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诺唯真游轮控股（LINE）与MPLX LP（MPLX）财务数据对比。点击上方公司名可切换其他公司
MPLX LP的季度营收约是诺唯真游轮控股的1.8倍（$2.5B vs $1.4B），MPLX LP净利率更高（49.1% vs -7.3%，领先56.3%），诺唯真游轮控股同比增速更快（3.1% vs 1.4%），MPLX LP自由现金流更多（$782.0M vs $35.0M）
诺唯真游轮控股是一家总部位于美国、注册地为百慕大的企业，旗下全资运营诺唯真游轮、大洋游轮、丽晶七海游轮三大品牌，合并业务规模位列全球游轮运营商第三位，目前在纽约证券交易所挂牌上市。
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。
LINE vs MPLX — 直观对比
营收规模更大
MPLX
是对方的1.8倍
$1.4B
营收增速更快
LINE
高出1.7%
1.4%
净利率更高
MPLX
高出56.3%
-7.3%
自由现金流更多
MPLX
多$747.0M
$35.0M
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.5B |
| 净利润 | $-100.0M | $1.2B |
| 毛利率 | 32.3% | — |
| 营业利润率 | 2.5% | 60.5% |
| 净利率 | -7.3% | 49.1% |
| 营收同比 | 3.1% | 1.4% |
| 净利润同比 | 79.4% | 8.5% |
| 每股收益（稀释后） | $-0.44 | — |
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LINEMPLX
| Q4 25 | — | $2.5B | ||
| Q3 25 | $1.4B | $2.5B | ||
| Q2 25 | $1.4B | $2.4B | ||
| Q1 25 | $1.3B | $2.5B | ||
| Q4 24 | $1.3B | $2.4B | ||
| Q3 24 | $1.3B | $2.3B | ||
| Q2 24 | $1.3B | $2.3B | ||
| Q1 24 | $1.3B | $2.2B |
净利润LINEMPLX
| Q4 25 | — | $1.2B | ||
| Q3 25 | $-100.0M | $1.6B | ||
| Q2 25 | $-6.0M | $1.1B | ||
| Q1 25 | $0 | $1.1B | ||
| Q4 24 | $-71.0M | $1.1B | ||
| Q3 24 | $-485.0M | $1.0B | ||
| Q2 24 | $-68.0M | $1.2B | ||
| Q1 24 | $-40.0M | $1.0B |
毛利率LINEMPLX
| Q4 25 | — | — | ||
| Q3 25 | 32.3% | — | ||
| Q2 25 | 31.9% | — | ||
| Q1 25 | 32.2% | — | ||
| Q4 24 | 32.3% | — | ||
| Q3 24 | 32.8% | — | ||
| Q2 24 | 33.4% | — | ||
| Q1 24 | 33.4% | — |
营业利润率LINEMPLX
| Q4 25 | — | 60.5% | ||
| Q3 25 | 2.5% | 73.2% | ||
| Q2 25 | 1.7% | 54.9% | ||
| Q1 25 | 4.3% | 55.5% | ||
| Q4 24 | -1.6% | 55.6% | ||
| Q3 24 | -38.6% | 54.4% | ||
| Q2 24 | 5.5% | 62.9% | ||
| Q1 24 | 7.6% | 57.6% |
净利率LINEMPLX
| Q4 25 | — | 49.1% | ||
| Q3 25 | -7.3% | 63.2% | ||
| Q2 25 | -0.4% | 44.9% | ||
| Q1 25 | — | 46.2% | ||
| Q4 24 | -5.3% | 45.9% | ||
| Q3 24 | -36.3% | 44.6% | ||
| Q2 24 | -5.1% | 52.6% | ||
| Q1 24 | -3.0% | 46.7% |
每股收益（稀释后）LINEMPLX
| Q4 25 | — | — | ||
| Q3 25 | $-0.44 | — | ||
| Q2 25 | $-0.03 | — | ||
| Q1 25 | $0.01 | — | ||
| Q4 24 | $-0.52 | — | ||
| Q3 24 | $-2.44 | — | ||
| Q2 24 | $-0.46 | — | ||
| Q1 24 | $-0.28 | — |
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 | — | $2.1B |
| 总债务越低越好 | — | $24.2B |
| 股东权益账面价值 | $8.4B | — |
| 总资产 | $19.2B | $43.0B |
| 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LINEMPLX
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | $173.0M | $1.5B | ||
| Q3 24 | $409.0M | $2.4B | ||
