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GLOBAL PARTNERS LP（GLP）与RYDER SYSTEM INC（R）财务数据对比。点击上方公司名可切换其他公司
RYDER SYSTEM INC的季度营收约是GLOBAL PARTNERS LP的1.4倍（$3.1B vs $2.2B），RYDER SYSTEM INC净利率更高（3.0% vs 1.1%，领先1.8%），GLOBAL PARTNERS LP同比增速更快（7.0% vs 1.0%），RYDER SYSTEM INC自由现金流更多（$273.0M vs $62.2M），过去两年GLOBAL PARTNERS LP的营收复合增速更高（0.2% vs -0.9%）
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。
Ryder System Inc.是美国专业运输物流服务商，总部位于佛罗里达州科勒尔盖布尔斯，业务覆盖美国及英国，核心业务包含卡车租赁、车队管理、供应链及运输管理，同时提供车辆维保、二手车销售、专业司机派遣、电商履约与最后一公里配送等多元服务。
GLP vs R — 直观对比
营收规模更大
R
是对方的1.4倍
$2.2B
营收增速更快
GLP
高出6.0%
1.0%
净利率更高
R
高出1.8%
1.1%
自由现金流更多
R
多$210.8M
$62.2M
两年增速更快
GLP
近两年复合增速
-0.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $3.1B |
| 净利润 | $25.1M | $93.0M |
| 毛利率 | 11.9% | — |
| 营业利润率 | 2.6% | — |
| 净利率 | 1.1% | 3.0% |
| 营收同比 | 7.0% | 1.0% |
| 净利润同比 | 5.0% | -5.1% |
| 每股收益（稀释后） | — | $2.34 |
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GLPR
| Q1 26 | — | $3.1B | ||
| Q4 25 | $2.2B | $3.2B | ||
| Q3 25 | $2.2B | $3.2B | ||
| Q2 25 | $2.1B | $3.2B | ||
| Q1 25 | $2.2B | $3.1B | ||
| Q4 24 | $2.1B | $3.2B | ||
| Q3 24 | $2.1B | $3.2B | ||
| Q2 24 | $2.3B | $3.2B |
净利润GLPR
| Q1 26 | — | $93.0M | ||
| Q4 25 | $25.1M | $132.0M | ||
| Q3 25 | $29.0M | $138.0M | ||
| Q2 25 | $25.2M | $131.0M | ||
| Q1 25 | $18.7M | $98.0M | ||
| Q4 24 | $23.9M | $135.0M | ||
| Q3 24 | $45.9M | $142.0M | ||
| Q2 24 | $46.1M | $127.0M |
毛利率GLPR
| Q1 26 | — | — | ||
| 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% | — |
营业利润率GLPR
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 5.6% | ||
| Q3 25 | 2.7% | 6.0% | ||
| Q2 25 | 2.9% | 5.8% | ||
| Q1 25 | 2.6% | 4.3% | ||
| Q4 24 | 2.8% | 5.7% | ||
| Q3 24 | 3.9% | 5.9% | ||
| Q2 24 | 3.7% | 5.6% |
净利率GLPR
| Q1 26 | — | 3.0% | ||
| Q4 25 | 1.1% | 4.2% | ||
| Q3 25 | 1.3% | 4.4% | ||
| Q2 25 | 1.2% | 4.1% | ||
| Q1 25 | 0.9% | 3.1% | ||
| Q4 24 | 1.2% | 4.2% | ||
| Q3 24 | 2.1% | 4.5% | ||
| Q2 24 | 2.0% | 4.0% |
每股收益（稀释后）GLPR
| Q1 26 | — | $2.34 | ||
| Q4 25 | — | $3.22 | ||
| Q3 25 | — | $3.32 | ||
| Q2 25 | — | $3.13 | ||
| Q1 25 | — | $2.27 | ||
| Q4 24 | — | $3.09 | ||
| Q3 24 | — | $3.24 | ||
| Q2 24 | — | $2.84 |
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 | — | $182.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $2.9B |
| 总资产 | $3.9B | — |
| 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GLPR
| Q1 26 | — | $182.0M | ||
| Q4 25 | — | $198.0M | ||
| Q3 25 | — | $189.0M | ||
| Q2 25 | — | $180.0M | ||
| Q1 25 | — | $151.0M | ||
| Q4 24 | — | $154.0M | ||
