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FirstCash Holdings, Inc.（FCFS）与NGL Energy Partners LP（NGL）财务数据对比。点击上方公司名可切换其他公司
NGL Energy Partners LP的季度营收约是FirstCash Holdings, Inc.的1.8倍（$909.8M vs $501.3M），FirstCash Holdings, Inc.净利率更高（20.8% vs 5.2%，领先15.6%），FirstCash Holdings, Inc.同比增速更快（21.2% vs -41.3%），过去两年FirstCash Holdings, Inc.的营收复合增速更高（16.9% vs -6.4%）
FirstCash Holdings, Inc.是总部位于美国得克萨斯州沃斯堡的典当企业，在美国及拉丁美洲多地运营线下典当零售门店，为纳斯达克证券交易所公开上市企业，在美洲典当服务领域拥有成熟的业务布局与完善的运营网络。
NGL Energy Partners LP是一家总部位于美国的中游能源服务企业，主营原油、液化天然气、可再生燃料的运输、存储及物流服务，同时为上游能源生产商提供水资源管理解决方案，业务主要覆盖北美市场。
FCFS vs NGL — 直观对比
营收规模更大
NGL
是对方的1.8倍
$501.3M
营收增速更快
FCFS
高出62.4%
-41.3%
净利率更高
FCFS
高出15.6%
5.2%
两年增速更快
FCFS
近两年复合增速
-6.4%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $501.3M | $909.8M |
| 净利润 | $104.2M | $47.2M |
| 毛利率 | — | 29.0% |
| 营业利润率 | 28.5% | 12.1% |
| 净利率 | 20.8% | 5.2% |
| 营收同比 | 21.2% | -41.3% |
| 净利润同比 | 24.7% | 249.3% |
| 每股收益（稀释后） | $2.35 | — |
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FCFSNGL
| Q4 25 | $501.3M | $909.8M | ||
| Q3 25 | $411.0M | $674.7M | ||
| Q2 25 | $385.1M | $622.2M | ||
| Q1 25 | $371.1M | $971.1M | ||
| Q4 24 | $413.7M | $982.4M | ||
| Q3 24 | $363.1M | $756.5M | ||
| Q2 24 | $363.5M | $759.2M | ||
| Q1 24 | $366.8M | $1.0B |
净利润FCFSNGL
| Q4 25 | $104.2M | $47.2M | ||
| Q3 25 | $82.8M | $29.3M | ||
| Q2 25 | $59.8M | $68.9M | ||
| Q1 25 | $83.6M | $13.7M | ||
| Q4 24 | $83.5M | $13.5M | ||
| Q3 24 | $64.8M | $2.5M | ||
| Q2 24 | $49.1M | $9.7M | ||
| Q1 24 | $61.4M | $-236.8M |
毛利率FCFSNGL
| Q4 25 | — | 29.0% | ||
| Q3 25 | — | 37.6% | ||
| Q2 25 | — | 38.5% | ||
| Q1 25 | — | 26.9% | ||
| Q4 24 | — | 25.1% | ||
| Q3 24 | — | 30.9% | ||
| Q2 24 | — | 29.0% | ||
| Q1 24 | — | 21.8% |
营业利润率FCFSNGL
| Q4 25 | 28.5% | 12.1% | ||
| Q3 25 | 27.4% | 14.0% | ||
| Q2 25 | 21.1% | 15.7% | ||
| Q1 25 | 30.0% | 8.4% | ||
| Q4 24 | 26.5% | 8.6% | ||
| Q3 24 | 23.5% | 10.8% | ||
| Q2 24 | 18.2% | 10.8% | ||
| Q1 24 | 22.3% | -9.4% |
净利率FCFSNGL
| Q4 25 | 20.8% | 5.2% | ||
| Q3 25 | 20.1% | 4.3% | ||
| Q2 25 | 15.5% | 11.1% | ||
| Q1 25 | 22.5% | 1.4% | ||
| Q4 24 | 20.2% | 1.4% | ||
| Q3 24 | 17.9% | 0.3% | ||
| Q2 24 | 13.5% | 1.3% | ||
| Q1 24 | 16.7% | -22.8% |
每股收益（稀释后）FCFSNGL
| Q4 25 | $2.35 | — | ||
| Q3 25 | $1.86 | — | ||
| Q2 25 | $1.34 | — | ||
| Q1 25 | $1.87 | — | ||
| Q4 24 | $1.86 | — | ||
| Q3 24 | $1.44 | — | ||
| Q2 24 | $1.08 | — | ||
| Q1 24 | $1.35 | — |
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 | $125.2M | $6.5M |
| 总债务越低越好 | $2.2B | $2.9B |
| 股东权益账面价值 | $2.3B | — |
| 总资产 | $5.3B | $4.4B |
| 负债/权益比越低杠杆越低 | 0.98× | — |
8季度趋势，按日历期对齐
现金及短期投资FCFSNGL
| Q4 25 | $125.2M | $6.5M | ||
| Q3 25 | $130.2M | $8.7M | ||
| Q2 25 | $101.5M | $5.4M | ||
| Q1 25 | $146.0M | $13.5M | ||
