMLP
| Q1 26 | — | -3.2% | ||
| Q4 25 | 17.8% | 8.9% | ||
| Q3 25 | 19.3% | -4.7% | ||
| Q2 25 | 14.6% | 14.2% | ||
| Q1 25 | 22.2% | -6.2% | ||
| Q4 24 | 16.4% | 20.0% | ||
| Q3 24 | 20.7% | -15.0% | ||
| Q2 24 | 15.1% | -0.4% |
资本支出强度DVNMMLP
| Q1 26 | — | 1.6% | ||
| Q4 25 | 21.1% | 3.9% | ||
| Q3 25 | 20.5% | 4.0% | ||
| Q2 25 | 23.6% | 3.0% | ||
| Q1 25 | 20.5% | 3.1% | ||
| Q4 24 | 20.6% | 4.6% | ||
| Q3 24 | 23.1% | 5.8% | ||
| Q2 24 | 24.3% | 6.8% |
现金转化率DVNMMLP
| Q1 26 | — | — | ||
| Q4 25 | 2.73× | — | ||
| Q3 25 | 2.46× | — | ||
| Q2 25 | 1.72× | — | ||
| Q1 25 | 3.93× | — | ||
| Q4 24 | 2.60× | — | ||
| Q3 24 | 2.05× | — | ||
| Q2 24 | 1.82× | 3.13× |
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
DVN
| Oil Gas And NGL Sales | $2.6B | 65% |
| Marketing And Midstream Revenues | $1.4B | 35% |
MMLP
| Specialty products | $61.6M | 33% |
| Transportation * | $52.8M | 28% |
| Other | $46.5M | 25% |
| Terminalling and storage * | $22.4M | 12% |
| Sulfur services | $4.4M | 2% |
