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AMERICOLD REALTY TRUST（COLD）与美森（MATX）财务数据对比。点击上方公司名可切换其他公司
美森的季度营收约是AMERICOLD REALTY TRUST的1.3倍（$851.9M vs $643.1M），美森净利率更高（16.8% vs -13.7%，领先30.5%），AMERICOLD REALTY TRUST同比增速更快（-0.7% vs -4.3%），美森自由现金流更多（$42.2M vs $-12.2M），过去两年美森的营收复合增速更高（8.6% vs -0.6%）
Americold Realty Trust是总部位于美国佐治亚州亚特兰大的温控仓储及运输企业，主营现代化商用温控仓储业务，通过冷链体系存储易腐货物，是食品保鲜供应链的重要参与方，为全球第二大温控仓储及配送服务提供商。
美森公司（Matson, Inc.）是美国知名航运服务企业，总部位于夏威夷州火奴鲁鲁，成立于1882年。旗下子公司美森航运主营跨太平洋海运业务，服务覆盖夏威夷、阿拉斯加、关岛、密克罗尼西亚、太平洋诸岛、中国及日本等地区。
COLD vs MATX — 直观对比
营收规模更大
MATX
是对方的1.3倍
$643.1M
营收增速更快
COLD
高出3.7%
-4.3%
净利率更高
MATX
高出30.5%
-13.7%
自由现金流更多
MATX
多$54.4M
$-12.2M
两年增速更快
MATX
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $643.1M | $851.9M |
| 净利润 | $-88.3M | $143.1M |
| 毛利率 | 31.3% | — |
| 营业利润率 | -10.8% | 16.9% |
| 净利率 | -13.7% | 16.8% |
| 营收同比 | -0.7% | -4.3% |
| 净利润同比 | -143.9% | 11.8% |
| 每股收益（稀释后） | $-0.31 | $4.47 |
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COLDMATX
| Q4 25 | $643.1M | $851.9M | ||
| Q3 25 | $649.0M | $880.1M | ||
| Q2 25 | $635.1M | $830.5M | ||
| Q1 25 | $613.7M | $782.0M | ||
| Q4 24 | $647.4M | $890.3M | ||
| Q3 24 | $660.4M | $962.0M | ||
| Q2 24 | $645.6M | $847.4M | ||
| Q1 24 | $651.4M | $722.1M |
净利润COLDMATX
| Q4 25 | $-88.3M | $143.1M | ||
| Q3 25 | $-11.4M | $134.7M | ||
| Q2 25 | $1.5M | $94.7M | ||
| Q1 25 | $-16.4M | $72.3M | ||
| Q4 24 | $-36.2M | $128.0M | ||
| Q3 24 | $-3.7M | $199.1M | ||
| Q2 24 | $-64.1M | $113.2M | ||
| Q1 24 | $9.7M | $36.1M |
毛利率COLDMATX
| Q4 25 | 31.3% | — | ||
| Q3 25 | 29.3% | — | ||
| Q2 25 | 30.9% | — | ||
| Q1 25 | 31.1% | — | ||
| Q4 24 | 29.7% | — | ||
| Q3 24 | 29.6% | — | ||
| Q2 24 | 31.0% | — | ||
| Q1 24 | 30.3% | — |
营业利润率COLDMATX
| Q4 25 | -10.8% | 16.9% | ||
| Q3 25 | 2.6% | 18.3% | ||
| Q2 25 | 5.9% | 13.6% | ||
| Q1 25 | 3.6% | 10.5% | ||
| Q4 24 | -1.8% | 16.6% | ||
| Q3 24 | 4.6% | 25.2% | ||
| Q2 24 | 9.8% | 14.7% | ||
| Q1 24 | 6.4% | 5.1% |
净利率COLDMATX
| Q4 25 | -13.7% | 16.8% | ||
| Q3 25 | -1.8% | 15.3% | ||
| Q2 25 | 0.2% | 11.4% | ||
| Q1 25 | -2.7% | 9.2% | ||
| Q4 24 | -5.6% | 14.4% | ||
| Q3 24 | -0.6% | 20.7% | ||
| Q2 24 | -9.9% | 13.4% | ||
| Q1 24 | 1.5% | 5.0% |
每股收益（稀释后）COLDMATX
| Q4 25 | $-0.31 | $4.47 | ||
| Q3 25 | $-0.04 | $4.24 | ||
| Q2 25 | $0.01 | $2.92 | ||
| Q1 25 | $-0.06 | $2.18 | ||
| Q4 24 | $-0.12 | $3.69 | ||
| Q3 24 | $-0.01 | $5.89 | ||
| Q2 24 | $-0.23 | $3.31 | ||
| Q1 24 | $0.03 | $1.04 |
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 | $136.9M | $141.9M |
| 总债务越低越好 | — | $361.2M |
| 股东权益账面价值 | $2.9B | $2.8B |
| 总资产 | $8.1B | $4.6B |
| 负债/权益比越低杠杆越低 | — | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资COLDMATX
| Q4 25 | $136.9M | $141.9M | ||
| Q3 25 | $33.3M | $92.7M | ||
| Q2 25 | $101.4M | $59.1M | ||
| Q1 25 | $38.9M | $122.0M | ||
| Q4 24 | $47.7M | $266.8M | ||
| Q3 24 | $61.3M | $270.3M | ||
| Q2 24 | $44.2M | $168.2M | ||
