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Meta Platforms（META）与马拉松石油（MPC）财务数据对比。点击上方公司名可切换其他公司
Meta Platforms的季度营收约是马拉松石油的1.8倍（$59.9B vs $32.6B），Meta Platforms净利率更高（38.0% vs 4.7%，领先33.3%），Meta Platforms同比增速更快（23.8% vs -1.7%），Meta Platforms自由现金流更多（$14.8B vs $1.9B），过去两年Meta Platforms的营收复合增速更高（28.2% vs -0.2%）
Meta Platforms是总部位于美国加利福尼亚州门洛帕克的跨国科技巨头，属于全球头部科技企业阵营。旗下运营Facebook、Instagram、WhatsApp、Messenger、Threads等多款知名社交媒体及通讯服务，同时开展自有及第三方站点广告业务，2023年广告收入占其总营收的97.8%。
马拉松石油是总部位于美国俄亥俄州芬德利的能源企业，核心业务覆盖石油炼制、销售与运输全链条。该公司此前为马拉松石油集团的全资子公司，于2011年完成分拆后独立运营。
META vs MPC — 直观对比
营收规模更大
META
是对方的1.8倍
$32.6B
营收增速更快
META
高出25.5%
-1.7%
净利率更高
META
高出33.3%
4.7%
自由现金流更多
META
多$12.9B
$1.9B
两年增速更快
META
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $59.9B | $32.6B |
| 净利润 | $22.8B | $1.5B |
| 毛利率 | 81.8% | 11.4% |
| 营业利润率 | 41.3% | 8.3% |
| 净利率 | 38.0% | 4.7% |
| 营收同比 | 23.8% | -1.7% |
| 净利润同比 | 9.3% | 313.7% |
| 每股收益（稀释后） | $8.87 | $4.99 |
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METAMPC
| Q4 25 | $59.9B | $32.6B | ||
| Q3 25 | $51.2B | $34.8B | ||
| Q2 25 | $47.5B | $33.8B | ||
| Q1 25 | $42.3B | $31.5B | ||
| Q4 24 | $48.4B | $33.1B | ||
| Q3 24 | $40.6B | $35.1B | ||
| Q2 24 | $39.1B | $37.9B | ||
| Q1 24 | $36.5B | $32.7B |
净利润METAMPC
| Q4 25 | $22.8B | $1.5B | ||
| Q3 25 | $2.7B | $1.4B | ||
| Q2 25 | $18.3B | $1.2B | ||
| Q1 25 | $16.6B | $-74.0M | ||
| Q4 24 | $20.8B | $371.0M | ||
| Q3 24 | $15.7B | $622.0M | ||
| Q2 24 | $13.5B | $1.5B | ||
| Q1 24 | $12.4B | $937.0M |
毛利率METAMPC
| Q4 25 | 81.8% | 11.4% | ||
| Q3 25 | 82.0% | 10.4% | ||
| Q2 25 | 82.1% | 11.2% | ||
| Q1 25 | 82.1% | 6.8% | ||
| Q4 24 | 81.7% | 7.8% | ||
| Q3 24 | 81.8% | 8.4% | ||
| Q2 24 | 81.3% | 10.5% | ||
| Q1 24 | 81.8% | 9.5% |
营业利润率METAMPC
| Q4 25 | 41.3% | 8.3% | ||
| Q3 25 | 40.1% | 7.8% | ||
| Q2 25 | 43.0% | 6.5% | ||
| Q1 25 | 41.5% | 2.2% | ||
| Q4 24 | 48.3% | 3.4% | ||
| Q3 24 | 42.7% | 3.8% | ||
| Q2 24 | 38.0% | 6.7% | ||
| Q1 24 | 37.9% | 5.5% |
净利率METAMPC
| Q4 25 | 38.0% | 4.7% | ||
| Q3 25 | 5.3% | 3.9% | ||
| Q2 25 | 38.6% | 3.6% | ||
| Q1 25 | 39.3% | -0.2% | ||
| Q4 24 | 43.1% | 1.1% | ||
| Q3 24 | 38.7% | 1.8% | ||
| Q2 24 | 34.5% | 4.0% | ||
| Q1 24 | 33.9% | 2.9% |
每股收益（稀释后）METAMPC
| Q4 25 | $8.87 | $4.99 | ||
| Q3 25 | $1.05 | $4.51 | ||
| Q2 25 | $7.14 | $3.96 | ||
| Q1 25 | $6.43 | $-0.24 | ||
| Q4 24 | $7.96 | $1.30 | ||
| Q3 24 | $6.03 | $1.87 | ||
| Q2 24 | $5.16 | $4.33 | ||
| Q1 24 | $4.71 | $2.58 |
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 | $81.6B | $3.7B |
| 总债务越低越好 | $58.7B | $30.5B |
| 股东权益账面价值 | $217.2B | $17.3B |
| 总资产 | $366.0B | $84.0B |
| 负债/权益比越低杠杆越低 | 0.27× | 1.76× |
8季度趋势，按日历期对齐
现金及短期投资METAMPC
| Q4 25 | $81.6B | $3.7B | ||
| Q3 25 | $44.4B | $2.7B | ||
| Q2 25 | $47.1B | $1.7B | ||
| Q1 25 | $70.2B | $3.8B | ||
| Q4 24 | $77.8B | $3.2B | ||
| Q3 24 | $70.9B | $5.1B | ||
| Q2 24 | $58.1B | $8.5B | ||