| Q4 24 | $175.1M | $5.7M | ||
| Q3 24 | $106.3M | $4.5M | ||
| Q2 24 | $113.7M | $5.3M | ||
| Q1 24 | $135.1M | $38.9M |
总债务FCFSNGL
| Q4 25 | $2.2B | $2.9B | ||
| Q3 25 | $2.2B | $2.9B | ||
| Q2 25 | $1.7B | $2.9B | ||
| Q1 25 | $1.7B | $3.0B | ||
| Q4 24 | $1.7B | $3.1B | ||
| Q3 24 | $1.7B | $3.1B | ||
| Q2 24 | $1.7B | $3.0B | ||
| Q1 24 | $1.5B | $2.9B |
股东权益FCFSNGL
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $2.0B | — |
总资产FCFSNGL
| Q4 25 | $5.3B | $4.4B | ||
| Q3 25 | $5.2B | $4.3B | ||
| Q2 25 | $4.5B | $4.2B | ||
| Q1 25 | $4.4B | $4.6B | ||
| Q4 24 | $4.5B | $4.8B | ||
| Q3 24 | $4.4B | $4.9B | ||
| Q2 24 | $4.3B | $4.8B | ||
| Q1 24 | $4.2B | $5.0B |
负债/权益比FCFSNGL
| Q4 25 | 0.98× | — | ||
| Q3 25 | 1.01× | — | ||
| Q2 25 | 0.79× | — | ||
| Q1 25 | 0.83× | — | ||
| Q4 24 | 0.85× | — | ||
| Q3 24 | 0.87× | — | ||
| Q2 24 | 0.85× | — | ||
| Q1 24 | 0.75× | — |
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 | $206.6M | $182.3M |
| 自由现金流经营现金流 - 资本支出 | — | $45.7M |
| 自由现金流率自由现金流/营收 | — | 5.0% |
| 资本支出强度资本支出/营收 | — | 15.0% |
| 现金转化率经营现金流/净利润 | 1.98× | 3.86× |
| 过去12个月自由现金流最近4个季度 | — | $126.7M |
8季度趋势，按日历期对齐
经营现金流FCFSNGL
| Q4 25 | $206.6M | $182.3M | ||
| Q3 25 | $135.8M | $40.5M | ||
| Q2 25 | $116.9M | $33.2M | ||
| Q1 25 | $126.6M | $155.0M | ||
| Q4 24 | $198.1M | $153.8M | ||
| Q3 24 | $113.1M | $6.7M | ||
| Q2 24 | $106.2M | $-18.1M | ||
| Q1 24 | $122.5M | $152.2M |
自由现金流FCFSNGL
| Q4 25 | — | $45.7M | ||
| Q3 25 | — | $9.5M | ||
| Q2 25 | — | $11.1M | ||
| Q1 25 | — | $60.4M | ||
| Q4 24 | — | $152.1M | ||
| Q3 24 | — | $-82.9M | ||
| Q2 24 | — | $-78.0M | ||
| Q1 24 | — | $119.8M |
自由现金流率FCFSNGL
| Q4 25 | — | 5.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 15.5% | ||
| Q3 24 | — | -11.0% | ||
| Q2 24 | — | -10.3% | ||
| Q1 24 | — | 11.5% |
资本支出强度FCFSNGL
| Q4 25 | — | 15.0% | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 9.7% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 11.8% | ||
| Q2 24 | — | 7.9% | ||
| Q1 24 | — | 3.1% |
现金转化率FCFSNGL
| Q4 25 | 1.98× | 3.86× | ||
| Q3 25 | 1.64× | 1.38× | ||
| Q2 25 | 1.95× | 0.48× | ||
| Q1 25 | 1.51× | 11.29× | ||
| Q4 24 | 2.37× | 11.39× | ||
| Q3 24 | 1.74× | 2.74× | ||
| Q2 24 | 2.16× | -1.87× | ||
| Q1 24 | 2.00× | — |
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
FCFS
| US Pawn Segment | $292.2M | 58% |
| Retail POS Payment Solutions | $209.8M | 42% |
NGL
| Water Solutions Segment | $208.6M | 23% |
| Services | $193.3M | 21% |
| Butane | $192.5M | 21% |
| Service Fees | $182.8M | 20% |
| Public Utilities Inventory Propane | $93.9M | 10% |
| Crude Oil | $23.3M | 3% |
| Crude Oil Transportation And Other | $6.5M | 1% |
| Liquids Logistics Segment | $2.5M | 0% |
| Crude Oil Logistics Segment | $1.2M | 0% |
