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PATHWARD FINANCIAL, INC.（CASH）与MARTIN MIDSTREAM PARTNERS L.P.（MMLP）财务数据对比。点击上方公司名可切换其他公司
PATHWARD FINANCIAL, INC.的季度营收约是MARTIN MIDSTREAM PARTNERS L.P.的1.5倍（$276.3M vs $187.7M），PATHWARD FINANCIAL, INC.净利率更高（26.4% vs 1.7%，领先24.7%），过去两年PATHWARD FINANCIAL, INC.的营收复合增速更高（21.0% vs 0.8%）
Pathward Financial, Inc.是一家总部位于美国的银行及金融服务企业，其前身为Meta金融集团旗下相关业务主体，2022年母公司将“Meta”商标出售给Meta Platforms后，正式启用现有名称。
Martin Midstream Partners L.P.是美国中游能源服务提供商，主营原油、天然气液、精炼石油产品及特种化学品的存储、运输、分销与加工服务，主要服务北美能源及工业领域客户。
CASH vs MMLP — 直观对比
营收规模更大
CASH
是对方的1.5倍
$187.7M
净利率更高
CASH
高出24.7%
1.7%
两年增速更快
CASH
近两年复合增速
0.8%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $276.3M | $187.7M |
| 净利润 | $72.9M | $3.2M |
| 毛利率 | — | — |
| 营业利润率 | — | 4.1% |
| 净利率 | 26.4% | 1.7% |
| 营收同比 | — | -2.5% |
| 净利润同比 | — | -37.1% |
| 每股收益（稀释后） | $3.35 | — |
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CASHMMLP
| Q1 26 | $276.3M | $187.7M | ||
| Q4 25 | $173.1M | $174.2M | ||
| Q3 25 | $186.7M | $168.7M | ||
| Q2 25 | $195.8M | $180.7M | ||
| Q1 25 | $274.8M | $192.5M | ||
| Q4 24 | $182.6M | $171.3M | ||
| Q3 24 | $179.5M | $170.9M | ||
| Q2 24 | $188.6M | $184.5M |
净利润CASHMMLP
| Q1 26 | $72.9M | $3.2M | ||
| Q4 25 | $35.2M | $-2.9M | ||
| Q3 25 | $38.8M | $-8.4M | ||
| Q2 25 | $42.1M | $-2.4M | ||
| Q1 25 | $75.0M | $-1.0M | ||
| Q4 24 | $30.0M | $-8.9M | ||
| Q3 24 | $33.5M | $-3.3M | ||
| Q2 24 | $44.9M | $3.8M |
毛利率CASHMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | 57.1% | ||
| Q3 25 | — | 55.1% | ||
| Q2 25 | — | 56.5% | ||
| Q1 25 | — | 53.5% | ||
| Q4 24 | — | 58.2% | ||
| Q3 24 | — | 58.5% | ||
| Q2 24 | — | 58.4% |
营业利润率CASHMMLP
| Q1 26 | — | 4.1% | ||
| Q4 25 | 24.6% | 7.3% | ||
| Q3 25 | 25.9% | 4.1% | ||
| Q2 25 | 24.1% | 8.2% | ||
| Q1 25 | 33.2% | 7.5% | ||
| Q4 24 | 19.8% | 4.0% | ||
| Q3 24 | 20.9% | 7.4% | ||
| Q2 24 | 27.1% | 10.8% |
净利率CASHMMLP
| Q1 26 | 26.4% | 1.7% | ||
| Q4 25 | 20.3% | -1.7% | ||
| Q3 25 | 20.8% | -5.0% | ||
| Q2 25 | 21.5% | -1.3% | ||
| Q1 25 | 27.3% | -0.5% | ||
| Q4 24 | 16.4% | -5.2% | ||
| Q3 24 | 18.7% | -1.9% | ||
| Q2 24 | 23.8% | 2.0% |
每股收益（稀释后）CASHMMLP
| Q1 26 | $3.35 | — | ||
| Q4 25 | $1.57 | — | ||
| Q3 25 | $1.69 | — | ||
| Q2 25 | $1.81 | — | ||
| Q1 25 | $3.14 | — | ||
| Q4 24 | $1.23 | — | ||
| Q3 24 | $1.34 | — | ||
| Q2 24 | $1.78 | — |
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 | $157.6M | — |
| 总债务越低越好 | $59.5M | — |
| 股东权益账面价值 | $850.7M | — |
| 总资产 | $7.1B | $537.1M |
| 负债/权益比越低杠杆越低 | 0.07× | — |
8季度趋势，按日历期对齐
现金及短期投资CASHMMLP
| Q1 26 | $157.6M | — | ||
| Q4 25 | $331.2M | — | ||
| Q3 25 | $120.6M | — | ||
| Q2 25 | $258.3M | — | ||
| Q1 25 | $254.2M | — | ||
| Q4 24 | $597.4M | — | ||
