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通用磨坊（GIS）与Targa Resources（TRGP）财务数据对比。点击上方公司名可切换其他公司
通用磨坊的季度营收约是Targa Resources的1.2倍（$4.9B vs $4.1B），Targa Resources净利率更高（13.4% vs 8.5%，领先4.9%），通用磨坊同比增速更快（-7.2% vs -7.9%），通用磨坊自由现金流更多（$675.7M vs $542.3M），过去两年Targa Resources的营收复合增速更高（0.8% vs -2.4%）
通用磨坊是美国知名跨国消费食品企业，主营品牌包装食品的生产与营销，产品通过零售渠道面向大众发售。公司发源于明尼阿波利斯市密西西比河畔的圣安东尼瀑布区域，最初以大型面粉加工业务闻名，现总部位于明尼阿波利斯市郊的明尼苏达州金谷市。
Targa Resources Corp.为财富500强企业，总部位于美国得克萨斯州休斯敦，是美国规模最大的中游能源基础设施企业之一，主营天然气及天然气凝液输送业务，运营资产主要集中在墨西哥湾沿岸，得克萨斯州与路易斯安那州为核心布局区域，马修·J·梅洛伊自2020年起担任首席执行官。
GIS vs TRGP — 直观对比
营收规模更大
GIS
是对方的1.2倍
$4.1B
营收增速更快
GIS
高出0.7%
-7.9%
净利率更高
TRGP
高出4.9%
8.5%
自由现金流更多
GIS
多$133.4M
$542.3M
两年增速更快
TRGP
近两年复合增速
-2.4%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.9B | $4.1B |
| 净利润 | $413.0M | $545.0M |
| 毛利率 | 34.8% | 43.1% |
| 营业利润率 | 15.0% | 22.6% |
| 净利率 | 8.5% | 13.4% |
| 营收同比 | -7.2% | -7.9% |
| 净利润同比 | -48.1% | 55.3% |
| 每股收益（稀释后） | $0.78 | $2.51 |
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GISTRGP
| Q4 25 | $4.9B | $4.1B | ||
| Q3 25 | $4.5B | $4.2B | ||
| Q2 25 | $4.6B | $4.3B | ||
| Q1 25 | $4.8B | $4.6B | ||
| Q4 24 | $5.2B | $4.4B | ||
| Q3 24 | $4.8B | $3.9B | ||
| Q2 24 | $4.7B | $3.0B | ||
| Q1 24 | $5.1B | $4.0B |
净利润GISTRGP
| Q4 25 | $413.0M | $545.0M | ||
| Q3 25 | $1.2B | $478.4M | ||
| Q2 25 | $294.0M | $629.1M | ||
| Q1 25 | $625.6M | $270.5M | ||
| Q4 24 | $795.7M | $350.9M | ||
| Q3 24 | $579.9M | $387.4M | ||
| Q2 24 | $557.5M | $298.5M | ||
| Q1 24 | $670.1M | $275.2M |
毛利率GISTRGP
| Q4 25 | 34.8% | 43.1% | ||
| Q3 25 | 33.9% | 39.6% | ||
| Q2 25 | 32.4% | 42.8% | ||
| Q1 25 | 33.9% | 28.6% | ||
| Q4 24 | 36.9% | 33.7% | ||
| Q3 24 | 34.8% | 38.6% | ||
| Q2 24 | 35.8% | 27.9% | ||
| Q1 24 | 33.5% | 19.3% |
营业利润率GISTRGP
| Q4 25 | 15.0% | 22.6% | ||
| Q3 25 | 38.2% | 20.2% | ||
| Q2 25 | 11.1% | 24.3% | ||
| Q1 25 | 18.4% | 11.9% | ||
| Q4 24 | 20.6% | 15.9% | ||
| Q3 24 | 17.2% | 18.9% | ||
| Q2 24 | 16.5% | 20.6% | ||
| Q1 24 | 17.9% | 16.0% |
净利率GISTRGP
| Q4 25 | 8.5% | 13.4% | ||
| Q3 25 | 26.7% | 11.5% | ||
| Q2 25 | 6.5% | 14.8% | ||
| Q1 25 | 12.9% | 5.9% | ||
| Q4 24 | 15.2% | 8.0% | ||
| Q3 24 | 12.0% | 10.1% | ||
| Q2 24 | 11.8% | 9.8% | ||
| Q1 24 | 13.1% | 6.9% |
每股收益（稀释后）GISTRGP
| Q4 25 | $0.78 | $2.51 | ||
| Q3 25 | $2.22 | $2.20 | ||
| Q2 25 | $0.53 | $2.87 | ||
| Q1 25 | $1.12 | $0.91 | ||
| Q4 24 | $1.42 | $1.44 | ||
| Q3 24 | $1.03 | $1.75 | ||
| Q2 24 | $0.98 | $1.33 | ||
| Q1 24 | $1.17 | $1.22 |
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 | $683.4M | $166.1M |
| 总债务越低越好 | $12.2B | $16.7B |
| 股东权益账面价值 | $9.3B | $3.1B |
| 总资产 | $32.5B | $25.2B |
| 负债/权益比越低杠杆越低 | 1.31× | 5.43× |
8季度趋势，按日历期对齐
现金及短期投资GISTRGP
| Q4 25 | $683.4M | $166.1M | ||
| Q3 25 | $952.9M | $124.1M | ||
| Q2 25 | $363.9M | $113.1M | ||
| Q1 25 | $521.3M | $151.4M | ||
| Q4 24 | $2.3B | $157.3M | ||
| Q3 24 | $468.1M | $127.2M | ||
| Q2 24 | $418.0M | $166.4M | ||
| Q1 24 | $588.6M | $109.9M |
总债务GISTRGP
| Q4 25 | $12.2B | $16.7B | ||
| Q3 25 | $12.2B | $16.7B | ||
| Q2 25 | $12.7B | $16.1B | ||
