vs
NGL Energy Partners LP（NGL）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
越洋钻探的季度营收约是NGL Energy Partners LP的1.1倍（$1.0B vs $909.8M），NGL Energy Partners LP净利率更高（5.2% vs 2.4%，领先2.8%），越洋钻探同比增速更快（9.6% vs -41.3%），越洋钻探自由现金流更多（$321.0M vs $45.7M），过去两年越洋钻探的营收复合增速更高（16.9% 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。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
NGL vs RIG — 直观对比
营收规模更大
RIG
是对方的1.1倍
$909.8M
营收增速更快
RIG
高出50.8%
-41.3%
净利率更高
NGL
高出2.8%
2.4%
自由现金流更多
RIG
多$275.3M
$45.7M
两年增速更快
RIG
近两年复合增速
-6.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $909.8M | $1.0B |
| 净利润 | $47.2M | $25.0M |
| 毛利率 | 29.0% | 42.0% |
| 营业利润率 | 12.1% | 23.0% |
| 净利率 | 5.2% | 2.4% |
| 营收同比 | -41.3% | 9.6% |
| 净利润同比 | 249.3% | 257.1% |
| 每股收益（稀释后） | — | $0.13 |
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NGLRIG
| Q4 25 | $909.8M | $1.0B | ||
| Q3 25 | $674.7M | $1.0B | ||
| Q2 25 | $622.2M | $988.0M | ||
| Q1 25 | $971.1M | $906.0M | ||
| Q4 24 | $982.4M | $952.0M | ||
| Q3 24 | $756.5M | $948.0M | ||
| Q2 24 | $759.2M | $861.0M | ||
| Q1 24 | $1.0B | $763.0M |
净利润NGLRIG
| Q4 25 | $47.2M | $25.0M | ||
| Q3 25 | $29.3M | $-1.9B | ||
| Q2 25 | $68.9M | $-938.0M | ||
| Q1 25 | $13.7M | $-79.0M | ||
| Q4 24 | $13.5M | $7.0M | ||
| Q3 24 | $2.5M | $-494.0M | ||
| Q2 24 | $9.7M | $-123.0M | ||
| Q1 24 | $-236.8M | $98.0M |
毛利率NGLRIG
| Q4 25 | 29.0% | 42.0% | ||
| Q3 25 | 37.6% | 43.2% | ||
| Q2 25 | 38.5% | 39.4% | ||
| Q1 25 | 26.9% | 31.8% | ||
| Q4 24 | 25.1% | 39.2% | ||
| Q3 24 | 30.9% | 40.6% | ||
| Q2 24 | 29.0% | 38.0% | ||
| Q1 24 | 21.8% | 31.5% |
营业利润率NGLRIG
| Q4 25 | 12.1% | 23.0% | ||
| Q3 25 | 14.0% | -163.1% | ||
| Q2 25 | 15.7% | -97.6% | ||
| Q1 25 | 8.4% | 7.1% | ||
| Q4 24 | 8.6% | 13.7% | ||
| Q3 24 | 10.8% | -51.2% | ||
| Q2 24 | 10.8% | -6.9% | ||
| Q1 24 | -9.4% | -0.4% |
净利率NGLRIG
| Q4 25 | 5.2% | 2.4% | ||
| Q3 25 | 4.3% | -187.1% | ||
| Q2 25 | 11.1% | -94.9% | ||
| Q1 25 | 1.4% | -8.7% | ||
| Q4 24 | 1.4% | 0.7% | ||
| Q3 24 | 0.3% | -52.1% | ||
| Q2 24 | 1.3% | -14.3% | ||
| Q1 24 | -22.8% | 12.8% |
每股收益（稀释后）NGLRIG
| Q4 25 | — | $0.13 | ||
| Q3 25 | — | $-2.00 | ||
| Q2 25 | — | $-1.06 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | — | $-0.14 | ||
| Q3 24 | — | $-0.58 | ||
| Q2 24 | — | $-0.15 | ||
| Q1 24 | — | $0.11 |
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 | $620.0M |
| 总债务越低越好 | $2.9B | $5.2B |
| 股东权益账面价值 | — | $8.1B |
| 总资产 | $4.4B | $15.6B |
| 负债/权益比越低杠杆越低 | — | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资NGLRIG
| Q4 25 | $6.5M | $620.0M | ||
| Q3 25 | $8.7M | $833.0M | ||
| Q2 25 | $5.4M | $377.0M | ||
