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MARTIN MIDSTREAM PARTNERS L.P.（MMLP）与福尼克斯（PLAB）财务数据对比。点击上方公司名可切换其他公司
福尼克斯的季度营收约是MARTIN MIDSTREAM PARTNERS L.P.的1.1倍（$210.4M vs $187.7M），福尼克斯净利率更高（10.9% vs 1.7%，领先9.2%），MARTIN MIDSTREAM PARTNERS L.P.同比增速更快（-2.5% vs -5.5%），福尼克斯自由现金流更多（$25.2M vs $-6.0M），过去两年MARTIN MIDSTREAM PARTNERS L.P.的营收复合增速更高（0.8% vs -3.8%）
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。
福尼克斯是美国半导体光掩模制造商，2009年时位居全球第三大光掩模供应商，同时也是电子束产业倡议组织的成员，专注于为半导体行业提供关键的掩模产品，支撑芯片制造环节的图形转移需求。
MMLP vs PLAB — 直观对比
营收规模更大
PLAB
是对方的1.1倍
$187.7M
营收增速更快
MMLP
高出3.0%
-5.5%
净利率更高
PLAB
高出9.2%
1.7%
自由现金流更多
PLAB
多$31.2M
$-6.0M
两年增速更快
MMLP
近两年复合增速
-3.8%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $187.7M | $210.4M |
| 净利润 | $3.2M | $22.9M |
| 毛利率 | — | 33.7% |
| 营业利润率 | 4.1% | 22.9% |
| 净利率 | 1.7% | 10.9% |
| 营收同比 | -2.5% | -5.5% |
| 净利润同比 | -37.1% | -32.4% |
| 每股收益（稀释后） | — | $0.39 |
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MMLPPLAB
| Q1 26 | $187.7M | — | ||
| Q4 25 | $174.2M | — | ||
| Q3 25 | $168.7M | $210.4M | ||
| Q2 25 | $180.7M | $211.0M | ||
| Q1 25 | $192.5M | $212.1M | ||
| Q4 24 | $171.3M | $222.6M | ||
| Q3 24 | $170.9M | $211.0M | ||
| Q2 24 | $184.5M | $217.0M |
净利润MMLPPLAB
| Q1 26 | $3.2M | — | ||
| Q4 25 | $-2.9M | — | ||
| Q3 25 | $-8.4M | $22.9M | ||
| Q2 25 | $-2.4M | $8.9M | ||
| Q1 25 | $-1.0M | $42.9M | ||
| Q4 24 | $-8.9M | $33.9M | ||
| Q3 24 | $-3.3M | $34.4M | ||
| Q2 24 | $3.8M | $36.3M |
毛利率MMLPPLAB
| Q1 26 | — | — | ||
| Q4 25 | 57.1% | — | ||
| Q3 25 | 55.1% | 33.7% | ||
| Q2 25 | 56.5% | 36.9% | ||
| Q1 25 | 53.5% | 35.6% | ||
| Q4 24 | 58.2% | 37.0% | ||
| Q3 24 | 58.5% | 35.6% | ||
| Q2 24 | 58.4% | 36.5% |
营业利润率MMLPPLAB
| Q1 26 | 4.1% | — | ||
| Q4 25 | 7.3% | — | ||
| Q3 25 | 4.1% | 22.9% | ||
| Q2 25 | 8.2% | 26.4% | ||
| Q1 25 | 7.5% | 24.6% | ||
| Q4 24 | 4.0% | 25.1% | ||
| Q3 24 | 7.4% | 24.7% | ||
| Q2 24 | 10.8% | 25.8% |
净利率MMLPPLAB
| Q1 26 | 1.7% | — | ||
| Q4 25 | -1.7% | — | ||
| Q3 25 | -5.0% | 10.9% | ||
| Q2 25 | -1.3% | 4.2% | ||
| Q1 25 | -0.5% | 20.2% | ||
| Q4 24 | -5.2% | 15.2% | ||
| Q3 24 | -1.9% | 16.3% | ||
| Q2 24 | 2.0% | 16.7% |
每股收益（稀释后）MMLPPLAB
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $0.39 | ||
| Q2 25 | — | $0.15 | ||
| Q1 25 | — | $0.68 | ||
| Q4 24 | — | $0.54 | ||
| Q3 24 | — | $0.55 | ||
| Q2 24 | — | $0.58 |
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 | — | $575.8M |
| 总债务越低越好 | — | $16.0K |
| 股东权益账面价值 | — | $1.1B |
| 总资产 | $537.1M | $1.8B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资MMLPPLAB
