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金佰利（KMB）与MPLX LP（MPLX）财务数据对比。点击上方公司名可切换其他公司
金佰利的季度营收约是MPLX LP的1.7倍（$4.2B vs $2.5B），MPLX LP净利率更高（49.1% vs 16.2%，领先32.9%），金佰利同比增速更快（2.7% vs 1.4%），过去两年MPLX LP的营收复合增速更高（6.2% vs -9.0%）
金佰利是源自美国的跨国消费品及个人护理集团，主打纸质类消费品，同时生产卫生用纸制品、外科及医疗器具。旗下拥有舒洁面巾纸、高洁丝女性护理产品、好奇纸尿裤及婴儿湿巾、Scott卫生纸等知名品牌，产品销往全球多个国家和地区。
MPLX LP旗下子公司MarkWest Energy Partners是美国业主有限合伙企业，主营天然气收集、加工及运输业务。该公司1988年成立于科罗拉多州丹佛市，曾发展为科罗拉多州第13大企业，2015年被马拉松石油旗下的MPLX收购。
KMB vs MPLX — 直观对比
营收规模更大
KMB
是对方的1.7倍
$2.5B
营收增速更快
KMB
高出1.3%
1.4%
净利率更高
MPLX
高出32.9%
16.2%
两年增速更快
MPLX
近两年复合增速
-9.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $2.5B |
| 净利润 | $675.0M | $1.2B |
| 毛利率 | 36.8% | — |
| 营业利润率 | 18.1% | 60.5% |
| 净利率 | 16.2% | 49.1% |
| 营收同比 | 2.7% | 1.4% |
| 净利润同比 | 17.8% | 8.5% |
| 每股收益（稀释后） | $2.00 | — |
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KMBMPLX
| Q1 26 | $4.2B | — | ||
| Q4 25 | $3.3B | $2.5B | ||
| Q3 25 | $4.2B | $2.5B | ||
| Q2 25 | $4.2B | $2.4B | ||
| Q1 25 | $4.8B | $2.5B | ||
| Q4 24 | $4.9B | $2.4B | ||
| Q3 24 | $5.0B | $2.3B | ||
| Q2 24 | $5.0B | $2.3B |
净利润KMBMPLX
| Q1 26 | $675.0M | — | ||
| Q4 25 | $499.0M | $1.2B | ||
| Q3 25 | $446.0M | $1.6B | ||
| Q2 25 | $509.0M | $1.1B | ||
| Q1 25 | $567.0M | $1.1B | ||
| Q4 24 | $447.0M | $1.1B | ||
| Q3 24 | $907.0M | $1.0B | ||
| Q2 24 | $544.0M | $1.2B |
毛利率KMBMPLX
| Q1 26 | 36.8% | — | ||
| Q4 25 | 37.7% | — | ||
| Q3 25 | 36.0% | — | ||
| Q2 25 | 35.0% | — | ||
| Q1 25 | 35.8% | — | ||
| Q4 24 | 34.0% | — | ||
| Q3 24 | 36.0% | — | ||
| Q2 24 | 36.0% | — |
营业利润率KMBMPLX
| Q1 26 | 18.1% | — | ||
| Q4 25 | 11.2% | 60.5% | ||
| Q3 25 | 15.0% | 73.2% | ||
| Q2 25 | 14.2% | 54.9% | ||
| Q1 25 | 15.9% | 55.5% | ||
| Q4 24 | 11.1% | 55.6% | ||
| Q3 24 | 23.3% | 54.4% | ||
| Q2 24 | 13.0% | 62.9% |
净利率KMBMPLX
| Q1 26 | 16.2% | — | ||
| Q4 25 | 15.1% | 49.1% | ||
| Q3 25 | 10.7% | 63.2% | ||
| Q2 25 | 12.2% | 44.9% | ||
| Q1 25 | 11.7% | 46.2% | ||
| Q4 24 | 9.1% | 45.9% | ||
| Q3 24 | 18.3% | 44.6% | ||
| Q2 24 | 10.8% | 52.6% |
每股收益（稀释后）KMBMPLX
| Q1 26 | $2.00 | — | ||
| Q4 25 | $1.50 | — | ||
| Q3 25 | $1.34 | — | ||
| Q2 25 | $1.53 | — | ||
| Q1 25 | $1.70 | — | ||
| Q4 24 | $1.34 | — | ||
| Q3 24 | $2.69 | — | ||
| Q2 24 | $1.61 | — |
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 | $542.0K | $2.1B |
| 总债务越低越好 | $6.5M | $24.2B |
| 股东权益账面价值 | $1.9M | — |
| 总资产 | $17.2M | $43.0B |
| 负债/权益比越低杠杆越低 | 3.38× | — |
8季度趋势，按日历期对齐
现金及短期投资KMBMPLX
| Q1 26 | $542.0K | — | ||
| Q4 25 | $688.0M | $2.1B | ||
| Q3 25 | $617.0M | $1.8B | ||
| Q2 25 | $634.0M | $1.4B | ||
| Q1 25 | $563.0M | $2.5B | ||
| Q4 24 | $1.0B | $1.5B | ||
| Q3 24 | $1.1B | $2.4B | ||
| Q2 24 | $1.2B | $2.5B |
