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GENESIS ENERGY LP（GEL）与Kodiak Gas Services, Inc.（KGS）财务数据对比。点击上方公司名可切换其他公司
GENESIS ENERGY LP的季度营收约是Kodiak Gas Services, Inc.的1.3倍（$440.8M vs $332.9M），Kodiak Gas Services, Inc.净利率更高（7.4% vs 4.5%，领先2.9%），GENESIS ENERGY LP同比增速更快（10.5% vs 7.5%），Kodiak Gas Services, Inc.自由现金流更多（$142.0M vs $87.0M），过去两年Kodiak Gas Services, Inc.的营收复合增速更高（24.3% vs 0.7%）
Genesis Energy LP是一家总部位于美国的中游能源合伙企业，主营原油、天然气、成品油及特种工业原料的基础设施运营与物流服务，旗下资产涵盖管道、仓储码头、海运设施及铁路物流枢纽，为北美地区的炼油厂、工业客户及能源分销商提供服务。
Kodiak Gas Services是北美知名的天然气压缩服务供应商，主要服务油气行业上下游客户，提供定制化压缩设备、运维及运营支持，帮助客户优化陆上天然气收集、处理与运输全流程的运营效率。
GEL vs KGS — 直观对比
营收规模更大
GEL
是对方的1.3倍
$332.9M
营收增速更快
GEL
高出2.9%
7.5%
净利率更高
KGS
高出2.9%
4.5%
自由现金流更多
KGS
多$55.0M
$87.0M
两年增速更快
KGS
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $440.8M | $332.9M |
| 净利润 | $19.9M | $24.6M |
| 毛利率 | — | — |
| 营业利润率 | 20.4% | 26.1% |
| 净利率 | 4.5% | 7.4% |
| 营收同比 | 10.5% | 7.5% |
| 净利润同比 | 140.2% | 29.0% |
| 每股收益（稀释后） | $0.04 | $0.30 |
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GELKGS
| Q4 25 | $440.8M | $332.9M | ||
| Q3 25 | $414.0M | $322.7M | ||
| Q2 25 | $377.3M | $322.8M | ||
| Q1 25 | $398.3M | $329.6M | ||
| Q4 24 | $398.9M | $309.5M | ||
| Q3 24 | $397.3M | $324.6M | ||
| Q2 24 | $430.2M | $309.7M | ||
| Q1 24 | $434.4M | $215.5M |
净利润GELKGS
| Q4 25 | $19.9M | $24.6M | ||
| Q3 25 | $9.2M | $-14.0M | ||
| Q2 25 | $-406.0K | $39.5M | ||
| Q1 25 | $-469.1M | $30.4M | ||
| Q4 24 | $-49.4M | $19.1M | ||
| Q3 24 | $-17.2M | $-5.6M | ||
| Q2 24 | $-8.7M | $6.2M | ||
| Q1 24 | $11.4M | $30.2M |
毛利率GELKGS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 37.5% | ||
| Q2 24 | — | 36.5% | ||
| Q1 24 | — | 39.4% |
营业利润率GELKGS
| Q4 25 | 20.4% | 26.1% | ||
| Q3 25 | 19.0% | 19.9% | ||
| Q2 25 | 17.9% | 30.9% | ||
| Q1 25 | 5.5% | 27.1% | ||
| Q4 24 | 3.4% | 22.3% | ||
| Q3 24 | 12.2% | 20.4% | ||
| Q2 24 | 11.6% | 17.5% | ||
| Q1 24 | 13.4% | 27.9% |
净利率GELKGS
| Q4 25 | 4.5% | 7.4% | ||
| Q3 25 | 2.2% | -4.3% | ||
| Q2 25 | -0.1% | 12.2% | ||
| Q1 25 | -117.8% | 9.2% | ||
| Q4 24 | -12.4% | 6.2% | ||
| Q3 24 | -4.3% | -1.7% | ||
| Q2 24 | -2.0% | 2.0% | ||
| Q1 24 | 2.6% | 14.0% |
每股收益（稀释后）GELKGS
| Q4 25 | $0.04 | $0.30 | ||
| Q3 25 | $-0.05 | $-0.17 | ||
| Q2 25 | $-0.12 | $0.43 | ||
| Q1 25 | $-4.06 | $0.33 | ||
| Q4 24 | $-0.58 | $0.18 | ||
| Q3 24 | $-0.32 | $-0.07 | ||
| Q2 24 | $-0.25 | $0.06 | ||
| Q1 24 | $-0.09 | $0.39 |
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 | $6.4M | $3.2M |
| 总债务越低越好 | $3.0B | $2.6B |
| 股东权益账面价值 | — | $1.2B |
| 总资产 | $4.9B | $4.3B |
| 负债/权益比越低杠杆越低 | — | 2.12× |
8季度趋势，按日历期对齐
现金及短期投资GELKGS
| Q4 25 | $6.4M | $3.2M | ||
| Q3 25 | $4.9M | $724.0K | ||
| Q2 25 | $4.5M | $5.4M | ||
| Q1 25 | $377.4M | $1.9M | ||
