vs
伟创力（FLEX）与马拉松石油（MPC）财务数据对比。点击上方公司名可切换其他公司
马拉松石油的季度营收约是伟创力的4.4倍（$32.6B vs $7.5B），马拉松石油净利率更高（4.7% vs 3.3%，领先1.4%），伟创力同比增速更快（16.9% vs -1.7%），马拉松石油自由现金流更多（$1.9B vs $212.0M），过去两年伟创力的营收复合增速更高（8.8% vs -0.2%）
伟创力（Flex Ltd.）是一家拥有新加坡与美国背景的跨国制造企业，按营收计算为全球第三大电子制造服务（EMS）及原始设计制造商（ODM），仅次于和硕。其美国总部位于得克萨斯州奥斯汀，在30多个国家设有生产基地，员工总数约17.2万人。
马拉松石油是总部位于美国俄亥俄州芬德利的能源企业，核心业务覆盖石油炼制、销售与运输全链条。该公司此前为马拉松石油集团的全资子公司，于2011年完成分拆后独立运营。
FLEX vs MPC — 直观对比
营收规模更大
MPC
是对方的4.4倍
$7.5B
营收增速更快
FLEX
高出18.6%
-1.7%
净利率更高
MPC
高出1.4%
3.3%
自由现金流更多
MPC
多$1.7B
$212.0M
两年增速更快
FLEX
近两年复合增速
-0.2%
损益表 — Q4 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.5B | $32.6B |
| 净利润 | $250.0M | $1.5B |
| 毛利率 | 9.4% | 11.4% |
| 营业利润率 | 5.0% | 8.3% |
| 净利率 | 3.3% | 4.7% |
| 营收同比 | 16.9% | -1.7% |
| 净利润同比 | 12.6% | 313.7% |
| 每股收益（稀释后） | $0.67 | $4.99 |
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FLEXMPC
| Q1 26 | $7.5B | — | ||
| Q4 25 | $7.1B | $32.6B | ||
| Q3 25 | $6.8B | $34.8B | ||
| Q2 25 | $6.6B | $33.8B | ||
| Q1 25 | $6.4B | $31.5B | ||
| Q4 24 | $6.6B | $33.1B | ||
| Q3 24 | $6.5B | $35.1B | ||
| Q2 24 | $6.3B | $37.9B |
净利润FLEXMPC
| Q1 26 | $250.0M | — | ||
| Q4 25 | $239.0M | $1.5B | ||
| Q3 25 | $199.0M | $1.4B | ||
| Q2 25 | $192.0M | $1.2B | ||
| Q1 25 | $222.0M | $-74.0M | ||
| Q4 24 | $263.0M | $371.0M | ||
| Q3 24 | $214.0M | $622.0M | ||
| Q2 24 | $139.0M | $1.5B |
毛利率FLEXMPC
| Q1 26 | 9.4% | — | ||
| Q4 25 | 9.6% | 11.4% | ||
| Q3 25 | 9.0% | 10.4% | ||
| Q2 25 | 8.7% | 11.2% | ||
| Q1 25 | 8.8% | 6.8% | ||
| Q4 24 | 9.1% | 7.8% | ||
| Q3 24 | 8.1% | 8.4% | ||
| Q2 24 | 7.5% | 10.5% |
营业利润率FLEXMPC
| Q1 26 | 5.0% | — | ||
| Q4 25 | 5.5% | 8.3% | ||
| Q3 25 | 4.4% | 7.8% | ||
| Q2 25 | 4.7% | 6.5% | ||
| Q1 25 | 4.8% | 2.2% | ||
| Q4 24 | 5.1% | 3.4% | ||
| Q3 24 | 4.5% | 3.8% | ||
| Q2 24 | 3.7% | 6.7% |
净利率FLEXMPC
| Q1 26 | 3.3% | — | ||
| Q4 25 | 3.4% | 4.7% | ||
| Q3 25 | 2.9% | 3.9% | ||
| Q2 25 | 2.9% | 3.6% | ||
| Q1 25 | 3.5% | -0.2% | ||
| Q4 24 | 4.0% | 1.1% | ||
| Q3 24 | 3.3% | 1.8% | ||
| Q2 24 | 2.2% | 4.0% |
每股收益（稀释后）FLEXMPC
| Q1 26 | $0.67 | — | ||
| Q4 25 | $0.64 | $4.99 | ||
| Q3 25 | $0.52 | $4.51 | ||
| Q2 25 | $0.50 | $3.96 | ||
| Q1 25 | $0.56 | $-0.24 | ||
| Q4 24 | $0.67 | $1.30 | ||
| Q3 24 | $0.54 | $1.87 | ||
| Q2 24 | $0.34 | $4.33 |
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 | $2.4B | $3.7B |
| 总债务越低越好 | $3.8B | $30.5B |
| 股东权益账面价值 | $5.1B | $17.3B |
| 总资产 | $22.1B | $84.0B |
| 负债/权益比越低杠杆越低 | 0.73× | 1.76× |
8季度趋势，按日历期对齐
现金及短期投资FLEXMPC
| Q1 26 | $2.4B | — | ||
| Q4 25 | $3.1B | $3.7B | ||
| Q3 25 | $2.2B | $2.7B | ||
| Q2 25 | $2.2B | $1.7B | ||
| Q1 25 | $2.3B | $3.8B | ||
| Q4 24 | $2.3B | $3.2B | ||
| Q3 24 | $2.6B | $5.1B | ||
| Q2 24 | $2.2B | $8.5B |
