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MARTIN MIDSTREAM PARTNERS L.P.（MMLP）与OCTAVE SPECIALTY GROUP INC（OSG）财务数据对比。点击上方公司名可切换其他公司
MARTIN MIDSTREAM PARTNERS L.P.的季度营收约是OCTAVE SPECIALTY GROUP INC的1.8倍（$187.7M vs $104.2M），MARTIN MIDSTREAM PARTNERS L.P.净利率更高（1.7% vs -6.6%，领先8.3%），OCTAVE SPECIALTY GROUP INC同比增速更快（66.0% vs -2.5%），过去两年OCTAVE SPECIALTY GROUP INC的营收复合增速更高（42.9% 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。
奥克塔夫专业集团是一家专业保险控股企业，主营定制化财产与意外伤害保险产品，核心业务聚焦超额剩余保险领域，为北美地区的商业及个人客户提供定制化风险保障解决方案。
MMLP vs OSG — 直观对比
营收规模更大
MMLP
是对方的1.8倍
$104.2M
营收增速更快
OSG
高出68.5%
-2.5%
净利率更高
MMLP
高出8.3%
-6.6%
两年增速更快
OSG
近两年复合增速
0.8%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $187.7M | $104.2M |
| 净利润 | $3.2M | $-6.9M |
| 毛利率 | — | — |
| 营业利润率 | 4.1% | — |
| 净利率 | 1.7% | -6.6% |
| 营收同比 | -2.5% | 66.0% |
| 净利润同比 | -37.1% | — |
| 每股收益（稀释后） | — | $-0.13 |
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MMLPOSG
| Q1 26 | $187.7M | $104.2M | ||
| Q4 25 | $174.2M | $66.9M | ||
| Q3 25 | $168.7M | $66.6M | ||
| Q2 25 | $180.7M | $55.0M | ||
| Q1 25 | $192.5M | $62.8M | ||
| Q4 24 | $171.3M | $65.2M | ||
| Q3 24 | $170.9M | $70.0M | ||
| Q2 24 | $184.5M | $51.0M |
净利润MMLPOSG
| Q1 26 | $3.2M | $-6.9M | ||
| Q4 25 | $-2.9M | $-29.7M | ||
| Q3 25 | $-8.4M | $-112.6M | ||
| Q2 25 | $-2.4M | $-72.7M | ||
| Q1 25 | $-1.0M | $-44.7M | ||
| Q4 24 | $-8.9M | $-20.9M | ||
| Q3 24 | $-3.3M | $-27.5M | ||
| Q2 24 | $3.8M | $-750.0K |
毛利率MMLPOSG
| Q1 26 | — | — | ||
| Q4 25 | 57.1% | — | ||
| Q3 25 | 55.1% | — | ||
| Q2 25 | 56.5% | — | ||
| Q1 25 | 53.5% | — | ||
| Q4 24 | 58.2% | — | ||
| Q3 24 | 58.5% | — | ||
| Q2 24 | 58.4% | — |
营业利润率MMLPOSG
| Q1 26 | 4.1% | — | ||
| Q4 25 | 7.3% | -76.7% | ||
| Q3 25 | 4.1% | -48.2% | ||
| Q2 25 | 8.2% | -41.8% | ||
| Q1 25 | 7.5% | -24.1% | ||
| Q4 24 | 4.0% | -55.5% | ||
| Q3 24 | 7.4% | -29.7% | ||
| Q2 24 | 10.8% | -28.9% |
净利率MMLPOSG
| Q1 26 | 1.7% | -6.6% | ||
| Q4 25 | -1.7% | -73.8% | ||
| Q3 25 | -5.0% | -169.1% | ||
| Q2 25 | -1.3% | -132.3% | ||
| Q1 25 | -0.5% | -71.3% | ||
| Q4 24 | -5.2% | -55.1% | ||
| Q3 24 | -1.9% | -39.3% | ||
| Q2 24 | 2.0% | -1.5% |
每股收益（稀释后）MMLPOSG
| Q1 26 | — | $-0.13 | ||
| Q4 25 | — | $-0.82 | ||
| Q3 25 | — | $-2.35 | ||
| Q2 25 | — | $-1.54 | ||
| Q1 25 | — | $-1.22 | ||
| Q4 24 | — | $-11.75 | ||
| Q3 24 | — | $-0.63 | ||
| Q2 24 | — | $-0.02 |
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 | — | — |
| 总债务越低越好 | — | $117.1M |
