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马拉松石油（MPC）与巴西国家石油公司（PBR）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巴西国家石油公司的1.5倍（$32.6B vs $21.0B），巴西国家石油公司净利率更高（22.6% vs 4.7%，领先17.9%），马拉松石油同比增速更快（-1.7% vs -10.4%）
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。
巴西国家石油公司（常简称巴西石油）是巴西政府控股的跨国油气企业，总部位于里约热内卢，业务覆盖油气勘探开发、炼化、销售等全产业链，是拉美地区头部能源企业，在全球石油行业具备较强市场影响力。
MPC vs PBR — 直观对比
营收规模更大
MPC
是对方的1.5倍
$21.0B
营收增速更快
MPC
高出8.7%
-10.4%
净利率更高
PBR
高出17.9%
4.7%
损益表 — Q4 FY2025 vs Q2 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $32.6B | $21.0B |
| 净利润 | $1.5B | $4.8B |
| 毛利率 | 11.4% | 47.6% |
| 营业利润率 | 8.3% | 25.4% |
| 净利率 | 4.7% | 22.6% |
| 营收同比 | -1.7% | -10.4% |
| 净利润同比 | 313.7% | 1563.7% |
| 每股收益（稀释后） | $4.99 | $0.37 |
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MPCPBR
| Q4 25 | $32.6B | — | ||
| Q3 25 | $34.8B | — | ||
| Q2 25 | $33.8B | $21.0B | ||
| Q1 25 | $31.5B | — | ||
| Q4 24 | $33.1B | — | ||
| Q3 24 | $35.1B | — | ||
| Q2 24 | $37.9B | $23.5B | ||
| Q1 24 | $32.7B | — |
净利润MPCPBR
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.2B | $4.8B | ||
| Q1 25 | $-74.0M | — | ||
| Q4 24 | $371.0M | — | ||
| Q3 24 | $622.0M | — | ||
| Q2 24 | $1.5B | $-325.0M | ||
| Q1 24 | $937.0M | — |
毛利率MPCPBR
| Q4 25 | 11.4% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 11.2% | 47.6% | ||
| Q1 25 | 6.8% | — | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 8.4% | — | ||
| Q2 24 | 10.5% | 50.0% | ||
| Q1 24 | 9.5% | — |
营业利润率MPCPBR
| Q4 25 | 8.3% | — | ||
| Q3 25 | 7.8% | — | ||
| Q2 25 | 6.5% | 25.4% | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 3.8% | — | ||
| Q2 24 | 6.7% | 28.6% | ||
| Q1 24 | 5.5% | — |
净利率MPCPBR
| Q4 25 | 4.7% | — | ||
| Q3 25 | 3.9% | — | ||
| Q2 25 | 3.6% | 22.6% | ||
| Q1 25 | -0.2% | — | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 1.8% | — | ||
| Q2 24 | 4.0% | -1.4% | ||
| Q1 24 | 2.9% | — |
每股收益（稀释后）MPCPBR
| Q4 25 | $4.99 | — | ||
| Q3 25 | $4.51 | — | ||
| Q2 25 | $3.96 | $0.37 | ||
| Q1 25 | $-0.24 | — | ||
| Q4 24 | $1.30 | — | ||
| Q3 24 | $1.87 | — | ||
| Q2 24 | $4.33 | $-0.03 | ||
| Q1 24 | $2.58 | — |
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 | $7.0B |
| 总债务越低越好 | $30.5B | — |
| 股东权益账面价值 | $17.3B | $73.6B |
| 总资产 | $84.0B | $215.3B |
| 负债/权益比越低杠杆越低 | 1.76× | — |
8季度趋势，按日历期对齐
现金及短期投资MPCPBR
| Q4 25 | $3.7B | — | ||
| Q3 25 | $2.7B | — | ||
| Q2 25 | $1.7B | $7.0B | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $8.5B | $7.9B | ||
| Q1 24 | $7.6B | — |
总债务MPCPBR
| Q4 25 | $30.5B | — | ||
| Q3 25 | $31.2B | — | ||
| Q2 25 | $26.8B | — | ||
| Q1 25 | $26.8B | — | ||
| Q4 24 | $24.4B | — | ||
| Q3 24 | $24.1B | — | ||
| Q2 24 | $24.0B | — | ||
| Q1 24 | $24.8B | — |
股东权益MPCPBR
| Q4 25 | $17.3B | — | ||
| Q3 25 | $17.1B | — | ||
| Q2 25 | $16.6B | $73.6B | ||
| Q1 25 | $16.4B | — | ||
| Q4 24 | $17.7B | — | ||
| Q3 24 | $18.9B | — | ||
| Q2 24 | $21.3B | $67.6B | ||
| Q1 24 | $22.9B | — |
总资产MPCPBR
| Q4 25 | $84.0B | — | ||
| Q3 25 | $83.2B | — | ||
| Q2 25 | $78.5B | $215.3B | ||
| Q1 25 | $81.6B | — | ||
| Q4 24 | $78.9B | — | ||
| Q3 24 | $79.8B | — | ||
| Q2 24 | $85.2B | $190.4B | ||
| Q1 24 | $85.5B | — |
负债/权益比MPCPBR
| Q4 25 | 1.76× | — | ||
| Q3 25 | 1.83× | — | ||
| Q2 25 | 1.61× | — | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.38× | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.13× | — | ||
| Q1 24 | 1.08× | — |
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 | — |
| 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× | — |
| 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MPCPBR
| Q4 25 | $3.1B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $-64.0M | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $3.2B | — | ||
| Q1 24 | $1.5B | — |
自由现金流MPCPBR
| 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MPCPBR
| 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MPCPBR
| 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MPCPBR
| Q4 25 | 2.00× | — | ||
| Q3 25 | 1.90× | — | ||
| Q2 25 | 2.17× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 5.95× | — | ||
| Q3 24 | 2.71× | — | ||
| Q2 24 | 2.14× | — | ||
| Q1 24 | 1.64× | — |
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% |
PBR
暂无分部数据
