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金德摩根（KMI）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
金德摩根的季度营收约是标普全球的1.1倍（$4.8B vs $4.4B），标普全球净利率更高（26.8% vs 20.7%，领先6.1%），标普全球同比增速更快（191.7% vs 13.8%），过去两年标普全球的营收复合增速更高（77.3% vs 22.6%）
金德摩根是北美规模最大的能源基础设施企业之一，核心业务为油气管道、能源储运终端的持有与运营管理，服务网络覆盖北美主要油气产区及消费市场，为能源产业提供稳定可靠的基础设施配套服务。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
KMI vs VG — 直观对比
营收规模更大
KMI
是对方的1.1倍
$4.4B
营收增速更快
VG
高出177.8%
13.8%
净利率更高
VG
高出6.1%
20.7%
两年增速更快
VG
近两年复合增速
22.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.8B | $4.4B |
| 净利润 | $1.0B | $1.2B |
| 毛利率 | — | — |
| 营业利润率 | 29.9% | 38.7% |
| 净利率 | 20.7% | 26.8% |
| 营收同比 | 13.8% | 191.7% |
| 净利润同比 | 34.7% | 20.3% |
| 每股收益（稀释后） | $0.44 | $0.41 |
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KMIVG
| Q1 26 | $4.8B | — | ||
| Q4 25 | $4.0B | $4.4B | ||
| Q3 25 | $3.7B | $3.3B | ||
| Q2 25 | $3.6B | $3.1B | ||
| Q1 25 | $3.9B | $2.9B | ||
| Q4 24 | $3.6B | $1.5B | ||
| Q3 24 | $3.3B | $926.0M | ||
| Q2 24 | $3.2B | $1.1B |
净利润KMIVG
| Q1 26 | $1.0B | — | ||
| Q4 25 | $996.0M | $1.2B | ||
| Q3 25 | $628.0M | $550.0M | ||
| Q2 25 | $715.0M | $475.0M | ||
| Q1 25 | $717.0M | $517.0M | ||
| Q4 24 | $667.0M | $990.0M | ||
| Q3 24 | $625.0M | $-294.0M | ||
| Q2 24 | $575.0M | $352.0M |
营业利润率KMIVG
| Q1 26 | 29.9% | — | ||
| Q4 25 | 34.0% | 38.7% | ||
| Q3 25 | 28.6% | 39.7% | ||
| Q2 25 | 31.9% | 33.5% | ||
| Q1 25 | 29.6% | 37.3% | ||
| Q4 24 | 31.0% | 39.0% | ||
| Q3 24 | 30.9% | 20.4% | ||
| Q2 24 | 32.3% | 32.8% |
净利率KMIVG
| Q1 26 | 20.7% | — | ||
| Q4 25 | 24.8% | 26.8% | ||
| Q3 25 | 16.9% | 16.5% | ||
| Q2 25 | 19.8% | 15.3% | ||
| Q1 25 | 18.6% | 17.9% | ||
| Q4 24 | 18.7% | 65.0% | ||
| Q3 24 | 19.0% | -31.7% | ||
| Q2 24 | 17.9% | 31.8% |
每股收益（稀释后）KMIVG
| Q1 26 | $0.44 | — | ||
| Q4 25 | $0.45 | $0.41 | ||
| Q3 25 | $0.28 | $0.16 | ||
| Q2 25 | $0.32 | $0.14 | ||
| Q1 25 | $0.32 | $0.15 | ||
| Q4 24 | $0.30 | $0.35 | ||
| Q3 24 | $0.28 | $-0.15 | ||
| Q2 24 | $0.26 | $0.12 |
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 | $72.0M | $2.4B |
| 总债务越低越好 | $31.9B | $34.2B |
| 股东权益账面价值 | $32.6B | $6.7B |
| 总资产 | $73.1B | $53.4B |
| 负债/权益比越低杠杆越低 | 0.98× | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资KMIVG
| Q1 26 | $72.0M | — | ||
| Q4 25 | $63.0M | $2.4B | ||
| Q3 25 | $71.0M | $1.9B | ||
| Q2 25 | $82.0M | $2.2B | ||
| Q1 25 | $80.0M | $3.6B | ||
| Q4 24 | $88.0M | $3.6B | ||