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $575.8M | ||
| Q2 25 | — | $558.4M | ||
| Q1 25 | — | $642.2M | ||
| Q4 24 | — | $640.7M | ||
| Q3 24 | — | $606.4M | ||
| Q2 24 | — | $559.9M |
总债务MMLPPLAB
| Q1 26 | — | — | ||
| Q4 25 | $428.0M | — | ||
| Q3 25 | $441.3M | $16.0K | ||
| Q2 25 | $427.8M | $19.0K | ||
| Q1 25 | $451.4M | $21.0K | ||
| Q4 24 | $437.6M | $25.0K | ||
| Q3 24 | $469.3M | $28.0K | ||
| Q2 24 | $439.4M | $2.5M |
股东权益MMLPPLAB
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.0B |
总资产MMLPPLAB
| Q1 26 | $537.1M | — | ||
| Q4 25 | $522.4M | — | ||
| Q3 25 | $510.1M | $1.8B | ||
| Q2 25 | $515.6M | $1.7B | ||
| Q1 25 | $533.4M | $1.7B | ||
| Q4 24 | $538.5M | $1.7B | ||
| Q3 24 | $554.8M | $1.6B | ||
| Q2 24 | $535.1M | $1.6B |
负债/权益比MMLPPLAB
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× |
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 | — | $50.1M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $25.2M |
| 自由现金流率自由现金流/营收 | -3.2% | 12.0% |
| 资本支出强度资本支出/营收 | 1.6% | 11.8% |
| 现金转化率经营现金流/净利润 | — | 2.19× |
| 过去12个月自由现金流最近4个季度 | $27.2M | $64.5M |
8季度趋势，按日历期对齐
经营现金流MMLPPLAB
| Q1 26 | — | — | ||
| Q4 25 | $22.4M | — | ||
| Q3 25 | $-1.2M | $50.1M | ||
| Q2 25 | $30.9M | $31.5M | ||
| Q1 25 | $-6.0M | $78.5M | ||
| Q4 24 | $42.2M | $68.4M | ||
| Q3 24 | $-15.8M | $75.1M | ||
| Q2 24 | $11.8M | $76.5M |
自由现金流MMLPPLAB
| Q1 26 | $-6.0M | — | ||
| Q4 25 | $15.6M | — | ||
| Q3 25 | $-7.9M | $25.2M | ||
| Q2 25 | $25.6M | $-29.1M | ||
| Q1 25 | $-11.9M | $43.3M | ||
| Q4 24 | $34.2M | $25.2M | ||
| Q3 24 | $-25.6M | $50.7M | ||
| Q2 24 | $-696.0K | $56.5M |
自由现金流率MMLPPLAB
| Q1 26 | -3.2% | — | ||
| Q4 25 | 8.9% | — | ||
| Q3 25 | -4.7% | 12.0% | ||
| Q2 25 | 14.2% | -13.8% | ||
| Q1 25 | -6.2% | 20.4% | ||
| Q4 24 | 20.0% | 11.3% | ||
| Q3 24 | -15.0% | 24.0% | ||
| Q2 24 | -0.4% | 26.0% |
资本支出强度MMLPPLAB
| Q1 26 | 1.6% | — | ||
| Q4 25 | 3.9% | — | ||
| Q3 25 | 4.0% | 11.8% | ||
| Q2 25 | 3.0% | 28.7% | ||
| Q1 25 | 3.1% | 16.6% | ||
| Q4 24 | 4.6% | 19.4% | ||
| Q3 24 | 5.8% | 11.6% | ||
| Q2 24 | 6.8% | 9.2% |
现金转化率MMLPPLAB
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 2.19× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | — | 1.83× | ||
| Q4 24 | — | 2.02× | ||
| Q3 24 | — | 2.18× | ||
| Q2 24 | 3.13× | 2.11× |
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% |
PLAB
| High End Integrated Circuits | $53.6M | 25% |
| High End Flat Panel Displays | $53.5M | 25% |
| KR | $43.7M | 21% |
| Other | $42.1M | 20% |
| Mainstream Flat Panel Displays | $9.1M | 4% |
| Transferred At Point In Time | $8.4M | 4% |
