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MARTIN MIDSTREAM PARTNERS L.P.（MMLP）与Walker & Dunlop, Inc.（WD）财务数据对比。点击上方公司名可切换其他公司
Walker & Dunlop, Inc.的季度营收约是MARTIN MIDSTREAM PARTNERS L.P.的1.8倍（$340.0M vs $187.7M），MARTIN MIDSTREAM PARTNERS L.P.净利率更高（1.7% vs -12.9%，领先14.6%），Walker & Dunlop, Inc.同比增速更快（-0.4% vs -2.5%），MARTIN MIDSTREAM PARTNERS L.P.自由现金流更多（$-6.0M vs $-680.1M），过去两年Walker & Dunlop, Inc.的营收复合增速更高（22.1% 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。
Walker & Dunlop, Inc.是美国乃至全球规模领先的商业地产金融与咨询服务机构，为客户提供覆盖商业地产领域的多元金融解决方案及专业咨询服务，业务辐射全球多个市场，在行业内拥有深厚的资源积累与广泛的市场认可度。
MMLP vs WD — 直观对比
营收规模更大
WD
是对方的1.8倍
$187.7M
营收增速更快
WD
高出2.1%
-2.5%
净利率更高
MMLP
高出14.6%
-12.9%
自由现金流更多
MMLP
多$674.1M
$-680.1M
两年增速更快
WD
近两年复合增速
0.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $187.7M | $340.0M |
| 净利润 | $3.2M | $-13.9M |
| 毛利率 | — | — |
| 营业利润率 | 4.1% | -17.2% |
| 净利率 | 1.7% | -12.9% |
| 营收同比 | -2.5% | -0.4% |
| 净利润同比 | -37.1% | -131.0% |
| 每股收益（稀释后） | — | $-0.41 |
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MMLPWD
| Q1 26 | $187.7M | — | ||
| Q4 25 | $174.2M | $340.0M | ||
| Q3 25 | $168.7M | $337.7M | ||
| Q2 25 | $180.7M | $319.2M | ||
| Q1 25 | $192.5M | $237.4M | ||
| Q4 24 | $171.3M | $341.5M | ||
| Q3 24 | $170.9M | $292.3M | ||
| Q2 24 | $184.5M | $270.7M |
净利润MMLPWD
| Q1 26 | $3.2M | — | ||
| Q4 25 | $-2.9M | $-13.9M | ||
| Q3 25 | $-8.4M | $33.5M | ||
| Q2 25 | $-2.4M | $34.0M | ||
| Q1 25 | $-1.0M | $2.8M | ||
| Q4 24 | $-8.9M | $44.8M | ||
| Q3 24 | $-3.3M | $28.8M | ||
| Q2 24 | $3.8M | $22.7M |
毛利率MMLPWD
| 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MMLPWD
| Q1 26 | 4.1% | — | ||
| Q4 25 | 7.3% | -17.2% | ||
| Q3 25 | 4.1% | 13.6% | ||
| Q2 25 | 8.2% | 14.5% | ||
| Q1 25 | 7.5% | 2.2% | ||
| Q4 24 | 4.0% | 15.3% | ||
| Q3 24 | 7.4% | 12.8% | ||
| Q2 24 | 10.8% | 10.4% |
净利率MMLPWD
| Q1 26 | 1.7% | — | ||
| Q4 25 | -1.7% | -12.9% | ||
| Q3 25 | -5.0% | 9.9% | ||
| Q2 25 | -1.3% | 10.6% | ||
| Q1 25 | -0.5% | 1.2% | ||
| Q4 24 | -5.2% | 13.1% | ||
| Q3 24 | -1.9% | 9.9% | ||
| Q2 24 | 2.0% | 8.4% |
每股收益（稀释后）MMLPWD
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.41 | ||
| Q3 25 | — | $0.98 | ||
| Q2 25 | — | $0.99 | ||
| Q1 25 | — | $0.08 | ||
| Q4 24 | — | $1.32 | ||
| Q3 24 | — | $0.85 | ||
| Q2 24 | — | $0.67 |
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 | — | $299.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $1.7B |
