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美泰（MAT）与NGL Energy Partners LP（NGL）财务数据对比。点击上方公司名可切换其他公司
NGL Energy Partners LP的季度营收约是美泰的1.1倍（$909.8M vs $862.2M），美泰净利率更高（7.1% vs 5.2%，领先1.9%），美泰同比增速更快（4.3% vs -41.3%），NGL Energy Partners LP自由现金流更多（$45.7M vs $-88.1M），过去两年NGL Energy Partners LP的营收复合增速更高（-6.4% vs -10.6%）
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
NGL Energy Partners LP是一家总部位于美国的中游能源服务企业，主营原油、液化天然气、可再生燃料的运输、存储及物流服务，同时为上游能源生产商提供水资源管理解决方案，业务主要覆盖北美市场。
MAT vs NGL — 直观对比
营收规模更大
NGL
是对方的1.1倍
$862.2M
营收增速更快
MAT
高出45.6%
-41.3%
净利率更高
MAT
高出1.9%
5.2%
自由现金流更多
NGL
多$133.8M
$-88.1M
两年增速更快
NGL
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $909.8M |
| 净利润 | $61.0M | $47.2M |
| 毛利率 | 44.9% | 29.0% |
| 营业利润率 | — | 12.1% |
| 净利率 | 7.1% | 5.2% |
| 营收同比 | 4.3% | -41.3% |
| 净利润同比 | 251.4% | 249.3% |
| 每股收益（稀释后） | $0.20 | — |
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MATNGL
| Q1 26 | $862.2M | — | ||
| Q4 25 | $1.8B | $909.8M | ||
| Q3 25 | $1.7B | $674.7M | ||
| Q2 25 | $1.0B | $622.2M | ||
| Q1 25 | $826.6M | $971.1M | ||
| Q4 24 | $1.6B | $982.4M | ||
| Q3 24 | $1.8B | $756.5M | ||
| Q2 24 | $1.1B | $759.2M |
净利润MATNGL
| Q1 26 | $61.0M | — | ||
| Q4 25 | $106.2M | $47.2M | ||
| Q3 25 | $278.4M | $29.3M | ||
| Q2 25 | $53.4M | $68.9M | ||
| Q1 25 | $-40.3M | $13.7M | ||
| Q4 24 | $140.9M | $13.5M | ||
| Q3 24 | $372.4M | $2.5M | ||
| Q2 24 | $56.9M | $9.7M |
毛利率MATNGL
| Q1 26 | 44.9% | — | ||
| Q4 25 | 45.9% | 29.0% | ||
| Q3 25 | 50.0% | 37.6% | ||
| Q2 25 | 50.9% | 38.5% | ||
| Q1 25 | 49.4% | 26.9% | ||
| Q4 24 | 50.7% | 25.1% | ||
| Q3 24 | 53.1% | 30.9% | ||
| Q2 24 | 49.2% | 29.0% |
营业利润率MATNGL
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | 12.1% | ||
| Q3 25 | 21.9% | 14.0% | ||
| Q2 25 | 7.7% | 15.7% | ||
| Q1 25 | -6.4% | 8.4% | ||
| Q4 24 | 9.6% | 8.6% | ||
| Q3 24 | 26.5% | 10.8% | ||
| Q2 24 | 7.7% | 10.8% |
净利率MATNGL
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.0% | 5.2% | ||
| Q3 25 | 16.0% | 4.3% | ||
| Q2 25 | 5.2% | 11.1% | ||
| Q1 25 | -4.9% | 1.4% | ||
| Q4 24 | 8.6% | 1.4% | ||
| Q3 24 | 20.2% | 0.3% | ||
| Q2 24 | 5.3% | 1.3% |
每股收益（稀释后）MATNGL
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | — | ||
| Q3 25 | $0.88 | — | ||
| Q2 25 | $0.16 | — | ||
| Q1 25 | $-0.12 | — | ||
| Q4 24 | $0.40 | — | ||
| Q3 24 | $1.09 | — | ||
| Q2 24 | $0.17 | — |
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 | $866.0M | $6.5M |
| 总债务越低越好 | $2.3B | $2.9B |
| 股东权益账面价值 | $2.1B | — |
| 总资产 | $6.3B | $4.4B |
| 负债/权益比越低杠杆越低 | 1.11× | — |
8季度趋势，按日历期对齐
现金及短期投资MATNGL
| Q1 26 | $866.0M | — | ||
| Q4 25 | $1.2B | $6.5M | ||
| Q3 25 | $691.9M | $8.7M | ||
| Q2 25 | $870.5M | $5.4M | ||
