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GENESIS ENERGY LP（GEL）与Sinclair, Inc.（SBGI）财务数据对比。点击上方公司名可切换其他公司
Sinclair, Inc.的季度营收约是GENESIS ENERGY LP的1.9倍（$836.0M vs $440.8M），Sinclair, Inc.净利率更高（13.0% vs 4.5%，领先8.5%），GENESIS ENERGY LP同比增速更快（10.5% vs -16.7%），GENESIS ENERGY LP自由现金流更多（$87.0M vs $79.0M），过去两年Sinclair, Inc.的营收复合增速更高（2.4% 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。
辛克莱公司（以辛克莱广播集团开展业务）是一家上市的美国电信综合企业，由创始人朱利安·辛克莱·史密斯的后代控股。公司总部位于马里兰州巴尔的摩郊县科基斯维尔，按电视台数量计算是美国第二大电视台运营商，仅次于奈克斯达媒体集团，在全国100多个市场拥有或运营193家电视台，覆盖美国40%的区域。
GEL vs SBGI — 直观对比
营收规模更大
SBGI
是对方的1.9倍
$440.8M
营收增速更快
GEL
高出27.2%
-16.7%
净利率更高
SBGI
高出8.5%
4.5%
自由现金流更多
GEL
多$8.0M
$79.0M
两年增速更快
SBGI
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $440.8M | $836.0M |
| 净利润 | $19.9M | $109.0M |
| 毛利率 | — | — |
| 营业利润率 | 20.4% | 9.6% |
| 净利率 | 4.5% | 13.0% |
| 营收同比 | 10.5% | -16.7% |
| 净利润同比 | 140.2% | -38.1% |
| 每股收益（稀释后） | $0.04 | $1.62 |
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GELSBGI
| Q4 25 | $440.8M | $836.0M | ||
| Q3 25 | $414.0M | $773.0M | ||
| Q2 25 | $377.3M | $784.0M | ||
| Q1 25 | $398.3M | $776.0M | ||
| Q4 24 | $398.9M | $1.0B | ||
| Q3 24 | $397.3M | $917.0M | ||
| Q2 24 | $430.2M | $829.0M | ||
| Q1 24 | $434.4M | $798.0M |
净利润GELSBGI
| Q4 25 | $19.9M | $109.0M | ||
| Q3 25 | $9.2M | $-1.0M | ||
| Q2 25 | $-406.0K | $-64.0M | ||
| Q1 25 | $-469.1M | $-156.0M | ||
| Q4 24 | $-49.4M | $176.0M | ||
| Q3 24 | $-17.2M | $94.0M | ||
| Q2 24 | $-8.7M | $17.0M | ||
| Q1 24 | $11.4M | $23.0M |
营业利润率GELSBGI
| Q4 25 | 20.4% | 9.6% | ||
| Q3 25 | 19.0% | 7.5% | ||
| Q2 25 | 17.9% | 2.7% | ||
| Q1 25 | 5.5% | 1.8% | ||
| Q4 24 | 3.4% | 26.5% | ||
| Q3 24 | 12.2% | 19.5% | ||
| Q2 24 | 11.6% | 7.7% | ||
| Q1 24 | 13.4% | 5.3% |
净利率GELSBGI
| Q4 25 | 4.5% | 13.0% | ||
| Q3 25 | 2.2% | -0.1% | ||
| Q2 25 | -0.1% | -8.2% | ||
| Q1 25 | -117.8% | -20.1% | ||
| Q4 24 | -12.4% | 17.5% | ||
| Q3 24 | -4.3% | 10.3% | ||
| Q2 24 | -2.0% | 2.1% | ||
| Q1 24 | 2.6% | 2.9% |
每股收益（稀释后）GELSBGI
| Q4 25 | $0.04 | $1.62 | ||
| Q3 25 | $-0.05 | $-0.02 | ||
| Q2 25 | $-0.12 | $-0.91 | ||
| Q1 25 | $-4.06 | $-2.30 | ||
| Q4 24 | $-0.58 | $2.64 | ||
| Q3 24 | $-0.32 | $1.43 | ||
| Q2 24 | $-0.25 | $0.27 | ||
| Q1 24 | $-0.09 | $0.35 |
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 | $6.4M | $866.0M |
| 总债务越低越好 | $3.0B | $4.4B |
| 股东权益账面价值 | — | $443.0M |
| 总资产 | $4.9B | $5.9B |
| 负债/权益比越低杠杆越低 | — | 9.84× |
8季度趋势，按日历期对齐
现金及短期投资GELSBGI
| Q4 25 | $6.4M | $866.0M | ||
| Q3 25 | $4.9M | $526.0M | ||
| Q2 25 | $4.5M | $616.0M | ||
| Q1 25 | $377.4M | $631.0M | ||
| Q4 24 | $7.4M | $697.0M | ||
| Q3 24 | $13.0M | $536.0M | ||
| Q2 24 | $13.7M | $378.0M | ||
| Q1 24 | $7.0M | $655.0M |
总债务GELSBGI
