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MPLX LP（MPLX）与RUSH ENTERPRISES INC \TX\（RUSHA）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RUSH ENTERPRISES INC \TX\的1.5倍（$2.5B vs $1.7B），MPLX LP净利率更高（49.1% vs 3.7%，领先45.4%），MPLX LP同比增速更快（1.4% vs -9.0%），MPLX LP自由现金流更多（$782.0M vs $411.6M），过去两年MPLX LP的营收复合增速更高（6.2% vs -6.8%）
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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
MPLX vs RUSHA — 直观对比
营收规模更大
MPLX
是对方的1.5倍
$1.7B
营收增速更快
MPLX
高出10.4%
-9.0%
净利率更高
MPLX
高出45.4%
3.7%
自由现金流更多
MPLX
多$370.4M
$411.6M
两年增速更快
MPLX
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $1.7B |
| 净利润 | $1.2B | $61.7M |
| 毛利率 | — | 20.4% |
| 营业利润率 | 60.5% | 4.9% |
| 净利率 | 49.1% | 3.7% |
| 营收同比 | 1.4% | -9.0% |
| 净利润同比 | 8.5% | 1.8% |
| 每股收益（稀释后） | — | $0.77 |
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MPLXRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $2.5B | $1.7B | ||
| Q3 25 | $2.5B | $1.8B | ||
| Q2 25 | $2.4B | $1.8B | ||
| Q1 25 | $2.5B | $1.8B | ||
| Q4 24 | $2.4B | $1.9B | ||
| Q3 24 | $2.3B | $1.8B | ||
| Q2 24 | $2.3B | $1.9B |
净利润MPLXRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $1.2B | $64.3M | ||
| Q3 25 | $1.6B | $66.7M | ||
| Q2 25 | $1.1B | $72.4M | ||
| Q1 25 | $1.1B | $60.3M | ||
| Q4 24 | $1.1B | $74.8M | ||
| Q3 24 | $1.0B | $79.1M | ||
| Q2 24 | $1.2B | $78.7M |
毛利率MPLXRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | — | 20.8% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 20.7% | ||
| Q1 25 | — | 20.3% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | — | 20.2% |
营业利润率MPLXRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 60.5% | 5.5% | ||
| Q3 25 | 73.2% | 5.6% | ||
| Q2 25 | 54.9% | 6.0% | ||
| Q1 25 | 55.5% | 5.2% | ||
| Q4 24 | 55.6% | 5.8% | ||
| Q3 24 | 54.4% | 6.7% | ||
| Q2 24 | 62.9% | 6.4% |
净利率MPLXRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 49.1% | 3.8% | ||
| Q3 25 | 63.2% | 3.7% | ||
| Q2 25 | 44.9% | 3.9% | ||
| Q1 25 | 46.2% | 3.4% | ||
| Q4 24 | 45.9% | 3.9% | ||
| Q3 24 | 44.6% | 4.4% | ||
| Q2 24 | 52.6% | 4.1% |
每股收益（稀释后）MPLXRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | — | $0.81 | ||
| Q3 25 | — | $0.83 | ||
| Q2 25 | — | $0.90 | ||
| Q1 25 | — | $0.73 | ||
| Q4 24 | — | $-95.13 | ||
| Q3 24 | — | $0.97 | ||
| Q2 24 | — | $97.00 |
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 | — |
| 总债务越低越好 | $24.2B | $277.8M |
| 股东权益账面价值 | — | $2.3B |
| 总资产 | $43.0B | $4.5B |
| 负债/权益比越低杠杆越低 | — | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资MPLXRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $2.1B | $212.6M | ||
| Q3 25 | $1.8B | $242.0M | ||
| Q2 25 | $1.4B | $211.1M | ||
| Q1 25 | $2.5B | $228.7M | ||
| Q4 24 | $1.5B | $228.1M | ||
| Q3 24 | $2.4B | $185.1M | ||
| Q2 24 | $2.5B | $167.3M |
总债务MPLXRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $24.2B | $274.8M | ||
| Q3 25 | $24.1B | — | ||
| Q2 25 | $19.7B | — | ||
| Q1 25 | $19.7B | — | ||
| Q4 24 | $19.3B | $408.4M | ||
| Q3 24 | $19.3B | — | ||
| Q2 24 | $19.2B | — |
股东权益MPLXRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.0B |
总资产MPLXRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $43.0B | $4.4B | ||
| Q3 25 | $43.2B | $4.6B | ||
| Q2 25 | $37.8B | $4.7B | ||
| Q1 25 | $39.0B | $4.7B | ||
| Q4 24 | $37.5B | $4.6B | ||
| Q3 24 | $38.5B | $4.6B | ||
| Q2 24 | $38.4B | $4.5B |
负债/权益比MPLXRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $411.6M |
| 自由现金流率自由现金流/营收 | 31.9% | 24.4% |
| 资本支出强度资本支出/营收 | 29.1% | 2.0% |
| 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 | $828.4M |
8季度趋势，按日历期对齐
经营现金流MPLXRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $112.9M | ||
| Q3 25 | $1.4B | $367.8M | ||
| Q2 25 | $1.7B | $227.6M | ||
| Q1 25 | $1.2B | $153.5M | ||
| Q4 24 | $1.7B | $392.3M | ||
| Q3 24 | $1.4B | $111.7M | ||
| Q2 24 | $1.6B | $270.6M |
自由现金流MPLXRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $782.0M | $31.9M | ||
| Q3 25 | $905.0M | $271.2M | ||
| Q2 25 | $1.4B | $113.8M | ||
| Q1 25 | $979.0M | $45.1M | ||
| Q4 24 | $1.4B | $263.5M | ||
| Q3 24 | $1.1B | $-20.0M | ||
| Q2 24 | $1.4B | $177.2M |
自由现金流率MPLXRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | 31.9% | 1.9% | ||
| Q3 25 | 36.8% | 15.2% | ||
| Q2 25 | 60.9% | 6.2% | ||
| Q1 25 | 39.8% | 2.6% | ||
| Q4 24 | 56.6% | 13.7% | ||
| Q3 24 | 48.4% | -1.1% | ||
| Q2 24 | 60.0% | 9.1% |
资本支出强度MPLXRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 29.1% | 4.8% | ||
| Q3 25 | 21.4% | 5.4% | ||
| Q2 25 | 12.8% | 6.2% | ||
| Q1 25 | 10.9% | 6.2% | ||
| Q4 24 | 12.7% | 6.7% | ||
| Q3 24 | 11.9% | 7.3% | ||
| Q2 24 | 9.4% | 4.8% |
现金转化率MPLXRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 1.24× | 1.75× | ||
| Q3 25 | 0.92× | 5.51× | ||
| Q2 25 | 1.64× | 3.14× | ||
| Q1 25 | 1.10× | 2.55× | ||
| Q4 24 | 1.51× | 5.25× | ||
| Q3 24 | 1.35× | 1.41× | ||
| Q2 24 | 1.32× | 3.44× |
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% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
