vs
美国铁塔（AMT）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
美国铁塔的季度营收约是美泰的3.2倍（$2.7B vs $862.2M），美国铁塔净利率更高（110.1% vs 7.1%，领先103.0%），美国铁塔自由现金流更多（$941.0M vs $-88.1M），过去两年美国铁塔的营收复合增速更高（3.7% vs -10.6%）
美国铁塔是全球规模最大的房地产投资信托基金（REIT）之一，作为领先的独立多租户通信地产持有、运营及开发商，目前在全球范围内拥有约21.9万个通信站点，为全球通信产业提供可靠的基础设施支持。
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。
AMT vs MAT — 直观对比
营收规模更大
AMT
是对方的3.2倍
$862.2M
净利率更高
AMT
高出103.0%
7.1%
自由现金流更多
AMT
多$1.0B
$-88.1M
两年增速更快
AMT
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $862.2M |
| 净利润 | $3.0B | $61.0M |
| 毛利率 | — | 44.9% |
| 营业利润率 | 0.0% | — |
| 净利率 | 110.1% | 7.1% |
| 营收同比 | — | 4.3% |
| 净利润同比 | — | 251.4% |
| 每股收益（稀释后） | — | $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AMTMAT
| Q1 26 | $2.7B | $862.2M | ||
| Q4 25 | $2.7B | $1.8B | ||
| Q3 25 | $2.7B | $1.7B | ||
| Q2 25 | $2.6B | $1.0B | ||
| Q1 25 | $2.6B | $826.6M | ||
| Q4 24 | $2.5B | $1.6B | ||
| Q3 24 | $2.5B | $1.8B | ||
| Q2 24 | $2.5B | $1.1B |
净利润AMTMAT
| Q1 26 | $3.0B | $61.0M | ||
| Q4 25 | $836.8M | $106.2M | ||
| Q3 25 | $912.6M | $278.4M | ||
| Q2 25 | $380.5M | $53.4M | ||
| Q1 25 | $498.6M | $-40.3M | ||
| Q4 24 | $1.2B | $140.9M | ||
| Q3 24 | $-780.4M | $372.4M | ||
| Q2 24 | $908.4M | $56.9M |
毛利率AMTMAT
| 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AMTMAT
| Q1 26 | 0.0% | — | ||
| Q4 25 | 42.4% | 8.0% | ||
| Q3 25 | 45.4% | 21.9% | ||
| Q2 25 | 45.6% | 7.7% | ||
| Q1 25 | 48.9% | -6.4% | ||
| Q4 24 | 42.4% | 9.6% | ||
| Q3 24 | 45.2% | 26.5% | ||
| Q2 24 | 45.4% | 7.7% |
净利率AMTMAT
| Q1 26 | 110.1% | 7.1% | ||
| Q4 25 | 30.6% | 6.0% | ||
| Q3 25 | 33.6% | 16.0% | ||
| Q2 25 | 14.5% | 5.2% | ||
| Q1 25 | 19.5% | -4.9% | ||
| Q4 24 | 48.3% | 8.6% | ||
| Q3 24 | -30.9% | 20.2% | ||
| Q2 24 | 35.7% | 5.3% |
每股收益（稀释后）AMTMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | $1.76 | $0.32 | ||
| Q3 25 | $1.82 | $0.88 | ||
| Q2 25 | $0.78 | $0.16 | ||
| Q1 25 | $1.04 | $-0.12 | ||
| Q4 24 | $2.63 | $0.40 | ||
| Q3 24 | $-1.69 | $1.09 | ||
| Q2 24 | $1.92 | $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 | $1.6B | $866.0M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $10.2B | $2.1B |
| 总资产 | — | $6.3B |
| 负债/权益比越低杠杆越低 | — | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资AMTMAT
| Q1 26 | $1.6B | $866.0M | ||
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $2.0B | $691.9M | ||
| Q2 25 | $2.1B | $870.5M | ||
| Q1 25 | $2.1B | $1.2B | ||
| Q4 24 | $2.0B | $1.4B | ||
| Q3 24 | $2.2B | $723.5M | ||
