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F&G Annuities & Life, Inc.（FG）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F&G Annuities & Life, Inc.的1.4倍（$2.5B vs $1.8B），MPLX LP净利率更高（49.1% vs 7.3%，领先41.8%），F&G Annuities & Life, Inc.同比增速更快（13.2% vs 1.4%），过去两年MPLX LP的营收复合增速更高（6.2% vs 6.1%）
F&G年金人寿保险公司是一家总部位于美国爱荷华州得梅因的上市企业，成立于1959年，核心业务涵盖年金产品、人寿保险及养老金收购服务，长期为客户提供多元化的风险保障与养老财务解决方案。
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。
FG vs MPLX — 直观对比
营收规模更大
MPLX
是对方的1.4倍
$1.8B
营收增速更快
FG
高出11.8%
1.4%
净利率更高
MPLX
高出41.8%
7.3%
两年增速更快
MPLX
近两年复合增速
6.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $2.5B |
| 净利润 | $128.0M | $1.2B |
| 毛利率 | — | — |
| 营业利润率 | — | 60.5% |
| 净利率 | 7.3% | 49.1% |
| 营收同比 | 13.2% | 1.4% |
| 净利润同比 | -60.9% | 8.5% |
| 每股收益（稀释后） | $0.97 | — |
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FGMPLX
| Q4 25 | $1.8B | $2.5B | ||
| Q3 25 | $1.7B | $2.5B | ||
| Q2 25 | $1.4B | $2.4B | ||
| Q1 25 | $908.0M | $2.5B | ||
| Q4 24 | $1.6B | $2.4B | ||
| Q3 24 | $1.4B | $2.3B | ||
| Q2 24 | $1.2B | $2.3B | ||
| Q1 24 | $1.6B | $2.2B |
净利润FGMPLX
| Q4 25 | $128.0M | $1.2B | ||
| Q3 25 | $118.0M | $1.6B | ||
| Q2 25 | $40.0M | $1.1B | ||
| Q1 25 | $-21.0M | $1.1B | ||
| Q4 24 | $327.0M | $1.1B | ||
| Q3 24 | $-6.0M | $1.0B | ||
| Q2 24 | $203.0M | $1.2B | ||
| Q1 24 | $115.0M | $1.0B |
营业利润率FGMPLX
| Q4 25 | — | 60.5% | ||
| Q3 25 | — | 73.2% | ||
| Q2 25 | — | 54.9% | ||
| Q1 25 | — | 55.5% | ||
| Q4 24 | — | 55.6% | ||
| Q3 24 | — | 54.4% | ||
| Q2 24 | — | 62.9% | ||
| Q1 24 | — | 57.6% |
净利率FGMPLX
| Q4 25 | 7.3% | 49.1% | ||
| Q3 25 | 7.0% | 63.2% | ||
| Q2 25 | 2.9% | 44.9% | ||
| Q1 25 | -2.3% | 46.2% | ||
| Q4 24 | 21.0% | 45.9% | ||
| Q3 24 | -0.4% | 44.6% | ||
| Q2 24 | 17.3% | 52.6% | ||
| Q1 24 | 7.3% | 46.7% |
每股收益（稀释后）FGMPLX
| Q4 25 | $0.97 | — | ||
| Q3 25 | $0.85 | — | ||
| Q2 25 | $0.26 | — | ||
| Q1 25 | $-0.20 | — | ||
| Q4 24 | $2.53 | — | ||
| Q3 24 | $-0.08 | — | ||
| Q2 24 | $1.55 | — | ||
| Q1 24 | $0.88 | — |
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 | $1.5B | $2.1B |
| 总债务越低越好 | $2.2B | $24.2B |
| 股东权益账面价值 | $4.8B | — |
| 总资产 | $98.4B | $43.0B |
| 负债/权益比越低杠杆越低 | 0.47× | — |
8季度趋势，按日历期对齐
现金及短期投资FGMPLX
| Q4 25 | $1.5B | $2.1B | ||
| Q3 25 | $2.2B | $1.8B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | $3.3B | $2.5B | ||
| Q4 24 | $2.3B | $1.5B | ||
| Q3 24 | $3.5B | $2.4B | ||
| Q2 24 | $3.5B | $2.5B | ||
