vs
Hess Midstream LP（HESM）与RBC Bearings INC（RBC）财务数据对比。点击上方公司名可切换其他公司
RBC Bearings INC的季度营收约是Hess Midstream LP的1.1倍（$461.6M vs $404.2M），Hess Midstream LP净利率更高（23.1% vs 14.6%，领先8.5%），RBC Bearings INC同比增速更快（17.0% vs 2.1%），Hess Midstream LP自由现金流更多（$178.9M vs $99.1M），过去两年Hess Midstream LP的营收复合增速更高（6.6% vs 5.6%）
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。
该文本实际介绍的并非RBC Bearings，而是美国多佛公司。多佛是一家工业产品综合制造商，1955年成立，总部位于伊利诺伊州当纳斯格罗夫。2021年其业务分为五大板块：工程产品、清洁能源与加注、成像与识别、泵与工艺解决方案、气候与可持续技术，是标普500成分股，在纽约证券交易所上市。
HESM vs RBC — 直观对比
营收规模更大
RBC
是对方的1.1倍
$404.2M
营收增速更快
RBC
高出14.9%
2.1%
净利率更高
HESM
高出8.5%
14.6%
自由现金流更多
HESM
多$79.8M
$99.1M
两年增速更快
HESM
近两年复合增速
5.6%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $404.2M | $461.6M |
| 净利润 | $93.3M | $67.4M |
| 毛利率 | — | 44.3% |
| 营业利润率 | 62.2% | 22.3% |
| 净利率 | 23.1% | 14.6% |
| 营收同比 | 2.1% | 17.0% |
| 净利润同比 | 32.5% | 16.4% |
| 每股收益（稀释后） | — | $2.13 |
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HESMRBC
| Q4 25 | $404.2M | $461.6M | ||
| Q3 25 | $420.9M | $455.3M | ||
| Q2 25 | $414.2M | $436.0M | ||
| Q1 25 | $382.0M | $437.7M | ||
| Q4 24 | $395.9M | $394.4M | ||
| Q3 24 | $378.5M | $397.9M | ||
| Q2 24 | $365.5M | $406.3M | ||
| Q1 24 | $355.6M | $413.7M |
净利润HESMRBC
| Q4 25 | $93.3M | $67.4M | ||
| Q3 25 | $97.7M | $60.0M | ||
| Q2 25 | $90.3M | $68.5M | ||
| Q1 25 | $71.6M | $72.7M | ||
| Q4 24 | $70.4M | $57.9M | ||
| Q3 24 | $58.6M | $54.2M | ||
| Q2 24 | $49.5M | $61.4M | ||
| Q1 24 | $44.6M | — |
毛利率HESMRBC
| Q4 25 | — | 44.3% | ||
| Q3 25 | — | 44.1% | ||
| Q2 25 | — | 44.8% | ||
| Q1 25 | — | 44.2% | ||
| Q4 24 | — | 44.3% | ||
| Q3 24 | — | 43.7% | ||
| Q2 24 | — | 45.3% | ||
| Q1 24 | — | 43.1% |
营业利润率HESMRBC
| Q4 25 | 62.2% | 22.3% | ||
| Q3 25 | 61.5% | 21.5% | ||
| Q2 25 | 62.8% | 23.2% | ||
| Q1 25 | 62.1% | 23.0% | ||
| Q4 24 | 61.4% | 21.7% | ||
| Q3 24 | 61.2% | 21.6% | ||
| Q2 24 | 60.8% | 24.0% | ||
| Q1 24 | 62.4% | 22.8% |
净利率HESMRBC
| Q4 25 | 23.1% | 14.6% | ||
| Q3 25 | 23.2% | 13.2% | ||
| Q2 25 | 21.8% | 15.7% | ||
| Q1 25 | 18.7% | 16.6% | ||
| Q4 24 | 17.8% | 14.7% | ||
| Q3 24 | 15.5% | 13.6% | ||
| Q2 24 | 13.5% | 15.1% | ||
| Q1 24 | 12.5% | — |
每股收益（稀释后）HESMRBC
| Q4 25 | — | $2.13 | ||
| Q3 25 | — | $1.90 | ||
| Q2 25 | — | $2.17 | ||
| Q1 25 | — | $2.33 | ||
| Q4 24 | — | $1.82 | ||
| Q3 24 | — | $1.65 | ||
| Q2 24 | — | $1.90 | ||
| Q1 24 | — | $1.92 |
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 | $107.6M |
| 总债务越低越好 | $3.8B | $990.2M |
| 股东权益账面价值 | — | $3.3B |
