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GLOBAL PARTNERS LP（GLP）与罗技（LOGI）财务数据对比。点击上方公司名可切换其他公司
GLOBAL PARTNERS LP的季度营收约是罗技的1.6倍（$2.2B vs $1.4B），罗技净利率更高（17.7% vs 1.1%，领先16.5%），GLOBAL PARTNERS LP同比增速更快（7.0% vs 6.1%），罗技自由现金流更多（$465.6M vs $62.2M），过去两年罗技的营收复合增速更高（18.5% 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。
罗技国际是总部位于瑞士洛桑的跨国企业，专注于计算机外设及相关软件的研发与生产，在欧洲、亚洲、大洋洲、美洲均设有分支机构，为瑞士市场指数成分股，同时在纳斯达克交易所挂牌上市。
GLP vs LOGI — 直观对比
营收规模更大
GLP
是对方的1.6倍
$1.4B
营收增速更快
GLP
高出0.9%
6.1%
净利率更高
LOGI
高出16.5%
1.1%
自由现金流更多
LOGI
多$403.4M
$62.2M
两年增速更快
LOGI
近两年复合增速
0.2%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $1.4B |
| 净利润 | $25.1M | $251.0M |
| 毛利率 | 11.9% | 43.2% |
| 营业利润率 | 2.6% | 20.1% |
| 净利率 | 1.1% | 17.7% |
| 营收同比 | 7.0% | 6.1% |
| 净利润同比 | 5.0% | 25.4% |
| 每股收益（稀释后） | — | $1.69 |
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GLPLOGI
| Q4 25 | $2.2B | $1.4B | ||
| Q3 25 | $2.2B | $1.2B | ||
| Q2 25 | $2.1B | $1.1B | ||
| Q1 25 | $2.2B | $1.0B | ||
| Q4 24 | $2.1B | $1.3B | ||
| Q3 24 | $2.1B | $1.1B | ||
| Q2 24 | $2.3B | $1.1B | ||
| Q1 24 | $2.2B | $1.0B |
净利润GLPLOGI
| Q4 25 | $25.1M | $251.0M | ||
| Q3 25 | $29.0M | $170.7M | ||
| Q2 25 | $25.2M | $146.0M | ||
| Q1 25 | $18.7M | $144.1M | ||
| Q4 24 | $23.9M | $200.1M | ||
| Q3 24 | $45.9M | $145.5M | ||
| Q2 24 | $46.1M | $141.8M | ||
| Q1 24 | $-5.6M | $167.6M |
毛利率GLPLOGI
| Q4 25 | 11.9% | 43.2% | ||
| Q3 25 | 12.1% | 43.4% | ||
| Q2 25 | 13.1% | 41.7% | ||
| Q1 25 | 11.7% | 43.1% | ||
| Q4 24 | 13.0% | 42.9% | ||
| Q3 24 | 13.4% | 43.6% | ||
| Q2 24 | 12.6% | 42.8% | ||
| Q1 24 | 9.8% | 43.2% |
营业利润率GLPLOGI
| Q4 25 | 2.6% | 20.1% | ||
| Q3 25 | 2.7% | 16.1% | ||
| Q2 25 | 2.9% | 14.1% | ||
| Q1 25 | 2.6% | 10.5% | ||
| Q4 24 | 2.8% | 17.5% | ||
| Q3 24 | 3.9% | 14.4% | ||
| Q2 24 | 3.7% | 14.1% | ||
| Q1 24 | 1.2% | 12.9% |
净利率GLPLOGI
| Q4 25 | 1.1% | 17.7% | ||
| Q3 25 | 1.3% | 14.4% | ||
| Q2 25 | 1.2% | 12.7% | ||
| Q1 25 | 0.9% | 14.3% | ||
| Q4 24 | 1.2% | 14.9% | ||
| Q3 24 | 2.1% | 13.0% | ||
| Q2 24 | 2.0% | 13.0% | ||
| Q1 24 | -0.3% | 16.6% |
每股收益（稀释后）GLPLOGI
| Q4 25 | — | $1.69 | ||
| Q3 25 | — | $1.15 | ||
| Q2 25 | — | $0.98 | ||
| Q1 25 | — | $0.94 | ||
| Q4 24 | — | $1.32 | ||
| Q3 24 | — | $0.95 | ||
| Q2 24 | — | $0.92 | ||
| Q1 24 | — | $1.07 |
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 | — | $1.8B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $2.3B |
