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Energy Transfer LP（ET）与RYDER SYSTEM INC（R）财务数据对比。点击上方公司名可切换其他公司
Energy Transfer LP的季度营收约是RYDER SYSTEM INC的8.1倍（$25.3B vs $3.1B），Energy Transfer LP净利率更高（3.7% vs 3.0%，领先0.7%），Energy Transfer LP同比增速更快（29.6% vs 1.0%），RYDER SYSTEM INC自由现金流更多（$273.0M vs $-225.0M），过去两年Energy Transfer LP的营收复合增速更高（8.2% vs -0.9%）
Energy Transfer LP是美国知名能源基础设施运营商，1996年成立，总部位于得克萨斯州达拉斯，主营天然气、原油、液化天然气、成品油等能源产品的管道运输、存储、终端运营及天然气凝析液分馏业务，为公开上市的有限合伙企业。
Ryder System Inc.是美国专业运输物流服务商，总部位于佛罗里达州科勒尔盖布尔斯，业务覆盖美国及英国，核心业务包含卡车租赁、车队管理、供应链及运输管理，同时提供车辆维保、二手车销售、专业司机派遣、电商履约与最后一公里配送等多元服务。
ET vs R — 直观对比
营收规模更大
ET
是对方的8.1倍
$3.1B
营收增速更快
ET
高出28.6%
1.0%
净利率更高
ET
高出0.7%
3.0%
自由现金流更多
R
多$498.0M
$-225.0M
两年增速更快
ET
近两年复合增速
-0.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $25.3B | $3.1B |
| 净利润 | $928.0M | $93.0M |
| 毛利率 | 23.3% | — |
| 营业利润率 | 8.2% | — |
| 净利率 | 3.7% | 3.0% |
| 营收同比 | 29.6% | 1.0% |
| 净利润同比 | -13.8% | -5.1% |
| 每股收益（稀释后） | — | $2.34 |
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ETR
| Q1 26 | — | $3.1B | ||
| Q4 25 | $25.3B | $3.2B | ||
| Q3 25 | $20.0B | $3.2B | ||
| Q2 25 | $19.2B | $3.2B | ||
| Q1 25 | $21.0B | $3.1B | ||
| Q4 24 | $19.5B | $3.2B | ||
| Q3 24 | $20.8B | $3.2B | ||
| Q2 24 | $20.7B | $3.2B |
净利润ETR
| Q1 26 | — | $93.0M | ||
| Q4 25 | $928.0M | $132.0M | ||
| Q3 25 | $1.0B | $138.0M | ||
| Q2 25 | $1.2B | $131.0M | ||
| Q1 25 | $1.3B | $98.0M | ||
| Q4 24 | $1.1B | $135.0M | ||
| Q3 24 | $1.2B | $142.0M | ||
| Q2 24 | $1.3B | $127.0M |
毛利率ETR
| Q1 26 | — | — | ||
| Q4 25 | 23.3% | — | ||
| Q3 25 | 27.0% | — | ||
| Q2 25 | 27.5% | — | ||
| Q1 25 | 25.9% | — | ||
| Q4 24 | 27.6% | — | ||
| Q3 24 | 24.8% | — | ||
| Q2 24 | 24.7% | — |
营业利润率ETR
| Q1 26 | — | — | ||
| Q4 25 | 8.2% | 5.6% | ||
| Q3 25 | 10.8% | 6.0% | ||
| Q2 25 | 12.0% | 5.8% | ||
| Q1 25 | 11.9% | 4.3% | ||
| Q4 24 | 11.7% | 5.7% | ||
| Q3 24 | 10.5% | 5.9% | ||
| Q2 24 | 11.1% | 5.6% |
净利率ETR
| Q1 26 | — | 3.0% | ||
| Q4 25 | 3.7% | 4.2% | ||
| Q3 25 | 5.1% | 4.4% | ||
| Q2 25 | 6.0% | 4.1% | ||
| Q1 25 | 6.3% | 3.1% | ||
| Q4 24 | 5.5% | 4.2% | ||
| Q3 24 | 5.7% | 4.5% | ||
| Q2 24 | 6.3% | 4.0% |
每股收益（稀释后）ETR
| Q1 26 | — | $2.34 | ||
| Q4 25 | — | $3.22 | ||
| Q3 25 | — | $3.32 | ||
| Q2 25 | — | $3.13 | ||
| Q1 25 | — | $2.27 | ||
| Q4 24 | — | $3.09 | ||
| Q3 24 | — | $3.24 | ||
| Q2 24 | — | $2.84 |
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 | $182.0M |
| 总债务越低越好 | $68.3B | — |
| 股东权益账面价值 | $49.0B | $2.9B |
| 总资产 | $141.3B | — |
| 负债/权益比越低杠杆越低 | 1.39× | — |
8季度趋势，按日历期对齐
现金及短期投资ETR
| Q1 26 | — | $182.0M | ||
| Q4 25 | $1.3B | $198.0M | ||
| Q3 25 | $3.6B | $189.0M | ||
| Q2 25 | $242.0M | $180.0M | ||
| Q1 25 | — | $151.0M | ||
| Q4 24 | $312.0M | $154.0M | ||
| Q3 24 | — | $162.0M | ||
| Q2 24 | — | $164.0M |
总债务ETR
| Q1 26 | — | — | ||
| Q4 25 | $68.3B | $6.8B | ||
| Q3 25 | $63.1B | $7.3B | ||
| Q2 25 | $60.8B | $7.0B | ||
