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CBAK Energy Technology, Inc.（CBAT）与MP Materials Corp.（MP）财务数据对比。点击上方公司名可切换其他公司
MP Materials Corp.的季度营收约是CBAK Energy Technology, Inc.的1.5倍（$90.6M vs $58.8M），MP Materials Corp.净利率更高（-8.8% vs -12.5%，领先3.8%），CBAK Energy Technology, Inc.同比增速更快（131.8% vs 49.1%），过去两年MP Materials Corp.的营收复合增速更高（70.3% vs -0.0%）
CBAK能源科技是一家专业从事锂离子电池研发、生产与销售的企业，产品涵盖高性能电芯、模组及电池包，主要服务新能源汽车、储能系统、消费电子等核心领域，业务覆盖中国及全球多个市场。
MP Materials Corp.是总部位于美国的稀土材料生产商，拥有并运营加利福尼亚州芒廷帕斯矿，这是西半球唯一在产的稀土开采及加工设施，所产核心材料可广泛应用于电动汽车、风力发电机、国防工业等多个关键领域。
CBAT vs MP — 直观对比
营收规模更大
MP
是对方的1.5倍
$58.8M
营收增速更快
CBAT
高出82.7%
49.1%
净利率更高
MP
高出3.8%
-12.5%
两年增速更快
MP
近两年复合增速
-0.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $58.8M | $90.6M |
| 净利润 | $-7.4M | $-8.0M |
| 毛利率 | 7.3% | — |
| 营业利润率 | -13.6% | — |
| 净利率 | -12.5% | -8.8% |
| 营收同比 | 131.8% | 49.1% |
| 净利润同比 | -63.6% | 64.8% |
| 每股收益（稀释后） | $-0.08 | $-0.04 |
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CBATMP
| Q1 26 | — | $90.6M | ||
| Q4 25 | $58.8M | $52.7M | ||
| Q3 25 | $60.9M | $53.6M | ||
| Q2 25 | $40.5M | $57.4M | ||
| Q1 25 | $34.9M | $60.8M | ||
| Q4 24 | $25.4M | $61.0M | ||
| Q3 24 | $44.6M | $62.9M | ||
| Q2 24 | $47.8M | $31.3M |
净利润CBATMP
| Q1 26 | — | $-8.0M | ||
| Q4 25 | $-7.4M | $9.4M | ||
| Q3 25 | $2.7M | $-41.8M | ||
| Q2 25 | $-3.1M | $-30.9M | ||
| Q1 25 | $-1.6M | $-22.6M | ||
| Q4 24 | $-4.5M | $-22.3M | ||
| Q3 24 | $17.6K | $-25.5M | ||
| Q2 24 | $6.4M | $-34.1M |
毛利率CBATMP
| Q1 26 | — | — | ||
| Q4 25 | 7.3% | — | ||
| Q3 25 | 8.0% | — | ||
| Q2 25 | 11.0% | — | ||
| Q1 25 | 13.7% | — | ||
| Q4 24 | 13.1% | — | ||
| Q3 24 | 15.6% | — | ||
| Q2 24 | 26.6% | — |
营业利润率CBATMP
| Q1 26 | — | — | ||
| Q4 25 | -13.6% | -7.0% | ||
| Q3 25 | -6.6% | -125.2% | ||
| Q2 25 | -8.7% | -76.5% | ||
| Q1 25 | -8.2% | -57.2% | ||
| Q4 24 | -26.0% | -72.1% | ||
| Q3 24 | -1.9% | -62.8% | ||
| Q2 24 | 12.4% | -171.1% |
净利率CBATMP
| Q1 26 | — | -8.8% | ||
| Q4 25 | -12.5% | 17.9% | ||
| Q3 25 | 4.4% | -78.0% | ||
| Q2 25 | -7.6% | -53.8% | ||
| Q1 25 | -4.5% | -37.2% | ||
| Q4 24 | -17.8% | -36.6% | ||
| Q3 24 | 0.0% | -40.5% | ||
| Q2 24 | 13.5% | -108.9% |
每股收益（稀释后）CBATMP
| Q1 26 | — | $-0.04 | ||
| Q4 25 | $-0.08 | $0.07 | ||
| Q3 25 | $0.03 | $-0.24 | ||
| Q2 25 | $-0.03 | $-0.19 | ||
| Q1 25 | $-0.02 | $-0.14 | ||
| Q4 24 | $-0.05 | $-0.12 | ||
| Q3 24 | $0.00 | $-0.16 | ||
| Q2 24 | $0.07 | $-0.21 |
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 | $8.3M | $1.7B |
| 总债务越低越好 | $4.1M | $1.0B |
| 股东权益账面价值 | $112.7M | $2.0B |
| 总资产 | $426.2M | $3.8B |
| 负债/权益比越低杠杆越低 | 0.04× | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资CBATMP
| Q1 26 | — | $1.7B | ||
| Q4 25 | $8.3M | $1.2B | ||
| Q3 25 | $10.5M | $1.1B | ||
| Q2 25 | $45.7M | $261.5M | ||
| Q1 25 | $9.6M | $198.3M | ||
