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艺康（ECL）与MPLX LP（MPLX）财务数据对比。点击上方公司名可切换其他公司
艺康的季度营收约是MPLX LP的1.7倍（$4.1B vs $2.5B），MPLX LP净利率更高（49.1% vs 10.6%，领先38.4%），艺康同比增速更快（10.0% vs 1.4%），过去两年MPLX LP的营收复合增速更高（6.2% vs 1.0%）
艺康（Ecolab）总部位于美国明尼苏达州圣保罗市，是全球领先的水处理、清洁消毒与卫生防护产品提供商，核心客户群体覆盖各领域商业机构与工业企业，可助力客户提升运营效率、保障公共卫生安全、实现可持续发展。
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。
ECL vs MPLX — 直观对比
营收规模更大
ECL
是对方的1.7倍
$2.5B
营收增速更快
ECL
高出8.6%
1.4%
净利率更高
MPLX
高出38.4%
10.6%
两年增速更快
MPLX
近两年复合增速
1.0%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.1B | $2.5B |
| 净利润 | $432.6M | $1.2B |
| 毛利率 | — | — |
| 营业利润率 | 15.3% | 60.5% |
| 净利率 | 10.6% | 49.1% |
| 营收同比 | 10.0% | 1.4% |
| 净利润同比 | 1.3% | 8.5% |
| 每股收益（稀释后） | $1.52 | — |
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ECLMPLX
| Q2 26 | $4.1B | — | ||
| Q4 25 | $4.2B | $2.5B | ||
| Q3 25 | $4.2B | $2.5B | ||
| Q2 25 | $4.0B | $2.4B | ||
| Q1 25 | $3.7B | $2.5B | ||
| Q4 24 | $4.0B | $2.4B | ||
| Q3 24 | $4.0B | $2.3B | ||
| Q2 24 | $4.0B | $2.3B |
净利润ECLMPLX
| Q2 26 | $432.6M | — | ||
| Q4 25 | $563.9M | $1.2B | ||
| Q3 25 | $585.0M | $1.6B | ||
| Q2 25 | $524.2M | $1.1B | ||
| Q1 25 | $402.5M | $1.1B | ||
| Q4 24 | $472.9M | $1.1B | ||
| Q3 24 | $736.5M | $1.0B | ||
| Q2 24 | $490.9M | $1.2B |
毛利率ECLMPLX
| Q2 26 | — | — | ||
| Q4 25 | 44.0% | — | ||
| Q3 25 | 44.8% | — | ||
| Q2 25 | 44.8% | — | ||
| Q1 25 | 44.2% | — | ||
| Q4 24 | 43.3% | — | ||
| Q3 24 | 43.4% | — | ||
| Q2 24 | 43.8% | — |
营业利润率ECLMPLX
| Q2 26 | 15.3% | — | ||
| Q4 25 | 17.0% | 60.5% | ||
| Q3 25 | 18.3% | 73.2% | ||
| Q2 25 | 17.6% | 54.9% | ||
| Q1 25 | 15.0% | 55.5% | ||
| Q4 24 | 14.6% | 55.6% | ||
| Q3 24 | 26.1% | 54.4% | ||
| Q2 24 | 16.5% | 62.9% |
净利率ECLMPLX
| Q2 26 | 10.6% | — | ||
| Q4 25 | 13.4% | 49.1% | ||
| Q3 25 | 14.0% | 63.2% | ||
| Q2 25 | 13.0% | 44.9% | ||
| Q1 25 | 10.9% | 46.2% | ||
| Q4 24 | 11.8% | 45.9% | ||
| Q3 24 | 18.4% | 44.6% | ||
| Q2 24 | 12.3% | 52.6% |
每股收益（稀释后）ECLMPLX
| Q2 26 | $1.52 | — | ||
| Q4 25 | $1.98 | — | ||
| Q3 25 | $2.05 | — | ||
| Q2 25 | $1.84 | — | ||
| Q1 25 | $1.41 | — | ||
| Q4 24 | $1.65 | — | ||
| Q3 24 | $2.58 | — | ||
| Q2 24 | $1.71 | — |
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 | $519.8K | $2.1B |
| 总债务越低越好 | $8.5M | $24.2B |
| 股东权益账面价值 | $10.0M | — |
| 总资产 | $25.0M | $43.0B |
| 负债/权益比越低杠杆越低 | 0.85× | — |
8季度趋势，按日历期对齐
现金及短期投资ECLMPLX
| Q2 26 | $519.8K | — | ||
| Q4 25 | $646.2M | $2.1B | ||
