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孩之宝（HAS）与美森（MATX）财务数据对比。点击上方公司名可切换其他公司
孩之宝的季度营收约是美森的1.7倍（$1.4B vs $851.9M），美森净利率更高（16.8% vs 13.9%，领先2.9%），孩之宝同比增速更快（31.3% vs -4.3%），孩之宝自由现金流更多（$389.5M vs $42.2M），过去两年孩之宝的营收复合增速更高（38.2% vs 8.6%）
孩之宝是1923年12月6日成立的美国跨国玩具制造与娱乐控股企业，总部位于罗德岛州波塔基特。旗下拥有Kenner、米尔顿·布拉德利、派克兄弟、威世智等知名品牌，持有大量热门IP商标权，业务覆盖玩具生产、游戏开发、娱乐内容出品等多个领域。
美森公司（Matson, Inc.）是美国知名航运服务企业，总部位于夏威夷州火奴鲁鲁，成立于1882年。旗下子公司美森航运主营跨太平洋海运业务，服务覆盖夏威夷、阿拉斯加、关岛、密克罗尼西亚、太平洋诸岛、中国及日本等地区。
HAS vs MATX — 直观对比
营收规模更大
HAS
是对方的1.7倍
$851.9M
营收增速更快
HAS
高出35.6%
-4.3%
净利率更高
MATX
高出2.9%
13.9%
自由现金流更多
HAS
多$347.3M
$42.2M
两年增速更快
HAS
近两年复合增速
8.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $851.9M |
| 净利润 | $201.6M | $143.1M |
| 毛利率 | 68.7% | — |
| 营业利润率 | 20.6% | 16.9% |
| 净利率 | 13.9% | 16.8% |
| 营收同比 | 31.3% | -4.3% |
| 净利润同比 | 687.8% | 11.8% |
| 每股收益（稀释后） | $1.46 | $4.47 |
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HASMATX
| Q4 25 | $1.4B | $851.9M | ||
| Q3 25 | $1.4B | $880.1M | ||
| Q2 25 | $980.8M | $830.5M | ||
| Q1 25 | $887.1M | $782.0M | ||
| Q4 24 | $1.1B | $890.3M | ||
| Q3 24 | $1.3B | $962.0M | ||
| Q2 24 | $995.3M | $847.4M | ||
| Q1 24 | $757.3M | $722.1M |
净利润HASMATX
| Q4 25 | $201.6M | $143.1M | ||
| Q3 25 | $233.2M | $134.7M | ||
| Q2 25 | $-855.8M | $94.7M | ||
| Q1 25 | $98.6M | $72.3M | ||
| Q4 24 | $-34.3M | $128.0M | ||
| Q3 24 | $223.2M | $199.1M | ||
| Q2 24 | $138.5M | $113.2M | ||
| Q1 24 | $58.2M | $36.1M |
毛利率HASMATX
| Q4 25 | 68.7% | — | ||
| Q3 25 | 70.1% | — | ||
| Q2 25 | 77.0% | — | ||
| Q1 25 | 76.9% | — | ||
| Q4 24 | 67.4% | — | ||
| Q3 24 | 70.4% | — | ||
| Q2 24 | 76.1% | — | ||
| Q1 24 | 73.0% | — |
营业利润率HASMATX
| Q4 25 | 20.6% | 16.9% | ||
| Q3 25 | 24.6% | 18.3% | ||
| Q2 25 | -81.4% | 13.6% | ||
| Q1 25 | 19.2% | 10.5% | ||
| Q4 24 | 5.4% | 16.6% | ||
| Q3 24 | 23.6% | 25.2% | ||
| Q2 24 | 21.3% | 14.7% | ||
| Q1 24 | 15.3% | 5.1% |
净利率HASMATX
| Q4 25 | 13.9% | 16.8% | ||
| Q3 25 | 16.8% | 15.3% | ||
| Q2 25 | -87.3% | 11.4% | ||
| Q1 25 | 11.1% | 9.2% | ||
| Q4 24 | -3.1% | 14.4% | ||
| Q3 24 | 17.4% | 20.7% | ||
| Q2 24 | 13.9% | 13.4% | ||
| Q1 24 | 7.7% | 5.0% |
每股收益（稀释后）HASMATX
| Q4 25 | $1.46 | $4.47 | ||
| Q3 25 | $1.64 | $4.24 | ||
| Q2 25 | $-6.10 | $2.92 | ||
| Q1 25 | $0.70 | $2.18 | ||
| Q4 24 | $-0.25 | $3.69 | ||
| Q3 24 | $1.59 | $5.89 | ||
| Q2 24 | $0.99 | $3.31 | ||
| Q1 24 | $0.42 | $1.04 |
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 | — | $141.9M |
| 总债务越低越好 | — | $361.2M |
| 股东权益账面价值 | $565.5M | $2.8B |
| 总资产 | $5.6B | $4.6B |
| 负债/权益比越低杠杆越低 | — | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资HASMATX
| Q4 25 | — | $141.9M | ||
| Q3 25 | — | $92.7M | ||
| Q2 25 | — | $59.1M | ||
| Q1 25 | — | $122.0M | ||
| Q4 24 | — | $266.8M | ||
| Q3 24 | — | $270.3M | ||
