vs
柯蒂斯-莱特（CW）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
Martin Marietta Materials的季度营收约是柯蒂斯-莱特的1.2倍（$1.1B vs $947.0M），Martin Marietta Materials净利率更高（24.5% vs 14.5%，领先10.0%），柯蒂斯-莱特同比增速更快（14.9% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $315.1M），过去两年柯蒂斯-莱特的营收复合增速更高（15.2% vs -4.5%）
柯蒂斯-莱特公司是总部位于美国北卡罗来纳州戴维森的制造与服务提供商，在美国内外均设有工厂及业务网点。公司1929年由柯蒂斯、莱特及多家供应商合并成立，成立之初即为美国最大航空企业，二战期间为美军生产了超14.2万台航空发动机。
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。
CW vs MLM — 直观对比
营收规模更大
MLM
是对方的1.2倍
$947.0M
营收增速更快
CW
高出45.0%
-30.1%
净利率更高
MLM
高出10.0%
14.5%
自由现金流更多
MLM
多$108.9M
$315.1M
两年增速更快
CW
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $947.0M | $1.1B |
| 净利润 | $137.0M | $279.0M |
| 毛利率 | 37.5% | 35.0% |
| 营业利润率 | 19.2% | 24.6% |
| 净利率 | 14.5% | 24.5% |
| 营收同比 | 14.9% | -30.1% |
| 净利润同比 | 16.2% | -4.8% |
| 每股收益（稀释后） | $3.69 | $4.59 |
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CWMLM
| Q4 25 | $947.0M | $1.1B | ||
| Q3 25 | $869.2M | $1.8B | ||
| Q2 25 | $876.6M | $1.8B | ||
| Q1 25 | $805.6M | $1.4B | ||
| Q4 24 | $824.3M | $1.6B | ||
| Q3 24 | $798.9M | $1.9B | ||
| Q2 24 | $784.8M | $1.8B | ||
| Q1 24 | $713.2M | $1.3B |
净利润CWMLM
| Q4 25 | $137.0M | $279.0M | ||
| Q3 25 | $124.8M | $414.0M | ||
| Q2 25 | $121.1M | $328.0M | ||
| Q1 25 | $101.3M | $116.0M | ||
| Q4 24 | $117.9M | $293.0M | ||
| Q3 24 | $111.2M | $363.0M | ||
| Q2 24 | $99.5M | $294.0M | ||
| Q1 24 | $76.5M | $1.0B |
毛利率CWMLM
| Q4 25 | 37.5% | 35.0% | ||
| Q3 25 | 37.7% | 33.1% | ||
| Q2 25 | 37.2% | 30.0% | ||
| Q1 25 | 36.3% | 24.8% | ||
| Q4 24 | 38.5% | 30.0% | ||
| Q3 24 | 37.3% | 31.7% | ||
| Q2 24 | 36.2% | 29.3% | ||
| Q1 24 | 35.6% | 21.7% |
营业利润率CWMLM
| Q4 25 | 19.2% | 24.6% | ||
| Q3 25 | 19.1% | 27.4% | ||
| Q2 25 | 17.8% | 25.3% | ||
| Q1 25 | 16.0% | 14.3% | ||
| Q4 24 | 18.8% | 24.4% | ||
| Q3 24 | 18.1% | 25.9% | ||
| Q2 24 | 16.4% | 22.6% | ||
| Q1 24 | 14.0% | — |
净利率CWMLM
| Q4 25 | 14.5% | 24.5% | ||
| Q3 25 | 14.4% | 22.4% | ||
| Q2 25 | 13.8% | 18.1% | ||
| Q1 25 | 12.6% | 8.6% | ||
| Q4 24 | 14.3% | 18.0% | ||
| Q3 24 | 13.9% | 19.2% | ||
| Q2 24 | 12.7% | 16.7% | ||
| Q1 24 | 10.7% | 83.5% |
每股收益（稀释后）CWMLM
| Q4 25 | $3.69 | $4.59 | ||
| Q3 25 | $3.31 | $6.85 | ||
| Q2 25 | $3.19 | $5.43 | ||
| Q1 25 | $2.68 | $1.90 | ||
| Q4 24 | $3.09 | $4.87 | ||
| Q3 24 | $2.89 | $5.91 | ||
| Q2 24 | $2.58 | $4.76 | ||
| Q1 24 | $1.99 | $16.87 |
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 | — | $67.0M |
| 总债务越低越好 | $957.9M | $5.3B |
| 股东权益账面价值 | $2.5B | $10.0B |
| 总资产 | $5.2B | $18.7B |
| 负债/权益比越低杠杆越低 | 0.38× | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资CWMLM
| Q4 25 | — | $67.0M | ||
| Q3 25 | — | $57.0M | ||
| Q2 25 | — | $225.0M | ||
| Q1 25 | $226.5M | $101.0M | ||
| Q4 24 | $385.0M | $670.0M | ||
| Q3 24 | — | $52.0M | ||
| Q2 24 | — | $109.0M | ||
| Q1 24 | $338.0M | $2.6B |
