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ICAHN ENTERPRISES L.P.（IEP）与Sunoco LP（SUN）财务数据对比。点击上方公司名可切换其他公司
Sunoco LP的季度营收约是ICAHN ENTERPRISES L.P.的3.2倍（$8.6B vs $2.7B）。Sunoco LP净利率更高（1.2% vs 0.0%，领先1.1%）。Sunoco LP同比增速更快（63.2% vs 5.4%）。过去两年Sunoco LP的营收复合增速更高（25.1% vs 4.5%）
伊坎企业有限合伙企业是美国上市的 Master 有限合伙企业与多元化集团，总部位于佛罗里达州阳光岛海滩的弥尔顿大厦。公司投资布局覆盖能源、汽车、食品包装、金属、房地产、家居时尚等多个领域，由知名投资人卡尔·伊坎控股，其持股比例达86%。
Sunoco LP是总部位于美国得克萨斯州达拉斯的业主有限合伙企业，在特拉华州注册成立，历史最早可追溯至1886年。公司最初为垂直一体化能源企业，现已转型为燃油分销商及能源基础设施运营商，此前曾涉足油气勘探开采、炼化、化工生产及燃油零售业务，目前上述业务均已剥离。
IEP vs SUN — 直观对比
营收规模更大
SUN
是对方的3.2倍
$2.7B
营收增速更快
SUN
高出57.9%
5.4%
净利率更高
SUN
高出1.1%
0.0%
两年增速更快
SUN
近两年复合增速
4.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $8.6B |
| 净利润 | $1.0M | $101.0M |
| 毛利率 | — | 10.7% |
| 营业利润率 | 0.6% | 2.1% |
| 净利率 | 0.0% | 1.2% |
| 营收同比 | 5.4% | 63.2% |
| 净利润同比 | 101.0% | -28.4% |
| 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IEPSUN
| Q4 25 | $2.7B | $8.6B | ||
| Q3 25 | $2.7B | $6.0B | ||
| Q2 25 | $2.4B | $5.4B | ||
| Q1 25 | $1.9B | $5.2B | ||
| Q4 24 | $2.6B | $5.3B | ||
| Q3 24 | $2.8B | $5.8B | ||
| Q2 24 | $2.2B | $6.2B | ||
| Q1 24 | $2.5B | $5.5B |
净利润IEPSUN
| Q4 25 | $1.0M | $101.0M | ||
| Q3 25 | $287.0M | $133.0M | ||
| Q2 25 | $-165.0M | $86.0M | ||
| Q1 25 | $-422.0M | $207.0M | ||
| Q4 24 | $-98.0M | $141.0M | ||
| Q3 24 | $22.0M | $2.0M | ||
| Q2 24 | $-331.0M | $493.0M | ||
| Q1 24 | $-38.0M | $230.0M |
毛利率IEPSUN
| Q4 25 | — | 10.7% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | — | 10.6% | ||
| Q1 25 | — | 12.6% | ||
| Q4 24 | — | 11.9% | ||
| Q3 24 | — | 7.4% | ||
| Q2 24 | — | 9.2% | ||
| Q1 24 | — | 8.8% |
营业利润率IEPSUN
| Q4 25 | 0.6% | 2.1% | ||
| Q3 25 | 19.7% | 4.2% | ||
| Q2 25 | -10.4% | 3.8% | ||
| Q1 25 | -35.0% | 5.7% | ||
| Q4 24 | -5.2% | 4.5% | ||
| Q3 24 | 2.4% | 1.9% | ||
| Q2 24 | -21.9% | 2.4% | ||
| Q1 24 | -0.8% | 5.4% |
净利率IEPSUN
| Q4 25 | 0.0% | 1.2% | ||
| Q3 25 | 10.5% | 2.2% | ||
| Q2 25 | -7.0% | 1.6% | ||
| Q1 25 | -22.6% | 4.0% | ||
| Q4 24 | -3.8% | 2.7% | ||
| Q3 24 | 0.8% | 0.0% | ||
| Q2 24 | -15.0% | 8.0% | ||
| Q1 24 | -1.5% | 4.2% |
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 | $1.4B | $891.0M |
| 总债务越低越好 | — | $13.4B |
| 股东权益账面价值 | — | — |
| 总资产 | $14.2B | $28.4B |
| 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IEPSUN
| Q4 25 | $1.4B | $891.0M | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.6B | $94.0M | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.2B | — | ||
| Q1 24 | $2.5B | — |
总债务IEPSUN
