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MPLX LP（MPLX）与PILGRIMS PRIDE CORP（PPC）财务数据对比。点击上方公司名可切换其他公司
PILGRIMS PRIDE CORP的季度营收约是MPLX LP的1.8倍（$4.5B vs $2.5B），MPLX LP净利率更高（49.1% vs 2.2%，领先46.8%），PILGRIMS PRIDE CORP同比增速更快（1.6% vs 1.4%），过去两年MPLX LP的营收复合增速更高（6.2% vs -0.3%）
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。
Pilgrim's Pride是美国跨国食品企业，为美国及波多黎各最大的鸡肉生产商之一，同时是墨西哥第二大鸡肉生产商。公司2009年12月脱离破产状态，2011年将美国总部迁至科罗拉多州格里利，由JBS集团控股，2016年11月底以3.5亿美元收购Gold'n Plump。
MPLX vs PPC — 直观对比
营收规模更大
PPC
是对方的1.8倍
$2.5B
营收增速更快
PPC
高出0.2%
1.4%
净利率更高
MPLX
高出46.8%
2.2%
两年增速更快
MPLX
近两年复合增速
-0.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $4.5B |
| 净利润 | $1.2B | $101.5M |
| 毛利率 | — | 7.6% |
| 营业利润率 | 60.5% | 3.6% |
| 净利率 | 49.1% | 2.2% |
| 营收同比 | 1.4% | 1.6% |
| 净利润同比 | 8.5% | — |
| 每股收益（稀释后） | — | $0.43 |
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MPLXPPC
| Q1 26 | — | $4.5B | ||
| Q4 25 | $2.5B | $4.5B | ||
| Q3 25 | $2.5B | $4.8B | ||
| Q2 25 | $2.4B | $4.8B | ||
| Q1 25 | $2.5B | $4.5B | ||
| Q4 24 | $2.4B | $4.4B | ||
| Q3 24 | $2.3B | $4.6B | ||
| Q2 24 | $2.3B | $4.6B |
净利润MPLXPPC
| Q1 26 | — | $101.5M | ||
| Q4 25 | $1.2B | $88.0M | ||
| Q3 25 | $1.6B | $342.8M | ||
| Q2 25 | $1.1B | $355.5M | ||
| Q1 25 | $1.1B | $296.0M | ||
| Q4 24 | $1.1B | $235.9M | ||
| Q3 24 | $1.0B | $349.9M | ||
| Q2 24 | $1.2B | $326.3M |
毛利率MPLXPPC
| Q1 26 | — | 7.6% | ||
| Q4 25 | — | 9.5% | ||
| Q3 25 | — | 13.9% | ||
| Q2 25 | — | 15.0% | ||
| Q1 25 | — | 12.4% | ||
| Q4 24 | — | 12.7% | ||
| Q3 24 | — | 14.9% | ||
| Q2 24 | — | 15.2% |
营业利润率MPLXPPC
| Q1 26 | — | 3.6% | ||
| Q4 25 | 60.5% | 4.5% | ||
| Q3 25 | 73.2% | 10.4% | ||
| Q2 25 | 54.9% | 10.8% | ||
| Q1 25 | 55.5% | 9.1% | ||
| Q4 24 | 55.6% | 7.0% | ||
| Q3 24 | 54.4% | 11.1% | ||
| Q2 24 | 62.9% | 9.7% |
净利率MPLXPPC
| Q1 26 | — | 2.2% | ||
| Q4 25 | 49.1% | 1.9% | ||
| Q3 25 | 63.2% | 7.2% | ||
| Q2 25 | 44.9% | 7.5% | ||
| Q1 25 | 46.2% | 6.6% | ||
| Q4 24 | 45.9% | 5.4% | ||
| Q3 24 | 44.6% | 7.6% | ||
| Q2 24 | 52.6% | 7.2% |
每股收益（稀释后）MPLXPPC
| Q1 26 | — | $0.43 | ||
| Q4 25 | — | $0.37 | ||
| Q3 25 | — | $1.44 | ||
| Q2 25 | — | $1.49 | ||
| Q1 25 | — | $1.24 | ||
| Q4 24 | — | $1.00 | ||
| Q3 24 | — | $1.47 | ||
| Q2 24 | — | $1.37 |
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 | $542.4M |
| 总债务越低越好 | $24.2B | $3.1B |
| 股东权益账面价值 | — | $3.7B |
| 总资产 | $43.0B | $10.2B |
| 负债/权益比越低杠杆越低 | — | 0.83× |
8季度趋势，按日历期对齐
现金及短期投资MPLXPPC
| Q1 26 | — | $542.4M | ||
