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Hess Midstream LP（HESM）与RESOURCES CONNECTION, INC.（RGP）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RESOURCES CONNECTION, INC.的1.7倍（$204.1M vs $117.7M），Hess Midstream LP净利率更高（77.3% vs -10.8%，领先88.0%），Hess Midstream LP同比增速更快（2.1% vs -19.2%），过去两年RESOURCES CONNECTION, INC.的营收复合增速更高（-11.8% vs -25.3%）
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。
RGP原名 Resources Global Professionals，是 Resources Connection, Inc. 的核心运营主体，面向全球客户提供多领域专业咨询服务，覆盖财务会计、信息管理、治理风险合规、人力资本、法务监管、企业咨询与重组、战略传播以及供应链管理等板块。
HESM vs RGP — 直观对比
营收规模更大
HESM
是对方的1.7倍
$117.7M
营收增速更快
HESM
高出21.3%
-19.2%
净利率更高
HESM
高出88.0%
-10.8%
两年增速更快
RGP
近两年复合增速
-25.3%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $204.1M | $117.7M |
| 净利润 | $157.7M | $-12.7M |
| 毛利率 | — | 37.1% |
| 营业利润率 | 116.7% | -10.3% |
| 净利率 | 77.3% | -10.8% |
| 营收同比 | 2.1% | -19.2% |
| 净利润同比 | -2.3% | 81.6% |
| 每股收益（稀释后） | $0.68 | $-0.38 |
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HESMRGP
| Q1 26 | $204.1M | — | ||
| Q4 25 | $404.2M | $117.7M | ||
| Q3 25 | $420.9M | $120.2M | ||
| Q2 25 | $414.2M | $139.3M | ||
| Q1 25 | $382.0M | $129.4M | ||
| Q4 24 | $395.9M | $145.6M | ||
| Q3 24 | $378.5M | $136.9M | ||
| Q2 24 | $365.5M | $148.2M |
净利润HESMRGP
| Q1 26 | $157.7M | — | ||
| Q4 25 | $93.3M | $-12.7M | ||
| Q3 25 | $97.7M | $-2.4M | ||
| Q2 25 | $90.3M | $-73.3M | ||
| Q1 25 | $71.6M | $-44.1M | ||
| Q4 24 | $70.4M | $-68.7M | ||
| Q3 24 | $58.6M | $-5.7M | ||
| Q2 24 | $49.5M | $10.5M |
毛利率HESMRGP
| Q1 26 | — | — | ||
| Q4 25 | — | 37.1% | ||
| Q3 25 | — | 39.5% | ||
| Q2 25 | — | 40.2% | ||
| Q1 25 | — | 35.1% | ||
| Q4 24 | — | 38.5% | ||
| Q3 24 | — | 36.5% | ||
| Q2 24 | — | 40.2% |
营业利润率HESMRGP
| Q1 26 | 116.7% | — | ||
| Q4 25 | 62.2% | -10.3% | ||
| Q3 25 | 61.5% | -1.7% | ||
| Q2 25 | 62.8% | -47.0% | ||
| Q1 25 | 62.1% | -38.4% | ||
| Q4 24 | 61.4% | -52.7% | ||
| Q3 24 | 61.2% | -3.5% | ||
| Q2 24 | 60.8% | 7.6% |
净利率HESMRGP
| Q1 26 | 77.3% | — | ||
| Q4 25 | 23.1% | -10.8% | ||
| Q3 25 | 23.2% | -2.0% | ||
| Q2 25 | 21.8% | -52.6% | ||
| Q1 25 | 18.7% | -34.0% | ||
| Q4 24 | 17.8% | -47.2% | ||
| Q3 24 | 15.5% | -4.2% | ||
| Q2 24 | 13.5% | 7.1% |
每股收益（稀释后）HESMRGP
| Q1 26 | $0.68 | — | ||
| Q4 25 | — | $-0.38 | ||
| Q3 25 | — | $-0.07 | ||
| Q2 25 | — | $-2.21 | ||
| Q1 25 | — | $-1.34 | ||
| Q4 24 | — | $-2.08 | ||
| Q3 24 | — | $-0.17 | ||
| Q2 24 | — | $0.31 |
