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DLH Holdings Corp.（DLHC）与MP Materials Corp.（MP）财务数据对比。点击上方公司名可切换其他公司
MP Materials Corp.的季度营收约是DLH Holdings Corp.的1.3倍（$90.6M vs $68.9M），DLH Holdings Corp.净利率更高（-1.9% vs -8.8%，领先6.9%），MP Materials Corp.同比增速更快（49.1% vs -24.1%），过去两年MP Materials Corp.的营收复合增速更高（70.3% vs -17.4%）
DLH Holdings Corp.是一家总部位于美国的政府服务供应商，主要为退伍军人事务部、国防部、卫生与公众服务部等联邦机构提供技术赋能的医疗、物流、工程及任务支持服务，同时服务部分州及地方公共部门客户。
MP Materials Corp.是总部位于美国的稀土材料生产商，拥有并运营加利福尼亚州芒廷帕斯矿，这是西半球唯一在产的稀土开采及加工设施，所产核心材料可广泛应用于电动汽车、风力发电机、国防工业等多个关键领域。
DLHC vs MP — 直观对比
营收规模更大
MP
是对方的1.3倍
$68.9M
营收增速更快
MP
高出73.2%
-24.1%
净利率更高
DLHC
高出6.9%
-8.8%
两年增速更快
MP
近两年复合增速
-17.4%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $68.9M | $90.6M |
| 净利润 | $-1.3M | $-8.0M |
| 毛利率 | — | — |
| 营业利润率 | 2.1% | — |
| 净利率 | -1.9% | -8.8% |
| 营收同比 | -24.1% | 49.1% |
| 净利润同比 | -218.7% | 64.8% |
| 每股收益（稀释后） | $-0.09 | $-0.04 |
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DLHCMP
| Q1 26 | — | $90.6M | ||
| Q4 25 | $68.9M | $52.7M | ||
| Q3 25 | $81.2M | $53.6M | ||
| Q2 25 | $83.3M | $57.4M | ||
| Q1 25 | $89.2M | $60.8M | ||
| Q4 24 | $90.8M | $61.0M | ||
| Q3 24 | $96.4M | $62.9M | ||
| Q2 24 | $100.7M | $31.3M |
净利润DLHCMP
| Q1 26 | — | $-8.0M | ||
| Q4 25 | $-1.3M | $9.4M | ||
| Q3 25 | $-920.0K | $-41.8M | ||
| Q2 25 | $289.0K | $-30.9M | ||
| Q1 25 | $878.0K | $-22.6M | ||
| Q4 24 | $1.1M | $-22.3M | ||
| Q3 24 | $2.3M | $-25.5M | ||
| Q2 24 | $1.1M | $-34.1M |
营业利润率DLHCMP
| Q1 26 | — | — | ||
| Q4 25 | 2.1% | -7.0% | ||
| Q3 25 | 2.8% | -125.2% | ||
| Q2 25 | 4.5% | -76.5% | ||
| Q1 25 | 5.7% | -57.2% | ||
| Q4 24 | 6.2% | -72.1% | ||
| Q3 24 | 6.6% | -62.8% | ||
| Q2 24 | 5.7% | -171.1% |
净利率DLHCMP
| Q1 26 | — | -8.8% | ||
| Q4 25 | -1.9% | 17.9% | ||
| Q3 25 | -1.1% | -78.0% | ||
| Q2 25 | 0.3% | -53.8% | ||
| Q1 25 | 1.0% | -37.2% | ||
| Q4 24 | 1.2% | -36.6% | ||
| Q3 24 | 2.4% | -40.5% | ||
| Q2 24 | 1.1% | -108.9% |
每股收益（稀释后）DLHCMP
| Q1 26 | — | $-0.04 | ||
| Q4 25 | $-0.09 | $0.07 | ||
| Q3 25 | $-0.07 | $-0.24 | ||
| Q2 25 | $0.02 | $-0.19 | ||
| Q1 25 | $0.06 | $-0.14 | ||
| Q4 24 | $0.08 | $-0.12 | ||
| Q3 24 | $0.16 | $-0.16 | ||
| Q2 24 | $0.08 | $-0.21 |
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 | $257.0K | $1.7B |
| 总债务越低越好 | $133.5M | $1.0B |
| 股东权益账面价值 | $112.2M | $2.0B |
| 总资产 | $283.5M | $3.8B |
| 负债/权益比越低杠杆越低 | 1.19× | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资DLHCMP
| Q1 26 | — | $1.7B | ||
| Q4 25 | $257.0K | $1.2B | ||
| Q3 25 | $125.0K | $1.1B | ||
| Q2 25 | $194.0K | $261.5M | ||
| Q1 25 | $196.0K | $198.3M | ||
| Q4 24 | $451.0K | $282.4M | ||
| Q3 24 | $342.0K | $284.4M | ||
| Q2 24 | $423.0K | $295.6M |
