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COMMERCIAL METALS Co（CMC）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
COMMERCIAL METALS Co的季度营收约是美泰的2.5倍（$2.1B vs $862.2M），COMMERCIAL METALS Co净利率更高（8.4% vs 7.1%，领先1.3%），COMMERCIAL METALS Co同比增速更快（11.0% vs 4.3%），COMMERCIAL METALS Co自由现金流更多（$78.8M vs $-88.1M），过去两年COMMERCIAL METALS Co的营收复合增速更高（7.1% vs -10.6%）
商业金属公司（CMC）总部位于美国得克萨斯州欧文市，主营钢筋及相关建筑材料，与纽柯公司同为美国房屋、桥梁、道路等基础设施领域混凝土加固用钢材的两大核心供应商，旗下还拥有地基系统生产商Tensar，产品可用于道路、公共基建及工业设施建设。
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。
CMC vs MAT — 直观对比
营收规模更大
CMC
是对方的2.5倍
$862.2M
营收增速更快
CMC
高出6.7%
4.3%
净利率更高
CMC
高出1.3%
7.1%
自由现金流更多
CMC
多$166.8M
$-88.1M
两年增速更快
CMC
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $862.2M |
| 净利润 | $177.3M | $61.0M |
| 毛利率 | 19.2% | 44.9% |
| 营业利润率 | 8.6% | — |
| 净利率 | 8.4% | 7.1% |
| 营收同比 | 11.0% | 4.3% |
| 净利润同比 | 200.9% | 251.4% |
| 每股收益（稀释后） | $1.58 | $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CMCMAT
| Q1 26 | — | $862.2M | ||
| Q4 25 | $2.1B | $1.8B | ||
| Q3 25 | $2.1B | $1.7B | ||
| Q2 25 | $2.0B | $1.0B | ||
| Q1 25 | $1.8B | $826.6M | ||
| Q4 24 | $1.9B | $1.6B | ||
| Q3 24 | $2.0B | $1.8B | ||
| Q2 24 | $2.1B | $1.1B |
净利润CMCMAT
| Q1 26 | — | $61.0M | ||
| Q4 25 | $177.3M | $106.2M | ||
| Q3 25 | $151.8M | $278.4M | ||
| Q2 25 | $83.1M | $53.4M | ||
| Q1 25 | $25.5M | $-40.3M | ||
| Q4 24 | $-175.7M | $140.9M | ||
| Q3 24 | $103.9M | $372.4M | ||
| Q2 24 | $119.4M | $56.9M |
毛利率CMCMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | 19.2% | 45.9% | ||
| Q3 25 | 18.6% | 50.0% | ||
| Q2 25 | 14.8% | 50.9% | ||
| Q1 25 | 12.5% | 49.4% | ||
| Q4 24 | 16.1% | 50.7% | ||
| Q3 24 | 16.2% | 53.1% | ||
| Q2 24 | 16.4% | 49.2% |
营业利润率CMCMAT
| Q1 26 | — | — | ||
| Q4 25 | 8.6% | 8.0% | ||
| Q3 25 | 9.1% | 21.9% | ||
| Q2 25 | 5.4% | 7.7% | ||
| Q1 25 | 2.1% | -6.4% | ||
| Q4 24 | -12.1% | 9.6% | ||
| Q3 24 | 6.7% | 26.5% | ||
| Q2 24 | 7.7% | 7.7% |
净利率CMCMAT
| Q1 26 | — | 7.1% | ||
| Q4 25 | 8.4% | 6.0% | ||
| Q3 25 | 7.2% | 16.0% | ||
| Q2 25 | 4.1% | 5.2% | ||
| Q1 25 | 1.5% | -4.9% | ||
| Q4 24 | -9.2% | 8.6% | ||
| Q3 24 | 5.2% | 20.2% | ||
| Q2 24 | 5.7% | 5.3% |
每股收益（稀释后）CMCMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | $1.58 | $0.32 | ||
| Q3 25 | $1.33 | $0.88 | ||
| Q2 25 | $0.73 | $0.16 | ||
| Q1 25 | $0.22 | $-0.12 | ||
| Q4 24 | $-1.54 | $0.40 | ||
| Q3 24 | $0.90 | $1.09 | ||
| Q2 24 | $1.02 | $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 | $1.0B | $866.0M |
| 总债务越低越好 | $3.3B | $2.3B |
| 股东权益账面价值 | $4.3B | $2.1B |
| 总资产 | $9.2B | $6.3B |
| 负债/权益比越低杠杆越低 | 0.77× | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资CMCMAT
| Q1 26 | — | $866.0M | ||
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $1.0B | $691.9M | ||
| Q2 25 | $893.0M | $870.5M | ||
| Q1 25 | $758.4M | $1.2B | ||
| Q4 24 | $856.1M | $1.4B | ||
