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GLOBAL PARTNERS LP（GLP）与Wabtec（WAB）财务数据对比。点击上方公司名可切换其他公司
Wabtec的季度营收约是GLOBAL PARTNERS LP的1.3倍（$3.0B vs $2.2B），Wabtec净利率更高（12.3% vs 1.1%，领先11.2%），Wabtec同比增速更快（13.0% vs 7.0%），过去两年Wabtec的营收复合增速更高（5.6% 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。
西屋空气制动技术公司（通称Wabtec）是美国知名轨道交通设备企业，1999年由西屋空气制动公司（WABCO）与动力设备厂商MotivePower合并组建，总部设于宾夕法尼亚州匹兹堡，在全球轨交制动系统、牵引动力设备等领域拥有领先的技术实力与市场份额。
GLP vs WAB — 直观对比
营收规模更大
WAB
是对方的1.3倍
$2.2B
营收增速更快
WAB
高出6.0%
7.0%
净利率更高
WAB
高出11.2%
1.1%
两年增速更快
WAB
近两年复合增速
0.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $3.0B |
| 净利润 | $25.1M | $363.0M |
| 毛利率 | 11.9% | 36.0% |
| 营业利润率 | 2.6% | 17.5% |
| 净利率 | 1.1% | 12.3% |
| 营收同比 | 7.0% | 13.0% |
| 净利润同比 | 5.0% | 11.0% |
| 每股收益（稀释后） | — | $2.12 |
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GLPWAB
| Q1 26 | — | $3.0B | ||
| Q4 25 | $2.2B | $3.0B | ||
| Q3 25 | $2.2B | $2.9B | ||
| Q2 25 | $2.1B | $2.7B | ||
| Q1 25 | $2.2B | $2.6B | ||
| Q4 24 | $2.1B | $2.6B | ||
| Q3 24 | $2.1B | $2.7B | ||
| Q2 24 | $2.3B | $2.6B |
净利润GLPWAB
| Q1 26 | — | $363.0M | ||
| Q4 25 | $25.1M | $202.0M | ||
| Q3 25 | $29.0M | $310.0M | ||
| Q2 25 | $25.2M | $336.0M | ||
| Q1 25 | $18.7M | $322.0M | ||
| Q4 24 | $23.9M | $212.0M | ||
| Q3 24 | $45.9M | $283.0M | ||
| Q2 24 | $46.1M | $289.0M |
毛利率GLPWAB
| Q1 26 | — | 36.0% | ||
| Q4 25 | 11.9% | 32.6% | ||
| Q3 25 | 12.1% | 34.7% | ||
| Q2 25 | 13.1% | 34.7% | ||
| Q1 25 | 11.7% | 34.5% | ||
| Q4 24 | 13.0% | 30.9% | ||
| Q3 24 | 13.4% | 33.0% | ||
| Q2 24 | 12.6% | 33.1% |
营业利润率GLPWAB
| Q1 26 | — | 17.5% | ||
| Q4 25 | 2.6% | 12.0% | ||
| Q3 25 | 2.7% | 17.0% | ||
| Q2 25 | 2.9% | 17.4% | ||
| Q1 25 | 2.6% | 18.2% | ||
| Q4 24 | 2.8% | 12.9% | ||
| Q3 24 | 3.9% | 16.3% | ||
| Q2 24 | 3.7% | 16.3% |
净利率GLPWAB
| Q1 26 | — | 12.3% | ||
| Q4 25 | 1.1% | 6.8% | ||
| Q3 25 | 1.3% | 10.7% | ||
| Q2 25 | 1.2% | 12.4% | ||
| Q1 25 | 0.9% | 12.3% | ||
| Q4 24 | 1.2% | 8.2% | ||
| Q3 24 | 2.1% | 10.6% | ||
| Q2 24 | 2.0% | 10.9% |
每股收益（稀释后）GLPWAB
| Q1 26 | — | $2.12 | ||
| Q4 25 | — | $1.18 | ||
| Q3 25 | — | $1.81 | ||
| Q2 25 | — | $1.96 | ||
| Q1 25 | — | $1.88 | ||
| Q4 24 | — | $1.24 | ||
| Q3 24 | — | $1.63 | ||
| Q2 24 | — | $1.64 |
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 | — | — |
| 总债务越低越好 | — | $4.7B |
| 股东权益账面价值 | — | $11.1B |