| 总资产 | $4.4B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资HESMRBC
| Q4 25 | $1.9M | $107.6M | ||
| Q3 25 | $5.5M | $91.2M | ||
| Q2 25 | $4.5M | $132.9M | ||
| Q1 25 | $6.1M | $36.8M | ||
| Q4 24 | $4.3M | — | ||
| Q3 24 | $10.3M | — | ||
| Q2 24 | $99.6M | $76.8M | ||
| Q1 24 | $4.2M | $63.5M |
总债务HESMRBC
| Q4 25 | $3.8B | $990.2M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $915.6M | ||
| Q1 25 | — | $920.1M | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.2B |
股东权益HESMRBC
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $3.2B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.8B |
总资产HESMRBC
| Q4 25 | $4.4B | $5.1B | ||
| Q3 25 | $4.4B | $5.1B | ||
| Q2 25 | $4.4B | $4.8B | ||
| Q1 25 | $4.3B | $4.7B | ||
| Q4 24 | $4.2B | $4.7B | ||
| Q3 24 | $4.1B | $4.7B | ||
| Q2 24 | $4.1B | $4.7B | ||
| Q1 24 | $3.9B | $4.7B |
负债/权益比HESMRBC
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.43× |
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 | $122.1M |
| 自由现金流经营现金流 - 资本支出 | $178.9M | $99.1M |
| 自由现金流率自由现金流/营收 | 44.3% | 21.5% |
| 资本支出强度资本支出/营收 | 16.5% | 5.0% |
| 现金转化率经营现金流/净利润 | 2.63× | 1.81× |
| 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HESMRBC
| Q4 25 | $245.6M | $122.1M | ||
| Q3 25 | $258.9M | $88.4M | ||
| Q2 25 | $276.9M | $120.0M | ||
| Q1 25 | $202.4M | — | ||
| Q4 24 | $258.5M | $84.0M | ||
| Q3 24 | $224.9M | — | ||
| Q2 24 | $271.6M | $97.4M | ||
| Q1 24 | $185.3M | — |
自由现金流HESMRBC
| Q4 25 | $178.9M | $99.1M | ||
| Q3 25 | $178.9M | $71.7M | ||
| Q2 25 | $213.5M | $104.3M | ||
| Q1 25 | $156.9M | — | ||
| Q4 24 | $163.4M | $73.6M | ||
| Q3 24 | $132.6M | — | ||
| Q2 24 | $207.7M | $88.4M | ||
| Q1 24 | $130.5M | — |
自由现金流率HESMRBC
| Q4 25 | 44.3% | 21.5% | ||
| Q3 25 | 42.5% | 15.7% | ||
| Q2 25 | 51.5% | 23.9% | ||
| Q1 25 | 41.1% | — | ||
| Q4 24 | 41.3% | 18.7% | ||
| Q3 24 | 35.0% | — | ||
| Q2 24 | 56.8% | 21.8% | ||
| Q1 24 | 36.7% | — |
资本支出强度HESMRBC
| Q4 25 | 16.5% | 5.0% | ||
| Q3 25 | 19.0% | 3.7% | ||
| Q2 25 | 15.3% | 3.6% | ||
| Q1 25 | 11.9% | 3.2% | ||
| Q4 24 | 24.0% | 2.6% | ||
| Q3 24 | 24.4% | 4.1% | ||
| Q2 24 | 17.5% | 2.2% | ||
| Q1 24 | 15.4% | — |
现金转化率HESMRBC
| Q4 25 | 2.63× | 1.81× | ||
| Q3 25 | 2.65× | 1.47× | ||
| Q2 25 | 3.07× | 1.75× | ||
| Q1 25 | 2.83× | — | ||
| Q4 24 | 3.67× | 1.45× | ||
| Q3 24 | 3.84× | — | ||
| Q2 24 | 5.49× | 1.59× | ||
| Q1 24 | 4.15× | — |
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% |
RBC
| Domestic | $413.3M | 90% |
| Foreign | $48.3M | 10% |
