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GLOBAL PARTNERS LP（GLP）与Ulta Beauty（ULTA）财务数据对比。点击上方公司名可切换其他公司
Ulta Beauty的季度营收约是GLOBAL PARTNERS LP的1.3倍（$2.9B vs $2.2B），Ulta Beauty净利率更高（8.1% vs 1.1%，领先6.9%），Ulta Beauty同比增速更快（12.9% vs 7.0%），GLOBAL PARTNERS LP自由现金流更多（$62.2M vs $-81.6M），过去两年Ulta Beauty的营收复合增速更高（7.2% 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。
Ulta Beauty是美国头部美妆连锁品牌，总部位于伊利诺伊州博林布鲁克，旗下门店在售商品覆盖高低端彩妆、香水、美甲、身体护理、美发产品及美妆工具等全品类美妆个护产品，每家门店均配备对外开放的美容沙龙，为消费者提供一站式美妆消费及服务体验。
GLP vs ULTA — 直观对比
营收规模更大
ULTA
是对方的1.3倍
$2.2B
营收增速更快
ULTA
高出6.0%
7.0%
净利率更高
ULTA
高出6.9%
1.1%
自由现金流更多
GLP
多$143.9M
$-81.6M
两年增速更快
ULTA
近两年复合增速
0.2%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $2.9B |
| 净利润 | $25.1M | $230.9M |
| 毛利率 | 11.9% | 40.4% |
| 营业利润率 | 2.6% | 10.8% |
| 净利率 | 1.1% | 8.1% |
| 营收同比 | 7.0% | 12.9% |
| 净利润同比 | 5.0% | -4.7% |
| 每股收益（稀释后） | — | $5.14 |
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GLPULTA
| Q4 25 | $2.2B | $2.9B | ||
| Q3 25 | $2.2B | $2.8B | ||
| Q2 25 | $2.1B | $2.8B | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.1B | $2.5B | ||
| Q3 24 | $2.1B | $2.6B | ||
| Q2 24 | $2.3B | $2.7B | ||
| Q1 24 | $2.2B | $3.6B |
净利润GLPULTA
| Q4 25 | $25.1M | $230.9M | ||
| Q3 25 | $29.0M | $260.9M | ||
| Q2 25 | $25.2M | $305.1M | ||
| Q1 25 | $18.7M | — | ||
| Q4 24 | $23.9M | $242.2M | ||
| Q3 24 | $45.9M | $252.6M | ||
| Q2 24 | $46.1M | $313.1M | ||
| Q1 24 | $-5.6M | $394.4M |
毛利率GLPULTA
| Q4 25 | 11.9% | 40.4% | ||
| Q3 25 | 12.1% | 39.2% | ||
| Q2 25 | 13.1% | 39.1% | ||
| Q1 25 | 11.7% | — | ||
| Q4 24 | 13.0% | 39.7% | ||
| Q3 24 | 13.4% | 38.3% | ||
| Q2 24 | 12.6% | 39.2% | ||
| Q1 24 | 9.8% | 37.7% |
营业利润率GLPULTA
| Q4 25 | 2.6% | 10.8% | ||
| Q3 25 | 2.7% | 12.4% | ||
| Q2 25 | 2.9% | 14.1% | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | 2.8% | 12.6% | ||
| Q3 24 | 3.9% | 12.9% | ||
| Q2 24 | 3.7% | 14.7% | ||
| Q1 24 | 1.2% | 14.5% |
净利率GLPULTA
| Q4 25 | 1.1% | 8.1% | ||
| Q3 25 | 1.3% | 9.4% | ||
| Q2 25 | 1.2% | 10.7% | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 1.2% | 9.6% | ||
| Q3 24 | 2.1% | 9.9% | ||
| Q2 24 | 2.0% | 11.5% | ||
| Q1 24 | -0.3% | 11.1% |
每股收益（稀释后）GLPULTA
| Q4 25 | — | $5.14 | ||
| Q3 25 | — | $5.78 | ||
| Q2 25 | — | $6.70 | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $5.14 | ||
| Q3 24 | — | $5.30 | ||
| Q2 24 | — | $6.47 | ||
