vs
AMERICAN STATES WATER CO（AWR）与MARCUS CORP（MCS）财务数据对比。点击上方公司名可切换其他公司
MARCUS CORP的季度营收约是AMERICAN STATES WATER CO的1.2倍（$193.5M vs $164.3M），AMERICAN STATES WATER CO同比增速更快（14.8% vs 2.8%），MARCUS CORP自由现金流更多（$26.4M vs $-36.0M），过去两年MARCUS CORP的营收复合增速更高（18.2% vs 10.2%）
美国州水公司是美国的上市公用事业企业，通过旗下子公司在全美范围内提供自来水供应及污水处理相关服务，服务覆盖居民、商业及公共机构等多元客户群体，是当地水务服务领域的重要参与企业。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
AWR vs MCS — 直观对比
营收规模更大
MCS
是对方的1.2倍
$164.3M
营收增速更快
AWR
高出12.0%
2.8%
自由现金流更多
MCS
多$62.4M
$-36.0M
两年增速更快
MCS
近两年复合增速
10.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $164.3M | $193.5M |
| 净利润 | $28.7M | — |
| 毛利率 | 88.9% | — |
| 营业利润率 | 27.4% | 0.9% |
| 净利率 | 17.5% | — |
| 营收同比 | 14.8% | 2.8% |
| 净利润同比 | 1.1% | — |
| 每股收益（稀释后） | $0.74 | — |
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AWRMCS
| Q4 25 | $164.3M | $193.5M | ||
| Q3 25 | $182.7M | $210.2M | ||
| Q2 25 | $163.1M | $206.0M | ||
| Q1 25 | $148.0M | $148.8M | ||
| Q4 24 | $143.1M | $188.3M | ||
| Q3 24 | $161.8M | $232.7M | ||
| Q2 24 | $155.3M | $176.0M | ||
| Q1 24 | $135.3M | $138.5M |
净利润AWRMCS
| Q4 25 | $28.7M | — | ||
| Q3 25 | $41.2M | $16.2M | ||
| Q2 25 | $33.7M | $7.3M | ||
| Q1 25 | $26.8M | $-16.8M | ||
| Q4 24 | $28.4M | $986.0K | ||
| Q3 24 | $35.8M | $23.3M | ||
| Q2 24 | $31.9M | $-20.2M | ||
| Q1 24 | $23.1M | $-11.9M |
毛利率AWRMCS
| Q4 25 | 88.9% | — | ||
| Q3 25 | 91.0% | — | ||
| Q2 25 | 92.1% | — | ||
| Q1 25 | 91.3% | — | ||
| Q4 24 | 92.4% | — | ||
| Q3 24 | 92.7% | — | ||
| Q2 24 | 89.6% | — | ||
| Q1 24 | 88.4% | — |
营业利润率AWRMCS
| Q4 25 | 27.4% | 0.9% | ||
| Q3 25 | 33.8% | 10.8% | ||
| Q2 25 | 31.3% | 6.3% | ||
| Q1 25 | 30.8% | -13.7% | ||
| Q4 24 | 27.0% | -1.2% | ||
| Q3 24 | 34.0% | 14.1% | ||
| Q2 24 | 33.3% | 1.3% | ||
| Q1 24 | 28.8% | -12.0% |
净利率AWRMCS
| Q4 25 | 17.5% | — | ||
| Q3 25 | 22.5% | 7.7% | ||
| Q2 25 | 20.7% | 3.6% | ||
| Q1 25 | 18.1% | -11.3% | ||
| Q4 24 | 19.9% | 0.5% | ||
| Q3 24 | 22.1% | 10.0% | ||
| Q2 24 | 20.5% | -11.5% | ||
| Q1 24 | 17.1% | -8.6% |
每股收益（稀释后）AWRMCS
| Q4 25 | $0.74 | — | ||
| Q3 25 | $1.06 | — | ||
| Q2 25 | $0.87 | — | ||
| Q1 25 | $0.70 | — | ||
| Q4 24 | $0.75 | — | ||
| Q3 24 | $0.95 | — | ||
| Q2 24 | $0.85 | — | ||
| Q1 24 | $0.62 | — |
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 | $18.8M | $23.4M |
| 总债务越低越好 | $782.7M | $159.0M |
| 股东权益账面价值 | $1.0B | $457.4M |
| 总资产 | $2.7B | $1.0B |
| 负债/权益比越低杠杆越低 | 0.75× | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资AWRMCS
| Q4 25 | $18.8M | $23.4M | ||
| Q3 25 | $26.1M | $7.4M | ||
| Q2 25 | $20.2M | $14.9M | ||
| Q1 25 | $21.2M | $11.9M | ||
| Q4 24 | $26.7M | $40.8M | ||
| Q3 24 | $16.5M | $28.4M | ||
| Q2 24 | $3.6M | $32.8M | ||
| Q1 24 | $17.0M | $17.3M |
总债务AWRMCS
| Q4 25 | $782.7M | $159.0M | ||
