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Ingevity Corp（NGVT）与SUBURBAN PROPANE PARTNERS LP（SPH）财务数据对比。点击上方公司名可切换其他公司
SUBURBAN PROPANE PARTNERS LP的季度营收约是Ingevity Corp的2.0倍（$370.4M vs $185.4M），SUBURBAN PROPANE PARTNERS LP净利率更高（12.4% vs -45.6%，领先58.0%），Ingevity Corp同比增速更快（36.7% vs -0.8%），Ingevity Corp自由现金流更多（$73.5M vs $-67.5M），过去两年SUBURBAN PROPANE PARTNERS LP的营收复合增速更高（-13.8% vs -26.2%）
Ingevity Corp是一家全球特种化学品与先进材料生产商，主营高性能碳材料、路面养护解决方案及特种化工产品，服务汽车排放控制、工业净化、道路基建、农业投入品等核心市场，业务覆盖北美、欧洲及亚太地区。
Suburban Propane Partners LP是美国领先的丙烷、天然气、取暖油及相关能源产品分销商，服务覆盖住宅、商业、工业、农业等各类客户，同时提供暖通空调系统的安装、维护与维修服务，业务范围遍布全美。
NGVT vs SPH — 直观对比
营收规模更大
SPH
是对方的2.0倍
$185.4M
营收增速更快
NGVT
高出37.5%
-0.8%
净利率更高
SPH
高出58.0%
-45.6%
自由现金流更多
NGVT
多$141.0M
$-67.5M
两年增速更快
SPH
近两年复合增速
-26.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $185.4M | $370.4M |
| 净利润 | $-84.6M | $45.8M |
| 毛利率 | 41.2% | 64.7% |
| 营业利润率 | -47.7% | 18.3% |
| 净利率 | -45.6% | 12.4% |
| 营收同比 | 36.7% | -0.8% |
| 净利润同比 | -609.6% | 135.7% |
| 每股收益（稀释后） | $-2.33 | $0.69 |
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NGVTSPH
| Q4 25 | $185.4M | $370.4M | ||
| Q3 25 | $333.1M | $211.4M | ||
| Q2 25 | $365.1M | $260.1M | ||
| Q1 25 | $284.0M | $587.7M | ||
| Q4 24 | $135.6M | $373.3M | ||
| Q3 24 | $333.8M | $208.6M | ||
| Q2 24 | $390.6M | $254.6M | ||
| Q1 24 | $340.1M | $498.1M |
净利润NGVTSPH
| Q4 25 | $-84.6M | $45.8M | ||
| Q3 25 | $43.5M | $-35.1M | ||
| Q2 25 | $-146.5M | $-14.8M | ||
| Q1 25 | $20.5M | $137.1M | ||
| Q4 24 | $16.6M | $19.4M | ||
| Q3 24 | $-107.2M | $-44.6M | ||
| Q2 24 | $-283.7M | $-17.2M | ||
| Q1 24 | $-56.0M | $111.5M |
毛利率NGVTSPH
| Q4 25 | 41.2% | 64.7% | ||
| Q3 25 | 40.2% | 64.7% | ||
| Q2 25 | 37.8% | 61.7% | ||
| Q1 25 | 39.9% | 58.8% | ||
| Q4 24 | 81.3% | 60.6% | ||
| Q3 24 | 39.4% | 59.4% | ||
| Q2 24 | 31.5% | 62.9% | ||
| Q1 24 | 29.3% | 61.8% |
营业利润率NGVTSPH
| Q4 25 | -47.7% | 18.3% | ||
| Q3 25 | 18.7% | -7.9% | ||
| Q2 25 | -39.1% | 2.1% | ||
| Q1 25 | 9.4% | 27.0% | ||
| Q4 24 | — | 15.8% | ||
| Q3 24 | 33.0% | -10.8% | ||
| Q2 24 | 25.9% | 3.2% | ||
| Q1 24 | 22.6% | 27.5% |
净利率NGVTSPH
| Q4 25 | -45.6% | 12.4% | ||
| Q3 25 | 13.1% | -16.6% | ||
| Q2 25 | -40.1% | -5.7% | ||
| Q1 25 | 7.2% | 23.3% | ||
| Q4 24 | 12.2% | 5.2% | ||
| Q3 24 | -32.1% | -21.4% | ||
| Q2 24 | -72.6% | -6.8% | ||
| Q1 24 | -16.5% | 22.4% |
每股收益（稀释后）NGVTSPH
| Q4 25 | $-2.33 | $0.69 | ||
| Q3 25 | $1.18 | $-0.55 | ||
| Q2 25 | $-4.02 | $-0.23 | ||
| Q1 25 | $0.56 | $2.10 | ||
| Q4 24 | $0.44 | $0.30 | ||
| Q3 24 | $-2.94 | $-0.69 | ||
| Q2 24 | $-7.81 | $-0.27 | ||
| Q1 24 | $-1.54 | $1.72 |
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 | $78.1M | $1.3M |
| 总债务越低越好 | $1.2B | $1.3B |
| 股东权益账面价值 | $29.7M | — |
| 总资产 | $1.7B | $2.4B |
| 负债/权益比越低杠杆越低 | 39.10× | — |
8季度趋势，按日历期对齐
现金及短期投资NGVTSPH
| Q4 25 | $78.1M | $1.3M | ||
