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ENTERPRISE PRODUCTS PARTNERS L.P.（EPD）与Smurfit Westrock（SW）财务数据对比。点击上方公司名可切换其他公司
ENTERPRISE PRODUCTS PARTNERS L.P.的季度营收约是Smurfit Westrock的1.9倍（$14.4B vs $7.6B），ENTERPRISE PRODUCTS PARTNERS L.P.净利率更高（10.4% vs 1.3%，领先9.1%），Smurfit Westrock同比增速更快（0.5% vs -72.1%），ENTERPRISE PRODUCTS PARTNERS L.P.自由现金流更多（$1.9B vs $612.0M），过去两年Smurfit Westrock的营收复合增速更高（60.8% vs 3.3%）
Enterprise Products Partners L.P.是总部位于美国得克萨斯州休斯敦的中游能源企业，主营天然气与原油管道业务，2004年9月收购GulfTerra，2018年位列美国《财富》500强第105位，丹·邓肯2010年去世前为该公司第一大股东。
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
EPD vs SW — 直观对比
营收规模更大
EPD
是对方的1.9倍
$7.6B
营收增速更快
SW
高出72.6%
-72.1%
净利率更高
EPD
高出9.1%
1.3%
自由现金流更多
EPD
多$1.3B
$612.0M
两年增速更快
SW
近两年复合增速
3.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $14.4B | $7.6B |
| 净利润 | $1.5B | $97.0M |
| 毛利率 | — | 18.2% |
| 营业利润率 | 13.2% | 5.1% |
| 净利率 | 10.4% | 1.3% |
| 营收同比 | -72.1% | 0.5% |
| 净利润同比 | 6.4% | -33.6% |
| 每股收益（稀释后） | — | $0.18 |
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EPDSW
| Q1 26 | $14.4B | — | ||
| Q4 25 | $13.8B | $7.6B | ||
| Q3 25 | $12.0B | $8.0B | ||
| Q2 25 | $11.4B | $7.9B | ||
| Q1 25 | $15.4B | $7.7B | ||
| Q4 24 | $14.2B | $7.5B | ||
| Q3 24 | $13.8B | $7.7B | ||
| Q2 24 | $13.5B | $3.0B |
净利润EPDSW
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.6B | $97.0M | ||
| Q3 25 | $1.3B | $246.0M | ||
| Q2 25 | $1.4B | $-28.0M | ||
| Q1 25 | $1.4B | $384.0M | ||
| Q4 24 | $1.6B | $146.0M | ||
| Q3 24 | $1.4B | $-150.0M | ||
| Q2 24 | $1.4B | $132.0M |
毛利率EPDSW
| Q1 26 | — | — | ||
| Q4 25 | 27.0% | 18.2% | ||
| Q3 25 | 28.6% | 19.6% | ||
| Q2 25 | 30.5% | 19.1% | ||
| Q1 25 | 22.1% | 20.6% | ||
| Q4 24 | 25.3% | 19.1% | ||
| Q3 24 | 24.6% | 17.6% | ||
| Q2 24 | 24.5% | 23.3% |
营业利润率EPDSW
| Q1 26 | 13.2% | — | ||
| Q4 25 | 14.7% | 5.1% | ||
| Q3 25 | 14.0% | 6.6% | ||
| Q2 25 | 15.8% | 3.2% | ||
| Q1 25 | 11.4% | 7.2% | ||
| Q4 24 | 13.9% | 5.3% | ||
| Q3 24 | 12.9% | 0.7% | ||
| Q2 24 | 13.1% | 8.2% |
净利率EPDSW
| Q1 26 | 10.4% | — | ||
| Q4 25 | 11.9% | 1.3% | ||
| Q3 25 | 11.1% | 3.1% | ||
| Q2 25 | 12.6% | -0.4% | ||
| Q1 25 | 9.0% | 5.0% | ||
| Q4 24 | 11.4% | 1.9% | ||
| Q3 24 | 10.3% | -2.0% | ||
| Q2 24 | 10.4% | 4.4% |
每股收益（稀释后）EPDSW
| Q1 26 | — | — | ||
| Q4 25 | — | $0.18 | ||
| Q3 25 | — | $0.47 | ||
| Q2 25 | — | $-0.05 | ||
| Q1 25 | — | $0.73 | ||
| Q4 24 | — | $-0.12 | ||
| Q3 24 | — | $-0.30 | ||
| Q2 24 | — | $0.51 |
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 | — | $892.0M |
| 总债务越低越好 | — | $13.4B |
| 股东权益账面价值 | — | $18.3B |
| 总资产 | — | $45.2B |
| 负债/权益比越低杠杆越低 | — | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资EPDSW
| Q1 26 | — | — | ||
