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NGL Energy Partners LP（NGL）与RUSH ENTERPRISES INC \TX\（RUSHA）财务数据对比。点击上方公司名可切换其他公司
RUSH ENTERPRISES INC \TX\的季度营收约是NGL Energy Partners LP的1.9倍（$1.7B vs $909.8M），NGL Energy Partners LP净利率更高（5.2% vs 3.7%，领先1.5%），RUSH ENTERPRISES INC \TX\同比增速更快（-9.0% vs -41.3%），RUSH ENTERPRISES INC \TX\自由现金流更多（$411.6M vs $45.7M），过去两年NGL Energy Partners LP的营收复合增速更高（-6.4% vs -6.8%）
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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
NGL vs RUSHA — 直观对比
营收规模更大
RUSHA
是对方的1.9倍
$909.8M
营收增速更快
RUSHA
高出32.3%
-41.3%
净利率更高
NGL
高出1.5%
3.7%
自由现金流更多
RUSHA
多$365.8M
$45.7M
两年增速更快
NGL
近两年复合增速
-6.8%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $909.8M | $1.7B |
| 净利润 | $47.2M | $61.7M |
| 毛利率 | 29.0% | 20.4% |
| 营业利润率 | 12.1% | 4.9% |
| 净利率 | 5.2% | 3.7% |
| 营收同比 | -41.3% | -9.0% |
| 净利润同比 | 249.3% | 1.8% |
| 每股收益（稀释后） | — | $0.77 |
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NGLRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $909.8M | $1.7B | ||
| Q3 25 | $674.7M | $1.8B | ||
| Q2 25 | $622.2M | $1.8B | ||
| Q1 25 | $971.1M | $1.8B | ||
| Q4 24 | $982.4M | $1.9B | ||
| Q3 24 | $756.5M | $1.8B | ||
| Q2 24 | $759.2M | $1.9B |
净利润NGLRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $47.2M | $64.3M | ||
| Q3 25 | $29.3M | $66.7M | ||
| Q2 25 | $68.9M | $72.4M | ||
| Q1 25 | $13.7M | $60.3M | ||
| Q4 24 | $13.5M | $74.8M | ||
| Q3 24 | $2.5M | $79.1M | ||
| Q2 24 | $9.7M | $78.7M |
毛利率NGLRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | 29.0% | 20.8% | ||
| Q3 25 | 37.6% | 21.0% | ||
| Q2 25 | 38.5% | 20.7% | ||
| Q1 25 | 26.9% | 20.3% | ||
| Q4 24 | 25.1% | 19.3% | ||
| Q3 24 | 30.9% | 21.0% | ||
| Q2 24 | 29.0% | 20.2% |
营业利润率NGLRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 12.1% | 5.5% | ||
| Q3 25 | 14.0% | 5.6% | ||
| Q2 25 | 15.7% | 6.0% | ||
| Q1 25 | 8.4% | 5.2% | ||
| Q4 24 | 8.6% | 5.8% | ||
| Q3 24 | 10.8% | 6.7% | ||
| Q2 24 | 10.8% | 6.4% |
净利率NGLRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 5.2% | 3.8% | ||
| Q3 25 | 4.3% | 3.7% | ||
| Q2 25 | 11.1% | 3.9% | ||
| Q1 25 | 1.4% | 3.4% | ||
| Q4 24 | 1.4% | 3.9% | ||
| Q3 24 | 0.3% | 4.4% | ||
| Q2 24 | 1.3% | 4.1% |
每股收益（稀释后）NGLRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | — | $0.81 | ||
| Q3 25 | — | $0.83 | ||
| Q2 25 | — | $0.90 | ||
| Q1 25 | — | $0.73 | ||
| Q4 24 | — | $-95.13 | ||
| Q3 24 | — | $0.97 | ||
| Q2 24 | — | $97.00 |
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 | — |
| 总债务越低越好 | $2.9B | $277.8M |
| 股东权益账面价值 | — | $2.3B |
| 总资产 | $4.4B | $4.5B |
| 负债/权益比越低杠杆越低 | — | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资NGLRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $6.5M | $212.6M | ||
| Q3 25 | $8.7M | $242.0M | ||
| Q2 25 | $5.4M | $211.1M | ||
| Q1 25 | $13.5M | $228.7M | ||
| Q4 24 | $5.7M | $228.1M | ||
| Q3 24 | $4.5M | $185.1M | ||
| Q2 24 | $5.3M | $167.3M |
总债务NGLRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $2.9B | $274.8M | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $2.9B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.1B | $408.4M | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.0B | — |
股东权益NGLRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.0B |
总资产NGLRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $4.4B | $4.4B | ||
| Q3 25 | $4.3B | $4.6B | ||
| Q2 25 | $4.2B | $4.7B | ||
| Q1 25 | $4.6B | $4.7B | ||
| Q4 24 | $4.8B | $4.6B | ||
| Q3 24 | $4.9B | $4.6B | ||
| Q2 24 | $4.8B | $4.5B |
负债/权益比NGLRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $45.7M | $411.6M |
| 自由现金流率自由现金流/营收 | 5.0% | 24.4% |
| 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× | — |
| 过去12个月自由现金流最近4个季度 | $126.7M | $828.4M |
8季度趋势，按日历期对齐
经营现金流NGLRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $182.3M | $112.9M | ||
| Q3 25 | $40.5M | $367.8M | ||
| Q2 25 | $33.2M | $227.6M | ||
| Q1 25 | $155.0M | $153.5M | ||
| Q4 24 | $153.8M | $392.3M | ||
| Q3 24 | $6.7M | $111.7M | ||
| Q2 24 | $-18.1M | $270.6M |
自由现金流NGLRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $45.7M | $31.9M | ||
| Q3 25 | $9.5M | $271.2M | ||
| Q2 25 | $11.1M | $113.8M | ||
| Q1 25 | $60.4M | $45.1M | ||
| Q4 24 | $152.1M | $263.5M | ||
| Q3 24 | $-82.9M | $-20.0M | ||
| Q2 24 | $-78.0M | $177.2M |
自由现金流率NGLRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | 5.0% | 1.9% | ||
| Q3 25 | 1.4% | 15.2% | ||
| Q2 25 | 1.8% | 6.2% | ||
| Q1 25 | 6.2% | 2.6% | ||
| Q4 24 | 15.5% | 13.7% | ||
| Q3 24 | -11.0% | -1.1% | ||
| Q2 24 | -10.3% | 9.1% |
资本支出强度NGLRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 15.0% | 4.8% | ||
| Q3 25 | 4.6% | 5.4% | ||
| Q2 25 | 3.6% | 6.2% | ||
| Q1 25 | 9.7% | 6.2% | ||
| Q4 24 | 0.2% | 6.7% | ||
| Q3 24 | 11.8% | 7.3% | ||
| Q2 24 | 7.9% | 4.8% |
现金转化率NGLRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 3.86× | 1.75× | ||
| Q3 25 | 1.38× | 5.51× | ||
| Q2 25 | 0.48× | 3.14× | ||
| Q1 25 | 11.29× | 2.55× | ||
| Q4 24 | 11.39× | 5.25× | ||
| Q3 24 | 2.74× | 1.41× | ||
| Q2 24 | -1.87× | 3.44× |
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% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