| 总资产 | $3.9B | $23.2B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
总债务GLPWAB
| Q1 26 | — | $4.7B | ||
| Q4 25 | — | $5.5B | ||
| Q3 25 | — | $5.3B | ||
| Q2 25 | — | $4.8B | ||
| Q1 25 | — | $4.0B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.0B |
股东权益GLPWAB
| Q1 26 | — | $11.1B | ||
| Q4 25 | — | $11.1B | ||
| Q3 25 | — | $11.0B | ||
| Q2 25 | — | $10.8B | ||
| Q1 25 | — | $10.4B | ||
| Q4 24 | — | $10.1B | ||
| Q3 24 | — | $10.3B | ||
| Q2 24 | — | $10.5B |
总资产GLPWAB
| Q1 26 | — | $23.2B | ||
| Q4 25 | $3.9B | $22.1B | ||
| Q3 25 | $3.7B | $21.5B | ||
| Q2 25 | $3.8B | $20.4B | ||
| Q1 25 | $3.8B | $19.1B | ||
| Q4 24 | $3.8B | $18.7B | ||
| Q3 24 | $3.7B | $18.6B | ||
| Q2 24 | $3.8B | $18.9B |
负债/权益比GLPWAB
| Q1 26 | — | 0.42× | ||
| Q4 25 | — | 0.50× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | — | 0.38× |
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 | $199.0M |
| 自由现金流经营现金流 - 资本支出 | $62.2M | — |
| 自由现金流率自由现金流/营收 | 2.8% | — |
| 资本支出强度资本支出/营收 | 1.8% | — |
| 现金转化率经营现金流/净利润 | 4.03× | 0.55× |
| 过去12个月自由现金流最近4个季度 | $193.3M | — |
8季度趋势，按日历期对齐
经营现金流GLPWAB
| Q1 26 | — | $199.0M | ||
| Q4 25 | $101.0M | $992.0M | ||
| Q3 25 | $19.0M | $367.0M | ||
| Q2 25 | $216.3M | $209.0M | ||
| Q1 25 | $-51.6M | $191.0M | ||
| Q4 24 | $67.2M | $723.0M | ||
| Q3 24 | $122.7M | $542.0M | ||
| Q2 24 | $24.3M | $235.0M |
自由现金流GLPWAB
| Q1 26 | — | — | ||
| Q4 25 | $62.2M | $870.0M | ||
| Q3 25 | $-678.0K | $312.0M | ||
| Q2 25 | $201.3M | $170.0M | ||
| Q1 25 | $-69.5M | $147.0M | ||
| Q4 24 | $20.4M | $639.0M | ||
| Q3 24 | $98.4M | $496.0M | ||
| Q2 24 | $8.7M | $189.0M |
自由现金流率GLPWAB
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 29.3% | ||
| Q3 25 | -0.0% | 10.8% | ||
| Q2 25 | 9.7% | 6.3% | ||
| Q1 25 | -3.2% | 5.6% | ||
| Q4 24 | 1.0% | 24.7% | ||
| Q3 24 | 4.6% | 18.6% | ||
| Q2 24 | 0.4% | 7.1% |
资本支出强度GLPWAB
| Q1 26 | — | — | ||
| Q4 25 | 1.8% | 4.1% | ||
| Q3 25 | 0.9% | 1.9% | ||
| Q2 25 | 0.7% | 1.4% | ||
| Q1 25 | 0.8% | 1.7% | ||
| Q4 24 | 2.3% | 3.3% | ||
| Q3 24 | 1.1% | 1.7% | ||
| Q2 24 | 0.7% | 1.7% |
现金转化率GLPWAB
| Q1 26 | — | 0.55× | ||
| Q4 25 | 4.03× | 4.91× | ||
| Q3 25 | 0.66× | 1.18× | ||
| Q2 25 | 8.58× | 0.62× | ||
| Q1 25 | -2.76× | 0.59× | ||
| Q4 24 | 2.82× | 3.41× | ||
| Q3 24 | 2.67× | 1.92× | ||
| Q2 24 | 0.53× | 0.81× |
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% |
WAB
暂无分部数据