总债务CWMLM
| Q4 25 | $957.9M | $5.3B | ||
| Q3 25 | $968.6M | $5.5B | ||
| Q2 25 | $958.4M | $5.4B | ||
| Q1 25 | $958.6M | $5.4B | ||
| Q4 24 | $1.0B | $5.4B | ||
| Q3 24 | $1.0B | $4.0B | ||
| Q2 24 | $1.0B | $4.3B | ||
| Q1 24 | $1.1B | $4.3B |
股东权益CWMLM
| Q4 25 | $2.5B | $10.0B | ||
| Q3 25 | $2.5B | $9.7B | ||
| Q2 25 | $2.7B | $9.4B | ||
| Q1 25 | $2.6B | $9.1B | ||
| Q4 24 | $2.4B | $9.5B | ||
| Q3 24 | $2.5B | $9.2B | ||
| Q2 24 | $2.5B | $8.8B | ||
| Q1 24 | $2.4B | $8.9B |
总资产CWMLM
| Q4 25 | $5.2B | $18.7B | ||
| Q3 25 | $5.1B | $18.7B | ||
| Q2 25 | $5.2B | $18.1B | ||
| Q1 25 | $5.0B | $17.7B | ||
| Q4 24 | $5.0B | $18.2B | ||
| Q3 24 | $4.9B | $16.5B | ||
| Q2 24 | $4.7B | $16.3B | ||
| Q1 24 | $4.6B | $16.2B |
负债/权益比CWMLM
| Q4 25 | 0.38× | 0.53× | ||
| Q3 25 | 0.38× | 0.57× | ||
| Q2 25 | 0.35× | 0.58× | ||
| Q1 25 | 0.37× | 0.60× | ||
| Q4 24 | 0.43× | 0.57× | ||
| Q3 24 | 0.42× | 0.44× | ||
| Q2 24 | 0.43× | 0.49× | ||
| Q1 24 | 0.44× | 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 | $352.7M | $629.0M |
| 自由现金流经营现金流 - 资本支出 | $315.1M | $424.0M |
| 自由现金流率自由现金流/营收 | 33.3% | 37.2% |
| 资本支出强度资本支出/营收 | 4.0% | 18.0% |
| 现金转化率经营现金流/净利润 | 2.57× | 2.25× |
| 过去12个月自由现金流最近4个季度 | $553.7M | $978.0M |
8季度趋势，按日历期对齐
经营现金流CWMLM
| Q4 25 | $352.7M | $629.0M | ||
| Q3 25 | $192.8M | $551.0M | ||
| Q2 25 | $136.6M | $387.0M | ||
| Q1 25 | $-38.8M | $218.0M | ||
| Q4 24 | $301.3M | $686.0M | ||
| Q3 24 | $177.3M | $600.0M | ||
| Q2 24 | $111.3M | $1.0M | ||
| Q1 24 | $-45.6M | $172.0M |
自由现金流CWMLM
| Q4 25 | $315.1M | $424.0M | ||
| Q3 25 | $175.9M | $361.0M | ||
| Q2 25 | $117.2M | $208.0M | ||
| Q1 25 | $-54.5M | $-15.0M | ||
| Q4 24 | $278.0M | $453.0M | ||
| Q3 24 | $162.7M | $317.0M | ||
| Q2 24 | $100.3M | $-138.0M | ||
| Q1 24 | $-57.7M | $-28.0M |
自由现金流率CWMLM
| Q4 25 | 33.3% | 37.2% | ||
| Q3 25 | 20.2% | 19.6% | ||
| Q2 25 | 13.4% | 11.5% | ||
| Q1 25 | -6.8% | -1.1% | ||
| Q4 24 | 33.7% | 27.8% | ||
| Q3 24 | 20.4% | 16.8% | ||
| Q2 24 | 12.8% | -7.8% | ||
| Q1 24 | -8.1% | -2.2% |
资本支出强度CWMLM
| Q4 25 | 4.0% | 18.0% | ||
| Q3 25 | 1.9% | 10.3% | ||
| Q2 25 | 2.2% | 9.9% | ||
| Q1 25 | 2.0% | 17.2% | ||
| Q4 24 | 2.8% | 14.3% | ||
| Q3 24 | 1.8% | 15.0% | ||
| Q2 24 | 1.4% | 7.9% | ||
| Q1 24 | 1.7% | 16.0% |
现金转化率CWMLM
| Q4 25 | 2.57× | 2.25× | ||
| Q3 25 | 1.54× | 1.33× | ||
| Q2 25 | 1.13× | 1.18× | ||
| Q1 25 | -0.38× | 1.88× | ||
| Q4 24 | 2.56× | 2.34× | ||
| Q3 24 | 1.59× | 1.65× | ||
| Q2 24 | 1.12× | 0.00× | ||
| Q1 24 | -0.60× | 0.16× |
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
CW
| Naval Power | $417.4M | 44% |
| Defense Electronics | $268.3M | 28% |
| Aerospace Industrial | $262.4M | 28% |
MLM
| Building Materials Business East Group | $774.0M | 68% |
| Building Materials Business West Group | $233.0M | 20% |
| Services | $88.0M | 8% |
| Other | $45.0M | 4% |
