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Murphy USA Inc.（MUSA）与QVC INC（QVCD）财务数据对比。点击上方公司名可切换其他公司
Murphy USA Inc.的季度营收约是QVC INC的2.0倍（$4.7B vs $2.4B），Murphy USA Inc.净利率更高（3.0% vs 1.5%，领先1.5%），Murphy USA Inc.同比增速更快（0.7% vs -8.9%），过去两年QVC INC的营收复合增速更高（7.1% vs -1.0%）
墨菲美国是总部位于美国阿肯色州埃尔多拉多的企业，2013年由墨菲石油分拆后独立运营，主营连锁零售加油站业务，旗下站点大多毗邻沃尔玛门店开设，为消费者提供燃油及配套零售服务。
QVC集团是一家美国媒体 conglomerate，由公司董事长约翰·C·马龙控股，马龙持有该集团多数有表决权股份，业务覆盖媒体相关领域，是美国颇具影响力的传媒企业集团。
MUSA vs QVCD — 直观对比
营收规模更大
MUSA
是对方的2.0倍
$2.4B
营收增速更快
MUSA
高出9.7%
-8.9%
净利率更高
MUSA
高出1.5%
1.5%
两年增速更快
QVCD
近两年复合增速
-1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $2.4B |
| 净利润 | $141.9M | $37.0M |
| 毛利率 | — | 32.5% |
| 营业利润率 | 4.4% | 5.6% |
| 净利率 | 3.0% | 1.5% |
| 营收同比 | 0.7% | -8.9% |
| 净利润同比 | -0.4% | 103.0% |
| 每股收益（稀释后） | $7.35 | — |
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MUSAQVCD
| Q4 25 | $4.7B | $2.4B | ||
| Q3 25 | $5.1B | $2.0B | ||
| Q2 25 | $5.0B | $2.0B | ||
| Q1 25 | $4.5B | $1.9B | ||
| Q4 24 | $4.7B | $2.7B | ||
| Q3 24 | $5.2B | $2.1B | ||
| Q2 24 | $5.5B | $2.1B | ||
| Q1 24 | $4.8B | $2.1B |
净利润MUSAQVCD
| Q4 25 | $141.9M | $37.0M | ||
| Q3 25 | $129.9M | $2.0M | ||
| Q2 25 | $145.6M | $-2.2B | ||
| Q1 25 | $53.2M | $-42.0M | ||
| Q4 24 | $142.5M | $-1.2B | ||
| Q3 24 | $149.2M | $51.0M | ||
| Q2 24 | $144.8M | $53.0M | ||
| Q1 24 | $66.0M | $51.0M |
毛利率MUSAQVCD
| Q4 25 | — | 32.5% | ||
| Q3 25 | — | 33.6% | ||
| Q2 25 | — | 35.4% | ||
| Q1 25 | — | 33.3% | ||
| Q4 24 | — | 32.6% | ||
| Q3 24 | — | 34.7% | ||
| Q2 24 | — | 35.6% | ||
| Q1 24 | — | 35.0% |
营业利润率MUSAQVCD
| Q4 25 | 4.4% | 5.6% | ||
| Q3 25 | 3.9% | 4.6% | ||
| Q2 25 | 4.4% | -114.5% | ||
| Q1 25 | 1.9% | 1.5% | ||
| Q4 24 | 4.2% | -47.1% | ||
| Q3 24 | 4.2% | 7.8% | ||
| Q2 24 | 4.0% | 7.6% | ||
| Q1 24 | 2.2% | 7.4% |
净利率MUSAQVCD
| Q4 25 | 3.0% | 1.5% | ||
| Q3 25 | 2.5% | 0.1% | ||
| Q2 25 | 2.9% | -109.1% | ||
| Q1 25 | 1.2% | -2.2% | ||
| Q4 24 | 3.0% | -46.0% | ||
| Q3 24 | 2.8% | 2.4% | ||
| Q2 24 | 2.7% | 2.5% | ||
| Q1 24 | 1.4% | 2.4% |
每股收益（稀释后）MUSAQVCD
| Q4 25 | $7.35 | — | ||
| Q3 25 | $6.76 | — | ||
| Q2 25 | $7.36 | — | ||
| Q1 25 | $2.63 | — | ||
| Q4 24 | $6.87 | — | ||
| Q3 24 | $7.20 | — | ||
| Q2 24 | $6.92 | — | ||
| Q1 24 | $3.12 | — |
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 | $28.9M | $1.5B |
| 总债务越低越好 | $2.2B | $1.0M |
| 股东权益账面价值 | $623.5M | $1.2B |
| 总资产 | $4.7B | $8.5B |
| 负债/权益比越低杠杆越低 | 3.47× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资MUSAQVCD
| Q4 25 | $28.9M | $1.5B | ||
| Q3 25 | $42.8M | — | ||
| Q2 25 | $54.1M | — | ||
| Q1 25 | $49.4M | — | ||
| Q4 24 | $47.0M | $297.0M | ||
| Q3 24 | $52.5M | $297.0M | ||
| Q2 24 | $79.8M | $315.0M | ||
| Q1 24 | $56.7M | $311.0M |
总债务MUSAQVCD
| Q4 25 | $2.2B | $1.0M | ||
| Q3 25 | $2.2B | $5.0B | ||
| Q2 25 | $2.1B | $4.0B | ||
