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TopBuild Corp（BLD）与Martin Marietta Materials（MLM）财务数据对比。点击上方公司名可切换其他公司
TopBuild Corp的季度营收约是Martin Marietta Materials的1.3倍（$1.5B vs $1.1B），Martin Marietta Materials净利率更高（24.5% vs 7.0%，领先17.4%），TopBuild Corp同比增速更快（13.2% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $159.4M），过去两年TopBuild Corp的营收复合增速更高（7.8% vs -4.5%）
HashiCorp是总部位于美国加利福尼亚州旧金山的软件企业，2012年由米切尔·桥本与阿蒙·达德加创立，采用免费增值商业模式，为开发、运维及安全从业人员提供云基础设施配置、防护、运行与连接相关的工具及产品。
马丁·玛丽埃塔材料公司是美国大型集料及重型建筑材料供应商，业务覆盖美国26个州、加拿大及加勒比地区，主要为道路、人行道、地基等各类基建项目提供所需原材料。
BLD vs MLM — 直观对比
营收规模更大
BLD
是对方的1.3倍
$1.1B
营收增速更快
BLD
高出43.3%
-30.1%
净利率更高
MLM
高出17.4%
7.0%
自由现金流更多
MLM
多$264.6M
$159.4M
两年增速更快
BLD
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.1B |
| 净利润 | $104.5M | $279.0M |
| 毛利率 | 27.2% | 35.0% |
| 营业利润率 | 12.1% | 24.6% |
| 净利率 | 7.0% | 24.5% |
| 营收同比 | 13.2% | -30.1% |
| 净利润同比 | -30.6% | -4.8% |
| 每股收益（稀释后） | $3.69 | $4.59 |
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BLDMLM
| Q4 25 | $1.5B | $1.1B | ||
| Q3 25 | $1.4B | $1.8B | ||
| Q2 25 | $1.3B | $1.8B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.3B | $1.6B | ||
| Q3 24 | $1.4B | $1.9B | ||
| Q2 24 | $1.4B | $1.8B | ||
| Q1 24 | $1.3B | $1.3B |
净利润BLDMLM
| Q4 25 | $104.5M | $279.0M | ||
| Q3 25 | $142.2M | $414.0M | ||
| Q2 25 | $151.6M | $328.0M | ||
| Q1 25 | $123.4M | $116.0M | ||
| Q4 24 | $150.5M | $293.0M | ||
| Q3 24 | $169.0M | $363.0M | ||
| Q2 24 | $150.7M | $294.0M | ||
| Q1 24 | $152.4M | $1.0B |
毛利率BLDMLM
| Q4 25 | 27.2% | 35.0% | ||
| Q3 25 | 30.1% | 33.1% | ||
| Q2 25 | 30.4% | 30.0% | ||
| Q1 25 | 28.5% | 24.8% | ||
| Q4 24 | 29.9% | 30.0% | ||
| Q3 24 | 30.7% | 31.7% | ||
| Q2 24 | 31.0% | 29.3% | ||
| Q1 24 | 30.3% | 21.7% |
营业利润率BLDMLM
| Q4 25 | 12.1% | 24.6% | ||
| Q3 25 | 15.4% | 27.4% | ||
| Q2 25 | 16.9% | 25.3% | ||
| Q1 25 | 14.4% | 14.3% | ||
| Q4 24 | 16.6% | 24.4% | ||
| Q3 24 | 17.8% | 25.9% | ||
| Q2 24 | 15.4% | 22.6% | ||
| Q1 24 | 16.8% | — |
净利率BLDMLM
| Q4 25 | 7.0% | 24.5% | ||
| Q3 25 | 10.2% | 22.4% | ||
| Q2 25 | 11.7% | 18.1% | ||
| Q1 25 | 10.0% | 8.6% | ||
| Q4 24 | 11.5% | 18.0% | ||
| Q3 24 | 12.3% | 19.2% | ||
| Q2 24 | 11.0% | 16.7% | ||
| Q1 24 | 11.9% | 83.5% |
每股收益（稀释后）BLDMLM
| Q4 25 | $3.69 | $4.59 | ||
| Q3 25 | $5.04 | $6.85 | ||
| Q2 25 | $5.32 | $5.43 | ||
| Q1 25 | $4.23 | $1.90 | ||
| Q4 24 | $5.07 | $4.87 | ||
| Q3 24 | $5.65 | $5.91 | ||
| Q2 24 | $4.78 | $4.76 | ||
| Q1 24 | $4.79 | $16.87 |
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 | $184.7M | $67.0M |
| 总债务越低越好 | $2.8B | $5.3B |
| 股东权益账面价值 | $2.3B | $10.0B |
| 总资产 | $6.6B | $18.7B |
| 负债/权益比越低杠杆越低 | 1.23× | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资BLDMLM
| Q4 25 | $184.7M | $67.0M | ||
| Q3 25 | $1.1B | $57.0M | ||
| Q2 25 | $842.5M | $225.0M | ||
| Q1 25 | $308.8M | $101.0M | ||
| Q4 24 | $400.3M | $670.0M | ||
| Q3 24 | $257.3M | $52.0M | ||
| Q2 24 | $463.2M | $109.0M | ||
