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GRAPHIC PACKAGING HOLDING CO（GPK）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
GRAPHIC PACKAGING HOLDING CO的季度营收约是美泰的2.4倍（$2.1B vs $862.2M），美泰净利率更高（7.1% vs 3.4%，领先3.7%），美泰同比增速更快（4.3% vs 0.2%），过去两年GRAPHIC PACKAGING HOLDING CO的营收复合增速更高（-3.5% vs -10.6%）
Graphic Packaging Holding是总部位于美国佐治亚州亚特兰大的世界500强企业，专注于设计和生产商用产品包装解决方案，主营纸板及折叠纸盒业务，产品广泛应用于饮料、包装食品等各类热门消费品领域，在美国多州运营采用回收原料的纸板工厂。
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。
GPK vs MAT — 直观对比
营收规模更大
GPK
是对方的2.4倍
$862.2M
营收增速更快
MAT
高出4.1%
0.2%
净利率更高
MAT
高出3.7%
3.4%
两年增速更快
GPK
近两年复合增速
-10.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $862.2M |
| 净利润 | $71.0M | $61.0M |
| 毛利率 | 14.1% | 44.9% |
| 营业利润率 | 7.4% | — |
| 净利率 | 3.4% | 7.1% |
| 营收同比 | 0.2% | 4.3% |
| 净利润同比 | -48.6% | 251.4% |
| 每股收益（稀释后） | $0.24 | $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GPKMAT
| Q1 26 | — | $862.2M | ||
| Q4 25 | $2.1B | $1.8B | ||
| Q3 25 | $2.2B | $1.7B | ||
| Q2 25 | $2.2B | $1.0B | ||
| Q1 25 | $2.1B | $826.6M | ||
| Q4 24 | $2.1B | $1.6B | ||
| Q3 24 | $2.2B | $1.8B | ||
| Q2 24 | $2.2B | $1.1B |
净利润GPKMAT
| Q1 26 | — | $61.0M | ||
| Q4 25 | $71.0M | $106.2M | ||
| Q3 25 | $142.0M | $278.4M | ||
| Q2 25 | $104.0M | $53.4M | ||
| Q1 25 | $127.0M | $-40.3M | ||
| Q4 24 | $138.0M | $140.9M | ||
| Q3 24 | $165.0M | $372.4M | ||
| Q2 24 | $190.0M | $56.9M |
毛利率GPKMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | 14.1% | 45.9% | ||
| Q3 25 | 19.6% | 50.0% | ||
| Q2 25 | 18.7% | 50.9% | ||
| Q1 25 | 20.6% | 49.4% | ||
| Q4 24 | 21.4% | 50.7% | ||
| Q3 24 | 22.3% | 53.1% | ||
| Q2 24 | 21.2% | 49.2% |
营业利润率GPKMAT
| Q1 26 | — | — | ||
| Q4 25 | 7.4% | 8.0% | ||
| Q3 25 | 10.7% | 21.9% | ||
| Q2 25 | 8.8% | 7.7% | ||
| Q1 25 | 10.5% | -6.4% | ||
| Q4 24 | 11.4% | 9.6% | ||
| Q3 24 | 12.6% | 26.5% | ||
| Q2 24 | 14.5% | 7.7% |
净利率GPKMAT
| Q1 26 | — | 7.1% | ||
| Q4 25 | 3.4% | 6.0% | ||
| Q3 25 | 6.5% | 16.0% | ||
| Q2 25 | 4.7% | 5.2% | ||
| Q1 25 | 6.0% | -4.9% | ||
| Q4 24 | 6.6% | 8.6% | ||
| Q3 24 | 7.5% | 20.2% | ||
| Q2 24 | 8.5% | 5.3% |
每股收益（稀释后）GPKMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | $0.24 | $0.32 | ||
| Q3 25 | $0.48 | $0.88 | ||
| Q2 25 | $0.34 | $0.16 | ||
| Q1 25 | $0.42 | $-0.12 | ||
| Q4 24 | $0.46 | $0.40 | ||
| Q3 24 | $0.55 | $1.09 | ||
| Q2 24 | $0.62 | $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 | $261.0M | $866.0M |
| 总债务越低越好 | $5.0B | $2.3B |
| 股东权益账面价值 | $3.3B | $2.1B |
| 总资产 | $11.8B | $6.3B |
