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Hess Midstream LP（HESM）与Rubrik, Inc.（RBRK）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Rubrik, Inc.的1.2倍（$404.2M vs $350.2M），Hess Midstream LP净利率更高（23.1% vs -18.2%，领先41.3%），Rubrik, Inc.同比增速更快（48.3% vs 2.1%），Hess Midstream LP自由现金流更多（$178.9M vs $80.7M）
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。
Rubrik是总部位于美国加利福尼亚州帕洛阿尔托的云数据管理与数据安全企业，成立于2014年1月，专注于为客户提供云环境下的数据管理、安全防护相关解决方案，2024年4月在纽约证券交易所上市。
HESM vs RBRK — 直观对比
营收规模更大
HESM
是对方的1.2倍
$350.2M
营收增速更快
RBRK
高出46.2%
2.1%
净利率更高
HESM
高出41.3%
-18.2%
自由现金流更多
HESM
多$98.2M
$80.7M
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $404.2M | $350.2M |
| 净利润 | $93.3M | $-63.8M |
| 毛利率 | — | 80.5% |
| 营业利润率 | 62.2% | -21.6% |
| 净利率 | 23.1% | -18.2% |
| 营收同比 | 2.1% | 48.3% |
| 净利润同比 | 32.5% | 51.2% |
| 每股收益（稀释后） | — | $-0.32 |
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HESMRBRK
| Q4 25 | $404.2M | $350.2M | ||
| Q3 25 | $420.9M | $309.9M | ||
| Q2 25 | $414.2M | $278.5M | ||
| Q1 25 | $382.0M | $258.1M | ||
| Q4 24 | $395.9M | $236.2M | ||
| Q3 24 | $378.5M | $205.0M | ||
| Q2 24 | $365.5M | $187.3M | ||
| Q1 24 | $355.6M | — |
净利润HESMRBRK
| Q4 25 | $93.3M | $-63.8M | ||
| Q3 25 | $97.7M | $-95.9M | ||
| Q2 25 | $90.3M | $-102.1M | ||
| Q1 25 | $71.6M | $-114.9M | ||
| Q4 24 | $70.4M | $-130.9M | ||
| Q3 24 | $58.6M | $-176.9M | ||
| Q2 24 | $49.5M | $-732.1M | ||
| Q1 24 | $44.6M | — |
毛利率HESMRBRK
| Q4 25 | — | 80.5% | ||
| Q3 25 | — | 79.5% | ||
| Q2 25 | — | 78.3% | ||
| Q1 25 | — | 77.4% | ||
| Q4 24 | — | 76.2% | ||
| Q3 24 | — | 73.1% | ||
| Q2 24 | — | 48.8% | ||
| Q1 24 | — | — |
营业利润率HESMRBRK
| Q4 25 | 62.2% | -21.6% | ||
| Q3 25 | 61.5% | -30.5% | ||
| Q2 25 | 62.8% | -33.4% | ||
| Q1 25 | 62.1% | -45.0% | ||
| Q4 24 | 61.4% | -52.8% | ||
| Q3 24 | 61.2% | -82.1% | ||
| Q2 24 | 60.8% | -387.0% | ||
| Q1 24 | 62.4% | — |
净利率HESMRBRK
| Q4 25 | 23.1% | -18.2% | ||
| Q3 25 | 23.2% | -31.0% | ||
| Q2 25 | 21.8% | -36.7% | ||
| Q1 25 | 18.7% | -44.5% | ||
| Q4 24 | 17.8% | -55.4% | ||
| Q3 24 | 15.5% | -86.3% | ||
| Q2 24 | 13.5% | -390.8% | ||
| Q1 24 | 12.5% | — |
每股收益（稀释后）HESMRBRK
| Q4 25 | — | $-0.32 | ||
| Q3 25 | — | $-0.49 | ||
| Q2 25 | — | $-0.53 | ||
| Q1 25 | — | $5.69 | ||
| Q4 24 | — | $-0.71 | ||
| Q3 24 | — | $-0.98 | ||
| Q2 24 | — | $-11.48 | ||
| Q1 24 | — | — |
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 | $307.1M |
| 总债务越低越好 | $3.8B | — |
| 股东权益账面价值 | — | $-524.4M |
| 总资产 | $4.4B | $2.5B |
