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COMFORT SYSTEMS USA INC（FIX）与梅西百货（M）财务数据对比。点击上方公司名可切换其他公司
梅西百货的季度营收约是COMFORT SYSTEMS USA INC的1.8倍（$4.7B vs $2.6B），COMFORT SYSTEMS USA INC净利率更高（12.5% vs 0.2%，领先12.3%），COMFORT SYSTEMS USA INC同比增速更快（41.7% vs -0.6%），COMFORT SYSTEMS USA INC自由现金流更多（$402.4M vs $-101.0M），过去两年COMFORT SYSTEMS USA INC的营收复合增速更高（31.2% vs -23.8%）
Comfort Systems USA Inc.是一家美国企业，主营机电工程承包服务，核心业务覆盖暖通空调、给排水、管道工程、控制系统、场外预制建造、监测服务、消防系统，以及电气系统的安装与运维，为各类客户提供一体化机电设施解决方案。
梅西百货是美国知名百货控股集团，1929年成立时名为联合百货，最初持有Abraham & Straus、Lazarus等多个区域连锁百货品牌，次年布鲁明戴尔正式加入。集团早年频繁开展资产并购与剥离，1994年收购1858年创立的老牌百货梅西，随后更名并发展为美国头部百货零售企业。
FIX vs M — 直观对比
营收规模更大
M
是对方的1.8倍
$2.6B
营收增速更快
FIX
高出42.3%
-0.6%
净利率更高
FIX
高出12.3%
0.2%
自由现金流更多
FIX
多$503.4M
$-101.0M
两年增速更快
FIX
近两年复合增速
-23.8%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.6B | $4.7B |
| 净利润 | $330.8M | $11.0M |
| 毛利率 | 25.5% | 39.4% |
| 营业利润率 | 16.1% | 0.9% |
| 净利率 | 12.5% | 0.2% |
| 营收同比 | 41.7% | -0.6% |
| 净利润同比 | 126.8% | -60.7% |
| 每股收益（稀释后） | $9.35 | $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FIXM
| Q4 25 | $2.6B | $4.7B | ||
| Q3 25 | $2.5B | $4.8B | ||
| Q2 25 | $2.2B | $4.6B | ||
| Q1 25 | $1.8B | $7.8B | ||
| Q4 24 | $1.9B | $4.7B | ||
| Q3 24 | $1.8B | $4.9B | ||
| Q2 24 | $1.8B | $4.8B | ||
| Q1 24 | $1.5B | $8.1B |
净利润FIXM
| Q4 25 | $330.8M | $11.0M | ||
| Q3 25 | $291.6M | $87.0M | ||
| Q2 25 | $230.8M | $38.0M | ||
| Q1 25 | $169.3M | $342.0M | ||
| Q4 24 | $145.9M | $28.0M | ||
| Q3 24 | $146.2M | $150.0M | ||
| Q2 24 | $134.0M | $62.0M | ||
| Q1 24 | $96.3M | $-71.0M |
毛利率FIXM
| Q4 25 | 25.5% | 39.4% | ||
| Q3 25 | 24.8% | 39.7% | ||
| Q2 25 | 23.5% | 39.2% | ||
| Q1 25 | 22.0% | 35.7% | ||
| Q4 24 | 23.2% | 39.6% | ||
| Q3 24 | 21.1% | 40.5% | ||
| Q2 24 | 20.1% | 39.2% | ||
| Q1 24 | 19.3% | 37.5% |
营业利润率FIXM
| Q4 25 | 16.1% | 0.9% | ||
| Q3 25 | 15.5% | 3.1% | ||
| Q2 25 | 13.8% | 2.0% | ||
| Q1 25 | 11.4% | 6.4% | ||
| Q4 24 | 12.1% | 1.3% | ||
| Q3 24 | 11.2% | 4.5% | ||
| Q2 24 | 10.2% | 2.6% | ||
| Q1 24 | 8.8% | -0.9% |
净利率FIXM
| Q4 25 | 12.5% | 0.2% | ||
| Q3 25 | 11.9% | 1.8% | ||
| Q2 25 | 10.6% | 0.8% | ||
| Q1 25 | 9.2% | 4.4% | ||
| Q4 24 | 7.8% | 0.6% | ||
| Q3 24 | 8.1% | 3.0% | ||
| Q2 24 | 7.4% | 1.3% | ||
| Q1 24 | 6.3% | -0.9% |
每股收益（稀释后）FIXM
| Q4 25 | $9.35 | $0.04 | ||
| Q3 25 | $8.25 | $0.31 | ||
| Q2 25 | $6.53 | $0.13 | ||
| Q1 25 | $4.75 | $1.22 | ||
| Q4 24 | $4.08 | $0.10 | ||
| Q3 24 | $4.09 | $0.53 | ||
| Q2 24 | $3.74 | $0.22 | ||
| Q1 24 | $2.69 | $-0.25 |
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 | $981.9M | $447.0M |
| 总债务越低越好 | $145.2M | $2.4B |
| 股东权益账面价值 | $2.4B | $4.3B |
| 总资产 | $6.4B | $17.1B |
| 负债/权益比越低杠杆越低 | 0.06× | 0.56× |
8季度趋势，按日历期对齐
现金及短期投资FIXM
| Q4 25 | $981.9M | $447.0M | ||
| Q3 25 | $860.5M | $829.0M | ||
| Q2 25 | $331.7M | $932.0M | ||
| Q1 25 | $204.8M | $1.3B | ||
| Q4 24 | $549.9M | $315.0M | ||
| Q3 24 | $415.6M | $646.0M | ||
| Q2 24 | $199.4M | $876.0M | ||
| Q1 24 | $100.8M | $1.0B |
总债务FIXM
| Q4 25 | $145.2M | $2.4B | ||
| Q3 25 | $136.0M | $2.4B | ||
| Q2 25 | $73.0M | $2.8B | ||
| Q1 25 | $67.8M | $2.8B | ||
