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和黄医药（HCM）与Mativ Holdings, Inc.（MATV）财务数据对比。点击上方公司名可切换其他公司
Mativ Holdings, Inc.的季度营收约是和黄医药的1.7倍（$463.1M vs $270.8M），Mativ Holdings, Inc.净利率更高（21.8% vs 0.7%，领先21.0%），Mativ Holdings, Inc.同比增速更快（1.0% vs -16.5%），Mativ Holdings, Inc.自由现金流更多（$8.0M vs $3.4M）
和黄医药是一家国际化生物制药企业，专注于肿瘤、免疫类疾病的靶向疗法与免疫疗法的研发、生产及商业化，核心市场覆盖中国及全球多个国家地区，已有多款肿瘤治疗药物上市，后期临床管线储备丰富。
Mativ Holdings是一家全球特种材料制造商，主要生产高性能先进聚合物、无纺布、过滤解决方案及功能性涂层材料，服务医疗、工业、消费品、航空航天、能源等领域，业务遍及北美、欧洲及亚太地区。
HCM vs MATV — 直观对比
营收规模更大
MATV
是对方的1.7倍
$270.8M
营收增速更快
MATV
高出17.5%
-16.5%
净利率更高
MATV
高出21.0%
0.7%
自由现金流更多
MATV
多$4.6M
$3.4M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $270.8M | $463.1M |
| 净利润 | $2.0M | $100.8M |
| 毛利率 | 37.7% | 18.8% |
| 营业利润率 | -13.2% | 2.2% |
| 净利率 | 0.7% | 21.8% |
| 营收同比 | -16.5% | 1.0% |
| 净利润同比 | -83.6% | 6620.0% |
| 每股收益（稀释后） | $0.00 | $1.87 |
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HCMMATV
| Q4 25 | $270.8M | $463.1M | ||
| Q3 25 | — | $513.7M | ||
| Q2 25 | $277.7M | $525.4M | ||
| Q1 25 | $324.5M | $484.8M | ||
| Q4 24 | — | $458.6M | ||
| Q3 24 | — | $498.5M | ||
| Q2 24 | $305.7M | $523.8M | ||
| Q1 24 | — | $500.2M |
净利润HCMMATV
| Q4 25 | $2.0M | $100.8M | ||
| Q3 25 | — | $-3.2M | ||
| Q2 25 | $455.0M | $-9.5M | ||
| Q1 25 | $11.9M | $-425.5M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $-20.8M | ||
| Q2 24 | $25.8M | $-1.4M | ||
| Q1 24 | — | $-28.0M |
毛利率HCMMATV
| Q4 25 | 37.7% | 18.8% | ||
| Q3 25 | — | 19.3% | ||
| Q2 25 | 0.1% | 19.7% | ||
| Q1 25 | 48.0% | 15.0% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | — | 18.8% | ||
| Q2 24 | 41.1% | 20.8% | ||
| Q1 24 | — | 16.8% |
营业利润率HCMMATV
| Q4 25 | -13.2% | 2.2% | ||
| Q3 25 | — | 3.1% | ||
| Q2 25 | -1.3% | 3.8% | ||
| Q1 25 | -5.0% | -88.8% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | -9.0% | 2.0% | ||
| Q1 24 | — | -2.8% |
净利率HCMMATV
| Q4 25 | 0.7% | 21.8% | ||
| Q3 25 | — | -0.6% | ||
| Q2 25 | 163.8% | -1.8% | ||
| Q1 25 | 3.7% | -87.8% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | -4.2% | ||
| Q2 24 | 8.4% | -0.3% | ||
| Q1 24 | — | -5.6% |
每股收益（稀释后）HCMMATV
| Q4 25 | $0.00 | $1.87 | ||
| Q3 25 | — | $-0.06 | ||
| Q2 25 | $0.52 | $-0.18 | ||
| Q1 25 | $0.01 | $-7.82 | ||
| Q4 24 | — | $0.03 | ||
| Q3 24 | — | $-0.38 | ||
| Q2 24 | $0.03 | $-0.03 | ||
| Q1 24 | — | $-0.52 |
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 | $1.4B | $84.2M |
| 总债务越低越好 | $93.2M | $1.0B |
| 股东权益账面价值 | $1.2B | $498.7M |
| 总资产 | $1.8B | $2.1B |
| 负债/权益比越低杠杆越低 | 0.08× | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资HCMMATV
| Q4 25 | $1.4B | $84.2M | ||
| Q3 25 | — | $97.1M | ||
| Q2 25 | $1.4B | $95.6M | ||
