vs
GLOBAL PARTNERS LP（GLP）与Veralto（VLTO）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Veralto的1.6倍（$2.2B vs $1.4B），Veralto净利率更高（17.0% vs 1.1%，领先15.9%），GLOBAL PARTNERS LP同比增速更快（7.0% vs 4.4%），Veralto自由现金流更多（$258.0M vs $62.2M），过去两年Veralto的营收复合增速更高（5.8% 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。
Veralto是总部位于美国马萨诸塞州沃尔瑟姆的科技企业，核心业务覆盖水分析、水处理、标识喷码、包装及色彩管理相关产品的研发与生产，面向全球多领域客户提供适配的技术产品及配套服务。
GLP vs VLTO — 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2.6%
4.4%
净利率更高
VLTO
高出15.9%
1.1%
自由现金流更多
VLTO
多$195.8M
$62.2M
两年增速更快
VLTO
近两年复合增速
0.2%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $1.4B |
| 净利润 | $25.1M | $239.0M |
| 毛利率 | 11.9% | 60.1% |
| 营业利润率 | 2.6% | 23.2% |
| 净利率 | 1.1% | 17.0% |
| 营收同比 | 7.0% | 4.4% |
| 净利润同比 | 5.0% | 5.3% |
| 每股收益（稀释后） | — | $0.95 |
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GLPVLTO
| Q4 25 | $2.2B | $1.4B | ||
| Q3 25 | $2.2B | $1.4B | ||
| Q2 25 | $2.1B | $1.3B | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.1B | $1.3B | ||
| Q3 24 | $2.1B | $1.3B | ||
| Q2 24 | $2.3B | $1.3B | ||
| Q1 24 | $2.2B | $1.2B |
净利润GLPVLTO
| Q4 25 | $25.1M | $239.0M | ||
| Q3 25 | $29.0M | $222.0M | ||
| Q2 25 | $25.2M | $225.0M | ||
| Q1 25 | $18.7M | — | ||
| Q4 24 | $23.9M | $227.0M | ||
| Q3 24 | $45.9M | $219.0M | ||
| Q2 24 | $46.1M | $203.0M | ||
| Q1 24 | $-5.6M | $184.0M |
毛利率GLPVLTO
| Q4 25 | 11.9% | 60.1% | ||
| Q3 25 | 12.1% | 60.0% | ||
| Q2 25 | 13.1% | 60.4% | ||
| Q1 25 | 11.7% | — | ||
| Q4 24 | 13.0% | 59.6% | ||
| Q3 24 | 13.4% | 59.6% | ||
| Q2 24 | 12.6% | 60.1% | ||
| Q1 24 | 9.8% | 60.0% |
营业利润率GLPVLTO
| Q4 25 | 2.6% | 23.2% | ||
| Q3 25 | 2.7% | 22.8% | ||
| Q2 25 | 2.9% | 24.2% | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | 2.8% | 22.9% | ||
| Q3 24 | 3.9% | 23.4% | ||
| Q2 24 | 3.7% | 23.2% | ||
| Q1 24 | 1.2% | 23.5% |
净利率GLPVLTO
| Q4 25 | 1.1% | 17.0% | ||
| Q3 25 | 1.3% | 16.2% | ||
| Q2 25 | 1.2% | 16.9% | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 1.2% | 16.9% | ||
| Q3 24 | 2.1% | 16.7% | ||
| Q2 24 | 2.0% | 15.8% | ||
| Q1 24 | -0.3% | 14.8% |
每股收益（稀释后）GLPVLTO
| Q4 25 | — | $0.95 | ||
| Q3 25 | — | $0.89 | ||
| Q2 25 | — | $0.90 | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0.91 | ||
| Q3 24 | — | $0.88 | ||
| Q2 24 | — | $0.81 | ||
| Q1 24 | — | $0.74 |
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 | — | $2.7B |
| 股东权益账面价值 | — | $2.8B |
| 总资产 | $3.9B | $7.4B |
| 负债/权益比越低杠杆越低 | — | 0.94× |
8季度趋势，按日历期对齐
现金及短期投资GLPVLTO
