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NGL Energy Partners LP（NGL）与Reddit, Inc.（RDDT）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Reddit, Inc.的1.3倍（$909.8M vs $725.6M），Reddit, Inc.净利率更高（34.7% vs 5.2%，领先29.5%），Reddit, Inc.同比增速更快（69.7% vs -41.3%），Reddit, Inc.自由现金流更多（$263.6M vs $45.7M），过去两年Reddit, Inc.的营收复合增速更高（72.8% 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。
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
NGL vs RDDT — 直观对比
营收规模更大
NGL
是对方的1.3倍
$725.6M
营收增速更快
RDDT
高出110.9%
-41.3%
净利率更高
RDDT
高出29.5%
5.2%
自由现金流更多
RDDT
多$217.9M
$45.7M
两年增速更快
RDDT
近两年复合增速
-6.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $909.8M | $725.6M |
| 净利润 | $47.2M | $251.6M |
| 毛利率 | 29.0% | 91.9% |
| 营业利润率 | 12.1% | 31.9% |
| 净利率 | 5.2% | 34.7% |
| 营收同比 | -41.3% | 69.7% |
| 净利润同比 | 249.3% | 254.2% |
| 每股收益（稀释后） | — | $1.24 |
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NGLRDDT
| Q4 25 | $909.8M | $725.6M | ||
| Q3 25 | $674.7M | $584.9M | ||
| Q2 25 | $622.2M | $499.6M | ||
| Q1 25 | $971.1M | $392.4M | ||
| Q4 24 | $982.4M | $427.7M | ||
| Q3 24 | $756.5M | $348.4M | ||
| Q2 24 | $759.2M | $281.2M | ||
| Q1 24 | $1.0B | $243.0M |
净利润NGLRDDT
| Q4 25 | $47.2M | $251.6M | ||
| Q3 25 | $29.3M | $162.7M | ||
| Q2 25 | $68.9M | $89.3M | ||
| Q1 25 | $13.7M | $26.2M | ||
| Q4 24 | $13.5M | $71.0M | ||
| Q3 24 | $2.5M | $29.9M | ||
| Q2 24 | $9.7M | $-10.1M | ||
| Q1 24 | $-236.8M | $-575.1M |
毛利率NGLRDDT
| Q4 25 | 29.0% | 91.9% | ||
| Q3 25 | 37.6% | 91.0% | ||
| Q2 25 | 38.5% | 90.8% | ||
| Q1 25 | 26.9% | 90.5% | ||
| Q4 24 | 25.1% | 92.6% | ||
| Q3 24 | 30.9% | 90.1% | ||
| Q2 24 | 29.0% | 89.5% | ||
| Q1 24 | 21.8% | 88.6% |
营业利润率NGLRDDT
| Q4 25 | 12.1% | 31.9% | ||
| Q3 25 | 14.0% | 23.7% | ||
| Q2 25 | 15.7% | 13.6% | ||
| Q1 25 | 8.4% | 1.0% | ||
| Q4 24 | 8.6% | 12.4% | ||
| Q3 24 | 10.8% | 2.0% | ||
| Q2 24 | 10.8% | -11.0% | ||
| Q1 24 | -9.4% | -242.5% |
净利率NGLRDDT
| Q4 25 | 5.2% | 34.7% | ||
| Q3 25 | 4.3% | 27.8% | ||
| Q2 25 | 11.1% | 17.9% | ||
| Q1 25 | 1.4% | 6.7% | ||
| Q4 24 | 1.4% | 16.6% | ||
| Q3 24 | 0.3% | 8.6% | ||
| Q2 24 | 1.3% | -3.6% | ||
| Q1 24 | -22.8% | -236.7% |
每股收益（稀释后）NGLRDDT
| Q4 25 | — | $1.24 | ||
| Q3 25 | — | $0.80 | ||
| Q2 25 | — | $0.45 | ||
| Q1 25 | — | $0.13 | ||
| Q4 24 | — | $4.76 | ||
| Q3 24 | — | $0.16 | ||
| Q2 24 | — | $-0.06 | ||
| Q1 24 | — | $-8.19 |
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 | $953.6M |
| 总债务越低越好 | $2.9B | — |
