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MPLX LP（MPLX）与STIFEL FINANCIAL CORP（SF）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STIFEL FINANCIAL CORP的1.5倍（$2.5B vs $1.7B），MPLX LP净利率更高（49.1% vs 15.1%，领先34.0%），STIFEL FINANCIAL CORP同比增速更快（17.7% vs 1.4%），过去两年STIFEL FINANCIAL CORP的营收复合增速更高（44.4% 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。
司迪富金融是美国跨国独立投资银行及金融服务提供商，总部位于密苏里州圣路易斯市中心。其历史可追溯至1890年成立的Altheimer & Rawlings投资公司，1983年正式以Stifel为名成立，1986年11月24日在纽约证券交易所挂牌上市，为全球客户提供多元化金融服务。
MPLX vs SF — 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
SF
高出16.3%
1.4%
净利率更高
MPLX
高出34.0%
15.1%
两年增速更快
SF
近两年复合增速
6.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $1.7B |
| 净利润 | $1.2B | $251.4M |
| 毛利率 | — | — |
| 营业利润率 | 60.5% | 30.8% |
| 净利率 | 49.1% | 15.1% |
| 营收同比 | 1.4% | 17.7% |
| 净利润同比 | 8.5% | 374.4% |
| 每股收益（稀释后） | — | $1.48 |
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MPLXSF
| Q1 26 | — | $1.7B | ||
| Q4 25 | $2.5B | $1.1B | ||
| Q3 25 | $2.5B | $962.6M | ||
| Q2 25 | $2.4B | $838.9M | ||
| Q1 25 | $2.5B | $842.5M | ||
| Q4 24 | $2.4B | $916.0M | ||
| Q3 24 | $2.3B | $810.9M | ||
| Q2 24 | $2.3B | $798.9M |
净利润MPLXSF
| Q1 26 | — | $251.4M | ||
| Q4 25 | $1.2B | $264.4M | ||
| Q3 25 | $1.6B | $211.4M | ||
| Q2 25 | $1.1B | $155.1M | ||
| Q1 25 | $1.1B | $53.0M | ||
| Q4 24 | $1.1B | $244.0M | ||
| Q3 24 | $1.0B | $158.5M | ||
| Q2 24 | $1.2B | $165.3M |
营业利润率MPLXSF
| Q1 26 | — | 30.8% | ||
| Q4 25 | 60.5% | 27.3% | ||
| Q3 25 | 73.2% | 29.7% | ||
| Q2 25 | 54.9% | 25.5% | ||
| Q1 25 | 55.5% | 7.5% | ||
| Q4 24 | 55.6% | 29.1% | ||
| Q3 24 | 54.4% | 26.7% | ||
| Q2 24 | 62.9% | 28.4% |
净利率MPLXSF
| Q1 26 | — | 15.1% | ||
| Q4 25 | 49.1% | 23.5% | ||
| Q3 25 | 63.2% | 22.0% | ||
| Q2 25 | 44.9% | 18.5% | ||
| Q1 25 | 46.2% | 6.3% | ||
| Q4 24 | 45.9% | 26.6% | ||
| Q3 24 | 44.6% | 19.5% | ||
| Q2 24 | 52.6% | 20.7% |
每股收益（稀释后）MPLXSF
| Q1 26 | — | $1.48 | ||
| Q4 25 | — | $2.30 | ||
| Q3 25 | — | $1.84 | ||
| Q2 25 | — | $1.34 | ||
| Q1 25 | — | $0.39 | ||
| Q4 24 | — | $2.10 | ||
| Q3 24 | — | $1.34 | ||
| Q2 24 | — | $1.41 |
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 | — |
| 股东权益账面价值 | — | $332.3M |
| 总资产 | $43.0B | $42.9B |
| 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MPLXSF
| Q1 26 | — | — | ||
| Q4 25 | $2.1B | $2.3B | ||
| Q3 25 | $1.8B | $3.2B | ||
| Q2 25 | $1.4B | $1.9B | ||
| Q1 25 | $2.5B | $2.7B | ||
| Q4 24 | $1.5B | $2.6B | ||
| Q3 24 | $2.4B | $1.9B | ||
