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Hess Midstream LP（HESM）与Magnolia Oil & Gas Corp（MGY）财务数据对比。点击上方公司名可切换其他公司
Hess Midstream LP的季度营收约是Magnolia Oil & Gas Corp的1.3倍（$404.2M vs $317.6M），Hess Midstream LP净利率更高（23.1% vs 21.6%，领先1.4%），Hess Midstream LP同比增速更快（2.1% vs -2.7%），过去两年Hess Midstream LP的营收复合增速更高（6.6% vs -0.3%）
赫斯是美国全球化独立能源企业，主要从事原油与天然气的勘探、生产业务。公司于1968年由赫斯石油化工和阿美拉达石油合并成立，2023年10月同意被雪佛龙收购，相关交易已于2025年7月完成交割。
帝国石油是加拿大第二大一体化石油企业，由美国石油巨头埃克森美孚持有69.6%的多数股权，有时也被称为帝国埃索。公司业务涵盖原油、稀释沥青和天然气开采，同时是加拿大主要的石油炼制商与石化产品生产商，为埃索品牌加油站提供油品供应。
HESM vs MGY — 直观对比
营收规模更大
HESM
是对方的1.3倍
$317.6M
营收增速更快
HESM
高出4.8%
-2.7%
净利率更高
HESM
高出1.4%
21.6%
两年增速更快
HESM
近两年复合增速
-0.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $404.2M | $317.6M |
| 净利润 | $93.3M | $68.8M |
| 毛利率 | — | — |
| 营业利润率 | 62.2% | 29.6% |
| 净利率 | 23.1% | 21.6% |
| 营收同比 | 2.1% | -2.7% |
| 净利润同比 | 32.5% | -19.7% |
| 每股收益（稀释后） | — | — |
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HESMMGY
| Q4 25 | $404.2M | $317.6M | ||
| Q3 25 | $420.9M | $324.9M | ||
| Q2 25 | $414.2M | $319.0M | ||
| Q1 25 | $382.0M | $350.3M | ||
| Q4 24 | $395.9M | $326.6M | ||
| Q3 24 | $378.5M | $333.1M | ||
| Q2 24 | $365.5M | $336.7M | ||
| Q1 24 | $355.6M | $319.4M |
净利润HESMMGY
| Q4 25 | $93.3M | $68.8M | ||
| Q3 25 | $97.7M | $75.5M | ||
| Q2 25 | $90.3M | $78.1M | ||
| Q1 25 | $71.6M | $102.9M | ||
| Q4 24 | $70.4M | $85.6M | ||
| Q3 24 | $58.6M | $99.8M | ||
| Q2 24 | $49.5M | $95.6M | ||
| Q1 24 | $44.6M | $85.1M |
营业利润率HESMMGY
| Q4 25 | 62.2% | 29.6% | ||
| Q3 25 | 61.5% | 31.2% | ||
| Q2 25 | 62.8% | 33.8% | ||
| Q1 25 | 62.1% | 38.8% | ||
| Q4 24 | 61.4% | 38.0% | ||
| Q3 24 | 61.2% | 38.7% | ||
| Q2 24 | 60.8% | 39.9% | ||
| Q1 24 | 62.4% | 39.0% |
净利率HESMMGY
| Q4 25 | 23.1% | 21.6% | ||
| Q3 25 | 23.2% | 23.2% | ||
| Q2 25 | 21.8% | 24.5% | ||
| Q1 25 | 18.7% | 29.4% | ||
| Q4 24 | 17.8% | 26.2% | ||
| Q3 24 | 15.5% | 30.0% | ||
| Q2 24 | 13.5% | 28.4% | ||
| Q1 24 | 12.5% | 26.6% |
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 | $1.9M | $266.8M |
| 总债务越低越好 | $3.8B | $393.3M |
| 股东权益账面价值 | — | $2.0B |
| 总资产 | $4.4B | $2.9B |
| 负债/权益比越低杠杆越低 | — | 0.20× |
8季度趋势，按日历期对齐
现金及短期投资HESMMGY
| Q4 25 | $1.9M | $266.8M | ||
| Q3 25 | $5.5M | $280.5M | ||
| Q2 25 | $4.5M | $251.8M | ||
| Q1 25 | $6.1M | $247.6M | ||
| Q4 24 | $4.3M | $260.0M | ||
| Q3 24 | $10.3M | $276.1M | ||
| Q2 24 | $99.6M | $275.7M | ||
| Q1 24 | $4.2M | $399.3M |
总债务HESMMGY
| Q4 25 | $3.8B | $393.3M | ||
