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MPLX LP（MPLX）与信安金融集团（PFG）财务数据对比。点击上方公司名可切换其他公司
信安金融集团的季度营收约是MPLX LP的1.9倍（$4.6B vs $2.5B），MPLX LP净利率更高（49.1% vs 11.3%，领先37.8%），MPLX LP同比增速更快（1.4% vs -3.7%），过去两年信安金融集团的营收复合增速更高（6.3% 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。
信安金融集团（股票代码：PFG）是总部位于美国艾奥瓦州得梅因的全球性金融服务企业，核心业务涵盖投资管理、保险服务两大板块，在全球多个区域开展业务，为机构客户和个人用户提供专业定制化的金融解决方案，在行业内拥有较高知名度。
MPLX vs PFG — 直观对比
营收规模更大
PFG
是对方的1.9倍
$2.5B
营收增速更快
MPLX
高出5.1%
-3.7%
净利率更高
MPLX
高出37.8%
11.3%
两年增速更快
PFG
近两年复合增速
6.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $4.6B |
| 净利润 | $1.2B | $517.0M |
| 毛利率 | — | — |
| 营业利润率 | 60.5% | — |
| 净利率 | 49.1% | 11.3% |
| 营收同比 | 1.4% | -3.7% |
| 净利润同比 | 8.5% | -42.9% |
| 每股收益（稀释后） | — | $2.30 |
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MPLXPFG
| Q4 25 | $2.5B | $4.6B | ||
| Q3 25 | $2.5B | $3.7B | ||
| Q2 25 | $2.4B | $3.7B | ||
| Q1 25 | $2.5B | $3.7B | ||
| Q4 24 | $2.4B | $4.8B | ||
| Q3 24 | $2.3B | $3.0B | ||
| Q2 24 | $2.3B | $4.3B | ||
| Q1 24 | $2.2B | $4.1B |
净利润MPLXPFG
| Q4 25 | $1.2B | $517.0M | ||
| Q3 25 | $1.6B | $213.8M | ||
| Q2 25 | $1.1B | $406.2M | ||
| Q1 25 | $1.1B | $48.1M | ||
| Q4 24 | $1.1B | $905.4M | ||
| Q3 24 | $1.0B | $-220.0M | ||
| Q2 24 | $1.2B | $353.1M | ||
| Q1 24 | $1.0B | $532.5M |
营业利润率MPLXPFG
| Q4 25 | 60.5% | — | ||
| Q3 25 | 73.2% | — | ||
| Q2 25 | 54.9% | — | ||
| Q1 25 | 55.5% | — | ||
| Q4 24 | 55.6% | — | ||
| Q3 24 | 54.4% | — | ||
| Q2 24 | 62.9% | — | ||
| Q1 24 | 57.6% | — |
净利率MPLXPFG
| Q4 25 | 49.1% | 11.3% | ||
| Q3 25 | 63.2% | 5.8% | ||
| Q2 25 | 44.9% | 11.1% | ||
| Q1 25 | 46.2% | 1.3% | ||
| Q4 24 | 45.9% | 19.1% | ||
| Q3 24 | 44.6% | -7.3% | ||
| Q2 24 | 52.6% | 8.2% | ||
| Q1 24 | 46.7% | 13.1% |
每股收益（稀释后）MPLXPFG
| Q4 25 | — | $2.30 | ||
| Q3 25 | — | $0.95 | ||
| Q2 25 | — | $1.79 | ||
| Q1 25 | — | $0.21 | ||
| Q4 24 | — | $3.92 | ||
| Q3 24 | — | $-0.95 | ||
| Q2 24 | — | $1.49 | ||
| Q1 24 | — | $2.22 |
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 | $4.4B |
| 总债务越低越好 | $24.2B | $3.9B |
| 股东权益账面价值 | — | $11.9B |
| 总资产 | $43.0B | $341.4B |
| 负债/权益比越低杠杆越低 | — | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资MPLXPFG
| Q4 25 | $2.1B | $4.4B | ||
| Q3 25 | $1.8B | $5.1B | ||
| Q2 25 | $1.4B | $3.7B | ||
| Q1 25 | $2.5B | $3.9B | ||
| Q4 24 | $1.5B | $4.2B | ||
| Q3 24 | $2.4B | $6.2B | ||
| Q2 24 | $2.5B | $4.8B | ||
| Q1 24 | $385.0M | $4.2B |
总债务MPLXPFG
| Q4 25 | $24.2B | $3.9B | ||
| Q3 25 | $24.1B | $3.9B | ||
| Q2 25 | $19.7B | $3.9B | ||
| Q1 25 | $19.7B | $4.3B | ||
| Q4 24 | $19.3B | $4.0B | ||
| Q3 24 | $19.3B | $3.9B | ||
