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NGL Energy Partners LP（NGL）与Royalty Pharma plc（RPRX）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Royalty Pharma plc的1.5倍（$909.8M vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs 5.2%，领先29.3%），Royalty Pharma plc同比增速更快（4.8% vs -41.3%），过去两年Royalty Pharma plc的营收复合增速更高（4.6% 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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
NGL vs RPRX — 直观对比
营收规模更大
NGL
是对方的1.5倍
$622.0M
营收增速更快
RPRX
高出46.0%
-41.3%
净利率更高
RPRX
高出29.3%
5.2%
两年增速更快
RPRX
近两年复合增速
-6.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $909.8M | $622.0M |
| 净利润 | $47.2M | $214.2M |
| 毛利率 | 29.0% | — |
| 营业利润率 | 12.1% | 62.4% |
| 净利率 | 5.2% | 34.4% |
| 营收同比 | -41.3% | 4.8% |
| 净利润同比 | 249.3% | 2.9% |
| 每股收益（稀释后） | — | $0.49 |
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NGLRPRX
| Q4 25 | $909.8M | $622.0M | ||
| Q3 25 | $674.7M | $609.3M | ||
| Q2 25 | $622.2M | $578.7M | ||
| Q1 25 | $971.1M | $568.2M | ||
| Q4 24 | $982.4M | $593.6M | ||
| Q3 24 | $756.5M | $564.7M | ||
| Q2 24 | $759.2M | $537.3M | ||
| Q1 24 | $1.0B | $568.0M |
净利润NGLRPRX
| Q4 25 | $47.2M | $214.2M | ||
| Q3 25 | $29.3M | $288.2M | ||
| Q2 25 | $68.9M | $30.2M | ||
| Q1 25 | $13.7M | $238.3M | ||
| Q4 24 | $13.5M | $208.2M | ||
| Q3 24 | $2.5M | $544.0M | ||
| Q2 24 | $9.7M | $102.0M | ||
| Q1 24 | $-236.8M | $4.8M |
毛利率NGLRPRX
| Q4 25 | 29.0% | — | ||
| Q3 25 | 37.6% | — | ||
| Q2 25 | 38.5% | — | ||
| Q1 25 | 26.9% | — | ||
| Q4 24 | 25.1% | — | ||
| Q3 24 | 30.9% | — | ||
| Q2 24 | 29.0% | — | ||
| Q1 24 | 21.8% | — |
营业利润率NGLRPRX
| Q4 25 | 12.1% | 62.4% | ||
| Q3 25 | 14.0% | 70.1% | ||
| Q2 25 | 15.7% | 36.3% | ||
| Q1 25 | 8.4% | 94.0% | ||
| Q4 24 | 8.6% | 60.9% | ||
| Q3 24 | 10.8% | — | ||
| Q2 24 | 10.8% | 50.2% | ||
| Q1 24 | -9.4% | -13.0% |
净利率NGLRPRX
| Q4 25 | 5.2% | 34.4% | ||
| Q3 25 | 4.3% | 47.3% | ||
| Q2 25 | 11.1% | 5.2% | ||
| Q1 25 | 1.4% | 41.9% | ||
| Q4 24 | 1.4% | 35.1% | ||
| Q3 24 | 0.3% | 96.3% | ||
| Q2 24 | 1.3% | 19.0% | ||
| Q1 24 | -22.8% | 0.8% |
每股收益（稀释后）NGLRPRX
| Q4 25 | — | $0.49 | ||
| Q3 25 | — | $0.67 | ||
| Q2 25 | — | $0.07 | ||
| Q1 25 | — | $0.55 | ||
| Q4 24 | — | $0.46 | ||
| Q3 24 | — | $1.21 | ||
| Q2 24 | — | $0.23 | ||
| Q1 24 | — | $0.01 |
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 | $618.7M |
| 总债务越低越好 | $2.9B | $9.0B |
| 股东权益账面价值 | — | $9.7B |
| 总资产 | $4.4B | $19.6B |
| 负债/权益比越低杠杆越低 | — | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资NGLRPRX
