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化石集团（FOSL）与MARTIN MIDSTREAM PARTNERS L.P.（MMLP）财务数据对比。点击上方公司名可切换其他公司
化石集团的季度营收约是MARTIN MIDSTREAM PARTNERS L.P.的1.4倍（$270.2M vs $187.7M），MARTIN MIDSTREAM PARTNERS L.P.净利率更高（1.7% vs -14.8%，领先16.5%），MARTIN MIDSTREAM PARTNERS L.P.同比增速更快（-2.5% vs -21.1%），MARTIN MIDSTREAM PARTNERS L.P.自由现金流更多（$-6.0M vs $-22.5M），过去两年MARTIN MIDSTREAM PARTNERS L.P.的营收复合增速更高（0.8% vs -11.4%）
化石集团是1984年成立的美国时尚设计制造企业，总部位于得克萨斯州理查森。集团旗下拥有Fossil、Relic、Michele Watch、Skagen、Zodiac Watches等多个品牌，同时也为宝马、彪马、阿玛尼、迈克高仕、DKNY等多个知名品牌代工生产授权配饰。
Martin Midstream Partners L.P.是美国中游能源服务提供商，主营原油、天然气液、精炼石油产品及特种化学品的存储、运输、分销与加工服务，主要服务北美能源及工业领域客户。
FOSL vs MMLP — 直观对比
营收规模更大
FOSL
是对方的1.4倍
$187.7M
营收增速更快
MMLP
高出18.5%
-21.1%
净利率更高
MMLP
高出16.5%
-14.8%
自由现金流更多
MMLP
多$16.5M
$-22.5M
两年增速更快
MMLP
近两年复合增速
-11.4%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $270.2M | $187.7M |
| 净利润 | $-40.0M | $3.2M |
| 毛利率 | 49.0% | — |
| 营业利润率 | -8.0% | 4.1% |
| 净利率 | -14.8% | 1.7% |
| 营收同比 | -21.1% | -2.5% |
| 净利润同比 | -257.8% | -37.1% |
| 每股收益（稀释后） | $-0.76 | — |
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FOSLMMLP
| Q1 26 | — | $187.7M | ||
| Q4 25 | $270.2M | $174.2M | ||
| Q3 25 | $220.4M | $168.7M | ||
| Q2 25 | $233.3M | $180.7M | ||
| Q1 25 | — | $192.5M | ||
| Q4 24 | $342.3M | $171.3M | ||
| Q3 24 | $287.8M | $170.9M | ||
| Q2 24 | $260.0M | $184.5M |
净利润FOSLMMLP
| Q1 26 | — | $3.2M | ||
| Q4 25 | $-40.0M | $-2.9M | ||
| Q3 25 | $-2.1M | $-8.4M | ||
| Q2 25 | $-17.9M | $-2.4M | ||
| Q1 25 | — | $-1.0M | ||
| Q4 24 | $-11.2M | $-8.9M | ||
| Q3 24 | $-31.9M | $-3.3M | ||
| Q2 24 | $-38.8M | $3.8M |
毛利率FOSLMMLP
| Q1 26 | — | — | ||
| Q4 25 | 49.0% | 57.1% | ||
| Q3 25 | 57.5% | 55.1% | ||
| Q2 25 | 61.3% | 56.5% | ||
| Q1 25 | — | 53.5% | ||
| Q4 24 | 53.9% | 58.2% | ||
| Q3 24 | 49.4% | 58.5% | ||
| Q2 24 | 52.6% | 58.4% |
营业利润率FOSLMMLP
| Q1 26 | — | 4.1% | ||
| Q4 25 | -8.0% | 7.3% | ||
| Q3 25 | 3.9% | 4.1% | ||
| Q2 25 | -2.9% | 8.2% | ||
| Q1 25 | — | 7.5% | ||
| Q4 24 | -4.8% | 4.0% | ||
| Q3 24 | -8.5% | 7.4% | ||
| Q2 24 | -13.1% | 10.8% |
净利率FOSLMMLP
| Q1 26 | — | 1.7% | ||
| Q4 25 | -14.8% | -1.7% | ||
| Q3 25 | -1.0% | -5.0% | ||
| Q2 25 | -7.7% | -1.3% | ||
| Q1 25 | — | -0.5% | ||
| Q4 24 | -3.3% | -5.2% | ||
| Q3 24 | -11.1% | -1.9% | ||
| Q2 24 | -14.9% | 2.0% |
每股收益（稀释后）FOSLMMLP
| Q1 26 | — | — | ||
| Q4 25 | $-0.76 | — | ||
| Q3 25 | $-0.04 | — | ||
| Q2 25 | $-0.33 | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-0.15 | — | ||
| Q3 24 | $-0.60 | — | ||
| Q2 24 | $-0.73 | — |
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 | $79.2M | — |
| 总债务越低越好 | $169.1M | — |
| 股东权益账面价值 | $112.6M | — |
| 总资产 | $701.0M | $537.1M |
| 负债/权益比越低杠杆越低 | 1.50× | — |
8季度趋势，按日历期对齐
现金及短期投资FOSLMMLP
| Q1 26 | — | — | ||
| Q4 25 | $79.2M | — | ||
| Q3 25 | $109.9M | — | ||
