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德康医疗（DXCM）与MPLX LP（MPLX）财务数据对比。点击上方公司名可切换其他公司
MPLX LP的季度营收约是德康医疗的1.9倍（$2.5B vs $1.3B），MPLX LP净利率更高（49.1% vs 21.2%，领先27.9%），德康医疗同比增速更快（21.6% vs 1.4%），过去两年德康医疗的营收复合增速更高（12.0% vs 6.2%）
德康医疗是美国跨国医疗保健企业，专注于研发、生产及销售糖尿病管理领域的连续血糖监测（CGM）系列系统。其全球总部及研发中心位于美国加利福尼亚州圣地亚哥，生产基地分布于美国亚利桑那州梅萨、马来西亚峇都交湾及爱尔兰戈尔韦郡阿斯里。
MPLX LP旗下子公司MarkWest Energy Partners是美国业主有限合伙企业，主营天然气收集、加工及运输业务。该公司1988年成立于科罗拉多州丹佛市，曾发展为科罗拉多州第13大企业，2015年被马拉松石油旗下的MPLX收购。
DXCM vs MPLX — 直观对比
营收规模更大
MPLX
是对方的1.9倍
$1.3B
营收增速更快
DXCM
高出20.2%
1.4%
净利率更高
MPLX
高出27.9%
21.2%
两年增速更快
DXCM
近两年复合增速
6.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.5B |
| 净利润 | $267.3M | $1.2B |
| 毛利率 | 62.9% | — |
| 营业利润率 | 25.6% | 60.5% |
| 净利率 | 21.2% | 49.1% |
| 营收同比 | 21.6% | 1.4% |
| 净利润同比 | 153.6% | 8.5% |
| 每股收益（稀释后） | $0.67 | — |
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DXCMMPLX
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $2.5B | ||
| Q3 25 | $1.2B | $2.5B | ||
| Q2 25 | $1.2B | $2.4B | ||
| Q1 25 | $1.0B | $2.5B | ||
| Q4 24 | $1.1B | $2.4B | ||
| Q3 24 | $994.2M | $2.3B | ||
| Q2 24 | $1.0B | $2.3B |
净利润DXCMMPLX
| Q1 26 | $267.3M | — | ||
| Q4 25 | $267.3M | $1.2B | ||
| Q3 25 | $283.8M | $1.6B | ||
| Q2 25 | $179.8M | $1.1B | ||
| Q1 25 | $105.4M | $1.1B | ||
| Q4 24 | $151.7M | $1.1B | ||
| Q3 24 | $134.6M | $1.0B | ||
| Q2 24 | $143.5M | $1.2B |
毛利率DXCMMPLX
| Q1 26 | 62.9% | — | ||
| Q4 25 | 62.9% | — | ||
| Q3 25 | 60.5% | — | ||
| Q2 25 | 59.5% | — | ||
| Q1 25 | 56.9% | — | ||
| Q4 24 | 58.9% | — | ||
| Q3 24 | 59.7% | — | ||
| Q2 24 | 62.4% | — |
营业利润率DXCMMPLX
| Q1 26 | 25.6% | — | ||
| Q4 25 | 25.6% | 60.5% | ||
| Q3 25 | 20.1% | 73.2% | ||
| Q2 25 | 18.4% | 54.9% | ||
| Q1 25 | 12.9% | 55.5% | ||
| Q4 24 | 17.0% | 55.6% | ||
| Q3 24 | 15.3% | 54.4% | ||
| Q2 24 | 15.7% | 62.9% |
净利率DXCMMPLX
| Q1 26 | 21.2% | — | ||
| Q4 25 | 21.2% | 49.1% | ||
| Q3 25 | 23.5% | 63.2% | ||
| Q2 25 | 15.5% | 44.9% | ||
| Q1 25 | 10.2% | 46.2% | ||
| Q4 24 | 13.6% | 45.9% | ||
| Q3 24 | 13.5% | 44.6% | ||
| Q2 24 | 14.3% | 52.6% |
每股收益（稀释后）DXCMMPLX
| Q1 26 | $0.67 | — | ||
| Q4 25 | $0.67 | — | ||
| Q3 25 | $0.70 | — | ||
| Q2 25 | $0.45 | — | ||
| Q1 25 | $0.27 | — | ||
| Q4 24 | $0.37 | — | ||
| Q3 24 | $0.34 | — | ||
| Q2 24 | $0.35 | — |
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 | $917.7M | $2.1B |
| 总债务越低越好 | — | $24.2B |
| 股东权益账面价值 | $2.7B | — |
| 总资产 | $6.3B | $43.0B |
| 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DXCMMPLX
| Q1 26 | $917.7M | — | ||
| Q4 25 | $917.7M | $2.1B | ||