| Q2 24 | $19.2B | $3.9B | ||
| Q1 24 | $18.8B | $3.9B |
股东权益MPLXPFG
| Q4 25 | — | $11.9B | ||
| Q3 25 | — | $11.7B | ||
| Q2 25 | — | $11.4B | ||
| Q1 25 | — | $11.2B | ||
| Q4 24 | — | $11.1B | ||
| Q3 24 | — | $11.2B | ||
| Q2 24 | — | $11.0B | ||
| Q1 24 | — | $11.2B |
总资产MPLXPFG
| Q4 25 | $43.0B | $341.4B | ||
| Q3 25 | $43.2B | $334.5B | ||
| Q2 25 | $37.8B | $323.1B | ||
| Q1 25 | $39.0B | $313.0B | ||
| Q4 24 | $37.5B | $313.7B | ||
| Q3 24 | $38.5B | $322.9B | ||
| Q2 24 | $38.4B | $308.8B | ||
| Q1 24 | $36.5B | $308.7B |
负债/权益比MPLXPFG
| Q4 25 | — | 0.33× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.36× | ||
| Q1 24 | — | 0.35× |
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 | $1.7B |
| 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× | 3.37× |
| 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MPLXPFG
| Q4 25 | $1.5B | $1.7B | ||
| Q3 25 | $1.4B | $1.0B | ||
| Q2 25 | $1.7B | $811.9M | ||
| Q1 25 | $1.2B | $977.3M | ||
| Q4 24 | $1.7B | $1.5B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.6B | $1.4B | ||
| Q1 24 | $1.3B | $584.2M |
自由现金流MPLXPFG
| Q4 25 | $782.0M | — | ||
| Q3 25 | $905.0M | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $979.0M | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.0B | — |
自由现金流率MPLXPFG
| Q4 25 | 31.9% | — | ||
| Q3 25 | 36.8% | — | ||
| Q2 25 | 60.9% | — | ||
| Q1 25 | 39.8% | — | ||
| Q4 24 | 56.6% | — | ||
| Q3 24 | 48.4% | — | ||
| Q2 24 | 60.0% | — | ||
| Q1 24 | 47.7% | — |
资本支出强度MPLXPFG
| Q4 25 | 29.1% | — | ||
| Q3 25 | 21.4% | — | ||
| Q2 25 | 12.8% | — | ||
| Q1 25 | 10.9% | — | ||
| Q4 24 | 12.7% | — | ||
| Q3 24 | 11.9% | — | ||
| Q2 24 | 9.4% | — | ||
| Q1 24 | 11.7% | — |
现金转化率MPLXPFG
| Q4 25 | 1.24× | 3.37× | ||
| Q3 25 | 0.92× | 4.70× | ||
| Q2 25 | 1.64× | 2.00× | ||
| Q1 25 | 1.10× | 20.32× | ||
| Q4 24 | 1.51× | 1.61× | ||
| Q3 24 | 1.35× | — | ||
| Q2 24 | 1.32× | 4.05× | ||
| Q1 24 | 1.27× | 1.10× |
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% |
PFG
| Segment Retirement And Income Solutions | $1.6B | 36% |
| Segment Benefits And Protection | $1.1B | 23% |
| Other | $582.8M | 13% |
| Segment Principal Asset Management | $465.6M | 10% |
| Subsegment Investment Management | $449.4M | 10% |
| Administrative Service | $152.2M | 3% |
| Subsegment International Pension | $91.2M | 2% |
| Segment Corporate | $73.0M | 2% |
| Subsegment Life Insurance | $26.1M | 1% |
| Financial Service Other | $25.1M | 1% |
| Residential Mortgage | $7.4M | 0% |
| Subsegment Specialty Benefits | $3.7M | 0% |
| Deposit Account | $3.4M | 0% |
| Commission Income | $1.8M | 0% |