| Q1 25 | $13.5M | $263.0M | ||
| Q4 24 | $5.7M | $560.0M | ||
| Q3 24 | $4.5M | $435.0M | ||
| Q2 24 | $5.3M | $475.0M | ||
| Q1 24 | $38.9M | $446.0M |
总债务NGLRIG
| Q4 25 | $2.9B | $5.2B | ||
| Q3 25 | $2.9B | $4.8B | ||
| Q2 25 | $2.9B | $5.9B | ||
| Q1 25 | $3.0B | $5.9B | ||
| Q4 24 | $3.1B | $6.2B | ||
| Q3 24 | $3.1B | $6.5B | ||
| Q2 24 | $3.0B | $6.8B | ||
| Q1 24 | $2.9B | $6.8B |
股东权益NGLRIG
| Q4 25 | — | $8.1B | ||
| Q3 25 | — | $8.1B | ||
| Q2 25 | — | $9.4B | ||
| Q1 25 | — | $10.2B | ||
| Q4 24 | — | $10.3B | ||
| Q3 24 | — | $10.2B | ||
| Q2 24 | — | $10.7B | ||
| Q1 24 | — | $10.5B |
总资产NGLRIG
| Q4 25 | $4.4B | $15.6B | ||
| Q3 25 | $4.3B | $16.2B | ||
| Q2 25 | $4.2B | $17.8B | ||
| Q1 25 | $4.6B | $19.0B | ||
| Q4 24 | $4.8B | $19.4B | ||
| Q3 24 | $4.9B | $19.5B | ||
| Q2 24 | $4.8B | $20.3B | ||
| Q1 24 | $5.0B | $19.9B |
负债/权益比NGLRIG
| Q4 25 | — | 0.64× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.63× | ||
| Q1 24 | — | 0.65× |
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 | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $45.7M | $321.0M |
| 自由现金流率自由现金流/营收 | 5.0% | 30.8% |
| 资本支出强度资本支出/营收 | 15.0% | 2.7% |
| 现金转化率经营现金流/净利润 | 3.86× | 13.96× |
| 过去12个月自由现金流最近4个季度 | $126.7M | $626.0M |
8季度趋势，按日历期对齐
经营现金流NGLRIG
| Q4 25 | $182.3M | $349.0M | ||
| Q3 25 | $40.5M | $246.0M | ||
| Q2 25 | $33.2M | $128.0M | ||
| Q1 25 | $155.0M | $26.0M | ||
| Q4 24 | $153.8M | $206.0M | ||
| Q3 24 | $6.7M | $194.0M | ||
| Q2 24 | $-18.1M | $133.0M | ||
| Q1 24 | $152.2M | $-86.0M |
自由现金流NGLRIG
| Q4 25 | $45.7M | $321.0M | ||
| Q3 25 | $9.5M | $235.0M | ||
| Q2 25 | $11.1M | $104.0M | ||
| Q1 25 | $60.4M | $-34.0M | ||
| Q4 24 | $152.1M | $177.0M | ||
| Q3 24 | $-82.9M | $136.0M | ||
| Q2 24 | $-78.0M | $49.0M | ||
| Q1 24 | $119.8M | $-169.0M |
自由现金流率NGLRIG
| Q4 25 | 5.0% | 30.8% | ||
| Q3 25 | 1.4% | 22.9% | ||
| Q2 25 | 1.8% | 10.5% | ||
| Q1 25 | 6.2% | -3.8% | ||
| Q4 24 | 15.5% | 18.6% | ||
| Q3 24 | -11.0% | 14.3% | ||
| Q2 24 | -10.3% | 5.7% | ||
| Q1 24 | 11.5% | -22.1% |
资本支出强度NGLRIG
| Q4 25 | 15.0% | 2.7% | ||
| Q3 25 | 4.6% | 1.1% | ||
| Q2 25 | 3.6% | 2.4% | ||
| Q1 25 | 9.7% | 6.6% | ||
| Q4 24 | 0.2% | 3.0% | ||
| Q3 24 | 11.8% | 6.1% | ||
| Q2 24 | 7.9% | 9.8% | ||
| Q1 24 | 3.1% | 10.9% |
现金转化率NGLRIG
| Q4 25 | 3.86× | 13.96× | ||
| Q3 25 | 1.38× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | 11.29× | — | ||
| Q4 24 | 11.39× | 29.43× | ||
| Q3 24 | 2.74× | — | ||
| Q2 24 | -1.87× | — | ||
| Q1 24 | — | -0.88× |
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% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