| Q3 24 | $158.3M | — | ||
| Q2 24 | $298.9M | — |
总债务CASHMMLP
| Q1 26 | $59.5M | — | ||
| Q4 25 | $33.5M | $428.0M | ||
| Q3 25 | $33.5M | $441.3M | ||
| Q2 25 | $33.4M | $427.8M | ||
| Q1 25 | $33.4M | $451.4M | ||
| Q4 24 | $33.4M | $437.6M | ||
| Q3 24 | $33.4M | $469.3M | ||
| Q2 24 | $33.3M | $439.4M |
股东权益CASHMMLP
| Q1 26 | $850.7M | — | ||
| Q4 25 | $854.5M | — | ||
| Q3 25 | $858.0M | — | ||
| Q2 25 | $819.0M | — | ||
| Q1 25 | $814.7M | — | ||
| Q4 24 | $758.3M | — | ||
| Q3 24 | $822.5M | — | ||
| Q2 24 | $748.4M | — |
总资产CASHMMLP
| Q1 26 | $7.1B | $537.1M | ||
| Q4 25 | $7.6B | $522.4M | ||
| Q3 25 | $7.2B | $510.1M | ||
| Q2 25 | $7.2B | $515.6M | ||
| Q1 25 | $7.0B | $533.4M | ||
| Q4 24 | $7.6B | $538.5M | ||
| Q3 24 | $7.5B | $554.8M | ||
| Q2 24 | $7.5B | $535.1M |
负债/权益比CASHMMLP
| Q1 26 | 0.07× | — | ||
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.04× | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.04× | — |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | — | $-6.0M |
| 自由现金流率自由现金流/营收 | — | -3.2% |
| 资本支出强度资本支出/营收 | — | 1.6% |
| 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 | — | $27.2M |
8季度趋势，按日历期对齐
经营现金流CASHMMLP
| Q1 26 | — | — | ||
| Q4 25 | $108.3M | $22.4M | ||
| Q3 25 | $303.7M | $-1.2M | ||
| Q2 25 | $30.4M | $30.9M | ||
| Q1 25 | $188.3M | $-6.0M | ||
| Q4 24 | $-71.7M | $42.2M | ||
| Q3 24 | $143.1M | $-15.8M | ||
| Q2 24 | $113.2M | $11.8M |
自由现金流CASHMMLP
| Q1 26 | — | $-6.0M | ||
| Q4 25 | $104.1M | $15.6M | ||
| Q3 25 | $300.3M | $-7.9M | ||
| Q2 25 | $27.7M | $25.6M | ||
| Q1 25 | $184.7M | $-11.9M | ||
| Q4 24 | $-73.8M | $34.2M | ||
| Q3 24 | $138.8M | $-25.6M | ||
| Q2 24 | $111.0M | $-696.0K |
自由现金流率CASHMMLP
| Q1 26 | — | -3.2% | ||
| Q4 25 | 60.1% | 8.9% | ||
| Q3 25 | 160.9% | -4.7% | ||
| Q2 25 | 14.1% | 14.2% | ||
| Q1 25 | 67.2% | -6.2% | ||
| Q4 24 | -40.4% | 20.0% | ||
| Q3 24 | 77.3% | -15.0% | ||
| Q2 24 | 58.8% | -0.4% |
资本支出强度CASHMMLP
| Q1 26 | — | 1.6% | ||
| Q4 25 | 2.4% | 3.9% | ||
| Q3 25 | 1.8% | 4.0% | ||
| Q2 25 | 1.4% | 3.0% | ||
| Q1 25 | 1.3% | 3.1% | ||
| Q4 24 | 1.1% | 4.6% | ||
| Q3 24 | 2.4% | 5.8% | ||
| Q2 24 | 1.2% | 6.8% |
现金转化率CASHMMLP
| Q1 26 | — | — | ||
| Q4 25 | 3.08× | — | ||
| Q3 25 | 7.83× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 2.51× | — | ||
| Q4 24 | -2.39× | — | ||
| Q3 24 | 4.27× | — | ||
| Q2 24 | 2.52× | 3.13× |
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
CASH
| Noninterest Income | $151.2M | 55% |
| Net Interest Income | $125.1M | 45% |
MMLP
| Specialty products | $61.6M | 33% |
| Transportation * | $52.8M | 28% |
| Other | $46.5M | 25% |
| Terminalling and storage * | $22.4M | 12% |
| Sulfur services | $4.4M | 2% |
