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MPLX LP（MPLX）与ROKU, INC（ROKU）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ROKU, INC的1.8倍（$2.5B vs $1.4B），MPLX LP净利率更高（49.1% vs 5.8%，领先43.3%），ROKU, INC同比增速更快（16.1% vs 1.4%），MPLX LP自由现金流更多（$782.0M vs $106.6M），过去两年ROKU, INC的营收复合增速更高（25.8% 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。
Roku是美国流媒体技术企业，2002年由安东尼·伍德创立，主营数字媒体播放器、电视硬件生产，流媒体内容分发及平台广告运营。截至2024年覆盖用户达1.45亿，是美国流媒体视频分发领域的市场领导者，业务覆盖澳、加、法、德、英及拉美多国。
MPLX vs ROKU — 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
ROKU
高出14.7%
1.4%
净利率更高
MPLX
高出43.3%
5.8%
自由现金流更多
MPLX
多$675.4M
$106.6M
两年增速更快
ROKU
近两年复合增速
6.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $1.4B |
| 净利润 | $1.2B | $80.5M |
| 毛利率 | — | 43.5% |
| 营业利润率 | 60.5% | 4.7% |
| 净利率 | 49.1% | 5.8% |
| 营收同比 | 1.4% | 16.1% |
| 净利润同比 | 8.5% | 326.4% |
| 每股收益（稀释后） | — | $0.55 |
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MPLXROKU
| Q4 25 | $2.5B | $1.4B | ||
| Q3 25 | $2.5B | $1.2B | ||
| Q2 25 | $2.4B | $1.1B | ||
| Q1 25 | $2.5B | $1.0B | ||
| Q4 24 | $2.4B | $1.2B | ||
| Q3 24 | $2.3B | $1.1B | ||
| Q2 24 | $2.3B | $968.2M | ||
| Q1 24 | $2.2B | $881.5M |
净利润MPLXROKU
| Q4 25 | $1.2B | $80.5M | ||
| Q3 25 | $1.6B | $24.8M | ||
| Q2 25 | $1.1B | $10.5M | ||
| Q1 25 | $1.1B | $-27.4M | ||
| Q4 24 | $1.1B | $-35.5M | ||
| Q3 24 | $1.0B | $-9.0M | ||
| Q2 24 | $1.2B | $-34.0M | ||
| Q1 24 | $1.0B | $-50.9M |
毛利率MPLXROKU
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | 43.4% | ||
| Q2 25 | — | 44.8% | ||
| Q1 25 | — | 43.6% | ||
| Q4 24 | — | 42.7% | ||
| Q3 24 | — | 45.2% | ||
| Q2 24 | — | 43.9% | ||
| Q1 24 | — | 44.1% |
营业利润率MPLXROKU
| Q4 25 | 60.5% | 4.7% | ||
| Q3 25 | 73.2% | 0.8% | ||
| Q2 25 | 54.9% | -2.1% | ||
| Q1 25 | 55.5% | -5.7% | ||
| Q4 24 | 55.6% | -3.3% | ||
| Q3 24 | 54.4% | -3.4% | ||
| Q2 24 | 62.9% | -7.4% | ||
| Q1 24 | 57.6% | -8.2% |
净利率MPLXROKU
| Q4 25 | 49.1% | 5.8% | ||
| Q3 25 | 63.2% | 2.0% | ||
| Q2 25 | 44.9% | 0.9% | ||
| Q1 25 | 46.2% | -2.7% | ||
| Q4 24 | 45.9% | -3.0% | ||
| Q3 24 | 44.6% | -0.9% | ||
| Q2 24 | 52.6% | -3.5% | ||
| Q1 24 | 46.7% | -5.8% |
每股收益（稀释后）MPLXROKU
| Q4 25 | — | $0.55 | ||
| Q3 25 | — | $0.16 | ||
| Q2 25 | — | $0.07 | ||
| Q1 25 | — | $-0.19 | ||
| Q4 24 | — | $-0.24 | ||
| Q3 24 | — | $-0.06 | ||
| Q2 24 | — | $-0.24 | ||
| Q1 24 | — | $-0.35 |
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 | $2.3B |
| 总债务越低越好 | $24.2B | — |
| 股东权益账面价值 | — | $2.7B |
