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MARTIN MIDSTREAM PARTNERS L.P.（MMLP）与REPLIGEN CORP（RGEN）财务数据对比。点击上方公司名可切换其他公司
REPLIGEN CORP的季度营收约是MARTIN MIDSTREAM PARTNERS L.P.的1.1倍（$197.9M vs $187.7M），REPLIGEN CORP净利率更高（6.7% vs 1.7%，领先5.0%），REPLIGEN CORP同比增速更快（13.6% vs -2.5%），REPLIGEN CORP自由现金流更多（$17.6M vs $-6.0M），过去两年REPLIGEN CORP的营收复合增速更高（14.4% 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。
Repligen是一家全球生命科学企业，专注于创新生物工艺技术与系统的研发及商业化，助力提升生物药生产效率。公司1981年成立，总部位于美国马萨诸塞州沃尔瑟姆，于纳斯达克挂牌上市，股票代码RGEN，截至2025年全球员工超1900人，主要服务生物制药领域客户。
MMLP vs RGEN — 直观对比
营收规模更大
RGEN
是对方的1.1倍
$187.7M
营收增速更快
RGEN
高出16.2%
-2.5%
净利率更高
RGEN
高出5.0%
1.7%
自由现金流更多
RGEN
多$23.6M
$-6.0M
两年增速更快
RGEN
近两年复合增速
0.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $187.7M | $197.9M |
| 净利润 | $3.2M | $13.3M |
| 毛利率 | — | 52.5% |
| 营业利润率 | 4.1% | 9.0% |
| 净利率 | 1.7% | 6.7% |
| 营收同比 | -2.5% | 13.6% |
| 净利润同比 | -37.1% | 143.9% |
| 每股收益（稀释后） | — | $0.24 |
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MMLPRGEN
| Q1 26 | $187.7M | — | ||
| Q4 25 | $174.2M | $197.9M | ||
| Q3 25 | $168.7M | $188.8M | ||
| Q2 25 | $180.7M | $182.4M | ||
| Q1 25 | $192.5M | $169.2M | ||
| Q4 24 | $171.3M | $174.1M | ||
| Q3 24 | $170.9M | $154.9M | ||
| Q2 24 | $184.5M | $154.1M |
净利润MMLPRGEN
| Q1 26 | $3.2M | — | ||
| Q4 25 | $-2.9M | $13.3M | ||
| Q3 25 | $-8.4M | $14.9M | ||
| Q2 25 | $-2.4M | $14.9M | ||
| Q1 25 | $-1.0M | $5.8M | ||
| Q4 24 | $-8.9M | $-30.3M | ||
| Q3 24 | $-3.3M | $-654.0K | ||
| Q2 24 | $3.8M | $3.3M |
毛利率MMLPRGEN
| Q1 26 | — | — | ||
| Q4 25 | 57.1% | 52.5% | ||
| Q3 25 | 55.1% | 53.2% | ||
| Q2 25 | 56.5% | 50.0% | ||
| Q1 25 | 53.5% | 53.6% | ||
| Q4 24 | 58.2% | 26.1% | ||
| Q3 24 | 58.5% | 50.0% | ||
| Q2 24 | 58.4% | 49.8% |
营业利润率MMLPRGEN
| Q1 26 | 4.1% | — | ||
| Q4 25 | 7.3% | 9.0% | ||
| Q3 25 | 4.1% | 8.9% | ||
| Q2 25 | 8.2% | 7.6% | ||
| Q1 25 | 7.5% | 3.9% | ||
| Q4 24 | 4.0% | -17.7% | ||
| Q3 24 | 7.4% | -5.1% | ||
| Q2 24 | 10.8% | 1.0% |
净利率MMLPRGEN
| Q1 26 | 1.7% | — | ||
| Q4 25 | -1.7% | 6.7% | ||
| Q3 25 | -5.0% | 7.9% | ||
| Q2 25 | -1.3% | 8.2% | ||
| Q1 25 | -0.5% | 3.4% | ||
| Q4 24 | -5.2% | -17.4% | ||
| Q3 24 | -1.9% | -0.4% | ||
| Q2 24 | 2.0% | 2.2% |
每股收益（稀释后）MMLPRGEN
| Q1 26 | — | — | ||
| Q4 25 | — | $0.24 | ||
| Q3 25 | — | $0.26 | ||
| Q2 25 | — | $0.26 | ||
| Q1 25 | — | $0.10 | ||
| Q4 24 | — | $-0.55 | ||
| Q3 24 | — | $-0.01 | ||
| Q2 24 | — | $0.06 |
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 | — | $767.6M |