| Q2 24 | — | $168.2M | ||
| Q1 24 | — | $25.9M |
总债务HASMATX
| Q4 25 | — | $361.2M | ||
| Q3 25 | — | $370.9M | ||
| Q2 25 | — | $341.3M | ||
| Q1 25 | — | $351.1M | ||
| Q4 24 | — | $361.2M | ||
| Q3 24 | — | $370.9M | ||
| Q2 24 | — | $381.0M | ||
| Q1 24 | — | $390.8M |
股东权益HASMATX
| Q4 25 | $565.5M | $2.8B | ||
| Q3 25 | $433.8M | $2.7B | ||
| Q2 25 | $269.7M | $2.6B | ||
| Q1 25 | $1.2B | $2.6B | ||
| Q4 24 | $1.2B | $2.7B | ||
| Q3 24 | $1.3B | $2.6B | ||
| Q2 24 | $1.2B | $2.4B | ||
| Q1 24 | $1.0B | $2.4B |
总资产HASMATX
| Q4 25 | $5.6B | $4.6B | ||
| Q3 25 | $5.5B | $4.6B | ||
| Q2 25 | $5.2B | $4.5B | ||
| Q1 25 | $6.0B | $4.5B | ||
| Q4 24 | $6.3B | $4.6B | ||
| Q3 24 | $7.2B | $4.4B | ||
| Q2 24 | $6.9B | $4.3B | ||
| Q1 24 | $6.2B | $4.2B |
负债/权益比HASMATX
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | 0.14× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.16× | ||
| Q1 24 | — | 0.16× |
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 | $403.2M | $176.9M |
| 自由现金流经营现金流 - 资本支出 | $389.5M | $42.2M |
| 自由现金流率自由现金流/营收 | 26.9% | 5.0% |
| 资本支出强度资本支出/营收 | 0.9% | 15.8% |
| 现金转化率经营现金流/净利润 | 2.00× | 1.24× |
| 过去12个月自由现金流最近4个季度 | $829.9M | $153.7M |
8季度趋势，按日历期对齐
经营现金流HASMATX
| Q4 25 | $403.2M | $176.9M | ||
| Q3 25 | $280.6M | $175.6M | ||
| Q2 25 | $71.3M | $105.6M | ||
| Q1 25 | $138.1M | $89.0M | ||
| Q4 24 | $259.8M | $174.7M | ||
| Q3 24 | $222.5M | $248.6M | ||
| Q2 24 | $187.3M | $307.9M | ||
| Q1 24 | $177.8M | $36.6M |
自由现金流HASMATX
| Q4 25 | $389.5M | $42.2M | ||
| Q3 25 | $260.9M | $92.4M | ||
| Q2 25 | $55.2M | $19.3M | ||
| Q1 25 | $124.3M | $-200.0K | ||
| Q4 24 | $200.8M | $49.3M | ||
| Q3 24 | $174.0M | $189.0M | ||
| Q2 24 | $135.4M | $238.1M | ||
| Q1 24 | $132.0M | $-18.7M |
自由现金流率HASMATX
| Q4 25 | 26.9% | 5.0% | ||
| Q3 25 | 18.8% | 10.5% | ||
| Q2 25 | 5.6% | 2.3% | ||
| Q1 25 | 14.0% | -0.0% | ||
| Q4 24 | 18.2% | 5.5% | ||
| Q3 24 | 13.6% | 19.6% | ||
| Q2 24 | 13.6% | 28.1% | ||
| Q1 24 | 17.4% | -2.6% |
资本支出强度HASMATX
| Q4 25 | 0.9% | 15.8% | ||
| Q3 25 | 1.4% | 9.5% | ||
| Q2 25 | 1.6% | 10.4% | ||
| Q1 25 | 1.6% | 11.4% | ||
| Q4 24 | 5.4% | 14.1% | ||
| Q3 24 | 3.8% | 6.2% | ||
| Q2 24 | 5.2% | 8.2% | ||
| Q1 24 | 6.0% | 7.7% |
现金转化率HASMATX
| Q4 25 | 2.00× | 1.24× | ||
| Q3 25 | 1.20× | 1.30× | ||
| Q2 25 | — | 1.12× | ||
| Q1 25 | 1.40× | 1.23× | ||
| Q4 24 | — | 1.36× | ||
| Q3 24 | 1.00× | 1.25× | ||
| Q2 24 | 1.35× | 2.72× | ||
| Q1 24 | 3.05× | 1.01× |
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
HAS
| Grow Brands | $1.1B | 75% |
| Optimize Brands | $188.7M | 13% |
| Digital And Licensing Gaming | $135.7M | 9% |
| Class Of Principal Product Family Brands | $13.1M | 1% |
| Filmand TV | $2.4M | 0% |
MATX
| Ocean Transportation Segment | $704.2M | 83% |
| Logistics Services Segment | $147.7M | 17% |
