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雅保（ALB）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
雅保的季度营收约是MP Materials Corp.的27.1倍（$1.4B vs $52.7M），MP Materials Corp.净利率更高（17.9% vs -29.0%，领先46.9%），雅保同比增速更快（15.9% vs -13.6%），雅保自由现金流更多（$233.1M vs $-109.3M），过去两年MP Materials Corp.的营收复合增速更高（4.0% vs 2.4%）
雅保是全球知名的特种化学品企业，业务覆盖研发、生产与全球销售，下设锂、溴、催化剂三大板块。锂业务线供应碳酸锂、氢氧化锂、氯化锂等锂化合物及相关试剂，产品广泛应用于消费电子、电动汽车锂电池、高性能润滑脂、热塑性弹性体等领域。
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。
ALB vs MP — 直观对比
营收规模更大
ALB
是对方的27.1倍
$52.7M
营收增速更快
ALB
高出29.5%
-13.6%
净利率更高
MP
高出46.9%
-29.0%
自由现金流更多
ALB
多$342.4M
$-109.3M
两年增速更快
MP
近两年复合增速
2.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $52.7M |
| 净利润 | $-414.2M | $9.4M |
| 毛利率 | 13.9% | — |
| 营业利润率 | -15.2% | -7.0% |
| 净利率 | -29.0% | 17.9% |
| 营收同比 | 15.9% | -13.6% |
| 净利润同比 | -650.1% | 142.2% |
| 每股收益（稀释后） | $-3.88 | $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ALBMP
| Q4 25 | $1.4B | $52.7M | ||
| Q3 25 | $1.3B | $53.6M | ||
| Q2 25 | $1.3B | $57.4M | ||
| Q1 25 | $1.1B | $60.8M | ||
| Q4 24 | $1.2B | $61.0M | ||
| Q3 24 | $1.4B | $62.9M | ||
| Q2 24 | $1.4B | $31.3M | ||
| Q1 24 | $1.4B | $48.7M |
净利润ALBMP
| Q4 25 | $-414.2M | $9.4M | ||
| Q3 25 | $-160.7M | $-41.8M | ||
| Q2 25 | $22.9M | $-30.9M | ||
| Q1 25 | $41.3M | $-22.6M | ||
| Q4 24 | $75.3M | $-22.3M | ||
| Q3 24 | $-1.1B | $-25.5M | ||
| Q2 24 | $-188.2M | $-34.1M | ||
| Q1 24 | $2.4M | $16.5M |
毛利率ALBMP
| Q4 25 | 13.9% | — | ||
| Q3 25 | 9.0% | — | ||
| Q2 25 | 14.8% | — | ||
| Q1 25 | 14.5% | — | ||
| Q4 24 | 11.2% | — | ||
| Q3 24 | -7.7% | — | ||
| Q2 24 | -0.7% | — | ||
| Q1 24 | 2.9% | — |
营业利润率ALBMP
| Q4 25 | -15.2% | -7.0% | ||
| Q3 25 | -16.6% | -125.2% | ||
| Q2 25 | 3.6% | -76.5% | ||
| Q1 25 | 1.8% | -57.2% | ||
| Q4 24 | 0.4% | -72.1% | ||
| Q3 24 | -81.9% | -62.8% | ||
| Q2 24 | -34.4% | -171.1% | ||
| Q1 24 | -13.2% | -66.6% |
净利率ALBMP
| Q4 25 | -29.0% | 17.9% | ||
| Q3 25 | -12.3% | -78.0% | ||
| Q2 25 | 1.7% | -53.8% | ||
| Q1 25 | 3.8% | -37.2% | ||
| Q4 24 | 6.1% | -36.6% | ||
| Q3 24 | -78.9% | -40.5% | ||
| Q2 24 | -13.2% | -108.9% | ||
| Q1 24 | 0.2% | 33.9% |
每股收益（稀释后）ALBMP
| Q4 25 | $-3.88 | $0.07 | ||
| Q3 25 | $-1.72 | $-0.24 | ||
| Q2 25 | $-0.16 | $-0.19 | ||
| Q1 25 | $0.00 | $-0.14 | ||
| Q4 24 | $0.29 | $-0.12 | ||
| Q3 24 | $-9.45 | $-0.16 | ||
| Q2 24 | $-1.96 | $-0.21 | ||
| Q1 24 | $-0.08 | $-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 | — | $1.2B |
| 总债务越低越好 | $3.2B | $998.7M |
| 股东权益账面价值 | $9.5B | $2.0B |
| 总资产 | $16.4B | $3.9B |
| 负债/权益比越低杠杆越低 | 0.33× | 0.50× |
8季度趋势，按日历期对齐
现金及短期投资ALBMP
| Q4 25 | — | $1.2B | ||
| Q3 25 | $1.9B | $1.1B | ||
| Q2 25 | $1.8B | $261.5M | ||
| Q1 25 | $1.5B | $198.3M | ||
| Q4 24 | $1.2B | $282.4M | ||
| Q3 24 | $1.7B | $284.4M | ||