| 总债务越低越好 | — | $542.2M |
| 股东权益账面价值 | — | $2.1B |
| 总资产 | $537.1M | $2.9B |
| 负债/权益比越低杠杆越低 | — | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资MMLPRGEN
| Q1 26 | — | — | ||
| Q4 25 | — | $767.6M | ||
| Q3 25 | — | $748.7M | ||
| Q2 25 | — | $708.9M | ||
| Q1 25 | — | $697.2M | ||
| Q4 24 | — | $757.4M | ||
| Q3 24 | — | $784.0M | ||
| Q2 24 | — | $809.1M |
总债务MMLPRGEN
| Q1 26 | — | — | ||
| Q4 25 | $428.0M | $542.2M | ||
| Q3 25 | $441.3M | $537.9M | ||
| Q2 25 | $427.8M | — | ||
| Q1 25 | $451.4M | — | ||
| Q4 24 | $437.6M | $525.6M | ||
| Q3 24 | $469.3M | — | ||
| Q2 24 | $439.4M | — |
股东权益MMLPRGEN
| Q1 26 | — | — | ||
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $2.0B |
总资产MMLPRGEN
| Q1 26 | $537.1M | — | ||
| Q4 25 | $522.4M | $2.9B | ||
| Q3 25 | $510.1M | $2.9B | ||
| Q2 25 | $515.6M | $2.9B | ||
| Q1 25 | $533.4M | $2.9B | ||
| Q4 24 | $538.5M | $2.8B | ||
| Q3 24 | $554.8M | $2.8B | ||
| Q2 24 | $535.1M | $2.9B |
负债/权益比MMLPRGEN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $25.7M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $17.6M |
| 自由现金流率自由现金流/营收 | -3.2% | 8.9% |
| 资本支出强度资本支出/营收 | 1.6% | 4.1% |
| 现金转化率经营现金流/净利润 | — | 1.93× |
| 过去12个月自由现金流最近4个季度 | $27.2M | $93.9M |
8季度趋势，按日历期对齐
经营现金流MMLPRGEN
| Q1 26 | — | — | ||
| Q4 25 | $22.4M | $25.7M | ||
| Q3 25 | $-1.2M | $48.1M | ||
| Q2 25 | $30.9M | $28.6M | ||
| Q1 25 | $-6.0M | $15.0M | ||
| Q4 24 | $42.2M | $39.2M | ||
| Q3 24 | $-15.8M | $49.3M | ||
| Q2 24 | $11.8M | $42.2M |
自由现金流MMLPRGEN
| Q1 26 | $-6.0M | — | ||
| Q4 25 | $15.6M | $17.6M | ||
| Q3 25 | $-7.9M | $43.4M | ||
| Q2 25 | $25.6M | $21.5M | ||
| Q1 25 | $-11.9M | $11.4M | ||
| Q4 24 | $34.2M | $33.6M | ||
| Q3 24 | $-25.6M | $42.3M | ||
| Q2 24 | $-696.0K | $37.4M |
自由现金流率MMLPRGEN
| Q1 26 | -3.2% | — | ||
| Q4 25 | 8.9% | 8.9% | ||
| Q3 25 | -4.7% | 23.0% | ||
| Q2 25 | 14.2% | 11.8% | ||
| Q1 25 | -6.2% | 6.8% | ||
| Q4 24 | 20.0% | 19.3% | ||
| Q3 24 | -15.0% | 27.3% | ||
| Q2 24 | -0.4% | 24.3% |
资本支出强度MMLPRGEN
| Q1 26 | 1.6% | — | ||
| Q4 25 | 3.9% | 4.1% | ||
| Q3 25 | 4.0% | 2.5% | ||
| Q2 25 | 3.0% | 3.9% | ||
| Q1 25 | 3.1% | 2.1% | ||
| Q4 24 | 4.6% | 3.2% | ||
| Q3 24 | 5.8% | 4.5% | ||
| Q2 24 | 6.8% | 3.1% |
现金转化率MMLPRGEN
| Q1 26 | — | — | ||
| Q4 25 | — | 1.93× | ||
| Q3 25 | — | 3.23× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.57× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 3.13× | 12.70× |
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% |
RGEN
暂无分部数据
