vs
NGL Energy Partners LP（NGL）与RBC Bearings INC（RBC）财务数据对比。点击上方公司名可切换其他公司
NGL Energy Partners LP的季度营收约是RBC Bearings INC的2.0倍（$909.8M vs $461.6M），RBC Bearings INC净利率更高（14.6% vs 5.2%，领先9.4%），RBC Bearings INC同比增速更快（17.0% vs -41.3%），RBC Bearings INC自由现金流更多（$99.1M vs $45.7M），过去两年RBC Bearings INC的营收复合增速更高（5.6% vs -6.4%）
NGL Energy Partners LP是一家总部位于美国的中游能源服务企业，主营原油、液化天然气、可再生燃料的运输、存储及物流服务，同时为上游能源生产商提供水资源管理解决方案，业务主要覆盖北美市场。
该文本实际介绍的并非RBC Bearings，而是美国多佛公司。多佛是一家工业产品综合制造商，1955年成立，总部位于伊利诺伊州当纳斯格罗夫。2021年其业务分为五大板块：工程产品、清洁能源与加注、成像与识别、泵与工艺解决方案、气候与可持续技术，是标普500成分股，在纽约证券交易所上市。
NGL vs RBC — 直观对比
营收规模更大
NGL
是对方的2.0倍
$461.6M
营收增速更快
RBC
高出58.3%
-41.3%
净利率更高
RBC
高出9.4%
5.2%
自由现金流更多
RBC
多$53.4M
$45.7M
两年增速更快
RBC
近两年复合增速
-6.4%
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $909.8M | $461.6M |
| 净利润 | $47.2M | $67.4M |
| 毛利率 | 29.0% | 44.3% |
| 营业利润率 | 12.1% | 22.3% |
| 净利率 | 5.2% | 14.6% |
| 营收同比 | -41.3% | 17.0% |
| 净利润同比 | 249.3% | 16.4% |
| 每股收益（稀释后） | — | $2.13 |
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NGLRBC
| Q4 25 | $909.8M | $461.6M | ||
| Q3 25 | $674.7M | $455.3M | ||
| Q2 25 | $622.2M | $436.0M | ||
| Q1 25 | $971.1M | $437.7M | ||
| Q4 24 | $982.4M | $394.4M | ||
| Q3 24 | $756.5M | $397.9M | ||
| Q2 24 | $759.2M | $406.3M | ||
| Q1 24 | $1.0B | $413.7M |
净利润NGLRBC
| Q4 25 | $47.2M | $67.4M | ||
| Q3 25 | $29.3M | $60.0M | ||
| Q2 25 | $68.9M | $68.5M | ||
| Q1 25 | $13.7M | $72.7M | ||
| Q4 24 | $13.5M | $57.9M | ||
| Q3 24 | $2.5M | $54.2M | ||
| Q2 24 | $9.7M | $61.4M | ||
| Q1 24 | $-236.8M | — |
毛利率NGLRBC
| Q4 25 | 29.0% | 44.3% | ||
| Q3 25 | 37.6% | 44.1% | ||
| Q2 25 | 38.5% | 44.8% | ||
| Q1 25 | 26.9% | 44.2% | ||
| Q4 24 | 25.1% | 44.3% | ||
| Q3 24 | 30.9% | 43.7% | ||
| Q2 24 | 29.0% | 45.3% | ||
| Q1 24 | 21.8% | 43.1% |
营业利润率NGLRBC
| Q4 25 | 12.1% | 22.3% | ||
| Q3 25 | 14.0% | 21.5% | ||
| Q2 25 | 15.7% | 23.2% | ||
| Q1 25 | 8.4% | 23.0% | ||
| Q4 24 | 8.6% | 21.7% | ||
| Q3 24 | 10.8% | 21.6% | ||
| Q2 24 | 10.8% | 24.0% | ||
| Q1 24 | -9.4% | 22.8% |
净利率NGLRBC
| Q4 25 | 5.2% | 14.6% | ||
| Q3 25 | 4.3% | 13.2% | ||
| Q2 25 | 11.1% | 15.7% | ||
| Q1 25 | 1.4% | 16.6% | ||
| Q4 24 | 1.4% | 14.7% | ||
| Q3 24 | 0.3% | 13.6% | ||
| Q2 24 | 1.3% | 15.1% | ||
| Q1 24 | -22.8% | — |
每股收益（稀释后）NGLRBC
| Q4 25 | — | $2.13 | ||
| Q3 25 | — | $1.90 | ||
| Q2 25 | — | $2.17 | ||
| Q1 25 | — | $2.33 | ||
| Q4 24 | — | $1.82 | ||
| Q3 24 | — | $1.65 | ||
| Q2 24 | — | $1.90 | ||
| Q1 24 | — | $1.92 |
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 | $6.5M | $107.6M |
| 总债务越低越好 | $2.9B | $990.2M |
| 股东权益账面价值 | — | $3.3B |
| 总资产 | $4.4B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资NGLRBC
| Q4 25 | $6.5M | $107.6M | ||
| Q3 25 | $8.7M | $91.2M | ||
