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CMS Energy（CMS）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
CMS Energy的季度营收约是Martin Marietta Materials的1.6倍（$2.1B vs $1.4B），Martin Marietta Materials净利率更高（111.1% vs 13.5%，领先97.5%），Martin Marietta Materials同比增速更快（17.0% vs 13.0%），过去两年CMS Energy的营收复合增速更高（-0.2% vs -12.1%）
CMS Energy是总部位于美国密歇根州杰克逊市的能源企业，业务核心聚焦密歇根州公用事业运营。旗下核心主体Consumers Energy成立于1886年，为全州超600万居民提供电力及天然气服务，非公用事业板块则主要开展美国本土独立发电业务。
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。
CMS vs MLM — 直观对比
营收规模更大
CMS
是对方的1.6倍
$1.4B
营收增速更快
MLM
高出4.0%
13.0%
净利率更高
MLM
高出97.5%
13.5%
两年增速更快
CMS
近两年复合增速
-12.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.4B |
| 净利润 | $289.0M | $1.5B |
| 毛利率 | — | 22.8% |
| 营业利润率 | 20.4% | 11.9% |
| 净利率 | 13.5% | 111.1% |
| 营收同比 | 13.0% | 17.0% |
| 净利润同比 | 9.1% | — |
| 每股收益（稀释后） | $0.94 | — |
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CMSMLM
| Q1 26 | — | $1.4B | ||
| Q4 25 | $2.1B | $1.1B | ||
| Q3 25 | $2.0B | $1.8B | ||
| Q2 25 | $1.8B | $1.8B | ||
| Q1 25 | $2.4B | $1.4B | ||
| Q4 24 | $1.9B | $1.6B | ||
| Q3 24 | $1.7B | $1.9B | ||
| Q2 24 | $1.6B | $1.8B |
净利润CMSMLM
| Q1 26 | — | $1.5B | ||
| Q4 25 | $289.0M | $279.0M | ||
| Q3 25 | $277.0M | $414.0M | ||
| Q2 25 | $201.0M | $328.0M | ||
| Q1 25 | $304.0M | $116.0M | ||
| Q4 24 | $265.0M | $293.0M | ||
| Q3 24 | $253.0M | $363.0M | ||
| Q2 24 | $198.0M | $294.0M |
毛利率CMSMLM
| Q1 26 | — | 22.8% | ||
| Q4 25 | — | 35.0% | ||
| Q3 25 | — | 33.1% | ||
| Q2 25 | — | 30.0% | ||
| Q1 25 | — | 24.8% | ||
| Q4 24 | — | 30.0% | ||
| Q3 24 | — | 31.7% | ||
| Q2 24 | — | 29.3% |
营业利润率CMSMLM
| Q1 26 | — | 11.9% | ||
| Q4 25 | 20.4% | 24.6% | ||
| Q3 25 | 24.4% | 27.4% | ||
| Q2 25 | 17.6% | 25.3% | ||
| Q1 25 | 20.6% | 14.3% | ||
| Q4 24 | 22.5% | 24.4% | ||
| Q3 24 | 21.4% | 25.9% | ||
| Q2 24 | 18.0% | 22.6% |
净利率CMSMLM
| Q1 26 | — | 111.1% | ||
| Q4 25 | 13.5% | 24.5% | ||
| Q3 25 | 14.0% | 22.4% | ||
| Q2 25 | 11.2% | 18.1% | ||
| Q1 25 | 12.7% | 8.6% | ||
| Q4 24 | 14.0% | 18.0% | ||
| Q3 24 | 14.8% | 19.2% | ||
| Q2 24 | 12.6% | 16.7% |
每股收益（稀释后）CMSMLM
| Q1 26 | — | — | ||
| Q4 25 | $0.94 | $4.59 | ||
| Q3 25 | $0.92 | $6.85 | ||
| Q2 25 | $0.66 | $5.43 | ||
| Q1 25 | $1.01 | $1.90 | ||
| Q4 24 | $0.88 | $4.87 | ||
| Q3 24 | $0.84 | $5.91 | ||
| Q2 24 | $0.65 | $4.76 |
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 | $509.0M | $273.0M |
| 总债务越低越好 | — | $0 |
| 股东权益账面价值 | $9.1B | $11.3B |
| 总资产 | $39.9B | $20.5B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资CMSMLM
| Q1 26 | — | $273.0M | ||
| Q4 25 | $509.0M | $67.0M | ||
| Q3 25 | $362.0M | $57.0M | ||
| Q2 25 | $844.0M | $225.0M | ||
