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Freedom Holding Corp.（FRHC）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
美泰的季度营收约是Freedom Holding Corp.的1.4倍（$862.2M vs $628.6M），Freedom Holding Corp.净利率更高（12.1% vs 7.1%，领先5.1%），美泰同比增速更快（4.3% vs -4.1%），Freedom Holding Corp.自由现金流更多（$651.7M vs $-88.1M），过去两年Freedom Holding Corp.的营收复合增速更高（16.3% vs -10.6%）
Freedom Holding Corp.是在美国内华达州注册的投资集团，业务覆盖零售证券经纪交易、资产管理、资本市场服务、投研咨询、投行承销、抵押贷款、保险、银行及其他消费金融服务，核心布局美股、欧洲及以哈萨克斯坦为核心的中亚市场。
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。
FRHC vs MAT — 直观对比
营收规模更大
MAT
是对方的1.4倍
$628.6M
营收增速更快
MAT
高出8.4%
-4.1%
净利率更高
FRHC
高出5.1%
7.1%
自由现金流更多
FRHC
多$739.8M
$-88.1M
两年增速更快
FRHC
近两年复合增速
-10.6%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $628.6M | $862.2M |
| 净利润 | $76.2M | $61.0M |
| 毛利率 | 96.0% | 44.9% |
| 营业利润率 | 14.9% | — |
| 净利率 | 12.1% | 7.1% |
| 营收同比 | -4.1% | 4.3% |
| 净利润同比 | -2.6% | 251.4% |
| 每股收益（稀释后） | $1.25 | $0.20 |
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FRHCMAT
| Q1 26 | — | $862.2M | ||
| Q4 25 | $628.6M | $1.8B | ||
| Q3 25 | $526.1M | $1.7B | ||
| Q2 25 | $533.4M | $1.0B | ||
| Q1 25 | $363.7M | $826.6M | ||
| Q4 24 | $655.2M | $1.6B | ||
| Q3 24 | $580.9M | $1.8B | ||
| Q2 24 | $450.7M | $1.1B |
净利润FRHCMAT
| Q1 26 | — | $61.0M | ||
| Q4 25 | $76.2M | $106.2M | ||
| Q3 25 | $38.7M | $278.4M | ||
| Q2 25 | $30.4M | $53.4M | ||
| Q1 25 | $-142.7M | $-40.3M | ||
| Q4 24 | $78.3M | $140.9M | ||
| Q3 24 | $114.7M | $372.4M | ||
| Q2 24 | $34.4M | $56.9M |
毛利率FRHCMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | 96.0% | 45.9% | ||
| Q3 25 | 97.1% | 50.0% | ||
| Q2 25 | 97.4% | 50.9% | ||
| Q1 25 | 96.6% | 49.4% | ||
| Q4 24 | 98.6% | 50.7% | ||
| Q3 24 | 99.1% | 53.1% | ||
| Q2 24 | 99.0% | 49.2% |
营业利润率FRHCMAT
| Q1 26 | — | — | ||
| Q4 25 | 14.9% | 8.0% | ||
| Q3 25 | 11.5% | 21.9% | ||
| Q2 25 | 7.6% | 7.7% | ||
| Q1 25 | -42.7% | -6.4% | ||
| Q4 24 | 15.0% | 9.6% | ||
| Q3 24 | 22.1% | 26.5% | ||
| Q2 24 | 9.2% | 7.7% |
净利率FRHCMAT
| Q1 26 | — | 7.1% | ||
| Q4 25 | 12.1% | 6.0% | ||
| Q3 25 | 7.4% | 16.0% | ||
| Q2 25 | 5.7% | 5.2% | ||
| Q1 25 | -39.2% | -4.9% | ||
| Q4 24 | 11.9% | 8.6% | ||
| Q3 24 | 19.7% | 20.2% | ||
| Q2 24 | 7.6% | 5.3% |
每股收益（稀释后）FRHCMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | $1.25 | $0.32 | ||
| Q3 25 | $0.63 | $0.88 | ||
| Q2 25 | $0.50 | $0.16 | ||
| Q1 25 | $-2.35 | $-0.12 | ||
| Q4 24 | $1.29 | $0.40 | ||
| Q3 24 | $1.89 | $1.09 | ||
| Q2 24 | $0.57 | $0.17 |