| Q1 25 | $59.8B | $6.7B | ||
| Q4 24 | $59.8B | $6.7B | ||
| Q3 24 | $59.3B | $6.6B | ||
| Q2 24 | $57.6B | $6.5B |
股东权益ETR
| Q1 26 | — | $2.9B | ||
| Q4 25 | $49.0B | $3.1B | ||
| Q3 25 | $45.3B | $3.1B | ||
| Q2 25 | $45.5B | $3.1B | ||
| Q1 25 | $46.2B | $3.0B | ||
| Q4 24 | $46.0B | $3.1B | ||
| Q3 24 | $46.2B | $3.1B | ||
| Q2 24 | $45.5B | $3.1B |
总资产ETR
| Q1 26 | — | — | ||
| Q4 25 | $141.3B | $16.4B | ||
| Q3 25 | $129.3B | $16.5B | ||
| Q2 25 | $125.0B | $16.5B | ||
| Q1 25 | $126.4B | $16.4B | ||
| Q4 24 | $125.4B | $16.7B | ||
| Q3 24 | $124.4B | $16.5B | ||
| Q2 24 | $121.3B | $16.4B |
负债/权益比ETR
| Q1 26 | — | — | ||
| Q4 25 | 1.39× | 2.24× | ||
| Q3 25 | 1.39× | 2.35× | ||
| Q2 25 | 1.33× | 2.27× | ||
| Q1 25 | 1.30× | 2.21× | ||
| Q4 24 | 1.30× | 2.14× | ||
| Q3 24 | 1.28× | 2.17× | ||
| Q2 24 | 1.27× | 2.09× |
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 | $1.9B | $583.0M |
| 自由现金流经营现金流 - 资本支出 | $-225.0M | $273.0M |
| 自由现金流率自由现金流/营收 | -0.9% | 8.7% |
| 资本支出强度资本支出/营收 | 8.4% | 13.7% |
| 现金转化率经营现金流/净利润 | 2.05× | 6.27× |
| 过去12个月自由现金流最近4个季度 | $3.8B | $595.0M |
8季度趋势，按日历期对齐
经营现金流ETR
| Q1 26 | — | $583.0M | ||
| Q4 25 | $1.9B | $749.0M | ||
| Q3 25 | $2.6B | $442.0M | ||
| Q2 25 | $2.8B | $752.0M | ||
| Q1 25 | $2.9B | $651.0M | ||
| Q4 24 | $2.6B | $558.0M | ||
| Q3 24 | $2.9B | $629.0M | ||
| Q2 24 | $2.3B | $552.0M |
自由现金流ETR
| Q1 26 | — | $273.0M | ||
| Q4 25 | $-225.0M | $344.0M | ||
| Q3 25 | $1.3B | $-85.0M | ||
| Q2 25 | $1.1B | $63.0M | ||
| Q1 25 | $1.7B | $137.0M | ||
| Q4 24 | $1.1B | $-201.0M | ||
| Q3 24 | $1.8B | $30.0M | ||
| Q2 24 | $1.5B | $-87.0M |
自由现金流率ETR
| Q1 26 | — | 8.7% | ||
| Q4 25 | -0.9% | 10.8% | ||
| Q3 25 | 6.4% | -2.7% | ||
| Q2 25 | 5.7% | 2.0% | ||
| Q1 25 | 8.1% | 4.4% | ||
| Q4 24 | 5.7% | -6.3% | ||
| Q3 24 | 8.6% | 0.9% | ||
| Q2 24 | 7.0% | -2.7% |
资本支出强度ETR
| Q1 26 | — | 13.7% | ||
| Q4 25 | 8.4% | 12.8% | ||
| Q3 25 | 6.5% | 16.6% | ||
| Q2 25 | 8.6% | 21.6% | ||
| Q1 25 | 5.8% | 16.4% | ||
| Q4 24 | 7.5% | 23.8% | ||
| Q3 24 | 5.2% | 18.9% | ||
| Q2 24 | 3.9% | 20.1% |
现金转化率ETR
| Q1 26 | — | 6.27× | ||
| Q4 25 | 2.05× | 5.67× | ||
| Q3 25 | 2.52× | 3.20× | ||
| Q2 25 | 2.37× | 5.74× | ||
| Q1 25 | 2.20× | 6.64× | ||
| Q4 24 | 2.40× | 4.13× | ||
| Q3 24 | 2.43× | 4.43× | ||
| Q2 24 | 1.73× | 4.35× |
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
ET
| Investment In Sunoco LP | $8.6B | 34% |
| NG Landrefinedproductstransportationandservices | $6.2B | 24% |
| NG Lsales | $4.6B | 18% |
| Midstream | $2.7B | 11% |
| Other | $900.0M | 4% |
| External Customers | $805.0M | 3% |
| Interstate Transportation And Storage | $631.0M | 2% |
| Investment In USAC | $252.0M | 1% |
| Intersegment | $97.0M | 0% |
R
| Fleet Management Solutions | $1.5B | 47% |
| ChoiceLease | $878.0M | 28% |
| Dedicated Transportation Solutions | $553.0M | 18% |
| Commercial rental | $211.0M | 7% |