| Q4 25 | $3.0B | $4.4B | ||
| Q3 25 | $3.1B | $4.1B | ||
| Q2 25 | $3.1B | $4.1B | ||
| Q1 25 | $3.4B | $4.2B | ||
| Q4 24 | $3.7B | $4.1B | ||
| Q3 24 | $4.0B | $4.1B | ||
| Q2 24 | $3.9B | $4.1B | ||
| Q1 24 | $3.8B | $4.1B |
股东权益GELSBGI
| Q4 25 | — | $443.0M | ||
| Q3 25 | — | $347.0M | ||
| Q2 25 | — | $361.0M | ||
| Q1 25 | — | $436.0M | ||
| Q4 24 | — | $583.0M | ||
| Q3 24 | — | $415.0M | ||
| Q2 24 | — | $340.0M | ||
| Q1 24 | — | $333.0M |
总资产GELSBGI
| Q4 25 | $4.9B | $5.9B | ||
| Q3 25 | $4.9B | $5.6B | ||
| Q2 25 | $4.8B | $5.7B | ||
| Q1 25 | $5.2B | $5.8B | ||
| Q4 24 | $7.0B | $5.9B | ||
| Q3 24 | $7.1B | $5.8B | ||
| Q2 24 | $7.0B | $5.7B | ||
| Q1 24 | $6.9B | $6.0B |
负债/权益比GELSBGI
| Q4 25 | — | 9.84× | ||
| Q3 25 | — | 11.75× | ||
| Q2 25 | — | 11.30× | ||
| Q1 25 | — | 9.56× | ||
| Q4 24 | — | 7.02× | ||
| Q3 24 | — | 9.86× | ||
| Q2 24 | — | 12.08× | ||
| Q1 24 | — | 12.35× |
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 | $98.0M |
| 自由现金流经营现金流 - 资本支出 | $87.0M | $79.0M |
| 自由现金流率自由现金流/营收 | 19.7% | 9.4% |
| 资本支出强度资本支出/营收 | 5.4% | 2.3% |
| 现金转化率经营现金流/净利润 | 5.58× | 0.90× |
| 过去12个月自由现金流最近4个季度 | $65.9M | $115.0M |
8季度趋势，按日历期对齐
经营现金流GELSBGI
| Q4 25 | $110.8M | $98.0M | ||
| Q3 25 | $70.3M | $-36.0M | ||
| Q2 25 | $47.0M | $122.0M | ||
| Q1 25 | $24.8M | $5.0M | ||
| Q4 24 | $74.0M | $198.0M | ||
| Q3 24 | $87.3M | $210.0M | ||
| Q2 24 | $104.7M | $-306.0M | ||
| Q1 24 | $125.9M | $-4.0M |
自由现金流GELSBGI
| Q4 25 | $87.0M | $79.0M | ||
| Q3 25 | $43.3M | $-58.0M | ||
| Q2 25 | $-7.6M | $105.0M | ||
| Q1 25 | $-56.8M | $-11.0M | ||
| Q4 24 | $-47.1M | $175.0M | ||
| Q3 24 | $-32.3M | $193.0M | ||
| Q2 24 | $-67.5M | $-329.0M | ||
| Q1 24 | $-48.3M | $-25.0M |
自由现金流率GELSBGI
| Q4 25 | 19.7% | 9.4% | ||
| Q3 25 | 10.5% | -7.5% | ||
| Q2 25 | -2.0% | 13.4% | ||
| Q1 25 | -14.3% | -1.4% | ||
| Q4 24 | -11.8% | 17.4% | ||
| Q3 24 | -8.1% | 21.0% | ||
| Q2 24 | -15.7% | -39.7% | ||
| Q1 24 | -11.1% | -3.1% |
资本支出强度GELSBGI
| Q4 25 | 5.4% | 2.3% | ||
| Q3 25 | 6.5% | 2.8% | ||
| Q2 25 | 14.5% | 2.2% | ||
| Q1 25 | 20.5% | 2.1% | ||
| Q4 24 | 30.3% | 2.3% | ||
| Q3 24 | 30.1% | 1.9% | ||
| Q2 24 | 40.0% | 2.8% | ||
| Q1 24 | 40.1% | 2.6% |
现金转化率GELSBGI
| Q4 25 | 5.58× | 0.90× | ||
| Q3 25 | 7.63× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.13× | ||
| Q3 24 | — | 2.23× | ||
| Q2 24 | — | -18.00× | ||
| Q1 24 | 11.09× | -0.17× |
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% |
SBGI
| Distribution Revenue | $384.0M | 46% |
| Core Advertising Revenue | $312.0M | 37% |
| Tennis Segment | $62.0M | 7% |
| Other | $40.0M | 5% |
| Other Media Non Media Revenuesand Intercompany Revenues | $24.0M | 3% |
| Political Advertising Revenue | $14.0M | 2% |
