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孩之宝（HAS）与Martin Marietta Materials（MLM）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Martin Marietta Materials的1.3倍（$1.4B vs $1.1B），Martin Marietta Materials净利率更高（24.5% vs 13.9%，领先10.5%），孩之宝同比增速更快（31.3% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $389.5M），过去两年孩之宝的营收复合增速更高（38.2% vs -4.5%）
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。
马丁·玛丽埃塔材料公司是美国大型集料及重型建筑材料供应商，业务覆盖美国26个州、加拿大及加勒比地区，主要为道路、人行道、地基等各类基建项目提供所需原材料。
HAS vs MLM — 直观对比
营收规模更大
HAS
是对方的1.3倍
$1.1B
营收增速更快
HAS
高出61.4%
-30.1%
净利率更高
MLM
高出10.5%
13.9%
自由现金流更多
MLM
多$34.5M
$389.5M
两年增速更快
HAS
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.1B |
| 净利润 | $201.6M | $279.0M |
| 毛利率 | 68.7% | 35.0% |
| 营业利润率 | 20.6% | 24.6% |
| 净利率 | 13.9% | 24.5% |
| 营收同比 | 31.3% | -30.1% |
| 净利润同比 | 687.8% | -4.8% |
| 每股收益（稀释后） | $1.46 | $4.59 |
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HASMLM
| Q4 25 | $1.4B | $1.1B | ||
| Q3 25 | $1.4B | $1.8B | ||
| Q2 25 | $980.8M | $1.8B | ||
| Q1 25 | $887.1M | $1.4B | ||
| Q4 24 | $1.1B | $1.6B | ||
| Q3 24 | $1.3B | $1.9B | ||
| Q2 24 | $995.3M | $1.8B | ||
| Q1 24 | $757.3M | $1.3B |
净利润HASMLM
| Q4 25 | $201.6M | $279.0M | ||
| Q3 25 | $233.2M | $414.0M | ||
| Q2 25 | $-855.8M | $328.0M | ||
| Q1 25 | $98.6M | $116.0M | ||
| Q4 24 | $-34.3M | $293.0M | ||
| Q3 24 | $223.2M | $363.0M | ||
| Q2 24 | $138.5M | $294.0M | ||
| Q1 24 | $58.2M | $1.0B |
毛利率HASMLM
| Q4 25 | 68.7% | 35.0% | ||
| Q3 25 | 70.1% | 33.1% | ||
| Q2 25 | 77.0% | 30.0% | ||
| Q1 25 | 76.9% | 24.8% | ||
| Q4 24 | 67.4% | 30.0% | ||
| Q3 24 | 70.4% | 31.7% | ||
| Q2 24 | 76.1% | 29.3% | ||
| Q1 24 | 73.0% | 21.7% |
营业利润率HASMLM
| Q4 25 | 20.6% | 24.6% | ||
| Q3 25 | 24.6% | 27.4% | ||
| Q2 25 | -81.4% | 25.3% | ||
| Q1 25 | 19.2% | 14.3% | ||
| Q4 24 | 5.4% | 24.4% | ||
| Q3 24 | 23.6% | 25.9% | ||
| Q2 24 | 21.3% | 22.6% | ||
| Q1 24 | 15.3% | — |
净利率HASMLM
| Q4 25 | 13.9% | 24.5% | ||
| Q3 25 | 16.8% | 22.4% | ||
| Q2 25 | -87.3% | 18.1% | ||
| Q1 25 | 11.1% | 8.6% | ||
| Q4 24 | -3.1% | 18.0% | ||
| Q3 24 | 17.4% | 19.2% | ||
| Q2 24 | 13.9% | 16.7% | ||
| Q1 24 | 7.7% | 83.5% |
每股收益（稀释后）HASMLM
| Q4 25 | $1.46 | $4.59 | ||
| Q3 25 | $1.64 | $6.85 | ||
| Q2 25 | $-6.10 | $5.43 | ||
| Q1 25 | $0.70 | $1.90 | ||
| Q4 24 | $-0.25 | $4.87 | ||
| Q3 24 | $1.59 | $5.91 | ||
| Q2 24 | $0.99 | $4.76 | ||
| Q1 24 | $0.42 | $16.87 |
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 | — | $67.0M |
| 总债务越低越好 | — | $5.3B |
| 股东权益账面价值 | $565.5M | $10.0B |
| 总资产 | $5.6B | $18.7B |
| 负债/权益比越低杠杆越低 | — | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资HASMLM
| Q4 25 | — | $67.0M | ||
| Q3 25 | — | $57.0M | ||
| Q2 25 | — | $225.0M | ||
| Q1 25 | — | $101.0M | ||