| Q2 24 | $73.0M | $2.5B | ||
| Q1 24 | — | $385.0M |
总债务LINEMPLX
| Q4 25 | — | $24.2B | ||
| Q3 25 | — | $24.1B | ||
| Q2 25 | — | $19.7B | ||
| Q1 25 | — | $19.7B | ||
| Q4 24 | — | $19.3B | ||
| Q3 24 | — | $19.3B | ||
| Q2 24 | — | $19.2B | ||
| Q1 24 | — | $18.8B |
股东权益LINEMPLX
| Q4 25 | — | — | ||
| Q3 25 | $8.4B | — | ||
| Q2 25 | $8.6B | — | ||
| Q1 25 | $8.6B | — | ||
| Q4 24 | $8.6B | — | ||
| Q3 24 | $9.0B | — | ||
| Q2 24 | $4.9B | — | ||
| Q1 24 | $5.6B | — |
总资产LINEMPLX
| Q4 25 | — | $43.0B | ||
| Q3 25 | $19.2B | $43.2B | ||
| Q2 25 | $19.4B | $37.8B | ||
| Q1 25 | $18.8B | $39.0B | ||
| Q4 24 | $18.7B | $37.5B | ||
| Q3 24 | $19.3B | $38.5B | ||
| Q2 24 | $18.8B | $38.4B | ||
| Q1 24 | — | $36.5B |
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 | $230.0M | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $35.0M | $782.0M |
| 自由现金流率自由现金流/营收 | 2.5% | 31.9% |
| 资本支出强度资本支出/营收 | 14.2% | 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LINEMPLX
| Q4 25 | — | $1.5B | ||
| Q3 25 | $230.0M | $1.4B | ||
| Q2 25 | $258.0M | $1.7B | ||
| Q1 25 | $139.0M | $1.2B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $186.0M | $1.4B | ||
| Q2 24 | $155.0M | $1.6B | ||
| Q1 24 | $105.0M | $1.3B |
自由现金流LINEMPLX
| Q4 25 | — | $782.0M | ||
| Q3 25 | $35.0M | $905.0M | ||
| Q2 25 | $95.0M | $1.4B | ||
| Q1 25 | $-12.0M | $979.0M | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | $33.0M | $1.1B | ||
| Q2 24 | $-31.0M | $1.4B | ||
| Q1 24 | $-42.0M | $1.0B |
自由现金流率LINEMPLX
| Q4 25 | — | 31.9% | ||
| Q3 25 | 2.5% | 36.8% | ||
| Q2 25 | 7.0% | 60.9% | ||
| Q1 25 | -0.9% | 39.8% | ||
| Q4 24 | — | 56.6% | ||
| Q3 24 | 2.5% | 48.4% | ||
| Q2 24 | -2.3% | 60.0% | ||
| Q1 24 | -3.2% | 47.7% |
资本支出强度LINEMPLX
| Q4 25 | — | 29.1% | ||
| Q3 25 | 14.2% | 21.4% | ||
| Q2 25 | 12.1% | 12.8% | ||
| Q1 25 | 11.7% | 10.9% | ||
| Q4 24 | — | 12.7% | ||
| Q3 24 | 11.5% | 11.9% | ||
| Q2 24 | 13.9% | 9.4% | ||
| Q1 24 | 11.1% | 11.7% |
现金转化率LINEMPLX
| Q4 25 | — | 1.24× | ||
| Q3 25 | — | 0.92× | ||
| Q2 25 | — | 1.64× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | — | 1.35× | ||
| Q2 24 | — | 1.32× | ||
| Q1 24 | — | 1.27× |
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
LINE
| Warehousing Operations | $883.0M | 64% |
| Other | $308.0M | 22% |
| Warehouse Lease | $60.0M | 4% |
| Food Sales | $52.0M | 4% |
| E Commerce And Other | $46.0M | 3% |
| Railcar Lease | $23.0M | 2% |
| Service Other | $5.0M | 0% |
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% |
