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MARTIN MIDSTREAM PARTNERS L.P.（MMLP）与Orthofix Medical Inc.（OFIX）财务数据对比。点击上方公司名可切换其他公司
Orthofix Medical Inc.的季度营收约是MARTIN MIDSTREAM PARTNERS L.P.的1.2倍（$219.9M vs $187.7M），MARTIN MIDSTREAM PARTNERS L.P.净利率更高（1.7% vs -1.0%，领先2.7%），Orthofix Medical Inc.同比增速更快（2.0% vs -2.5%），Orthofix Medical Inc.自由现金流更多（$16.8M vs $-6.0M），过去两年Orthofix Medical Inc.的营收复合增速更高（8.0% vs 0.8%）
Martin Midstream Partners L.P.是美国中游能源服务提供商，主营原油、天然气液、精炼石油产品及特种化学品的存储、运输、分销与加工服务，主要服务北美能源及工业领域客户。
Orthofix医疗是全球知名骨科医疗器械企业，专注于研发、生产及销售脊柱植入物、骨科创伤产品、骨生长刺激治疗设备及再生医疗产品，服务全球多地的骨科医师与医疗机构，致力于提升肌肉骨骼疾病患者的诊疗效果。
MMLP vs OFIX — 直观对比
营收规模更大
OFIX
是对方的1.2倍
$187.7M
营收增速更快
OFIX
高出4.5%
-2.5%
净利率更高
MMLP
高出2.7%
-1.0%
自由现金流更多
OFIX
多$22.8M
$-6.0M
两年增速更快
OFIX
近两年复合增速
0.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $187.7M | $219.9M |
| 净利润 | $3.2M | $-2.2M |
| 毛利率 | — | 71.1% |
| 营业利润率 | 4.1% | 0.2% |
| 净利率 | 1.7% | -1.0% |
| 营收同比 | -2.5% | 2.0% |
| 净利润同比 | -37.1% | 92.4% |
| 每股收益（稀释后） | — | $-0.05 |
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MMLPOFIX
| Q1 26 | $187.7M | — | ||
| Q4 25 | $174.2M | $219.9M | ||
| Q3 25 | $168.7M | $205.6M | ||
| Q2 25 | $180.7M | $203.1M | ||
| Q1 25 | $192.5M | $193.6M | ||
| Q4 24 | $171.3M | $215.7M | ||
| Q3 24 | $170.9M | $196.6M | ||
| Q2 24 | $184.5M | $198.6M |
净利润MMLPOFIX
| Q1 26 | $3.2M | — | ||
| Q4 25 | $-2.9M | $-2.2M | ||
| Q3 25 | $-8.4M | $-22.8M | ||
| Q2 25 | $-2.4M | $-14.1M | ||
| Q1 25 | $-1.0M | $-53.1M | ||
| Q4 24 | $-8.9M | $-29.1M | ||
| Q3 24 | $-3.3M | $-27.4M | ||
| Q2 24 | $3.8M | $-33.4M |
毛利率MMLPOFIX
| Q1 26 | — | — | ||
| Q4 25 | 57.1% | 71.1% | ||
| Q3 25 | 55.1% | 72.2% | ||
| Q2 25 | 56.5% | 68.7% | ||
| Q1 25 | 53.5% | 62.8% | ||
| Q4 24 | 58.2% | 69.0% | ||
| Q3 24 | 58.5% | 68.7% | ||
| Q2 24 | 58.4% | 67.8% |
营业利润率MMLPOFIX
| Q1 26 | 4.1% | — | ||
| Q4 25 | 7.3% | 0.2% | ||
| Q3 25 | 4.1% | -8.3% | ||
| Q2 25 | 8.2% | -7.9% | ||
| Q1 25 | 7.5% | -25.2% | ||
| Q4 24 | 4.0% | -5.3% | ||
| Q3 24 | 7.4% | -9.6% | ||
| Q2 24 | 10.8% | -12.5% |
净利率MMLPOFIX
| Q1 26 | 1.7% | — | ||
| Q4 25 | -1.7% | -1.0% | ||
| Q3 25 | -5.0% | -11.1% | ||
| Q2 25 | -1.3% | -6.9% | ||
| Q1 25 | -0.5% | -27.4% | ||
| Q4 24 | -5.2% | -13.5% | ||
| Q3 24 | -1.9% | -13.9% | ||
| Q2 24 | 2.0% | -16.8% |
每股收益（稀释后）MMLPOFIX
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.05 | ||
| Q3 25 | — | $-0.57 | ||
| Q2 25 | — | $-0.36 | ||
| Q1 25 | — | $-1.35 | ||
| Q4 24 | — | $-0.76 | ||
| Q3 24 | — | $-0.71 | ||
| Q2 24 | — | $-0.88 |
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 | — | $82.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $450.0M |
| 总资产 | $537.1M | $850.6M |
| 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MMLPOFIX
| Q1 26 | — | — | ||
| Q4 25 | — | $82.0M | ||
| Q3 25 | — | $62.9M | ||
| Q2 25 | — | $65.6M | ||