| Q3 25 | — | $162.0M | ||
| Q2 25 | — | $179.9M | ||
| Q1 25 | — | $198.9M | ||
| Q4 24 | $640.4M | $159.1M | ||
| Q3 24 | — | $173.1M | ||
| Q2 24 | — | $175.7M | ||
| Q1 24 | — | $169.8M |
股东权益AWRMCS
| Q4 25 | $1.0B | $457.4M | ||
| Q3 25 | $1.0B | $454.3M | ||
| Q2 25 | $972.5M | $448.4M | ||
| Q1 25 | $956.4M | $441.8M | ||
| Q4 24 | $920.1M | $464.9M | ||
| Q3 24 | $879.5M | $462.3M | ||
| Q2 24 | $833.5M | $449.4M | ||
| Q1 24 | $800.5M | $459.3M |
总资产AWRMCS
| Q4 25 | $2.7B | $1.0B | ||
| Q3 25 | $2.7B | $1.0B | ||
| Q2 25 | $2.6B | $1.0B | ||
| Q1 25 | $2.5B | $1.0B | ||
| Q4 24 | $2.5B | $1.0B | ||
| Q3 24 | $2.4B | $1.0B | ||
| Q2 24 | $2.3B | $1.1B | ||
| Q1 24 | $2.3B | $1.0B |
负债/权益比AWRMCS
| Q4 25 | 0.75× | 0.35× | ||
| Q3 25 | — | 0.36× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | 0.70× | 0.34× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.39× | ||
| Q1 24 | — | 0.37× |
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 | $27.7M | $48.8M |
| 自由现金流经营现金流 - 资本支出 | $-36.0M | $26.4M |
| 自由现金流率自由现金流/营收 | -21.9% | 13.6% |
| 资本支出强度资本支出/营收 | 38.8% | 11.6% |
| 现金转化率经营现金流/净利润 | 0.96× | — |
| 过去12个月自由现金流最近4个季度 | $-7.1M | $989.0K |
8季度趋势，按日历期对齐
经营现金流AWRMCS
| Q4 25 | $27.7M | $48.8M | ||
| Q3 25 | $92.4M | $39.1M | ||
| Q2 25 | $64.6M | $31.6M | ||
| Q1 25 | $45.1M | $-35.3M | ||
| Q4 24 | $64.5M | $52.6M | ||
| Q3 24 | $63.7M | $30.5M | ||
| Q2 24 | $24.7M | $36.0M | ||
| Q1 24 | $45.8M | $-15.1M |
自由现金流AWRMCS
| Q4 25 | $-36.0M | $26.4M | ||
| Q3 25 | $37.7M | $18.2M | ||
| Q2 25 | $13.7M | $14.7M | ||
| Q1 25 | $-22.5M | $-58.3M | ||
| Q4 24 | $6.0M | $27.1M | ||
| Q3 24 | $-478.0K | $12.0M | ||
| Q2 24 | $-37.0M | $16.1M | ||
| Q1 24 | $-1.7M | $-30.5M |
自由现金流率AWRMCS
| Q4 25 | -21.9% | 13.6% | ||
| Q3 25 | 20.7% | 8.7% | ||
| Q2 25 | 8.4% | 7.1% | ||
| Q1 25 | -15.2% | -39.2% | ||
| Q4 24 | 4.2% | 14.4% | ||
| Q3 24 | -0.3% | 5.2% | ||
| Q2 24 | -23.8% | 9.2% | ||
| Q1 24 | -1.3% | -22.0% |
资本支出强度AWRMCS
| Q4 25 | 38.8% | 11.6% | ||
| Q3 25 | 29.9% | 9.9% | ||
| Q2 25 | 31.2% | 8.2% | ||
| Q1 25 | 45.6% | 15.5% | ||
| Q4 24 | 40.9% | 13.5% | ||
| Q3 24 | 39.7% | 7.9% | ||
| Q2 24 | 39.8% | 11.3% | ||
| Q1 24 | 35.2% | 11.1% |
现金转化率AWRMCS
| Q4 25 | 0.96× | — | ||
| Q3 25 | 2.24× | 2.41× | ||
| Q2 25 | 1.92× | 4.32× | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 2.27× | 53.31× | ||
| Q3 24 | 1.78× | 1.31× | ||
| Q2 24 | 0.78× | — | ||
| Q1 24 | 1.98× | — |
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
AWR
| Water Service Utility Operations | $110.0M | 67% |
| Public Utilities Inventory Water | $22.3M | 14% |
| Wastewater | $15.9M | 10% |
| Electric Service Utility Operations | $15.2M | 9% |
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