| 总资产 | $3.9B | $4.1B |
| 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GLPLOGI
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.5B |
股东权益GLPLOGI
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.2B |
总资产GLPLOGI
| Q4 25 | $3.9B | $4.1B | ||
| Q3 25 | $3.7B | $3.7B | ||
| Q2 25 | $3.8B | $3.7B | ||
| Q1 25 | $3.8B | $3.5B | ||
| Q4 24 | $3.8B | $3.7B | ||
| Q3 24 | $3.7B | $3.6B | ||
| Q2 24 | $3.8B | $3.7B | ||
| Q1 24 | $3.5B | $3.6B |
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 | $480.5M |
| 自由现金流经营现金流 - 资本支出 | $62.2M | $465.6M |
| 自由现金流率自由现金流/营收 | 2.8% | 32.8% |
| 资本支出强度资本支出/营收 | 1.8% | 1.0% |
| 现金转化率经营现金流/净利润 | 4.03× | 1.91× |
| 过去12个月自由现金流最近4个季度 | $193.3M | $903.6M |
8季度趋势，按日历期对齐
经营现金流GLPLOGI
| Q4 25 | $101.0M | $480.5M | ||
| Q3 25 | $19.0M | $228.8M | ||
| Q2 25 | $216.3M | $125.0M | ||
| Q1 25 | $-51.6M | $129.7M | ||
| Q4 24 | $67.2M | $370.9M | ||
| Q3 24 | $122.7M | $166.0M | ||
| Q2 24 | $24.3M | $176.0M | ||
| Q1 24 | $-182.7M | $239.1M |
自由现金流GLPLOGI
| Q4 25 | $62.2M | $465.6M | ||
| Q3 25 | $-678.0K | $212.3M | ||
| Q2 25 | $201.3M | $108.8M | ||
| Q1 25 | $-69.5M | $116.9M | ||
| Q4 24 | $20.4M | $356.6M | ||
| Q3 24 | $98.4M | $151.5M | ||
| Q2 24 | $8.7M | $161.4M | ||
| Q1 24 | $-199.3M | $228.8M |
自由现金流率GLPLOGI
| Q4 25 | 2.8% | 32.8% | ||
| Q3 25 | -0.0% | 17.9% | ||
| Q2 25 | 9.7% | 9.5% | ||
| Q1 25 | -3.2% | 11.6% | ||
| Q4 24 | 1.0% | 26.6% | ||
| Q3 24 | 4.6% | 13.6% | ||
| Q2 24 | 0.4% | 14.8% | ||
| Q1 24 | -9.0% | 22.6% |
资本支出强度GLPLOGI
| Q4 25 | 1.8% | 1.0% | ||
| Q3 25 | 0.9% | 1.4% | ||
| Q2 25 | 0.7% | 1.4% | ||
| Q1 25 | 0.8% | 1.3% | ||
| Q4 24 | 2.3% | 1.1% | ||
| Q3 24 | 1.1% | 1.3% | ||
| Q2 24 | 0.7% | 1.3% | ||
| Q1 24 | 0.8% | 1.0% |
现金转化率GLPLOGI
| Q4 25 | 4.03× | 1.91× | ||
| Q3 25 | 0.66× | 1.34× | ||
| Q2 25 | 8.58× | 0.86× | ||
| Q1 25 | -2.76× | 0.90× | ||
| Q4 24 | 2.82× | 1.85× | ||
| Q3 24 | 2.67× | 1.14× | ||
| Q2 24 | 0.53× | 1.24× | ||
| Q1 24 | — | 1.43× |
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% |
LOGI
| Retail Gaming | $482.7M | 34% |
| Retail Keyboards Desktops | $254.6M | 18% |
| Retail Pointing Devices | $241.2M | 17% |
| Retail Video Collaboration | $193.3M | 14% |
| Retail Tablet And Other Accessories | $93.6M | 7% |
| Retail Webcams | $82.3M | 6% |
| Retail Headsets | $45.9M | 3% |
| Other Retail Products | $28.0M | 2% |
