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Amentum Holdings, Inc.（AMTM）与美高梅国际度假村（MGM）财务数据对比。点击上方公司名可切换其他公司
美高梅国际度假村的季度营收约是Amentum Holdings, Inc.的1.4倍（$4.6B vs $3.2B），美高梅国际度假村净利率更高（6.4% vs 1.4%，领先5.0%），美高梅国际度假村同比增速更快（6.0% vs -5.2%），美高梅国际度假村自由现金流更多（$358.5M vs $-142.0M），过去两年Amentum Holdings, Inc.的营收复合增速更高（25.6% vs 2.5%）
本公司是总部位于美国达拉斯的跨国技术专业服务企业，面向全球企业、机构及政府部门客户提供工程、技术、建设服务以及科学与专项咨询服务，连续6年蝉联《工程新闻纪录》（ENR）全球顶尖设计企业500强榜首。
美高梅国际度假村是美国跨国文旅、体育及娱乐集团，在拉斯维加斯、美国多个州以及中国澳门、上海、成都、杭州、三亚等地运营度假项目，旗下拥有百乐宫、曼德勒海湾、米高梅大酒店、Park MGM等知名物业。
AMTM vs MGM — 直观对比
营收规模更大
MGM
是对方的1.4倍
$3.2B
营收增速更快
MGM
高出11.2%
-5.2%
净利率更高
MGM
高出5.0%
1.4%
自由现金流更多
MGM
多$500.5M
$-142.0M
两年增速更快
AMTM
近两年复合增速
2.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $4.6B |
| 净利润 | $44.0M | $293.6M |
| 毛利率 | 10.1% | — |
| 营业利润率 | 4.3% | 7.1% |
| 净利率 | 1.4% | 6.4% |
| 营收同比 | -5.2% | 6.0% |
| 净利润同比 | 266.7% | 86.5% |
| 每股收益（稀释后） | $0.18 | $1.12 |
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AMTMMGM
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.9B | $4.6B | ||
| Q3 25 | — | $4.3B | ||
| Q2 25 | $3.6B | $4.4B | ||
| Q1 25 | $3.5B | $4.3B | ||
| Q4 24 | $3.4B | $4.3B | ||
| Q3 24 | $2.2B | $4.2B | ||
| Q2 24 | $2.1B | $4.3B |
净利润AMTMMGM
| Q1 26 | $44.0M | — | ||
| Q4 25 | $40.0M | $293.6M | ||
| Q3 25 | — | $-285.3M | ||
| Q2 25 | $10.0M | $49.0M | ||
| Q1 25 | $4.0M | $148.6M | ||
| Q4 24 | $12.0M | $157.4M | ||
| Q3 24 | $26.0M | $184.6M | ||
| Q2 24 | $-26.0M | $187.1M |
毛利率AMTMMGM
| Q1 26 | 10.1% | — | ||
| Q4 25 | 10.6% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 10.3% | — | ||
| Q1 25 | 10.5% | — | ||
| Q4 24 | 10.6% | — | ||
| Q3 24 | 9.0% | — | ||
| Q2 24 | 9.6% | — |
营业利润率AMTMMGM
| Q1 26 | 4.3% | — | ||
| Q4 25 | 3.4% | 7.1% | ||
| Q3 25 | — | -2.7% | ||
| Q2 25 | 2.9% | 9.2% | ||
| Q1 25 | 3.2% | 9.0% | ||
| Q4 24 | 3.9% | 6.7% | ||
| Q3 24 | 1.2% | 7.5% | ||
| Q2 24 | 4.2% | 9.8% |
净利率AMTMMGM
| Q1 26 | 1.4% | — | ||
| Q4 25 | 1.0% | 6.4% | ||
| Q3 25 | — | -6.7% | ||
| Q2 25 | 0.3% | 1.1% | ||
| Q1 25 | 0.1% | 3.5% | ||
| Q4 24 | 0.4% | 3.6% | ||
| Q3 24 | 1.2% | 4.4% | ||
| Q2 24 | -1.2% | 4.3% |
每股收益（稀释后）AMTMMGM
| Q1 26 | $0.18 | — | ||
| Q4 25 | $0.16 | $1.12 | ||
| Q3 25 | — | $-1.05 | ||
| Q2 25 | $0.04 | $0.18 | ||
| Q1 25 | $0.02 | $0.51 | ||
| Q4 24 | $0.05 | $0.52 | ||
| Q3 24 | $0.31 | $0.61 | ||
| Q2 24 | $-0.29 | $0.60 |
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 | $247.0M | $2.1B |
| 总债务越低越好 | $3.9B | $6.2B |
| 股东权益账面价值 | $4.6B | $2.4B |
| 总资产 | $11.2B | $41.4B |
| 负债/权益比越低杠杆越低 | 0.86× | 2.56× |
8季度趋势，按日历期对齐
现金及短期投资AMTMMGM
| Q1 26 | $247.0M | — | ||
| Q4 25 | $437.0M | $2.1B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | $738.0M | $2.0B | ||
| Q1 25 | $546.0M | $2.3B | ||
| Q4 24 | $522.0M | $2.4B | ||
| Q3 24 | $452.0M | $3.0B | ||
| Q2 24 | — | $2.4B |
总债务AMTMMGM
| Q1 26 | $3.9B | — | ||
| Q4 25 | $3.9B | $6.2B | ||
