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MARTIN MIDSTREAM PARTNERS L.P.（MMLP）与Perimeter Solutions, Inc.（PRM）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Perimeter Solutions, Inc.的1.8倍（$187.7M vs $102.8M），MARTIN MIDSTREAM PARTNERS L.P.净利率更高（1.7% vs -136.5%，领先138.2%），Perimeter Solutions, Inc.同比增速更快（19.2% vs -2.5%），Perimeter Solutions, Inc.自由现金流更多（$11.6M vs $-6.0M），过去两年Perimeter Solutions, Inc.的营收复合增速更高（31.9% 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。
Perimeter Solutions是一家以色列云与网络安全企业，专为各类机构打造基于零信任架构的安全远程网络方案，其技术可替代VPN、防火墙等传统安全硬件设备，助力企业简化网络安全部署，提升远程访问的安全性与效率。
MMLP vs PRM — 直观对比
营收规模更大
MMLP
是对方的1.8倍
$102.8M
营收增速更快
PRM
高出21.7%
-2.5%
净利率更高
MMLP
高出138.2%
-136.5%
自由现金流更多
PRM
多$17.6M
$-6.0M
两年增速更快
PRM
近两年复合增速
0.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $187.7M | $102.8M |
| 净利润 | $3.2M | $-140.2M |
| 毛利率 | — | 45.2% |
| 营业利润率 | 4.1% | -160.7% |
| 净利率 | 1.7% | -136.5% |
| 营收同比 | -2.5% | 19.2% |
| 净利润同比 | -37.1% | -197.3% |
| 每股收益（稀释后） | — | $-0.89 |
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MMLPPRM
| Q1 26 | $187.7M | — | ||
| Q4 25 | $174.2M | $102.8M | ||
| Q3 25 | $168.7M | $315.4M | ||
| Q2 25 | $180.7M | $162.6M | ||
| Q1 25 | $192.5M | $72.0M | ||
| Q4 24 | $171.3M | $86.2M | ||
| Q3 24 | $170.9M | $288.4M | ||
| Q2 24 | $184.5M | $127.3M |
净利润MMLPPRM
| Q1 26 | $3.2M | — | ||
| Q4 25 | $-2.9M | $-140.2M | ||
| Q3 25 | $-8.4M | $-90.7M | ||
| Q2 25 | $-2.4M | $-32.2M | ||
| Q1 25 | $-1.0M | $56.7M | ||
| Q4 24 | $-8.9M | $144.2M | ||
| Q3 24 | $-3.3M | $-89.2M | ||
| Q2 24 | $3.8M | $21.6M |
毛利率MMLPPRM
| Q1 26 | — | — | ||
| Q4 25 | 57.1% | 45.2% | ||
| Q3 25 | 55.1% | 63.1% | ||
| Q2 25 | 56.5% | 62.4% | ||
| Q1 25 | 53.5% | 39.1% | ||
| Q4 24 | 58.2% | 48.6% | ||
| Q3 24 | 58.5% | 62.8% | ||
| Q2 24 | 58.4% | 57.6% |
营业利润率MMLPPRM
| Q1 26 | 4.1% | — | ||
| Q4 25 | 7.3% | -160.7% | ||
| Q3 25 | 4.1% | -27.7% | ||
| Q2 25 | 8.2% | -16.1% | ||
| Q1 25 | 7.5% | — | ||
| Q4 24 | 4.0% | 71.1% | ||
| Q3 24 | 7.4% | -12.2% | ||
| Q2 24 | 10.8% | 35.4% |
净利率MMLPPRM
| Q1 26 | 1.7% | — | ||
| Q4 25 | -1.7% | -136.5% | ||
| Q3 25 | -5.0% | -28.7% | ||
| Q2 25 | -1.3% | -19.8% | ||
| Q1 25 | -0.5% | 78.7% | ||
| Q4 24 | -5.2% | 167.2% | ||
| Q3 24 | -1.9% | -30.9% | ||
| Q2 24 | 2.0% | 17.0% |
每股收益（稀释后）MMLPPRM
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.89 | ||
| Q3 25 | — | $-0.62 | ||
| Q2 25 | — | $-0.22 | ||
| Q1 25 | — | $0.36 | ||
| Q4 24 | — | $1.00 | ||
| Q3 24 | — | $-0.61 | ||
| Q2 24 | — | $0.14 |
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 | — | $325.9M |
| 总债务越低越好 | — | $669.1M |
| 股东权益账面价值 | — | $1.1B |