| 总资产 | $537.1M | $5.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MMLPWD
| Q1 26 | — | — | ||
| Q4 25 | — | $299.3M | ||
| Q3 25 | — | $274.8M | ||
| Q2 25 | — | $233.7M | ||
| Q1 25 | — | $181.0M | ||
| Q4 24 | — | $279.3M | ||
| Q3 24 | — | $179.8M | ||
| Q2 24 | — | $208.1M |
总债务MMLPWD
| Q1 26 | — | — | ||
| Q4 25 | $428.0M | — | ||
| Q3 25 | $441.3M | — | ||
| Q2 25 | $427.8M | — | ||
| Q1 25 | $451.4M | — | ||
| Q4 24 | $437.6M | — | ||
| Q3 24 | $469.3M | — | ||
| Q2 24 | $439.4M | — |
股东权益MMLPWD
| Q1 26 | — | — | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B |
总资产MMLPWD
| Q1 26 | $537.1M | — | ||
| Q4 25 | $522.4M | $5.1B | ||
| Q3 25 | $510.1M | $5.8B | ||
| Q2 25 | $515.6M | $4.7B | ||
| Q1 25 | $533.4M | $4.5B | ||
| Q4 24 | $538.5M | $4.4B | ||
| Q3 24 | $554.8M | $4.6B | ||
| Q2 24 | $535.1M | $4.2B |
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 | — | $-664.3M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $-680.1M |
| 自由现金流率自由现金流/营收 | -3.2% | -200.0% |
| 资本支出强度资本支出/营收 | 1.6% | 4.6% |
| 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 | $-2.2B |
8季度趋势，按日历期对齐
经营现金流MMLPWD
| Q1 26 | — | — | ||
| Q4 25 | $22.4M | $-664.3M | ||
| Q3 25 | $-1.2M | $-948.1M | ||
| Q2 25 | $30.9M | $-238.5M | ||
| Q1 25 | $-6.0M | $-281.1M | ||
| Q4 24 | $42.2M | $129.4M | ||
| Q3 24 | $-15.8M | $-202.0M | ||
| Q2 24 | $11.8M | $-237.8M |
自由现金流MMLPWD
| Q1 26 | $-6.0M | — | ||
| Q4 25 | $15.6M | $-680.1M | ||
| Q3 25 | $-7.9M | $-950.4M | ||
| Q2 25 | $25.6M | $-241.0M | ||
| Q1 25 | $-11.9M | $-284.7M | ||
| Q4 24 | $34.2M | $116.4M | ||
| Q3 24 | $-25.6M | $-204.0M | ||
| Q2 24 | $-696.0K | $-241.7M |
自由现金流率MMLPWD
| Q1 26 | -3.2% | — | ||
| Q4 25 | 8.9% | -200.0% | ||
| Q3 25 | -4.7% | -281.5% | ||
| Q2 25 | 14.2% | -75.5% | ||
| Q1 25 | -6.2% | -120.0% | ||
| Q4 24 | 20.0% | 34.1% | ||
| Q3 24 | -15.0% | -69.8% | ||
| Q2 24 | -0.4% | -89.3% |
资本支出强度MMLPWD
| Q1 26 | 1.6% | — | ||
| Q4 25 | 3.9% | 4.6% | ||
| Q3 25 | 4.0% | 0.7% | ||
| Q2 25 | 3.0% | 0.8% | ||
| Q1 25 | 3.1% | 1.5% | ||
| Q4 24 | 4.6% | 3.8% | ||
| Q3 24 | 5.8% | 0.7% | ||
| Q2 24 | 6.8% | 1.4% |
现金转化率MMLPWD
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | -28.34× | ||
| Q2 25 | — | -7.02× | ||
| Q1 25 | — | -102.07× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | — | -7.01× | ||
| Q2 24 | 3.13× | -10.49× |
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% |
WD
暂无分部数据