| Q3 25 | — | $6.2B | ||
| Q2 25 | $4.5B | $6.2B | ||
| Q1 25 | $4.7B | $6.4B | ||
| Q4 24 | $4.7B | $6.4B | ||
| Q3 24 | $4.7B | $6.9B | ||
| Q2 24 | — | $6.3B |
股东权益AMTMMGM
| Q1 26 | $4.6B | — | ||
| Q4 25 | $4.5B | $2.4B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | $4.5B | $3.0B | ||
| Q1 25 | $4.4B | $2.9B | ||
| Q4 24 | $4.5B | $3.0B | ||
| Q3 24 | $4.5B | $3.2B | ||
| Q2 24 | $303.0M | $3.2B |
总资产AMTMMGM
| Q1 26 | $11.2B | — | ||
| Q4 25 | $11.5B | $41.4B | ||
| Q3 25 | — | $41.4B | ||
| Q2 25 | $11.8B | $41.7B | ||
| Q1 25 | $12.0B | $41.9B | ||
| Q4 24 | $11.9B | $42.2B | ||
| Q3 24 | $12.0B | $42.7B | ||
| Q2 24 | — | $41.8B |
负债/权益比AMTMMGM
| Q1 26 | 0.86× | — | ||
| Q4 25 | 0.88× | 2.56× | ||
| Q3 25 | — | 2.30× | ||
| Q2 25 | 1.01× | 2.09× | ||
| Q1 25 | 1.06× | 2.25× | ||
| Q4 24 | 1.05× | 2.10× | ||
| Q3 24 | 1.05× | 2.14× | ||
| Q2 24 | — | 1.96× |
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 | $-136.0M | $655.0M |
| 自由现金流经营现金流 - 资本支出 | $-142.0M | $358.5M |
| 自由现金流率自由现金流/营收 | -4.4% | 7.8% |
| 资本支出强度资本支出/营收 | 0.2% | 6.4% |
| 现金转化率经营现金流/净利润 | -3.09× | 2.23× |
| 过去12个月自由现金流最近4个季度 | $272.0M | $1.5B |
8季度趋势，按日历期对齐
经营现金流AMTMMGM
| Q1 26 | $-136.0M | — | ||
| Q4 25 | $270.0M | $655.0M | ||
| Q3 25 | — | $681.4M | ||
| Q2 25 | $106.0M | $645.9M | ||
| Q1 25 | $57.0M | $547.1M | ||
| Q4 24 | $110.0M | $671.6M | ||
| Q3 24 | — | $667.4M | ||
| Q2 24 | — | $474.2M |
自由现金流AMTMMGM
| Q1 26 | $-142.0M | — | ||
| Q4 25 | $261.0M | $358.5M | ||
| Q3 25 | — | $405.4M | ||
| Q2 25 | $100.0M | $377.4M | ||
| Q1 25 | $53.0M | $319.0M | ||
| Q4 24 | $102.0M | $267.5M | ||
| Q3 24 | — | $331.2M | ||
| Q2 24 | — | $236.0M |
自由现金流率AMTMMGM
| Q1 26 | -4.4% | — | ||
| Q4 25 | 6.6% | 7.8% | ||
| Q3 25 | — | 9.5% | ||
| Q2 25 | 2.8% | 8.6% | ||
| Q1 25 | 1.5% | 7.5% | ||
| Q4 24 | 3.0% | 6.2% | ||
| Q3 24 | — | 7.9% | ||
| Q2 24 | — | 5.5% |
资本支出强度AMTMMGM
| Q1 26 | 0.2% | — | ||
| Q4 25 | 0.2% | 6.4% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | 0.2% | 6.1% | ||
| Q1 25 | 0.1% | 5.3% | ||
| Q4 24 | 0.2% | 9.3% | ||
| Q3 24 | — | 8.0% | ||
| Q2 24 | — | 5.5% |
现金转化率AMTMMGM
| Q1 26 | -3.09× | — | ||
| Q4 25 | 6.75× | 2.23× | ||
| Q3 25 | — | — | ||
| Q2 25 | 10.60× | 13.19× | ||
| Q1 25 | 14.25× | 3.68× | ||
| Q4 24 | 9.17× | 4.27× | ||
| Q3 24 | — | 3.62× | ||
| Q2 24 | — | 2.54× |
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
AMTM
| Global Engineering Solutions Segment | $1.9B | 59% |
| Other U.S.Government Agencies | $400.0M | 12% |
| Fixed Price Contract | $380.0M | 12% |
| Commercial And International | $226.0M | 7% |
| Time And Materials Contract | $171.0M | 5% |
| Sales Channel Through Intermediary | $78.0M | 2% |
| Equity Method Investee | $50.0M | 2% |
MGM
| Casino | $2.6B | 56% |
| Occupancy | $858.4M | 19% |
| Food And Beverage | $749.0M | 16% |
| Entertainment Retail And Other | $423.0M | 9% |
