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马拉松石油（MPC）与摩根士丹利（MS）财务数据对比。点击上方公司名可切换其他公司
马拉松石油的季度营收约是摩根士丹利的1.8倍（$32.6B vs $17.9B），摩根士丹利净利率更高（24.6% vs 4.7%，领先19.9%）
马拉松石油是总部位于美国俄亥俄州芬德利的能源企业，核心业务覆盖石油炼制、销售与运输全链条。该公司此前为马拉松石油集团的全资子公司，于2011年完成分拆后独立运营。
摩根士丹利是总部位于美国纽约曼哈顿中城百老汇1585号的跨国投资银行及金融服务提供商，在全球42个国家设有办事处，员工超8万名，服务客户涵盖企业、政府、机构及个人。2023年该公司位列美国财富500强第61位，同年位居福布斯全球2000强第30位。
MPC vs MS — 直观对比
营收规模更大
MPC
是对方的1.8倍
$17.9B
净利率更高
MS
高出19.9%
4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $32.6B | $17.9B |
| 净利润 | $1.5B | $4.4B |
| 毛利率 | 11.4% | — |
| 营业利润率 | 8.3% | 32.2% |
| 净利率 | 4.7% | 24.6% |
| 营收同比 | -1.7% | — |
| 净利润同比 | 313.7% | — |
| 每股收益（稀释后） | $4.99 | $2.68 |
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MPCMS
| Q4 25 | $32.6B | $17.9B | ||
| Q3 25 | $34.8B | $18.2B | ||
| Q2 25 | $33.8B | $16.8B | ||
| Q1 25 | $31.5B | $17.7B | ||
| Q4 24 | $33.1B | — | ||
| Q3 24 | $35.1B | $15.4B | ||
| Q2 24 | $37.9B | $15.0B | ||
| Q1 24 | $32.7B | $15.1B |
净利润MPCMS
| Q4 25 | $1.5B | $4.4B | ||
| Q3 25 | $1.4B | $4.6B | ||
| Q2 25 | $1.2B | $3.5B | ||
| Q1 25 | $-74.0M | $4.3B | ||
| Q4 24 | $371.0M | — | ||
| Q3 24 | $622.0M | $3.2B | ||
| Q2 24 | $1.5B | $3.1B | ||
| Q1 24 | $937.0M | $3.4B |
毛利率MPCMS
| Q4 25 | 11.4% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 11.2% | — | ||
| Q1 25 | 6.8% | — | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 8.4% | — | ||
| Q2 24 | 10.5% | — | ||
| Q1 24 | 9.5% | — |
营业利润率MPCMS
| Q4 25 | 8.3% | 32.2% | ||
| Q3 25 | 7.8% | 33.1% | ||
| Q2 25 | 6.5% | 27.5% | ||
| Q1 25 | 2.2% | 31.3% | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 3.8% | 27.4% | ||
| Q2 24 | 6.7% | 27.1% | ||
| Q1 24 | 5.5% | 29.0% |
净利率MPCMS
| Q4 25 | 4.7% | 24.6% | ||
| Q3 25 | 3.9% | 25.3% | ||
| Q2 25 | 3.6% | 21.1% | ||
| Q1 25 | -0.2% | 24.3% | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 1.8% | 20.7% | ||
| Q2 24 | 4.0% | 20.5% | ||
| Q1 24 | 2.9% | 22.5% |
每股收益（稀释后）MPCMS
| Q4 25 | $4.99 | $2.68 | ||
| Q3 25 | $4.51 | $2.80 | ||
| Q2 25 | $3.96 | $2.13 | ||
| Q1 25 | $-0.24 | $2.60 | ||
| Q4 24 | $1.30 | — | ||
| Q3 24 | $1.87 | $1.88 | ||
| Q2 24 | $4.33 | $1.82 | ||
| Q1 24 | $2.58 | $2.02 |
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 | $3.7B | $111.7B |
| 总债务越低越好 | $30.5B | $341.7B |
| 股东权益账面价值 | $17.3B | $111.6B |
| 总资产 | $84.0B | $1420.3B |
| 负债/权益比越低杠杆越低 | 1.76× | 3.06× |
8季度趋势，按日历期对齐
现金及短期投资MPCMS
| Q4 25 | $3.7B | $111.7B | ||
| Q3 25 | $2.7B | $103.7B | ||
| Q2 25 | $1.7B | $109.1B | ||
| Q1 25 | $3.8B | $90.7B | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $5.1B | $91.1B | ||
