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Lumen Technologies, Inc.（LUMN）与Murphy USA Inc.（MUSA）财务数据对比。点击上方公司名可切换其他公司
Murphy USA Inc.的季度营收约是Lumen Technologies, Inc.的1.7倍（$4.7B vs $2.7B），Murphy USA Inc.净利率更高（3.0% vs -0.1%，领先3.1%），Murphy USA Inc.同比增速更快（0.7% vs -11.0%），Murphy USA Inc.自由现金流更多（$128.8M vs $-1.1B），过去两年Murphy USA Inc.的营收复合增速更高（-1.0% vs -5.3%）
Lumen Technologies是总部位于美国路易斯安那州门罗市的电信企业，依托自有光纤、铜线网络、数据中心及云计算资源，为客户提供网络、安全、云、语音及各类托管通信服务，2023年3月起纳入标普600指数，此前曾为标普500指数成分股。
墨菲美国是总部位于美国阿肯色州埃尔多拉多的企业，2013年由墨菲石油分拆后独立运营，主营连锁零售加油站业务，旗下站点大多毗邻沃尔玛门店开设，为消费者提供燃油及配套零售服务。
LUMN vs MUSA — 直观对比
营收规模更大
MUSA
是对方的1.7倍
$2.7B
营收增速更快
MUSA
高出11.7%
-11.0%
净利率更高
MUSA
高出3.1%
-0.1%
自由现金流更多
MUSA
多$1.2B
$-1.1B
两年增速更快
MUSA
近两年复合增速
-5.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $4.7B |
| 净利润 | $-2.0M | $141.9M |
| 毛利率 | 40.7% | — |
| 营业利润率 | -7.3% | 4.4% |
| 净利率 | -0.1% | 3.0% |
| 营收同比 | -11.0% | 0.7% |
| 净利润同比 | -102.4% | -0.4% |
| 每股收益（稀释后） | $-0.01 | $7.35 |
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LUMNMUSA
| Q4 25 | $2.7B | $4.7B | ||
| Q3 25 | $2.8B | $5.1B | ||
| Q2 25 | $2.9B | $5.0B | ||
| Q1 25 | $2.9B | $4.5B | ||
| Q4 24 | $3.1B | $4.7B | ||
| Q3 24 | $3.0B | $5.2B | ||
| Q2 24 | $3.0B | $5.5B | ||
| Q1 24 | $3.1B | $4.8B |
净利润LUMNMUSA
| Q4 25 | $-2.0M | $141.9M | ||
| Q3 25 | $-621.0M | $129.9M | ||
| Q2 25 | $-915.0M | $145.6M | ||
| Q1 25 | $-201.0M | $53.2M | ||
| Q4 24 | $85.0M | $142.5M | ||
| Q3 24 | $-148.0M | $149.2M | ||
| Q2 24 | $-49.0M | $144.8M | ||
| Q1 24 | $57.0M | $66.0M |
毛利率LUMNMUSA
| Q4 25 | 40.7% | — | ||
| Q3 25 | 39.4% | — | ||
| Q2 25 | 43.4% | — | ||
| Q1 25 | 42.0% | — | ||
| Q4 24 | 44.7% | — | ||
| Q3 24 | 43.0% | — | ||
| Q2 24 | 45.2% | — | ||
| Q1 24 | 46.0% | — |
营业利润率LUMNMUSA
| Q4 25 | -7.3% | 4.4% | ||
| Q3 25 | -4.1% | 3.9% | ||
| Q2 25 | -21.0% | 4.4% | ||
| Q1 25 | 3.7% | 1.9% | ||
| Q4 24 | 5.0% | 4.2% | ||
| Q3 24 | 4.2% | 4.2% | ||
| Q2 24 | 4.5% | 4.0% | ||
| Q1 24 | 1.5% | 2.2% |
净利率LUMNMUSA
| Q4 25 | -0.1% | 3.0% | ||
| Q3 25 | -22.1% | 2.5% | ||
| Q2 25 | -31.9% | 2.9% | ||
| Q1 25 | -6.9% | 1.2% | ||
| Q4 24 | 2.8% | 3.0% | ||
| Q3 24 | -5.0% | 2.8% | ||
| Q2 24 | -1.6% | 2.7% | ||
| Q1 24 | 1.9% | 1.4% |
每股收益（稀释后）LUMNMUSA
| Q4 25 | $-0.01 | $7.35 | ||
| Q3 25 | $-0.62 | $6.76 | ||
| Q2 25 | $-0.92 | $7.36 | ||
| Q1 25 | $-0.20 | $2.63 | ||
| Q4 24 | $0.08 | $6.87 | ||
| Q3 24 | $-0.15 | $7.20 | ||
| Q2 24 | $-0.05 | $6.92 | ||
| Q1 24 | $0.06 | $3.12 |
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 | $1.0B | $28.9M |
| 总债务越低越好 | $17.4B | $2.2B |
| 股东权益账面价值 | $-1.1B | $623.5M |
| 总资产 | $34.3B | $4.7B |
| 负债/权益比越低杠杆越低 | — | 3.47× |
8季度趋势，按日历期对齐
现金及短期投资LUMNMUSA
| Q4 25 | $1.0B | $28.9M | ||
| Q3 25 | $2.4B | $42.8M | ||
| Q2 25 | $1.6B | $54.1M | ||
| Q1 25 | $1.9B | $49.4M | ||
| Q4 24 | $1.9B | $47.0M | ||
| Q3 24 | $2.6B | $52.5M | ||
| Q2 24 | $1.5B | $79.8M | ||
| Q1 24 | $1.6B | $56.7M |
总债务LUMNMUSA
| Q4 25 | $17.4B | $2.2B | ||
| Q3 25 | $17.6B | $2.2B | ||
| Q2 25 | $17.6B | $2.1B | ||
