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NGL Energy Partners LP（NGL）与ROKU, INC（ROKU）财务数据对比。点击上方公司名可切换其他公司
ROKU, INC的季度营收约是NGL Energy Partners LP的1.4倍（$1.2B vs $909.8M），NGL Energy Partners LP净利率更高（5.2% vs -2.2%，领先7.4%），ROKU, INC同比增速更快（-18.3% vs -41.3%），ROKU, INC自由现金流更多（$298.4M vs $45.7M），过去两年ROKU, INC的营收复合增速更高（13.6% 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。
Roku是美国流媒体技术企业，2002年由安东尼·伍德创立，主营数字媒体播放器、电视硬件生产，流媒体内容分发及平台广告运营。截至2024年覆盖用户达1.45亿，是美国流媒体视频分发领域的市场领导者，业务覆盖澳、加、法、德、英及拉美多国。
NGL vs ROKU — 直观对比
营收规模更大
ROKU
是对方的1.4倍
$909.8M
营收增速更快
ROKU
高出23.0%
-41.3%
净利率更高
NGL
高出7.4%
-2.2%
自由现金流更多
ROKU
多$252.7M
$45.7M
两年增速更快
ROKU
近两年复合增速
-6.4%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $909.8M | $1.2B |
| 净利润 | $47.2M | $-27.4M |
| 毛利率 | 29.0% | 35.6% |
| 营业利润率 | 12.1% | 59.7% |
| 净利率 | 5.2% | -2.2% |
| 营收同比 | -41.3% | -18.3% |
| 净利润同比 | 249.3% | -361.0% |
| 每股收益（稀释后） | — | $0.57 |
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NGLROKU
| Q1 26 | — | $1.2B | ||
| Q4 25 | $909.8M | $1.4B | ||
| Q3 25 | $674.7M | $1.2B | ||
| Q2 25 | $622.2M | $1.1B | ||
| Q1 25 | $971.1M | $1.0B | ||
| Q4 24 | $982.4M | $1.2B | ||
| Q3 24 | $756.5M | $1.1B | ||
| Q2 24 | $759.2M | $968.2M |
净利润NGLROKU
| Q1 26 | — | $-27.4M | ||
| Q4 25 | $47.2M | $80.5M | ||
| Q3 25 | $29.3M | $24.8M | ||
| Q2 25 | $68.9M | $10.5M | ||
| Q1 25 | $13.7M | $-27.4M | ||
| Q4 24 | $13.5M | $-35.5M | ||
| Q3 24 | $2.5M | $-9.0M | ||
| Q2 24 | $9.7M | $-34.0M |
毛利率NGLROKU
| Q1 26 | — | 35.6% | ||
| Q4 25 | 29.0% | 43.5% | ||
| Q3 25 | 37.6% | 43.4% | ||
| Q2 25 | 38.5% | 44.8% | ||
| Q1 25 | 26.9% | 43.6% | ||
| Q4 24 | 25.1% | 42.7% | ||
| Q3 24 | 30.9% | 45.2% | ||
| Q2 24 | 29.0% | 43.9% |
营业利润率NGLROKU
| Q1 26 | — | 59.7% | ||
| Q4 25 | 12.1% | 4.7% | ||
| Q3 25 | 14.0% | 0.8% | ||
| Q2 25 | 15.7% | -2.1% | ||
| Q1 25 | 8.4% | -5.7% | ||
| Q4 24 | 8.6% | -3.3% | ||
| Q3 24 | 10.8% | -3.4% | ||
| Q2 24 | 10.8% | -7.4% |
净利率NGLROKU
| Q1 26 | — | -2.2% | ||
| Q4 25 | 5.2% | 5.8% | ||
| Q3 25 | 4.3% | 2.0% | ||
| Q2 25 | 11.1% | 0.9% | ||
| Q1 25 | 1.4% | -2.7% | ||
| Q4 24 | 1.4% | -3.0% | ||
| Q3 24 | 0.3% | -0.9% | ||
| Q2 24 | 1.3% | -3.5% |
每股收益（稀释后）NGLROKU
| Q1 26 | — | $0.57 | ||
| Q4 25 | — | $0.55 | ||
| Q3 25 | — | $0.16 | ||
| Q2 25 | — | $0.07 | ||
| Q1 25 | — | $-0.19 | ||
| Q4 24 | — | $-0.24 | ||
| Q3 24 | — | $-0.06 | ||
| Q2 24 | — | $-0.24 |
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 | $2.4B |