| Q3 25 | $1.8B | $1.8B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $904.9M | $2.5B | ||
| Q4 24 | $606.1M | $1.5B | ||
| Q3 24 | $621.2M | $2.4B | ||
| Q2 24 | $939.2M | $2.5B |
总债务DXCMMPLX
| Q1 26 | — | — | ||
| Q4 25 | — | $24.2B | ||
| Q3 25 | — | $24.1B | ||
| Q2 25 | — | $19.7B | ||
| Q1 25 | — | $19.7B | ||
| Q4 24 | — | $19.3B | ||
| Q3 24 | — | $19.3B | ||
| Q2 24 | — | $19.2B |
股东权益DXCMMPLX
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.7B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $2.4B | — |
总资产DXCMMPLX
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.3B | $43.0B | ||
| Q3 25 | $7.5B | $43.2B | ||
| Q2 25 | $7.3B | $37.8B | ||
| Q1 25 | $6.8B | $39.0B | ||
| Q4 24 | $6.5B | $37.5B | ||
| Q3 24 | $6.4B | $38.5B | ||
| Q2 24 | $6.8B | $38.4B |
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 | — | $782.0M |
| 自由现金流率自由现金流/营收 | — | 31.9% |
| 资本支出强度资本支出/营收 | — | 29.1% |
| 现金转化率经营现金流/净利润 | — | 1.24× |
| 过去12个月自由现金流最近4个季度 | — | $4.1B |
8季度趋势，按日历期对齐
经营现金流DXCMMPLX
| Q1 26 | — | — | ||
| Q4 25 | $294.0M | $1.5B | ||
| Q3 25 | $659.9M | $1.4B | ||
| Q2 25 | $303.0M | $1.7B | ||
| Q1 25 | $183.8M | $1.2B | ||
| Q4 24 | $301.4M | $1.7B | ||
| Q3 24 | $199.5M | $1.4B | ||
| Q2 24 | $279.4M | $1.6B |
自由现金流DXCMMPLX
| Q1 26 | — | — | ||
| Q4 25 | $192.1M | $782.0M | ||
| Q3 25 | $579.4M | $905.0M | ||
| Q2 25 | $208.9M | $1.4B | ||
| Q1 25 | $96.8M | $979.0M | ||
| Q4 24 | $176.8M | $1.4B | ||
| Q3 24 | $88.3M | $1.1B | ||
| Q2 24 | $213.3M | $1.4B |
自由现金流率DXCMMPLX
| Q1 26 | — | — | ||
| Q4 25 | 15.3% | 31.9% | ||
| Q3 25 | 47.9% | 36.8% | ||
| Q2 25 | 18.1% | 60.9% | ||
| Q1 25 | 9.3% | 39.8% | ||
| Q4 24 | 15.9% | 56.6% | ||
| Q3 24 | 8.9% | 48.4% | ||
| Q2 24 | 21.2% | 60.0% |
资本支出强度DXCMMPLX
| Q1 26 | — | — | ||
| Q4 25 | 8.1% | 29.1% | ||
| Q3 25 | 6.7% | 21.4% | ||
| Q2 25 | 8.1% | 12.8% | ||
| Q1 25 | 8.4% | 10.9% | ||
| Q4 24 | 11.2% | 12.7% | ||
| Q3 24 | 11.2% | 11.9% | ||
| Q2 24 | 6.6% | 9.4% |
现金转化率DXCMMPLX
| Q1 26 | — | — | ||
| Q4 25 | 1.10× | 1.24× | ||
| Q3 25 | 2.33× | 0.92× | ||
| Q2 25 | 1.69× | 1.64× | ||
| Q1 25 | 1.74× | 1.10× | ||
| Q4 24 | 1.99× | 1.51× | ||
| Q3 24 | 1.48× | 1.35× | ||
| Q2 24 | 1.95× | 1.32× |
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
DXCM
暂无分部数据
MPLX
| Services | $746.0M | 30% |
| Other | $675.0M | 28% |
| Products | $492.0M | 20% |
| Nonrelated Party | $186.0M | 8% |
| Related Party | $151.0M | 6% |
| Crude Oil And Products Logistics | $104.0M | 4% |
| Service Other | $56.0M | 2% |
| Natural Gas And NGL Services | $41.0M | 2% |
