vs
Traeger, Inc.（COOK）与微宏控股（MVST）财务数据对比。点击上方公司名可切换其他公司
Traeger, Inc.的季度营收约是微宏控股的1.5倍（$145.4M vs $96.4M），微宏控股净利率更高（17.2% vs -11.8%，领先29.0%），Traeger, Inc.同比增速更快（-13.8% vs -15.0%），微宏控股自由现金流更多（$15.8M vs $14.2M），过去两年微宏控股的营收复合增速更高（8.9% vs 0.2%）
Traeger, Inc.是一家专注于户外烹饪设备研发生产的企业，主营高端木颗粒烤炉、配套配件及专用木颗粒燃料，主要面向北美、欧洲、澳洲市场，通过零售渠道和直营模式服务家庭及商用餐饮客户。
微宏控股是一家电池科技企业，总部位于美国得克萨斯州斯塔福德，在纳斯达克上市。公司主要面向商用电动汽车与并网储能系统，设计、研发并生产电池组件及电池系统，目前在美国、中国、德国均设有生产基地。
COOK vs MVST — 直观对比
营收规模更大
COOK
是对方的1.5倍
$96.4M
营收增速更快
COOK
高出1.2%
-15.0%
净利率更高
MVST
高出29.0%
-11.8%
自由现金流更多
MVST
多$1.6M
$14.2M
两年增速更快
MVST
近两年复合增速
0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $145.4M | $96.4M |
| 净利润 | $-17.2M | $16.5M |
| 毛利率 | 37.4% | 1.0% |
| 营业利润率 | -8.0% | -42.7% |
| 净利率 | -11.8% | 17.2% |
| 营收同比 | -13.8% | -15.0% |
| 净利润同比 | -147.2% | 120.1% |
| 每股收益（稀释后） | $-0.13 | $0.19 |
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COOKMVST
| Q4 25 | $145.4M | $96.4M | ||
| Q3 25 | $125.4M | $123.3M | ||
| Q2 25 | $145.5M | $91.3M | ||
| Q1 25 | $143.3M | $116.5M | ||
| Q4 24 | $168.6M | $113.4M | ||
| Q3 24 | $122.0M | $101.4M | ||
| Q2 24 | $168.5M | $83.7M | ||
| Q1 24 | $144.9M | $81.4M |
净利润COOKMVST
| Q4 25 | $-17.2M | $16.5M | ||
| Q3 25 | $-89.8M | $-1.5M | ||
| Q2 25 | $-7.4M | $-106.1M | ||
| Q1 25 | $-778.0K | $61.8M | ||
| Q4 24 | $-7.0M | $-82.3M | ||
| Q3 24 | $-19.8M | $13.2M | ||
| Q2 24 | $-2.6M | $-101.6M | ||
| Q1 24 | $-4.7M | $-24.8M |
毛利率COOKMVST
| Q4 25 | 37.4% | 1.0% | ||
| Q3 25 | 38.7% | 37.6% | ||
| Q2 25 | 39.2% | 34.7% | ||
| Q1 25 | 41.5% | 36.9% | ||
| Q4 24 | 40.9% | 36.6% | ||
| Q3 24 | 42.3% | 33.2% | ||
| Q2 24 | 42.9% | 32.5% | ||
| Q1 24 | 43.2% | 21.2% |
营业利润率COOKMVST
| Q4 25 | -8.0% | -42.7% | ||
| Q3 25 | -66.5% | 10.5% | ||
| Q2 25 | -4.2% | 17.8% | ||
| Q1 25 | 2.4% | 16.3% | ||
| Q4 24 | -0.1% | -1.2% | ||
| Q3 24 | -6.1% | 7.1% | ||
| Q2 24 | 2.8% | -118.0% | ||
| Q1 24 | -0.1% | -28.4% |
净利率COOKMVST
| Q4 25 | -11.8% | 17.2% | ||
| Q3 25 | -71.6% | -1.2% | ||
| Q2 25 | -5.1% | -116.1% | ||
| Q1 25 | -0.5% | 53.0% | ||
| Q4 24 | -4.1% | -72.6% | ||
| Q3 24 | -16.2% | 13.1% | ||
| Q2 24 | -1.5% | -121.4% | ||
| Q1 24 | -3.2% | -30.5% |
每股收益（稀释后）COOKMVST
| Q4 25 | $-0.13 | $0.19 | ||
| Q3 25 | $-0.67 | $0.00 | ||
| Q2 25 | $-0.06 | $-0.33 | ||
| Q1 25 | $-0.01 | $0.05 | ||
| Q4 24 | $-0.06 | $-0.24 | ||
| Q3 24 | $-0.15 | $0.03 | ||
| Q2 24 | $-0.02 | $-0.32 | ||
| Q1 24 | $-0.04 | $-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 | $19.6M | $105.0M |
| 总债务越低越好 | $403.3M | $13.2M |
| 股东权益账面价值 | $170.8M | $410.5M |
| 总资产 | $676.0M | $1.0B |
| 负债/权益比越低杠杆越低 | 2.36× | 0.03× |
8季度趋势，按日历期对齐
现金及短期投资COOKMVST
| Q4 25 | $19.6M | $105.0M | ||
| Q3 25 | $5.9M | $90.7M | ||
| Q2 25 | $10.3M | $99.7M | ||