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $827.0M |
总债务GLPVLTO
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.6B | ||
| Q1 24 | — | $2.6B |
股东权益GLPVLTO
| Q4 25 | — | $2.8B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.5B |
总资产GLPVLTO
| Q4 25 | $3.9B | $7.4B | ||
| Q3 25 | $3.7B | $7.2B | ||
| Q2 25 | $3.8B | $6.6B | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.8B | $6.4B | ||
| Q3 24 | $3.7B | $6.3B | ||
| Q2 24 | $3.8B | $5.9B | ||
| Q1 24 | $3.5B | $5.7B |
负债/权益比GLPVLTO
| Q4 25 | — | 0.94× | ||
| Q3 25 | — | 1.01× | ||
| Q2 25 | — | 1.14× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.28× | ||
| Q3 24 | — | 1.35× | ||
| Q2 24 | — | 1.57× | ||
| Q1 24 | — | 1.77× |
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 | $270.0M |
| 自由现金流经营现金流 - 资本支出 | $62.2M | $258.0M |
| 自由现金流率自由现金流/营收 | 2.8% | 18.4% |
| 资本支出强度资本支出/营收 | 1.8% | 0.9% |
| 现金转化率经营现金流/净利润 | 4.03× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $193.3M | $986.0M |
8季度趋势，按日历期对齐
经营现金流GLPVLTO
| Q4 25 | $101.0M | $270.0M | ||
| Q3 25 | $19.0M | $339.0M | ||
| Q2 25 | $216.3M | $157.0M | ||
| Q1 25 | $-51.6M | — | ||
| Q4 24 | $67.2M | $285.0M | ||
| Q3 24 | $122.7M | $224.0M | ||
| Q2 24 | $24.3M | $251.0M | ||
| Q1 24 | $-182.7M | $115.0M |
自由现金流GLPVLTO
| Q4 25 | $62.2M | $258.0M | ||
| Q3 25 | $-678.0K | $323.0M | ||
| Q2 25 | $201.3M | $142.0M | ||
| Q1 25 | $-69.5M | — | ||
| Q4 24 | $20.4M | $263.0M | ||
| Q3 24 | $98.4M | $215.0M | ||
| Q2 24 | $8.7M | $240.0M | ||
| Q1 24 | $-199.3M | $102.0M |
自由现金流率GLPVLTO
| Q4 25 | 2.8% | 18.4% | ||
| Q3 25 | -0.0% | 23.6% | ||
| Q2 25 | 9.7% | 10.7% | ||
| Q1 25 | -3.2% | — | ||
| Q4 24 | 1.0% | 19.6% | ||
| Q3 24 | 4.6% | 16.4% | ||
| Q2 24 | 0.4% | 18.6% | ||
| Q1 24 | -9.0% | 8.2% |
资本支出强度GLPVLTO
| Q4 25 | 1.8% | 0.9% | ||
| Q3 25 | 0.9% | 1.2% | ||
| Q2 25 | 0.7% | 1.1% | ||
| Q1 25 | 0.8% | — | ||
| Q4 24 | 2.3% | 1.6% | ||
| Q3 24 | 1.1% | 0.7% | ||
| Q2 24 | 0.7% | 0.9% | ||
| Q1 24 | 0.8% | 1.0% |
现金转化率GLPVLTO
| Q4 25 | 4.03× | 1.13× | ||
| Q3 25 | 0.66× | 1.53× | ||
| Q2 25 | 8.58× | 0.70× | ||
| Q1 25 | -2.76× | — | ||
| Q4 24 | 2.82× | 1.26× | ||
| Q3 24 | 2.67× | 1.02× | ||
| Q2 24 | 0.53× | 1.24× | ||
| Q1 24 | — | 0.63× |
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% |
VLTO
| Product Quality And Innovation Segment | $548.0M | 39% |
| Revenuefrom Contractwith Customer Measurement Recurring | $521.0M | 37% |
| Revenuefrom Contractwith Customer Measurement Nonrecurring | $335.0M | 24% |
