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ASPEN AEROGELS INC（ASPN）与MERCANTILE BANK CORP（MBWM）财务数据对比。点击上方公司名可切换其他公司
MERCANTILE BANK CORP的季度营收约是ASPEN AEROGELS INC的1.6倍（$67.6M vs $41.3M），MERCANTILE BANK CORP净利率更高（33.6% vs -176.4%，领先209.9%），过去两年MERCANTILE BANK CORP的营收复合增速更高（9.1% vs -33.9%）
Aspen Aerogels Inc是全球领先的气凝胶基高性能隔热及热管理材料生产商，产品广泛应用于可再生能源、油气基础设施、航空航天、商业建筑与工业制造领域，核心市场覆盖北美、欧洲及亚太地区，旗下材料以优异的耐热性、防火性能和轻量化特性广受客户认可。
泰米尔纳德商业银行（TMB）是一家印度银行，总部位于泰米尔纳德邦杜蒂戈林。该行始建于1921年，最初名为纳达尔银行，1962年11月更名为泰米尔纳德商业银行，以拓展纳达尔社群以外的业务。目前该银行在印度全境拥有600家全功能网点、12个区域办事处及各类配套服务中心与自助设施。
ASPN vs MBWM — 直观对比
营收规模更大
MBWM
是对方的1.6倍
$41.3M
净利率更高
MBWM
高出209.9%
-176.4%
两年增速更快
MBWM
近两年复合增速
-33.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $41.3M | $67.6M |
| 净利润 | $-72.9M | $22.7M |
| 毛利率 | -55.5% | — |
| 营业利润率 | -170.3% | — |
| 净利率 | -176.4% | 33.6% |
| 营收同比 | -66.4% | — |
| 净利润同比 | -741.7% | 16.1% |
| 每股收益（稀释后） | $-0.87 | $1.32 |
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ASPNMBWM
| Q1 26 | — | $67.6M | ||
| Q4 25 | $41.3M | $62.1M | ||
| Q3 25 | $73.0M | $62.4M | ||
| Q2 25 | $78.0M | $60.9M | ||
| Q1 25 | $78.7M | $57.3M | ||
| Q4 24 | $123.1M | $58.5M | ||
| Q3 24 | $117.3M | $58.0M | ||
| Q2 24 | $117.8M | $56.8M |
净利润ASPNMBWM
| Q1 26 | — | $22.7M | ||
| Q4 25 | $-72.9M | $22.8M | ||
| Q3 25 | $-6.3M | $23.8M | ||
| Q2 25 | $-9.1M | $22.6M | ||
| Q1 25 | $-301.2M | $19.5M | ||
| Q4 24 | $11.4M | $19.6M | ||
| Q3 24 | $-13.0M | $19.6M | ||
| Q2 24 | $16.8M | $18.8M |
毛利率ASPNMBWM
| Q1 26 | — | — | ||
| Q4 25 | -55.5% | — | ||
| Q3 25 | 28.5% | — | ||
| Q2 25 | 32.4% | — | ||
| Q1 25 | 29.0% | — | ||
| Q4 24 | 38.3% | — | ||
| Q3 24 | 41.8% | — | ||
| Q2 24 | 43.8% | — |
营业利润率ASPNMBWM
| Q1 26 | — | — | ||
| Q4 25 | -170.3% | 42.0% | ||
| Q3 25 | -4.6% | 44.0% | ||
| Q2 25 | -6.6% | 42.6% | ||
| Q1 25 | -380.2% | 42.0% | ||
| Q4 24 | 12.0% | 39.7% | ||
| Q3 24 | 14.8% | 42.4% | ||
| Q2 24 | 17.0% | 41.4% |
净利率ASPNMBWM
| Q1 26 | — | 33.6% | ||
| Q4 25 | -176.4% | 36.8% | ||
| Q3 25 | -8.7% | 38.1% | ||
| Q2 25 | -11.6% | 37.1% | ||
| Q1 25 | -382.7% | 34.1% | ||
| Q4 24 | 9.2% | 33.5% | ||
| Q3 24 | -11.1% | 33.8% | ||
| Q2 24 | 14.3% | 33.1% |
每股收益（稀释后）ASPNMBWM
| Q1 26 | — | $1.32 | ||
| Q4 25 | $-0.87 | $1.41 | ||
| Q3 25 | $-0.08 | $1.46 | ||
| Q2 25 | $-0.11 | $1.39 | ||
| Q1 25 | $-3.67 | $1.21 | ||
| Q4 24 | $0.15 | $1.20 | ||
| Q3 24 | $-0.17 | $1.22 | ||
| Q2 24 | $0.21 | $1.17 |
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 | $156.9M | — |
| 总债务越低越好 | $65.5M | $1.5M |
| 股东权益账面价值 | $235.5M | $736.9M |
| 总资产 | $406.7M | $6.9B |
| 负债/权益比越低杠杆越低 | 0.28× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资ASPNMBWM
| Q1 26 | — | — | ||
| Q4 25 | $156.9M | — | ||