| Q1 25 | $12.0M | $90.9M | ||
| Q4 24 | $15.0M | $73.0M | ||
| Q3 24 | $16.9M | $63.6M | ||
| Q2 24 | $18.0M | $68.2M | ||
| Q1 24 | $23.6M | $39.5M |
总债务COOKMVST
| Q4 25 | $403.3M | $13.2M | ||
| Q3 25 | — | $34.4M | ||
| Q2 25 | — | $34.2M | ||
| Q1 25 | — | $41.3M | ||
| Q4 24 | $403.6M | $41.1M | ||
| Q3 24 | — | $53.4M | ||
| Q2 24 | — | $34.2M | ||
| Q1 24 | — | $43.0M |
股东权益COOKMVST
| Q4 25 | $170.8M | $410.5M | ||
| Q3 25 | $186.1M | $358.1M | ||
| Q2 25 | $274.2M | $356.1M | ||
| Q1 25 | $279.6M | $454.2M | ||
| Q4 24 | $276.4M | $387.9M | ||
| Q3 24 | $279.8M | $486.1M | ||
| Q2 24 | $297.3M | $455.0M | ||
| Q1 24 | $294.6M | $546.1M |
总资产COOKMVST
| Q4 25 | $676.0M | $1.0B | ||
| Q3 25 | $689.6M | $1.0B | ||
| Q2 25 | $780.6M | $1.0B | ||
| Q1 25 | $825.6M | $982.9M | ||
| Q4 24 | $830.7M | $951.9M | ||
| Q3 24 | $818.1M | $997.9M | ||
| Q2 24 | $842.4M | $961.4M | ||
| Q1 24 | $862.1M | $1.0B |
负债/权益比COOKMVST
| Q4 25 | 2.36× | 0.03× | ||
| Q3 25 | — | 0.10× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | 0.09× | ||
| Q4 24 | 1.46× | 0.11× | ||
| Q3 24 | — | 0.11× | ||
| Q2 24 | — | 0.08× | ||
| Q1 24 | — | 0.08× |
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 | $15.5M | $16.4M |
| 自由现金流经营现金流 - 资本支出 | $14.2M | $15.8M |
| 自由现金流率自由现金流/营收 | 9.8% | 16.4% |
| 资本支出强度资本支出/营收 | 0.9% | 0.7% |
| 现金转化率经营现金流/净利润 | — | 0.99× |
| 过去12个月自由现金流最近4个季度 | $13.6M | $56.1M |
8季度趋势，按日历期对齐
经营现金流COOKMVST
| Q4 25 | $15.5M | $16.4M | ||
| Q3 25 | $7.6M | $15.2M | ||
| Q2 25 | $18.3M | $37.2M | ||
| Q1 25 | $-20.8M | $7.2M | ||
| Q4 24 | $7.5M | $6.1M | ||
| Q3 24 | $15.1M | $-5.4M | ||
| Q2 24 | $13.9M | $111.0K | ||
| Q1 24 | $-12.6M | $2.0M |
自由现金流COOKMVST
| Q4 25 | $14.2M | $15.8M | ||
| Q3 25 | $6.4M | $1.2M | ||
| Q2 25 | $15.7M | $34.3M | ||
| Q1 25 | $-22.7M | $4.8M | ||
| Q4 24 | $5.5M | $5.7M | ||
| Q3 24 | $12.8M | $-19.6M | ||
| Q2 24 | $11.8M | $-2.8M | ||
| Q1 24 | $-18.3M | $-8.2M |
自由现金流率COOKMVST
| Q4 25 | 9.8% | 16.4% | ||
| Q3 25 | 5.1% | 1.0% | ||
| Q2 25 | 10.8% | 37.5% | ||
| Q1 25 | -15.8% | 4.1% | ||
| Q4 24 | 3.3% | 5.1% | ||
| Q3 24 | 10.5% | -19.3% | ||
| Q2 24 | 7.0% | -3.4% | ||
| Q1 24 | -12.6% | -10.1% |
资本支出强度COOKMVST
| Q4 25 | 0.9% | 0.7% | ||
| Q3 25 | 0.9% | 11.3% | ||
| Q2 25 | 1.8% | 3.1% | ||
| Q1 25 | 1.3% | 2.0% | ||
| Q4 24 | 1.2% | 0.3% | ||
| Q3 24 | 1.9% | 14.0% | ||
| Q2 24 | 1.2% | 3.5% | ||
| Q1 24 | 3.9% | 12.6% |
现金转化率COOKMVST
| Q4 25 | — | 0.99× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.41× | ||
| Q2 24 | — | — | ||
| 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
COOK
| Grills | $60.6M | 42% |
| Accessories | $49.2M | 34% |
| Consumables | $35.5M | 24% |
MVST
| Europe | $35.1M | 36% |
| CN | $32.5M | 34% |
| US | $21.5M | 22% |
| Other | $7.2M | 8% |