总债务FLEXMPC
| Q1 26 | $3.8B | — | ||
| Q4 25 | $4.4B | $30.5B | ||
| Q3 25 | $3.7B | $31.2B | ||
| Q2 25 | $3.7B | $26.8B | ||
| Q1 25 | $3.7B | $26.8B | ||
| Q4 24 | $3.7B | $24.4B | ||
| Q3 24 | $3.7B | $24.1B | ||
| Q2 24 | $3.2B | $24.0B |
股东权益FLEXMPC
| Q1 26 | $5.1B | — | ||
| Q4 25 | $5.1B | $17.3B | ||
| Q3 25 | $5.0B | $17.1B | ||
| Q2 25 | $5.1B | $16.6B | ||
| Q1 25 | $5.0B | $16.4B | ||
| Q4 24 | $5.0B | $17.7B | ||
| Q3 24 | $5.0B | $18.9B | ||
| Q2 24 | $5.0B | $21.3B |
总资产FLEXMPC
| Q1 26 | $22.1B | — | ||
| Q4 25 | $20.8B | $84.0B | ||
| Q3 25 | $19.5B | $83.2B | ||
| Q2 25 | $19.1B | $78.5B | ||
| Q1 25 | $18.4B | $81.6B | ||
| Q4 24 | $18.3B | $78.9B | ||
| Q3 24 | $18.6B | $79.8B | ||
| Q2 24 | $17.7B | $85.2B |
负债/权益比FLEXMPC
| Q1 26 | 0.73× | — | ||
| Q4 25 | 0.87× | 1.76× | ||
| Q3 25 | 0.73× | 1.83× | ||
| Q2 25 | 0.72× | 1.61× | ||
| Q1 25 | 0.74× | 1.64× | ||
| Q4 24 | 0.74× | 1.38× | ||
| Q3 24 | 0.74× | 1.27× | ||
| Q2 24 | 0.64× | 1.13× |
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 | $413.0M | $3.1B |
| 自由现金流经营现金流 - 资本支出 | $212.0M | $1.9B |
| 自由现金流率自由现金流/营收 | 2.8% | 5.8% |
| 资本支出强度资本支出/营收 | — | 3.6% |
| 现金转化率经营现金流/净利润 | 1.65× | 2.00× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $4.8B |
8季度趋势，按日历期对齐
经营现金流FLEXMPC
| Q1 26 | $413.0M | — | ||
| Q4 25 | $420.0M | $3.1B | ||
| Q3 25 | $453.0M | $2.6B | ||
| Q2 25 | $399.0M | $2.6B | ||
| Q1 25 | $433.0M | $-64.0M | ||
| Q4 24 | $413.0M | $2.2B | ||
| Q3 24 | $319.0M | $1.7B | ||
| Q2 24 | $340.0M | $3.2B |
自由现金流FLEXMPC
| Q1 26 | $212.0M | — | ||
| Q4 25 | $272.0M | $1.9B | ||
| Q3 25 | $303.0M | $1.7B | ||
| Q2 25 | $266.0M | $1.9B | ||
| Q1 25 | $321.0M | $-727.0M | ||
| Q4 24 | $301.0M | $1.4B | ||
| Q3 24 | $216.0M | $1.0B | ||
| Q2 24 | $229.0M | $2.8B |
自由现金流率FLEXMPC
| Q1 26 | 2.8% | — | ||
| Q4 25 | 3.9% | 5.8% | ||
| Q3 25 | 4.5% | 4.8% | ||
| Q2 25 | 4.0% | 5.8% | ||
| Q1 25 | 5.0% | -2.3% | ||
| Q4 24 | 4.6% | 4.2% | ||
| Q3 24 | 3.3% | 2.9% | ||
| Q2 24 | 3.6% | 7.3% |
资本支出强度FLEXMPC
| Q1 26 | — | — | ||
| Q4 25 | 2.1% | 3.6% | ||
| Q3 25 | 2.2% | 2.7% | ||
| Q2 25 | 2.0% | 2.1% | ||
| Q1 25 | 1.8% | 2.1% | ||
| Q4 24 | 1.7% | 2.4% | ||
| Q3 24 | 1.6% | 1.9% | ||
| Q2 24 | 1.8% | 1.3% |
现金转化率FLEXMPC
| Q1 26 | 1.65× | — | ||
| Q4 25 | 1.76× | 2.00× | ||
| Q3 25 | 2.28× | 1.90× | ||
| Q2 25 | 2.08× | 2.17× | ||
| Q1 25 | 1.95× | — | ||
| Q4 24 | 1.57× | 5.95× | ||
| Q3 24 | 1.49× | 2.71× | ||
| Q2 24 | 2.45× | 2.14× |
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
FLEX
暂无分部数据
MPC
| Refined Products | $28.6B | 88% |
| Midstream | $1.4B | 4% |
| Crude Oil | $1.2B | 4% |
| Renewable Diesel | $851.0M | 3% |
| Related Party | $536.0M | 2% |
| Services & Other | $466.0M | 1% |