| 股东权益账面价值 | — | $833.6M |
| 总资产 | $537.1M | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.14× |
8季度趋势，按日历期对齐
现金及短期投资MMLPOSG
| Q1 26 | — | — | ||
| Q4 25 | — | $146.4M | ||
| Q3 25 | — | $27.5M | ||
| Q2 25 | — | $22.5M | ||
| Q1 25 | — | $34.1M | ||
| Q4 24 | — | $157.2M | ||
| Q3 24 | — | $40.8M | ||
| Q2 24 | — | $14.6M |
总债务MMLPOSG
| Q1 26 | — | $117.1M | ||
| Q4 25 | $428.0M | $117.6M | ||
| Q3 25 | $441.3M | — | ||
| Q2 25 | $427.8M | — | ||
| Q1 25 | $451.4M | — | ||
| Q4 24 | $437.6M | $0 | ||
| Q3 24 | $469.3M | $518.0M | ||
| Q2 24 | $439.4M | $515.0M |
股东权益MMLPOSG
| Q1 26 | — | $833.6M | ||
| Q4 25 | — | $715.8M | ||
| Q3 25 | — | $843.4M | ||
| Q2 25 | — | $859.8M | ||
| Q1 25 | — | $852.2M | ||
| Q4 24 | — | $798.4M | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.4B |
总资产MMLPOSG
| Q1 26 | $537.1M | $2.3B | ||
| Q4 25 | $522.4M | $2.2B | ||
| Q3 25 | $510.1M | $2.1B | ||
| Q2 25 | $515.6M | $8.5B | ||
| Q1 25 | $533.4M | $8.3B | ||
| Q4 24 | $538.5M | $8.1B | ||
| Q3 24 | $554.8M | $9.3B | ||
| Q2 24 | $535.1M | $8.2B |
负债/权益比MMLPOSG
| Q1 26 | — | 0.14× | ||
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.38× |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | — |
| 自由现金流率自由现金流/营收 | -3.2% | — |
| 资本支出强度资本支出/营收 | 1.6% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流MMLPOSG
| Q1 26 | — | — | ||
| Q4 25 | $22.4M | $-52.3M | ||
| Q3 25 | $-1.2M | $-41.2M | ||
| Q2 25 | $30.9M | $2.1M | ||
| Q1 25 | $-6.0M | $-12.6M | ||
| Q4 24 | $42.2M | $762.0K | ||
| Q3 24 | $-15.8M | $48.9M | ||
| Q2 24 | $11.8M | $20.4M |
自由现金流MMLPOSG
| Q1 26 | $-6.0M | — | ||
| Q4 25 | $15.6M | — | ||
| Q3 25 | $-7.9M | — | ||
| Q2 25 | $25.6M | — | ||
| Q1 25 | $-11.9M | — | ||
| Q4 24 | $34.2M | — | ||
| Q3 24 | $-25.6M | — | ||
| Q2 24 | $-696.0K | — |
自由现金流率MMLPOSG
| Q1 26 | -3.2% | — | ||
| Q4 25 | 8.9% | — | ||
| Q3 25 | -4.7% | — | ||
| Q2 25 | 14.2% | — | ||
| Q1 25 | -6.2% | — | ||
| Q4 24 | 20.0% | — | ||
| Q3 24 | -15.0% | — | ||
| Q2 24 | -0.4% | — |
资本支出强度MMLPOSG
| Q1 26 | 1.6% | — | ||
| Q4 25 | 3.9% | — | ||
| Q3 25 | 4.0% | — | ||
| Q2 25 | 3.0% | — | ||
| Q1 25 | 3.1% | — | ||
| Q4 24 | 4.6% | — | ||
| Q3 24 | 5.8% | — | ||
| Q2 24 | 6.8% | — |
现金转化率MMLPOSG
| 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% |
OSG
| Commissions | $68.2M | 65% |
| Other | $20.6M | 20% |
| Servicing and other fees | $9.4M | 9% |
| Program fees | $3.6M | 3% |
| Investment income | $2.4M | 2% |