| Q2 25 | $78.3M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $123.6M | — | ||
| Q3 24 | $106.3M | — | ||
| Q2 24 | $104.9M | — |
总债务FOSLMMLP
| Q1 26 | — | — | ||
| Q4 25 | $169.1M | $428.0M | ||
| Q3 25 | $165.6M | $441.3M | ||
| Q2 25 | $167.2M | $427.8M | ||
| Q1 25 | — | $451.4M | ||
| Q4 24 | $162.7M | $437.6M | ||
| Q3 24 | $173.4M | $469.3M | ||
| Q2 24 | $156.5M | $439.4M |
股东权益FOSLMMLP
| Q1 26 | — | — | ||
| Q4 25 | $112.6M | — | ||
| Q3 25 | $150.3M | — | ||
| Q2 25 | $140.6M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $148.7M | — | ||
| Q3 24 | $164.4M | — | ||
| Q2 24 | $189.6M | — |
总资产FOSLMMLP
| Q1 26 | — | $537.1M | ||
| Q4 25 | $701.0M | $522.4M | ||
| Q3 25 | $704.5M | $510.1M | ||
| Q2 25 | $686.0M | $515.6M | ||
| Q1 25 | — | $533.4M | ||
| Q4 24 | $763.6M | $538.5M | ||
| Q3 24 | $812.4M | $554.8M | ||
| Q2 24 | $785.7M | $535.1M |
负债/权益比FOSLMMLP
| Q1 26 | — | — | ||
| Q4 25 | 1.50× | — | ||
| Q3 25 | 1.10× | — | ||
| Q2 25 | 1.19× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.09× | — | ||
| Q3 24 | 1.06× | — | ||
| Q2 24 | 0.83× | — |
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 | $-22.2M | — |
| 自由现金流经营现金流 - 资本支出 | $-22.5M | $-6.0M |
| 自由现金流率自由现金流/营收 | -8.3% | -3.2% |
| 资本支出强度资本支出/营收 | 0.1% | 1.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-46.0M | $27.2M |
8季度趋势，按日历期对齐
经营现金流FOSLMMLP
| Q1 26 | — | — | ||
| Q4 25 | $-22.2M | $22.4M | ||
| Q3 25 | $9.4M | $-1.2M | ||
| Q2 25 | $-60.4M | $30.9M | ||
| Q1 25 | — | $-6.0M | ||
| Q4 24 | $30.5M | $42.2M | ||
| Q3 24 | $-22.8M | $-15.8M | ||
| Q2 24 | $38.4M | $11.8M |
自由现金流FOSLMMLP
| Q1 26 | — | $-6.0M | ||
| Q4 25 | $-22.5M | $15.6M | ||
| Q3 25 | $8.6M | $-7.9M | ||
| Q2 25 | $-60.6M | $25.6M | ||
| Q1 25 | — | $-11.9M | ||
| Q4 24 | $28.5M | $34.2M | ||
| Q3 24 | $-24.1M | $-25.6M | ||
| Q2 24 | $36.6M | $-696.0K |
自由现金流率FOSLMMLP
| Q1 26 | — | -3.2% | ||
| Q4 25 | -8.3% | 8.9% | ||
| Q3 25 | 3.9% | -4.7% | ||
| Q2 25 | -26.0% | 14.2% | ||
| Q1 25 | — | -6.2% | ||
| Q4 24 | 8.3% | 20.0% | ||
| Q3 24 | -8.4% | -15.0% | ||
| Q2 24 | 14.1% | -0.4% |
资本支出强度FOSLMMLP
| Q1 26 | — | 1.6% | ||
| Q4 25 | 0.1% | 3.9% | ||
| Q3 25 | 0.4% | 4.0% | ||
| Q2 25 | 0.1% | 3.0% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | 0.6% | 4.6% | ||
| Q3 24 | 0.4% | 5.8% | ||
| Q2 24 | 0.7% | 6.8% |
现金转化率FOSLMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.13× |
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
FOSL
| Transferred At Point In Time | $109.7M | 41% |
| Traditional Watches | $91.3M | 34% |
| Other | $50.8M | 19% |
| Leathers | $9.5M | 4% |
| Jewelry | $4.0M | 1% |
| Smartwatches | $3.3M | 1% |
| Products Other | $1.6M | 1% |
MMLP
| Specialty products | $61.6M | 33% |
| Transportation * | $52.8M | 28% |
| Other | $46.5M | 25% |
| Terminalling and storage * | $22.4M | 12% |
| Sulfur services | $4.4M | 2% |