| Q3 25 | $150.7M | — | ||
| Q2 25 | $167.6M | — | ||
| Q1 25 | $192.0M | — | ||
| Q4 24 | $220.9M | — | ||
| Q3 24 | $113.5M | — | ||
| Q2 24 | $91.4M | — |
总债务ASPNMBWM
| Q1 26 | — | $1.5M | ||
| Q4 25 | $65.5M | — | ||
| Q3 25 | $70.1M | — | ||
| Q2 25 | $77.3M | — | ||
| Q1 25 | $95.4M | — | ||
| Q4 24 | $95.0M | — | ||
| Q3 24 | $93.7M | — | ||
| Q2 24 | — | — |
股东权益ASPNMBWM
| Q1 26 | — | $736.9M | ||
| Q4 25 | $235.5M | $724.9M | ||
| Q3 25 | $305.7M | $657.6M | ||
| Q2 25 | $308.8M | $631.5M | ||
| Q1 25 | $314.8M | $608.3M | ||
| Q4 24 | $614.7M | $584.5M | ||
| Q3 24 | $507.6M | $583.3M | ||
| Q2 24 | $517.8M | $551.2M |
总资产ASPNMBWM
| Q1 26 | — | $6.9B | ||
| Q4 25 | $406.7M | $6.8B | ||
| Q3 25 | $491.4M | $6.3B | ||
| Q2 25 | $525.1M | $6.2B | ||
| Q1 25 | $555.0M | $6.1B | ||
| Q4 24 | $895.1M | $6.1B | ||
| Q3 24 | $782.6M | $5.9B | ||
| Q2 24 | $748.6M | $5.6B |
负债/权益比ASPNMBWM
| Q1 26 | — | 0.00× | ||
| Q4 25 | 0.28× | — | ||
| Q3 25 | 0.23× | — | ||
| Q2 25 | 0.25× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.15× | — | ||
| Q3 24 | 0.18× | — | ||
| Q2 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 | $16.1M | — |
| 自由现金流经营现金流 - 资本支出 | $13.7M | — |
| 自由现金流率自由现金流/营收 | 33.1% | — |
| 资本支出强度资本支出/营收 | 6.0% | — |
| 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 | $-4.6M | — |
8季度趋势，按日历期对齐
经营现金流ASPNMBWM
| Q1 26 | — | — | ||
| Q4 25 | $16.1M | $18.0M | ||
| Q3 25 | $15.0M | $23.1M | ||
| Q2 25 | $-3.9M | $-7.8M | ||
| Q1 25 | $5.6M | $-3.0M | ||
| Q4 24 | $35.7M | $101.1M | ||
| Q3 24 | $20.8M | $-8.1M | ||
| Q2 24 | $6.8M | $9.1M |
自由现金流ASPNMBWM
| Q1 26 | — | — | ||
| Q4 25 | $13.7M | — | ||
| Q3 25 | $5.9M | — | ||
| Q2 25 | $-16.8M | — | ||
| Q1 25 | $-7.4M | — | ||
| Q4 24 | $20.9M | — | ||
| Q3 24 | $-50.0K | — | ||
| Q2 24 | $-18.0M | — |
自由现金流率ASPNMBWM
| Q1 26 | — | — | ||
| Q4 25 | 33.1% | — | ||
| Q3 25 | 8.1% | — | ||
| Q2 25 | -21.6% | — | ||
| Q1 25 | -9.4% | — | ||
| Q4 24 | 17.0% | — | ||
| Q3 24 | -0.0% | — | ||
| Q2 24 | -15.3% | — |
资本支出强度ASPNMBWM
| Q1 26 | — | — | ||
| Q4 25 | 6.0% | — | ||
| Q3 25 | 12.5% | — | ||
| Q2 25 | 16.5% | — | ||
| Q1 25 | 16.5% | — | ||
| Q4 24 | 12.0% | — | ||
| Q3 24 | 17.7% | — | ||
| Q2 24 | 21.1% | — |
现金转化率ASPNMBWM
| Q1 26 | — | — | ||
| Q4 25 | — | 0.79× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | -0.35× | ||
| Q1 25 | — | -0.15× | ||
| Q4 24 | 3.14× | 5.15× | ||
| Q3 24 | — | -0.41× | ||
| Q2 24 | 0.41× | 0.49× |
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
ASPN
| Energy Industrial | $14.5M | 35% |
| Other | $13.9M | 34% |
| Thermal Barrier | $12.9M | 31% |
MBWM
| Net Interest Income | $55.9M | 83% |
| Noninterest Income | $11.7M | 17% |