| Q3 24 | — | $162.0M | ||
| Q2 24 | — | $164.0M |
总债务GLPR
| Q1 26 | — | — | ||
| Q4 25 | — | $6.8B | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | — | $7.0B | ||
| Q1 25 | — | $6.7B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | — | $6.6B | ||
| Q2 24 | — | $6.5B |
股东权益GLPR
| Q1 26 | — | $2.9B | ||
| Q4 25 | — | $3.1B | ||
| Q3 25 | — | $3.1B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.1B |
总资产GLPR
| Q1 26 | — | — | ||
| Q4 25 | $3.9B | $16.4B | ||
| Q3 25 | $3.7B | $16.5B | ||
| Q2 25 | $3.8B | $16.5B | ||
| Q1 25 | $3.8B | $16.4B | ||
| Q4 24 | $3.8B | $16.7B | ||
| Q3 24 | $3.7B | $16.5B | ||
| Q2 24 | $3.8B | $16.4B |
负债/权益比GLPR
| Q1 26 | — | — | ||
| Q4 25 | — | 2.24× | ||
| Q3 25 | — | 2.35× | ||
| Q2 25 | — | 2.27× | ||
| Q1 25 | — | 2.21× | ||
| Q4 24 | — | 2.14× | ||
| Q3 24 | — | 2.17× | ||
| Q2 24 | — | 2.09× |
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 | $583.0M |
| 自由现金流经营现金流 - 资本支出 | $62.2M | $273.0M |
| 自由现金流率自由现金流/营收 | 2.8% | 8.7% |
| 资本支出强度资本支出/营收 | 1.8% | 13.7% |
| 现金转化率经营现金流/净利润 | 4.03× | 6.27× |
| 过去12个月自由现金流最近4个季度 | $193.3M | $595.0M |
8季度趋势，按日历期对齐
经营现金流GLPR
| Q1 26 | — | $583.0M | ||
| Q4 25 | $101.0M | $749.0M | ||
| Q3 25 | $19.0M | $442.0M | ||
| Q2 25 | $216.3M | $752.0M | ||
| Q1 25 | $-51.6M | $651.0M | ||
| Q4 24 | $67.2M | $558.0M | ||
| Q3 24 | $122.7M | $629.0M | ||
| Q2 24 | $24.3M | $552.0M |
自由现金流GLPR
| Q1 26 | — | $273.0M | ||
| Q4 25 | $62.2M | $344.0M | ||
| Q3 25 | $-678.0K | $-85.0M | ||
| Q2 25 | $201.3M | $63.0M | ||
| Q1 25 | $-69.5M | $137.0M | ||
| Q4 24 | $20.4M | $-201.0M | ||
| Q3 24 | $98.4M | $30.0M | ||
| Q2 24 | $8.7M | $-87.0M |
自由现金流率GLPR
| Q1 26 | — | 8.7% | ||
| Q4 25 | 2.8% | 10.8% | ||
| Q3 25 | -0.0% | -2.7% | ||
| Q2 25 | 9.7% | 2.0% | ||
| Q1 25 | -3.2% | 4.4% | ||
| Q4 24 | 1.0% | -6.3% | ||
| Q3 24 | 4.6% | 0.9% | ||
| Q2 24 | 0.4% | -2.7% |
资本支出强度GLPR
| Q1 26 | — | 13.7% | ||
| Q4 25 | 1.8% | 12.8% | ||
| Q3 25 | 0.9% | 16.6% | ||
| Q2 25 | 0.7% | 21.6% | ||
| Q1 25 | 0.8% | 16.4% | ||
| Q4 24 | 2.3% | 23.8% | ||
| Q3 24 | 1.1% | 18.9% | ||
| Q2 24 | 0.7% | 20.1% |
现金转化率GLPR
| Q1 26 | — | 6.27× | ||
| Q4 25 | 4.03× | 5.67× | ||
| Q3 25 | 0.66× | 3.20× | ||
| Q2 25 | 8.58× | 5.74× | ||
| Q1 25 | -2.76× | 6.64× | ||
| Q4 24 | 2.82× | 4.13× | ||
| Q3 24 | 2.67× | 4.43× | ||
| Q2 24 | 0.53× | 4.35× |
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% |
R
| Fleet Management Solutions | $1.5B | 47% |
| ChoiceLease | $878.0M | 28% |
| Dedicated Transportation Solutions | $553.0M | 18% |
| Commercial rental | $211.0M | 7% |
