vs
Masco（MAS）与Western Midstream Partners, LP（WES）财务数据对比。点击上方公司名可切换其他公司
Masco的季度营收约是Western Midstream Partners, LP的1.9倍（$1.9B vs $1.0B），Western Midstream Partners, LP净利率更高（18.5% vs 11.9%，领先6.6%），Western Midstream Partners, LP同比增速更快（11.0% vs 6.5%），过去两年Western Midstream Partners, LP的营收复合增速更高（7.8% vs -4.2%）
美国家居建材企业Masco主营家装及新建住宅市场相关产品，旗下拥有20余家子公司，在全球运营近80座生产工厂，其中美国本土近60座，海外地区超20座。公司1969年于纽交所挂牌上市，后实现快速增长，成功跻身美国财富500强榜单。
Sunoco LP是在美国特拉华州注册的业主有限合伙企业，总部位于得克萨斯州达拉斯，历史可追溯至1886年。公司已从垂直一体化能源企业转型为燃料分销商及能源基础设施运营商，此前经营的油气勘探开采、炼油、化工生产、燃油零售等业务均已完成剥离。
MAS vs WES — 直观对比
营收规模更大
MAS
是对方的1.9倍
$1.0B
营收增速更快
WES
高出4.5%
6.5%
净利率更高
WES
高出6.6%
11.9%
两年增速更快
WES
近两年复合增速
-4.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.0B |
| 净利润 | $228.0M | $190.7M |
| 毛利率 | 35.8% | — |
| 营业利润率 | 16.5% | 29.7% |
| 净利率 | 11.9% | 18.5% |
| 营收同比 | 6.5% | 11.0% |
| 净利润同比 | 14.5% | -42.8% |
| 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MASWES
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.8B | $1.0B | ||
| Q3 25 | $1.9B | $952.3M | ||
| Q2 25 | $2.1B | $942.1M | ||
| Q1 25 | $1.8B | $916.9M | ||
| Q4 24 | $1.8B | $928.4M | ||
| Q3 24 | $2.0B | $883.1M | ||
| Q2 24 | $2.1B | $905.4M |
净利润MASWES
| Q1 26 | $228.0M | — | ||
| Q4 25 | $165.0M | $190.7M | ||
| Q3 25 | $189.0M | $339.6M | ||
| Q2 25 | $270.0M | $341.7M | ||
| Q1 25 | $186.0M | $309.0M | ||
| Q4 24 | $182.0M | $333.6M | ||
| Q3 24 | $167.0M | $288.5M | ||
| Q2 24 | $258.0M | $378.6M |
毛利率MASWES
| Q1 26 | 35.8% | — | ||
| Q4 25 | 33.9% | — | ||
| Q3 25 | 34.2% | — | ||
| Q2 25 | 37.6% | — | ||
| Q1 25 | 35.8% | — | ||
| Q4 24 | 34.8% | — | ||
| Q3 24 | 36.6% | — | ||
| Q2 24 | 37.5% | — |
营业利润率MASWES
| Q1 26 | 16.5% | — | ||
| Q4 25 | 13.8% | 29.7% | ||
| Q3 25 | 15.8% | 46.4% | ||
| Q2 25 | 20.1% | 47.2% | ||
| Q1 25 | 15.9% | 44.7% | ||
| Q4 24 | 15.9% | 45.9% | ||
| Q3 24 | 18.0% | 44.8% | ||
| Q2 24 | 19.0% | 51.9% |
净利率MASWES
| Q1 26 | 11.9% | — | ||
| Q4 25 | 9.2% | 18.5% | ||
| Q3 25 | 9.9% | 35.7% | ||
| Q2 25 | 13.2% | 36.3% | ||
| Q1 25 | 10.3% | 33.7% | ||
| Q4 24 | 10.0% | 35.9% | ||
| Q3 24 | 8.4% | 32.7% | ||
| Q2 24 | 12.3% | 41.8% |
每股收益（稀释后）MASWES
| Q1 26 | — | — | ||
| Q4 25 | $0.81 | — | ||
| Q3 25 | $0.90 | — | ||
| Q2 25 | $1.28 | — | ||
| Q1 25 | $0.87 | — | ||
| Q4 24 | $0.85 | — | ||
| Q3 24 | $0.77 | — | ||
| Q2 24 | $1.17 | — |
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 | — | $819.5M |
| 总债务越低越好 | $2.9B | $8.2B |
| 股东权益账面价值 | $27.0M | — |
| 总资产 | $5.2B | $15.0B |
| 负债/权益比越低杠杆越低 | 109.07× | — |
8季度趋势，按日历期对齐
