vs
MPLX LP（MPLX）与OPEN TEXT CORP（OTEX）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OPEN TEXT CORP的1.8倍（$2.5B vs $1.3B），MPLX LP净利率更高（49.1% vs 12.7%，领先36.4%），MPLX LP同比增速更快（1.4% vs -0.6%），MPLX LP自由现金流更多（$782.0M vs $279.4M），过去两年MPLX LP的营收复合增速更高（6.2% vs -4.3%）
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。
Open Text Corporation是全球知名的跨国软件企业，专注于信息管理类软件的研发与销售，业务覆盖全球众多国家和地区，可为各行业客户提供成熟的信息管理解决方案，助力企业高效管理数据资产，推进数字化转型落地。
MPLX vs OTEX — 直观对比
营收规模更大
MPLX
是对方的1.8倍
$1.3B
营收增速更快
MPLX
高出2.0%
-0.6%
净利率更高
MPLX
高出36.4%
12.7%
自由现金流更多
MPLX
多$502.6M
$279.4M
两年增速更快
MPLX
近两年复合增速
-4.3%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $1.3B |
| 净利润 | $1.2B | $168.1M |
| 毛利率 | — | 74.0% |
| 营业利润率 | 60.5% | 22.0% |
| 净利率 | 49.1% | 12.7% |
| 营收同比 | 1.4% | -0.6% |
| 净利润同比 | 8.5% | -26.9% |
| 每股收益（稀释后） | — | $0.66 |
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MPLXOTEX
| Q4 25 | $2.5B | $1.3B | ||
| Q3 25 | $2.5B | $1.3B | ||
| Q2 25 | $2.4B | $1.3B | ||
| Q1 25 | $2.5B | $1.3B | ||
| Q4 24 | $2.4B | $1.3B | ||
| Q3 24 | $2.3B | $1.3B | ||
| Q2 24 | $2.3B | $1.4B | ||
| Q1 24 | $2.2B | $1.4B |
净利润MPLXOTEX
| Q4 25 | $1.2B | $168.1M | ||
| Q3 25 | $1.6B | $146.6M | ||
| Q2 25 | $1.1B | $28.8M | ||
| Q1 25 | $1.1B | $92.8M | ||
| Q4 24 | $1.1B | $229.9M | ||
| Q3 24 | $1.0B | $84.4M | ||
| Q2 24 | $1.2B | $248.2M | ||
| Q1 24 | $1.0B | $98.3M |
毛利率MPLXOTEX
| Q4 25 | — | 74.0% | ||
| Q3 25 | — | 72.8% | ||
| Q2 25 | — | 72.3% | ||
| Q1 25 | — | 71.6% | ||
| Q4 24 | — | 73.3% | ||
| Q3 24 | — | 71.7% | ||
| Q2 24 | — | 72.5% | ||
| Q1 24 | — | 73.0% |
营业利润率MPLXOTEX
| Q4 25 | 60.5% | 22.0% | ||
| Q3 25 | 73.2% | 21.0% | ||
| Q2 25 | 54.9% | 13.9% | ||
| Q1 25 | 55.5% | 16.7% | ||
| Q4 24 | 55.6% | 22.2% | ||
| Q3 24 | 54.4% | 16.3% | ||
| Q2 24 | 62.9% | 14.2% | ||
| Q1 24 | 57.6% | 15.7% |
净利率MPLXOTEX
| Q4 25 | 49.1% | 12.7% | ||
| Q3 25 | 63.2% | 11.4% | ||
| Q2 25 | 44.9% | 2.2% | ||
| Q1 25 | 46.2% | 7.4% | ||
| Q4 24 | 45.9% | 17.2% | ||
| Q3 24 | 44.6% | 6.6% | ||
| Q2 24 | 52.6% | 18.2% | ||
| Q1 24 | 46.7% | 6.8% |
每股收益（稀释后）MPLXOTEX
| Q4 25 | — | $0.66 | ||
| Q3 25 | — | $0.58 | ||
| Q2 25 | — | $0.11 | ||
| Q1 25 | — | $0.35 | ||
| Q4 24 | — | $0.87 | ||
| Q3 24 | — | $0.32 | ||
| Q2 24 | — | $0.91 | ||
| Q1 24 | — | $0.36 |
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 | $1.3B |
| 总债务越低越好 | $24.2B | $6.4B |
| 股东权益账面价值 | — | $4.0B |
| 总资产 | $43.0B | $13.6B |
| 负债/权益比越低杠杆越低 | — | 1.58× |
8季度趋势，按日历期对齐
现金及短期投资MPLXOTEX
| Q4 25 | $2.1B | $1.3B | ||
| Q3 25 | $1.8B | $1.1B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $2.5B | $1.3B | ||
| Q4 24 | $1.5B | $1.1B | ||
| Q3 24 | $2.4B | $1.0B | ||
| Q2 24 | $2.5B | $1.3B | ||
| Q1 24 | $385.0M | $1.1B |
总债务MPLXOTEX
| Q4 25 | $24.2B | $6.4B | ||
| Q3 25 | $24.1B | $6.4B | ||
| Q2 25 | $19.7B | $6.4B | ||
| Q1 25 | $19.7B | $6.4B | ||
| Q4 24 | $19.3B | $6.4B | ||
