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Deckers Brands（DECK）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是美泰的1.1倍（$2.0B vs $1.8B），Deckers Brands净利率更高（24.6% vs 6.0%，领先18.6%），美泰同比增速更快（7.3% vs 7.1%），过去两年美泰的营收复合增速更高（47.7% vs 42.8%）
Deckers Brands是1973年成立的美国鞋履设计与分销企业，总部位于加利福尼亚州戈利塔，由道格·奥托与卡尔·F·洛普克共同创立。公司旗下拥有UGG、Teva、Hoka等全球知名鞋履品牌，产品覆盖休闲、户外等多个领域，销往世界多地。
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。
DECK vs MAT — 直观对比
营收规模更大
DECK
是对方的1.1倍
$1.8B
营收增速更快
MAT
高出0.2%
7.1%
净利率更高
DECK
高出18.6%
6.0%
两年增速更快
MAT
近两年复合增速
42.8%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.8B |
| 净利润 | $481.1M | $106.2M |
| 毛利率 | 59.8% | 45.9% |
| 营业利润率 | 31.4% | 8.0% |
| 净利率 | 24.6% | 6.0% |
| 营收同比 | 7.1% | 7.3% |
| 净利润同比 | 5.3% | -24.6% |
| 每股收益（稀释后） | $3.33 | $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DECKMAT
| Q4 25 | $2.0B | $1.8B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $964.5M | $1.0B | ||
| Q1 25 | $1.0B | $826.6M | ||
| Q4 24 | $1.8B | $1.6B | ||
| Q3 24 | $1.3B | $1.8B | ||
| Q2 24 | $825.3M | $1.1B | ||
| Q1 24 | $959.8M | $809.5M |
净利润DECKMAT
| Q4 25 | $481.1M | $106.2M | ||
| Q3 25 | $268.2M | $278.4M | ||
| Q2 25 | $139.2M | $53.4M | ||
| Q1 25 | $151.4M | $-40.3M | ||
| Q4 24 | $456.7M | $140.9M | ||
| Q3 24 | $242.3M | $372.4M | ||
| Q2 24 | $115.6M | $56.9M | ||
| Q1 24 | $127.5M | $-28.3M |
毛利率DECKMAT
| Q4 25 | 59.8% | 45.9% | ||
| Q3 25 | 56.2% | 50.0% | ||
| Q2 25 | 55.8% | 50.9% | ||
| Q1 25 | 56.7% | 49.4% | ||
| Q4 24 | 60.3% | 50.7% | ||
| Q3 24 | 55.9% | 53.1% | ||
| Q2 24 | 56.9% | 49.2% | ||
| Q1 24 | 56.2% | 48.0% |
营业利润率DECKMAT
| Q4 25 | 31.4% | 8.0% | ||
| Q3 25 | 22.8% | 21.9% | ||
| Q2 25 | 17.1% | 7.7% | ||
| Q1 25 | 17.0% | -6.4% | ||
| Q4 24 | 31.0% | 9.6% | ||
| Q3 24 | 23.3% | 26.5% | ||
| Q2 24 | 16.1% | 7.7% | ||
| Q1 24 | 15.0% | -4.4% |
净利率DECKMAT
| Q4 25 | 24.6% | 6.0% | ||
| Q3 25 | 18.7% | 16.0% | ||
| Q2 25 | 14.4% | 5.2% | ||
| Q1 25 | 14.8% | -4.9% | ||
| Q4 24 | 25.0% | 8.6% | ||
| Q3 24 | 18.5% | 20.2% | ||
| Q2 24 | 14.0% | 5.3% | ||
| Q1 24 | 13.3% | -3.5% |
每股收益（稀释后）DECKMAT
| Q4 25 | $3.33 | $0.32 | ||
| Q3 25 | $1.82 | $0.88 | ||
| Q2 25 | $0.93 | $0.16 | ||
| Q1 25 | $-2.78 | $-0.12 | ||
| Q4 24 | $3.00 | $0.40 | ||
| Q3 24 | $1.59 | $1.09 | ||
| Q2 24 | $4.52 | $0.17 | ||
| Q1 24 | $4.82 | $-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 | $2.1B | $1.2B |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $2.6B | $2.2B |
| 总资产 | $4.1B | $6.6B |
| 负债/权益比越低杠杆越低 | — | 1.04× |
8季度趋势，按日历期对齐
现金及短期投资DECKMAT
| Q4 25 | $2.1B | $1.2B | ||