现金及短期投资MASWES
| Q1 26 | — | — | ||
| Q4 25 | $647.0M | $819.5M | ||
| Q3 25 | $559.0M | $177.3M | ||
| Q2 25 | $390.0M | $129.7M | ||
| Q1 25 | $377.0M | $448.4M | ||
| Q4 24 | $634.0M | $1.1B | ||
| Q3 24 | $646.0M | $1.1B | ||
| Q2 24 | $398.0M | $344.1M |
总债务MASWES
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $8.2B | ||
| Q3 25 | — | $6.9B | ||
| Q2 25 | — | $6.9B | ||
| Q1 25 | — | $6.9B | ||
| Q4 24 | $2.9B | $6.9B | ||
| Q3 24 | — | $6.9B | ||
| Q2 24 | — | $7.1B |
股东权益MASWES
| Q1 26 | $27.0M | — | ||
| Q4 25 | $-185.0M | — | ||
| Q3 25 | $-78.0M | — | ||
| Q2 25 | $-84.0M | — | ||
| Q1 25 | $-254.0M | — | ||
| Q4 24 | $-279.0M | — | ||
| Q3 24 | $-88.0M | — | ||
| Q2 24 | $-26.0M | — |
总资产MASWES
| Q1 26 | $5.2B | — | ||
| Q4 25 | $5.2B | $15.0B | ||
| Q3 25 | $5.3B | $12.1B | ||
| Q2 25 | $5.3B | $12.2B | ||
| Q1 25 | $5.1B | $12.5B | ||
| Q4 24 | $5.0B | $13.1B | ||
| Q3 24 | $5.3B | $13.0B | ||
| Q2 24 | $5.4B | $12.2B |
负债/权益比MASWES
| Q1 26 | 109.07× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | — | $557.6M |
| 自由现金流经营现金流 - 资本支出 | — | $335.4M |
| 自由现金流率自由现金流/营收 | — | 32.6% |
| 资本支出强度资本支出/营收 | 1.8% | 21.6% |
| 现金转化率经营现金流/净利润 | — | 2.92× |
| 过去12个月自由现金流最近4个季度 | — | $1.5B |
8季度趋势，按日历期对齐
经营现金流MASWES
| Q1 26 | — | — | ||
| Q4 25 | $418.0M | $557.6M | ||
| Q3 25 | $456.0M | $570.2M | ||
| Q2 25 | $306.0M | $564.0M | ||
| Q1 25 | $-158.0M | $530.8M | ||
| Q4 24 | $407.0M | $554.4M | ||
| Q3 24 | $416.0M | $551.3M | ||
| Q2 24 | $346.0M | $631.4M |
自由现金流MASWES
| Q1 26 | — | — | ||
| Q4 25 | $371.0M | $335.4M | ||
| Q3 25 | $415.0M | $385.5M | ||
| Q2 25 | $270.0M | $385.4M | ||
| Q1 25 | $-190.0M | $388.4M | ||
| Q4 24 | $351.0M | $315.7M | ||
| Q3 24 | $378.0M | $361.9M | ||
| Q2 24 | $303.0M | $419.6M |
自由现金流率MASWES
| Q1 26 | — | — | ||
| Q4 25 | 20.7% | 32.6% | ||
| Q3 25 | 21.6% | 40.5% | ||
| Q2 25 | 13.2% | 40.9% | ||
| Q1 25 | -10.5% | 42.4% | ||
| Q4 24 | 19.2% | 34.0% | ||
| Q3 24 | 19.1% | 41.0% | ||
| Q2 24 | 14.5% | 46.3% |
资本支出强度MASWES
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.6% | 21.6% | ||
| Q3 25 | 2.1% | 19.4% | ||
| Q2 25 | 1.8% | 19.0% | ||
| Q1 25 | 1.8% | 15.5% | ||
| Q4 24 | 3.1% | 25.7% | ||
| Q3 24 | 1.9% | 21.5% | ||
| Q2 24 | 2.1% | 23.4% |
现金转化率MASWES
| Q1 26 | — | — | ||
| Q4 25 | 2.53× | 2.92× | ||
| Q3 25 | 2.41× | 1.68× | ||
| Q2 25 | 1.13× | 1.65× | ||
| Q1 25 | -0.85× | 1.72× | ||
| Q4 24 | 2.24× | 1.66× | ||
| Q3 24 | 2.49× | 1.91× | ||
| Q2 24 | 1.34× | 1.67× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