| Q4 24 | — | $670.0M | ||
| Q3 24 | — | $52.0M | ||
| Q2 24 | — | $109.0M | ||
| Q1 24 | — | $2.6B |
总债务HASMLM
| Q4 25 | — | $5.3B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.4B | ||
| Q4 24 | — | $5.4B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.3B |
股东权益HASMLM
| Q4 25 | $565.5M | $10.0B | ||
| Q3 25 | $433.8M | $9.7B | ||
| Q2 25 | $269.7M | $9.4B | ||
| Q1 25 | $1.2B | $9.1B | ||
| Q4 24 | $1.2B | $9.5B | ||
| Q3 24 | $1.3B | $9.2B | ||
| Q2 24 | $1.2B | $8.8B | ||
| Q1 24 | $1.0B | $8.9B |
总资产HASMLM
| Q4 25 | $5.6B | $18.7B | ||
| Q3 25 | $5.5B | $18.7B | ||
| Q2 25 | $5.2B | $18.1B | ||
| Q1 25 | $6.0B | $17.7B | ||
| Q4 24 | $6.3B | $18.2B | ||
| Q3 24 | $7.2B | $16.5B | ||
| Q2 24 | $6.9B | $16.3B | ||
| Q1 24 | $6.2B | $16.2B |
负债/权益比HASMLM
| Q4 25 | — | 0.53× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | 0.58× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | — | 0.57× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.49× | ||
| Q1 24 | — | 0.49× |
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 | $629.0M |
| 自由现金流经营现金流 - 资本支出 | $389.5M | $424.0M |
| 自由现金流率自由现金流/营收 | 26.9% | 37.2% |
| 资本支出强度资本支出/营收 | 0.9% | 18.0% |
| 现金转化率经营现金流/净利润 | 2.00× | 2.25× |
| 过去12个月自由现金流最近4个季度 | $829.9M | $978.0M |
8季度趋势，按日历期对齐
经营现金流HASMLM
| Q4 25 | $403.2M | $629.0M | ||
| Q3 25 | $280.6M | $551.0M | ||
| Q2 25 | $71.3M | $387.0M | ||
| Q1 25 | $138.1M | $218.0M | ||
| Q4 24 | $259.8M | $686.0M | ||
| Q3 24 | $222.5M | $600.0M | ||
| Q2 24 | $187.3M | $1.0M | ||
| Q1 24 | $177.8M | $172.0M |
自由现金流HASMLM
| Q4 25 | $389.5M | $424.0M | ||
| Q3 25 | $260.9M | $361.0M | ||
| Q2 25 | $55.2M | $208.0M | ||
| Q1 25 | $124.3M | $-15.0M | ||
| Q4 24 | $200.8M | $453.0M | ||
| Q3 24 | $174.0M | $317.0M | ||
| Q2 24 | $135.4M | $-138.0M | ||
| Q1 24 | $132.0M | $-28.0M |
自由现金流率HASMLM
| Q4 25 | 26.9% | 37.2% | ||
| Q3 25 | 18.8% | 19.6% | ||
| Q2 25 | 5.6% | 11.5% | ||
| Q1 25 | 14.0% | -1.1% | ||
| Q4 24 | 18.2% | 27.8% | ||
| Q3 24 | 13.6% | 16.8% | ||
| Q2 24 | 13.6% | -7.8% | ||
| Q1 24 | 17.4% | -2.2% |
资本支出强度HASMLM
| Q4 25 | 0.9% | 18.0% | ||
| Q3 25 | 1.4% | 10.3% | ||
| Q2 25 | 1.6% | 9.9% | ||
| Q1 25 | 1.6% | 17.2% | ||
| Q4 24 | 5.4% | 14.3% | ||
| Q3 24 | 3.8% | 15.0% | ||
| Q2 24 | 5.2% | 7.9% | ||
| Q1 24 | 6.0% | 16.0% |
现金转化率HASMLM
| Q4 25 | 2.00× | 2.25× | ||
| Q3 25 | 1.20× | 1.33× | ||
| Q2 25 | — | 1.18× | ||
| Q1 25 | 1.40× | 1.88× | ||
| Q4 24 | — | 2.34× | ||
| Q3 24 | 1.00× | 1.65× | ||
| Q2 24 | 1.35× | 0.00× | ||
| Q1 24 | 3.05× | 0.16× |
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% |
MLM
| Building Materials Business East Group | $774.0M | 68% |
| Building Materials Business West Group | $233.0M | 20% |
| Services | $88.0M | 8% |
| Other | $45.0M | 4% |
