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BRIGHT HORIZONS FAMILY SOLUTIONS INC.（BFAM）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BRIGHT HORIZONS FAMILY SOLUTIONS INC.的1.2倍（$862.2M vs $733.7M），BRIGHT HORIZONS FAMILY SOLUTIONS INC.同比增速更快（8.8% vs 4.3%），BRIGHT HORIZONS FAMILY SOLUTIONS INC.自由现金流更多（$258.5M vs $-88.1M），过去两年BRIGHT HORIZONS FAMILY SOLUTIONS INC.的营收复合增速更高（8.5% vs -10.6%）
Bright Horizons Family Solutions总部位于美国马萨诸塞州牛顿市，是美国规模最大的雇主赞助育儿服务运营商，除核心育儿服务外，还提供备用育儿、老人照护、学费项目管理、教育咨询、学生贷款偿还方案等多元服务，覆盖企业员工福利及教育支持领域。
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。
BFAM vs MAT — 直观对比
营收规模更大
MAT
是对方的1.2倍
$733.7M
营收增速更快
BFAM
高出4.5%
4.3%
自由现金流更多
BFAM
多$346.6M
$-88.1M
两年增速更快
BFAM
近两年复合增速
-10.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $733.7M | $862.2M |
| 净利润 | — | $61.0M |
| 毛利率 | 19.3% | 44.9% |
| 营业利润率 | 6.2% | — |
| 净利率 | — | 7.1% |
| 营收同比 | 8.8% | 4.3% |
| 净利润同比 | — | 251.4% |
| 每股收益（稀释后） | $0.38 | $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BFAMMAT
| Q1 26 | — | $862.2M | ||
| Q4 25 | $733.7M | $1.8B | ||
| Q3 25 | $802.8M | $1.7B | ||
| Q2 25 | $731.6M | $1.0B | ||
| Q1 25 | $665.5M | $826.6M | ||
| Q4 24 | $674.1M | $1.6B | ||
| Q3 24 | $719.1M | $1.8B | ||
| Q2 24 | $670.1M | $1.1B |
净利润BFAMMAT
| Q1 26 | — | $61.0M | ||
| Q4 25 | — | $106.2M | ||
| Q3 25 | $78.6M | $278.4M | ||
| Q2 25 | $54.8M | $53.4M | ||
| Q1 25 | $38.0M | $-40.3M | ||
| Q4 24 | — | $140.9M | ||
| Q3 24 | $54.9M | $372.4M | ||
| Q2 24 | $39.2M | $56.9M |
毛利率BFAMMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | 19.3% | 45.9% | ||
| Q3 25 | 27.0% | 50.0% | ||
| Q2 25 | 25.0% | 50.9% | ||
| Q1 25 | 23.4% | 49.4% | ||
| Q4 24 | 20.8% | 50.7% | ||
| Q3 24 | 25.2% | 53.1% | ||
| Q2 24 | 24.2% | 49.2% |
营业利润率BFAMMAT
| Q1 26 | — | — | ||
| Q4 25 | 6.2% | 8.0% | ||
| Q3 25 | 15.1% | 21.9% | ||
| Q2 25 | 11.8% | 7.7% | ||
| Q1 25 | 9.4% | -6.4% | ||
| Q4 24 | 7.2% | 9.6% | ||
| Q3 24 | 12.4% | 26.5% | ||
| Q2 24 | 10.3% | 7.7% |
净利率BFAMMAT
| Q1 26 | — | 7.1% | ||
| Q4 25 | — | 6.0% | ||
| Q3 25 | 9.8% | 16.0% | ||
| Q2 25 | 7.5% | 5.2% | ||
| Q1 25 | 5.7% | -4.9% | ||
| Q4 24 | — | 8.6% | ||
| Q3 24 | 7.6% | 20.2% | ||
| Q2 24 | 5.8% | 5.3% |
每股收益（稀释后）BFAMMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | $0.38 | $0.32 | ||
| Q3 25 | $1.37 | $0.88 | ||
| Q2 25 | $0.95 | $0.16 | ||
| Q1 25 | $0.66 | $-0.12 | ||
| Q4 24 | $0.50 | $0.40 | ||
| Q3 24 | $0.94 | $1.09 | ||
| Q2 24 | $0.67 | $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 | $140.1M | $866.0M |
| 总债务越低越好 | $747.6M | $2.3B |
| 股东权益账面价值 | $1.3B | $2.1B |
| 总资产 | $3.9B | $6.3B |
| 负债/权益比越低杠杆越低 | 0.56× | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资BFAMMAT