| Q3 24 | $857.9M | $723.5M | ||
| Q2 24 | $698.3M | $722.4M |
总债务CMCMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | $3.3B | $2.3B | ||
| Q3 25 | $1.3B | $2.3B | ||
| Q2 25 | $1.3B | $2.3B | ||
| Q1 25 | $1.2B | $2.3B | ||
| Q4 24 | $1.1B | $2.3B | ||
| Q3 24 | $1.2B | $2.3B | ||
| Q2 24 | $1.1B | $2.3B |
股东权益CMCMAT
| Q1 26 | — | $2.1B | ||
| Q4 25 | $4.3B | $2.2B | ||
| Q3 25 | $4.2B | $2.3B | ||
| Q2 25 | $4.1B | $2.2B | ||
| Q1 25 | $4.0B | $2.1B | ||
| Q4 24 | $4.0B | $2.3B | ||
| Q3 24 | $4.3B | $2.3B | ||
| Q2 24 | $4.3B | $2.0B |
总资产CMCMAT
| Q1 26 | — | $6.3B | ||
| Q4 25 | $9.2B | $6.6B | ||
| Q3 25 | $7.2B | $6.6B | ||
| Q2 25 | $7.0B | $6.2B | ||
| Q1 25 | $6.7B | $6.2B | ||
| Q4 24 | $6.8B | $6.5B | ||
| Q3 24 | $6.8B | $6.5B | ||
| Q2 24 | $6.7B | $5.9B |
负债/权益比CMCMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | 0.77× | 1.04× | ||
| Q3 25 | 0.31× | 1.03× | ||
| Q2 25 | 0.32× | 1.08× | ||
| Q1 25 | 0.29× | 1.10× | ||
| Q4 24 | 0.29× | 1.03× | ||
| Q3 24 | 0.27× | 1.01× | ||
| Q2 24 | 0.27× | 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 | $204.2M | — |
| 自由现金流经营现金流 - 资本支出 | $78.8M | $-88.1M |
| 自由现金流率自由现金流/营收 | 3.7% | -10.2% |
| 资本支出强度资本支出/营收 | 5.9% | 7.6% |
| 现金转化率经营现金流/净利润 | 1.15× | — |
| 过去12个月自由现金流最近4个季度 | $296.2M | — |
8季度趋势，按日历期对齐
经营现金流CMCMAT
| Q1 26 | — | — | ||
| Q4 25 | $204.2M | $796.6M | ||
| Q3 25 | $315.2M | $72.0M | ||
| Q2 25 | $154.4M | $-300.1M | ||
| Q1 25 | $32.4M | $24.8M | ||
| Q4 24 | $213.0M | $862.1M | ||
| Q3 24 | $351.8M | $155.8M | ||
| Q2 24 | $197.9M | $-252.9M |
自由现金流CMCMAT
| Q1 26 | — | $-88.1M | ||
| Q4 25 | $78.8M | — | ||
| Q3 25 | $206.3M | — | ||
| Q2 25 | $65.0M | — | ||
| Q1 25 | $-53.8M | — | ||
| Q4 24 | $94.8M | — | ||
| Q3 24 | $270.3M | — | ||
| Q2 24 | $115.8M | — |
自由现金流率CMCMAT
| Q1 26 | — | -10.2% | ||
| Q4 25 | 3.7% | — | ||
| Q3 25 | 9.8% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | -3.1% | — | ||
| Q4 24 | 5.0% | — | ||
| Q3 24 | 13.5% | — | ||
| Q2 24 | 5.6% | — |
资本支出强度CMCMAT
| Q1 26 | — | 7.6% | ||
| Q4 25 | 5.9% | — | ||
| Q3 25 | 5.2% | — | ||
| Q2 25 | 4.4% | — | ||
| Q1 25 | 4.9% | — | ||
| Q4 24 | 6.2% | — | ||
| Q3 24 | 4.1% | — | ||
| Q2 24 | 3.9% | — |
现金转化率CMCMAT
| Q1 26 | — | — | ||
| Q4 25 | 1.15× | 7.50× | ||
| Q3 25 | 2.08× | 0.26× | ||
| Q2 25 | 1.86× | -5.62× | ||
| Q1 25 | 1.27× | — | ||
| Q4 24 | — | 6.12× | ||
| Q3 24 | 3.39× | 0.42× | ||
| Q2 24 | 1.66× | -4.45× |
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
CMC
| Steel Products | $670.8M | 32% |
| Downstream Products | $505.3M | 24% |
| Construction Solutions Group | $314.4M | 15% |
| Europe Steel Group | $200.0M | 9% |
| Precast Products | $141.6M | 7% |
| Construction Products | $78.4M | 4% |
| Foley Products Company LLC | $75.1M | 4% |
| Concrete Pipe And Precast LLC | $69.4M | 3% |
| Ground Stabilization Products | $49.9M | 2% |
MAT
暂无分部数据