| Q1 24 | $2.4B | $385.0M |
总债务FGMPLX
| Q4 25 | $2.2B | $24.2B | ||
| Q3 25 | $2.2B | $24.1B | ||
| Q2 25 | $2.2B | $19.7B | ||
| Q1 25 | $2.2B | $19.7B | ||
| Q4 24 | $2.2B | $19.3B | ||
| Q3 24 | $2.0B | $19.3B | ||
| Q2 24 | $2.0B | $19.2B | ||
| Q1 24 | $1.7B | $18.8B |
股东权益FGMPLX
| Q4 25 | $4.8B | — | ||
| Q3 25 | $4.8B | — | ||
| Q2 25 | $4.4B | — | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.0B | — | ||
| Q3 24 | $4.3B | — | ||
| Q2 24 | $3.7B | — | ||
| Q1 24 | $3.5B | — |
总资产FGMPLX
| Q4 25 | $98.4B | $43.0B | ||
| Q3 25 | $96.1B | $43.2B | ||
| Q2 25 | $91.8B | $37.8B | ||
| Q1 25 | $88.0B | $39.0B | ||
| Q4 24 | $85.0B | $37.5B | ||
| Q3 24 | $84.1B | $38.5B | ||
| Q2 24 | $78.5B | $38.4B | ||
| Q1 24 | $74.4B | $36.5B |
负债/权益比FGMPLX
| Q4 25 | 0.47× | — | ||
| Q3 25 | 0.46× | — | ||
| Q2 25 | 0.50× | — | ||
| Q1 25 | 0.51× | — | ||
| Q4 24 | 0.55× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.56× | — | ||
| Q1 24 | 0.49× | — |
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 | $1.5B |
| 自由现金流经营现金流 - 资本支出 | — | $782.0M |
| 自由现金流率自由现金流/营收 | — | 31.9% |
| 资本支出强度资本支出/营收 | — | 29.1% |
| 现金转化率经营现金流/净利润 | 9.13× | 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FGMPLX
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $937.0M | $1.4B | ||
| Q2 25 | $1.6B | $1.7B | ||
| Q1 25 | $956.0M | $1.2B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $2.1B | $1.4B | ||
| Q2 24 | $1.1B | $1.6B | ||
| Q1 24 | $1.5B | $1.3B |
自由现金流FGMPLX
| Q4 25 | — | $782.0M | ||
| Q3 25 | — | $905.0M | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $979.0M | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.0B |
自由现金流率FGMPLX
| Q4 25 | — | 31.9% | ||
| Q3 25 | — | 36.8% | ||
| Q2 25 | — | 60.9% | ||
| Q1 25 | — | 39.8% | ||
| Q4 24 | — | 56.6% | ||
| Q3 24 | — | 48.4% | ||
| Q2 24 | — | 60.0% | ||
| Q1 24 | — | 47.7% |
资本支出强度FGMPLX
| Q4 25 | — | 29.1% | ||
| Q3 25 | — | 21.4% | ||
| Q2 25 | — | 12.8% | ||
| Q1 25 | — | 10.9% | ||
| Q4 24 | — | 12.7% | ||
| Q3 24 | — | 11.9% | ||
| Q2 24 | — | 9.4% | ||
| Q1 24 | — | 11.7% |
现金转化率FGMPLX
| Q4 25 | 9.13× | 1.24× | ||
| Q3 25 | 7.94× | 0.92× | ||
| Q2 25 | 40.50× | 1.64× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | 4.04× | 1.51× | ||
| Q3 24 | — | 1.35× | ||
| Q2 24 | 5.20× | 1.32× | ||
| Q1 24 | 13.34× | 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
FG
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% |
