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ENBRIDGE INC（ENB）与MPLX LP（MPLX）财务数据对比。点击上方公司名可切换其他公司
ENBRIDGE INC的季度营收约是MPLX LP的2.3倍（$5.7B vs $2.5B）。MPLX LP净利率更高（49.1% vs 26.2%，领先22.8%）。ENBRIDGE INC同比增速更快（5.3% vs 1.4%）。ENBRIDGE INC自由现金流更多（$2.4B vs $782.0M）。过去两年ENBRIDGE INC的营收复合增速更高（7.6% vs 6.2%）
加拿大恩布里奇公司（Enbridge Inc.）是总部位于阿尔伯塔省卡尔加里的跨国能源管道企业，在加拿大、美国运营管网输送原油、天然气及天然气液，同时布局可再生能源业务。其管网是北美最长、全球规模最大的原油出口管网，拥有近2.9万公里原油管道及超3.83万公里天然气管道。
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。
ENB vs MPLX — 直观对比
营收规模更大
ENB
是对方的2.3倍
$2.5B
营收增速更快
ENB
高出3.9%
1.4%
净利率更高
MPLX
高出22.8%
26.2%
自由现金流更多
ENB
多$1.6B
$782.0M
两年增速更快
ENB
近两年复合增速
6.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $2.5B |
| 净利润 | $1.5B | $1.2B |
| 毛利率 | — | — |
| 营业利润率 | 34.7% | 60.5% |
| 净利率 | 26.2% | 49.1% |
| 营收同比 | 5.3% | 1.4% |
| 净利润同比 | 246.2% | 8.5% |
| 每股收益（稀释后） | — | — |
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ENBMPLX
| Q4 25 | $5.7B | $2.5B | ||
| Q3 25 | $4.5B | $2.5B | ||
| Q2 25 | $4.8B | $2.4B | ||
| Q1 25 | $6.4B | $2.5B | ||
| Q4 24 | $5.4B | $2.4B | ||
| Q3 24 | $4.2B | $2.3B | ||
| Q2 24 | $4.3B | $2.3B | ||
| Q1 24 | $4.9B | $2.2B |
净利润ENBMPLX
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $575.2M | $1.6B | ||
| Q2 25 | $1.7B | $1.1B | ||
| Q1 25 | $1.7B | $1.1B | ||
| Q4 24 | $434.4M | $1.1B | ||
| Q3 24 | $1.0B | $1.0B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.1B | $1.0B |
毛利率ENBMPLX
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 7.5% | — | ||
| Q1 24 | 26.2% | — |
营业利润率ENBMPLX
| Q4 25 | 34.7% | 60.5% | ||
| Q3 25 | 36.9% | 73.2% | ||
| Q2 25 | 35.1% | 54.9% | ||
| Q1 25 | 41.7% | 55.5% | ||
| Q4 24 | 32.8% | 55.6% | ||
| Q3 24 | 38.7% | 54.4% | ||
| Q2 24 | 38.3% | 62.9% | ||
| Q1 24 | 40.0% | 57.6% |
净利率ENBMPLX
| Q4 25 | 26.2% | 49.1% | ||
| Q3 25 | 12.8% | 63.2% | ||
| Q2 25 | 34.9% | 44.9% | ||
| Q1 25 | 26.8% | 46.2% | ||
| Q4 24 | 8.0% | 45.9% | ||
| Q3 24 | 24.3% | 44.6% | ||
| Q2 24 | 32.8% | 52.6% | ||
| Q1 24 | 22.3% | 46.7% |
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 | $798.6M | $2.1B |
| 总债务越低越好 | $72.2B | $24.2B |
| 股东权益账面价值 | $45.5B | — |
| 总资产 | $159.5B | $43.0B |
| 负债/权益比越低杠杆越低 | 1.59× | — |
8季度趋势，按日历期对齐
现金及短期投资ENBMPLX
| Q4 25 | $798.6M | $2.1B | ||
| Q3 25 | $1.0B | $1.8B | ||
| Q2 25 | $878.2M | $1.4B | ||
| Q1 25 | $1.5B | $2.5B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $1.4B | $2.4B | ||
| Q2 24 | $2.6B | $2.5B | ||
| Q1 24 | $886.2M | $385.0M |
总债务ENBMPLX