| Q4 25 | $969.0M | $892.0M | ||
| Q3 25 | $206.0M | $851.0M | ||
| Q2 25 | $870.0M | $778.0M | ||
| Q1 25 | $220.0M | $797.0M | ||
| Q4 24 | $583.0M | $855.0M | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $138.0M | $26.8K |
总债务EPDSW
| Q1 26 | — | — | ||
| Q4 25 | — | $13.4B | ||
| Q3 25 | — | $13.3B | ||
| Q2 25 | — | $13.3B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | — | $12.5B | ||
| Q3 24 | — | $13.2B | ||
| Q2 24 | — | — |
股东权益EPDSW
| Q1 26 | — | — | ||
| Q4 25 | — | $18.3B | ||
| Q3 25 | — | $18.4B | ||
| Q2 25 | — | $18.3B | ||
| Q1 25 | — | $17.9B | ||
| Q4 24 | — | $17.4B | ||
| Q3 24 | — | $18.0B | ||
| Q2 24 | — | $14.5K |
总资产EPDSW
| Q1 26 | — | — | ||
| Q4 25 | $77.9B | $45.2B | ||
| Q3 25 | $77.8B | $45.6B | ||
| Q2 25 | $77.4B | $45.7B | ||
| Q1 25 | $75.4B | $44.6B | ||
| Q4 24 | $77.2B | $43.8B | ||
| Q3 24 | $75.1B | $45.0B | ||
| Q2 24 | $73.6B | $26.8K |
负债/权益比EPDSW
| Q1 26 | — | — | ||
| Q4 25 | — | 0.73× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | — | 0.72× | ||
| Q3 24 | — | 0.73× | ||
| Q2 24 | — | — |
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 | — | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $1.9B | $612.0M |
| 自由现金流率自由现金流/营收 | 13.4% | 8.1% |
| 资本支出强度资本支出/营收 | 1.4% | 7.7% |
| 现金转化率经营现金流/净利润 | — | 12.32× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流EPDSW
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $1.2B | ||
| Q3 25 | $1.7B | $1.1B | ||
| Q2 25 | $2.1B | $829.0M | ||
| Q1 25 | $2.3B | $235.0M | ||
| Q4 24 | $2.4B | $781.0M | ||
| Q3 24 | $2.1B | $320.0M | ||
| Q2 24 | $1.6B | $340.0M |
自由现金流EPDSW
| Q1 26 | $1.9B | — | ||
| Q4 25 | — | $612.0M | ||
| Q3 25 | — | $523.0M | ||
| Q2 25 | $762.0M | $307.0M | ||
| Q1 25 | $1.3B | $-242.0M | ||
| Q4 24 | $1.3B | $212.0M | ||
| Q3 24 | $898.0M | $-192.0M | ||
| Q2 24 | $310.0M | $163.0M |
自由现金流率EPDSW
| Q1 26 | 13.4% | — | ||
| Q4 25 | — | 8.1% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | 6.7% | 3.9% | ||
| Q1 25 | 8.1% | -3.2% | ||
| Q4 24 | 9.1% | 2.8% | ||
| Q3 24 | 6.5% | -2.5% | ||
| Q2 24 | 2.3% | 5.5% |
资本支出强度EPDSW
| Q1 26 | 1.4% | — | ||
| Q4 25 | — | 7.7% | ||
| Q3 25 | — | 7.6% | ||
| Q2 25 | 11.4% | 6.6% | ||
| Q1 25 | 6.9% | 6.2% | ||
| Q4 24 | 7.5% | 7.5% | ||
| Q3 24 | 8.5% | 6.7% | ||
| Q2 24 | 9.4% | 6.0% |
现金转化率EPDSW
| Q1 26 | — | — | ||
| Q4 25 | 1.50× | 12.32× | ||
| Q3 25 | 1.30× | 4.61× | ||
| Q2 25 | 1.44× | — | ||
| Q1 25 | 1.66× | 0.61× | ||
| Q4 24 | 1.46× | 5.35× | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | 1.12× | 2.58× |
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
EPD
暂无分部数据
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
