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MARTIN MIDSTREAM PARTNERS L.P.（MMLP）与医疗房产信托（SVC）财务数据对比。点击上方公司名可切换其他公司
医疗房产信托的季度营收约是MARTIN MIDSTREAM PARTNERS L.P.的1.6倍（$296.5M vs $187.7M），MARTIN MIDSTREAM PARTNERS L.P.净利率更高（1.7% vs -0.3%，领先2.0%），MARTIN MIDSTREAM PARTNERS L.P.同比增速更快（-2.5% vs -17.0%），MARTIN MIDSTREAM PARTNERS L.P.自由现金流更多（$-6.0M vs $-95.2M），过去两年MARTIN MIDSTREAM PARTNERS L.P.的营收复合增速更高（0.8% vs -6.1%）
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。
医疗房产信托（MPT）是总部位于阿拉巴马州伯明翰的国际房地产投资信托（REIT），主要在美国和欧洲地区收购投资医疗设施与营利性医疗控股公司。该公司的房产收购多采用售后回租模式，原产权方出售房产给MPT后成为承租租户，其租户普遍签订长期三净租约。
MMLP vs SVC — 直观对比
营收规模更大
SVC
是对方的1.6倍
$187.7M
营收增速更快
MMLP
高出14.4%
-17.0%
净利率更高
MMLP
高出2.0%
-0.3%
自由现金流更多
MMLP
多$89.2M
$-95.2M
两年增速更快
MMLP
近两年复合增速
-6.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $187.7M | $296.5M |
| 净利润 | $3.2M | $-782.0K |
| 毛利率 | — | — |
| 营业利润率 | 4.1% | -3.9% |
| 净利率 | 1.7% | -0.3% |
| 营收同比 | -2.5% | -17.0% |
| 净利润同比 | -37.1% | 99.0% |
| 每股收益（稀释后） | — | $-0.01 |
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MMLPSVC
| Q1 26 | $187.7M | — | ||
| Q4 25 | $174.2M | $296.5M | ||
| Q3 25 | $168.7M | $377.6M | ||
| Q2 25 | $180.7M | $404.4M | ||
| Q1 25 | $192.5M | $335.0M | ||
| Q4 24 | $171.3M | $357.0M | ||
| Q3 24 | $170.9M | $390.9M | ||
| Q2 24 | $184.5M | $412.5M |
净利润MMLPSVC
| Q1 26 | $3.2M | — | ||
| Q4 25 | $-2.9M | $-782.0K | ||
| Q3 25 | $-8.4M | $-46.9M | ||
| Q2 25 | $-2.4M | $-38.2M | ||
| Q1 25 | $-1.0M | $-116.4M | ||
| Q4 24 | $-8.9M | $-76.4M | ||
| Q3 24 | $-3.3M | $-46.9M | ||
| Q2 24 | $3.8M | $-73.8M |
毛利率MMLPSVC
| 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MMLPSVC
| Q1 26 | 4.1% | — | ||
| Q4 25 | 7.3% | -3.9% | ||
| Q3 25 | 4.1% | -12.8% | ||
| Q2 25 | 8.2% | -9.2% | ||
| Q1 25 | 7.5% | -33.3% | ||
| Q4 24 | 4.0% | -19.4% | ||
| Q3 24 | 7.4% | -12.8% | ||
| Q2 24 | 10.8% | -17.1% |
净利率MMLPSVC
| Q1 26 | 1.7% | — | ||
| Q4 25 | -1.7% | -0.3% | ||
| Q3 25 | -5.0% | -12.4% | ||
| Q2 25 | -1.3% | -9.4% | ||
| Q1 25 | -0.5% | -34.8% | ||
| Q4 24 | -5.2% | -21.4% | ||
| Q3 24 | -1.9% | -12.0% | ||
| Q2 24 | 2.0% | -17.9% |
每股收益（稀释后）MMLPSVC
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.01 | ||
| Q3 25 | — | $-0.28 | ||
| Q2 25 | — | $-0.23 | ||
| Q1 25 | — | $-0.70 | ||
| Q4 24 | — | $-0.46 | ||
| Q3 24 | — | $-0.28 | ||
| Q2 24 | — | $-0.45 |
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 | — | $346.8M |
| 总债务越低越好 | — | $5.5B |
| 股东权益账面价值 | — | $646.1M |