| Q2 24 | $8.5B | $90.2B | ||
| Q1 24 | $7.6B | $102.3B |
总债务MPCMS
| Q4 25 | $30.5B | $341.7B | ||
| Q3 25 | $31.2B | $324.1B | ||
| Q2 25 | $26.8B | $320.1B | ||
| Q1 25 | $26.8B | $297.0B | ||
| Q4 24 | $24.4B | — | ||
| Q3 24 | $24.1B | $291.2B | ||
| Q2 24 | $24.0B | $269.9B | ||
| Q1 24 | $24.8B | $266.1B |
股东权益MPCMS
| Q4 25 | $17.3B | $111.6B | ||
| Q3 25 | $17.1B | $110.0B | ||
| Q2 25 | $16.6B | $108.2B | ||
| Q1 25 | $16.4B | $106.8B | ||
| Q4 24 | $17.7B | — | ||
| Q3 24 | $18.9B | $103.6B | ||
| Q2 24 | $21.3B | $100.7B | ||
| Q1 24 | $22.9B | $99.2B |
总资产MPCMS
| Q4 25 | $84.0B | $1420.3B | ||
| Q3 25 | $83.2B | $1364.8B | ||
| Q2 25 | $78.5B | $1353.9B | ||
| Q1 25 | $81.6B | $1300.3B | ||
| Q4 24 | $78.9B | — | ||
| Q3 24 | $79.8B | $1258.0B | ||
| Q2 24 | $85.2B | $1212.4B | ||
| Q1 24 | $85.5B | $1228.5B |
负债/权益比MPCMS
| Q4 25 | 1.76× | 3.06× | ||
| Q3 25 | 1.83× | 2.95× | ||
| Q2 25 | 1.61× | 2.96× | ||
| Q1 25 | 1.64× | 2.78× | ||
| Q4 24 | 1.38× | — | ||
| Q3 24 | 1.27× | 2.81× | ||
| Q2 24 | 1.13× | 2.68× | ||
| Q1 24 | 1.08× | 2.68× |
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 | $3.1B | $-2.4B |
| 自由现金流经营现金流 - 资本支出 | $1.9B | — |
| 自由现金流率自由现金流/营收 | 5.8% | — |
| 资本支出强度资本支出/营收 | 3.6% | — |
| 现金转化率经营现金流/净利润 | 2.00× | -0.55× |
| 过去12个月自由现金流最近4个季度 | $4.8B | — |
8季度趋势，按日历期对齐
经营现金流MPCMS
| Q4 25 | $3.1B | $-2.4B | ||
| Q3 25 | $2.6B | $-3.3B | ||
| Q2 25 | $2.6B | $11.8B | ||
| Q1 25 | $-64.0M | $-24.0B | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $3.2B | — | ||
| Q1 24 | $1.5B | $4.4B |
自由现金流MPCMS
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $-727.0M | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $947.0M | — |
自由现金流率MPCMS
| Q4 25 | 5.8% | — | ||
| Q3 25 | 4.8% | — | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | -2.3% | — | ||
| Q4 24 | 4.2% | — | ||
| Q3 24 | 2.9% | — | ||
| Q2 24 | 7.3% | — | ||
| Q1 24 | 2.9% | — |
资本支出强度MPCMS
| Q4 25 | 3.6% | — | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 2.1% | — | ||
| Q4 24 | 2.4% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 1.8% | — |
现金转化率MPCMS
| Q4 25 | 2.00× | -0.55× | ||
| Q3 25 | 1.90× | -0.72× | ||
| Q2 25 | 2.17× | 3.34× | ||
| Q1 25 | — | -5.56× | ||
| Q4 24 | 5.95× | — | ||
| Q3 24 | 2.71× | — | ||
| Q2 24 | 2.14× | — | ||
| Q1 24 | 1.64× | 1.28× |
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
MPC
| Refined Products | $28.6B | 88% |
| Midstream | $1.4B | 4% |
| Crude Oil | $1.2B | 4% |
| Renewable Diesel | $851.0M | 3% |
| Related Party | $536.0M | 2% |
| Services & Other | $466.0M | 1% |
MS
暂无分部数据