| Q4 24 | $11.0M | $282.4M | ||
| Q3 24 | $24.2M | $284.4M | ||
| Q2 24 | $44.1M | $295.6M |
总债务CBATMP
| Q1 26 | — | $1.0B | ||
| Q4 25 | $4.1M | $998.7M | ||
| Q3 25 | $4.8M | $997.3M | ||
| Q2 25 | $4.9M | $910.8M | ||
| Q1 25 | $4.1M | $909.8M | ||
| Q4 24 | — | $908.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CBATMP
| Q1 26 | — | $2.0B | ||
| Q4 25 | $112.7M | $2.0B | ||
| Q3 25 | $121.4M | $2.0B | ||
| Q2 25 | $118.2M | $1.0B | ||
| Q1 25 | $120.8M | $1.0B | ||
| Q4 24 | $121.7M | $1.1B | ||
| Q3 24 | $131.2M | $1.1B | ||
| Q2 24 | $126.6M | $1.1B |
总资产CBATMP
| Q1 26 | — | $3.8B | ||
| Q4 25 | $426.2M | $3.9B | ||
| Q3 25 | $363.9M | $3.8B | ||
| Q2 25 | $333.1M | $2.3B | ||
| Q1 25 | $311.5M | $2.4B | ||
| Q4 24 | $302.2M | $2.3B | ||
| Q3 24 | $293.5M | $2.3B | ||
| Q2 24 | $279.6M | $2.4B |
负债/权益比CBATMP
| Q1 26 | — | 0.51× | ||
| Q4 25 | 0.04× | 0.50× | ||
| Q3 25 | 0.04× | 0.51× | ||
| Q2 25 | 0.04× | 0.90× | ||
| Q1 25 | 0.03× | 0.88× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | — | ||
| Q2 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 | $29.8M | $-1.9M |
| 自由现金流经营现金流 - 资本支出 | $16.1M | — |
| 自由现金流率自由现金流/营收 | 27.3% | — |
| 资本支出强度资本支出/营收 | 23.4% | — |
| 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 | $3.9M | — |
8季度趋势，按日历期对齐
经营现金流CBATMP
| Q1 26 | — | $-1.9M | ||
| Q4 25 | $29.8M | $-46.9M | ||
| Q3 25 | $14.6M | $-42.0M | ||
| Q2 25 | $13.8M | $-3.7M | ||
| Q1 25 | $-9.6M | $-63.2M | ||
| Q4 24 | $9.6M | $30.5M | ||
| Q3 24 | $19.7M | $-6.8M | ||
| Q2 24 | $2.9M | $30.8M |
自由现金流CBATMP
| Q1 26 | — | — | ||
| Q4 25 | $16.1M | $-109.3M | ||
| Q3 25 | $6.0M | $-92.5M | ||
| Q2 25 | $4.1M | $-32.7M | ||
| Q1 25 | $-22.3M | $-93.7M | ||
| Q4 24 | $3.9M | $-11.2M | ||
| Q3 24 | $16.5M | $-53.3M | ||
| Q2 24 | $2.5M | $-15.6M |
自由现金流率CBATMP
| Q1 26 | — | — | ||
| Q4 25 | 27.3% | -207.4% | ||
| Q3 25 | 9.9% | -172.8% | ||
| Q2 25 | 10.2% | -56.9% | ||
| Q1 25 | -63.9% | -154.0% | ||
| Q4 24 | 15.5% | -18.3% | ||
| Q3 24 | 37.1% | -84.7% | ||
| Q2 24 | 5.2% | -50.1% |
资本支出强度CBATMP
| Q1 26 | — | — | ||
| Q4 25 | 23.4% | 118.5% | ||
| Q3 25 | 14.1% | 94.3% | ||
| Q2 25 | 23.8% | 50.5% | ||
| Q1 25 | 36.3% | 50.1% | ||
| Q4 24 | 22.5% | 68.3% | ||
| Q3 24 | 7.0% | 73.8% | ||
| Q2 24 | 0.9% | 148.7% |
现金转化率CBATMP
| Q1 26 | — | — | ||
| Q4 25 | — | -4.97× | ||
| Q3 25 | 5.51× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1115.72× | — | ||
| Q2 24 | 0.46× | — |
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
CBAT
| Manufacturing Lithium Batteries | $28.0M | 48% |
| Residential Energy Supply And Uninterruptable Supplies | $17.8M | 30% |
| Light Electric Vehicles | $12.9M | 22% |
| Precursor | $108.0K | 0% |
MP
| Materials Segment | $72.2M | 80% |
| Magnetics Segment | $21.1M | 23% |
