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CREDIT ACCEPTANCE CORP（CACC）与玛斯特锁（MBC）财务数据对比。点击上方公司名可切换其他公司
玛斯特锁的季度营收约是CREDIT ACCEPTANCE CORP的1.1倍（$644.6M vs $579.9M），CREDIT ACCEPTANCE CORP净利率更高（21.0% vs -6.5%，领先27.6%），CREDIT ACCEPTANCE CORP同比增速更快（2.5% vs -3.5%），CREDIT ACCEPTANCE CORP自由现金流更多（$268.9M vs $52.5M），过去两年CREDIT ACCEPTANCE CORP的营收复合增速更高（6.8% vs 0.5%）
Credit Acceptance是一家汽车金融服务提供商，主要提供汽车贷款及相关金融产品。公司通过覆盖全国的合作汽车经销商网络开展业务，设有“投资组合计划”和“采购计划”两大业务项目，可向汽车经销商提供资金，以此换取对应消费者贷款的后续服务权利。
玛斯特锁是美国知名安防产品供应商，1921年由锁匠发明家哈里·索雷夫创立，总部位于威斯康星州奥克里克，主营挂锁、密码锁、保险箱及相关安防产品，现为富俊创新集团旗下子公司，在全球安防锁具领域拥有较高的市场认可度。
CACC vs MBC — 直观对比
营收规模更大
MBC
是对方的1.1倍
$579.9M
营收增速更快
CACC
高出5.9%
-3.5%
净利率更高
CACC
高出27.6%
-6.5%
自由现金流更多
CACC
多$216.4M
$52.5M
两年增速更快
CACC
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $579.9M | $644.6M |
| 净利润 | $122.0M | $-42.0M |
| 毛利率 | — | 26.0% |
| 营业利润率 | 27.1% | -4.2% |
| 净利率 | 21.0% | -6.5% |
| 营收同比 | 2.5% | -3.5% |
| 净利润同比 | -19.7% | -400.0% |
| 每股收益（稀释后） | $10.87 | $-0.32 |
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CACCMBC
| Q4 25 | $579.9M | $644.6M | ||
| Q3 25 | $582.4M | $698.9M | ||
| Q2 25 | $583.8M | $730.9M | ||
| Q1 25 | $571.1M | $660.3M | ||
| Q4 24 | $565.9M | $667.7M | ||
| Q3 24 | $550.3M | $718.1M | ||
| Q2 24 | $538.2M | $676.5M | ||
| Q1 24 | $508.0M | $638.1M |
净利润CACCMBC
| Q4 25 | $122.0M | $-42.0M | ||
| Q3 25 | $108.2M | $18.1M | ||
| Q2 25 | $87.4M | $37.3M | ||
| Q1 25 | $106.3M | $13.3M | ||
| Q4 24 | $151.9M | $14.0M | ||
| Q3 24 | $78.8M | $29.1M | ||
| Q2 24 | $-47.1M | $45.3M | ||
| Q1 24 | $64.3M | $37.5M |
毛利率CACCMBC
| Q4 25 | — | 26.0% | ||
| Q3 25 | — | 31.2% | ||
| Q2 25 | — | 32.8% | ||
| Q1 25 | — | 30.6% | ||
| Q4 24 | — | 30.4% | ||
| Q3 24 | — | 33.1% | ||
| Q2 24 | — | 34.1% | ||
| Q1 24 | — | 32.1% |
营业利润率CACCMBC
| Q4 25 | 27.1% | -4.2% | ||
| Q3 25 | 25.6% | 6.0% | ||
| Q2 25 | 20.2% | 9.2% | ||
| Q1 25 | 24.8% | 5.6% | ||
| Q4 24 | 33.9% | 5.6% | ||
| Q3 24 | 19.4% | 8.0% | ||
| Q2 24 | -10.3% | 11.5% | ||
| Q1 24 | 17.0% | 9.8% |
净利率CACCMBC
| Q4 25 | 21.0% | -6.5% | ||
| Q3 25 | 18.6% | 2.6% | ||
| Q2 25 | 15.0% | 5.1% | ||
| Q1 25 | 18.6% | 2.0% | ||
| Q4 24 | 26.8% | 2.1% | ||
| Q3 24 | 14.3% | 4.1% | ||
| Q2 24 | -8.8% | 6.7% | ||
| Q1 24 | 12.7% | 5.9% |
每股收益（稀释后）CACCMBC
| Q4 25 | $10.87 | $-0.32 | ||
| Q3 25 | $9.43 | $0.14 | ||
| Q2 25 | $7.42 | $0.29 | ||
| Q1 25 | $8.66 | $0.10 | ||
| Q4 24 | $12.28 | $0.10 | ||
| Q3 24 | $6.35 | $0.22 | ||
| Q2 24 | $-3.83 | $0.35 | ||
| Q1 24 | $5.08 | $0.29 |
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 | $22.8M | $183.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $1.3B |
| 总资产 | $8.6B | $3.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CACCMBC
