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Hess Midstream LP（HESM）与GIBRALTAR INDUSTRIES, INC.（ROCK）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GIBRALTAR INDUSTRIES, INC.的1.8倍（$404.2M vs $225.0M），GIBRALTAR INDUSTRIES, INC.同比增速更快（24.9% vs 2.1%），Hess Midstream LP自由现金流更多（$178.9M vs $26.2M），过去两年Hess Midstream LP的营收复合增速更高（6.6% vs -12.3%）
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。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
HESM vs ROCK — 直观对比
营收规模更大
HESM
是对方的1.8倍
$225.0M
营收增速更快
ROCK
高出22.9%
2.1%
自由现金流更多
HESM
多$152.7M
$26.2M
两年增速更快
HESM
近两年复合增速
-12.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $404.2M | $225.0M |
| 净利润 | $93.3M | — |
| 毛利率 | — | 25.3% |
| 营业利润率 | 62.2% | 7.9% |
| 净利率 | 23.1% | — |
| 营收同比 | 2.1% | 24.9% |
| 净利润同比 | 32.5% | — |
| 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HESMROCK
| Q4 25 | $404.2M | $225.0M | ||
| Q3 25 | $420.9M | $310.9M | ||
| Q2 25 | $414.2M | $309.5M | ||
| Q1 25 | $382.0M | $290.0M | ||
| Q4 24 | $395.9M | $180.1M | ||
| Q3 24 | $378.5M | $277.1M | ||
| Q2 24 | $365.5M | $273.6M | ||
| Q1 24 | $355.6M | $292.5M |
净利润HESMROCK
| Q4 25 | $93.3M | — | ||
| Q3 25 | $97.7M | $-89.1M | ||
| Q2 25 | $90.3M | $26.0M | ||
| Q1 25 | $71.6M | $21.1M | ||
| Q4 24 | $70.4M | — | ||
| Q3 24 | $58.6M | $34.0M | ||
| Q2 24 | $49.5M | $32.2M | ||
| Q1 24 | $44.6M | $24.9M |
毛利率HESMROCK
| Q4 25 | — | 25.3% | ||
| Q3 25 | — | 26.6% | ||
| Q2 25 | — | 28.4% | ||
| Q1 25 | — | 26.8% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 30.5% | ||
| Q1 24 | — | 28.9% |
营业利润率HESMROCK
| Q4 25 | 62.2% | 7.9% | ||
| Q3 25 | 61.5% | 12.8% | ||
| Q2 25 | 62.8% | 12.8% | ||
| Q1 25 | 62.1% | 8.8% | ||
| Q4 24 | 61.4% | 13.3% | ||
| Q3 24 | 61.2% | 15.6% | ||
| Q2 24 | 60.8% | 14.9% | ||
| Q1 24 | 62.4% | 10.8% |
净利率HESMROCK
| Q4 25 | 23.1% | — | ||
| Q3 25 | 23.2% | -28.6% | ||
| Q2 25 | 21.8% | 8.4% | ||
| Q1 25 | 18.7% | 7.3% | ||
| Q4 24 | 17.8% | — | ||
| Q3 24 | 15.5% | 12.3% | ||
| Q2 24 | 13.5% | 11.8% | ||
| Q1 24 | 12.5% | 8.5% |
每股收益（稀释后）HESMROCK
| Q4 25 | — | — | ||
| Q3 25 | — | $-2.98 | ||
| Q2 25 | — | $0.87 | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.11 | ||
| Q2 24 | — | $1.05 | ||
| 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 | $115.7M |
| 总债务越低越好 | $3.8B | $0 |
| 股东权益账面价值 | — | $950.4M |
| 总资产 | $4.4B | $1.4B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资HESMROCK
| Q4 25 | $1.9M | $115.7M | ||
| Q3 25 | $5.5M | $89.4M | ||
| Q2 25 | $4.5M | $43.3M | ||
| Q1 25 | $6.1M | $25.1M | ||
| Q4 24 | $4.3M | $269.5M | ||
| Q3 24 | $10.3M | $228.9M | ||
| Q2 24 | $99.6M | $179.1M | ||
| Q1 24 | $4.2M | $146.7M |
总债务HESMROCK
| Q4 25 | $3.8B | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | $3.5B | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $0 |
股东权益HESMROCK
| Q4 25 | — | $950.4M | ||
| Q3 25 | — | $951.8M | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $975.7M | ||
| Q1 24 | — | $940.2M |
总资产HESMROCK
| Q4 25 | $4.4B | $1.4B | ||
| Q3 25 | $4.4B | $1.4B | ||
| Q2 25 | $4.4B | $1.5B | ||
| Q1 25 | $4.3B | $1.4B | ||
| Q4 24 | $4.2B | $1.4B | ||
| Q3 24 | $4.1B | $1.4B | ||
| Q2 24 | $4.1B | $1.4B | ||
| Q1 24 | $3.9B | $1.3B |
负债/权益比HESMROCK
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $35.5M |
| 自由现金流经营现金流 - 资本支出 | $178.9M | $26.2M |
| 自由现金流率自由现金流/营收 | 44.3% | 11.7% |
| 资本支出强度资本支出/营收 | 16.5% | 4.1% |
| 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 | $120.6M |
8季度趋势，按日历期对齐
经营现金流HESMROCK
| Q4 25 | $245.6M | $35.5M | ||
| Q3 25 | $258.9M | $73.0M | ||
| Q2 25 | $276.9M | $44.9M | ||
| Q1 25 | $202.4M | $13.7M | ||
| Q4 24 | $258.5M | $19.9M | ||
| Q3 24 | $224.9M | $64.7M | ||
| Q2 24 | $271.6M | $36.5M | ||
| Q1 24 | $185.3M | $53.2M |
自由现金流HESMROCK
| Q4 25 | $178.9M | $26.2M | ||
| Q3 25 | $178.9M | $64.8M | ||
| Q2 25 | $213.5M | $27.3M | ||
| Q1 25 | $156.9M | $2.3M | ||
| Q4 24 | $163.4M | $14.1M | ||
| Q3 24 | $132.6M | $60.5M | ||
| Q2 24 | $207.7M | $33.5M | ||
| Q1 24 | $130.5M | $48.8M |
自由现金流率HESMROCK
| Q4 25 | 44.3% | 11.7% | ||
| Q3 25 | 42.5% | 20.8% | ||
| Q2 25 | 51.5% | 8.8% | ||
| Q1 25 | 41.1% | 0.8% | ||
| Q4 24 | 41.3% | 7.8% | ||
| Q3 24 | 35.0% | 21.8% | ||
| Q2 24 | 56.8% | 12.2% | ||
| Q1 24 | 36.7% | 16.7% |
资本支出强度HESMROCK
| Q4 25 | 16.5% | 4.1% | ||
| Q3 25 | 19.0% | 2.6% | ||
| Q2 25 | 15.3% | 5.7% | ||
| Q1 25 | 11.9% | 3.9% | ||
| Q4 24 | 24.0% | 3.3% | ||
| Q3 24 | 24.4% | 1.5% | ||
| Q2 24 | 17.5% | 1.1% | ||
| Q1 24 | 15.4% | 1.5% |
现金转化率HESMROCK
| Q4 25 | 2.63× | — | ||
| Q3 25 | 2.65× | — | ||
| Q2 25 | 3.07× | 1.73× | ||
| Q1 25 | 2.83× | 0.65× | ||
| Q4 24 | 3.67× | — | ||
| Q3 24 | 3.84× | 1.90× | ||
| Q2 24 | 5.49× | 1.13× | ||
| Q1 24 | 4.15× | 2.13× |
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% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
