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杜比实验室（DLB）与MARCUS CORP（MCS）财务数据对比。点击上方公司名可切换其他公司
杜比实验室的季度营收约是MARCUS CORP的2.0倍（$395.6M vs $193.5M），杜比实验室同比增速更快（7.1% vs 2.8%），过去两年MARCUS CORP的营收复合增速更高（18.2% vs 13.9%）
杜比实验室是一家美国科技企业，专注于音频降噪、音频编码压缩、空间音频及高动态范围（HDR）影像等技术的研发，旗下技术广泛授权给全球各地的消费电子制造商使用，助力终端产品为用户带来更出色的视听体验。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
DLB vs MCS — 直观对比
营收规模更大
DLB
是对方的2.0倍
$193.5M
营收增速更快
DLB
高出4.3%
2.8%
两年增速更快
MCS
近两年复合增速
13.9%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $395.6M | $193.5M |
| 净利润 | $94.9M | — |
| 毛利率 | 88.7% | — |
| 营业利润率 | 28.5% | 0.9% |
| 净利率 | 24.0% | — |
| 营收同比 | 7.1% | 2.8% |
| 净利润同比 | 3.4% | — |
| 每股收益（稀释后） | $0.99 | — |
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DLBMCS
| Q2 26 | $395.6M | — | ||
| Q1 26 | $346.7M | — | ||
| Q4 25 | $346.7M | $193.5M | ||
| Q3 25 | $307.0M | $210.2M | ||
| Q2 25 | $315.5M | $206.0M | ||
| Q1 25 | $369.6M | $148.8M | ||
| Q4 24 | $357.0M | $188.3M | ||
| Q3 24 | $304.8M | $232.7M |
净利润DLBMCS
| Q2 26 | $94.9M | — | ||
| Q1 26 | $53.3M | — | ||
| Q4 25 | $53.3M | — | ||
| Q3 25 | $49.3M | $16.2M | ||
| Q2 25 | $46.1M | $7.3M | ||
| Q1 25 | $91.8M | $-16.8M | ||
| Q4 24 | $67.8M | $986.0K | ||
| Q3 24 | $58.6M | $23.3M |
毛利率DLBMCS
| Q2 26 | 88.7% | — | ||
| Q1 26 | 87.5% | — | ||
| Q4 25 | 87.5% | — | ||
| Q3 25 | 87.1% | — | ||
| Q2 25 | 86.1% | — | ||
| Q1 25 | 90.3% | — | ||
| Q4 24 | 88.6% | — | ||
| Q3 24 | 88.8% | — |
营业利润率DLBMCS
| Q2 26 | 28.5% | — | ||
| Q1 26 | 17.9% | — | ||
| Q4 25 | 17.9% | 0.9% | ||
| Q3 25 | 9.7% | 10.8% | ||
| Q2 25 | 15.1% | 6.3% | ||
| Q1 25 | 29.2% | -13.7% | ||
| Q4 24 | 22.4% | -1.2% | ||
| Q3 24 | 15.2% | 14.1% |
净利率DLBMCS
| Q2 26 | 24.0% | — | ||
| Q1 26 | 15.4% | — | ||
| Q4 25 | 15.4% | — | ||
| Q3 25 | 16.1% | 7.7% | ||
| Q2 25 | 14.6% | 3.6% | ||
| Q1 25 | 24.8% | -11.3% | ||
| Q4 24 | 19.0% | 0.5% | ||
| Q3 24 | 19.2% | 10.0% |
每股收益（稀释后）DLBMCS
| Q2 26 | $0.99 | — | ||
| Q1 26 | $0.55 | — | ||
| Q4 25 | $0.55 | — | ||
| Q3 25 | $0.50 | — | ||
| Q2 25 | $0.48 | — | ||
| Q1 25 | $0.94 | — | ||
| Q4 24 | $0.70 | — | ||
| Q3 24 | $0.59 | — |
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 | $594.7M | $23.4M |
| 总债务越低越好 | — | $159.0M |
| 股东权益账面价值 | $2.6B | $457.4M |
| 总资产 | $3.2B | $1.0B |
| 负债/权益比越低杠杆越低 | — | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资DLBMCS
| Q2 26 | $594.7M | — | ||
| Q1 26 | $644.6M | — | ||
| Q4 25 | $644.6M | $23.4M | ||
| Q3 25 | $702.6M | $7.4M | ||
| Q2 25 | $699.3M | $14.9M | ||
| Q1 25 | $626.6M | $11.9M | ||