| Q2 24 | $2.5B | $2.6B |
总债务MPLXSF
| Q1 26 | — | — | ||
| Q4 25 | $24.2B | $617.4M | ||
| Q3 25 | $24.1B | $617.2M | ||
| Q2 25 | $19.7B | $617.0M | ||
| Q1 25 | $19.7B | $616.8M | ||
| Q4 24 | $19.3B | $616.6M | ||
| Q3 24 | $19.3B | $616.4M | ||
| Q2 24 | $19.2B | $1.1B |
股东权益MPLXSF
| Q1 26 | — | $332.3M | ||
| Q4 25 | — | $6.0B | ||
| Q3 25 | — | $5.8B | ||
| Q2 25 | — | $5.6B | ||
| Q1 25 | — | $5.5B | ||
| Q4 24 | — | $5.7B | ||
| Q3 24 | — | $5.6B | ||
| Q2 24 | — | $5.4B |
总资产MPLXSF
| Q1 26 | — | $42.9B | ||
| Q4 25 | $43.0B | $41.3B | ||
| Q3 25 | $43.2B | $41.7B | ||
| Q2 25 | $37.8B | $39.9B | ||
| Q1 25 | $39.0B | $40.4B | ||
| Q4 24 | $37.5B | $39.9B | ||
| Q3 24 | $38.5B | $38.9B | ||
| Q2 24 | $38.4B | $37.8B |
负债/权益比MPLXSF
| Q1 26 | — | — | ||
| Q4 25 | — | 0.10× | ||
| Q3 25 | — | 0.11× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.11× | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | — | 0.11× | ||
| Q2 24 | — | 0.21× |
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MPLXSF
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $382.4M | ||
| Q3 25 | $1.4B | $338.3M | ||
| Q2 25 | $1.7B | $607.5M | ||
| Q1 25 | $1.2B | $-211.2M | ||
| Q4 24 | $1.7B | $694.6M | ||
| Q3 24 | $1.4B | $198.3M | ||
| Q2 24 | $1.6B | $207.2M |
自由现金流MPLXSF
| Q1 26 | — | — | ||
| Q4 25 | $782.0M | $369.0M | ||
| Q3 25 | $905.0M | $321.1M | ||
| Q2 25 | $1.4B | $592.7M | ||
| Q1 25 | $979.0M | $-227.8M | ||
| Q4 24 | $1.4B | $677.2M | ||
| Q3 24 | $1.1B | $185.6M | ||
| Q2 24 | $1.4B | $173.3M |
自由现金流率MPLXSF
| Q1 26 | — | — | ||
| Q4 25 | 31.9% | 32.7% | ||
| Q3 25 | 36.8% | 33.4% | ||
| Q2 25 | 60.9% | 70.6% | ||
| Q1 25 | 39.8% | -27.0% | ||
| Q4 24 | 56.6% | 73.9% | ||
| Q3 24 | 48.4% | 22.9% | ||
| Q2 24 | 60.0% | 21.7% |
资本支出强度MPLXSF
| Q1 26 | — | — | ||
| Q4 25 | 29.1% | 1.2% | ||
| Q3 25 | 21.4% | 1.8% | ||
| Q2 25 | 12.8% | 1.8% | ||
| Q1 25 | 10.9% | 2.0% | ||
| Q4 24 | 12.7% | 1.9% | ||
| Q3 24 | 11.9% | 1.6% | ||
| Q2 24 | 9.4% | 4.2% |
现金转化率MPLXSF
| Q1 26 | — | — | ||
| Q4 25 | 1.24× | 1.45× | ||
| Q3 25 | 0.92× | 1.60× | ||
| Q2 25 | 1.64× | 3.92× | ||
| Q1 25 | 1.10× | -3.99× | ||
| Q4 24 | 1.51× | 2.85× | ||
| Q3 24 | 1.35× | 1.25× | ||
| Q2 24 | 1.32× | 1.25× |
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% |
SF
| Other | $506.7M | 30% |
| Asset management | $459.5M | 28% |
| Investment banking | $341.4M | 20% |
| Commissions | $207.8M | 12% |
| Principal transactions | $150.2M | 9% |