| Q2 24 | $2.2B | $722.4M |
总债务AMTMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | $33.8B | $2.3B | ||
| Q3 25 | $34.9B | $2.3B | ||
| Q2 25 | $35.2B | $2.3B | ||
| Q1 25 | $34.0B | $2.3B | ||
| Q4 24 | $32.8B | $2.3B | ||
| Q3 24 | $33.4B | $2.3B | ||
| Q2 24 | $35.6B | $2.3B |
股东权益AMTMAT
| Q1 26 | $10.2B | $2.1B | ||
| Q4 25 | $3.7B | $2.2B | ||
| Q3 25 | $4.0B | $2.3B | ||
| Q2 25 | $3.7B | $2.2B | ||
| Q1 25 | $3.5B | $2.1B | ||
| Q4 24 | $3.4B | $2.3B | ||
| Q3 24 | $3.6B | $2.3B | ||
| Q2 24 | $3.9B | $2.0B |
总资产AMTMAT
| Q1 26 | — | $6.3B | ||
| Q4 25 | $63.2B | $6.6B | ||
| Q3 25 | $63.9B | $6.6B | ||
| Q2 25 | $63.8B | $6.2B | ||
| Q1 25 | $62.1B | $6.2B | ||
| Q4 24 | $61.1B | $6.5B | ||
| Q3 24 | $62.8B | $6.5B | ||
| Q2 24 | $65.8B | $5.9B |
负债/权益比AMTMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | 9.26× | 1.04× | ||
| Q3 25 | 8.82× | 1.03× | ||
| Q2 25 | 9.48× | 1.08× | ||
| Q1 25 | 9.63× | 1.10× | ||
| Q4 24 | 9.70× | 1.03× | ||
| Q3 24 | 9.16× | 1.01× | ||
| Q2 24 | 9.24× | 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 | — | — |
| 自由现金流经营现金流 - 资本支出 | $941.0M | $-88.1M |
| 自由现金流率自由现金流/营收 | 34.4% | -10.2% |
| 资本支出强度资本支出/营收 | 16.8% | 7.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $6.7B | — |
8季度趋势，按日历期对齐
经营现金流AMTMAT
| Q1 26 | — | — | ||
| Q4 25 | $5.5B | $796.6M | ||
| Q3 25 | $1.5B | $72.0M | ||
| Q2 25 | $1.3B | $-300.1M | ||
| Q1 25 | $1.3B | $24.8M | ||
| Q4 24 | $5.3B | $862.1M | ||
| Q3 24 | $1.5B | $155.8M | ||
| Q2 24 | $1.3B | $-252.9M |
自由现金流AMTMAT
| Q1 26 | $941.0M | $-88.1M | ||
| Q4 25 | $3.8B | — | ||
| Q3 25 | $994.5M | — | ||
| Q2 25 | $976.9M | — | ||
| Q1 25 | $963.9M | — | ||
| Q4 24 | $3.7B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — |
自由现金流率AMTMAT
| Q1 26 | 34.4% | -10.2% | ||
| Q4 25 | 138.2% | — | ||
| Q3 25 | 36.6% | — | ||
| Q2 25 | 37.2% | — | ||
| Q1 25 | 37.6% | — | ||
| Q4 24 | 145.3% | — | ||
| Q3 24 | 41.4% | — | ||
| Q2 24 | 39.8% | — |
资本支出强度AMTMAT
| Q1 26 | 16.8% | 7.6% | ||
| Q4 25 | 61.4% | — | ||
| Q3 25 | 17.1% | — | ||
| Q2 25 | 11.6% | — | ||
| Q1 25 | 12.9% | — | ||
| Q4 24 | 62.4% | — | ||
| Q3 24 | 16.8% | — | ||
| Q2 24 | 12.8% | — |
现金转化率AMTMAT
| Q1 26 | — | — | ||
| Q4 25 | 6.53× | 7.50× | ||
| Q3 25 | 1.60× | 0.26× | ||
| Q2 25 | 3.37× | -5.62× | ||
| Q1 25 | 2.60× | — | ||
| Q4 24 | 4.30× | 6.12× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | 1.47× | -4.45× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