| Q4 24 | $520.8M | $40.8M | ||
| Q3 24 | $482.0M | $28.4M |
总债务DLBMCS
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | $159.0M | ||
| Q3 25 | — | $162.0M | ||
| Q2 25 | — | $179.9M | ||
| Q1 25 | — | $198.9M | ||
| Q4 24 | — | $159.1M | ||
| Q3 24 | — | $173.1M |
股东权益DLBMCS
| Q2 26 | $2.6B | — | ||
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.6B | $457.4M | ||
| Q3 25 | $2.6B | $454.3M | ||
| Q2 25 | $2.6B | $448.4M | ||
| Q1 25 | $2.6B | $441.8M | ||
| Q4 24 | $2.5B | $464.9M | ||
| Q3 24 | $2.5B | $462.3M |
总资产DLBMCS
| Q2 26 | $3.2B | — | ||
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $1.0B | ||
| Q3 25 | $3.2B | $1.0B | ||
| Q2 25 | $3.2B | $1.0B | ||
| Q1 25 | $3.2B | $1.0B | ||
| Q4 24 | $3.2B | $1.0B | ||
| Q3 24 | $3.1B | $1.0B |
负债/权益比DLBMCS
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | 0.35× | ||
| Q3 25 | — | 0.36× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 0.34× | ||
| Q3 24 | — | 0.37× |
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 | $147.3M | $48.8M |
| 自由现金流经营现金流 - 资本支出 | — | $26.4M |
| 自由现金流率自由现金流/营收 | — | 13.6% |
| 资本支出强度资本支出/营收 | — | 11.6% |
| 现金转化率经营现金流/净利润 | 1.55× | — |
| 过去12个月自由现金流最近4个季度 | — | $989.0K |
8季度趋势，按日历期对齐
经营现金流DLBMCS
| Q2 26 | $147.3M | — | ||
| Q1 26 | $54.8M | — | ||
| Q4 25 | $54.8M | $48.8M | ||
| Q3 25 | $472.2M | $39.1M | ||
| Q2 25 | $67.7M | $31.6M | ||
| Q1 25 | $174.9M | $-35.3M | ||
| Q4 24 | $106.8M | $52.6M | ||
| Q3 24 | $327.3M | $30.5M |
自由现金流DLBMCS
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $50.2M | $26.4M | ||
| Q3 25 | $435.9M | $18.2M | ||
| Q2 25 | $61.3M | $14.7M | ||
| Q1 25 | $168.0M | $-58.3M | ||
| Q4 24 | $100.0M | $27.1M | ||
| Q3 24 | $297.2M | $12.0M |
自由现金流率DLBMCS
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 14.5% | 13.6% | ||
| Q3 25 | 142.0% | 8.7% | ||
| Q2 25 | 19.4% | 7.1% | ||
| Q1 25 | 45.5% | -39.2% | ||
| Q4 24 | 28.0% | 14.4% | ||
| Q3 24 | 97.5% | 5.2% |
资本支出强度DLBMCS
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 11.6% | ||
| Q3 25 | 11.8% | 9.9% | ||
| Q2 25 | 2.0% | 8.2% | ||
| Q1 25 | 1.9% | 15.5% | ||
| Q4 24 | 1.9% | 13.5% | ||
| Q3 24 | 9.8% | 7.9% |
现金转化率DLBMCS
| Q2 26 | 1.55× | — | ||
| Q1 26 | 1.03× | — | ||
| Q4 25 | 1.03× | — | ||
| Q3 25 | 9.57× | 2.41× | ||
| Q2 25 | 1.47× | 4.32× | ||
| Q1 25 | 1.91× | — | ||
| Q4 24 | 1.57× | 53.31× | ||
| Q3 24 | 5.59× | 1.31× |
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
DLB
| Licensing | $372.2M | 94% |
| Products and services | $23.4M | 6% |
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