| Q1 26 | — | $866.0M | ||
| Q4 25 | $140.1M | $1.2B | ||
| Q3 25 | $116.6M | $691.9M | ||
| Q2 25 | $179.2M | $870.5M | ||
| Q1 25 | $112.0M | $1.2B | ||
| Q4 24 | $110.3M | $1.4B | ||
| Q3 24 | $109.9M | $723.5M | ||
| Q2 24 | $140.2M | $722.4M |
总债务BFAMMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | $747.6M | $2.3B | ||
| Q3 25 | $747.5M | $2.3B | ||
| Q2 25 | $797.0M | $2.3B | ||
| Q1 25 | $872.7M | $2.3B | ||
| Q4 24 | $918.4M | $2.3B | ||
| Q3 24 | $925.7M | $2.3B | ||
| Q2 24 | $931.9M | $2.3B |
股东权益BFAMMAT
| Q1 26 | — | $2.1B | ||
| Q4 25 | $1.3B | $2.2B | ||
| Q3 25 | $1.4B | $2.3B | ||
| Q2 25 | $1.4B | $2.2B | ||
| Q1 25 | $1.3B | $2.1B | ||
| Q4 24 | $1.3B | $2.3B | ||
| Q3 24 | $1.4B | $2.3B | ||
| Q2 24 | $1.3B | $2.0B |
总资产BFAMMAT
| Q1 26 | — | $6.3B | ||
| Q4 25 | $3.9B | $6.6B | ||
| Q3 25 | $3.9B | $6.6B | ||
| Q2 25 | $3.9B | $6.2B | ||
| Q1 25 | $3.8B | $6.2B | ||
| Q4 24 | $3.9B | $6.5B | ||
| Q3 24 | $3.9B | $6.5B | ||
| Q2 24 | $3.8B | $5.9B |
负债/权益比BFAMMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | 0.56× | 1.04× | ||
| Q3 25 | 0.52× | 1.03× | ||
| Q2 25 | 0.57× | 1.08× | ||
| Q1 25 | 0.66× | 1.10× | ||
| Q4 24 | 0.72× | 1.03× | ||
| Q3 24 | 0.66× | 1.01× | ||
| Q2 24 | 0.73× | 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 | $350.7M | — |
| 自由现金流经营现金流 - 资本支出 | $258.5M | $-88.1M |
| 自由现金流率自由现金流/营收 | 35.2% | -10.2% |
| 资本支出强度资本支出/营收 | 12.6% | 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 | $402.4M | — |
8季度趋势，按日历期对齐
经营现金流BFAMMAT
| Q1 26 | — | — | ||
| Q4 25 | $350.7M | $796.6M | ||
| Q3 25 | $-17.6M | $72.0M | ||
| Q2 25 | $134.2M | $-300.1M | ||
| Q1 25 | $86.2M | $24.8M | ||
| Q4 24 | $337.5M | $862.1M | ||
| Q3 24 | $-8.9M | $155.8M | ||
| Q2 24 | $109.4M | $-252.9M |
自由现金流BFAMMAT
| Q1 26 | — | $-88.1M | ||
| Q4 25 | $258.5M | — | ||
| Q3 25 | $-42.4M | — | ||
| Q2 25 | $115.4M | — | ||
| Q1 25 | $70.9M | — | ||
| Q4 24 | $240.2M | — | ||
| Q3 24 | $-32.2M | — | ||
| Q2 24 | $86.8M | — |
自由现金流率BFAMMAT
| Q1 26 | — | -10.2% | ||
| Q4 25 | 35.2% | — | ||
| Q3 25 | -5.3% | — | ||
| Q2 25 | 15.8% | — | ||
| Q1 25 | 10.7% | — | ||
| Q4 24 | 35.6% | — | ||
| Q3 24 | -4.5% | — | ||
| Q2 24 | 13.0% | — |
资本支出强度BFAMMAT
| Q1 26 | — | 7.6% | ||
| Q4 25 | 12.6% | — | ||
| Q3 25 | 3.1% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 2.3% | — | ||
| Q4 24 | 14.4% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 3.4% | — |
现金转化率BFAMMAT
| Q1 26 | — | — | ||
| Q4 25 | — | 7.50× | ||
| Q3 25 | -0.22× | 0.26× | ||
| Q2 25 | 2.45× | -5.62× | ||
| Q1 25 | 2.26× | — | ||
| Q4 24 | — | 6.12× | ||
| Q3 24 | -0.16× | 0.42× | ||
| Q2 24 | 2.79× | -4.45× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
