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Graham Holdings Co（GHC）与Masco（MAS）财务数据对比。点击上方公司名可切换其他公司
Masco的季度营收约是Graham Holdings Co的1.5倍（$1.9B vs $1.3B），Masco净利率更高（11.9% vs 8.7%，领先3.2%），Masco同比增速更快（6.5% vs 0.4%），过去两年Graham Holdings Co的营收复合增速更高（4.2% vs -4.2%）
Graham Holdings是一家总部位于美国弗吉尼亚州阿灵顿县、在特拉华州注册的多元化综合控股集团，曾持有知名媒体《华盛顿邮报》与《新闻周刊》的所有权，旗下业务覆盖多个领域，在北美市场拥有深厚的行业运营积淀。
美国家居建材企业Masco主营家装及新建住宅市场相关产品，旗下拥有20余家子公司，在全球运营近80座生产工厂，其中美国本土近60座，海外地区超20座。公司1969年于纽交所挂牌上市，后实现快速增长，成功跻身美国财富500强榜单。
GHC vs MAS — 直观对比
营收规模更大
MAS
是对方的1.5倍
$1.3B
营收增速更快
MAS
高出6.1%
0.4%
净利率更高
MAS
高出3.2%
8.7%
两年增速更快
GHC
近两年复合增速
-4.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.9B |
| 净利润 | $108.7M | $228.0M |
| 毛利率 | — | 35.8% |
| 营业利润率 | 3.8% | 16.5% |
| 净利率 | 8.7% | 11.9% |
| 营收同比 | 0.4% | 6.5% |
| 净利润同比 | -80.2% | 14.5% |
| 每股收益（稀释后） | $24.76 | — |
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GHCMAS
| Q1 26 | — | $1.9B | ||
| Q4 25 | $1.3B | $1.8B | ||
| Q3 25 | $1.3B | $1.9B | ||
| Q2 25 | $1.2B | $2.1B | ||
| Q1 25 | $1.2B | $1.8B | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $1.2B | $2.0B | ||
| Q2 24 | $1.2B | $2.1B |
净利润GHCMAS
| Q1 26 | — | $228.0M | ||
| Q4 25 | $108.7M | $165.0M | ||
| Q3 25 | $122.9M | $189.0M | ||
| Q2 25 | $36.7M | $270.0M | ||
| Q1 25 | $23.9M | $186.0M | ||
| Q4 24 | $548.8M | $182.0M | ||
| Q3 24 | $72.5M | $167.0M | ||
| Q2 24 | $-21.0M | $258.0M |
毛利率GHCMAS
| Q1 26 | — | 35.8% | ||
| Q4 25 | — | 33.9% | ||
| Q3 25 | — | 34.2% | ||
| Q2 25 | — | 37.6% | ||
| Q1 25 | — | 35.8% | ||
| Q4 24 | — | 34.8% | ||
| Q3 24 | — | 36.6% | ||
| Q2 24 | — | 37.5% |
营业利润率GHCMAS
| Q1 26 | — | 16.5% | ||
| Q4 25 | 3.8% | 13.8% | ||
| Q3 25 | 5.2% | 15.8% | ||
| Q2 25 | 6.0% | 20.1% | ||
| Q1 25 | 4.1% | 15.9% | ||
| Q4 24 | 5.8% | 15.9% | ||
| Q3 24 | 6.8% | 18.0% | ||
| Q2 24 | 2.2% | 19.0% |
净利率GHCMAS
| Q1 26 | — | 11.9% | ||
| Q4 25 | 8.7% | 9.2% | ||
| Q3 25 | 9.6% | 9.9% | ||
| Q2 25 | 3.0% | 13.2% | ||
| Q1 25 | 2.0% | 10.3% | ||
| Q4 24 | 44.1% | 10.0% | ||
| Q3 24 | 6.0% | 8.4% | ||
| Q2 24 | -1.8% | 12.3% |
每股收益（稀释后）GHCMAS
| Q1 26 | — | — | ||
| Q4 25 | $24.76 | $0.81 | ||
| Q3 25 | $27.91 | $0.90 | ||
| Q2 25 | $8.35 | $1.28 | ||
| Q1 25 | $5.45 | $0.87 | ||
| Q4 24 | $124.05 | $0.85 | ||
| Q3 24 | $16.42 | $0.77 | ||
| Q2 24 | $-4.79 | $1.17 |
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 | $267.0M | — |
| 总债务越低越好 | — | $2.9B |
| 股东权益账面价值 | $4.8B | $27.0M |
| 总资产 | $8.4B | $5.2B |
| 负债/权益比越低杠杆越低 | — | 109.07× |
8季度趋势，按日历期对齐
现金及短期投资GHCMAS
| Q1 26 | — | — | ||
| Q4 25 | $267.0M | $647.0M | ||
