vs
NGL Energy Partners LP（NGL）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
瑞思迈的季度营收约是NGL Energy Partners LP的1.6倍（$1.4B vs $909.8M），瑞思迈净利率更高（27.6% vs 5.2%，领先22.4%），瑞思迈同比增速更快（11.0% vs -41.3%），瑞思迈自由现金流更多（$311.2M vs $45.7M），过去两年瑞思迈的营收复合增速更高（9.0% 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。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
NGL vs RMD — 直观对比
营收规模更大
RMD
是对方的1.6倍
$909.8M
营收增速更快
RMD
高出52.2%
-41.3%
净利率更高
RMD
高出22.4%
5.2%
自由现金流更多
RMD
多$265.5M
$45.7M
两年增速更快
RMD
近两年复合增速
-6.4%
损益表 — Q3 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $909.8M | $1.4B |
| 净利润 | $47.2M | $392.6M |
| 毛利率 | 29.0% | 61.8% |
| 营业利润率 | 12.1% | 34.6% |
| 净利率 | 5.2% | 27.6% |
| 营收同比 | -41.3% | 11.0% |
| 净利润同比 | 249.3% | 13.9% |
| 每股收益（稀释后） | — | $2.68 |
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NGLRMD
| Q4 25 | $909.8M | $1.4B | ||
| Q3 25 | $674.7M | $1.3B | ||
| Q2 25 | $622.2M | $1.3B | ||
| Q1 25 | $971.1M | $1.3B | ||
| Q4 24 | $982.4M | $1.3B | ||
| Q3 24 | $756.5M | $1.2B | ||
| Q2 24 | $759.2M | $1.2B | ||
| Q1 24 | $1.0B | $1.2B |
净利润NGLRMD
| Q4 25 | $47.2M | $392.6M | ||
| Q3 25 | $29.3M | $348.5M | ||
| Q2 25 | $68.9M | $379.7M | ||
| Q1 25 | $13.7M | $365.0M | ||
| Q4 24 | $13.5M | $344.6M | ||
| Q3 24 | $2.5M | $311.4M | ||
| Q2 24 | $9.7M | $292.2M | ||
| Q1 24 | $-236.8M | $300.5M |
毛利率NGLRMD
| Q4 25 | 29.0% | 61.8% | ||
| Q3 25 | 37.6% | 61.5% | ||
| Q2 25 | 38.5% | 60.8% | ||
| Q1 25 | 26.9% | 59.3% | ||
| Q4 24 | 25.1% | 58.6% | ||
| Q3 24 | 30.9% | 58.6% | ||
| Q2 24 | 29.0% | 58.5% | ||
| Q1 24 | 21.8% | 57.9% |
营业利润率NGLRMD
| Q4 25 | 12.1% | 34.6% | ||
| Q3 25 | 14.0% | 33.4% | ||
| Q2 25 | 15.7% | 33.7% | ||
| Q1 25 | 8.4% | 33.0% | ||
| Q4 24 | 8.6% | 32.5% | ||
| Q3 24 | 10.8% | 31.6% | ||
| Q2 24 | 10.8% | 31.2% | ||
| Q1 24 | -9.4% | 31.3% |
净利率NGLRMD
| Q4 25 | 5.2% | 27.6% | ||
| Q3 25 | 4.3% | 26.1% | ||
| Q2 25 | 11.1% | 28.2% | ||
| Q1 25 | 1.4% | 28.3% | ||
| Q4 24 | 1.4% | 26.9% | ||
| Q3 24 | 0.3% | 25.4% | ||
| Q2 24 | 1.3% | 23.9% | ||
| Q1 24 | -22.8% | 25.1% |
每股收益（稀释后）NGLRMD
| Q4 25 | — | $2.68 | ||
| Q3 25 | — | $2.37 | ||
| Q2 25 | — | $2.58 | ||
| Q1 25 | — | $2.48 | ||
| Q4 24 | — | $2.34 | ||
| Q3 24 | — | $2.11 | ||
| Q2 24 | — | $1.97 | ||
| Q1 24 | — | $2.04 |
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 | $1.4B |
| 总债务越低越好 | $2.9B | $403.9M |
| 股东权益账面价值 | — | $6.3B |
| 总资产 | $4.4B | $8.5B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资NGLRMD
| Q4 25 | $6.5M | $1.4B | ||
| Q3 25 | $8.7M | $1.4B | ||
| Q2 25 | $5.4M | $1.2B | ||
| Q1 25 | $13.5M | $932.7M | ||
