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Globalstar, Inc.（GSAT）与Mayville Engineering Company, Inc.（MEC）财务数据对比。点击上方公司名可切换其他公司
Mayville Engineering Company, Inc.的季度营收约是Globalstar, Inc.的1.9倍（$134.3M vs $72.0M），Mayville Engineering Company, Inc.净利率更高（-3.2% vs -16.1%，领先12.9%），Globalstar, Inc.同比增速更快（17.6% vs 10.7%），过去两年Globalstar, Inc.的营收复合增速更高（12.9% vs -8.8%）
Globalstar Inc.是一家美国电信企业，运营近地轨道卫星星座，可提供卫星电话、低速数据传输及对地观测服务，其第二代卫星星座由25颗卫星组成，相关服务可覆盖全球大部分区域的通信及遥感需求。
Mayville Engineering Company（MEC）是总部位于美国的领先金属零部件、装配组件及定制工程解决方案供应商，主要服务农业、建筑、商用运输、国防、动力运动等领域的原始设备制造商客户，提供从原型开发到大规模量产的全流程服务。
GSAT vs MEC — 直观对比
营收规模更大
MEC
是对方的1.9倍
$72.0M
营收增速更快
GSAT
高出6.9%
10.7%
净利率更高
MEC
高出12.9%
-16.1%
两年增速更快
GSAT
近两年复合增速
-8.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $72.0M | $134.3M |
| 净利润 | $-11.6M | $-4.4M |
| 毛利率 | — | 6.8% |
| 营业利润率 | -0.5% | -4.1% |
| 净利率 | -16.1% | -3.2% |
| 营收同比 | 17.6% | 10.7% |
| 净利润同比 | 76.9% | -127.3% |
| 每股收益（稀释后） | $-0.11 | $-0.22 |
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GSATMEC
| Q4 25 | $72.0M | $134.3M | ||
| Q3 25 | $73.8M | $144.3M | ||
| Q2 25 | $67.1M | $132.3M | ||
| Q1 25 | $60.0M | $135.6M | ||
| Q4 24 | $61.2M | $121.3M | ||
| Q3 24 | $72.3M | $135.4M | ||
| Q2 24 | $60.4M | $163.6M | ||
| Q1 24 | $56.5M | $161.3M |
净利润GSATMEC
| Q4 25 | $-11.6M | $-4.4M | ||
| Q3 25 | $1.1M | $-2.7M | ||
| Q2 25 | $19.2M | $-1.1M | ||
| Q1 25 | $-17.3M | $20.0K | ||
| Q4 24 | $-50.2M | $16.0M | ||
| Q3 24 | $9.9M | $3.0M | ||
| Q2 24 | $-9.7M | $3.8M | ||
| Q1 24 | $-13.2M | $3.2M |
毛利率GSATMEC
| Q4 25 | — | 6.8% | ||
| Q3 25 | — | 11.0% | ||
| Q2 25 | — | 10.3% | ||
| Q1 25 | — | 11.3% | ||
| Q4 24 | — | 8.9% | ||
| Q3 24 | — | 12.6% | ||
| Q2 24 | — | 13.6% | ||
| Q1 24 | — | 13.0% |
营业利润率GSATMEC
| Q4 25 | -0.5% | -4.1% | ||
| Q3 25 | 13.8% | 0.0% | ||
| Q2 25 | 9.2% | 0.1% | ||
| Q1 25 | -14.2% | 1.2% | ||
| Q4 24 | -6.9% | 19.0% | ||
| Q3 24 | 13.0% | 4.2% | ||
| Q2 24 | -2.4% | 5.0% | ||
| Q1 24 | -8.3% | 4.7% |
净利率GSATMEC
| Q4 25 | -16.1% | -3.2% | ||
| Q3 25 | 1.5% | -1.9% | ||
| Q2 25 | 28.6% | -0.8% | ||
| Q1 25 | -28.9% | 0.0% | ||
| Q4 24 | -82.1% | 13.2% | ||
| Q3 24 | 13.7% | 2.2% | ||
| Q2 24 | -16.0% | 2.3% | ||
| Q1 24 | -23.4% | 2.0% |
每股收益（稀释后）GSATMEC
| Q4 25 | $-0.11 | $-0.22 | ||
| Q3 25 | $-0.01 | $-0.13 | ||
| Q2 25 | $0.13 | $-0.05 | ||
| Q1 25 | $-0.16 | $0.00 | ||
| Q4 24 | $-0.57 | $0.76 | ||
| Q3 24 | $0.00 | $0.14 | ||
| Q2 24 | $-0.01 | $0.18 | ||
| Q1 24 | $-0.01 | $0.16 |
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 | $447.5M | $1.5M |
| 总债务越低越好 | $483.8M | — |
| 股东权益账面价值 | $355.7M | $240.7M |
| 总资产 | $2.3B | $563.6M |
| 负债/权益比越低杠杆越低 | 1.36× | — |
8季度趋势，按日历期对齐
现金及短期投资GSATMEC
| Q4 25 | $447.5M | $1.5M | ||
| Q3 25 | $346.3M | $1.2M | ||
| Q2 25 | $308.2M | $206.0K | ||