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 | $869.2M | $866.0M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $1.4B | $2.1B |
| 总资产 | $12.4B | $6.3B |
| 负债/权益比越低杠杆越低 | — | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资FRHCMAT
| Q1 26 | — | $866.0M | ||
| Q4 25 | $869.2M | $1.2B | ||
| Q3 25 | $636.0M | $691.9M | ||
| Q2 25 | $567.9M | $870.5M | ||
| Q1 25 | $837.3M | $1.2B | ||
| Q4 24 | $577.9M | $1.4B | ||
| Q3 24 | $569.2M | $723.5M | ||
| Q2 24 | $718.7M | $722.4M |
总债务FRHCMAT
| Q1 26 | — | $2.3B | ||
| 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 |
股东权益FRHCMAT
| Q1 26 | — | $2.1B | ||
| Q4 25 | $1.4B | $2.2B | ||
| Q3 25 | $1.2B | $2.3B | ||
| Q2 25 | $1.2B | $2.2B | ||
| Q1 25 | $1.2B | $2.1B | ||
| Q4 24 | $1.3B | $2.3B | ||
| Q3 24 | $1.3B | $2.3B | ||
| Q2 24 | $1.1B | $2.0B |
总资产FRHCMAT
| Q1 26 | — | $6.3B | ||
| Q4 25 | $12.4B | $6.6B | ||
| Q3 25 | $10.3B | $6.6B | ||
| Q2 25 | $9.7B | $6.2B | ||
| Q1 25 | $9.9B | $6.2B | ||
| Q4 24 | $9.1B | $6.5B | ||
| Q3 24 | $8.8B | $6.5B | ||
| Q2 24 | $8.5B | $5.9B |
负债/权益比FRHCMAT
| Q1 26 | — | 1.11× | ||
| 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× |
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 | $717.8M | — |
| 自由现金流经营现金流 - 资本支出 | $651.7M | $-88.1M |
| 自由现金流率自由现金流/营收 | 103.7% | -10.2% |
| 资本支出强度资本支出/营收 | 10.5% | 7.6% |
| 现金转化率经营现金流/净利润 | 9.42× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流FRHCMAT
| Q1 26 | — | — | ||
| Q4 25 | $717.8M | $796.6M | ||
| Q3 25 | $535.3M | $72.0M | ||
| Q2 25 | $480.8M | $-300.1M | ||
| Q1 25 | $1.3B | $24.8M | ||
| Q4 24 | $-72.8M | $862.1M | ||
| Q3 24 | $-438.0M | $155.8M | ||
| Q2 24 | $854.1M | $-252.9M |
自由现金流FRHCMAT
| Q1 26 | — | $-88.1M | ||
| Q4 25 | $651.7M | — | ||
| Q3 25 | $456.4M | — | ||
| Q2 25 | $450.0M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-92.7M | — | ||
| Q3 24 | $-447.5M | — | ||
| Q2 24 | $829.9M | — |
自由现金流率FRHCMAT
| Q1 26 | — | -10.2% | ||
| Q4 25 | 103.7% | — | ||
| Q3 25 | 86.7% | — | ||
| Q2 25 | 84.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -14.1% | — | ||
| Q3 24 | -77.0% | — | ||
| Q2 24 | 184.1% | — |
资本支出强度FRHCMAT
| Q1 26 | — | 7.6% | ||
| Q4 25 | 10.5% | — | ||
| Q3 25 | 15.0% | — | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 5.4% | — |
现金转化率FRHCMAT
| Q1 26 | — | — | ||
| Q4 25 | 9.42× | 7.50× | ||
| Q3 25 | 13.82× | 0.26× | ||
| Q2 25 | 15.82× | -5.62× | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.93× | 6.12× | ||
| Q3 24 | -3.82× | 0.42× | ||
| Q2 24 | 24.83× | -4.45× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