| Q2 25 | $5.4M | $132.9M | ||
| Q1 25 | $13.5M | $36.8M | ||
| Q4 24 | $5.7M | — | ||
| Q3 24 | $4.5M | — | ||
| Q2 24 | $5.3M | $76.8M | ||
| Q1 24 | $38.9M | $63.5M |
总债务NGLRBC
| Q4 25 | $2.9B | $990.2M | ||
| Q3 25 | $2.9B | $1.1B | ||
| Q2 25 | $2.9B | $915.6M | ||
| Q1 25 | $3.0B | $920.1M | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $2.9B | $1.2B |
股东权益NGLRBC
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $3.2B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.8B |
总资产NGLRBC
| Q4 25 | $4.4B | $5.1B | ||
| Q3 25 | $4.3B | $5.1B | ||
| Q2 25 | $4.2B | $4.8B | ||
| Q1 25 | $4.6B | $4.7B | ||
| Q4 24 | $4.8B | $4.7B | ||
| Q3 24 | $4.9B | $4.7B | ||
| Q2 24 | $4.8B | $4.7B | ||
| Q1 24 | $5.0B | $4.7B |
负债/权益比NGLRBC
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.43× |
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 | $182.3M | $122.1M |
| 自由现金流经营现金流 - 资本支出 | $45.7M | $99.1M |
| 自由现金流率自由现金流/营收 | 5.0% | 21.5% |
| 资本支出强度资本支出/营收 | 15.0% | 5.0% |
| 现金转化率经营现金流/净利润 | 3.86× | 1.81× |
| 过去12个月自由现金流最近4个季度 | $126.7M | — |
8季度趋势，按日历期对齐
经营现金流NGLRBC
| Q4 25 | $182.3M | $122.1M | ||
| Q3 25 | $40.5M | $88.4M | ||
| Q2 25 | $33.2M | $120.0M | ||
| Q1 25 | $155.0M | — | ||
| Q4 24 | $153.8M | $84.0M | ||
| Q3 24 | $6.7M | — | ||
| Q2 24 | $-18.1M | $97.4M | ||
| Q1 24 | $152.2M | — |
自由现金流NGLRBC
| Q4 25 | $45.7M | $99.1M | ||
| Q3 25 | $9.5M | $71.7M | ||
| Q2 25 | $11.1M | $104.3M | ||
| Q1 25 | $60.4M | — | ||
| Q4 24 | $152.1M | $73.6M | ||
| Q3 24 | $-82.9M | — | ||
| Q2 24 | $-78.0M | $88.4M | ||
| Q1 24 | $119.8M | — |
自由现金流率NGLRBC
| Q4 25 | 5.0% | 21.5% | ||
| Q3 25 | 1.4% | 15.7% | ||
| Q2 25 | 1.8% | 23.9% | ||
| Q1 25 | 6.2% | — | ||
| Q4 24 | 15.5% | 18.7% | ||
| Q3 24 | -11.0% | — | ||
| Q2 24 | -10.3% | 21.8% | ||
| Q1 24 | 11.5% | — |
资本支出强度NGLRBC
| Q4 25 | 15.0% | 5.0% | ||
| Q3 25 | 4.6% | 3.7% | ||
| Q2 25 | 3.6% | 3.6% | ||
| Q1 25 | 9.7% | 3.2% | ||
| Q4 24 | 0.2% | 2.6% | ||
| Q3 24 | 11.8% | 4.1% | ||
| Q2 24 | 7.9% | 2.2% | ||
| Q1 24 | 3.1% | — |
现金转化率NGLRBC
| Q4 25 | 3.86× | 1.81× | ||
| Q3 25 | 1.38× | 1.47× | ||
| Q2 25 | 0.48× | 1.75× | ||
| Q1 25 | 11.29× | — | ||
| Q4 24 | 11.39× | 1.45× | ||
| Q3 24 | 2.74× | — | ||
| Q2 24 | -1.87× | 1.59× | ||
| Q1 24 | — | — |
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
NGL
| Water Solutions Segment | $208.6M | 23% |
| Services | $193.3M | 21% |
| Butane | $192.5M | 21% |
| Service Fees | $182.8M | 20% |
| Public Utilities Inventory Propane | $93.9M | 10% |
| Crude Oil | $23.3M | 3% |
| Crude Oil Transportation And Other | $6.5M | 1% |
| Liquids Logistics Segment | $2.5M | 0% |
| Crude Oil Logistics Segment | $1.2M | 0% |
RBC
| Domestic | $413.3M | 90% |
| Foreign | $48.3M | 10% |
