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EPAM Systems（EPAM）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EPAM Systems的1.7倍（$2.5B vs $1.4B），MPLX LP净利率更高（49.1% vs 7.8%，领先41.3%），EPAM Systems同比增速更快（12.8% vs 1.4%），MPLX LP自由现金流更多（$782.0M vs $268.1M），过去两年EPAM Systems的营收复合增速更高（9.9% vs 6.2%）
EPAM Systems是总部位于美国宾夕法尼亚州纽敦的企业，核心业务涵盖软件工程服务、数字平台研发、数字产品设计三大板块，同时是MACH联盟的创始成员，在全球数字化服务赛道拥有深厚的技术积累与行业认可度。
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。
EPAM vs MPLX — 直观对比
营收规模更大
MPLX
是对方的1.7倍
$1.4B
营收增速更快
EPAM
高出11.3%
1.4%
净利率更高
MPLX
高出41.3%
7.8%
自由现金流更多
MPLX
多$513.9M
$268.1M
两年增速更快
EPAM
近两年复合增速
6.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.5B |
| 净利润 | $109.4M | $1.2B |
| 毛利率 | 30.1% | — |
| 营业利润率 | 10.6% | 60.5% |
| 净利率 | 7.8% | 49.1% |
| 营收同比 | 12.8% | 1.4% |
| 净利润同比 | 5.9% | 8.5% |
| 每股收益（稀释后） | $1.97 | — |
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EPAMMPLX
| Q4 25 | $1.4B | $2.5B | ||
| Q3 25 | $1.4B | $2.5B | ||
| Q2 25 | $1.4B | $2.4B | ||
| Q1 25 | $1.3B | $2.5B | ||
| Q4 24 | $1.2B | $2.4B | ||
| Q3 24 | $1.2B | $2.3B | ||
| Q2 24 | $1.1B | $2.3B | ||
| Q1 24 | $1.2B | $2.2B |
净利润EPAMMPLX
| Q4 25 | $109.4M | $1.2B | ||
| Q3 25 | $106.8M | $1.6B | ||
| Q2 25 | $88.0M | $1.1B | ||
| Q1 25 | $73.5M | $1.1B | ||
| Q4 24 | $103.3M | $1.1B | ||
| Q3 24 | $136.3M | $1.0B | ||
| Q2 24 | $98.6M | $1.2B | ||
| Q1 24 | $116.2M | $1.0B |
毛利率EPAMMPLX
| Q4 25 | 30.1% | — | ||
| Q3 25 | 29.5% | — | ||
| Q2 25 | 28.8% | — | ||
| Q1 25 | 26.9% | — | ||
| Q4 24 | 30.4% | — | ||
| Q3 24 | 34.6% | — | ||
| Q2 24 | 29.3% | — | ||
| Q1 24 | 28.4% | — |
营业利润率EPAMMPLX
| Q4 25 | 10.6% | 60.5% | ||
| Q3 25 | 10.4% | 73.2% | ||
| Q2 25 | 9.3% | 54.9% | ||
| Q1 25 | 7.6% | 55.5% | ||
| Q4 24 | 10.9% | 55.6% | ||
| Q3 24 | 15.2% | 54.4% | ||
| Q2 24 | 10.5% | 62.9% | ||
| Q1 24 | 9.5% | 57.6% |
净利率EPAMMPLX
| Q4 25 | 7.8% | 49.1% | ||
| Q3 25 | 7.7% | 63.2% | ||
| Q2 25 | 6.5% | 44.9% | ||
| Q1 25 | 5.6% | 46.2% | ||
| Q4 24 | 8.3% | 45.9% | ||
| Q3 24 | 11.7% | 44.6% | ||
| Q2 24 | 8.6% | 52.6% | ||
| Q1 24 | 10.0% | 46.7% |
每股收益（稀释后）EPAMMPLX
| Q4 25 | $1.97 | — | ||
| Q3 25 | $1.91 | — | ||
| Q2 25 | $1.56 | — | ||
| Q1 25 | $1.28 | — | ||
| Q4 24 | $1.80 | — | ||
| Q3 24 | $2.37 | — | ||
| Q2 24 | $1.70 | — | ||
| Q1 24 | $1.97 | — |
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 | $1.3B | $2.1B |
| 总债务越低越好 | — | $24.2B |
| 股东权益账面价值 | $3.7B | — |
| 总资产 | $4.9B | $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EPAMMPLX