| Q1 25 | $241.4M | $183.0K | ||
| Q4 24 | $391.2M | $206.0K | ||
| Q3 24 | $51.9M | $178.0K | ||
| Q2 24 | $64.3M | $314.0K | ||
| Q1 24 | $59.3M | $314.0K |
总债务GSATMEC
| Q4 25 | $483.8M | — | ||
| Q3 25 | $508.6M | — | ||
| Q2 25 | $491.5M | — | ||
| Q1 25 | $502.7M | — | ||
| Q4 24 | $511.4M | — | ||
| Q3 24 | $394.4M | — | ||
| Q2 24 | $393.1M | — | ||
| Q1 24 | $398.7M | — |
股东权益GSATMEC
| Q4 25 | $355.7M | $240.7M | ||
| Q3 25 | $364.8M | $244.8M | ||
| Q2 25 | $360.9M | $246.8M | ||
| Q1 25 | $344.3M | $250.0M | ||
| Q4 24 | $358.9M | $251.8M | ||
| Q3 24 | $394.1M | $238.4M | ||
| Q2 24 | $383.0M | $238.1M | ||
| Q1 24 | $377.1M | $234.0M |
总资产GSATMEC
| Q4 25 | $2.3B | $563.6M | ||
| Q3 25 | $2.2B | $585.6M | ||
| Q2 25 | $1.9B | $433.7M | ||
| Q1 25 | $1.7B | $447.7M | ||
| Q4 24 | $1.7B | $445.6M | ||
| Q3 24 | $917.6M | $466.0M | ||
| Q2 24 | $926.2M | $488.2M | ||
| Q1 24 | $917.0M | $499.9M |
负债/权益比GSATMEC
| Q4 25 | 1.36× | — | ||
| Q3 25 | 1.39× | — | ||
| Q2 25 | 1.36× | — | ||
| Q1 25 | 1.46× | — | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | 1.00× | — | ||
| Q2 24 | 1.03× | — | ||
| Q1 24 | 1.06× | — |
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 | $175.9M | $13.4M |
| 自由现金流经营现金流 - 资本支出 | — | $10.2M |
| 自由现金流率自由现金流/营收 | — | 7.6% |
| 资本支出强度资本支出/营收 | — | 2.4% |
| 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 | — | $26.9M |
8季度趋势，按日历期对齐
经营现金流GSATMEC
| Q4 25 | $175.9M | $13.4M | ||
| Q3 25 | $236.0M | $1.9M | ||
| Q2 25 | $157.9M | $15.0M | ||
| Q1 25 | $51.9M | $8.3M | ||
| Q4 24 | $340.7M | $38.0M | ||
| Q3 24 | $32.0M | $17.9M | ||
| Q2 24 | $36.7M | $23.3M | ||
| Q1 24 | $29.8M | $10.6M |
自由现金流GSATMEC
| Q4 25 | — | $10.2M | ||
| Q3 25 | — | $-1.1M | ||
| Q2 25 | — | $12.5M | ||
| Q1 25 | — | $5.4M | ||
| Q4 24 | — | $35.6M | ||
| Q3 24 | — | $15.1M | ||
| Q2 24 | — | $19.2M | ||
| Q1 24 | — | $7.8M |
自由现金流率GSATMEC
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | -0.8% | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 29.4% | ||
| Q3 24 | — | 11.1% | ||
| Q2 24 | — | 11.7% | ||
| Q1 24 | — | 4.9% |
资本支出强度GSATMEC
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 2.1% | ||
| Q2 24 | — | 2.5% | ||
| Q1 24 | — | 1.7% |
现金转化率GSATMEC
| Q4 25 | — | — | ||
| Q3 25 | 216.53× | — | ||
| Q2 25 | 8.22× | — | ||
| Q1 25 | — | 416.65× | ||
| Q4 24 | — | 2.38× | ||
| Q3 24 | 3.23× | 6.03× | ||
| Q2 24 | — | 6.15× | ||
| Q1 24 | — | 3.28× |
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
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
MEC
| Fabrication | $72.2M | 54% |
| Construction And Access | $19.2M | 14% |
| Tubes | $16.2M | 12% |
| Other Market | $11.9M | 9% |
| Agriculture | $7.7M | 6% |
| Military | $6.7M | 5% |
| Outdoor Sports | $1.7M | 1% |
