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Hess Midstream LP（HESM）与TALOS ENERGY INC.（TALO）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TALOS ENERGY INC.的1.0倍（$404.2M vs $392.2M），Hess Midstream LP净利率更高（23.1% vs -51.6%，领先74.7%），Hess Midstream LP同比增速更快（2.1% vs -19.2%），过去两年Hess Midstream LP的营收复合增速更高（6.6% vs -4.5%）
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。
塔洛斯能源是一家专注于油气领域的企业，主要在美国墨西哥湾沿岸及墨西哥湾区域开展石油、天然气资产的勘探、开发与生产运营业务，在离岸油气资源开发领域拥有成熟的项目运营经验与技术储备。
HESM vs TALO — 直观对比
营收规模更大
HESM
是对方的1.0倍
$392.2M
营收增速更快
HESM
高出21.3%
-19.2%
净利率更高
HESM
高出74.7%
-51.6%
两年增速更快
HESM
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $404.2M | $392.2M |
| 净利润 | $93.3M | $-202.6M |
| 毛利率 | — | — |
| 营业利润率 | 62.2% | -62.2% |
| 净利率 | 23.1% | -51.6% |
| 营收同比 | 2.1% | -19.2% |
| 净利润同比 | 32.5% | -214.0% |
| 每股收益（稀释后） | — | $-1.17 |
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HESMTALO
| Q4 25 | $404.2M | $392.2M | ||
| Q3 25 | $420.9M | $450.1M | ||
| Q2 25 | $414.2M | $424.7M | ||
| Q1 25 | $382.0M | $513.1M | ||
| Q4 24 | $395.9M | $485.2M | ||
| Q3 24 | $378.5M | $509.3M | ||
| Q2 24 | $365.5M | $549.2M | ||
| Q1 24 | $355.6M | $429.9M |
净利润HESMTALO
| Q4 25 | $93.3M | $-202.6M | ||
| Q3 25 | $97.7M | $-95.9M | ||
| Q2 25 | $90.3M | $-185.9M | ||
| Q1 25 | $71.6M | $-9.9M | ||
| Q4 24 | $70.4M | $-64.5M | ||
| Q3 24 | $58.6M | $88.2M | ||
| Q2 24 | $49.5M | $12.4M | ||
| Q1 24 | $44.6M | $-112.4M |
营业利润率HESMTALO
| Q4 25 | 62.2% | -62.2% | ||
| Q3 25 | 61.5% | -19.1% | ||
| Q2 25 | 62.8% | -64.4% | ||
| Q1 25 | 62.1% | 8.5% | ||
| Q4 24 | 61.4% | 5.6% | ||
| Q3 24 | 61.2% | 4.6% | ||
| Q2 24 | 60.8% | 9.9% | ||
| Q1 24 | 62.4% | 15.8% |
净利率HESMTALO
| Q4 25 | 23.1% | -51.6% | ||
| Q3 25 | 23.2% | -21.3% | ||
| Q2 25 | 21.8% | -43.8% | ||
| Q1 25 | 18.7% | -1.9% | ||
| Q4 24 | 17.8% | -13.3% | ||
| Q3 24 | 15.5% | 17.3% | ||
| Q2 24 | 13.5% | 2.3% | ||
| Q1 24 | 12.5% | -26.2% |
每股收益（稀释后）HESMTALO
| Q4 25 | — | $-1.17 | ||
| Q3 25 | — | $-0.55 | ||
| Q2 25 | — | $-1.05 | ||
| Q1 25 | — | $-0.05 | ||
| Q4 24 | — | $-0.29 | ||
| Q3 24 | — | $0.49 | ||
| Q2 24 | — | $0.07 | ||
| Q1 24 | — | $-0.71 |
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 | $362.8M |
| 总债务越低越好 | $3.8B | $1.2B |
| 股东权益账面价值 | — | $2.2B |
| 总资产 | $4.4B | $5.6B |
| 负债/权益比越低杠杆越低 | — | 0.57× |
8季度趋势，按日历期对齐
现金及短期投资HESMTALO
| Q4 25 | $1.9M | $362.8M | ||
| Q3 25 | $5.5M | $332.7M | ||
| Q2 25 | $4.5M | $357.3M | ||
| Q1 25 | $6.1M | $202.9M | ||
| Q4 24 | $4.3M | $108.2M | ||
| Q3 24 | $10.3M | $45.5M | ||
| Q2 24 | $99.6M | $37.8M | ||
| Q1 24 | $4.2M | $21.0M |
总债务HESMTALO
| Q4 25 | $3.8B | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $3.5B | $1.2B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.5B |
股东权益HESMTALO
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.8B |
总资产HESMTALO
| Q4 25 | $4.4B | $5.6B | ||
| Q3 25 | $4.4B | $5.7B | ||
| Q2 25 | $4.4B | $5.9B | ||
| Q1 25 | $4.3B | $6.1B | ||
| Q4 24 | $4.2B | $6.2B | ||
| Q3 24 | $4.1B | $6.4B | ||
| Q2 24 | $4.1B | $6.4B | ||
| Q1 24 | $3.9B | $6.4B |
负债/权益比HESMTALO
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.49× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 0.44× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.56× |
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 | $201.8M |
| 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× | — |
| 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HESMTALO
| Q4 25 | $245.6M | $201.8M | ||
| Q3 25 | $258.9M | $114.2M | ||
| Q2 25 | $276.9M | $351.6M | ||
| Q1 25 | $202.4M | $268.2M | ||
| Q4 24 | $258.5M | $349.3M | ||
| Q3 24 | $224.9M | $227.5M | ||
| Q2 24 | $271.6M | $289.4M | ||
| Q1 24 | $185.3M | $96.4M |
自由现金流HESMTALO
| 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HESMTALO
| 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HESMTALO
| 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HESMTALO
| Q4 25 | 2.63× | — | ||
| Q3 25 | 2.65× | — | ||
| Q2 25 | 3.07× | — | ||
| Q1 25 | 2.83× | — | ||
| Q4 24 | 3.67× | — | ||
| Q3 24 | 3.84× | 2.58× | ||
| Q2 24 | 5.49× | 23.37× | ||
| 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% |
TALO
| Oil And Condensate | $346.3M | 88% |
| Natural Gas Production | $36.0M | 9% |
| Natural Gas Liquids Reserves | $10.0M | 3% |