| Q4 25 | — | $13.4B | ||
| Q3 25 | — | $9.5B | ||
| Q2 25 | — | $7.8B | ||
| Q1 25 | — | $7.7B | ||
| Q4 24 | — | $7.5B | ||
| Q3 24 | — | $7.3B | ||
| Q2 24 | — | $7.3B | ||
| Q1 24 | — | $3.8B |
总资产IEPSUN
| Q4 25 | $14.2B | $28.4B | ||
| Q3 25 | $14.8B | $17.8B | ||
| Q2 25 | $14.8B | $14.4B | ||
| Q1 25 | $15.5B | $14.3B | ||
| Q4 24 | $16.3B | $14.4B | ||
| Q3 24 | $17.4B | $14.1B | ||
| Q2 24 | $18.0B | $14.5B | ||
| Q1 24 | $20.1B | $7.4B |
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 | $-421.0M | $392.0M |
| 自由现金流经营现金流 - 资本支出 | $-496.0M | — |
| 自由现金流率自由现金流/营收 | -18.4% | — |
| 资本支出强度资本支出/营收 | 2.8% | — |
| 现金转化率经营现金流/净利润 | -421.00× | 3.88× |
| 过去12个月自由现金流最近4个季度 | $-654.0M | — |
8季度趋势，按日历期对齐
经营现金流IEPSUN
| Q4 25 | $-421.0M | $392.0M | ||
| Q3 25 | $15.0M | $401.0M | ||
| Q2 25 | $275.0M | $243.0M | ||
| Q1 25 | $-182.0M | $156.0M | ||
| Q4 24 | $244.0M | $123.0M | ||
| Q3 24 | $-54.0M | $210.0M | ||
| Q2 24 | $893.0M | $-70.0M | ||
| Q1 24 | $-251.0M | $286.0M |
自由现金流IEPSUN
| Q4 25 | $-496.0M | — | ||
| Q3 25 | $-67.0M | $244.0M | ||
| Q2 25 | $179.0M | $83.0M | ||
| Q1 25 | $-270.0M | $55.0M | ||
| Q4 24 | $156.0M | — | ||
| Q3 24 | $-112.0M | $109.0M | ||
| Q2 24 | $827.0M | $-140.0M | ||
| Q1 24 | $-319.0M | $245.0M |
自由现金流率IEPSUN
| Q4 25 | -18.4% | — | ||
| Q3 25 | -2.5% | 4.0% | ||
| Q2 25 | 7.6% | 1.5% | ||
| Q1 25 | -14.5% | 1.1% | ||
| Q4 24 | 6.1% | — | ||
| Q3 24 | -4.0% | 1.9% | ||
| Q2 24 | 37.6% | -2.3% | ||
| Q1 24 | -12.9% | 4.5% |
资本支出强度IEPSUN
| Q4 25 | 2.8% | — | ||
| Q3 25 | 3.0% | 2.6% | ||
| Q2 25 | 4.1% | 3.0% | ||
| Q1 25 | 4.7% | 2.0% | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 2.1% | 1.8% | ||
| Q2 24 | 3.0% | 1.1% | ||
| Q1 24 | 2.8% | 0.7% |
现金转化率IEPSUN
| Q4 25 | -421.00× | 3.88× | ||
| Q3 25 | 0.05× | 3.02× | ||
| Q2 25 | — | 2.83× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 0.87× | ||
| Q3 24 | -2.45× | 105.00× | ||
| Q2 24 | — | -0.14× | ||
| Q1 24 | — | 1.24× |
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
IEP
| Public Utilities Inventory Petroleum Products | $1.6B | 61% |
| Other | $381.0M | 14% |
| Automotive Services | $345.0M | 13% |
| Nitrogen Fertilizer Products | $131.0M | 5% |
| Food Packaging Segment | $82.0M | 3% |
| Home Fashion Segment | $45.0M | 2% |
| Renewable Products | $32.0M | 1% |
| Pharma Segment | $23.0M | 1% |
| Holding Company | $11.0M | 0% |
SUN
| Fuel Distribution | $8.2B | 95% |
| Service Revenue | $440.0M | 5% |
| Lease Revenue | $40.0M | 0% |
| Lease Income | $12.0M | 0% |
