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MPLX LP（MPLX）与纳斯达克（NDAQ）财务数据对比。点击上方公司名可切换其他公司
MPLX LP的季度营收约是纳斯达克的1.1倍（$2.5B vs $2.1B），MPLX LP净利率更高（49.1% vs 24.3%，领先24.8%），纳斯达克同比增速更快（2.0% vs 1.4%），过去两年纳斯达克的营收复合增速更高（9.2% vs 6.2%）
MPLX LP旗下子公司MarkWest Energy Partners是美国业主有限合伙企业，主营天然气收集、加工及运输业务。该公司1988年成立于科罗拉多州丹佛市，曾发展为科罗拉多州第13大企业，2015年被马拉松石油旗下的MPLX收购。
纳斯达克是美国的证券交易所，市值规模在全球证券交易所中排名第二，也是全球首个完全电子化的股票市场。其总部位于纽约曼哈顿，是美国交易量领先、活跃度最高的股票交易场所之一。
MPLX vs NDAQ — 直观对比
营收规模更大
MPLX
是对方的1.1倍
$2.1B
营收增速更快
NDAQ
高出0.5%
1.4%
净利率更高
MPLX
高出24.8%
24.3%
两年增速更快
NDAQ
近两年复合增速
6.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $2.1B |
| 净利润 | $1.2B | $519.0M |
| 毛利率 | — | — |
| 营业利润率 | 60.5% | 30.7% |
| 净利率 | 49.1% | 24.3% |
| 营收同比 | 1.4% | 2.0% |
| 净利润同比 | 8.5% | 31.4% |
| 每股收益（稀释后） | — | $0.91 |
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MPLXNDAQ
| Q1 26 | — | $2.1B | ||
| Q4 25 | $2.5B | $2.1B | ||
| Q3 25 | $2.5B | $2.0B | ||
| Q2 25 | $2.4B | $2.1B | ||
| Q1 25 | $2.5B | $2.1B | ||
| Q4 24 | $2.4B | $2.0B | ||
| Q3 24 | $2.3B | $1.9B | ||
| Q2 24 | $2.3B | $1.8B |
净利润MPLXNDAQ
| Q1 26 | — | $519.0M | ||
| Q4 25 | $1.2B | $518.0M | ||
| Q3 25 | $1.6B | $423.0M | ||
| Q2 25 | $1.1B | $452.0M | ||
| Q1 25 | $1.1B | $395.0M | ||
| Q4 24 | $1.1B | $355.0M | ||
| Q3 24 | $1.0B | $306.0M | ||
| Q2 24 | $1.2B | $222.0M |
毛利率MPLXNDAQ
| Q1 26 | — | — | ||
| Q4 25 | — | 65.5% | ||
| Q3 25 | — | 67.2% | ||
| Q2 25 | — | 62.5% | ||
| Q1 25 | — | 59.2% | ||
| Q4 24 | — | 60.4% | ||
| Q3 24 | — | 60.3% | ||
| Q2 24 | — | 64.7% |
营业利润率MPLXNDAQ
| Q1 26 | — | 30.7% | ||
| Q4 25 | 60.5% | 29.7% | ||
| Q3 25 | 73.2% | 29.9% | ||
| Q2 25 | 54.9% | 27.2% | ||
| Q1 25 | 55.5% | 26.2% | ||
| Q4 24 | 55.6% | 25.4% | ||
| Q3 24 | 54.4% | 23.6% | ||
| Q2 24 | 62.9% | 23.6% |
净利率MPLXNDAQ
| Q1 26 | — | 24.3% | ||
| Q4 25 | 49.1% | 24.4% | ||
| Q3 25 | 63.2% | 21.6% | ||
| Q2 25 | 44.9% | 21.6% | ||
| Q1 25 | 46.2% | 18.9% | ||
| Q4 24 | 45.9% | 17.5% | ||
| Q3 24 | 44.6% | 16.1% | ||
| Q2 24 | 52.6% | 12.4% |
每股收益（稀释后）MPLXNDAQ
| Q1 26 | — | $0.91 | ||
| Q4 25 | — | $0.90 | ||
| Q3 25 | — | $0.73 | ||
| Q2 25 | — | $0.78 | ||
| Q1 25 | — | $0.68 | ||
| Q4 24 | — | $0.62 | ||
| Q3 24 | — | $0.53 | ||
| Q2 24 | — | $0.38 |
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 | $2.1B | $515.0M |
| 总债务越低越好 | $24.2B | $9.0B |
| 股东权益账面价值 | — | $12.0B |
| 总资产 | $43.0B | $27.3B |
| 负债/权益比越低杠杆越低 | — | 0.74× |
8季度趋势，按日历期对齐
现金及短期投资MPLXNDAQ
| Q1 26 | — | $515.0M | ||
| Q4 25 | $2.1B | $604.0M | ||
| Q3 25 | $1.8B | $470.0M | ||
| Q2 25 | $1.4B | $732.0M | ||
| Q1 25 | $2.5B | $690.0M | ||
| Q4 24 | $1.5B | $592.0M | ||
| Q3 24 | $2.4B | $266.0M | ||
| Q2 24 | $2.5B | $416.0M |
总债务MPLXNDAQ
| Q1 26 | — | $9.0B | ||
| Q4 25 | $24.2B | $8.6B | ||
| Q3 25 | $24.1B | $8.7B | ||