| Q4 24 | $7.4M | $4.8M | ||
| Q3 24 | $13.0M | $7.4M | ||
| Q2 24 | $13.7M | $3.9M | ||
| Q1 24 | $7.0M | $9.3M |
总债务GELKGS
| Q4 25 | $3.0B | $2.6B | ||
| Q3 25 | $3.1B | $2.6B | ||
| Q2 25 | $3.1B | $2.5B | ||
| Q1 25 | $3.4B | $2.6B | ||
| Q4 24 | $3.7B | $2.6B | ||
| Q3 24 | $4.0B | $2.6B | ||
| Q2 24 | $3.9B | $2.5B | ||
| Q1 24 | $3.8B | — |
股东权益GELKGS
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.1B |
总资产GELKGS
| Q4 25 | $4.9B | $4.3B | ||
| Q3 25 | $4.9B | $4.4B | ||
| Q2 25 | $4.8B | $4.4B | ||
| Q1 25 | $5.2B | $4.4B | ||
| Q4 24 | $7.0B | $4.4B | ||
| Q3 24 | $7.1B | $4.5B | ||
| Q2 24 | $7.0B | $4.4B | ||
| Q1 24 | $6.9B | $3.3B |
负债/权益比GELKGS
| Q4 25 | — | 2.12× | ||
| Q3 25 | — | 2.08× | ||
| Q2 25 | — | 1.89× | ||
| Q1 25 | — | 1.91× | ||
| Q4 24 | — | 1.88× | ||
| Q3 24 | — | 1.86× | ||
| Q2 24 | — | 1.71× | ||
| Q1 24 | — | — |
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 | $110.8M | $194.9M |
| 自由现金流经营现金流 - 资本支出 | $87.0M | $142.0M |
| 自由现金流率自由现金流/营收 | 19.7% | 42.7% |
| 资本支出强度资本支出/营收 | 5.4% | 15.9% |
| 现金转化率经营现金流/净利润 | 5.58× | 7.91× |
| 过去12个月自由现金流最近4个季度 | $65.9M | $284.3M |
8季度趋势，按日历期对齐
经营现金流GELKGS
| Q4 25 | $110.8M | $194.9M | ||
| Q3 25 | $70.3M | $113.4M | ||
| Q2 25 | $47.0M | $177.2M | ||
| Q1 25 | $24.8M | $114.3M | ||
| Q4 24 | $74.0M | $118.5M | ||
| Q3 24 | $87.3M | $36.9M | ||
| Q2 24 | $104.7M | $121.1M | ||
| Q1 24 | $125.9M | $51.5M |
自由现金流GELKGS
| Q4 25 | $87.0M | $142.0M | ||
| Q3 25 | $43.3M | $10.9M | ||
| Q2 25 | $-7.6M | $94.6M | ||
| Q1 25 | $-56.8M | $36.8M | ||
| Q4 24 | $-47.1M | $45.2M | ||
| Q3 24 | $-32.3M | $-49.7M | ||
| Q2 24 | $-67.5M | $4.0M | ||
| Q1 24 | $-48.3M | $-8.6M |
自由现金流率GELKGS
| Q4 25 | 19.7% | 42.7% | ||
| Q3 25 | 10.5% | 3.4% | ||
| Q2 25 | -2.0% | 29.3% | ||
| Q1 25 | -14.3% | 11.2% | ||
| Q4 24 | -11.8% | 14.6% | ||
| Q3 24 | -8.1% | -15.3% | ||
| Q2 24 | -15.7% | 1.3% | ||
| Q1 24 | -11.1% | -4.0% |
资本支出强度GELKGS
| Q4 25 | 5.4% | 15.9% | ||
| Q3 25 | 6.5% | 31.7% | ||
| Q2 25 | 14.5% | 25.6% | ||
| Q1 25 | 20.5% | 23.5% | ||
| Q4 24 | 30.3% | 23.7% | ||
| Q3 24 | 30.1% | 26.7% | ||
| Q2 24 | 40.0% | 37.8% | ||
| Q1 24 | 40.1% | 27.9% |
现金转化率GELKGS
| Q4 25 | 5.58× | 7.91× | ||
| Q3 25 | 7.63× | — | ||
| Q2 25 | — | 4.49× | ||
| Q1 25 | — | 3.76× | ||
| Q4 24 | — | 6.21× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 19.44× | ||
| Q1 24 | 11.09× | 1.70× |
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
GEL
| Onshore Facilities And Transportation Revenue | $204.2M | 46% |
| Offshore Pipeline Transportation Revenue | $154.3M | 35% |
| Marine Transportation Revenue | $82.2M | 19% |
KGS
| Other Services | $126.8M | 38% |
| Other | $112.2M | 34% |
| Transferred At Point In Time | $93.8M | 28% |