| Q4 25 | $2.1B | $640.2M | ||
| Q3 25 | $1.8B | $612.6M | ||
| Q2 25 | $1.4B | $849.0M | ||
| Q1 25 | $2.5B | $2.1B | ||
| Q4 24 | $1.5B | $2.0B | ||
| Q3 24 | $2.4B | $1.9B | ||
| Q2 24 | $2.5B | $1.3B |
总债务MPLXPPC
| Q1 26 | — | $3.1B | ||
| Q4 25 | $24.2B | $3.1B | ||
| Q3 25 | $24.1B | $3.1B | ||
| Q2 25 | $19.7B | $3.1B | ||
| Q1 25 | $19.7B | $3.2B | ||
| Q4 24 | $19.3B | $3.2B | ||
| Q3 24 | $19.3B | $3.2B | ||
| Q2 24 | $19.2B | $3.2B |
股东权益MPLXPPC
| Q1 26 | — | $3.7B | ||
| Q4 25 | — | $3.7B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.1B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $3.7B |
总资产MPLXPPC
| Q1 26 | — | $10.2B | ||
| Q4 25 | $43.0B | $10.3B | ||
| Q3 25 | $43.2B | $10.0B | ||
| Q2 25 | $37.8B | $10.1B | ||
| Q1 25 | $39.0B | $11.0B | ||
| Q4 24 | $37.5B | $10.7B | ||
| Q3 24 | $38.5B | $10.7B | ||
| Q2 24 | $38.4B | $10.1B |
负债/权益比MPLXPPC
| Q1 26 | — | 0.83× | ||
| Q4 25 | — | 0.84× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 0.83× | ||
| Q1 25 | — | 1.02× | ||
| Q4 24 | — | 0.76× | ||
| Q3 24 | — | 0.76× | ||
| 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MPLXPPC
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $291.2M | ||
| Q3 25 | $1.4B | $458.3M | ||
| Q2 25 | $1.7B | $495.2M | ||
| Q1 25 | $1.2B | $126.9M | ||
| Q4 24 | $1.7B | $349.3M | ||
| Q3 24 | $1.4B | $651.1M | ||
| Q2 24 | $1.6B | $718.6M |
自由现金流MPLXPPC
| Q1 26 | — | — | ||
| Q4 25 | $782.0M | $10.0M | ||
| Q3 25 | $905.0M | $275.9M | ||
| Q2 25 | $1.4B | $339.1M | ||
| Q1 25 | $979.0M | $28.1M | ||
| Q4 24 | $1.4B | $176.6M | ||
| Q3 24 | $1.1B | $565.3M | ||
| Q2 24 | $1.4B | $617.7M |
自由现金流率MPLXPPC
| Q1 26 | — | — | ||
| Q4 25 | 31.9% | 0.2% | ||
| Q3 25 | 36.8% | 5.8% | ||
| Q2 25 | 60.9% | 7.1% | ||
| Q1 25 | 39.8% | 0.6% | ||
| Q4 24 | 56.6% | 4.0% | ||
| Q3 24 | 48.4% | 12.3% | ||
| Q2 24 | 60.0% | 13.5% |
资本支出强度MPLXPPC
| Q1 26 | — | — | ||
| Q4 25 | 29.1% | 6.2% | ||
| Q3 25 | 21.4% | 3.8% | ||
| Q2 25 | 12.8% | 3.3% | ||
| Q1 25 | 10.9% | 2.2% | ||
| Q4 24 | 12.7% | 4.0% | ||
| Q3 24 | 11.9% | 1.9% | ||
| Q2 24 | 9.4% | 2.2% |
现金转化率MPLXPPC
| Q1 26 | — | — | ||
| Q4 25 | 1.24× | 3.31× | ||
| Q3 25 | 0.92× | 1.34× | ||
| Q2 25 | 1.64× | 1.39× | ||
| Q1 25 | 1.10× | 0.43× | ||
| Q4 24 | 1.51× | 1.48× | ||
| Q3 24 | 1.35× | 1.86× | ||
| Q2 24 | 1.32× | 2.20× |
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% |
PPC
| U.S | $2.6B | 58% |
| Europe | $1.4B | 30% |
| Mexico | $545.5M | 12% |
