vs
GLOBAL PARTNERS LP（GLP）与J.B. Hunt（JBHT）财务数据对比。点击上方公司名可切换其他公司
J.B. Hunt的季度营收约是GLOBAL PARTNERS LP的1.4倍（$3.1B vs $2.2B），J.B. Hunt净利率更高（5.8% vs 1.1%，领先4.7%），GLOBAL PARTNERS LP同比增速更快（7.0% vs -1.6%），J.B. Hunt自由现金流更多（$251.3M vs $62.2M），过去两年J.B. Hunt的营收复合增速更高（2.6% vs 0.2%）
Global Partners LP是一家美国能源供应企业，2018年位列《财富》世界500强第361位，采用业主有限合伙制架构，核心业务为石油产品进口，深耕北美市场开展营销活动，批发的产品涵盖原油、柴油、汽油、取暖油及煤油等品类。
J.B.亨特运输服务公司是总部位于美国阿肯色州洛厄尔的运输物流企业，1961年8月10日由约翰尼·布莱恩·亨特与乔内尔·亨特在阿肯色州创立。截至1983年，公司已成为美国第80大卡车运输企业，营收达6.2347亿美元，当时运营550台牵引车、1049辆挂车，拥有约1050名员工。
GLP vs JBHT — 直观对比
营收规模更大
JBHT
是对方的1.4倍
$2.2B
营收增速更快
GLP
高出8.6%
-1.6%
净利率更高
JBHT
高出4.7%
1.1%
自由现金流更多
JBHT
多$189.0M
$62.2M
两年增速更快
JBHT
近两年复合增速
0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $3.1B |
| 净利润 | $25.1M | $181.1M |
| 毛利率 | 11.9% | — |
| 营业利润率 | 2.6% | 8.0% |
| 净利率 | 1.1% | 5.8% |
| 营收同比 | 7.0% | -1.6% |
| 净利润同比 | 5.0% | 16.5% |
| 每股收益（稀释后） | — | $1.88 |
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GLPJBHT
| Q4 25 | $2.2B | $3.1B | ||
| Q3 25 | $2.2B | $3.1B | ||
| Q2 25 | $2.1B | $2.9B | ||
| Q1 25 | $2.2B | $2.9B | ||
| Q4 24 | $2.1B | $3.1B | ||
| Q3 24 | $2.1B | $3.1B | ||
| Q2 24 | $2.3B | $2.9B | ||
| Q1 24 | $2.2B | $2.9B |
净利润GLPJBHT
| Q4 25 | $25.1M | $181.1M | ||
| Q3 25 | $29.0M | $170.8M | ||
| Q2 25 | $25.2M | $128.6M | ||
| Q1 25 | $18.7M | $117.7M | ||
| Q4 24 | $23.9M | $155.5M | ||
| Q3 24 | $45.9M | $152.1M | ||
| Q2 24 | $46.1M | $135.9M | ||
| Q1 24 | $-5.6M | $127.5M |
毛利率GLPJBHT
| Q4 25 | 11.9% | — | ||
| Q3 25 | 12.1% | — | ||
| Q2 25 | 13.1% | — | ||
| Q1 25 | 11.7% | — | ||
| Q4 24 | 13.0% | — | ||
| Q3 24 | 13.4% | — | ||
| Q2 24 | 12.6% | — | ||
| Q1 24 | 9.8% | — |
营业利润率GLPJBHT
| Q4 25 | 2.6% | 8.0% | ||
| Q3 25 | 2.7% | 7.9% | ||
| Q2 25 | 2.9% | 6.7% | ||
| Q1 25 | 2.6% | 6.1% | ||
| Q4 24 | 2.8% | 6.6% | ||
| Q3 24 | 3.9% | 7.3% | ||
| Q2 24 | 3.7% | 7.0% | ||
| Q1 24 | 1.2% | 6.6% |
净利率GLPJBHT
| Q4 25 | 1.1% | 5.8% | ||
| Q3 25 | 1.3% | 5.6% | ||
| Q2 25 | 1.2% | 4.4% | ||
| Q1 25 | 0.9% | 4.0% | ||
| Q4 24 | 1.2% | 4.9% | ||
| Q3 24 | 2.1% | 5.0% | ||
| Q2 24 | 2.0% | 4.6% | ||
| Q1 24 | -0.3% | 4.3% |
每股收益（稀释后）GLPJBHT
| Q4 25 | — | $1.88 | ||
| Q3 25 | — | $1.76 | ||
| Q2 25 | — | $1.31 | ||
| Q1 25 | — | $1.17 | ||
| Q4 24 | — | $1.53 | ||
| Q3 24 | — | $1.49 | ||
| Q2 24 | — | $1.32 | ||
| Q1 24 | — | $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 | — | $17.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $3.6B |
| 总资产 | $3.9B | $7.9B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资GLPJBHT
| Q4 25 | — | $17.3M | ||
| Q3 25 | — | $52.3M | ||
| Q2 25 | — | $50.9M | ||
| Q1 25 | — | $43.4M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | — | $120.0M | ||