| Q3 24 | $19.3B | $6.4B | ||
| Q2 24 | $19.2B | $6.4B | ||
| Q1 24 | $18.8B | $8.4B |
股东权益MPLXOTEX
| Q4 25 | — | $4.0B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $4.1B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
总资产MPLXOTEX
| Q4 25 | $43.0B | $13.6B | ||
| Q3 25 | $43.2B | $13.5B | ||
| Q2 25 | $37.8B | $13.8B | ||
| Q1 25 | $39.0B | $13.8B | ||
| Q4 24 | $37.5B | $13.7B | ||
| Q3 24 | $38.5B | $13.8B | ||
| Q2 24 | $38.4B | $14.2B | ||
| Q1 24 | $36.5B | $16.4B |
负债/权益比MPLXOTEX
| Q4 25 | — | 1.58× | ||
| Q3 25 | — | 1.61× | ||
| Q2 25 | — | 1.62× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | — | 1.55× | ||
| Q2 24 | — | 1.52× | ||
| Q1 24 | — | 2.02× |
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 | $318.7M |
| 自由现金流经营现金流 - 资本支出 | $782.0M | $279.4M |
| 自由现金流率自由现金流/营收 | 31.9% | 21.1% |
| 资本支出强度资本支出/营收 | 29.1% | 3.0% |
| 现金转化率经营现金流/净利润 | 1.24× | 1.90× |
| 过去12个月自由现金流最近4个季度 | $4.1B | $878.5M |
8季度趋势，按日历期对齐
经营现金流MPLXOTEX
| Q4 25 | $1.5B | $318.7M | ||
| Q3 25 | $1.4B | $147.8M | ||
| Q2 25 | $1.7B | $158.2M | ||
| Q1 25 | $1.2B | $402.2M | ||
| Q4 24 | $1.7B | $348.0M | ||
| Q3 24 | $1.4B | $-77.8M | ||
| Q2 24 | $1.6B | $185.2M | ||
| Q1 24 | $1.3B | $384.7M |
自由现金流MPLXOTEX
| Q4 25 | $782.0M | $279.4M | ||
| Q3 25 | $905.0M | $101.2M | ||
| Q2 25 | $1.4B | $124.0M | ||
| Q1 25 | $979.0M | $373.8M | ||
| Q4 24 | $1.4B | $306.7M | ||
| Q3 24 | $1.1B | $-117.1M | ||
| Q2 24 | $1.4B | $145.2M | ||
| Q1 24 | $1.0B | $348.2M |
自由现金流率MPLXOTEX
| Q4 25 | 31.9% | 21.1% | ||
| Q3 25 | 36.8% | 7.9% | ||
| Q2 25 | 60.9% | 9.5% | ||
| Q1 25 | 39.8% | 29.8% | ||
| Q4 24 | 56.6% | 23.0% | ||
| Q3 24 | 48.4% | -9.2% | ||
| Q2 24 | 60.0% | 10.7% | ||
| Q1 24 | 47.7% | 24.1% |
资本支出强度MPLXOTEX
| Q4 25 | 29.1% | 3.0% | ||
| Q3 25 | 21.4% | 3.6% | ||
| Q2 25 | 12.8% | 2.6% | ||
| Q1 25 | 10.9% | 2.3% | ||
| Q4 24 | 12.7% | 3.1% | ||
| Q3 24 | 11.9% | 3.1% | ||
| Q2 24 | 9.4% | 2.9% | ||
| Q1 24 | 11.7% | 2.5% |
现金转化率MPLXOTEX
| Q4 25 | 1.24× | 1.90× | ||
| Q3 25 | 0.92× | 1.01× | ||
| Q2 25 | 1.64× | 5.49× | ||
| Q1 25 | 1.10× | 4.33× | ||
| Q4 24 | 1.51× | 1.51× | ||
| Q3 24 | 1.35× | -0.92× | ||
| Q2 24 | 1.32× | 0.75× | ||
| Q1 24 | 1.27× | 3.91× |
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% |
OTEX
| Transferred At Point In Time | $184.2M | 14% |
| Cybersecurity Enterprise Product | $174.5M | 13% |
| Business Network Product | $159.8M | 12% |
| Business Network Cloud Services And Subscriptions | $151.4M | 11% |
| Content Cloud Services And Subscriptions | $137.9M | 10% |
| Cybersecurity SMB Consumer Product | $127.6M | 10% |
| Application Delivery Management Product | $120.1M | 9% |
| IT Operations Management Product | $113.3M | 9% |
| Professional Service And Other | $82.5M | 6% |
| Analytics Product | $58.1M | 4% |
| IT Operations Management Cloud Services And Subscriptions | $7.8M | 1% |