| Q4 24 | $5.7M | $521.9M | ||
| Q3 24 | $4.5M | $426.4M | ||
| Q2 24 | $5.3M | $238.4M | ||
| Q1 24 | $38.9M | $237.9M |
总债务NGLRMD
| Q4 25 | $2.9B | $403.9M | ||
| Q3 25 | $2.9B | $408.7M | ||
| Q2 25 | $2.9B | $658.4M | ||
| Q1 25 | $3.0B | $663.1M | ||
| Q4 24 | $3.1B | $662.9M | ||
| Q3 24 | $3.1B | $667.6M | ||
| Q2 24 | $3.0B | $697.3M | ||
| Q1 24 | $2.9B | $997.0M |
股东权益NGLRMD
| Q4 25 | — | $6.3B | ||
| Q3 25 | — | $6.1B | ||
| Q2 25 | — | $6.0B | ||
| Q1 25 | — | $5.5B | ||
| Q4 24 | — | $5.3B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $4.9B | ||
| Q1 24 | — | $4.6B |
总资产NGLRMD
| Q4 25 | $4.4B | $8.5B | ||
| Q3 25 | $4.3B | $8.3B | ||
| Q2 25 | $4.2B | $8.2B | ||
| Q1 25 | $4.6B | $7.6B | ||
| Q4 24 | $4.8B | $7.1B | ||
| Q3 24 | $4.9B | $7.2B | ||
| Q2 24 | $4.8B | $6.9B | ||
| Q1 24 | $5.0B | $6.8B |
负债/权益比NGLRMD
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.12× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.22× |
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 | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $45.7M | $311.2M |
| 自由现金流率自由现金流/营收 | 5.0% | 21.9% |
| 资本支出强度资本支出/营收 | 15.0% | 2.0% |
| 现金转化率经营现金流/净利润 | 3.86× | 0.87× |
| 过去12个月自由现金流最近4个季度 | $126.7M | $1.8B |
8季度趋势，按日历期对齐
经营现金流NGLRMD
| Q4 25 | $182.3M | $339.7M | ||
| Q3 25 | $40.5M | $457.3M | ||
| Q2 25 | $33.2M | $538.8M | ||
| Q1 25 | $155.0M | $578.7M | ||
| Q4 24 | $153.8M | $308.6M | ||
| Q3 24 | $6.7M | $325.5M | ||
| Q2 24 | $-18.1M | $440.1M | ||
| Q1 24 | $152.2M | $402.0M |
自由现金流NGLRMD
| Q4 25 | $45.7M | $311.2M | ||
| Q3 25 | $9.5M | $414.4M | ||
| Q2 25 | $11.1M | $508.2M | ||
| Q1 25 | $60.4M | $557.9M | ||
| Q4 24 | $152.1M | $288.0M | ||
| Q3 24 | $-82.9M | $307.7M | ||
| Q2 24 | $-78.0M | $415.2M | ||
| Q1 24 | $119.8M | $380.8M |
自由现金流率NGLRMD
| Q4 25 | 5.0% | 21.9% | ||
| Q3 25 | 1.4% | 31.0% | ||
| Q2 25 | 1.8% | 37.7% | ||
| Q1 25 | 6.2% | 43.2% | ||
| Q4 24 | 15.5% | 22.5% | ||
| Q3 24 | -11.0% | 25.1% | ||
| Q2 24 | -10.3% | 33.9% | ||
| Q1 24 | 11.5% | 31.8% |
资本支出强度NGLRMD
| Q4 25 | 15.0% | 2.0% | ||
| Q3 25 | 4.6% | 3.2% | ||
| Q2 25 | 3.6% | 2.3% | ||
| Q1 25 | 9.7% | 1.6% | ||
| Q4 24 | 0.2% | 1.6% | ||
| Q3 24 | 11.8% | 1.5% | ||
| Q2 24 | 7.9% | 2.0% | ||
| Q1 24 | 3.1% | 1.8% |
现金转化率NGLRMD
| Q4 25 | 3.86× | 0.87× | ||
| Q3 25 | 1.38× | 1.31× | ||
| Q2 25 | 0.48× | 1.42× | ||
| Q1 25 | 11.29× | 1.59× | ||
| Q4 24 | 11.39× | 0.90× | ||
| Q3 24 | 2.74× | 1.05× | ||
| Q2 24 | -1.87× | 1.51× | ||
| Q1 24 | — | 1.34× |
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% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