| Q2 24 | — | $53.5M | ||
| Q1 24 | — | $64.2M |
总债务GLPJBHT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $977.7M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.4B |
股东权益GLPJBHT
| Q4 25 | — | $3.6B | ||
| Q3 25 | — | $3.6B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.9B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.1B | ||
| Q1 24 | — | $4.2B |
总资产GLPJBHT
| Q4 25 | $3.9B | $7.9B | ||
| Q3 25 | $3.7B | $8.1B | ||
| Q2 25 | $3.8B | $8.2B | ||
| Q1 25 | $3.8B | $8.3B | ||
| Q4 24 | $3.8B | $8.3B | ||
| Q3 24 | $3.7B | $8.3B | ||
| Q2 24 | $3.8B | $8.4B | ||
| Q1 24 | $3.5B | $8.4B |
负债/权益比GLPJBHT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.24× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.36× | ||
| Q1 24 | — | 0.33× |
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 | $101.0M | $385.6M |
| 自由现金流经营现金流 - 资本支出 | $62.2M | $251.3M |
| 自由现金流率自由现金流/营收 | 2.8% | 8.1% |
| 资本支出强度资本支出/营收 | 1.8% | 4.3% |
| 现金转化率经营现金流/净利润 | 4.03× | 2.13× |
| 过去12个月自由现金流最近4个季度 | $193.3M | $947.6M |
8季度趋势，按日历期对齐
经营现金流GLPJBHT
| Q4 25 | $101.0M | $385.6M | ||
| Q3 25 | $19.0M | $486.4M | ||
| Q2 25 | $216.3M | $402.1M | ||
| Q1 25 | $-51.6M | $404.2M | ||
| Q4 24 | $67.2M | $317.6M | ||
| Q3 24 | $122.7M | $338.5M | ||
| Q2 24 | $24.3M | $360.6M | ||
| Q1 24 | $-182.7M | $466.5M |
自由现金流GLPJBHT
| Q4 25 | $62.2M | $251.3M | ||
| Q3 25 | $-678.0K | $352.4M | ||
| Q2 25 | $201.3M | $185.6M | ||
| Q1 25 | $-69.5M | $158.4M | ||
| Q4 24 | $20.4M | $93.3M | ||
| Q3 24 | $98.4M | $163.1M | ||
| Q2 24 | $8.7M | $98.2M | ||
| Q1 24 | $-199.3M | $263.1M |
自由现金流率GLPJBHT
| Q4 25 | 2.8% | 8.1% | ||
| Q3 25 | -0.0% | 11.5% | ||
| Q2 25 | 9.7% | 6.3% | ||
| Q1 25 | -3.2% | 5.4% | ||
| Q4 24 | 1.0% | 3.0% | ||
| Q3 24 | 4.6% | 5.3% | ||
| Q2 24 | 0.4% | 3.4% | ||
| Q1 24 | -9.0% | 8.9% |
资本支出强度GLPJBHT
| Q4 25 | 1.8% | 4.3% | ||
| Q3 25 | 0.9% | 4.4% | ||
| Q2 25 | 0.7% | 7.4% | ||
| Q1 25 | 0.8% | 8.4% | ||
| Q4 24 | 2.3% | 7.1% | ||
| Q3 24 | 1.1% | 5.7% | ||
| Q2 24 | 0.7% | 9.0% | ||
| Q1 24 | 0.8% | 6.9% |
现金转化率GLPJBHT
| Q4 25 | 4.03× | 2.13× | ||
| Q3 25 | 0.66× | 2.85× | ||
| Q2 25 | 8.58× | 3.13× | ||
| Q1 25 | -2.76× | 3.43× | ||
| Q4 24 | 2.82× | 2.04× | ||
| Q3 24 | 2.67× | 2.23× | ||
| Q2 24 | 0.53× | 2.65× | ||
| Q1 24 | — | 3.66× |
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
GLP
| Gasoline | $1.0B | 46% |
| Refined Petroleum Products Renewable Fuels Crude Oil And Propane | $884.7M | 40% |
| Commercial Segment | $187.6M | 8% |
| Station Operations | $110.5M | 5% |
JBHT
| JBI | $1.5B | 50% |
| DCS | $842.8M | 27% |
| ICS | $304.5M | 10% |
| FMS | $206.3M | 7% |
| JBT | $200.7M | 6% |