| Q2 24 | $1.8B | $295.6M | ||
| Q1 24 | $2.1B | $296.5M |
总债务ALBMP
| Q4 25 | $3.2B | $998.7M | ||
| Q3 25 | $3.6B | $997.3M | ||
| Q2 25 | $3.6B | $910.8M | ||
| Q1 25 | $3.5B | $909.8M | ||
| Q4 24 | $3.5B | $908.7M | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $3.5B | — | ||
| Q1 24 | $3.5B | — |
股东权益ALBMP
| Q4 25 | $9.5B | $2.0B | ||
| Q3 25 | $10.0B | $2.0B | ||
| Q2 25 | $10.2B | $1.0B | ||
| Q1 25 | $10.0B | $1.0B | ||
| Q4 24 | $10.0B | $1.1B | ||
| Q3 24 | $10.2B | $1.1B | ||
| Q2 24 | $11.2B | $1.1B | ||
| Q1 24 | $11.5B | $1.1B |
总资产ALBMP
| Q4 25 | $16.4B | $3.9B | ||
| Q3 25 | $17.1B | $3.8B | ||
| Q2 25 | $17.3B | $2.3B | ||
| Q1 25 | $17.0B | $2.4B | ||
| Q4 24 | $16.6B | $2.3B | ||
| Q3 24 | $17.5B | $2.3B | ||
| Q2 24 | $18.4B | $2.4B | ||
| Q1 24 | $19.0B | $2.4B |
负债/权益比ALBMP
| Q4 25 | 0.33× | 0.50× | ||
| Q3 25 | 0.36× | 0.51× | ||
| Q2 25 | 0.35× | 0.90× | ||
| Q1 25 | 0.35× | 0.88× | ||
| Q4 24 | 0.35× | 0.86× | ||
| Q3 24 | 0.35× | — | ||
| Q2 24 | 0.31× | — | ||
| Q1 24 | 0.31× | — |
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 | $388.5M | $-46.9M |
| 自由现金流经营现金流 - 资本支出 | $233.1M | $-109.3M |
| 自由现金流率自由现金流/营收 | 16.3% | -207.4% |
| 资本支出强度资本支出/营收 | 10.9% | 118.5% |
| 现金转化率经营现金流/净利润 | — | -4.97× |
| 过去12个月自由现金流最近4个季度 | $692.5M | $-328.1M |
8季度趋势，按日历期对齐
经营现金流ALBMP
| Q4 25 | $388.5M | $-46.9M | ||
| Q3 25 | $355.6M | $-42.0M | ||
| Q2 25 | $-7.2M | $-3.7M | ||
| Q1 25 | $545.4M | $-63.2M | ||
| Q4 24 | $674.0K | $30.5M | ||
| Q3 24 | $240.5M | $-6.8M | ||
| Q2 24 | $362.9M | $30.8M | ||
| Q1 24 | $98.0M | $-41.1M |
自由现金流ALBMP
| Q4 25 | $233.1M | $-109.3M | ||
| Q3 25 | $223.4M | $-92.5M | ||
| Q2 25 | $-126.8M | $-32.7M | ||
| Q1 25 | $362.8M | $-93.7M | ||
| Q4 24 | $-355.1M | $-11.2M | ||
| Q3 24 | $-62.6M | $-53.3M | ||
| Q2 24 | $-84.7M | $-15.6M | ||
| Q1 24 | $-481.4M | $-93.0M |
自由现金流率ALBMP
| Q4 25 | 16.3% | -207.4% | ||
| Q3 25 | 17.1% | -172.8% | ||
| Q2 25 | -9.5% | -56.9% | ||
| Q1 25 | 33.7% | -154.0% | ||
| Q4 24 | -28.8% | -18.3% | ||
| Q3 24 | -4.6% | -84.7% | ||
| Q2 24 | -5.9% | -50.1% | ||
| Q1 24 | -35.4% | -191.0% |
资本支出强度ALBMP
| Q4 25 | 10.9% | 118.5% | ||
| Q3 25 | 10.1% | 94.3% | ||
| Q2 25 | 9.0% | 50.5% | ||
| Q1 25 | 17.0% | 50.1% | ||
| Q4 24 | 28.9% | 68.3% | ||
| Q3 24 | 22.4% | 73.8% | ||
| Q2 24 | 31.3% | 148.7% | ||
| Q1 24 | 42.6% | 106.5% |
现金转化率ALBMP
| Q4 25 | — | -4.97× | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.31× | — | ||
| Q1 25 | 13.19× | — | ||
| Q4 24 | 0.01× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 40.01× | -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
ALB
| Energy Storage | $759.1M | 53% |
| Specialties | $348.9M | 24% |
| Ketjen | $320.1M | 22% |
MP
| Materials Segment | $35.6M | 68% |
| Other | $17.1M | 32% |