| 总资产 | $537.1M | $6.5B |
| 负债/权益比越低杠杆越低 | — | 8.52× |
8季度趋势，按日历期对齐
现金及短期投资MMLPSVC
| Q1 26 | — | — | ||
| Q4 25 | — | $346.8M | ||
| Q3 25 | — | $417.4M | ||
| Q2 25 | — | $63.2M | ||
| Q1 25 | — | $80.1M | ||
| Q4 24 | — | $143.5M | ||
| Q3 24 | — | $48.6M | ||
| Q2 24 | — | $14.6M |
总债务MMLPSVC
| Q1 26 | — | — | ||
| Q4 25 | $428.0M | $5.5B | ||
| Q3 25 | $441.3M | — | ||
| Q2 25 | $427.8M | — | ||
| Q1 25 | $451.4M | — | ||
| Q4 24 | $437.6M | $5.8B | ||
| Q3 24 | $469.3M | — | ||
| Q2 24 | $439.4M | — |
股东权益MMLPSVC
| Q1 26 | — | — | ||
| Q4 25 | — | $646.1M | ||
| Q3 25 | — | $647.9M | ||
| Q2 25 | — | $695.9M | ||
| Q1 25 | — | $734.6M | ||
| Q4 24 | — | $851.9M | ||
| Q3 24 | — | $929.0M | ||
| Q2 24 | — | $1.0B |
总资产MMLPSVC
| Q1 26 | $537.1M | — | ||
| Q4 25 | $522.4M | $6.5B | ||
| Q3 25 | $510.1M | $7.0B | ||
| Q2 25 | $515.6M | $6.9B | ||
| Q1 25 | $533.4M | $7.0B | ||
| Q4 24 | $538.5M | $7.1B | ||
| Q3 24 | $554.8M | $7.1B | ||
| Q2 24 | $535.1M | $7.1B |
负债/权益比MMLPSVC
| Q1 26 | — | — | ||
| Q4 25 | — | 8.52× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.85× | ||
| 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 | — | $-18.5M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $-95.2M |
| 自由现金流率自由现金流/营收 | -3.2% | -32.1% |
| 资本支出强度资本支出/营收 | 1.6% | 25.9% |
| 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 | $-107.0M |
8季度趋势，按日历期对齐
经营现金流MMLPSVC
| Q1 26 | — | — | ||
| Q4 25 | $22.4M | $-18.5M | ||
| Q3 25 | $-1.2M | $98.1M | ||
| Q2 25 | $30.9M | $-7.0K | ||
| Q1 25 | $-6.0M | $38.2M | ||
| Q4 24 | $42.2M | $-9.7M | ||
| Q3 24 | $-15.8M | $106.2M | ||
| Q2 24 | $11.8M | $43.8M |
自由现金流MMLPSVC
| Q1 26 | $-6.0M | — | ||
| Q4 25 | $15.6M | $-95.2M | ||
| Q3 25 | $-7.9M | $57.9M | ||
| Q2 25 | $25.6M | $-46.6M | ||
| Q1 25 | $-11.9M | $-23.2M | ||
| Q4 24 | $34.2M | $-88.9M | ||
| Q3 24 | $-25.6M | $24.1M | ||
| Q2 24 | $-696.0K | $-22.3M |
自由现金流率MMLPSVC
| Q1 26 | -3.2% | — | ||
| Q4 25 | 8.9% | -32.1% | ||
| Q3 25 | -4.7% | 15.3% | ||
| Q2 25 | 14.2% | -11.5% | ||
| Q1 25 | -6.2% | -6.9% | ||
| Q4 24 | 20.0% | -24.9% | ||
| Q3 24 | -15.0% | 6.2% | ||
| Q2 24 | -0.4% | -5.4% |
资本支出强度MMLPSVC
| Q1 26 | 1.6% | — | ||
| Q4 25 | 3.9% | 25.9% | ||
| Q3 25 | 4.0% | 10.6% | ||
| Q2 25 | 3.0% | 11.5% | ||
| Q1 25 | 3.1% | 18.3% | ||
| Q4 24 | 4.6% | 22.2% | ||
| Q3 24 | 5.8% | 21.0% | ||
| Q2 24 | 6.8% | 16.0% |
现金转化率MMLPSVC
| 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% |
SVC
暂无分部数据