| Q1 24 | $59.2M | $25.9M |
总债务COLDMATX
| Q4 25 | — | $361.2M | ||
| Q3 25 | — | $370.9M | ||
| Q2 25 | — | $341.3M | ||
| Q1 25 | — | $351.1M | ||
| Q4 24 | — | $361.2M | ||
| Q3 24 | — | $370.9M | ||
| Q2 24 | — | $381.0M | ||
| Q1 24 | — | $390.8M |
股东权益COLDMATX
| Q4 25 | $2.9B | $2.8B | ||
| Q3 25 | $3.0B | $2.7B | ||
| Q2 25 | $3.1B | $2.6B | ||
| Q1 25 | $3.2B | $2.6B | ||
| Q4 24 | $3.3B | $2.7B | ||
| Q3 24 | $3.4B | $2.6B | ||
| Q2 24 | $3.4B | $2.4B | ||
| Q1 24 | $3.6B | $2.4B |
总资产COLDMATX
| Q4 25 | $8.1B | $4.6B | ||
| Q3 25 | $8.1B | $4.6B | ||
| Q2 25 | $8.1B | $4.5B | ||
| Q1 25 | $7.8B | $4.5B | ||
| Q4 24 | $7.7B | $4.6B | ||
| Q3 24 | $7.9B | $4.4B | ||
| Q2 24 | $7.8B | $4.3B | ||
| Q1 24 | $7.8B | $4.2B |
负债/权益比COLDMATX
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | 0.14× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.16× | ||
| Q1 24 | — | 0.16× |
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 | $130.2M | $176.9M |
| 自由现金流经营现金流 - 资本支出 | $-12.2M | $42.2M |
| 自由现金流率自由现金流/营收 | -1.9% | 5.0% |
| 资本支出强度资本支出/营收 | 22.1% | 15.8% |
| 现金转化率经营现金流/净利润 | — | 1.24× |
| 过去12个月自由现金流最近4个季度 | $-217.2M | $153.7M |
8季度趋势，按日历期对齐
经营现金流COLDMATX
| Q4 25 | $130.2M | $176.9M | ||
| Q3 25 | $78.9M | $175.6M | ||
| Q2 25 | $120.3M | $105.6M | ||
| Q1 25 | $30.2M | $89.0M | ||
| Q4 24 | $162.6M | $174.7M | ||
| Q3 24 | $50.6M | $248.6M | ||
| Q2 24 | $136.7M | $307.9M | ||
| Q1 24 | $62.0M | $36.6M |
自由现金流COLDMATX
| Q4 25 | $-12.2M | $42.2M | ||
| Q3 25 | $-65.4M | $92.4M | ||
| Q2 25 | $-57.4M | $19.3M | ||
| Q1 25 | $-82.3M | $-200.0K | ||
| Q4 24 | $57.4M | $49.3M | ||
| Q3 24 | $-44.5M | $189.0M | ||
| Q2 24 | $73.3M | $238.1M | ||
| Q1 24 | $16.2M | $-18.7M |
自由现金流率COLDMATX
| Q4 25 | -1.9% | 5.0% | ||
| Q3 25 | -10.1% | 10.5% | ||
| Q2 25 | -9.0% | 2.3% | ||
| Q1 25 | -13.4% | -0.0% | ||
| Q4 24 | 8.9% | 5.5% | ||
| Q3 24 | -6.7% | 19.6% | ||
| Q2 24 | 11.4% | 28.1% | ||
| Q1 24 | 2.5% | -2.6% |
资本支出强度COLDMATX
| Q4 25 | 22.1% | 15.8% | ||
| Q3 25 | 22.2% | 9.5% | ||
| Q2 25 | 28.0% | 10.4% | ||
| Q1 25 | 18.3% | 11.4% | ||
| Q4 24 | 16.3% | 14.1% | ||
| Q3 24 | 14.4% | 6.2% | ||
| Q2 24 | 9.8% | 8.2% | ||
| Q1 24 | 7.0% | 7.7% |
现金转化率COLDMATX
| Q4 25 | — | 1.24× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | 78.18× | 1.12× | ||
| Q1 25 | — | 1.23× | ||
| Q4 24 | — | 1.36× | ||
| Q3 24 | — | 1.25× | ||
| Q2 24 | — | 2.72× | ||
| Q1 24 | 6.36× | 1.01× |
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
COLD
| Warehouse Services | $269.0M | 42% |
| Warehouse Rent And Storage | $199.9M | 31% |
| Other Facilities Costs | $60.0M | 9% |
| Transportation Segment | $48.3M | 8% |
| Power | $34.7M | 5% |
| Transportation | $22.0M | 3% |
| Third Party Managed Segment | $9.5M | 1% |
| Third Party Managed | $2.4M | 0% |
MATX
| Ocean Transportation Segment | $704.2M | 83% |
| Logistics Services Segment | $147.7M | 17% |
