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COHERENT CORP.（COHR）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
美泰的季度营收约是COHERENT CORP.的1.0倍（$1.8B vs $1.7B），COHERENT CORP.净利率更高（8.7% vs 6.0%，领先2.7%），COHERENT CORP.同比增速更快（17.5% vs 7.3%），过去两年美泰的营收复合增速更高（47.7% vs 18.1%）
Coherent Corp.是美国专业光学材料与半导体生产商，2023年全球员工规模达26622人。2022年原II-VI公司收购激光制造商Coherent, Inc.后更名为现名，产品广泛应用于通信、工业、医疗等众多领域。
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。
COHR vs MAT — 直观对比
营收规模更大
MAT
是对方的1.0倍
$1.7B
营收增速更快
COHR
高出10.2%
7.3%
净利率更高
COHR
高出2.7%
6.0%
两年增速更快
MAT
近两年复合增速
18.1%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.8B |
| 净利润 | $146.7M | $106.2M |
| 毛利率 | 36.9% | 45.9% |
| 营业利润率 | 10.0% | 8.0% |
| 净利率 | 8.7% | 6.0% |
| 营收同比 | 17.5% | 7.3% |
| 净利润同比 | 41.9% | -24.6% |
| 每股收益（稀释后） | $0.76 | $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COHRMAT
| Q4 25 | $1.7B | $1.8B | ||
| Q3 25 | $1.6B | $1.7B | ||
| Q2 25 | $1.5B | $1.0B | ||
| Q1 25 | $1.5B | $826.6M | ||
| Q4 24 | $1.4B | $1.6B | ||
| Q3 24 | $1.3B | $1.8B | ||
| Q2 24 | $1.3B | $1.1B | ||
| Q1 24 | $1.2B | $809.5M |
净利润COHRMAT
| Q4 25 | $146.7M | $106.2M | ||
| Q3 25 | $226.3M | $278.4M | ||
| Q2 25 | $-95.6M | $53.4M | ||
| Q1 25 | $15.7M | $-40.3M | ||
| Q4 24 | $103.4M | $140.9M | ||
| Q3 24 | $25.9M | $372.4M | ||
| Q2 24 | $-48.4M | $56.9M | ||
| Q1 24 | $-13.2M | $-28.3M |
毛利率COHRMAT
| Q4 25 | 36.9% | 45.9% | ||
| Q3 25 | 36.6% | 50.0% | ||
| Q2 25 | 35.7% | 50.9% | ||
| Q1 25 | 35.2% | 49.4% | ||
| Q4 24 | 35.5% | 50.7% | ||
| Q3 24 | 34.1% | 53.1% | ||
| Q2 24 | 32.9% | 49.2% | ||
| Q1 24 | 30.3% | 48.0% |
营业利润率COHRMAT
| Q4 25 | 10.0% | 8.0% | ||
| Q3 25 | 13.7% | 21.9% | ||
| Q2 25 | -4.1% | 7.7% | ||
| Q1 25 | 0.7% | -6.4% | ||
| Q4 24 | 9.0% | 9.6% | ||
| Q3 24 | 1.4% | 26.5% | ||
| Q2 24 | 4.8% | 7.7% | ||
| Q1 24 | 1.8% | -4.4% |
净利率COHRMAT
| Q4 25 | 8.7% | 6.0% | ||
| Q3 25 | 14.3% | 16.0% | ||
| Q2 25 | -6.3% | 5.2% | ||
| Q1 25 | 1.0% | -4.9% | ||
| Q4 24 | 7.2% | 8.6% | ||
| Q3 24 | 1.9% | 20.2% | ||
| Q2 24 | -3.7% | 5.3% | ||
| Q1 24 | -1.1% | -3.5% |
每股收益（稀释后）COHRMAT
| Q4 25 | $0.76 | $0.32 | ||
| Q3 25 | $1.19 | $0.88 | ||
| Q2 25 | $-0.81 | $0.16 | ||
| Q1 25 | $-0.11 | $-0.12 | ||
| Q4 24 | $0.44 | $0.40 | ||
| Q3 24 | $-0.04 | $1.09 | ||
| Q2 24 | $-0.52 | $0.17 | ||
| Q1 24 | $-0.29 | $-0.08 |
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 | $863.7M | $1.2B |
| 总债务越低越好 | $3.4B | $2.3B |
| 股东权益账面价值 | $8.5B | $2.2B |
| 总资产 | $15.1B | $6.6B |
| 负债/权益比越低杠杆越低 | 0.39× | 1.04× |
8季度趋势，按日历期对齐
现金及短期投资COHRMAT
| Q4 25 | $863.7M | $1.2B | ||
| Q3 25 | $852.8M | $691.9M | ||
| Q2 25 | $909.2M | $870.5M | ||
| Q1 25 | $890.3M | $1.2B | ||
| Q4 24 | $917.8M | $1.4B | ||