| Q1 25 | $2.0B | $4.0B | ||
| Q4 24 | $1.8B | $3.3B | ||
| Q3 24 | $1.8B | $3.4B | ||
| Q2 24 | $1.8B | $3.7B | ||
| Q1 24 | $1.8B | $3.8B |
股东权益MUSAQVCD
| Q4 25 | $623.5M | $1.2B | ||
| Q3 25 | $546.0M | $1.2B | ||
| Q2 25 | $646.1M | $1.2B | ||
| Q1 25 | $719.6M | $3.3B | ||
| Q4 24 | $840.1M | $3.3B | ||
| Q3 24 | $830.1M | $4.6B | ||
| Q2 24 | $811.3M | $4.3B | ||
| Q1 24 | $781.6M | $4.2B |
总资产MUSAQVCD
| Q4 25 | $4.7B | $8.5B | ||
| Q3 25 | $4.7B | $8.3B | ||
| Q2 25 | $4.6B | $7.4B | ||
| Q1 25 | $4.5B | $9.7B | ||
| Q4 24 | $4.5B | $9.9B | ||
| Q3 24 | $4.4B | $9.9B | ||
| Q2 24 | $4.4B | $11.2B | ||
| Q1 24 | $4.3B | $11.4B |
负债/权益比MUSAQVCD
| Q4 25 | 3.47× | 0.00× | ||
| Q3 25 | 4.07× | 4.30× | ||
| Q2 25 | 3.20× | 3.42× | ||
| Q1 25 | 2.74× | 1.22× | ||
| Q4 24 | 2.18× | 1.01× | ||
| Q3 24 | 2.19× | 0.73× | ||
| Q2 24 | 2.20× | 0.87× | ||
| Q1 24 | 2.28× | 0.89× |
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 | $245.5M | $245.0M |
| 自由现金流经营现金流 - 资本支出 | $128.8M | — |
| 自由现金流率自由现金流/营收 | 2.7% | — |
| 资本支出强度资本支出/营收 | 2.5% | — |
| 现金转化率经营现金流/净利润 | 1.73× | 6.62× |
| 过去12个月自由现金流最近4个季度 | $374.3M | — |
8季度趋势，按日历期对齐
经营现金流MUSAQVCD
| Q4 25 | $245.5M | $245.0M | ||
| Q3 25 | $184.8M | $76.0M | ||
| Q2 25 | $255.1M | $52.0M | ||
| Q1 25 | $128.5M | $46.0M | ||
| Q4 24 | $248.7M | $189.0M | ||
| Q3 24 | $202.1M | $98.0M | ||
| Q2 24 | $260.8M | $164.0M | ||
| Q1 24 | $136.0M | $84.0M |
自由现金流MUSAQVCD
| Q4 25 | $128.8M | — | ||
| Q3 25 | $67.7M | — | ||
| Q2 25 | $137.1M | — | ||
| Q1 25 | $40.7M | — | ||
| Q4 24 | $121.7M | — | ||
| Q3 24 | $65.2M | — | ||
| Q2 24 | $142.8M | — | ||
| Q1 24 | $59.8M | — |
自由现金流率MUSAQVCD
| Q4 25 | 2.7% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 2.7% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 1.2% | — | ||
| Q2 24 | 2.6% | — | ||
| Q1 24 | 1.2% | — |
资本支出强度MUSAQVCD
| Q4 25 | 2.5% | — | ||
| Q3 25 | 2.3% | — | ||
| Q2 25 | 2.4% | — | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 2.6% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 1.6% | — |
现金转化率MUSAQVCD
| Q4 25 | 1.73× | 6.62× | ||
| Q3 25 | 1.42× | 38.00× | ||
| Q2 25 | 1.75× | — | ||
| Q1 25 | 2.42× | — | ||
| Q4 24 | 1.75× | — | ||
| Q3 24 | 1.35× | 1.92× | ||
| Q2 24 | 1.80× | 3.09× | ||
| Q1 24 | 2.06× | 1.65× |
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
MUSA
| Product Sales Petroleum Retail | $3.3B | 69% |
| Merchandise | $1.1B | 23% |
| Product Sales Petroleum Wholesale | $327.9M | 7% |
| Other | $57.0M | 1% |
| Renewable Identification Numbers | $55.3M | 1% |
| Revenue Other | $1.3M | 0% |
QVCD
| Home | $754.0M | 31% |
| QVC International | $661.0M | 27% |
| Beauty | $260.0M | 11% |
| Apparel | $254.0M | 10% |
| Electronics | $187.0M | 8% |
| Accessories | $181.0M | 7% |
| Jewelry | $87.0M | 4% |
| Otherrevenue | $38.0M | 2% |