| Q1 24 | — | $8.06 |
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 | — | $204.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $2.6B |
| 总资产 | $3.9B | $7.0B |
| 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GLPULTA
| Q4 25 | — | $204.9M | ||
| Q3 25 | — | $242.7M | ||
| Q2 25 | — | $454.6M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $177.8M | ||
| Q3 24 | — | $414.0M | ||
| Q2 24 | — | $524.6M | ||
| Q1 24 | — | $766.6M |
股东权益GLPULTA
| Q4 25 | — | $2.6B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | $2.3B |
总资产GLPULTA
| Q4 25 | $3.9B | $7.0B | ||
| Q3 25 | $3.7B | $6.6B | ||
| Q2 25 | $3.8B | $6.0B | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.8B | $6.0B | ||
| Q3 24 | $3.7B | $5.7B | ||
| Q2 24 | $3.8B | $5.6B | ||
| Q1 24 | $3.5B | $5.7B |
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 | $5.6M |
| 自由现金流经营现金流 - 资本支出 | $62.2M | $-81.6M |
| 自由现金流率自由现金流/营收 | 2.8% | -2.9% |
| 资本支出强度资本支出/营收 | 1.8% | 3.1% |
| 现金转化率经营现金流/净利润 | 4.03× | 0.02× |
| 过去12个月自由现金流最近4个季度 | $193.3M | $-92.2M |
8季度趋势，按日历期对齐
经营现金流GLPULTA
| Q4 25 | $101.0M | $5.6M | ||
| Q3 25 | $19.0M | $96.5M | ||
| Q2 25 | $216.3M | $220.0M | ||
| Q1 25 | $-51.6M | — | ||
| Q4 24 | $67.2M | $-56.8M | ||
| Q3 24 | $122.7M | $199.5M | ||
| Q2 24 | $24.3M | $159.3M | ||
| Q1 24 | $-182.7M | $1.1B |
自由现金流GLPULTA
| Q4 25 | $62.2M | $-81.6M | ||
| Q3 25 | $-678.0K | $19.6M | ||
| Q2 25 | $201.3M | $141.0M | ||
| Q1 25 | $-69.5M | — | ||
| Q4 24 | $20.4M | $-171.1M | ||
| Q3 24 | $98.4M | $104.3M | ||
| Q2 24 | $8.7M | $68.3M | ||
| Q1 24 | $-199.3M | $994.0M |
自由现金流率GLPULTA
| Q4 25 | 2.8% | -2.9% | ||
| Q3 25 | -0.0% | 0.7% | ||
| Q2 25 | 9.7% | 4.9% | ||
| Q1 25 | -3.2% | — | ||
| Q4 24 | 1.0% | -6.8% | ||
| Q3 24 | 4.6% | 4.1% | ||
| Q2 24 | 0.4% | 2.5% | ||
| Q1 24 | -9.0% | 28.0% |
资本支出强度GLPULTA
| Q4 25 | 1.8% | 3.1% | ||
| Q3 25 | 0.9% | 2.8% | ||
| Q2 25 | 0.7% | 2.8% | ||
| Q1 25 | 0.8% | — | ||
| Q4 24 | 2.3% | 4.5% | ||
| Q3 24 | 1.1% | 3.7% | ||
| Q2 24 | 0.7% | 3.3% | ||
| Q1 24 | 0.8% | 3.5% |
现金转化率GLPULTA
| Q4 25 | 4.03× | 0.02× | ||
| Q3 25 | 0.66× | 0.37× | ||
| Q2 25 | 8.58× | 0.72× | ||
| Q1 25 | -2.76× | — | ||
| Q4 24 | 2.82× | -0.23× | ||
| Q3 24 | 2.67× | 0.79× | ||
| Q2 24 | 0.53× | 0.51× | ||
| Q1 24 | — | 2.84× |
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% |
ULTA
暂无分部数据
