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FIRST MERCHANTS CORP（FRME）与MARCUS CORP（MCS）财务数据对比。点击上方公司名可切换其他公司
MARCUS CORP的季度营收约是FIRST MERCHANTS CORP的1.2倍（$193.5M vs $157.1M），过去两年MARCUS CORP的营收复合增速更高（18.2% vs -0.9%）
第一商人集团是总部位于美国印第安纳州曼西的金融控股公司，业务覆盖印第安纳州中部地区，旗下拥有第一商人银行、第一商人私人财富顾问两大板块，在纳斯达克上市，股票代码为FRME。截至2023年3月，集团总资产达182亿美元，为客户提供商业银行、个人银行及投资顾问服务。
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。
FRME vs MCS — 直观对比
营收规模更大
MCS
是对方的1.2倍
$157.1M
两年增速更快
MCS
近两年复合增速
-0.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $157.1M | $193.5M |
| 净利润 | $28.2M | — |
| 毛利率 | — | — |
| 营业利润率 | — | 0.9% |
| 净利率 | 17.9% | — |
| 营收同比 | — | 2.8% |
| 净利润同比 | -49.1% | — |
| 每股收益（稀释后） | $0.45 | — |
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FRMEMCS
| Q1 26 | $157.1M | — | ||
| Q4 25 | $172.2M | $193.5M | ||
| Q3 25 | $166.1M | $210.2M | ||
| Q2 25 | $164.3M | $206.0M | ||
| Q1 25 | $160.3M | $148.8M | ||
| Q4 24 | $177.1M | $188.3M | ||
| Q3 24 | $156.0M | $232.7M | ||
| Q2 24 | $159.9M | $176.0M |
净利润FRMEMCS
| Q1 26 | $28.2M | — | ||
| Q4 25 | $57.1M | — | ||
| Q3 25 | $56.8M | $16.2M | ||
| Q2 25 | $56.8M | $7.3M | ||
| Q1 25 | $55.3M | $-16.8M | ||
| Q4 24 | $64.3M | $986.0K | ||
| Q3 24 | $49.2M | $23.3M | ||
| Q2 24 | $39.9M | $-20.2M |
营业利润率FRMEMCS
| Q1 26 | — | — | ||
| Q4 25 | 38.0% | 0.9% | ||
| Q3 25 | 39.3% | 10.8% | ||
| Q2 25 | 39.6% | 6.3% | ||
| Q1 25 | 39.4% | -13.7% | ||
| Q4 24 | 43.3% | -1.2% | ||
| Q3 24 | 36.1% | 14.1% | ||
| Q2 24 | 27.5% | 1.3% |
净利率FRMEMCS
| Q1 26 | 17.9% | — | ||
| Q4 25 | 33.1% | — | ||
| Q3 25 | 34.2% | 7.7% | ||
| Q2 25 | 34.6% | 3.6% | ||
| Q1 25 | 34.5% | -11.3% | ||
| Q4 24 | 36.3% | 0.5% | ||
| Q3 24 | 31.5% | 10.0% | ||
| Q2 24 | 25.0% | -11.5% |
每股收益（稀释后）FRMEMCS
| Q1 26 | $0.45 | — | ||
| Q4 25 | $0.98 | — | ||
| Q3 25 | $0.98 | — | ||
| Q2 25 | $0.98 | — | ||
| Q1 25 | $0.94 | — | ||
| Q4 24 | $1.09 | — | ||
| Q3 24 | $0.84 | — | ||
| Q2 24 | $0.68 | — |
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 | — | $23.4M |
| 总债务越低越好 | — | $159.0M |
| 股东权益账面价值 | $2.7B | $457.4M |
| 总资产 | $21.1B | $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FRMEMCS
| Q1 26 | — | — | ||
| Q4 25 | — | $23.4M | ||
| Q3 25 | — | $7.4M | ||
| Q2 25 | — | $14.9M | ||
| Q1 25 | — | $11.9M | ||
| Q4 24 | — | $40.8M | ||
| Q3 24 | — | $28.4M | ||
| Q2 24 | — | $32.8M |
总债务FRMEMCS
| 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 | ||
| Q2 24 | — | $175.7M |
股东权益FRMEMCS
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.5B | $457.4M | ||
| Q3 25 | $2.4B | $454.3M | ||
| Q2 25 | $2.3B | $448.4M | ||
| Q1 25 | $2.3B | $441.8M | ||
| Q4 24 | $2.3B | $464.9M | ||
| Q3 24 | $2.3B | $462.3M | ||
| Q2 24 | $2.2B | $449.4M |
总资产FRMEMCS
| Q1 26 | $21.1B | — | ||
| Q4 25 | $19.0B | $1.0B | ||
| Q3 25 | $18.8B | $1.0B | ||
| Q2 25 | $18.6B | $1.0B | ||
| Q1 25 | $18.4B | $1.0B | ||
| Q4 24 | $18.3B | $1.0B | ||
| Q3 24 | $18.3B | $1.0B | ||
| Q2 24 | $18.3B | $1.1B |
负债/权益比FRMEMCS
| 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× | ||
| Q2 24 | — | 0.39× |
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 | — | $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 | — | — |
| 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FRMEMCS
| Q1 26 | — | — | ||
| Q4 25 | $283.6M | $48.8M | ||
| Q3 25 | $87.6M | $39.1M | ||
| Q2 25 | $53.7M | $31.6M | ||
| Q1 25 | $61.7M | $-35.3M | ||
| Q4 24 | $266.2M | $52.6M | ||
| Q3 24 | $76.8M | $30.5M | ||
| Q2 24 | $63.0M | $36.0M |
自由现金流FRMEMCS
| Q1 26 | — | — | ||
| Q4 25 | — | $26.4M | ||
| Q3 25 | — | $18.2M | ||
| Q2 25 | — | $14.7M | ||
| Q1 25 | — | $-58.3M | ||
| Q4 24 | — | $27.1M | ||
| Q3 24 | — | $12.0M | ||
| Q2 24 | — | $16.1M |
自由现金流率FRMEMCS
| Q1 26 | — | — | ||
| Q4 25 | — | 13.6% | ||
| Q3 25 | — | 8.7% | ||
| Q2 25 | — | 7.1% | ||
| Q1 25 | — | -39.2% | ||
| Q4 24 | — | 14.4% | ||
| Q3 24 | — | 5.2% | ||
| Q2 24 | — | 9.2% |
资本支出强度FRMEMCS
| Q1 26 | — | — | ||
| Q4 25 | — | 11.6% | ||
| Q3 25 | — | 9.9% | ||
| Q2 25 | — | 8.2% | ||
| Q1 25 | — | 15.5% | ||
| Q4 24 | — | 13.5% | ||
| Q3 24 | — | 7.9% | ||
| Q2 24 | — | 11.3% |
现金转化率FRMEMCS
| Q1 26 | — | — | ||
| Q4 25 | 4.97× | — | ||
| Q3 25 | 1.54× | 2.41× | ||
| Q2 25 | 0.94× | 4.32× | ||
| Q1 25 | 1.11× | — | ||
| Q4 24 | 4.14× | 53.31× | ||
| Q3 24 | 1.56× | 1.31× | ||
| Q2 24 | 1.58× | — |
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
FRME
| Net Interest Income | $151.3M | 96% |
| Noninterest Income | $5.8M | 4% |
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