| Q3 24 | $108.0M | — | ||
| Q2 24 | $98.0M | — |
总债务KMIVG
| Q1 26 | $31.9B | — | ||
| Q4 25 | — | $34.2B | ||
| Q3 25 | — | $32.6B | ||
| Q2 25 | — | $30.0B | ||
| Q1 25 | — | $29.3B | ||
| Q4 24 | — | $29.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益KMIVG
| Q1 26 | $32.6B | — | ||
| Q4 25 | $31.2B | $6.7B | ||
| Q3 25 | $30.7B | $5.7B | ||
| Q2 25 | $30.8B | $5.3B | ||
| Q1 25 | $30.6B | $4.9B | ||
| Q4 24 | $30.5B | $2.9B | ||
| Q3 24 | $30.4B | — | ||
| Q2 24 | $30.3B | — |
总资产KMIVG
| Q1 26 | $73.1B | — | ||
| Q4 25 | $72.7B | $53.4B | ||
| Q3 25 | $72.3B | $50.1B | ||
| Q2 25 | $72.4B | $46.5B | ||
| Q1 25 | $72.3B | $45.1B | ||
| Q4 24 | $71.4B | $43.5B | ||
| Q3 24 | $70.9B | — | ||
| Q2 24 | $70.7B | — |
负债/权益比KMIVG
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | 5.07× | ||
| Q3 25 | — | 5.73× | ||
| Q2 25 | — | 5.69× | ||
| Q1 25 | — | 6.01× | ||
| Q4 24 | — | 10.11× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $2.1B |
| 自由现金流经营现金流 - 资本支出 | — | $-1.5B |
| 自由现金流率自由现金流/营收 | — | -34.1% |
| 资本支出强度资本支出/营收 | 16.7% | 81.6% |
| 现金转化率经营现金流/净利润 | — | 1.77× |
| 过去12个月自由现金流最近4个季度 | — | $-6.8B |
8季度趋势，按日历期对齐
经营现金流KMIVG
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $2.1B | ||
| Q3 25 | $1.4B | $1.9B | ||
| Q2 25 | $1.6B | $1.5B | ||
| Q1 25 | $1.2B | $1.1B | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.7B | — |
自由现金流KMIVG
| Q1 26 | — | — | ||
| Q4 25 | $872.0M | $-1.5B | ||
| Q3 25 | $621.0M | $-1.4B | ||
| Q2 25 | $1.0B | $-1.5B | ||
| Q1 25 | $396.0M | $-2.4B | ||
| Q4 24 | $738.0M | — | ||
| Q3 24 | $592.0M | — | ||
| Q2 24 | $1.1B | — |
自由现金流率KMIVG
| Q1 26 | — | — | ||
| Q4 25 | 21.7% | -34.1% | ||
| Q3 25 | 16.7% | -42.4% | ||
| Q2 25 | 27.8% | -49.1% | ||
| Q1 25 | 10.3% | -81.3% | ||
| Q4 24 | 20.7% | — | ||
| Q3 24 | 18.0% | — | ||
| Q2 24 | 34.4% | — |
资本支出强度KMIVG
| Q1 26 | 16.7% | — | ||
| Q4 25 | 20.4% | 81.6% | ||
| Q3 25 | 21.3% | 98.9% | ||
| Q2 25 | 17.9% | 96.1% | ||
| Q1 25 | 19.8% | 119.8% | ||
| Q4 24 | 21.6% | — | ||
| Q3 24 | 20.0% | — | ||
| Q2 24 | 18.1% | — |
现金转化率KMIVG
| Q1 26 | — | — | ||
| Q4 25 | 1.70× | 1.77× | ||
| Q3 25 | 2.25× | 3.42× | ||
| Q2 25 | 2.31× | 3.07× | ||
| Q1 25 | 1.62× | 2.15× | ||
| Q4 24 | 2.26× | — | ||
| Q3 24 | 2.00× | — | ||
| Q2 24 | 2.93× | — |
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
KMI
暂无分部数据
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
