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NGL Energy Partners LP（NGL）与BOSTON BEER CO INC（SAM）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BOSTON BEER CO INC的2.0倍（$909.8M vs $461.6M），BOSTON BEER CO INC同比增速更快（-4.1% vs -41.3%），过去两年NGL Energy Partners LP的营收复合增速更高（-6.4% vs -10.7%）
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。
波士顿啤酒公司是美国知名酿酒企业，1984年由吉姆·科赫与朗达·卡尔曼联合创立。旗下首款产品以美国开国元勋、独立运动先驱塞缪尔·亚当斯命名，后续陆续推出多个自有品牌，2019年正式完成与角鲨头酿酒厂的合并，是北美精酿啤酒行业的核心参与者之一。
NGL vs SAM — 直观对比
营收规模更大
NGL
是对方的2.0倍
$461.6M
营收增速更快
SAM
高出37.2%
-41.3%
两年增速更快
NGL
近两年复合增速
-10.7%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $909.8M | $461.6M |
| 净利润 | $47.2M | — |
| 毛利率 | 29.0% | 46.4% |
| 营业利润率 | 12.1% | 12.4% |
| 净利率 | 5.2% | — |
| 营收同比 | -41.3% | -4.1% |
| 净利润同比 | 249.3% | — |
| 每股收益（稀释后） | — | $2.16 |
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NGLSAM
| Q1 26 | — | $461.6M | ||
| Q4 25 | $909.8M | $385.7M | ||
| Q3 25 | $674.7M | $537.5M | ||
| Q2 25 | $622.2M | $587.9M | ||
| Q1 25 | $971.1M | $453.9M | ||
| Q4 24 | $982.4M | $402.3M | ||
| Q3 24 | $756.5M | $605.5M | ||
| Q2 24 | $759.2M | $579.1M |
净利润NGLSAM
| Q1 26 | — | — | ||
| Q4 25 | $47.2M | $-22.5M | ||
| Q3 25 | $29.3M | $46.2M | ||
| Q2 25 | $68.9M | $60.4M | ||
| Q1 25 | $13.7M | $24.4M | ||
| Q4 24 | $13.5M | $-38.8M | ||
| Q3 24 | $2.5M | $33.5M | ||
| Q2 24 | $9.7M | $52.3M |
毛利率NGLSAM
| Q1 26 | — | 46.4% | ||
| Q4 25 | 29.0% | 43.5% | ||
| Q3 25 | 37.6% | 50.8% | ||
| Q2 25 | 38.5% | 49.8% | ||
| Q1 25 | 26.9% | 48.3% | ||
| Q4 24 | 25.1% | 39.9% | ||
| Q3 24 | 30.9% | 46.3% | ||
| Q2 24 | 29.0% | 46.0% |
营业利润率NGLSAM
| Q1 26 | — | 12.4% | ||
| Q4 25 | 12.1% | -8.6% | ||
| Q3 25 | 14.0% | 11.5% | ||
| Q2 25 | 15.7% | 14.0% | ||
| Q1 25 | 8.4% | 7.4% | ||
| Q4 24 | 8.6% | -13.9% | ||
| Q3 24 | 10.8% | 7.6% | ||
| Q2 24 | 10.8% | 12.2% |
净利率NGLSAM
| Q1 26 | — | — | ||
| Q4 25 | 5.2% | -5.8% | ||
| Q3 25 | 4.3% | 8.6% | ||
| Q2 25 | 11.1% | 10.3% | ||
| Q1 25 | 1.4% | 5.4% | ||
| Q4 24 | 1.4% | -9.6% | ||
| Q3 24 | 0.3% | 5.5% | ||
| Q2 24 | 1.3% | 9.0% |
每股收益（稀释后）NGLSAM
| Q1 26 | — | $2.16 | ||
| Q4 25 | — | $-1.97 | ||
| Q3 25 | — | $4.25 | ||
| Q2 25 | — | $5.45 | ||
| Q1 25 | — | $2.16 | ||
| Q4 24 | — | $-3.23 | ||
| Q3 24 | — | $2.86 | ||
| Q2 24 | — | $4.39 |
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 | $164.1M |