| Q4 25 | $6.5M | $618.7M | ||
| Q3 25 | $8.7M | $938.9M | ||
| Q2 25 | $5.4M | $631.9M | ||
| Q1 25 | $13.5M | $1.1B | ||
| Q4 24 | $5.7M | $929.0M | ||
| Q3 24 | $4.5M | $950.1M | ||
| Q2 24 | $5.3M | $1.8B | ||
| Q1 24 | $38.9M | $843.0M |
总债务NGLRPRX
| Q4 25 | $2.9B | $9.0B | ||
| Q3 25 | $2.9B | $8.9B | ||
| Q2 25 | $2.9B | $8.0B | ||
| Q1 25 | $3.0B | $7.6B | ||
| Q4 24 | $3.1B | $7.6B | ||
| Q3 24 | $3.1B | $7.6B | ||
| Q2 24 | $3.0B | $7.6B | ||
| Q1 24 | $2.9B | $6.1B |
股东权益NGLRPRX
| Q4 25 | — | $9.7B | ||
| Q3 25 | — | $9.6B | ||
| Q2 25 | — | $9.5B | ||
| Q1 25 | — | $9.8B | ||
| Q4 24 | — | $10.3B | ||
| Q3 24 | — | $10.3B | ||
| Q2 24 | — | $9.8B | ||
| Q1 24 | — | $9.9B |
总资产NGLRPRX
| Q4 25 | $4.4B | $19.6B | ||
| Q3 25 | $4.3B | $19.3B | ||
| Q2 25 | $4.2B | $18.3B | ||
| Q1 25 | $4.6B | $17.6B | ||
| Q4 24 | $4.8B | $18.2B | ||
| Q3 24 | $4.9B | $18.0B | ||
| Q2 24 | $4.8B | $17.7B | ||
| Q1 24 | $5.0B | $16.1B |
负债/权益比NGLRPRX
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.62× |
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 | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $45.7M | — |
| 自由现金流率自由现金流/营收 | 5.0% | — |
| 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× | 3.86× |
| 过去12个月自由现金流最近4个季度 | $126.7M | — |
8季度趋势，按日历期对齐
经营现金流NGLRPRX
| Q4 25 | $182.3M | $827.1M | ||
| Q3 25 | $40.5M | $702.6M | ||
| Q2 25 | $33.2M | $364.0M | ||
| Q1 25 | $155.0M | $596.1M | ||
| Q4 24 | $153.8M | $742.5M | ||
| Q3 24 | $6.7M | $703.6M | ||
| Q2 24 | $-18.1M | $658.2M | ||
| Q1 24 | $152.2M | $664.6M |
自由现金流NGLRPRX
| Q4 25 | $45.7M | — | ||
| Q3 25 | $9.5M | — | ||
| Q2 25 | $11.1M | — | ||
| Q1 25 | $60.4M | — | ||
| Q4 24 | $152.1M | — | ||
| Q3 24 | $-82.9M | — | ||
| Q2 24 | $-78.0M | — | ||
| Q1 24 | $119.8M | — |
自由现金流率NGLRPRX
| Q4 25 | 5.0% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 6.2% | — | ||
| Q4 24 | 15.5% | — | ||
| Q3 24 | -11.0% | — | ||
| Q2 24 | -10.3% | — | ||
| Q1 24 | 11.5% | — |
资本支出强度NGLRPRX
| Q4 25 | 15.0% | — | ||
| Q3 25 | 4.6% | — | ||
| Q2 25 | 3.6% | — | ||
| Q1 25 | 9.7% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 11.8% | — | ||
| Q2 24 | 7.9% | — | ||
| Q1 24 | 3.1% | — |
现金转化率NGLRPRX
| Q4 25 | 3.86× | 3.86× | ||
| Q3 25 | 1.38× | 2.44× | ||
| Q2 25 | 0.48× | 12.06× | ||
| Q1 25 | 11.29× | 2.50× | ||
| Q4 24 | 11.39× | 3.57× | ||
| Q3 24 | 2.74× | 1.29× | ||
| Q2 24 | -1.87× | 6.45× | ||
| Q1 24 | — | 139.10× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