总债务DLHCMP
| Q1 26 | — | $1.0B | ||
| Q4 25 | $133.5M | $998.7M | ||
| Q3 25 | $128.0M | $997.3M | ||
| Q2 25 | $138.3M | $910.8M | ||
| Q1 25 | $147.3M | $909.8M | ||
| Q4 24 | $162.2M | $908.7M | ||
| Q3 24 | $149.4M | — | ||
| Q2 24 | $160.9M | — |
股东权益DLHCMP
| Q1 26 | — | $2.0B | ||
| Q4 25 | $112.2M | $2.0B | ||
| Q3 25 | $113.0M | $2.0B | ||
| Q2 25 | $113.7M | $1.0B | ||
| Q1 25 | $112.8M | $1.0B | ||
| Q4 24 | $111.4M | $1.1B | ||
| Q3 24 | $110.1M | $1.1B | ||
| Q2 24 | $108.6M | $1.1B |
总资产DLHCMP
| Q1 26 | — | $3.8B | ||
| Q4 25 | $283.5M | $3.9B | ||
| Q3 25 | $290.7M | $3.8B | ||
| Q2 25 | $299.3M | $2.3B | ||
| Q1 25 | $306.6M | $2.4B | ||
| Q4 24 | $325.0M | $2.3B | ||
| Q3 24 | $314.4M | $2.3B | ||
| Q2 24 | $325.0M | $2.4B |
负债/权益比DLHCMP
| Q1 26 | — | 0.51× | ||
| Q4 25 | 1.19× | 0.50× | ||
| Q3 25 | 1.13× | 0.51× | ||
| Q2 25 | 1.22× | 0.90× | ||
| Q1 25 | 1.31× | 0.88× | ||
| Q4 24 | 1.46× | 0.86× | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 1.48× | — |
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 | $-4.8M | $-1.9M |
| 自由现金流经营现金流 - 资本支出 | $-4.8M | — |
| 自由现金流率自由现金流/营收 | -7.0% | — |
| 资本支出强度资本支出/营收 | 0.1% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $29.2M | — |
8季度趋势，按日历期对齐
经营现金流DLHCMP
| Q1 26 | — | $-1.9M | ||
| Q4 25 | $-4.8M | $-46.9M | ||
| Q3 25 | $10.7M | $-42.0M | ||
| Q2 25 | $9.6M | $-3.7M | ||
| Q1 25 | $14.5M | $-63.2M | ||
| Q4 24 | $-11.5M | $30.5M | ||
| Q3 24 | $12.4M | $-6.8M | ||
| Q2 24 | $4.6M | $30.8M |
自由现金流DLHCMP
| Q1 26 | — | — | ||
| Q4 25 | $-4.8M | $-109.3M | ||
| Q3 25 | $10.7M | $-92.5M | ||
| Q2 25 | $9.4M | $-32.7M | ||
| Q1 25 | $14.0M | $-93.7M | ||
| Q4 24 | $-12.1M | $-11.2M | ||
| Q3 24 | $12.2M | $-53.3M | ||
| Q2 24 | $4.5M | $-15.6M |
自由现金流率DLHCMP
| Q1 26 | — | — | ||
| Q4 25 | -7.0% | -207.4% | ||
| Q3 25 | 13.1% | -172.8% | ||
| Q2 25 | 11.2% | -56.9% | ||
| Q1 25 | 15.6% | -154.0% | ||
| Q4 24 | -13.3% | -18.3% | ||
| Q3 24 | 12.7% | -84.7% | ||
| Q2 24 | 4.4% | -50.1% |
资本支出强度DLHCMP
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 118.5% | ||
| Q3 25 | 0.0% | 94.3% | ||
| Q2 25 | 0.3% | 50.5% | ||
| Q1 25 | 0.6% | 50.1% | ||
| Q4 24 | 0.6% | 68.3% | ||
| Q3 24 | 0.2% | 73.8% | ||
| Q2 24 | 0.2% | 148.7% |
现金转化率DLHCMP
| Q1 26 | — | — | ||
| Q4 25 | — | -4.97× | ||
| Q3 25 | — | — | ||
| Q2 25 | 33.12× | — | ||
| Q1 25 | 16.52× | — | ||
| Q4 24 | -10.35× | — | ||
| Q3 24 | 5.42× | — | ||
| Q2 24 | 4.06× | — |
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
DLHC
| Sales Channel Directly To Consumer | $64.5M | 94% |
| Sales Channel Through Intermediary | $4.4M | 6% |
MP
| Materials Segment | $72.2M | 80% |
| Magnetics Segment | $21.1M | 23% |
