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ACACIA RESEARCH CORP（ACTG）与MP Materials Corp.（MP）财务数据对比。点击上方公司名可切换其他公司
MP Materials Corp.的季度营收约是ACACIA RESEARCH CORP的1.1倍（$52.7M vs $50.1M），MP Materials Corp.净利率更高（17.9% vs 6.8%，领先11.1%），ACACIA RESEARCH CORP同比增速更快（2.6% vs -13.6%），过去两年ACACIA RESEARCH CORP的营收复合增速更高（43.6% vs 4.0%）
槐亚研究公司是一家总部位于纽约市的美国上市企业，在科技、能源以及工业制造领域开展业务收购与运营工作。该公司与控股股东斯塔博德价值投资合伙企业保持战略伙伴关系，这家企业在业内常被归类为专利流氓。
MP Materials Corp.是总部位于美国的稀土材料生产商，拥有并运营加利福尼亚州芒廷帕斯矿，这是西半球唯一在产的稀土开采及加工设施，所产核心材料可广泛应用于电动汽车、风力发电机、国防工业等多个关键领域。
ACTG vs MP — 直观对比
营收规模更大
MP
是对方的1.1倍
$50.1M
营收增速更快
ACTG
高出16.2%
-13.6%
净利率更高
MP
高出11.1%
6.8%
两年增速更快
ACTG
近两年复合增速
4.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $50.1M | $52.7M |
| 净利润 | $3.4M | $9.4M |
| 毛利率 | 12.8% | — |
| 营业利润率 | -26.1% | -7.0% |
| 净利率 | 6.8% | 17.9% |
| 营收同比 | 2.6% | -13.6% |
| 净利润同比 | 125.5% | 142.2% |
| 每股收益（稀释后） | $0.03 | $0.07 |
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ACTGMP
| Q4 25 | $50.1M | $52.7M | ||
| Q3 25 | $59.4M | $53.6M | ||
| Q2 25 | $51.2M | $57.4M | ||
| Q1 25 | $124.4M | $60.8M | ||
| Q4 24 | $48.8M | $61.0M | ||
| Q3 24 | $23.3M | $62.9M | ||
| Q2 24 | $25.8M | $31.3M | ||
| Q1 24 | $24.3M | $48.7M |
净利润ACTGMP
| Q4 25 | $3.4M | $9.4M | ||
| Q3 25 | $-2.7M | $-41.8M | ||
| Q2 25 | $-3.3M | $-30.9M | ||
| Q1 25 | $24.3M | $-22.6M | ||
| Q4 24 | $-13.4M | $-22.3M | ||
| Q3 24 | $-14.0M | $-25.5M | ||
| Q2 24 | $-8.4M | $-34.1M | ||
| Q1 24 | $-186.0K | $16.5M |
毛利率ACTGMP
| Q4 25 | 12.8% | — | ||
| Q3 25 | 21.2% | — | ||
| Q2 25 | 12.8% | — | ||
| Q1 25 | 47.4% | — | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 26.2% | — | ||
| Q1 24 | 49.2% | — |
营业利润率ACTGMP
| Q4 25 | -26.1% | -7.0% | ||
| Q3 25 | -10.8% | -125.2% | ||
| Q2 25 | -24.2% | -76.5% | ||
| Q1 25 | 30.8% | -57.2% | ||
| Q4 24 | -32.4% | -72.1% | ||
| Q3 24 | -44.1% | -62.8% | ||
| Q2 24 | -18.4% | -171.1% | ||
| Q1 24 | -8.6% | -66.6% |
净利率ACTGMP
| Q4 25 | 6.8% | 17.9% | ||
| Q3 25 | -4.6% | -78.0% | ||
| Q2 25 | -6.4% | -53.8% | ||
| Q1 25 | 19.5% | -37.2% | ||
| Q4 24 | -27.5% | -36.6% | ||
| Q3 24 | -60.0% | -40.5% | ||
| Q2 24 | -32.7% | -108.9% | ||
| Q1 24 | -0.8% | 33.9% |
每股收益（稀释后）ACTGMP
| Q4 25 | $0.03 | $0.07 | ||
| Q3 25 | $-0.03 | $-0.24 | ||
| Q2 25 | $-0.03 | $-0.19 | ||
| Q1 25 | $0.25 | $-0.14 | ||
| Q4 24 | $-0.14 | $-0.12 | ||
| Q3 24 | $-0.14 | $-0.16 | ||
| Q2 24 | $-0.08 | $-0.21 | ||
| Q1 24 | $0.00 | $-0.08 |
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 | $306.7M | $1.2B |
| 总债务越低越好 | $91.9M | $998.7M |
| 股东权益账面价值 | $543.5M | $2.0B |
| 总资产 | $771.0M | $3.9B |
| 负债/权益比越低杠杆越低 | 0.17× | 0.50× |
8季度趋势，按日历期对齐
现金及短期投资ACTGMP
| Q4 25 | $306.7M | $1.2B | ||
| Q3 25 | $301.8M | $1.1B | ||