| 总资产 | $537.1M | $2.7B |
| 负债/权益比越低杠杆越低 | — | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资MMLPPRM
| Q1 26 | — | — | ||
| Q4 25 | — | $325.9M | ||
| Q3 25 | — | $340.6M | ||
| Q2 25 | — | $140.7M | ||
| Q1 25 | — | $200.1M | ||
| Q4 24 | — | $198.5M | ||
| Q3 24 | — | $223.1M | ||
| Q2 24 | — | $43.2M |
总债务MMLPPRM
| Q1 26 | — | — | ||
| Q4 25 | $428.0M | $669.1M | ||
| Q3 25 | $441.3M | $668.8M | ||
| Q2 25 | $427.8M | $668.4M | ||
| Q1 25 | $451.4M | $668.1M | ||
| Q4 24 | $437.6M | $667.8M | ||
| Q3 24 | $469.3M | $667.4M | ||
| Q2 24 | $439.4M | $667.1M |
股东权益MMLPPRM
| Q1 26 | — | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.1B |
总资产MMLPPRM
| Q1 26 | $537.1M | — | ||
| Q4 25 | $522.4M | $2.7B | ||
| Q3 25 | $510.1M | $2.6B | ||
| Q2 25 | $515.6M | $2.5B | ||
| Q1 25 | $533.4M | $2.4B | ||
| Q4 24 | $538.5M | $2.4B | ||
| Q3 24 | $554.8M | $2.5B | ||
| Q2 24 | $535.1M | $2.3B |
负债/权益比MMLPPRM
| Q1 26 | — | — | ||
| Q4 25 | — | 0.59× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | — | 0.55× | ||
| Q4 24 | — | 0.58× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.62× |
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 | — | $18.6M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $11.6M |
| 自由现金流率自由现金流/营收 | -3.2% | 11.3% |
| 资本支出强度资本支出/营收 | 1.6% | 6.8% |
| 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 | $208.6M |
8季度趋势，按日历期对齐
经营现金流MMLPPRM
| Q1 26 | — | — | ||
| Q4 25 | $22.4M | $18.6M | ||
| Q3 25 | $-1.2M | $198.7M | ||
| Q2 25 | $30.9M | $-2.9M | ||
| Q1 25 | $-6.0M | $23.7M | ||
| Q4 24 | $42.2M | $-6.0M | ||
| Q3 24 | $-15.8M | $183.0M | ||
| Q2 24 | $11.8M | $8.6M |
自由现金流MMLPPRM
| Q1 26 | $-6.0M | — | ||
| Q4 25 | $15.6M | $11.6M | ||
| Q3 25 | $-7.9M | $193.6M | ||
| Q2 25 | $25.6M | $-15.6M | ||
| Q1 25 | $-11.9M | $18.9M | ||
| Q4 24 | $34.2M | $-12.4M | ||
| Q3 24 | $-25.6M | $179.1M | ||
| Q2 24 | $-696.0K | $5.0M |
自由现金流率MMLPPRM
| Q1 26 | -3.2% | — | ||
| Q4 25 | 8.9% | 11.3% | ||
| Q3 25 | -4.7% | 61.4% | ||
| Q2 25 | 14.2% | -9.6% | ||
| Q1 25 | -6.2% | 26.3% | ||
| Q4 24 | 20.0% | -14.4% | ||
| Q3 24 | -15.0% | 62.1% | ||
| Q2 24 | -0.4% | 3.9% |
资本支出强度MMLPPRM
| Q1 26 | 1.6% | — | ||
| Q4 25 | 3.9% | 6.8% | ||
| Q3 25 | 4.0% | 1.6% | ||
| Q2 25 | 3.0% | 7.8% | ||
| Q1 25 | 3.1% | 6.7% | ||
| Q4 24 | 4.6% | 7.5% | ||
| Q3 24 | 5.8% | 1.3% | ||
| Q2 24 | 6.8% | 2.9% |
现金转化率MMLPPRM
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | -0.04× | ||
| Q3 24 | — | — | ||
| Q2 24 | 3.13× | 0.40× |
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% |
PRM
| Products | $87.7M | 85% |
| Service And Other | $14.8M | 14% |