| 股东权益账面价值 | — | $2.9B |
| 总资产 | $4.4B | $3.2B |
| 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NGLRDDT
| Q4 25 | $6.5M | $953.6M | ||
| Q3 25 | $8.7M | $911.7M | ||
| Q2 25 | $5.4M | $734.1M | ||
| Q1 25 | $13.5M | $635.7M | ||
| Q4 24 | $5.7M | $562.1M | ||
| Q3 24 | $4.5M | $515.9M | ||
| Q2 24 | $5.3M | $468.0M | ||
| Q1 24 | $38.9M | $968.5M |
总债务NGLRDDT
| Q4 25 | $2.9B | — | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $2.9B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $2.9B | — |
股东权益NGLRDDT
| Q4 25 | — | $2.9B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | — | $1.8B |
总资产NGLRDDT
| Q4 25 | $4.4B | $3.2B | ||
| Q3 25 | $4.3B | $2.9B | ||
| Q2 25 | $4.2B | $2.6B | ||
| Q1 25 | $4.6B | $2.4B | ||
| Q4 24 | $4.8B | $2.3B | ||
| Q3 24 | $4.9B | $2.2B | ||
| Q2 24 | $4.8B | $2.1B | ||
| Q1 24 | $5.0B | $2.0B |
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 | $266.8M |
| 自由现金流经营现金流 - 资本支出 | $45.7M | $263.6M |
| 自由现金流率自由现金流/营收 | 5.0% | 36.3% |
| 资本支出强度资本支出/营收 | 15.0% | 0.4% |
| 现金转化率经营现金流/净利润 | 3.86× | 1.06× |
| 过去12个月自由现金流最近4个季度 | $126.7M | $684.2M |
8季度趋势，按日历期对齐
经营现金流NGLRDDT
| Q4 25 | $182.3M | $266.8M | ||
| Q3 25 | $40.5M | $185.2M | ||
| Q2 25 | $33.2M | $111.3M | ||
| Q1 25 | $155.0M | $127.6M | ||
| Q4 24 | $153.8M | $90.0M | ||
| Q3 24 | $6.7M | $71.6M | ||
| Q2 24 | $-18.1M | $28.4M | ||
| Q1 24 | $152.2M | $32.1M |
自由现金流NGLRDDT
| Q4 25 | $45.7M | $263.6M | ||
| Q3 25 | $9.5M | $183.1M | ||
| Q2 25 | $11.1M | $110.8M | ||
| Q1 25 | $60.4M | $126.6M | ||
| Q4 24 | $152.1M | $89.2M | ||
| Q3 24 | $-82.9M | $70.3M | ||
| Q2 24 | $-78.0M | $27.2M | ||
| Q1 24 | $119.8M | $29.2M |
自由现金流率NGLRDDT
| Q4 25 | 5.0% | 36.3% | ||
| Q3 25 | 1.4% | 31.3% | ||
| Q2 25 | 1.8% | 22.2% | ||
| Q1 25 | 6.2% | 32.3% | ||
| Q4 24 | 15.5% | 20.8% | ||
| Q3 24 | -11.0% | 20.2% | ||
| Q2 24 | -10.3% | 9.7% | ||
| Q1 24 | 11.5% | 12.0% |
资本支出强度NGLRDDT
| Q4 25 | 15.0% | 0.4% | ||
| Q3 25 | 4.6% | 0.4% | ||
| Q2 25 | 3.6% | 0.1% | ||
| Q1 25 | 9.7% | 0.2% | ||
| Q4 24 | 0.2% | 0.2% | ||
| Q3 24 | 11.8% | 0.4% | ||
| Q2 24 | 7.9% | 0.4% | ||
| Q1 24 | 3.1% | 1.2% |
现金转化率NGLRDDT
| Q4 25 | 3.86× | 1.06× | ||
| Q3 25 | 1.38× | 1.14× | ||
| Q2 25 | 0.48× | 1.25× | ||
| Q1 25 | 11.29× | 4.88× | ||
| Q4 24 | 11.39× | 1.27× | ||
| Q3 24 | 2.74× | 2.40× | ||
| 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% |
RDDT
| Advertising | $689.7M | 95% |
| Other Revenue | $35.9M | 5% |