| 负债/权益比越低杠杆越低 | 1.51× | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资GPKMAT
| Q1 26 | — | $866.0M | ||
| Q4 25 | $261.0M | $1.2B | ||
| Q3 25 | $120.0M | $691.9M | ||
| Q2 25 | $120.0M | $870.5M | ||
| Q1 25 | $129.0M | $1.2B | ||
| Q4 24 | $157.0M | $1.4B | ||
| Q3 24 | $126.0M | $723.5M | ||
| Q2 24 | $125.0M | $722.4M |
总债务GPKMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | $5.0B | $2.3B | ||
| Q3 25 | $5.5B | $2.3B | ||
| Q2 25 | $5.4B | $2.3B | ||
| Q1 25 | $5.7B | $2.3B | ||
| Q4 24 | $5.1B | $2.3B | ||
| Q3 24 | $5.4B | $2.3B | ||
| Q2 24 | $4.9B | $2.3B |
股东权益GPKMAT
| Q1 26 | — | $2.1B | ||
| Q4 25 | $3.3B | $2.2B | ||
| Q3 25 | $3.3B | $2.3B | ||
| Q2 25 | $3.2B | $2.2B | ||
| Q1 25 | $3.2B | $2.1B | ||
| Q4 24 | $3.0B | $2.3B | ||
| Q3 24 | $3.0B | $2.3B | ||
| Q2 24 | $2.8B | $2.0B |
总资产GPKMAT
| Q1 26 | — | $6.3B | ||
| Q4 25 | $11.8B | $6.6B | ||
| Q3 25 | $11.9B | $6.6B | ||
| Q2 25 | $11.8B | $6.2B | ||
| Q1 25 | $11.5B | $6.2B | ||
| Q4 24 | $11.1B | $6.5B | ||
| Q3 24 | $11.2B | $6.5B | ||
| Q2 24 | $10.8B | $5.9B |
负债/权益比GPKMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | 1.51× | 1.04× | ||
| Q3 25 | 1.67× | 1.03× | ||
| Q2 25 | 1.68× | 1.08× | ||
| Q1 25 | 1.80× | 1.10× | ||
| Q4 24 | 1.71× | 1.03× | ||
| Q3 24 | 1.79× | 1.01× | ||
| Q2 24 | 1.75× | 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 | $521.0M | — |
| 自由现金流经营现金流 - 资本支出 | — | $-88.1M |
| 自由现金流率自由现金流/营收 | — | -10.2% |
| 资本支出强度资本支出/营收 | — | 7.6% |
| 现金转化率经营现金流/净利润 | 7.34× | — |
| 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GPKMAT
| Q1 26 | — | — | ||
| Q4 25 | $521.0M | $796.6M | ||
| Q3 25 | $227.0M | $72.0M | ||
| Q2 25 | $267.0M | $-300.1M | ||
| Q1 25 | $-174.0M | $24.8M | ||
| Q4 24 | $489.0M | $862.1M | ||
| Q3 24 | $187.0M | $155.8M | ||
| Q2 24 | $161.0M | $-252.9M |
自由现金流GPKMAT
| Q1 26 | — | $-88.1M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
自由现金流率GPKMAT
| Q1 26 | — | -10.2% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
资本支出强度GPKMAT
| Q1 26 | — | 7.6% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率GPKMAT
| Q1 26 | — | — | ||
| Q4 25 | 7.34× | 7.50× | ||
| Q3 25 | 1.60× | 0.26× | ||
| Q2 25 | 2.57× | -5.62× | ||
| Q1 25 | -1.37× | — | ||
| Q4 24 | 3.54× | 6.12× | ||
| Q3 24 | 1.13× | 0.42× | ||
| Q2 24 | 0.85× | -4.45× |
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
GPK
| Americas Paperboard Packaging | $1.4B | 68% |
| Other | $667.0M | 32% |
MAT
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