| Q3 25 | $1.4B | $691.9M | ||
| Q2 25 | $1.7B | $870.5M | ||
| Q1 25 | $1.9B | $1.2B | ||
| Q4 24 | $2.2B | $1.4B | ||
| Q3 24 | $1.2B | $723.5M | ||
| Q2 24 | $1.4B | $722.4M | ||
| Q1 24 | $1.5B | $1.1B |
总债务DECKMAT
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | $2.3B |
股东权益DECKMAT
| Q4 25 | $2.6B | $2.2B | ||
| Q3 25 | $2.5B | $2.3B | ||
| Q2 25 | $2.5B | $2.2B | ||
| Q1 25 | $2.5B | $2.1B | ||
| Q4 24 | $2.6B | $2.3B | ||
| Q3 24 | $2.2B | $2.3B | ||
| Q2 24 | $2.1B | $2.0B | ||
| Q1 24 | $2.1B | $2.0B |
总资产DECKMAT
| Q4 25 | $4.1B | $6.6B | ||
| Q3 25 | $3.8B | $6.6B | ||
| Q2 25 | $3.8B | $6.2B | ||
| Q1 25 | $3.6B | $6.2B | ||
| Q4 24 | $4.0B | $6.5B | ||
| Q3 24 | $3.4B | $6.5B | ||
| Q2 24 | $3.3B | $5.9B | ||
| Q1 24 | $3.1B | $6.1B |
负债/权益比DECKMAT
| Q4 25 | — | 1.04× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 1.08× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | — | 1.01× | ||
| Q2 24 | — | 1.18× | ||
| Q1 24 | — | 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 | $1.0B | $796.6M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | — |
| 自由现金流率自由现金流/营收 | 52.1% | — |
| 资本支出强度资本支出/营收 | 1.1% | — |
| 现金转化率经营现金流/净利润 | 2.17× | 7.50× |
| 过去12个月自由现金流最近4个季度 | $929.1M | — |
8季度趋势，按日历期对齐
经营现金流DECKMAT
| Q4 25 | $1.0B | $796.6M | ||
| Q3 25 | $8.1M | $72.0M | ||
| Q2 25 | $36.1M | $-300.1M | ||
| Q1 25 | $-73.0M | $24.8M | ||
| Q4 24 | $1.1B | $862.1M | ||
| Q3 24 | $-90.5M | $155.8M | ||
| Q2 24 | $112.7M | $-252.9M | ||
| Q1 24 | $-28.7M | $35.5M |
自由现金流DECKMAT
| Q4 25 | $1.0B | — | ||
| Q3 25 | $-13.9M | — | ||
| Q2 25 | $12.2M | — | ||
| Q1 25 | $-89.4M | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $-113.4M | — | ||
| Q2 24 | $90.1M | — | ||
| Q1 24 | $-44.0M | — |
自由现金流率DECKMAT
| Q4 25 | 52.1% | — | ||
| Q3 25 | -1.0% | — | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | -8.8% | — | ||
| Q4 24 | 58.6% | — | ||
| Q3 24 | -8.6% | — | ||
| Q2 24 | 10.9% | — | ||
| Q1 24 | -4.6% | — |
资本支出强度DECKMAT
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | 1.6% | — |
现金转化率DECKMAT
| Q4 25 | 2.17× | 7.50× | ||
| Q3 25 | 0.03× | 0.26× | ||
| Q2 25 | 0.26× | -5.62× | ||
| Q1 25 | -0.48× | — | ||
| Q4 24 | 2.40× | 6.12× | ||
| Q3 24 | -0.37× | 0.42× | ||
| Q2 24 | 0.97× | -4.45× | ||
| Q1 24 | -0.22× | — |
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
DECK
| UGG Brand Segment | $1.3B | 67% |
| Hoka Brand Segment | $628.9M | 32% |
| Other Brands Segment | $23.2M | 1% |
MAT
| North America Segment | $1.0B | 58% |
| International Segment | $745.6M | 42% |