| Q1 25 | $836.1M | $84.0M | ||
| Q4 24 | — | $94.3M | ||
| Q3 24 | — | $162.2M | ||
| Q2 24 | $802.5M | $133.4M | ||
| Q1 24 | — | $128.9M |
总债务HCMMATV
| Q4 25 | $93.2M | $1.0B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | $93.4M | $1.1B | ||
| Q1 25 | $82.8M | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | $82.1M | $1.2B | ||
| Q1 24 | — | $1.2B |
股东权益HCMMATV
| Q4 25 | $1.2B | $498.7M | ||
| Q3 25 | — | $397.4M | ||
| Q2 25 | $1.2B | $416.6M | ||
| Q1 25 | $759.9M | $428.2M | ||
| Q4 24 | — | $858.5M | ||
| Q3 24 | — | $882.3M | ||
| Q2 24 | $740.1M | $898.0M | ||
| Q1 24 | — | $906.9M |
总资产HCMMATV
| Q4 25 | $1.8B | $2.1B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | $1.8B | $2.1B | ||
| Q1 25 | $1.3B | $2.1B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | $1.3B | $2.6B | ||
| Q1 24 | — | $2.7B |
负债/权益比HCMMATV
| Q4 25 | 0.08× | 2.07× | ||
| Q3 25 | — | 2.63× | ||
| Q2 25 | 0.08× | 2.66× | ||
| Q1 25 | 0.11× | 2.67× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | — | 1.32× | ||
| Q2 24 | 0.11× | 1.29× | ||
| Q1 24 | — | 1.30× |
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 | $8.2M | $19.3M |
| 自由现金流经营现金流 - 资本支出 | $3.4M | $8.0M |
| 自由现金流率自由现金流/营收 | 1.2% | 1.7% |
| 资本支出强度资本支出/营收 | 1.8% | 2.4% |
| 现金转化率经营现金流/净利润 | 4.21× | 0.19× |
| 过去12个月自由现金流最近4个季度 | $-96.2M | $93.8M |
8季度趋势，按日历期对齐
经营现金流HCMMATV
| Q4 25 | $8.2M | $19.3M | ||
| Q3 25 | — | $72.8M | ||
| Q2 25 | $-72.9M | $57.6M | ||
| Q1 25 | $40.3M | $-15.9M | ||
| Q4 24 | — | $24.1M | ||
| Q3 24 | — | $37.6M | ||
| Q2 24 | $-39.8M | $46.1M | ||
| Q1 24 | — | $-13.0M |
自由现金流HCMMATV
| Q4 25 | $3.4M | $8.0M | ||
| Q3 25 | — | $66.7M | ||
| Q2 25 | $-82.2M | $48.9M | ||
| Q1 25 | $32.5M | $-29.8M | ||
| Q4 24 | — | $2.0M | ||
| Q3 24 | — | $25.5M | ||
| Q2 24 | $-49.9M | $37.4M | ||
| Q1 24 | — | $-25.1M |
自由现金流率HCMMATV
| Q4 25 | 1.2% | 1.7% | ||
| Q3 25 | — | 13.0% | ||
| Q2 25 | -29.6% | 9.3% | ||
| Q1 25 | 10.0% | -6.1% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 5.1% | ||
| Q2 24 | -16.3% | 7.1% | ||
| Q1 24 | — | -5.0% |
资本支出强度HCMMATV
| Q4 25 | 1.8% | 2.4% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | 3.3% | 1.7% | ||
| Q1 25 | 2.4% | 2.9% | ||
| Q4 24 | — | 4.8% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | 3.3% | 1.7% | ||
| Q1 24 | — | 2.4% |
现金转化率HCMMATV
| Q4 25 | 4.21× | 0.19× | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.16× | — | ||
| Q1 25 | 3.38× | — | ||
| Q4 24 | — | 16.07× | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.54× | — | ||
| Q1 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
HCM
暂无分部数据
MATV
| Other | $208.7M | 45% |
| SAS Segment | $157.4M | 34% |
| FAM Segment | $97.0M | 21% |