| 总债务越低越好 | $2.9B | — |
| 股东权益账面价值 | — | $682.6M |
| 总资产 | $4.4B | $1.2B |
| 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NGLSAM
| Q1 26 | — | $164.1M | ||
| Q4 25 | $6.5M | $223.4M | ||
| Q3 25 | $8.7M | $250.5M | ||
| Q2 25 | $5.4M | $212.4M | ||
| Q1 25 | $13.5M | $152.5M | ||
| Q4 24 | $5.7M | $211.8M | ||
| Q3 24 | $4.5M | $255.6M | ||
| Q2 24 | $5.3M | $219.3M |
总债务NGLSAM
| 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NGLSAM
| Q1 26 | — | $682.6M | ||
| Q4 25 | — | $846.3M | ||
| Q3 25 | — | $911.0M | ||
| Q2 25 | — | $912.3M | ||
| Q1 25 | — | $897.0M | ||
| Q4 24 | — | $916.2M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.0B |
总资产NGLSAM
| Q1 26 | — | $1.2B | ||
| Q4 25 | $4.4B | $1.2B | ||
| Q3 25 | $4.3B | $1.2B | ||
| Q2 25 | $4.2B | $1.3B | ||
| Q1 25 | $4.6B | $1.2B | ||
| Q4 24 | $4.8B | $1.3B | ||
| Q3 24 | $4.9B | $1.4B | ||
| Q2 24 | $4.8B | $1.4B |
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 | — |
| 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× | — |
| 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NGLSAM
| Q1 26 | — | — | ||
| Q4 25 | $182.3M | $39.9M | ||
| Q3 25 | $40.5M | $101.8M | ||
| Q2 25 | $33.2M | $126.5M | ||
| Q1 25 | $155.0M | $1.9M | ||
| Q4 24 | $153.8M | $41.9M | ||
| Q3 24 | $6.7M | $115.9M | ||
| Q2 24 | $-18.1M | $96.0M |
自由现金流NGLSAM
| Q1 26 | — | — | ||
| Q4 25 | $45.7M | $22.1M | ||
| Q3 25 | $9.5M | $89.2M | ||
| Q2 25 | $11.1M | $112.2M | ||
| Q1 25 | $60.4M | $-8.0M | ||
| Q4 24 | $152.1M | $18.4M | ||
| Q3 24 | $-82.9M | $99.2M | ||
| Q2 24 | $-78.0M | $75.6M |
自由现金流率NGLSAM
| Q1 26 | — | — | ||
| Q4 25 | 5.0% | 5.7% | ||
| Q3 25 | 1.4% | 16.6% | ||
| Q2 25 | 1.8% | 19.1% | ||
| Q1 25 | 6.2% | -1.8% | ||
| Q4 24 | 15.5% | 4.6% | ||
| Q3 24 | -11.0% | 16.4% | ||
| Q2 24 | -10.3% | 13.1% |
资本支出强度NGLSAM
| Q1 26 | — | — | ||
| Q4 25 | 15.0% | 4.6% | ||
| Q3 25 | 4.6% | 2.3% | ||
| Q2 25 | 3.6% | 2.4% | ||
| Q1 25 | 9.7% | 2.2% | ||
| Q4 24 | 0.2% | 5.8% | ||
| Q3 24 | 11.8% | 2.8% | ||
| Q2 24 | 7.9% | 3.5% |
现金转化率NGLSAM
| Q1 26 | — | — | ||
| Q4 25 | 3.86× | — | ||
| Q3 25 | 1.38× | 2.21× | ||
| Q2 25 | 0.48× | 2.09× | ||
| Q1 25 | 11.29× | 0.08× | ||
| Q4 24 | 11.39× | — | ||
| Q3 24 | 2.74× | 3.46× | ||
| Q2 24 | -1.87× | 1.83× |
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% |
SAM
暂无分部数据