| 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HESMRBRK
| Q4 25 | $1.9M | $307.1M | ||
| Q3 25 | $5.5M | $322.7M | ||
| Q2 25 | $4.5M | $284.0M | ||
| Q1 25 | $6.1M | $186.3M | ||
| Q4 24 | $4.3M | $103.9M | ||
| Q3 24 | $10.3M | $142.3M | ||
| Q2 24 | $99.6M | $502.6M | ||
| Q1 24 | $4.2M | — |
总债务HESMRBRK
| Q4 25 | $3.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HESMRBRK
| Q4 25 | — | $-524.4M | ||
| Q3 25 | — | $-564.3M | ||
| Q2 25 | — | $-556.5M | ||
| Q1 25 | — | $-553.7M | ||
| Q4 24 | — | $-521.1M | ||
| Q3 24 | — | $-499.3M | ||
| Q2 24 | — | $-514.6M | ||
| Q1 24 | — | — |
总资产HESMRBRK
| Q4 25 | $4.4B | $2.5B | ||
| Q3 25 | $4.4B | $2.4B | ||
| Q2 25 | $4.4B | $1.5B | ||
| Q1 25 | $4.3B | $1.4B | ||
| Q4 24 | $4.2B | $1.3B | ||
| Q3 24 | $4.1B | $1.2B | ||
| Q2 24 | $4.1B | $1.2B | ||
| Q1 24 | $3.9B | — |
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 | $85.5M |
| 自由现金流经营现金流 - 资本支出 | $178.9M | $80.7M |
| 自由现金流率自由现金流/营收 | 44.3% | 23.1% |
| 资本支出强度资本支出/营收 | 16.5% | 1.4% |
| 现金转化率经营现金流/净利润 | 2.63× | — |
| 过去12个月自由现金流最近4个季度 | $728.2M | $256.8M |
8季度趋势，按日历期对齐
经营现金流HESMRBRK
| Q4 25 | $245.6M | $85.5M | ||
| Q3 25 | $258.9M | $64.7M | ||
| Q2 25 | $276.9M | $39.7M | ||
| Q1 25 | $202.4M | $83.6M | ||
| Q4 24 | $258.5M | $23.1M | ||
| Q3 24 | $224.9M | $-27.1M | ||
| Q2 24 | $271.6M | $-31.4M | ||
| Q1 24 | $185.3M | — |
自由现金流HESMRBRK
| Q4 25 | $178.9M | $80.7M | ||
| Q3 25 | $178.9M | $61.2M | ||
| Q2 25 | $213.5M | $36.8M | ||
| Q1 25 | $156.9M | $78.0M | ||
| Q4 24 | $163.4M | $18.0M | ||
| Q3 24 | $132.6M | $-29.7M | ||
| Q2 24 | $207.7M | $-35.0M | ||
| Q1 24 | $130.5M | — |
自由现金流率HESMRBRK
| Q4 25 | 44.3% | 23.1% | ||
| Q3 25 | 42.5% | 19.8% | ||
| Q2 25 | 51.5% | 13.2% | ||
| Q1 25 | 41.1% | 30.2% | ||
| Q4 24 | 41.3% | 7.6% | ||
| Q3 24 | 35.0% | -14.5% | ||
| Q2 24 | 56.8% | -18.7% | ||
| Q1 24 | 36.7% | — |
资本支出强度HESMRBRK
| Q4 25 | 16.5% | 1.4% | ||
| Q3 25 | 19.0% | 1.1% | ||
| Q2 25 | 15.3% | 1.0% | ||
| Q1 25 | 11.9% | 2.2% | ||
| Q4 24 | 24.0% | 2.1% | ||
| Q3 24 | 24.4% | 1.3% | ||
| Q2 24 | 17.5% | 1.9% | ||
| Q1 24 | 15.4% | — |
现金转化率HESMRBRK
| Q4 25 | 2.63× | — | ||
| Q3 25 | 2.65× | — | ||
| Q2 25 | 3.07× | — | ||
| Q1 25 | 2.83× | — | ||
| Q4 24 | 3.67× | — | ||
| Q3 24 | 3.84× | — | ||
| Q2 24 | 5.49× | — | ||
| 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% |
RBRK
| Subscription And Circulation | $336.4M | 96% |
| Other | $12.3M | 4% |
| Software And Services | $4.9M | 1% |
| Maintenance | $1.5M | 0% |