| 总债务越低越好 | $2.9B | — |
| 股东权益账面价值 | — | $2.7B |
| 总资产 | $4.4B | $4.4B |
| 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NGLROKU
| Q1 26 | — | $2.4B | ||
| Q4 25 | $6.5M | $2.3B | ||
| Q3 25 | $8.7M | $2.3B | ||
| Q2 25 | $5.4M | $2.3B | ||
| Q1 25 | $13.5M | $2.3B | ||
| Q4 24 | $5.7M | $2.2B | ||
| Q3 24 | $4.5M | $2.1B | ||
| Q2 24 | $5.3M | $2.1B |
总债务NGLROKU
| Q1 26 | — | — | ||
| 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 | — |
股东权益NGLROKU
| Q1 26 | — | $2.7B | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.4B |
总资产NGLROKU
| Q1 26 | — | $4.4B | ||
| Q4 25 | $4.4B | $4.4B | ||
| Q3 25 | $4.3B | $4.4B | ||
| Q2 25 | $4.2B | $4.3B | ||
| Q1 25 | $4.6B | $4.2B | ||
| Q4 24 | $4.8B | $4.3B | ||
| Q3 24 | $4.9B | $4.3B | ||
| Q2 24 | $4.8B | $4.1B |
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 | $199.1M |
| 自由现金流经营现金流 - 资本支出 | $45.7M | $298.4M |
| 自由现金流率自由现金流/营收 | 5.0% | 23.9% |
| 资本支出强度资本支出/营收 | 15.0% | — |
| 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 | $640.0M |
8季度趋势，按日历期对齐
经营现金流NGLROKU
| Q1 26 | — | $199.1M | ||
| Q4 25 | $182.3M | $107.7M | ||
| Q3 25 | $40.5M | $127.6M | ||
| Q2 25 | $33.2M | $109.7M | ||
| Q1 25 | $155.0M | $138.7M | ||
| Q4 24 | $153.8M | $79.3M | ||
| Q3 24 | $6.7M | $68.7M | ||
| Q2 24 | $-18.1M | $23.4M |
自由现金流NGLROKU
| Q1 26 | — | $298.4M | ||
| Q4 25 | $45.7M | $106.6M | ||
| Q3 25 | $9.5M | $126.5M | ||
| Q2 25 | $11.1M | $108.6M | ||
| Q1 25 | $60.4M | $136.8M | ||
| Q4 24 | $152.1M | $76.8M | ||
| Q3 24 | $-82.9M | $67.6M | ||
| Q2 24 | $-78.0M | $22.5M |
自由现金流率NGLROKU
| Q1 26 | — | 23.9% | ||
| Q4 25 | 5.0% | 7.6% | ||
| Q3 25 | 1.4% | 10.4% | ||
| Q2 25 | 1.8% | 9.8% | ||
| Q1 25 | 6.2% | 13.4% | ||
| Q4 24 | 15.5% | 6.4% | ||
| Q3 24 | -11.0% | 6.4% | ||
| Q2 24 | -10.3% | 2.3% |
资本支出强度NGLROKU
| Q1 26 | — | — | ||
| Q4 25 | 15.0% | 0.1% | ||
| Q3 25 | 4.6% | 0.1% | ||
| Q2 25 | 3.6% | 0.1% | ||
| Q1 25 | 9.7% | 0.2% | ||
| Q4 24 | 0.2% | 0.2% | ||
| Q3 24 | 11.8% | 0.1% | ||
| Q2 24 | 7.9% | 0.1% |
现金转化率NGLROKU
| Q1 26 | — | — | ||
| Q4 25 | 3.86× | 1.34× | ||
| Q3 25 | 1.38× | 5.14× | ||
| Q2 25 | 0.48× | 10.45× | ||
| Q1 25 | 11.29× | — | ||
| Q4 24 | 11.39× | — | ||
| Q3 24 | 2.74× | — | ||
| Q2 24 | -1.87× | — |
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% |
ROKU
| Advertising | $612.7M | 49% |
| Subscriptions | $518.5M | 42% |
| Devices | $117.6M | 9% |