| 总资产 | $43.0B | $4.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MPLXROKU
| Q4 25 | $2.1B | $2.3B | ||
| Q3 25 | $1.8B | $2.3B | ||
| Q2 25 | $1.4B | $2.3B | ||
| Q1 25 | $2.5B | $2.3B | ||
| Q4 24 | $1.5B | $2.2B | ||
| Q3 24 | $2.4B | $2.1B | ||
| Q2 24 | $2.5B | $2.1B | ||
| Q1 24 | $385.0M | $2.1B |
总债务MPLXROKU
| Q4 25 | $24.2B | — | ||
| Q3 25 | $24.1B | — | ||
| Q2 25 | $19.7B | — | ||
| Q1 25 | $19.7B | — | ||
| Q4 24 | $19.3B | — | ||
| Q3 24 | $19.3B | — | ||
| Q2 24 | $19.2B | — | ||
| Q1 24 | $18.8B | — |
股东权益MPLXROKU
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.4B |
总资产MPLXROKU
| Q4 25 | $43.0B | $4.4B | ||
| Q3 25 | $43.2B | $4.4B | ||
| Q2 25 | $37.8B | $4.3B | ||
| Q1 25 | $39.0B | $4.2B | ||
| Q4 24 | $37.5B | $4.3B | ||
| Q3 24 | $38.5B | $4.3B | ||
| Q2 24 | $38.4B | $4.1B | ||
| Q1 24 | $36.5B | $4.2B |
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 | $107.7M |
| 自由现金流经营现金流 - 资本支出 | $782.0M | $106.6M |
| 自由现金流率自由现金流/营收 | 31.9% | 7.6% |
| 资本支出强度资本支出/营收 | 29.1% | 0.1% |
| 现金转化率经营现金流/净利润 | 1.24× | 1.34× |
| 过去12个月自由现金流最近4个季度 | $4.1B | $478.4M |
8季度趋势，按日历期对齐
经营现金流MPLXROKU
| Q4 25 | $1.5B | $107.7M | ||
| Q3 25 | $1.4B | $127.6M | ||
| Q2 25 | $1.7B | $109.7M | ||
| Q1 25 | $1.2B | $138.7M | ||
| Q4 24 | $1.7B | $79.3M | ||
| Q3 24 | $1.4B | $68.7M | ||
| Q2 24 | $1.6B | $23.4M | ||
| Q1 24 | $1.3B | $46.7M |
自由现金流MPLXROKU
| Q4 25 | $782.0M | $106.6M | ||
| Q3 25 | $905.0M | $126.5M | ||
| Q2 25 | $1.4B | $108.6M | ||
| Q1 25 | $979.0M | $136.8M | ||
| Q4 24 | $1.4B | $76.8M | ||
| Q3 24 | $1.1B | $67.6M | ||
| Q2 24 | $1.4B | $22.5M | ||
| Q1 24 | $1.0B | $46.0M |
自由现金流率MPLXROKU
| Q4 25 | 31.9% | 7.6% | ||
| Q3 25 | 36.8% | 10.4% | ||
| Q2 25 | 60.9% | 9.8% | ||
| Q1 25 | 39.8% | 13.4% | ||
| Q4 24 | 56.6% | 6.4% | ||
| Q3 24 | 48.4% | 6.4% | ||
| Q2 24 | 60.0% | 2.3% | ||
| Q1 24 | 47.7% | 5.2% |
资本支出强度MPLXROKU
| Q4 25 | 29.1% | 0.1% | ||
| Q3 25 | 21.4% | 0.1% | ||
| Q2 25 | 12.8% | 0.1% | ||
| Q1 25 | 10.9% | 0.2% | ||
| Q4 24 | 12.7% | 0.2% | ||
| Q3 24 | 11.9% | 0.1% | ||
| Q2 24 | 9.4% | 0.1% | ||
| Q1 24 | 11.7% | 0.1% |
现金转化率MPLXROKU
| Q4 25 | 1.24× | 1.34× | ||
| Q3 25 | 0.92× | 5.14× | ||
| Q2 25 | 1.64× | 10.45× | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 1.51× | — | ||
| Q3 24 | 1.35× | — | ||
| Q2 24 | 1.32× | — | ||
| Q1 24 | 1.27× | — |
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% |
ROKU
| Services | $1.2B | 88% |
| Products | $170.9M | 12% |