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 | — | $89.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $194.6M |
| 总资产 | — | $289.3M |
| 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HESMRGP
| Q1 26 | — | — | ||
| Q4 25 | $1.9M | $89.8M | ||
| Q3 25 | $5.5M | $77.5M | ||
| Q2 25 | $4.5M | $86.1M | ||
| Q1 25 | $6.1M | $72.5M | ||
| Q4 24 | $4.3M | $78.2M | ||
| Q3 24 | $10.3M | $89.6M | ||
| Q2 24 | $99.6M | $108.9M |
总债务HESMRGP
| Q1 26 | — | — | ||
| Q4 25 | $3.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益HESMRGP
| Q1 26 | — | — | ||
| Q4 25 | — | $194.6M | ||
| Q3 25 | — | $206.4M | ||
| Q2 25 | — | $207.1M | ||
| Q1 25 | — | $277.8M | ||
| Q4 24 | — | $325.7M | ||
| Q3 24 | — | $407.2M | ||
| Q2 24 | — | $418.8M |
总资产HESMRGP
| Q1 26 | — | — | ||
| Q4 25 | $4.4B | $289.3M | ||
| Q3 25 | $4.4B | $287.2M | ||
| Q2 25 | $4.4B | $304.7M | ||
| Q1 25 | $4.3B | $375.6M | ||
| Q4 24 | $4.2B | $424.9M | ||
| Q3 24 | $4.1B | $512.9M | ||
| Q2 24 | $4.1B | $510.9M |
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 | $253.3M | $15.9M |
| 自由现金流经营现金流 - 资本支出 | — | $15.6M |
| 自由现金流率自由现金流/营收 | — | 13.2% |
| 资本支出强度资本支出/营收 | 51.4% | 0.3% |
| 现金转化率经营现金流/净利润 | 1.61× | — |
| 过去12个月自由现金流最近4个季度 | — | $24.3M |
8季度趋势，按日历期对齐
经营现金流HESMRGP
| Q1 26 | $253.3M | — | ||
| Q4 25 | $245.6M | $15.9M | ||
| Q3 25 | $258.9M | $-7.8M | ||
| Q2 25 | $276.9M | $16.8M | ||
| Q1 25 | $202.4M | $659.0K | ||
| Q4 24 | $258.5M | $1.8M | ||
| Q3 24 | $224.9M | $-309.0K | ||
| Q2 24 | $271.6M | $3.2M |
自由现金流HESMRGP
| Q1 26 | — | — | ||
| Q4 25 | $178.9M | $15.6M | ||
| Q3 25 | $178.9M | $-8.0M | ||
| Q2 25 | $213.5M | $16.5M | ||
| Q1 25 | $156.9M | $238.0K | ||
| Q4 24 | $163.4M | $61.0K | ||
| Q3 24 | $132.6M | $-575.0K | ||
| Q2 24 | $207.7M | $3.0M |
自由现金流率HESMRGP
| Q1 26 | — | — | ||
| Q4 25 | 44.3% | 13.2% | ||
| Q3 25 | 42.5% | -6.6% | ||
| Q2 25 | 51.5% | 11.8% | ||
| Q1 25 | 41.1% | 0.2% | ||
| Q4 24 | 41.3% | 0.0% | ||
| Q3 24 | 35.0% | -0.4% | ||
| Q2 24 | 56.8% | 2.1% |
资本支出强度HESMRGP
| Q1 26 | 51.4% | — | ||
| Q4 25 | 16.5% | 0.3% | ||
| Q3 25 | 19.0% | 0.1% | ||
| Q2 25 | 15.3% | 0.2% | ||
| Q1 25 | 11.9% | 0.3% | ||
| Q4 24 | 24.0% | 1.2% | ||
| Q3 24 | 24.4% | 0.2% | ||
| Q2 24 | 17.5% | 0.1% |
现金转化率HESMRGP
| Q1 26 | 1.61× | — | ||
| 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× | 0.30× |
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
| Affiliate services | $197.9M | 97% |
| Third-party services | $6.2M | 3% |
RGP
| US | $93.7M | 80% |
| Non Us | $24.0M | 20% |