| Q1 25 | — | $58.0M | ||
| Q4 24 | — | $83.2M | ||
| Q3 24 | — | $30.1M | ||
| Q2 24 | — | $26.4M |
总债务MMLPOFIX
| Q1 26 | — | — | ||
| Q4 25 | $428.0M | — | ||
| Q3 25 | $441.3M | $157.2M | ||
| Q2 25 | $427.8M | $157.0M | ||
| Q1 25 | $451.4M | $156.9M | ||
| Q4 24 | $437.6M | $157.0M | ||
| Q3 24 | $469.3M | $118.5M | ||
| Q2 24 | $439.4M | $118.0M |
股东权益MMLPOFIX
| Q1 26 | — | — | ||
| Q4 25 | — | $450.0M | ||
| Q3 25 | — | $442.5M | ||
| Q2 25 | — | $458.3M | ||
| Q1 25 | — | $458.3M | ||
| Q4 24 | — | $503.1M | ||
| Q3 24 | — | $525.9M | ||
| Q2 24 | — | $546.0M |
总资产MMLPOFIX
| Q1 26 | $537.1M | — | ||
| Q4 25 | $522.4M | $850.6M | ||
| Q3 25 | $510.1M | $832.6M | ||
| Q2 25 | $515.6M | $837.2M | ||
| Q1 25 | $533.4M | $823.1M | ||
| Q4 24 | $538.5M | $893.3M | ||
| Q3 24 | $554.8M | $867.9M | ||
| Q2 24 | $535.1M | $882.0M |
负债/权益比MMLPOFIX
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.36× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.34× | ||
| Q4 24 | — | 0.31× | ||
| Q3 24 | — | 0.23× | ||
| Q2 24 | — | 0.22× |
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 | — | $27.7M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $16.8M |
| 自由现金流率自由现金流/营收 | -3.2% | 7.6% |
| 资本支出强度资本支出/营收 | 1.6% | 4.9% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $27.2M | $-1.3M |
8季度趋势，按日历期对齐
经营现金流MMLPOFIX
| Q1 26 | — | — | ||
| Q4 25 | $22.4M | $27.7M | ||
| Q3 25 | $-1.2M | $12.4M | ||
| Q2 25 | $30.9M | $11.6M | ||
| Q1 25 | $-6.0M | $-18.4M | ||
| Q4 24 | $42.2M | $23.7M | ||
| Q3 24 | $-15.8M | $11.7M | ||
| Q2 24 | $11.8M | $9.0M |
自由现金流MMLPOFIX
| Q1 26 | $-6.0M | — | ||
| Q4 25 | $15.6M | $16.8M | ||
| Q3 25 | $-7.9M | $2.5M | ||
| Q2 25 | $25.6M | $4.5M | ||
| Q1 25 | $-11.9M | $-25.1M | ||
| Q4 24 | $34.2M | $15.2M | ||
| Q3 24 | $-25.6M | $6.3M | ||
| Q2 24 | $-696.0K | $-360.0K |
自由现金流率MMLPOFIX
| Q1 26 | -3.2% | — | ||
| Q4 25 | 8.9% | 7.6% | ||
| Q3 25 | -4.7% | 1.2% | ||
| Q2 25 | 14.2% | 2.2% | ||
| Q1 25 | -6.2% | -13.0% | ||
| Q4 24 | 20.0% | 7.0% | ||
| Q3 24 | -15.0% | 3.2% | ||
| Q2 24 | -0.4% | -0.2% |
资本支出强度MMLPOFIX
| Q1 26 | 1.6% | — | ||
| Q4 25 | 3.9% | 4.9% | ||
| Q3 25 | 4.0% | 4.8% | ||
| Q2 25 | 3.0% | 3.5% | ||
| Q1 25 | 3.1% | 3.5% | ||
| Q4 24 | 4.6% | 4.0% | ||
| Q3 24 | 5.8% | 2.7% | ||
| Q2 24 | 6.8% | 4.7% |
现金转化率MMLPOFIX
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 3.13× | — |
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
MMLP
| Specialty products | $61.6M | 33% |
| Transportation * | $52.8M | 28% |
| Other | $46.5M | 25% |
| Terminalling and storage * | $22.4M | 12% |
| Sulfur services | $4.4M | 2% |
OFIX
| Spinal Implants Biologics And Enabling Technologies | $113.6M | 52% |
| Bone Growth Therapies | $68.3M | 31% |
| Other | $22.7M | 10% |
| IT | $5.9M | 3% |
| GB | $3.5M | 2% |
| FR | $3.5M | 2% |
| DE | $2.3M | 1% |