| Q1 24 | $58.1B | $7.6B |
总债务METAMPC
| Q4 25 | $58.7B | $30.5B | ||
| Q3 25 | — | $31.2B | ||
| Q2 25 | — | $26.8B | ||
| Q1 25 | — | $26.8B | ||
| Q4 24 | $28.8B | $24.4B | ||
| Q3 24 | $28.8B | $24.1B | ||
| Q2 24 | — | $24.0B | ||
| Q1 24 | — | $24.8B |
股东权益METAMPC
| Q4 25 | $217.2B | $17.3B | ||
| Q3 25 | $194.1B | $17.1B | ||
| Q2 25 | $195.1B | $16.6B | ||
| Q1 25 | $185.0B | $16.4B | ||
| Q4 24 | $182.6B | $17.7B | ||
| Q3 24 | $164.5B | $18.9B | ||
| Q2 24 | $156.8B | $21.3B | ||
| Q1 24 | $149.5B | $22.9B |
总资产METAMPC
| Q4 25 | $366.0B | $84.0B | ||
| Q3 25 | $303.8B | $83.2B | ||
| Q2 25 | $294.7B | $78.5B | ||
| Q1 25 | $280.2B | $81.6B | ||
| Q4 24 | $276.1B | $78.9B | ||
| Q3 24 | $256.4B | $79.8B | ||
| Q2 24 | $230.2B | $85.2B | ||
| Q1 24 | $222.8B | $85.5B |
负债/权益比METAMPC
| Q4 25 | 0.27× | 1.76× | ||
| Q3 25 | — | 1.83× | ||
| Q2 25 | — | 1.61× | ||
| Q1 25 | — | 1.64× | ||
| Q4 24 | 0.16× | 1.38× | ||
| Q3 24 | 0.18× | 1.27× | ||
| Q2 24 | — | 1.13× | ||
| Q1 24 | — | 1.08× |
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 | $36.2B | $3.1B |
| 自由现金流经营现金流 - 资本支出 | $14.8B | $1.9B |
| 自由现金流率自由现金流/营收 | 24.8% | 5.8% |
| 资本支出强度资本支出/营收 | 35.7% | 3.6% |
| 现金转化率经营现金流/净利润 | 1.59× | 2.00× |
| 过去12个月自由现金流最近4个季度 | $46.1B | $4.8B |
8季度趋势，按日历期对齐
经营现金流METAMPC
| Q4 25 | $36.2B | $3.1B | ||
| Q3 25 | $30.0B | $2.6B | ||
| Q2 25 | $25.6B | $2.6B | ||
| Q1 25 | $24.0B | $-64.0M | ||
| Q4 24 | $28.0B | $2.2B | ||
| Q3 24 | $24.7B | $1.7B | ||
| Q2 24 | $19.4B | $3.2B | ||
| Q1 24 | $19.2B | $1.5B |
自由现金流METAMPC
| Q4 25 | $14.8B | $1.9B | ||
| Q3 25 | $11.2B | $1.7B | ||
| Q2 25 | $9.0B | $1.9B | ||
| Q1 25 | $11.1B | $-727.0M | ||
| Q4 24 | $13.6B | $1.4B | ||
| Q3 24 | $16.5B | $1.0B | ||
| Q2 24 | $11.2B | $2.8B | ||
| Q1 24 | $12.8B | $947.0M |
自由现金流率METAMPC
| Q4 25 | 24.8% | 5.8% | ||
| Q3 25 | 21.8% | 4.8% | ||
| Q2 25 | 19.0% | 5.8% | ||
| Q1 25 | 26.2% | -2.3% | ||
| Q4 24 | 28.0% | 4.2% | ||
| Q3 24 | 40.6% | 2.9% | ||
| Q2 24 | 28.7% | 7.3% | ||
| Q1 24 | 35.2% | 2.9% |
资本支出强度METAMPC
| Q4 25 | 35.7% | 3.6% | ||
| Q3 25 | 36.7% | 2.7% | ||
| Q2 25 | 34.8% | 2.1% | ||
| Q1 25 | 30.6% | 2.1% | ||
| Q4 24 | 29.8% | 2.4% | ||
| Q3 24 | 20.3% | 1.9% | ||
| Q2 24 | 20.9% | 1.3% | ||
| Q1 24 | 17.6% | 1.8% |
现金转化率METAMPC
| Q4 25 | 1.59× | 2.00× | ||
| Q3 25 | 11.07× | 1.90× | ||
| Q2 25 | 1.39× | 2.17× | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.34× | 5.95× | ||
| Q3 24 | 1.58× | 2.71× | ||
| Q2 24 | 1.44× | 2.14× | ||
| Q1 24 | 1.56× | 1.64× |
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
META
| Advertising | $58.1B | 97% |
| Reality Labs | $955.0M | 2% |
| Service Other | $801.0M | 1% |
MPC
| Refined Products | $28.6B | 88% |
| Midstream | $1.4B | 4% |
| Crude Oil | $1.2B | 4% |
| Renewable Diesel | $851.0M | 3% |
| Related Party | $536.0M | 2% |
| Services & Other | $466.0M | 1% |