| Q3 25 | — | $393.1M | ||
| Q2 25 | — | $392.9M | ||
| Q1 25 | — | $392.7M | ||
| Q4 24 | $3.5B | $392.5M | ||
| Q3 24 | — | $394.8M | ||
| Q2 24 | — | $394.1M | ||
| Q1 24 | — | $393.5M |
股东权益HESMMGY
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | — | $1.9B |
总资产HESMMGY
| Q4 25 | $4.4B | $2.9B | ||
| Q3 25 | $4.4B | $2.9B | ||
| Q2 25 | $4.4B | $2.9B | ||
| Q1 25 | $4.3B | $2.9B | ||
| Q4 24 | $4.2B | $2.8B | ||
| Q3 24 | $4.1B | $2.8B | ||
| Q2 24 | $4.1B | $2.8B | ||
| Q1 24 | $3.9B | $2.8B |
负债/权益比HESMMGY
| Q4 25 | — | 0.20× | ||
| Q3 25 | — | 0.20× | ||
| Q2 25 | — | 0.20× | ||
| Q1 25 | — | 0.20× | ||
| Q4 24 | — | 0.20× | ||
| Q3 24 | — | 0.20× | ||
| Q2 24 | — | 0.21× | ||
| Q1 24 | — | 0.21× |
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 | $245.6M | $208.4M |
| 自由现金流经营现金流 - 资本支出 | $178.9M | — |
| 自由现金流率自由现金流/营收 | 44.3% | — |
| 资本支出强度资本支出/营收 | 16.5% | — |
| 现金转化率经营现金流/净利润 | 2.63× | 3.03× |
| 过去12个月自由现金流最近4个季度 | $728.2M | — |
8季度趋势，按日历期对齐
经营现金流HESMMGY
| Q4 25 | $245.6M | $208.4M | ||
| Q3 25 | $258.9M | $247.1M | ||
| Q2 25 | $276.9M | $198.7M | ||
| Q1 25 | $202.4M | $224.5M | ||
| Q4 24 | $258.5M | $222.6M | ||
| Q3 24 | $224.9M | $217.9M | ||
| Q2 24 | $271.6M | $269.4M | ||
| Q1 24 | $185.3M | $210.9M |
自由现金流HESMMGY
| Q4 25 | $178.9M | — | ||
| Q3 25 | $178.9M | — | ||
| Q2 25 | $213.5M | — | ||
| Q1 25 | $156.9M | — | ||
| Q4 24 | $163.4M | — | ||
| Q3 24 | $132.6M | — | ||
| Q2 24 | $207.7M | — | ||
| Q1 24 | $130.5M | — |
自由现金流率HESMMGY
| Q4 25 | 44.3% | — | ||
| Q3 25 | 42.5% | — | ||
| Q2 25 | 51.5% | — | ||
| Q1 25 | 41.1% | — | ||
| Q4 24 | 41.3% | — | ||
| Q3 24 | 35.0% | — | ||
| Q2 24 | 56.8% | — | ||
| Q1 24 | 36.7% | — |
资本支出强度HESMMGY
| Q4 25 | 16.5% | — | ||
| Q3 25 | 19.0% | — | ||
| Q2 25 | 15.3% | — | ||
| Q1 25 | 11.9% | — | ||
| Q4 24 | 24.0% | — | ||
| Q3 24 | 24.4% | — | ||
| Q2 24 | 17.5% | — | ||
| Q1 24 | 15.4% | — |
现金转化率HESMMGY
| Q4 25 | 2.63× | 3.03× | ||
| Q3 25 | 2.65× | 3.27× | ||
| Q2 25 | 3.07× | 2.54× | ||
| Q1 25 | 2.83× | 2.18× | ||
| Q4 24 | 3.67× | 2.60× | ||
| Q3 24 | 3.84× | 2.18× | ||
| Q2 24 | 5.49× | 2.82× | ||
| Q1 24 | 4.15× | 2.48× |
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
HESM
| Gathering | $217.3M | 54% |
| Processing And Storage | $154.7M | 38% |
| Terminaling And Export | $32.2M | 8% |
MGY
| Oil And Condensate | $215.6M | 68% |
| Natural Gas Reserves | $52.9M | 17% |
| Natural Gas Liquids Reserves | $49.1M | 15% |