| Q1 25 | $11.8B | $15.5B | ||
| Q4 24 | $12.4B | $13.8B | ||
| Q3 24 | $11.4B | $13.6B | ||
| Q2 24 | $11.3B | $13.0B | ||
| Q1 24 | $11.0B | $12.5B |
股东权益GISTRGP
| Q4 25 | $9.3B | $3.1B | ||
| Q3 25 | $9.5B | $2.7B | ||
| Q2 25 | $9.2B | $2.6B | ||
| Q1 25 | $9.3B | $2.5B | ||
| Q4 24 | $9.2B | $2.6B | ||
| Q3 24 | $9.3B | $2.6B | ||
| Q2 24 | $9.4B | $2.5B | ||
| Q1 24 | $9.4B | $2.7B |
总资产GISTRGP
| Q4 25 | $32.5B | $25.2B | ||
| Q3 25 | $33.0B | $24.2B | ||
| Q2 25 | $33.1B | $23.5B | ||
| Q1 25 | $32.7B | $22.8B | ||
| Q4 24 | $33.4B | $22.7B | ||
| Q3 24 | $31.8B | $21.9B | ||
| Q2 24 | $31.5B | $21.3B | ||
| Q1 24 | $30.9B | $20.8B |
负债/权益比GISTRGP
| Q4 25 | 1.31× | 5.43× | ||
| Q3 25 | 1.29× | 6.19× | ||
| Q2 25 | 1.38× | 6.21× | ||
| Q1 25 | 1.28× | 6.34× | ||
| Q4 24 | 1.35× | 5.32× | ||
| Q3 24 | 1.23× | 5.28× | ||
| Q2 24 | 1.20× | 5.25× | ||
| Q1 24 | 1.17× | 4.63× |
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 | $819.3M | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $675.7M | $542.3M |
| 自由现金流率自由现金流/营收 | 13.9% | 13.4% |
| 资本支出强度资本支出/营收 | 3.0% | 23.8% |
| 现金转化率经营现金流/净利润 | 1.98× | 2.76× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $584.1M |
8季度趋势，按日历期对齐
经营现金流GISTRGP
| Q4 25 | $819.3M | $1.5B | ||
| Q3 25 | $397.0M | $599.2M | ||
| Q2 25 | $611.6M | $858.3M | ||
| Q1 25 | $531.9M | $954.4M | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $624.2M | $540.9M | ||
| Q2 24 | $863.7M | $904.5M | ||
| Q1 24 | $943.1M | $876.4M |
自由现金流GISTRGP
| Q4 25 | $675.7M | $542.3M | ||
| Q3 25 | $287.5M | $-72.6M | ||
| Q2 25 | $391.4M | $-47.8M | ||
| Q1 25 | $428.0M | $162.2M | ||
| Q4 24 | $989.6M | $601.0M | ||
| Q3 24 | $483.9M | $-287.9M | ||
| Q2 24 | $575.2M | $164.2M | ||
| Q1 24 | $751.4M | $206.6M |
自由现金流率GISTRGP
| Q4 25 | 13.9% | 13.4% | ||
| Q3 25 | 6.4% | -1.7% | ||
| Q2 25 | 8.6% | -1.1% | ||
| Q1 25 | 8.8% | 3.6% | ||
| Q4 24 | 18.9% | 13.6% | ||
| Q3 24 | 10.0% | -7.5% | ||
| Q2 24 | 12.2% | 5.4% | ||
| Q1 24 | 14.7% | 5.2% |
资本支出强度GISTRGP
| Q4 25 | 3.0% | 23.8% | ||
| Q3 25 | 2.4% | 16.2% | ||
| Q2 25 | 4.8% | 21.3% | ||
| Q1 25 | 2.1% | 17.4% | ||
| Q4 24 | 3.1% | 16.5% | ||
| Q3 24 | 2.9% | 21.5% | ||
| Q2 24 | 6.1% | 24.3% | ||
| Q1 24 | 3.8% | 16.8% |
现金转化率GISTRGP
| Q4 25 | 1.98× | 2.76× | ||
| Q3 25 | 0.33× | 1.25× | ||
| Q2 25 | 2.08× | 1.36× | ||
| Q1 25 | 0.85× | 3.53× | ||
| Q4 24 | 1.45× | 3.78× | ||
| Q3 24 | 1.08× | 1.40× | ||
| Q2 24 | 1.55× | 3.03× | ||
| Q1 24 | 1.41× | 3.18× |
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
GIS
| Snacks | $1.0B | 21% |
| Convenient Meals | $827.0M | 17% |
| Cereal | $791.2M | 16% |
| Dough | $720.9M | 15% |
| Pet | $698.7M | 14% |
| Baking Mixes And Ingredients | $556.0M | 11% |
| Super Premium Ice Cream | $175.8M | 4% |
| Other Product | $73.3M | 2% |
TRGP
| Logistics And Transportation | $3.4B | 83% |
| Natural Gas Reserves | $393.1M | 10% |
| Storage Terminaling And Export | $130.9M | 3% |
| Oil And Condensate | $112.0M | 3% |
| NGL Transportation Fractionation And Services | $64.7M | 2% |