| Q1 25 | $1.2B | $13.5M | ||
| Q4 24 | $1.4B | $5.7M | ||
| Q3 24 | $723.5M | $4.5M | ||
| Q2 24 | $722.4M | $5.3M |
总债务MATNGL
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $2.9B | ||
| Q3 25 | $2.3B | $2.9B | ||
| Q2 25 | $2.3B | $2.9B | ||
| Q1 25 | $2.3B | $3.0B | ||
| Q4 24 | $2.3B | $3.1B | ||
| Q3 24 | $2.3B | $3.1B | ||
| Q2 24 | $2.3B | $3.0B |
股东权益MATNGL
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.0B | — |
总资产MATNGL
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.6B | $4.4B | ||
| Q3 25 | $6.6B | $4.3B | ||
| Q2 25 | $6.2B | $4.2B | ||
| Q1 25 | $6.2B | $4.6B | ||
| Q4 24 | $6.5B | $4.8B | ||
| Q3 24 | $6.5B | $4.9B | ||
| Q2 24 | $5.9B | $4.8B |
负债/权益比MATNGL
| Q1 26 | 1.11× | — | ||
| Q4 25 | 1.04× | — | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 1.18× | — |
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 | — | $182.3M |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | $45.7M |
| 自由现金流率自由现金流/营收 | -10.2% | 5.0% |
| 资本支出强度资本支出/营收 | 7.6% | 15.0% |
| 现金转化率经营现金流/净利润 | — | 3.86× |
| 过去12个月自由现金流最近4个季度 | — | $126.7M |
8季度趋势，按日历期对齐
经营现金流MATNGL
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $182.3M | ||
| Q3 25 | $72.0M | $40.5M | ||
| Q2 25 | $-300.1M | $33.2M | ||
| Q1 25 | $24.8M | $155.0M | ||
| Q4 24 | $862.1M | $153.8M | ||
| Q3 24 | $155.8M | $6.7M | ||
| Q2 24 | $-252.9M | $-18.1M |
自由现金流MATNGL
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $45.7M | ||
| Q3 25 | — | $9.5M | ||
| Q2 25 | — | $11.1M | ||
| Q1 25 | — | $60.4M | ||
| Q4 24 | — | $152.1M | ||
| Q3 24 | — | $-82.9M | ||
| Q2 24 | — | $-78.0M |
自由现金流率MATNGL
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | 5.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 15.5% | ||
| Q3 24 | — | -11.0% | ||
| Q2 24 | — | -10.3% |
资本支出强度MATNGL
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 15.0% | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 9.7% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 11.8% | ||
| Q2 24 | — | 7.9% |
现金转化率MATNGL
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | 3.86× | ||
| Q3 25 | 0.26× | 1.38× | ||
| Q2 25 | -5.62× | 0.48× | ||
| Q1 25 | — | 11.29× | ||
| Q4 24 | 6.12× | 11.39× | ||
| Q3 24 | 0.42× | 2.74× | ||
| Q2 24 | -4.45× | -1.87× |
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
MAT
暂无分部数据
NGL
| Water Solutions Segment | $208.6M | 23% |
| Services | $193.3M | 21% |
| Butane | $192.5M | 21% |
| Service Fees | $182.8M | 20% |
| Public Utilities Inventory Propane | $93.9M | 10% |
| Crude Oil | $23.3M | 3% |
| Crude Oil Transportation And Other | $6.5M | 1% |
| Liquids Logistics Segment | $2.5M | 0% |
| Crude Oil Logistics Segment | $1.2M | 0% |