| Q4 25 | $72.2B | $24.2B | ||
| Q3 25 | $73.4B | $24.1B | ||
| Q2 25 | $70.8B | $19.7B | ||
| Q1 25 | $70.9B | $19.7B | ||
| Q4 24 | $68.2B | $19.3B | ||
| Q3 24 | $63.7B | $19.3B | ||
| Q2 24 | $62.2B | $19.2B | ||
| Q1 24 | $59.4B | $18.8B |
股东权益ENBMPLX
| Q4 25 | $45.5B | — | ||
| Q3 25 | $47.6B | — | ||
| Q2 25 | $47.8B | — | ||
| Q1 25 | $49.8B | — | ||
| Q4 24 | $48.1B | — | ||
| Q3 24 | $48.0B | — | ||
| Q2 24 | $49.1B | — | ||
| Q1 24 | $46.9B | — |
总资产ENBMPLX
| Q4 25 | $159.5B | $43.0B | ||
| Q3 25 | $158.4B | $43.2B | ||
| Q2 25 | $154.5B | $37.8B | ||
| Q1 25 | $160.6B | $39.0B | ||
| Q4 24 | $159.9B | $37.5B | ||
| Q3 24 | $150.2B | $38.5B | ||
| Q2 24 | $146.9B | $38.4B | ||
| Q1 24 | $139.2B | $36.5B |
负债/权益比ENBMPLX
| Q4 25 | 1.59× | — | ||
| Q3 25 | 1.54× | — | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 1.42× | — | ||
| Q4 24 | 1.42× | — | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 1.27× | — | ||
| Q1 24 | 1.27× | — |
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 | $9.0B | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $782.0M |
| 自由现金流率自由现金流/营收 | 42.0% | 31.9% |
| 资本支出强度资本支出/营收 | 114.3% | 29.1% |
| 现金转化率经营现金流/净利润 | 5.96× | 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ENBMPLX
| Q4 25 | $9.0B | $1.5B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | $2.2B | $1.2B | ||
| Q4 24 | $9.2B | $1.7B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | $2.3B | $1.3B |
自由现金流ENBMPLX
| Q4 25 | $2.4B | $782.0M | ||
| Q3 25 | — | $905.0M | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | $970.9M | $979.0M | ||
| Q4 24 | $4.3B | $1.4B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | $1.4B | $1.0B |
自由现金流率ENBMPLX
| Q4 25 | 42.0% | 31.9% | ||
| Q3 25 | — | 36.8% | ||
| Q2 25 | — | 60.9% | ||
| Q1 25 | 15.1% | 39.8% | ||
| Q4 24 | 79.0% | 56.6% | ||
| Q3 24 | — | 48.4% | ||
| Q2 24 | — | 60.0% | ||
| Q1 24 | 29.0% | 47.7% |
资本支出强度ENBMPLX
| Q4 25 | 114.3% | 29.1% | ||
| Q3 25 | — | 21.4% | ||
| Q2 25 | — | 12.8% | ||
| Q1 25 | 19.6% | 10.9% | ||
| Q4 24 | 90.1% | 12.7% | ||
| Q3 24 | — | 11.9% | ||
| Q2 24 | — | 9.4% | ||
| Q1 24 | 17.5% | 11.7% |
现金转化率ENBMPLX
| Q4 25 | 5.96× | 1.24× | ||
| Q3 25 | — | 0.92× | ||
| Q2 25 | — | 1.64× | ||
| Q1 25 | 1.29× | 1.10× | ||
| Q4 24 | 21.18× | 1.51× | ||
| Q3 24 | — | 1.35× | ||
| Q2 24 | — | 1.32× | ||
| Q1 24 | 2.08× | 1.27× |
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
ENB
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% |