| Q4 24 | $68.3M | $2.8B | ||
| Q3 24 | $62.3M | $3.0B | ||
| Q2 24 | $73.4M | $3.0B | ||
| Q1 24 | $77.0M | $3.0B |
股东权益FIXM
| Q4 25 | $2.4B | $4.3B | ||
| Q3 25 | $2.2B | $4.5B | ||
| Q2 25 | $2.0B | $4.5B | ||
| Q1 25 | $1.8B | $4.6B | ||
| Q4 24 | $1.7B | $4.1B | ||
| Q3 24 | $1.6B | $4.3B | ||
| Q2 24 | $1.5B | $4.2B | ||
| Q1 24 | $1.4B | $4.1B |
总资产FIXM
| Q4 25 | $6.4B | $17.1B | ||
| Q3 25 | $5.8B | $15.6B | ||
| Q2 25 | $5.1B | $16.1B | ||
| Q1 25 | $4.6B | $16.4B | ||
| Q4 24 | $4.7B | $17.3B | ||
| Q3 24 | $4.4B | $15.8B | ||
| Q2 24 | $4.2B | $16.4B | ||
| Q1 24 | $3.9B | $16.2B |
负债/权益比FIXM
| Q4 25 | 0.06× | 0.56× | ||
| Q3 25 | 0.06× | 0.55× | ||
| Q2 25 | 0.04× | 0.62× | ||
| Q1 25 | 0.04× | 0.61× | ||
| Q4 24 | 0.04× | 0.67× | ||
| Q3 24 | 0.04× | 0.70× | ||
| Q2 24 | 0.05× | 0.72× | ||
| Q1 24 | 0.06× | 0.72× |
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 | $468.5M | $-8.0M |
| 自由现金流经营现金流 - 资本支出 | $402.4M | $-101.0M |
| 自由现金流率自由现金流/营收 | 15.2% | -2.1% |
| 资本支出强度资本支出/营收 | 2.5% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.42× | -0.73× |
| 过去12个月自由现金流最近4个季度 | $1.0B | $1.2B |
8季度趋势，按日历期对齐
经营现金流FIXM
| Q4 25 | $468.5M | $-8.0M | ||
| Q3 25 | $553.3M | $319.0M | ||
| Q2 25 | $252.5M | $-64.0M | ||
| Q1 25 | $-88.0M | $1.3B | ||
| Q4 24 | $210.5M | $-167.0M | ||
| Q3 24 | $302.2M | $8.0M | ||
| Q2 24 | $189.9M | $129.0M | ||
| Q1 24 | $146.6M | $1.1B |
自由现金流FIXM
| Q4 25 | $402.4M | $-101.0M | ||
| Q3 25 | $517.9M | $240.0M | ||
| Q2 25 | $221.2M | $-164.0M | ||
| Q1 25 | $-110.2M | $1.2B | ||
| Q4 24 | $169.8M | $-295.0M | ||
| Q3 24 | $280.1M | $-109.0M | ||
| Q2 24 | $166.5M | $-25.0M | ||
| Q1 24 | $121.6M | $1.0B |
自由现金流率FIXM
| Q4 25 | 15.2% | -2.1% | ||
| Q3 25 | 21.1% | 5.0% | ||
| Q2 25 | 10.2% | -3.6% | ||
| Q1 25 | -6.0% | 15.3% | ||
| Q4 24 | 9.1% | -6.2% | ||
| Q3 24 | 15.5% | -2.2% | ||
| Q2 24 | 9.2% | -0.5% | ||
| Q1 24 | 7.9% | 12.3% |
资本支出强度FIXM
| Q4 25 | 2.5% | 2.0% | ||
| Q3 25 | 1.4% | 1.6% | ||
| Q2 25 | 1.4% | 2.2% | ||
| Q1 25 | 1.2% | 1.5% | ||
| Q4 24 | 2.2% | 2.7% | ||
| Q3 24 | 1.2% | 2.4% | ||
| Q2 24 | 1.3% | 3.2% | ||
| Q1 24 | 1.6% | 1.8% |
现金转化率FIXM
| Q4 25 | 1.42× | -0.73× | ||
| Q3 25 | 1.90× | 3.67× | ||
| Q2 25 | 1.09× | -1.68× | ||
| Q1 25 | -0.52× | 3.82× | ||
| Q4 24 | 1.44× | -5.96× | ||
| Q3 24 | 2.07× | 0.05× | ||
| Q2 24 | 1.42× | 2.08× | ||
| Q1 24 | 1.52× | — |
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
FIX
| Electrical Segment | $823.7M | 31% |
| Manufacturing Customer | $542.7M | 21% |
| Existing Building Construction | $491.4M | 19% |
| Healthcare Sector Customer | $220.8M | 8% |
| Service Projects | $153.0M | 6% |
| Education | $137.5M | 5% |
| Government Customer | $131.0M | 5% |
| Office Building Customer | $88.2M | 3% |
| Other Customer | $40.7M | 2% |
| Multi Family And Residential | $33.7M | 1% |
M
| Womens Accessories Shoes Cosmetics And Fragrances | $1.9B | 41% |
| Womens Apparel | $1.1B | 23% |
| Mens And Kids | $1.0B | 22% |
| Home Other | $638.0M | 14% |
| Credit Card Revenues Net | $158.0M | 3% |
| Macys Media Network Revenue Net | $42.0M | 1% |
