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Hyperscale Data, Inc.（GPUS）与MP Materials Corp.（MP）财务数据对比。点击上方公司名可切换其他公司
MP Materials Corp.的季度营收约是Hyperscale Data, Inc.的3.4倍（$90.6M vs $26.9M），MP Materials Corp.净利率更高（-8.8% vs -112.0%，领先103.2%），MP Materials Corp.同比增速更快（49.1% vs 38.4%），过去两年MP Materials Corp.的营收复合增速更高（70.3% vs -16.3%）
Hyperscale Data, Inc.主要提供GPU加速计算基础设施及云解决方案，服务于AI开发、大数据处理、高性能计算领域，客户覆盖北美及亚太地区的AI初创企业、大型科技公司与云服务提供商，为复杂数据处理需求交付可扩展的高效计算资源。
MP Materials Corp.是总部位于美国的稀土材料生产商，拥有并运营加利福尼亚州芒廷帕斯矿，这是西半球唯一在产的稀土开采及加工设施，所产核心材料可广泛应用于电动汽车、风力发电机、国防工业等多个关键领域。
GPUS vs MP — 直观对比
营收规模更大
MP
是对方的3.4倍
$26.9M
营收增速更快
MP
高出10.7%
38.4%
净利率更高
MP
高出103.2%
-112.0%
两年增速更快
MP
近两年复合增速
-16.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $26.9M | $90.6M |
| 净利润 | $-30.1M | $-8.0M |
| 毛利率 | 14.5% | — |
| 营业利润率 | -117.8% | — |
| 净利率 | -112.0% | -8.8% |
| 营收同比 | 38.4% | 49.1% |
| 净利润同比 | -6670.3% | 64.8% |
| 每股收益（稀释后） | — | $-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GPUSMP
| Q1 26 | — | $90.6M | ||
| Q4 25 | $26.9M | $52.7M | ||
| Q3 25 | $24.3M | $53.6M | ||
| Q2 25 | $25.9M | $57.4M | ||
| Q1 25 | $25.0M | $60.8M | ||
| Q4 24 | $19.4M | $61.0M | ||
| Q3 24 | $31.1M | $62.9M | ||
| Q2 24 | $17.8M | $31.3M |
净利润GPUSMP
| Q1 26 | — | $-8.0M | ||
| Q4 25 | $-30.1M | $9.4M | ||
| Q3 25 | $-13.0M | $-41.8M | ||
| Q2 25 | $-19.1M | $-30.9M | ||
| Q1 25 | $-4.2M | $-22.6M | ||
| Q4 24 | $-445.0K | $-22.3M | ||
| Q3 24 | $-25.5M | $-25.5M | ||
| Q2 24 | $-33.9M | $-34.1M |
毛利率GPUSMP
| Q1 26 | — | — | ||
| Q4 25 | 14.5% | — | ||
| Q3 25 | 25.8% | — | ||
| Q2 25 | 23.7% | — | ||
| Q1 25 | 21.1% | — | ||
| Q4 24 | 6.5% | — | ||
| Q3 24 | 27.5% | — | ||
| Q2 24 | -21.3% | — |
营业利润率GPUSMP
| Q1 26 | — | — | ||
| Q4 25 | -117.8% | -7.0% | ||
| Q3 25 | -57.8% | -125.2% | ||
| Q2 25 | -39.2% | -76.5% | ||
| Q1 25 | -25.5% | -57.2% | ||
| Q4 24 | -46.8% | -72.1% | ||
| Q3 24 | -79.2% | -62.8% | ||
| Q2 24 | -151.4% | -171.1% |
净利率GPUSMP
| Q1 26 | — | -8.8% | ||
| Q4 25 | -112.0% | 17.9% | ||
| Q3 25 | -53.5% | -78.0% | ||
| Q2 25 | -73.7% | -53.8% | ||
| Q1 25 | -16.8% | -37.2% | ||
| Q4 24 | -2.3% | -36.6% | ||
| Q3 24 | -82.3% | -40.5% | ||
| Q2 24 | -190.7% | -108.9% |
每股收益（稀释后）GPUSMP
| Q1 26 | — | $-0.04 | ||
| Q4 25 | — | $0.07 | ||
| Q3 25 | $-0.39 | $-0.24 | ||
| Q2 25 | $-2.66 | $-0.19 | ||
| Q1 25 | — | $-0.14 | ||
| Q4 24 | $-8.78 | $-0.12 | ||
| Q3 24 | $-24.82 | $-0.16 | ||
| Q2 24 | $-37.81 | $-0.21 |
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 | $13.1M | $1.7B |
| 总债务越低越好 | $83.1M | $1.0B |
| 股东权益账面价值 | $119.8M | $2.0B |
| 总资产 | $313.7M | $3.8B |
| 负债/权益比越低杠杆越低 | 0.69× | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资GPUSMP
| Q1 26 | — | $1.7B | ||
| Q4 25 | $13.1M | $1.2B | ||
| Q3 25 | $24.8M | $1.1B | ||
| Q2 25 | $5.9M | $261.5M | ||
| Q1 25 | $4.2M | $198.3M | ||