| Q3 24 | $1.0B | $723.5M | ||
| Q2 24 | $926.0M | $722.4M | ||
| Q1 24 | $898.6M | $1.1B |
总债务COHRMAT
| Q4 25 | $3.4B | $2.3B | ||
| Q3 25 | $3.3B | $2.3B | ||
| Q2 25 | $3.7B | $2.3B | ||
| Q1 25 | $3.7B | $2.3B | ||
| Q4 24 | $3.9B | $2.3B | ||
| Q3 24 | $4.0B | $2.3B | ||
| Q2 24 | $4.1B | $2.3B | ||
| Q1 24 | $4.2B | $2.3B |
股东权益COHRMAT
| Q4 25 | $8.5B | $2.2B | ||
| Q3 25 | $5.8B | $2.3B | ||
| Q2 25 | $5.6B | $2.2B | ||
| Q1 25 | $5.4B | $2.1B | ||
| Q4 24 | $5.2B | $2.3B | ||
| Q3 24 | $5.5B | $2.3B | ||
| Q2 24 | $5.2B | $2.0B | ||
| Q1 24 | $5.3B | $2.0B |
总资产COHRMAT
| Q4 25 | $15.1B | $6.6B | ||
| Q3 25 | $14.7B | $6.6B | ||
| Q2 25 | $14.9B | $6.2B | ||
| Q1 25 | $14.4B | $6.2B | ||
| Q4 24 | $14.2B | $6.5B | ||
| Q3 24 | $14.7B | $6.5B | ||
| Q2 24 | $14.5B | $5.9B | ||
| Q1 24 | $14.5B | $6.1B |
负债/权益比COHRMAT
| Q4 25 | 0.39× | 1.04× | ||
| Q3 25 | 0.57× | 1.03× | ||
| Q2 25 | 0.65× | 1.08× | ||
| Q1 25 | 0.70× | 1.10× | ||
| Q4 24 | 0.75× | 1.03× | ||
| Q3 24 | 0.73× | 1.01× | ||
| Q2 24 | 0.79× | 1.18× | ||
| Q1 24 | 0.78× | 1.15× |
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 | $57.9M | $796.6M |
| 自由现金流经营现金流 - 资本支出 | $-95.7M | — |
| 自由现金流率自由现金流/营收 | -5.7% | — |
| 资本支出强度资本支出/营收 | 9.1% | — |
| 现金转化率经营现金流/净利润 | 0.39× | 7.50× |
| 过去12个月自由现金流最近4个季度 | $-103.6M | — |
8季度趋势，按日历期对齐
经营现金流COHRMAT
| Q4 25 | $57.9M | $796.6M | ||
| Q3 25 | $46.0M | $72.0M | ||
| Q2 25 | $130.3M | $-300.1M | ||
| Q1 25 | $163.0M | $24.8M | ||
| Q4 24 | $187.4M | $862.1M | ||
| Q3 24 | $153.0M | $155.8M | ||
| Q2 24 | $162.3M | $-252.9M | ||
| Q1 24 | $117.4M | $35.5M |
自由现金流COHRMAT
| Q4 25 | $-95.7M | — | ||
| Q3 25 | $-58.0M | — | ||
| Q2 25 | $-1.1M | — | ||
| Q1 25 | $51.1M | — | ||
| Q4 24 | $81.7M | — | ||
| Q3 24 | $61.0M | — | ||
| Q2 24 | $62.4M | — | ||
| Q1 24 | $24.2M | — |
自由现金流率COHRMAT
| Q4 25 | -5.7% | — | ||
| Q3 25 | -3.7% | — | ||
| Q2 25 | -0.1% | — | ||
| Q1 25 | 3.4% | — | ||
| Q4 24 | 5.7% | — | ||
| Q3 24 | 4.5% | — | ||
| Q2 24 | 4.7% | — | ||
| Q1 24 | 2.0% | — |
资本支出强度COHRMAT
| Q4 25 | 9.1% | — | ||
| Q3 25 | 6.6% | — | ||
| Q2 25 | 8.6% | — | ||
| Q1 25 | 7.5% | — | ||
| Q4 24 | 7.4% | — | ||
| Q3 24 | 6.8% | — | ||
| Q2 24 | 7.6% | — | ||
| Q1 24 | 7.7% | — |
现金转化率COHRMAT
| Q4 25 | 0.39× | 7.50× | ||
| Q3 25 | 0.20× | 0.26× | ||
| Q2 25 | — | -5.62× | ||
| Q1 25 | 10.37× | — | ||
| Q4 24 | 1.81× | 6.12× | ||
| Q3 24 | 5.91× | 0.42× | ||
| Q2 24 | — | -4.45× | ||
| Q1 24 | — | — |
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
COHR
| Datacenter And Communications Segment | $1.2B | 72% |
| Industrial Segment | $477.7M | 28% |
MAT
| North America Segment | $1.0B | 58% |
| International Segment | $745.6M | 42% |
