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MPLX LP（MPLX）与普尔斯马特（PSMT）财务数据对比。点击上方公司名可切换其他公司
MPLX LP的季度营收约是普尔斯马特的1.8倍（$2.5B vs $1.4B），MPLX LP净利率更高（49.1% vs 2.9%，领先46.2%），普尔斯马特同比增速更快（9.9% vs 1.4%），MPLX LP自由现金流更多（$782.0M vs $32.6M），过去两年MPLX LP的营收复合增速更高（6.2% vs 3.5%）
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。
PriceSmart（普尔斯马特）是一家美资会员制仓储商超运营商，业务覆盖中美洲、加勒比地区及南美洲。公司由Price Club的创立者索尔·普莱斯与罗伯特·普莱斯共同创办，罗伯特·普莱斯现任董事会主席。
MPLX vs PSMT — 直观对比
营收规模更大
MPLX
是对方的1.8倍
$1.4B
营收增速更快
PSMT
高出8.5%
1.4%
净利率更高
MPLX
高出46.2%
2.9%
自由现金流更多
MPLX
多$749.4M
$32.6M
两年增速更快
MPLX
近两年复合增速
3.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $1.4B |
| 净利润 | $1.2B | $40.2M |
| 毛利率 | — | 17.7% |
| 营业利润率 | 60.5% | 4.6% |
| 净利率 | 49.1% | 2.9% |
| 营收同比 | 1.4% | 9.9% |
| 净利润同比 | 8.5% | 7.3% |
| 每股收益（稀释后） | — | $1.29 |
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MPLXPSMT
| Q4 25 | $2.5B | $1.4B | ||
| Q3 25 | $2.5B | $1.3B | ||
| Q2 25 | $2.4B | $1.3B | ||
| Q1 25 | $2.5B | $1.4B | ||
| Q4 24 | $2.4B | $1.3B | ||
| Q3 24 | $2.3B | $1.2B | ||
| Q2 24 | $2.3B | $1.2B | ||
| Q1 24 | $2.2B | $1.3B |
净利润MPLXPSMT
| Q4 25 | $1.2B | $40.2M | ||
| Q3 25 | $1.6B | $31.5M | ||
| Q2 25 | $1.1B | $35.2M | ||
| Q1 25 | $1.1B | $43.8M | ||
| Q4 24 | $1.1B | $37.4M | ||
| Q3 24 | $1.0B | $29.1M | ||
| Q2 24 | $1.2B | $32.5M | ||
| Q1 24 | $1.0B | $39.3M |
毛利率MPLXPSMT
| Q4 25 | — | 17.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 17.1% | ||
| Q4 24 | — | 17.4% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率MPLXPSMT
| Q4 25 | 60.5% | 4.6% | ||
| Q3 25 | 73.2% | 4.0% | ||
| Q2 25 | 54.9% | 4.3% | ||
| Q1 25 | 55.5% | 4.8% | ||
| Q4 24 | 55.6% | 4.6% | ||
| Q3 24 | 54.4% | 4.0% | ||
| Q2 24 | 62.9% | 4.1% | ||
| Q1 24 | 57.6% | 4.9% |
净利率MPLXPSMT
| Q4 25 | 49.1% | 2.9% | ||
| Q3 25 | 63.2% | 2.4% | ||
| Q2 25 | 44.9% | 2.7% | ||
| Q1 25 | 46.2% | 3.2% | ||
| Q4 24 | 45.9% | 3.0% | ||
| Q3 24 | 44.6% | 2.4% | ||
| Q2 24 | 52.6% | 2.6% | ||
| Q1 24 | 46.7% | 3.0% |
每股收益（稀释后）MPLXPSMT
| Q4 25 | — | $1.29 | ||
| Q3 25 | — | $1.02 | ||
| Q2 25 | — | $1.14 | ||
| Q1 25 | — | $1.45 | ||
| Q4 24 | — | $1.21 | ||
| Q3 24 | — | $0.94 | ||
| Q2 24 | — | $1.08 | ||
| Q1 24 | — | $1.31 |
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 | $320.6M |
| 总债务越低越好 | $24.2B | $180.3M |
| 股东权益账面价值 | — | $1.3B |
| 总资产 | $43.0B | $2.4B |
| 负债/权益比越低杠杆越低 | — | 0.14× |
8季度趋势，按日历期对齐
现金及短期投资MPLXPSMT
| Q4 25 | $2.1B | $320.6M | ||
| Q3 25 | $1.8B | $314.2M | ||
| Q2 25 | $1.4B | $262.4M | ||
| Q1 25 | $2.5B | $247.3M | ||
| Q4 24 | $1.5B | $222.2M | ||
| Q3 24 | $2.4B | $225.5M | ||
| Q2 24 | $2.5B | $228.2M | ||
| Q1 24 | $385.0M | $264.2M |
总债务MPLXPSMT