| Q1 24 | $968.8M | $2.6B |
总债务BLDMLM
| Q4 25 | $2.8B | $5.3B | ||
| Q3 25 | $2.9B | $5.5B | ||
| Q2 25 | $1.9B | $5.4B | ||
| Q1 25 | $1.4B | $5.4B | ||
| Q4 24 | $1.4B | $5.4B | ||
| Q3 24 | $1.4B | $4.0B | ||
| Q2 24 | $1.4B | $4.3B | ||
| Q1 24 | $1.4B | $4.3B |
股东权益BLDMLM
| Q4 25 | $2.3B | $10.0B | ||
| Q3 25 | $2.2B | $9.7B | ||
| Q2 25 | $2.1B | $9.4B | ||
| Q1 25 | $2.1B | $9.1B | ||
| Q4 24 | $2.2B | $9.5B | ||
| Q3 24 | $2.1B | $9.2B | ||
| Q2 24 | $2.4B | $8.8B | ||
| Q1 24 | $2.7B | $8.9B |
总资产BLDMLM
| Q4 25 | $6.6B | $18.7B | ||
| Q3 25 | $6.4B | $18.7B | ||
| Q2 25 | $5.1B | $18.1B | ||
| Q1 25 | $4.6B | $17.7B | ||
| Q4 24 | $4.7B | $18.2B | ||
| Q3 24 | $4.7B | $16.5B | ||
| Q2 24 | $4.9B | $16.3B | ||
| Q1 24 | $5.3B | $16.2B |
负债/权益比BLDMLM
| Q4 25 | 1.23× | 0.53× | ||
| Q3 25 | 1.29× | 0.57× | ||
| Q2 25 | 0.88× | 0.58× | ||
| Q1 25 | 0.65× | 0.60× | ||
| Q4 24 | 0.62× | 0.57× | ||
| Q3 24 | 0.66× | 0.44× | ||
| Q2 24 | 0.59× | 0.49× | ||
| Q1 24 | 0.52× | 0.49× |
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 | $176.7M | $629.0M |
| 自由现金流经营现金流 - 资本支出 | $159.4M | $424.0M |
| 自由现金流率自由现金流/营收 | 10.7% | 37.2% |
| 资本支出强度资本支出/营收 | 1.2% | 18.0% |
| 现金转化率经营现金流/净利润 | 1.69× | 2.25× |
| 过去12个月自由现金流最近4个季度 | $696.9M | $978.0M |
8季度趋势，按日历期对齐
经营现金流BLDMLM
| Q4 25 | $176.7M | $629.0M | ||
| Q3 25 | $233.3M | $551.0M | ||
| Q2 25 | $193.7M | $387.0M | ||
| Q1 25 | $152.6M | $218.0M | ||
| Q4 24 | $266.2M | $686.0M | ||
| Q3 24 | $240.7M | $600.0M | ||
| Q2 24 | $90.4M | $1.0M | ||
| Q1 24 | $178.8M | $172.0M |
自由现金流BLDMLM
| Q4 25 | $159.4M | $424.0M | ||
| Q3 25 | $216.2M | $361.0M | ||
| Q2 25 | $182.2M | $208.0M | ||
| Q1 25 | $139.2M | $-15.0M | ||
| Q4 24 | $253.7M | $453.0M | ||
| Q3 24 | $219.8M | $317.0M | ||
| Q2 24 | $74.3M | $-138.0M | ||
| Q1 24 | $158.9M | $-28.0M |
自由现金流率BLDMLM
| Q4 25 | 10.7% | 37.2% | ||
| Q3 25 | 15.5% | 19.6% | ||
| Q2 25 | 14.0% | 11.5% | ||
| Q1 25 | 11.3% | -1.1% | ||
| Q4 24 | 19.3% | 27.8% | ||
| Q3 24 | 16.0% | 16.8% | ||
| Q2 24 | 5.4% | -7.8% | ||
| Q1 24 | 12.4% | -2.2% |
资本支出强度BLDMLM
| Q4 25 | 1.2% | 18.0% | ||
| Q3 25 | 1.2% | 10.3% | ||
| Q2 25 | 0.9% | 9.9% | ||
| Q1 25 | 1.1% | 17.2% | ||
| Q4 24 | 1.0% | 14.3% | ||
| Q3 24 | 1.5% | 15.0% | ||
| Q2 24 | 1.2% | 7.9% | ||
| Q1 24 | 1.6% | 16.0% |
现金转化率BLDMLM
| Q4 25 | 1.69× | 2.25× | ||
| Q3 25 | 1.64× | 1.33× | ||
| Q2 25 | 1.28× | 1.18× | ||
| Q1 25 | 1.24× | 1.88× | ||
| Q4 24 | 1.77× | 2.34× | ||
| Q3 24 | 1.42× | 1.65× | ||
| Q2 24 | 0.60× | 0.00× | ||
| Q1 24 | 1.17× | 0.16× |
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
BLD
| Distribution Segment | $755.4M | 51% |
| Residential | $557.9M | 38% |
| All Other Products | $91.9M | 6% |
| Glass And Windows | $51.5M | 3% |
| Rain Gutters | $27.1M | 2% |
MLM
| Building Materials Business East Group | $774.0M | 68% |
| Building Materials Business West Group | $233.0M | 20% |
| Services | $88.0M | 8% |
| Other | $45.0M | 4% |