| Q4 24 | $4.5M | $282.4M | ||
| Q3 24 | $7.9M | $284.4M | ||
| Q2 24 | $9.6M | $295.6M |
总债务GPUSMP
| Q1 26 | — | $1.0B | ||
| Q4 25 | $83.1M | $998.7M | ||
| Q3 25 | $80.0M | $997.3M | ||
| Q2 25 | $88.5M | $910.8M | ||
| Q1 25 | $92.8M | $909.8M | ||
| Q4 24 | $96.7M | $908.7M | ||
| Q3 24 | $104.8M | — | ||
| Q2 24 | $106.8M | — |
股东权益GPUSMP
| Q1 26 | — | $2.0B | ||
| Q4 25 | $119.8M | $2.0B | ||
| Q3 25 | $55.9M | $2.0B | ||
| Q2 25 | $5.5M | $1.0B | ||
| Q1 25 | $6.3M | $1.0B | ||
| Q4 24 | $8.6M | $1.1B | ||
| Q3 24 | $2.7M | $1.1B | ||
| Q2 24 | $26.7M | $1.1B |
总资产GPUSMP
| Q1 26 | — | $3.8B | ||
| Q4 25 | $313.7M | $3.9B | ||
| Q3 25 | $242.4M | $3.8B | ||
| Q2 25 | $213.5M | $2.3B | ||
| Q1 25 | $218.5M | $2.4B | ||
| Q4 24 | $220.8M | $2.3B | ||
| Q3 24 | $231.5M | $2.3B | ||
| Q2 24 | $270.8M | $2.4B |
负债/权益比GPUSMP
| Q1 26 | — | 0.51× | ||
| Q4 25 | 0.69× | 0.50× | ||
| Q3 25 | 1.43× | 0.51× | ||
| Q2 25 | 16.06× | 0.90× | ||
| Q1 25 | 14.71× | 0.88× | ||
| Q4 24 | 11.19× | 0.86× | ||
| Q3 24 | 38.41× | — | ||
| Q2 24 | 4.00× | — |
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 | $-37.7M | $-1.9M |
| 自由现金流经营现金流 - 资本支出 | $-56.2M | — |
| 自由现金流率自由现金流/营收 | -208.7% | — |
| 资本支出强度资本支出/营收 | 68.6% | — |
| 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 | $-87.1M | — |
8季度趋势，按日历期对齐
经营现金流GPUSMP
| Q1 26 | — | $-1.9M | ||
| Q4 25 | $-37.7M | $-46.9M | ||
| Q3 25 | $-17.8M | $-42.0M | ||
| Q2 25 | $-3.1M | $-3.7M | ||
| Q1 25 | $-4.0M | $-63.2M | ||
| Q4 24 | $-9.2M | $30.5M | ||
| Q3 24 | $3.7M | $-6.8M | ||
| Q2 24 | $-3.7M | $30.8M |
自由现金流GPUSMP
| Q1 26 | — | — | ||
| Q4 25 | $-56.2M | $-109.3M | ||
| Q3 25 | $-20.6M | $-92.5M | ||
| Q2 25 | $-3.5M | $-32.7M | ||
| Q1 25 | $-6.8M | $-93.7M | ||
| Q4 24 | $-9.3M | $-11.2M | ||
| Q3 24 | $2.6M | $-53.3M | ||
| Q2 24 | $-5.9M | $-15.6M |
自由现金流率GPUSMP
| Q1 26 | — | — | ||
| Q4 25 | -208.7% | -207.4% | ||
| Q3 25 | -84.5% | -172.8% | ||
| Q2 25 | -13.5% | -56.9% | ||
| Q1 25 | -27.3% | -154.0% | ||
| Q4 24 | -47.6% | -18.3% | ||
| Q3 24 | 8.4% | -84.7% | ||
| Q2 24 | -33.4% | -50.1% |
资本支出强度GPUSMP
| Q1 26 | — | — | ||
| Q4 25 | 68.6% | 118.5% | ||
| Q3 25 | 11.5% | 94.3% | ||
| Q2 25 | 1.5% | 50.5% | ||
| Q1 25 | 11.5% | 50.1% | ||
| Q4 24 | 0.3% | 68.3% | ||
| Q3 24 | 3.6% | 73.8% | ||
| Q2 24 | 12.6% | 148.7% |
现金转化率GPUSMP
| Q1 26 | — | — | ||
| Q4 25 | — | -4.97× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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
GPUS
| Transferred Over Time | $10.4M | 39% |
| Revenue From Mined Crypto Assets At Sentinum Owned And Operated Facilities | $5.8M | 21% |
| Hotel And Real Estate Operations | $4.8M | 18% |
| Other | $4.0M | 15% |
| Turn On Green | $2.0M | 7% |
MP
| Materials Segment | $72.2M | 80% |
| Magnetics Segment | $21.1M | 23% |