| Q1 25 | $17.3B | $2.0B | ||
| Q4 24 | $17.5B | $1.8B | ||
| Q3 24 | $18.1B | $1.8B | ||
| Q2 24 | $18.4B | $1.8B | ||
| Q1 24 | $18.6B | $1.8B |
股东权益LUMNMUSA
| Q4 25 | $-1.1B | $623.5M | ||
| Q3 25 | $-1.2B | $546.0M | ||
| Q2 25 | $-595.0M | $646.1M | ||
| Q1 25 | $289.0M | $719.6M | ||
| Q4 24 | $464.0M | $840.1M | ||
| Q3 24 | $342.0M | $830.1M | ||
| Q2 24 | $466.0M | $811.3M | ||
| Q1 24 | $504.0M | $781.6M |
总资产LUMNMUSA
| Q4 25 | $34.3B | $4.7B | ||
| Q3 25 | $34.3B | $4.7B | ||
| Q2 25 | $33.0B | $4.6B | ||
| Q1 25 | $33.5B | $4.5B | ||
| Q4 24 | $33.5B | $4.5B | ||
| Q3 24 | $34.0B | $4.4B | ||
| Q2 24 | $32.9B | $4.4B | ||
| Q1 24 | $33.2B | $4.3B |
负债/权益比LUMNMUSA
| Q4 25 | — | 3.47× | ||
| Q3 25 | — | 4.07× | ||
| Q2 25 | — | 3.20× | ||
| Q1 25 | 59.98× | 2.74× | ||
| Q4 24 | 37.70× | 2.18× | ||
| Q3 24 | 53.05× | 2.19× | ||
| Q2 24 | 39.51× | 2.20× | ||
| Q1 24 | 36.89× | 2.28× |
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 | $562.0M | $245.5M |
| 自由现金流经营现金流 - 资本支出 | $-1.1B | $128.8M |
| 自由现金流率自由现金流/营收 | -39.4% | 2.7% |
| 资本支出强度资本支出/营收 | 59.9% | 2.5% |
| 现金转化率经营现金流/净利润 | — | 1.73× |
| 过去12个月自由现金流最近4个季度 | $371.0M | $374.3M |
8季度趋势，按日历期对齐
经营现金流LUMNMUSA
| Q4 25 | $562.0M | $245.5M | ||
| Q3 25 | $2.5B | $184.8M | ||
| Q2 25 | $570.0M | $255.1M | ||
| Q1 25 | $1.1B | $128.5M | ||
| Q4 24 | $688.0M | $248.7M | ||
| Q3 24 | $2.0B | $202.1M | ||
| Q2 24 | $511.0M | $260.8M | ||
| Q1 24 | $1.1B | $136.0M |
自由现金流LUMNMUSA
| Q4 25 | $-1.1B | $128.8M | ||
| Q3 25 | $1.5B | $67.7M | ||
| Q2 25 | $-321.0M | $137.1M | ||
| Q1 25 | $304.0M | $40.7M | ||
| Q4 24 | $-227.0M | $121.7M | ||
| Q3 24 | $1.2B | $65.2M | ||
| Q2 24 | $-242.0M | $142.8M | ||
| Q1 24 | $389.0M | $59.8M |
自由现金流率LUMNMUSA
| Q4 25 | -39.4% | 2.7% | ||
| Q3 25 | 52.4% | 1.3% | ||
| Q2 25 | -11.2% | 2.7% | ||
| Q1 25 | 10.4% | 0.9% | ||
| Q4 24 | -7.4% | 2.6% | ||
| Q3 24 | 39.8% | 1.2% | ||
| Q2 24 | -8.0% | 2.6% | ||
| Q1 24 | 12.7% | 1.2% |
资本支出强度LUMNMUSA
| Q4 25 | 59.9% | 2.5% | ||
| Q3 25 | 37.1% | 2.3% | ||
| Q2 25 | 31.1% | 2.4% | ||
| Q1 25 | 27.2% | 1.9% | ||
| Q4 24 | 29.7% | 2.7% | ||
| Q3 24 | 28.6% | 2.6% | ||
| Q2 24 | 25.0% | 2.2% | ||
| Q1 24 | 23.3% | 1.6% |
现金转化率LUMNMUSA
| Q4 25 | — | 1.73× | ||
| Q3 25 | — | 1.42× | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 2.42× | ||
| Q4 24 | 8.09× | 1.75× | ||
| Q3 24 | — | 1.35× | ||
| Q2 24 | — | 1.80× | ||
| Q1 24 | 19.33× | 2.06× |
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
LUMN
| Large Enterprise | $758.0M | 28% |
| Wholesale | $661.0M | 24% |
| Mid Market Enterprise | $472.0M | 17% |
| Fiber Broadband | $232.0M | 8% |
| Other Broadband | $218.0M | 8% |
| Other | $184.0M | 7% |
| Voice And Other | $166.0M | 6% |
| International And Other | $77.0M | 3% |
MUSA
| Product Sales Petroleum Retail | $3.3B | 69% |
| Merchandise | $1.1B | 23% |
| Product Sales Petroleum Wholesale | $327.9M | 7% |
| Other | $57.0M | 1% |
| Renewable Identification Numbers | $55.3M | 1% |
| Revenue Other | $1.3M | 0% |