| Q3 25 | $190.8M | $559.0M | ||
| Q2 25 | $176.2M | $390.0M | ||
| Q1 25 | $156.7M | $377.0M | ||
| Q4 24 | $260.9M | $634.0M | ||
| Q3 24 | $244.4M | $646.0M | ||
| Q2 24 | $140.7M | $398.0M |
总债务GHCMAS
| Q1 26 | — | $2.9B | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益GHCMAS
| Q1 26 | — | $27.0M | ||
| Q4 25 | $4.8B | $-185.0M | ||
| Q3 25 | $4.5B | $-78.0M | ||
| Q2 25 | $4.4B | $-84.0M | ||
| Q1 25 | $4.3B | $-254.0M | ||
| Q4 24 | $4.3B | $-279.0M | ||
| Q3 24 | $4.0B | $-88.0M | ||
| Q2 24 | $4.0B | $-26.0M |
总资产GHCMAS
| Q1 26 | — | $5.2B | ||
| Q4 25 | $8.4B | $5.2B | ||
| Q3 25 | $7.9B | $5.3B | ||
| Q2 25 | $7.6B | $5.3B | ||
| Q1 25 | $7.6B | $5.1B | ||
| Q4 24 | $7.7B | $5.0B | ||
| Q3 24 | $7.4B | $5.3B | ||
| Q2 24 | $7.2B | $5.4B |
负债/权益比GHCMAS
| Q1 26 | — | 109.07× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $28.3M | — |
| 自由现金流经营现金流 - 资本支出 | $5.0M | — |
| 自由现金流率自由现金流/营收 | 0.4% | — |
| 资本支出强度资本支出/营收 | 1.9% | 1.8% |
| 现金转化率经营现金流/净利润 | 0.26× | — |
| 过去12个月自由现金流最近4个季度 | $275.3M | — |
8季度趋势，按日历期对齐
经营现金流GHCMAS
| Q1 26 | — | — | ||
| Q4 25 | $28.3M | $418.0M | ||
| Q3 25 | $178.1M | $456.0M | ||
| Q2 25 | $94.8M | $306.0M | ||
| Q1 25 | $46.0M | $-158.0M | ||
| Q4 24 | $116.3M | $407.0M | ||
| Q3 24 | $237.6M | $416.0M | ||
| Q2 24 | $52.0M | $346.0M |
自由现金流GHCMAS
| Q1 26 | — | — | ||
| Q4 25 | $5.0M | $371.0M | ||
| Q3 25 | $161.8M | $415.0M | ||
| Q2 25 | $78.0M | $270.0M | ||
| Q1 25 | $30.5M | $-190.0M | ||
| Q4 24 | $91.1M | $351.0M | ||
| Q3 24 | $219.4M | $378.0M | ||
| Q2 24 | $33.7M | $303.0M |
自由现金流率GHCMAS
| Q1 26 | — | — | ||
| Q4 25 | 0.4% | 20.7% | ||
| Q3 25 | 12.6% | 21.6% | ||
| Q2 25 | 6.4% | 13.2% | ||
| Q1 25 | 2.6% | -10.5% | ||
| Q4 24 | 7.3% | 19.2% | ||
| Q3 24 | 18.2% | 19.1% | ||
| Q2 24 | 2.8% | 14.5% |
资本支出强度GHCMAS
| Q1 26 | — | 1.8% | ||
| Q4 25 | 1.9% | 2.6% | ||
| Q3 25 | 1.3% | 2.1% | ||
| Q2 25 | 1.4% | 1.8% | ||
| Q1 25 | 1.3% | 1.8% | ||
| Q4 24 | 2.0% | 3.1% | ||
| Q3 24 | 1.5% | 1.9% | ||
| Q2 24 | 1.5% | 2.1% |
现金转化率GHCMAS
| Q1 26 | — | — | ||
| Q4 25 | 0.26× | 2.53× | ||
| Q3 25 | 1.45× | 2.41× | ||
| Q2 25 | 2.58× | 1.13× | ||
| Q1 25 | 1.93× | -0.85× | ||
| Q4 24 | 0.21× | 2.24× | ||
| Q3 24 | 3.28× | 2.49× | ||
| Q2 24 | — | 1.34× |
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
GHC
| Products | $602.7M | 48% |
| Kaplan International | $251.9M | 20% |
| Manufacturing | $117.8M | 9% |
| Television Broadcasting | $110.5M | 9% |
| Higher Education | $83.8M | 7% |
| Supplemental Education | $74.9M | 6% |
| Related Party | $4.4M | 0% |
MAS
暂无分部数据