| Q2 25 | $19.7B | $8.7B | ||
| Q1 25 | $19.7B | $8.9B | ||
| Q4 24 | $19.3B | $9.1B | ||
| Q3 24 | $19.3B | $9.4B | ||
| Q2 24 | $19.2B | $9.2B |
股东权益MPLXNDAQ
| Q1 26 | — | $12.0B | ||
| Q4 25 | — | $12.2B | ||
| Q3 25 | — | $12.0B | ||
| Q2 25 | — | $11.8B | ||
| Q1 25 | — | $11.5B | ||
| Q4 24 | — | $11.2B | ||
| Q3 24 | — | $11.1B | ||
| Q2 24 | — | $10.9B |
总资产MPLXNDAQ
| Q1 26 | — | $27.3B | ||
| Q4 25 | $43.0B | $31.1B | ||
| Q3 25 | $43.2B | $30.7B | ||
| Q2 25 | $37.8B | $30.4B | ||
| Q1 25 | $39.0B | $30.6B | ||
| Q4 24 | $37.5B | $30.4B | ||
| Q3 24 | $38.5B | $30.6B | ||
| Q2 24 | $38.4B | $30.2B |
负债/权益比MPLXNDAQ
| Q1 26 | — | 0.74× | ||
| Q4 25 | — | 0.70× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.77× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | — | 0.85× | ||
| Q2 24 | — | 0.85× |
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 | $1.5B | — |
| 自由现金流经营现金流 - 资本支出 | $782.0M | — |
| 自由现金流率自由现金流/营收 | 31.9% | — |
| 资本支出强度资本支出/营收 | 29.1% | — |
| 现金转化率经营现金流/净利润 | 1.24× | — |
| 过去12个月自由现金流最近4个季度 | $4.1B | — |
8季度趋势，按日历期对齐
经营现金流MPLXNDAQ
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $625.0M | ||
| Q3 25 | $1.4B | $221.0M | ||
| Q2 25 | $1.7B | $746.0M | ||
| Q1 25 | $1.2B | $663.0M | ||
| Q4 24 | $1.7B | $705.0M | ||
| Q3 24 | $1.4B | $244.0M | ||
| Q2 24 | $1.6B | $460.0M |
自由现金流MPLXNDAQ
| Q1 26 | — | — | ||
| Q4 25 | $782.0M | $536.0M | ||
| Q3 25 | $905.0M | $152.0M | ||
| Q2 25 | $1.4B | $687.0M | ||
| Q1 25 | $979.0M | $614.0M | ||
| Q4 24 | $1.4B | $645.0M | ||
| Q3 24 | $1.1B | $188.0M | ||
| Q2 24 | $1.4B | $408.0M |
自由现金流率MPLXNDAQ
| Q1 26 | — | — | ||
| Q4 25 | 31.9% | 25.2% | ||
| Q3 25 | 36.8% | 7.8% | ||
| Q2 25 | 60.9% | 32.9% | ||
| Q1 25 | 39.8% | 29.4% | ||
| Q4 24 | 56.6% | 31.7% | ||
| Q3 24 | 48.4% | 9.9% | ||
| Q2 24 | 60.0% | 22.8% |
资本支出强度MPLXNDAQ
| Q1 26 | — | — | ||
| Q4 25 | 29.1% | 4.2% | ||
| Q3 25 | 21.4% | 3.5% | ||
| Q2 25 | 12.8% | 2.8% | ||
| Q1 25 | 10.9% | 2.3% | ||
| Q4 24 | 12.7% | 3.0% | ||
| Q3 24 | 11.9% | 2.9% | ||
| Q2 24 | 9.4% | 2.9% |
现金转化率MPLXNDAQ
| Q1 26 | — | — | ||
| Q4 25 | 1.24× | 1.21× | ||
| Q3 25 | 0.92× | 0.52× | ||
| Q2 25 | 1.64× | 1.65× | ||
| Q1 25 | 1.10× | 1.68× | ||
| Q4 24 | 1.51× | 1.99× | ||
| Q3 24 | 1.35× | 0.80× | ||
| Q2 24 | 1.32× | 2.07× |
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
MPLX
| Services | $746.0M | 30% |
| Other | $675.0M | 28% |
| Products | $492.0M | 20% |
| Nonrelated Party | $186.0M | 8% |
| Related Party | $151.0M | 6% |
| Crude Oil And Products Logistics | $104.0M | 4% |
| Service Other | $56.0M | 2% |
| Natural Gas And NGL Services | $41.0M | 2% |
NDAQ
| Market Services | $1.0B | 49% |
| Capital Access Platforms | $565.0M | 26% |
| Financial Technology | $517.0M | 24% |
| Other Revenues | $8.0M | 0% |