| Q4 25 | $22.8M | $183.3M | ||
| Q3 25 | $15.9M | $114.8M | ||
| Q2 25 | $70.0M | $120.1M | ||
| Q1 25 | $528.8M | $113.5M | ||
| Q4 24 | $343.7M | $120.6M | ||
| Q3 24 | $159.7M | $108.4M | ||
| Q2 24 | $8.3M | $189.4M | ||
| Q1 24 | $8.4M | $153.7M |
总债务CACCMBC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CACCMBC
| Q4 25 | $1.5B | $1.3B | ||
| Q3 25 | $1.6B | $1.4B | ||
| Q2 25 | $1.6B | $1.4B | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $1.7B | $1.3B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.6B | $1.3B | ||
| Q1 24 | $1.7B | $1.2B |
总资产CACCMBC
| Q4 25 | $8.6B | $3.1B | ||
| Q3 25 | $8.6B | $3.0B | ||
| Q2 25 | $8.7B | $3.0B | ||
| Q1 25 | $9.3B | $3.0B | ||
| Q4 24 | $8.9B | $2.9B | ||
| Q3 24 | $8.7B | $3.0B | ||
| Q2 24 | $8.3B | $2.4B | ||
| Q1 24 | $8.1B | $2.4B |
负债/权益比CACCMBC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.79× | ||
| Q3 24 | — | 0.83× | ||
| Q2 24 | — | — | ||
| Q1 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 | $269.3M | $86.9M |
| 自由现金流经营现金流 - 资本支出 | $268.9M | $52.5M |
| 自由现金流率自由现金流/营收 | 46.4% | 8.1% |
| 资本支出强度资本支出/营收 | 0.1% | 5.3% |
| 现金转化率经营现金流/净利润 | 2.21× | — |
| 过去12个月自由现金流最近4个季度 | $1.1B | $117.5M |
8季度趋势，按日历期对齐
经营现金流CACCMBC
| Q4 25 | $269.3M | $86.9M | ||
| Q3 25 | $299.4M | $55.4M | ||
| Q2 25 | $139.7M | $84.8M | ||
| Q1 25 | $346.2M | $-31.4M | ||
| Q4 24 | $306.2M | $115.1M | ||
| Q3 24 | $317.7M | $80.8M | ||
| Q2 24 | $204.0M | $77.4M | ||
| Q1 24 | $310.0M | $18.7M |
自由现金流CACCMBC
| Q4 25 | $268.9M | $52.5M | ||
| Q3 25 | $298.8M | $39.5M | ||
| Q2 25 | $139.4M | $66.7M | ||
| Q1 25 | $345.9M | $-41.2M | ||
| Q4 24 | $305.5M | $68.8M | ||
| Q3 24 | $317.3M | $64.5M | ||
| Q2 24 | $203.6M | $66.1M | ||
| Q1 24 | $309.7M | $11.7M |
自由现金流率CACCMBC
| Q4 25 | 46.4% | 8.1% | ||
| Q3 25 | 51.3% | 5.7% | ||
| Q2 25 | 23.9% | 9.1% | ||
| Q1 25 | 60.6% | -6.2% | ||
| Q4 24 | 54.0% | 10.3% | ||
| Q3 24 | 57.7% | 9.0% | ||
| Q2 24 | 37.8% | 9.8% | ||
| Q1 24 | 61.0% | 1.8% |
资本支出强度CACCMBC
| Q4 25 | 0.1% | 5.3% | ||
| Q3 25 | 0.1% | 2.3% | ||
| Q2 25 | 0.1% | 2.5% | ||
| Q1 25 | 0.1% | 1.5% | ||
| Q4 24 | 0.1% | 6.9% | ||
| Q3 24 | 0.1% | 2.3% | ||
| Q2 24 | 0.1% | 1.7% | ||
| Q1 24 | 0.1% | 1.1% |
现金转化率CACCMBC
| Q4 25 | 2.21× | — | ||
| Q3 25 | 2.77× | 3.06× | ||
| Q2 25 | 1.60× | 2.27× | ||
| Q1 25 | 3.26× | -2.36× | ||
| Q4 24 | 2.02× | 8.22× | ||
| Q3 24 | 4.03× | 2.78× | ||
| Q2 24 | — | 1.71× | ||
| Q1 24 | 4.82× | 0.50× |
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
CACC
| Loans Receivable | $553.0M | 95% |
| Other | $26.9M | 5% |
MBC
| Dealers | $345.7M | 54% |
| Retail | $220.0M | 34% |
| Builders | $78.9M | 12% |
