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NGL Energy Partners LP（NGL）与罗布乐思（RBLX）财务数据对比。点击上方公司名可切换其他公司
罗布乐思的季度营收约是NGL Energy Partners LP的1.6倍（$1.4B vs $909.8M），NGL Energy Partners LP净利率更高（5.2% vs -22.3%，领先27.5%），罗布乐思同比增速更快（43.2% vs -41.3%），罗布乐思自由现金流更多（$308.6M vs $45.7M），过去两年罗布乐思的营收复合增速更高（32.9% 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。
罗布乐思（Roblox Corporation）是总部位于美国加利福尼亚州圣马特奥的游戏企业，由大卫·巴斯祖奇与埃里克·卡塞尔于2004年共同创立。公司核心产品为同名线上游戏创作平台Roblox，于2006年正式上线，截至2024年12月底全球员工规模已超2400人。
NGL vs RBLX — 直观对比
营收规模更大
RBLX
是对方的1.6倍
$909.8M
营收增速更快
RBLX
高出84.5%
-41.3%
净利率更高
NGL
高出27.5%
-22.3%
自由现金流更多
RBLX
多$262.9M
$45.7M
两年增速更快
RBLX
近两年复合增速
-6.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $909.8M | $1.4B |
| 净利润 | $47.2M | $-316.0M |
| 毛利率 | 29.0% | 77.7% |
| 营业利润率 | 12.1% | -25.3% |
| 净利率 | 5.2% | -22.3% |
| 营收同比 | -41.3% | 43.2% |
| 净利润同比 | 249.3% | -43.9% |
| 每股收益（稀释后） | — | $-0.44 |
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NGLRBLX
| Q4 25 | $909.8M | $1.4B | ||
| Q3 25 | $674.7M | $1.4B | ||
| Q2 25 | $622.2M | $1.1B | ||
| Q1 25 | $971.1M | $1.0B | ||
| Q4 24 | $982.4M | $988.2M | ||
| Q3 24 | $756.5M | $919.0M | ||
| Q2 24 | $759.2M | $893.5M | ||
| Q1 24 | $1.0B | $801.3M |
净利润NGLRBLX
| Q4 25 | $47.2M | $-316.0M | ||
| Q3 25 | $29.3M | $-255.6M | ||
| Q2 25 | $68.9M | $-278.4M | ||
| Q1 25 | $13.7M | $-215.1M | ||
| Q4 24 | $13.5M | $-219.6M | ||
| Q3 24 | $2.5M | $-239.3M | ||
| Q2 24 | $9.7M | $-205.9M | ||
| Q1 24 | $-236.8M | $-270.6M |
毛利率NGLRBLX
| Q4 25 | 29.0% | 77.7% | ||
| Q3 25 | 37.6% | 78.2% | ||
| Q2 25 | 38.5% | 78.2% | ||
| Q1 25 | 26.9% | 78.3% | ||
| Q4 24 | 25.1% | 77.9% | ||
| Q3 24 | 30.9% | 77.7% | ||
| Q2 24 | 29.0% | 77.8% | ||
| Q1 24 | 21.8% | 77.7% |
营业利润率NGLRBLX
| Q4 25 | 12.1% | -25.3% | ||
| Q3 25 | 14.0% | -21.8% | ||
| Q2 25 | 15.7% | -29.8% | ||
| Q1 25 | 8.4% | -24.6% | ||
| Q4 24 | 8.6% | -24.7% | ||
| Q3 24 | 10.8% | -30.4% | ||
| Q2 24 | 10.8% | -26.6% | ||
| Q1 24 | -9.4% | -37.7% |
净利率NGLRBLX
| Q4 25 | 5.2% | -22.3% | ||
| Q3 25 | 4.3% | -18.8% | ||
| Q2 25 | 11.1% | -25.8% | ||
| Q1 25 | 1.4% | -20.8% | ||
| Q4 24 | 1.4% | -22.2% | ||
| Q3 24 | 0.3% | -26.0% | ||
| Q2 24 | 1.3% | -23.0% | ||
| Q1 24 | -22.8% | -33.8% |
每股收益（稀释后）NGLRBLX
| Q4 25 | — | $-0.44 | ||
| Q3 25 | — | $-0.37 | ||
| Q2 25 | — | $-0.41 | ||
| Q1 25 | — | $-0.32 | ||
| Q4 24 | — | $-0.32 | ||
| Q3 24 | — | $-0.37 | ||
| Q2 24 | — | $-0.32 | ||
| Q1 24 | — | $-0.43 |
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 | $3.1B |
| 总债务越低越好 | $2.9B | $1.2B |
| 股东权益账面价值 | — | $394.5M |
| 总资产 | $4.4B | $9.6B |