| Q3 25 | $83.4M | $405.0K | ||
| Q2 25 | $76.9M | $1.3M | ||
| Q1 25 | $71.5M | $3.9M | ||
| Q4 24 | $68.0M | $4.4M | ||
| Q3 24 | $135.5M | $3.2M | ||
| Q2 24 | $107.4M | $4.9M | ||
| Q1 24 | $88.5M | $4.4M |
总债务NGVTSPH
| Q4 25 | $1.2B | $1.3B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.4B | $1.2B |
股东权益NGVTSPH
| Q4 25 | $29.7M | — | ||
| Q3 25 | $138.1M | — | ||
| Q2 25 | $120.7M | — | ||
| Q1 25 | $234.6M | — | ||
| Q4 24 | $195.2M | — | ||
| Q3 24 | $214.5M | — | ||
| Q2 24 | $284.8M | — | ||
| Q1 24 | $568.2M | — |
总资产NGVTSPH
| Q4 25 | $1.7B | $2.4B | ||
| Q3 25 | $1.8B | $2.3B | ||
| Q2 25 | $1.9B | $2.3B | ||
| Q1 25 | $2.1B | $2.4B | ||
| Q4 24 | $2.0B | $2.4B | ||
| Q3 24 | $2.2B | $2.3B | ||
| Q2 24 | $2.3B | $2.3B | ||
| Q1 24 | $2.6B | $2.3B |
负债/权益比NGVTSPH
| Q4 25 | 39.10× | — | ||
| Q3 25 | 8.39× | — | ||
| Q2 25 | 10.24× | — | ||
| Q1 25 | 5.68× | — | ||
| Q4 24 | 6.86× | — | ||
| Q3 24 | 6.52× | — | ||
| Q2 24 | 4.92× | — | ||
| Q1 24 | 2.48× | — |
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 | $97.1M | $-47.7M |
| 自由现金流经营现金流 - 资本支出 | $73.5M | $-67.5M |
| 自由现金流率自由现金流/营收 | 39.6% | -18.2% |
| 资本支出强度资本支出/营收 | 12.7% | 5.3% |
| 现金转化率经营现金流/净利润 | — | -1.04× |
| 过去12个月自由现金流最近4个季度 | $273.5M | $61.9M |
8季度趋势，按日历期对齐
经营现金流NGVTSPH
| Q4 25 | $97.1M | $-47.7M | ||
| Q3 25 | $129.7M | $41.8M | ||
| Q2 25 | $79.0M | $95.5M | ||
| Q1 25 | $25.4M | $40.1M | ||
| Q4 24 | $64.5M | $8.8M | ||
| Q3 24 | $46.5M | $36.8M | ||
| Q2 24 | $29.7M | $61.4M | ||
| Q1 24 | $-12.1M | $75.1M |
自由现金流NGVTSPH
| Q4 25 | $73.5M | $-67.5M | ||
| Q3 25 | $117.8M | $27.7M | ||
| Q2 25 | $66.8M | $80.9M | ||
| Q1 25 | $15.4M | $20.8M | ||
| Q4 24 | $39.6M | $-15.1M | ||
| Q3 24 | $28.5M | $17.7M | ||
| Q2 24 | $11.6M | $46.8M | ||
| Q1 24 | $-28.7M | $60.6M |
自由现金流率NGVTSPH
| Q4 25 | 39.6% | -18.2% | ||
| Q3 25 | 35.4% | 13.1% | ||
| Q2 25 | 18.3% | 31.1% | ||
| Q1 25 | 5.4% | 3.5% | ||
| Q4 24 | 29.2% | -4.0% | ||
| Q3 24 | 8.5% | 8.5% | ||
| Q2 24 | 3.0% | 18.4% | ||
| Q1 24 | -8.4% | 12.2% |
资本支出强度NGVTSPH
| Q4 25 | 12.7% | 5.3% | ||
| Q3 25 | 3.6% | 6.7% | ||
| Q2 25 | 3.3% | 5.6% | ||
| Q1 25 | 3.5% | 3.3% | ||
| Q4 24 | 18.4% | 6.4% | ||
| Q3 24 | 5.4% | 9.1% | ||
| Q2 24 | 4.6% | 5.8% | ||
| Q1 24 | 4.9% | 2.9% |
现金转化率NGVTSPH
| Q4 25 | — | -1.04× | ||
| Q3 25 | 2.98× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.24× | 0.29× | ||
| Q4 24 | 3.89× | 0.45× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.67× |
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
NGVT
| Performance Materials | $151.2M | 82% |
| Advanced Polymer Technologies Segment | $36.5M | 20% |
SPH
| Propane | $326.4M | 88% |
| Other Sales Revenue Net | $19.9M | 5% |
| Fuel Oil And Refined Fuels | $18.2M | 5% |
| Natural Gas And Electricity | $5.9M | 2% |
| Wholesale | $4.1M | 1% |