| Q3 25 | $2.0B | $1.8B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | $1.2B | $2.5B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $1.3B | $2.4B | ||
| Q2 24 | $384.0M | $2.5B |
总债务ECLMPLX
| Q2 26 | $8.5M | — | ||
| Q4 25 | $7.4B | $24.2B | ||
| Q3 25 | $8.1B | $24.1B | ||
| Q2 25 | $7.5B | $19.7B | ||
| Q1 25 | $7.0B | $19.7B | ||
| Q4 24 | $6.9B | $19.3B | ||
| Q3 24 | $7.0B | $19.3B | ||
| Q2 24 | $7.5B | $19.2B |
股东权益ECLMPLX
| Q2 26 | $10.0M | — | ||
| Q4 25 | $9.8B | — | ||
| Q3 25 | $9.7B | — | ||
| Q2 25 | $9.3B | — | ||
| Q1 25 | $8.9B | — | ||
| Q4 24 | $8.8B | — | ||
| Q3 24 | $8.5B | — | ||
| Q2 24 | $8.3B | — |
总资产ECLMPLX
| Q2 26 | $25.0M | — | ||
| Q4 25 | $24.7B | $43.0B | ||
| Q3 25 | $23.9B | $43.2B | ||
| Q2 25 | $23.7B | $37.8B | ||
| Q1 25 | $22.4B | $39.0B | ||
| Q4 24 | $22.4B | $37.5B | ||
| Q3 24 | $22.1B | $38.5B | ||
| Q2 24 | $21.5B | $38.4B |
负债/权益比ECLMPLX
| Q2 26 | 0.85× | — | ||
| Q4 25 | 0.75× | — | ||
| Q3 25 | 0.83× | — | ||
| Q2 25 | 0.81× | — | ||
| Q1 25 | 0.79× | — | ||
| Q4 24 | 0.79× | — | ||
| Q3 24 | 0.82× | — | ||
| Q2 24 | 0.91× | — |
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ECLMPLX
| Q2 26 | — | — | ||
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $791.3M | $1.4B | ||
| Q2 25 | $701.8M | $1.7B | ||
| Q1 25 | $369.4M | $1.2B | ||
| Q4 24 | $766.7M | $1.7B | ||
| Q3 24 | $786.7M | $1.4B | ||
| Q2 24 | $611.1M | $1.6B |
自由现金流ECLMPLX
| Q2 26 | — | — | ||
| Q4 25 | $758.0M | $782.0M | ||
| Q3 25 | $529.7M | $905.0M | ||
| Q2 25 | $485.1M | $1.4B | ||
| Q1 25 | $131.5M | $979.0M | ||
| Q4 24 | $407.0M | $1.4B | ||
| Q3 24 | $550.3M | $1.1B | ||
| Q2 24 | $414.2M | $1.4B |
自由现金流率ECLMPLX
| Q2 26 | — | — | ||
| Q4 25 | 18.1% | 31.9% | ||
| Q3 25 | 12.7% | 36.8% | ||
| Q2 25 | 12.1% | 60.9% | ||
| Q1 25 | 3.6% | 39.8% | ||
| Q4 24 | 10.2% | 56.6% | ||
| Q3 24 | 13.8% | 48.4% | ||
| Q2 24 | 10.4% | 60.0% |
资本支出强度ECLMPLX
| Q2 26 | — | — | ||
| Q4 25 | 7.9% | 29.1% | ||
| Q3 25 | 6.3% | 21.4% | ||
| Q2 25 | 5.4% | 12.8% | ||
| Q1 25 | 6.4% | 10.9% | ||
| Q4 24 | 9.0% | 12.7% | ||
| Q3 24 | 5.9% | 11.9% | ||
| Q2 24 | 4.9% | 9.4% |
现金转化率ECLMPLX
| Q2 26 | — | — | ||
| Q4 25 | 1.93× | 1.24× | ||
| Q3 25 | 1.35× | 0.92× | ||
| Q2 25 | 1.34× | 1.64× | ||
| Q1 25 | 0.92× | 1.10× | ||
| Q4 24 | 1.62× | 1.51× | ||
| Q3 24 | 1.07× | 1.35× | ||
| Q2 24 | 1.24× | 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
ECL
| Product and equipment sales | $3.2B | 78% |
| Service and lease sales | $891.5M | 22% |
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% |