| 负债/权益比越低杠杆越低 | — | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资NGLRBLX
| Q4 25 | $6.5M | $3.1B | ||
| Q3 25 | $8.7M | $2.9B | ||
| Q2 25 | $5.4M | $2.6B | ||
| Q1 25 | $13.5M | $2.7B | ||
| Q4 24 | $5.7M | $2.4B | ||
| Q3 24 | $4.5M | $2.3B | ||
| Q2 24 | $5.3M | $2.4B | ||
| Q1 24 | $38.9M | $2.4B |
总债务NGLRBLX
| Q4 25 | $2.9B | $1.2B | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $2.9B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.1B | $1.2B | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $2.9B | — |
股东权益NGLRBLX
| Q4 25 | — | $394.5M | ||
| Q3 25 | — | $407.6M | ||
| Q2 25 | — | $353.2M | ||
| Q1 25 | — | $310.7M | ||
| Q4 24 | — | $221.4M | ||
| Q3 24 | — | $189.9M | ||
| Q2 24 | — | $121.5M | ||
| Q1 24 | — | $71.6M |
总资产NGLRBLX
| Q4 25 | $4.4B | $9.6B | ||
| Q3 25 | $4.3B | $8.6B | ||
| Q2 25 | $4.2B | $7.8B | ||
| Q1 25 | $4.6B | $7.5B | ||
| Q4 24 | $4.8B | $7.2B | ||
| Q3 24 | $4.9B | $6.7B | ||
| Q2 24 | $4.8B | $6.5B | ||
| Q1 24 | $5.0B | $6.3B |
负债/权益比NGLRBLX
| Q4 25 | — | 2.98× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.48× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $182.3M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $45.7M | $308.6M |
| 自由现金流率自由现金流/营收 | 5.0% | 21.8% |
| 资本支出强度资本支出/营收 | 15.0% | 21.1% |
| 现金转化率经营现金流/净利润 | 3.86× | — |
| 过去12个月自由现金流最近4个季度 | $126.7M | $1.4B |
8季度趋势，按日历期对齐
经营现金流NGLRBLX
| Q4 25 | $182.3M | $607.0M | ||
| Q3 25 | $40.5M | $546.2M | ||
| Q2 25 | $33.2M | $199.3M | ||
| Q1 25 | $155.0M | $443.9M | ||
| Q4 24 | $153.8M | $184.5M | ||
| Q3 24 | $6.7M | $247.4M | ||
| Q2 24 | $-18.1M | $151.4M | ||
| Q1 24 | $152.2M | $238.9M |
自由现金流NGLRBLX
| Q4 25 | $45.7M | $308.6M | ||
| Q3 25 | $9.5M | $443.6M | ||
| Q2 25 | $11.1M | $176.7M | ||
| Q1 25 | $60.4M | $426.5M | ||
| Q4 24 | $152.1M | $120.6M | ||
| Q3 24 | $-82.9M | $218.0M | ||
| Q2 24 | $-78.0M | $111.7M | ||
| Q1 24 | $119.8M | $192.3M |
自由现金流率NGLRBLX
| Q4 25 | 5.0% | 21.8% | ||
| Q3 25 | 1.4% | 32.6% | ||
| Q2 25 | 1.8% | 16.3% | ||
| Q1 25 | 6.2% | 41.2% | ||
| Q4 24 | 15.5% | 12.2% | ||
| Q3 24 | -11.0% | 23.7% | ||
| Q2 24 | -10.3% | 12.5% | ||
| Q1 24 | 11.5% | 24.0% |
资本支出强度NGLRBLX
| Q4 25 | 15.0% | 21.1% | ||
| Q3 25 | 4.6% | 7.5% | ||
| Q2 25 | 3.6% | 2.1% | ||
| Q1 25 | 9.7% | 1.7% | ||
| Q4 24 | 0.2% | 6.5% | ||
| Q3 24 | 11.8% | 3.2% | ||
| Q2 24 | 7.9% | 4.4% | ||
| Q1 24 | 3.1% | 5.8% |
现金转化率NGLRBLX
| Q4 25 | 3.86× | — | ||
| Q3 25 | 1.38× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | 11.29× | — | ||
| Q4 24 | 11.39× | — | ||
| Q3 24 | 2.74× | — | ||
| Q2 24 | -1.87× | — | ||
| 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% |
RBLX
暂无分部数据
