vs
American Homes 4 Rent（AMH）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
美泰的季度营收约是American Homes 4 Rent的1.9倍（$862.2M vs $455.0M），American Homes 4 Rent净利率更高（31.7% vs 7.1%，领先24.6%），美泰同比增速更快（4.3% vs 4.2%），American Homes 4 Rent自由现金流更多（$823.7M vs $-88.1M），过去两年American Homes 4 Rent的营收复合增速更高（3.6% vs -10.6%）
AMH（American Homes 4 Rent）是总部位于美国内华达州拉斯维加斯的住宅房地产投资信托基金，主打单户住宅租赁业务。截至2019年12月31日，公司在全美22个州共持有52552套住宅，资产主要集中在亚特兰大、达拉斯-沃斯堡及北卡罗来纳州夏洛特地区。
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
AMH vs MAT — 直观对比
营收规模更大
MAT
是对方的1.9倍
$455.0M
营收增速更快
MAT
高出0.1%
4.2%
净利率更高
AMH
高出24.6%
7.1%
自由现金流更多
AMH
多$911.8M
$-88.1M
两年增速更快
AMH
近两年复合增速
-10.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $455.0M | $862.2M |
| 净利润 | $144.3M | $61.0M |
| 毛利率 | — | 44.9% |
| 营业利润率 | — | — |
| 净利率 | 31.7% | 7.1% |
| 营收同比 | 4.2% | 4.3% |
| 净利润同比 | 0.3% | 251.4% |
| 每股收益（稀释后） | $0.33 | $0.20 |
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AMHMAT
| Q1 26 | — | $862.2M | ||
| Q4 25 | $455.0M | $1.8B | ||
| Q3 25 | $478.5M | $1.7B | ||
| Q2 25 | $457.5M | $1.0B | ||
| Q1 25 | $459.3M | $826.6M | ||
| Q4 24 | $436.6M | $1.6B | ||
| Q3 24 | $445.1M | $1.8B | ||
| Q2 24 | $423.5M | $1.1B |
净利润AMHMAT
| Q1 26 | — | $61.0M | ||
| Q4 25 | $144.3M | $106.2M | ||
| Q3 25 | $116.8M | $278.4M | ||
| Q2 25 | $123.6M | $53.4M | ||
| Q1 25 | $128.7M | $-40.3M | ||
| Q4 24 | $143.9M | $140.9M | ||
| Q3 24 | $87.6M | $372.4M | ||
| Q2 24 | $108.5M | $56.9M |
毛利率AMHMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 50.0% | ||
| Q2 25 | — | 50.9% | ||
| Q1 25 | — | 49.4% | ||
| Q4 24 | — | 50.7% | ||
| Q3 24 | — | 53.1% | ||
| Q2 24 | — | 49.2% |
营业利润率AMHMAT
| Q1 26 | — | — | ||
| Q4 25 | — | 8.0% | ||
| Q3 25 | — | 21.9% | ||
| Q2 25 | — | 7.7% | ||
| Q1 25 | — | -6.4% | ||
| Q4 24 | — | 9.6% | ||
| Q3 24 | — | 26.5% | ||
| Q2 24 | — | 7.7% |
净利率AMHMAT
| Q1 26 | — | 7.1% | ||
| Q4 25 | 31.7% | 6.0% | ||
| Q3 25 | 24.4% | 16.0% | ||
| Q2 25 | 27.0% | 5.2% | ||
| Q1 25 | 28.0% | -4.9% | ||
| Q4 24 | 33.0% | 8.6% | ||
| Q3 24 | 19.7% | 20.2% | ||
| Q2 24 | 25.6% | 5.3% |
每股收益（稀释后）AMHMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | $0.33 | $0.32 | ||
| Q3 25 | $0.27 | $0.88 | ||
| Q2 25 | $0.28 | $0.16 | ||
| Q1 25 | $0.30 | $-0.12 | ||
| Q4 24 | $0.33 | $0.40 | ||
| Q3 24 | $0.20 | $1.09 | ||
| Q2 24 | $0.25 | $0.17 |
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 | $108.5M | $866.0M |
| 总债务越低越好 | $5.1B | $2.3B |
| 股东权益账面价值 | $7.0B | $2.1B |
| 总资产 | $13.2B | $6.3B |
| 负债/权益比越低杠杆越低 | 0.72× | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资AMHMAT
| Q1 26 | — | $866.0M | ||