总债务KMBMPLX
| Q1 26 | $6.5M | — | ||
| Q4 25 | $6.5B | $24.2B | ||
| Q3 25 | $6.5B | $24.1B | ||
| Q2 25 | $6.5B | $19.7B | ||
| Q1 25 | $6.5B | $19.7B | ||
| Q4 24 | $6.9B | $19.3B | ||
| Q3 24 | $6.9B | $19.3B | ||
| Q2 24 | $7.2B | $19.2B |
股东权益KMBMPLX
| Q1 26 | $1.9M | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $840.0M | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.1B | — |
总资产KMBMPLX
| Q1 26 | $17.2M | — | ||
| Q4 25 | $17.1B | $43.0B | ||
| Q3 25 | $16.9B | $43.2B | ||
| Q2 25 | $16.8B | $37.8B | ||
| Q1 25 | $16.3B | $39.0B | ||
| Q4 24 | $16.5B | $37.5B | ||
| Q3 24 | $17.2B | $38.5B | ||
| Q2 24 | $17.3B | $38.4B |
负债/权益比KMBMPLX
| Q1 26 | 3.38× | — | ||
| Q4 25 | 4.31× | — | ||
| Q3 25 | 4.86× | — | ||
| Q2 25 | 5.09× | — | ||
| Q1 25 | 5.89× | — | ||
| Q4 24 | 8.18× | — | ||
| Q3 24 | 5.36× | — | ||
| Q2 24 | 6.30× | — |
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 | — | $1.5B |
| 自由现金流经营现金流 - 资本支出 | — | $782.0M |
| 自由现金流率自由现金流/营收 | — | 31.9% |
| 资本支出强度资本支出/营收 | — | 29.1% |
| 现金转化率经营现金流/净利润 | — | 1.24× |
| 过去12个月自由现金流最近4个季度 | — | $4.1B |
8季度趋势，按日历期对齐
经营现金流KMBMPLX
| Q1 26 | — | — | ||
| Q4 25 | $972.0M | $1.5B | ||
| Q3 25 | $708.0M | $1.4B | ||
| Q2 25 | $770.0M | $1.7B | ||
| Q1 25 | $327.0M | $1.2B | ||
| Q4 24 | $817.0M | $1.7B | ||
| Q3 24 | $958.0M | $1.4B | ||
| Q2 24 | $1.0B | $1.6B |
自由现金流KMBMPLX
| Q1 26 | — | — | ||
| Q4 25 | $575.0M | $782.0M | ||
| Q3 25 | $368.0M | $905.0M | ||
| Q2 25 | $573.0M | $1.4B | ||
| Q1 25 | $123.0M | $979.0M | ||
| Q4 24 | $608.0M | $1.4B | ||
| Q3 24 | $798.0M | $1.1B | ||
| Q2 24 | $863.0M | $1.4B |
自由现金流率KMBMPLX
| Q1 26 | — | — | ||
| Q4 25 | 17.5% | 31.9% | ||
| Q3 25 | 8.9% | 36.8% | ||
| Q2 25 | 13.8% | 60.9% | ||
| Q1 25 | 2.5% | 39.8% | ||
| Q4 24 | 12.3% | 56.6% | ||
| Q3 24 | 16.1% | 48.4% | ||
| Q2 24 | 17.2% | 60.0% |
资本支出强度KMBMPLX
| Q1 26 | — | — | ||
| Q4 25 | 12.1% | 29.1% | ||
| Q3 25 | 8.2% | 21.4% | ||
| Q2 25 | 4.7% | 12.8% | ||
| Q1 25 | 4.2% | 10.9% | ||
| Q4 24 | 4.2% | 12.7% | ||
| Q3 24 | 3.2% | 11.9% | ||
| Q2 24 | 3.1% | 9.4% |
现金转化率KMBMPLX
| Q1 26 | — | — | ||
| Q4 25 | 1.95× | 1.24× | ||
| Q3 25 | 1.59× | 0.92× | ||
| Q2 25 | 1.51× | 1.64× | ||
| Q1 25 | 0.58× | 1.10× | ||
| Q4 24 | 1.83× | 1.51× | ||
| Q3 24 | 1.06× | 1.35× | ||
| Q2 24 | 1.88× | 1.32× |
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
KMB
| NA | $2.7B | 64% |
| IPC | $1.5B | 36% |
MPLX
| Services | $746.0M | 30% |
| Other | $675.0M | 28% |
| Products | $492.0M | 20% |
| Nonrelated Party | $186.0M | 8% |
| Related Party | $151.0M | 6% |
| Crude Oil And Products Logistics | $104.0M | 4% |
| Service Other | $56.0M | 2% |
| Natural Gas And NGL Services | $41.0M | 2% |