| Q2 25 | $316.7M | $261.5M | ||
| Q1 25 | $272.0M | $198.3M | ||
| Q4 24 | $273.9M | $282.4M | ||
| Q3 24 | $410.9M | $284.4M | ||
| Q2 24 | $441.9M | $295.6M | ||
| Q1 24 | $498.4M | $296.5M |
总债务ACTGMP
| Q4 25 | $91.9M | $998.7M | ||
| Q3 25 | — | $997.3M | ||
| Q2 25 | — | $910.8M | ||
| Q1 25 | — | $909.8M | ||
| Q4 24 | — | $908.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ACTGMP
| Q4 25 | $543.5M | $2.0B | ||
| Q3 25 | $537.6M | $2.0B | ||
| Q2 25 | $538.6M | $1.0B | ||
| Q1 25 | $540.2M | $1.0B | ||
| Q4 24 | $514.8M | $1.1B | ||
| Q3 24 | $540.2M | $1.1B | ||
| Q2 24 | $560.7M | $1.1B | ||
| Q1 24 | $568.3M | $1.1B |
总资产ACTGMP
| Q4 25 | $771.0M | $3.9B | ||
| Q3 25 | $768.9M | $3.8B | ||
| Q2 25 | $775.5M | $2.3B | ||
| Q1 25 | $801.6M | $2.4B | ||
| Q4 24 | $756.4M | $2.3B | ||
| Q3 24 | $707.6M | $2.3B | ||
| Q2 24 | $753.6M | $2.4B | ||
| Q1 24 | $631.7M | $2.4B |
负债/权益比ACTGMP
| Q4 25 | 0.17× | 0.50× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.88× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $75.2M | $-46.9M |
| 自由现金流经营现金流 - 资本支出 | — | $-109.3M |
| 自由现金流率自由现金流/营收 | — | -207.4% |
| 资本支出强度资本支出/营收 | — | 118.5% |
| 现金转化率经营现金流/净利润 | 22.01× | -4.97× |
| 过去12个月自由现金流最近4个季度 | — | $-328.1M |
8季度趋势，按日历期对齐
经营现金流ACTGMP
| Q4 25 | $75.2M | $-46.9M | ||
| Q3 25 | $9.5M | $-42.0M | ||
| Q2 25 | $50.1M | $-3.7M | ||
| Q1 25 | $2.4M | $-63.2M | ||
| Q4 24 | $50.1M | $30.5M | ||
| Q3 24 | $-593.0K | $-6.8M | ||
| Q2 24 | $16.1M | $30.8M | ||
| Q1 24 | $54.8M | $-41.1M |
自由现金流ACTGMP
| Q4 25 | — | $-109.3M | ||
| Q3 25 | — | $-92.5M | ||
| Q2 25 | — | $-32.7M | ||
| Q1 25 | $335.0K | $-93.7M | ||
| Q4 24 | $-98.5M | $-11.2M | ||
| Q3 24 | $-2.8M | $-53.3M | ||
| Q2 24 | $-126.7M | $-15.6M | ||
| Q1 24 | $54.6M | $-93.0M |
自由现金流率ACTGMP
| Q4 25 | — | -207.4% | ||
| Q3 25 | — | -172.8% | ||
| Q2 25 | — | -56.9% | ||
| Q1 25 | 0.3% | -154.0% | ||
| Q4 24 | -201.8% | -18.3% | ||
| Q3 24 | -12.1% | -84.7% | ||
| Q2 24 | -490.5% | -50.1% | ||
| Q1 24 | 224.4% | -191.0% |
资本支出强度ACTGMP
| Q4 25 | — | 118.5% | ||
| Q3 25 | — | 94.3% | ||
| Q2 25 | — | 50.5% | ||
| Q1 25 | 1.7% | 50.1% | ||
| Q4 24 | 304.4% | 68.3% | ||
| Q3 24 | 9.6% | 73.8% | ||
| Q2 24 | 553.0% | 148.7% | ||
| Q1 24 | 1.1% | 106.5% |
现金转化率ACTGMP
| Q4 25 | 22.01× | -4.97× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -2.49× |
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
ACTG
| Energy Operations | $16.0M | 32% |
| Transportation Safety | $10.4M | 21% |
| Office Storage And Display Solutions | $8.4M | 17% |
| Printers Consumables And Parts | $6.5M | 13% |
| Natural Gas Reserves | $5.1M | 10% |
| Natural Gas Liquids Reserves | $3.3M | 7% |
MP
| Materials Segment | $35.6M | 68% |
| Other | $17.1M | 32% |