| Q4 25 | $108.5M | $1.2B | ||
| Q3 25 | $45.6M | $691.9M | ||
| Q2 25 | $323.3M | $870.5M | ||
| Q1 25 | $69.7M | $1.2B | ||
| Q4 24 | $199.4M | $1.4B | ||
| Q3 24 | $162.5M | $723.5M | ||
| Q2 24 | $718.4M | $722.4M |
总债务AMHMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | $5.1B | $2.3B | ||
| Q3 25 | $4.8B | $2.3B | ||
| Q2 25 | $5.2B | $2.3B | ||
| Q1 25 | $4.9B | $2.3B | ||
| Q4 24 | $5.0B | $2.3B | ||
| Q3 24 | $4.5B | $2.3B | ||
| Q2 24 | $5.0B | $2.3B |
股东权益AMHMAT
| Q1 26 | — | $2.1B | ||
| Q4 25 | $7.0B | $2.2B | ||
| Q3 25 | $7.2B | $2.3B | ||
| Q2 25 | $7.2B | $2.2B | ||
| Q1 25 | $7.2B | $2.1B | ||
| Q4 24 | $7.2B | $2.3B | ||
| Q3 24 | $7.0B | $2.3B | ||
| Q2 24 | $7.0B | $2.0B |
总资产AMHMAT
| Q1 26 | — | $6.3B | ||
| Q4 25 | $13.2B | $6.6B | ||
| Q3 25 | $13.3B | $6.6B | ||
| Q2 25 | $13.6B | $6.2B | ||
| Q1 25 | $13.3B | $6.2B | ||
| Q4 24 | $13.4B | $6.5B | ||
| Q3 24 | $12.8B | $6.5B | ||
| Q2 24 | $13.3B | $5.9B |
负债/权益比AMHMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | 0.72× | 1.04× | ||
| Q3 25 | 0.68× | 1.03× | ||
| Q2 25 | 0.72× | 1.08× | ||
| Q1 25 | 0.69× | 1.10× | ||
| Q4 24 | 0.70× | 1.03× | ||
| Q3 24 | 0.64× | 1.01× | ||
| Q2 24 | 0.71× | 1.18× |
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 | $864.3M | — |
| 自由现金流经营现金流 - 资本支出 | $823.7M | $-88.1M |
| 自由现金流率自由现金流/营收 | 181.0% | -10.2% |
| 资本支出强度资本支出/营收 | 8.9% | 7.6% |
| 现金转化率经营现金流/净利润 | 5.99× | — |
| 过去12个月自由现金流最近4个季度 | $1.5B | — |
8季度趋势，按日历期对齐
经营现金流AMHMAT
| Q1 26 | — | — | ||
| Q4 25 | $864.3M | $796.6M | ||
| Q3 25 | $223.3M | $72.0M | ||
| Q2 25 | $271.9M | $-300.1M | ||
| Q1 25 | $223.4M | $24.8M | ||
| Q4 24 | $811.5M | $862.1M | ||
| Q3 24 | $233.6M | $155.8M | ||
| Q2 24 | $274.0M | $-252.9M |
自由现金流AMHMAT
| Q1 26 | — | $-88.1M | ||
| Q4 25 | $823.7M | — | ||
| Q3 25 | $214.5M | — | ||
| Q2 25 | $257.7M | — | ||
| Q1 25 | $215.9M | — | ||
| Q4 24 | $777.5M | — | ||
| Q3 24 | $225.3M | — | ||
| Q2 24 | $263.3M | — |
自由现金流率AMHMAT
| Q1 26 | — | -10.2% | ||
| Q4 25 | 181.0% | — | ||
| Q3 25 | 44.8% | — | ||
| Q2 25 | 56.3% | — | ||
| Q1 25 | 47.0% | — | ||
| Q4 24 | 178.1% | — | ||
| Q3 24 | 50.6% | — | ||
| Q2 24 | 62.2% | — |
资本支出强度AMHMAT
| Q1 26 | — | 7.6% | ||
| Q4 25 | 8.9% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 3.1% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 2.5% | — |
现金转化率AMHMAT
| Q1 26 | — | — | ||
| Q4 25 | 5.99× | 7.50× | ||
| Q3 25 | 1.91× | 0.26× | ||
| Q2 25 | 2.20× | -5.62× | ||
| Q1 25 | 1.74× | — | ||
| Q4 24 | 5.64× | 6.12× | ||
| Q3 24 | 2.67× | 0.42× | ||
| Q2 24 | 2.52× | -4.45× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