| Q4 25 | $1.3B | $2.1B | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $1.2B | $2.5B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $2.1B | $2.4B | ||
| Q2 24 | $1.8B | $2.5B | ||
| Q1 24 | $2.0B | $385.0M |
总债务EPAMMPLX
| 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 | ||
| Q1 24 | — | $18.8B |
股东权益EPAMMPLX
| Q4 25 | $3.7B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $3.7B | — | ||
| Q1 25 | $3.6B | — | ||
| Q4 24 | $3.6B | — | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $3.4B | — | ||
| Q1 24 | $3.5B | — |
总资产EPAMMPLX
| Q4 25 | $4.9B | $43.0B | ||
| Q3 25 | $4.8B | $43.2B | ||
| Q2 25 | $4.7B | $37.8B | ||
| Q1 25 | $4.7B | $39.0B | ||
| Q4 24 | $4.8B | $37.5B | ||
| Q3 24 | $4.5B | $38.5B | ||
| Q2 24 | $4.2B | $38.4B | ||
| Q1 24 | $4.4B | $36.5B |
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 | $282.9M | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $268.1M | $782.0M |
| 自由现金流率自由现金流/营收 | 19.0% | 31.9% |
| 资本支出强度资本支出/营收 | 1.1% | 29.1% |
| 现金转化率经营现金流/净利润 | 2.59× | 1.24× |
| 过去12个月自由现金流最近4个季度 | $612.7M | $4.1B |
8季度趋势，按日历期对齐
经营现金流EPAMMPLX
| Q4 25 | $282.9M | $1.5B | ||
| Q3 25 | $294.7M | $1.4B | ||
| Q2 25 | $53.2M | $1.7B | ||
| Q1 25 | $24.2M | $1.2B | ||
| Q4 24 | $130.3M | $1.7B | ||
| Q3 24 | $242.0M | $1.4B | ||
| Q2 24 | $57.0M | $1.6B | ||
| Q1 24 | $129.9M | $1.3B |
自由现金流EPAMMPLX
| Q4 25 | $268.1M | $782.0M | ||
| Q3 25 | $286.4M | $905.0M | ||
| Q2 25 | $43.4M | $1.4B | ||
| Q1 25 | $14.8M | $979.0M | ||
| Q4 24 | $114.5M | $1.4B | ||
| Q3 24 | $237.0M | $1.1B | ||
| Q2 24 | $52.3M | $1.4B | ||
| Q1 24 | $123.2M | $1.0B |
自由现金流率EPAMMPLX
| Q4 25 | 19.0% | 31.9% | ||
| Q3 25 | 20.5% | 36.8% | ||
| Q2 25 | 3.2% | 60.9% | ||
| Q1 25 | 1.1% | 39.8% | ||
| Q4 24 | 9.2% | 56.6% | ||
| Q3 24 | 20.3% | 48.4% | ||
| Q2 24 | 4.6% | 60.0% | ||
| Q1 24 | 10.6% | 47.7% |
资本支出强度EPAMMPLX
| Q4 25 | 1.1% | 29.1% | ||
| Q3 25 | 0.6% | 21.4% | ||
| Q2 25 | 0.7% | 12.8% | ||
| Q1 25 | 0.7% | 10.9% | ||
| Q4 24 | 1.3% | 12.7% | ||
| Q3 24 | 0.4% | 11.9% | ||
| Q2 24 | 0.4% | 9.4% | ||
| Q1 24 | 0.6% | 11.7% |
现金转化率EPAMMPLX
| Q4 25 | 2.59× | 1.24× | ||
| Q3 25 | 2.76× | 0.92× | ||
| Q2 25 | 0.60× | 1.64× | ||
| Q1 25 | 0.33× | 1.10× | ||
| Q4 24 | 1.26× | 1.51× | ||
| Q3 24 | 1.77× | 1.35× | ||
| Q2 24 | 0.58× | 1.32× | ||
| Q1 24 | 1.12× | 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
EPAM
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% |