| Q4 25 | $24.2B | $180.3M | ||
| Q3 25 | $24.1B | $186.6M | ||
| Q2 25 | $19.7B | $103.1M | ||
| Q1 25 | $19.7B | $107.1M | ||
| Q4 24 | $19.3B | $115.6M | ||
| Q3 24 | $19.3B | $130.4M | ||
| Q2 24 | $19.2B | $135.1M | ||
| Q1 24 | $18.8B | $140.0M |
股东权益MPLXPSMT
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
总资产MPLXPSMT
| Q4 25 | $43.0B | $2.4B | ||
| Q3 25 | $43.2B | $2.3B | ||
| Q2 25 | $37.8B | $2.1B | ||
| Q1 25 | $39.0B | $2.1B | ||
| Q4 24 | $37.5B | $2.1B | ||
| Q3 24 | $38.5B | $2.0B | ||
| Q2 24 | $38.4B | $2.0B | ||
| Q1 24 | $36.5B | $2.0B |
负债/权益比MPLXPSMT
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.09× | ||
| Q4 24 | — | 0.10× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.13× |
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 | $71.2M |
| 自由现金流经营现金流 - 资本支出 | $782.0M | $32.6M |
| 自由现金流率自由现金流/营收 | 31.9% | 2.4% |
| 资本支出强度资本支出/营收 | 29.1% | 2.8% |
| 现金转化率经营现金流/净利润 | 1.24× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $4.1B | $125.5M |
8季度趋势，按日历期对齐
经营现金流MPLXPSMT
| Q4 25 | $1.5B | $71.2M | ||
| Q3 25 | $1.4B | $82.1M | ||
| Q2 25 | $1.7B | $52.8M | ||
| Q1 25 | $1.2B | $87.9M | ||
| Q4 24 | $1.7B | $38.5M | ||
| Q3 24 | $1.4B | $41.8M | ||
| Q2 24 | $1.6B | $38.1M | ||
| Q1 24 | $1.3B | $86.6M |
自由现金流MPLXPSMT
| Q4 25 | $782.0M | $32.6M | ||
| Q3 25 | $905.0M | $25.6M | ||
| Q2 25 | $1.4B | $14.0M | ||
| Q1 25 | $979.0M | $53.2M | ||
| Q4 24 | $1.4B | $10.3M | ||
| Q3 24 | $1.1B | $15.2M | ||
| Q2 24 | $1.4B | $-308.0K | ||
| Q1 24 | $1.0B | $16.4M |
自由现金流率MPLXPSMT
| Q4 25 | 31.9% | 2.4% | ||
| Q3 25 | 36.8% | 1.9% | ||
| Q2 25 | 60.9% | 1.1% | ||
| Q1 25 | 39.8% | 3.9% | ||
| Q4 24 | 56.6% | 0.8% | ||
| Q3 24 | 48.4% | 1.2% | ||
| Q2 24 | 60.0% | -0.0% | ||
| Q1 24 | 47.7% | 1.3% |
资本支出强度MPLXPSMT
| Q4 25 | 29.1% | 2.8% | ||
| Q3 25 | 21.4% | 4.2% | ||
| Q2 25 | 12.8% | 2.9% | ||
| Q1 25 | 10.9% | 2.5% | ||
| Q4 24 | 12.7% | 2.2% | ||
| Q3 24 | 11.9% | 2.2% | ||
| Q2 24 | 9.4% | 3.1% | ||
| Q1 24 | 11.7% | 5.4% |
现金转化率MPLXPSMT
| Q4 25 | 1.24× | 1.77× | ||
| Q3 25 | 0.92× | 2.60× | ||
| Q2 25 | 1.64× | 1.50× | ||
| Q1 25 | 1.10× | 2.01× | ||
| Q4 24 | 1.51× | 1.03× | ||
| Q3 24 | 1.35× | 1.44× | ||
| Q2 24 | 1.32× | 1.17× | ||
| Q1 24 | 1.27× | 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% |
PSMT
| Fresh Foods | $454.9M | 33% |
| Caribbean Operations Segment | $396.5M | 29% |
| Colombia Operations Segment | $204.1M | 15% |
| Hardlines | $162.6M | 12% |
| Softlines | $99.8M | 7% |
| ship Income Member | $24.5M | 2% |
| Health Services | $14.5M | 1% |
| Other Revenue And Income | $4.2M | 0% |
| United States Operations Segment | $510.0K | 0% |
| Export Sales | $359.0K | 0% |