| Q1 25 | $465.0M | $101.0M | ||
| Q4 24 | $103.0M | $670.0M | ||
| Q3 24 | $412.0M | $52.0M | ||
| Q2 24 | $699.0M | $109.0M |
总债务CMSMLM
| Q1 26 | — | $0 | ||
| Q4 25 | — | $5.3B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.4B | ||
| Q4 24 | — | $5.4B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.3B |
股东权益CMSMLM
| Q1 26 | — | $11.3B | ||
| Q4 25 | $9.1B | $10.0B | ||
| Q3 25 | $8.9B | $9.7B | ||
| Q2 25 | $8.4B | $9.4B | ||
| Q1 25 | $8.3B | $9.1B | ||
| Q4 24 | $8.2B | $9.5B | ||
| Q3 24 | $8.1B | $9.2B | ||
| Q2 24 | $8.0B | $8.8B |
总资产CMSMLM
| Q1 26 | — | $20.5B | ||
| Q4 25 | $39.9B | $18.7B | ||
| Q3 25 | $38.0B | $18.7B | ||
| Q2 25 | $37.7B | $18.1B | ||
| Q1 25 | $36.3B | $17.7B | ||
| Q4 24 | $35.9B | $18.2B | ||
| Q3 24 | $34.8B | $16.5B | ||
| Q2 24 | $34.4B | $16.3B |
负债/权益比CMSMLM
| Q1 26 | — | 0.00× | ||
| Q4 25 | — | 0.53× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | 0.58× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | — | 0.57× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 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 | $478.0M | $227.0M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | 40.4% |
| 现金转化率经营现金流/净利润 | 1.65× | 0.15× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流CMSMLM
| Q1 26 | — | $227.0M | ||
| Q4 25 | $478.0M | $629.0M | ||
| Q3 25 | $343.0M | $551.0M | ||
| Q2 25 | $414.0M | $387.0M | ||
| Q1 25 | $1.0B | $218.0M | ||
| Q4 24 | $403.0M | $686.0M | ||
| Q3 24 | $304.0M | $600.0M | ||
| Q2 24 | $707.0M | $1.0M |
自由现金流CMSMLM
| Q1 26 | — | — | ||
| Q4 25 | — | $424.0M | ||
| Q3 25 | $-635.0M | $361.0M | ||
| Q2 25 | $-470.0M | $208.0M | ||
| Q1 25 | $112.0M | $-15.0M | ||
| Q4 24 | — | $453.0M | ||
| Q3 24 | $-502.0M | $317.0M | ||
| Q2 24 | $26.0M | $-138.0M |
自由现金流率CMSMLM
| Q1 26 | — | — | ||
| Q4 25 | — | 37.2% | ||
| Q3 25 | -32.2% | 19.6% | ||
| Q2 25 | -26.1% | 11.5% | ||
| Q1 25 | 4.7% | -1.1% | ||
| Q4 24 | — | 27.8% | ||
| Q3 24 | -29.3% | 16.8% | ||
| Q2 24 | 1.6% | -7.8% |
资本支出强度CMSMLM
| Q1 26 | — | 40.4% | ||
| Q4 25 | — | 18.0% | ||
| Q3 25 | 49.5% | 10.3% | ||
| Q2 25 | 49.2% | 9.9% | ||
| Q1 25 | 37.0% | 17.2% | ||
| Q4 24 | — | 14.3% | ||
| Q3 24 | 47.1% | 15.0% | ||
| Q2 24 | 43.2% | 7.9% |
现金转化率CMSMLM
| Q1 26 | — | 0.15× | ||
| Q4 25 | 1.65× | 2.25× | ||
| Q3 25 | 1.24× | 1.33× | ||
| Q2 25 | 2.06× | 1.18× | ||
| Q1 25 | 3.29× | 1.88× | ||
| Q4 24 | 1.52× | 2.34× | ||
| Q3 24 | 1.20× | 1.65× | ||
| Q2 24 | 3.57× | 0.00× |
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
CMS
| Electric Utility | $1.3B | 59% |
| Gas Utility | $803.0M | 38% |
| North Star Clean Energy | $77.0M | 4% |
MLM
暂无分部数据
