vs
H2O AMERICA（HTO）与MACERICH CO（MAC）财务数据对比。点击上方公司名可切换其他公司
MACERICH CO的季度营收约是H2O AMERICA的1.3倍（$261.7M vs $199.4M），H2O AMERICA净利率更高（8.1% vs -7.2%，领先15.3%），H2O AMERICA同比增速更快（1.5% vs -4.4%），过去两年H2O AMERICA的营收复合增速更高（15.3% vs 12.0%）
H2O Wireless是美国的预付费移动通信服务商，依托AT&T网络运营，隶属于MVNO（移动虚拟网络运营商）Locus通信，自2019年起Locus成为Telrite控股的子公司，此前2010年起曾是KDDI美国旗下资产。该品牌主打无限制套餐服务，支持用户自带或购买无锁智能手机入网，AT&T合约机/锁网机也可兼容使用。
Macerich是一家专注于购物中心投资的房地产投资信托基金，为美国第三大购物中心持有及运营商。截至2024年12月31日，公司共持有43处物业的权益，可租赁总面积达4300万平方英尺，公司名称由创始人Mace Siegel与Richard Cohen的名字组合而来。
HTO vs MAC — 直观对比
营收规模更大
MAC
是对方的1.3倍
$199.4M
营收增速更快
HTO
高出5.8%
-4.4%
净利率更高
HTO
高出15.3%
-7.2%
两年增速更快
HTO
近两年复合增速
12.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $261.7M |
| 净利润 | $16.2M | $-18.8M |
| 毛利率 | — | — |
| 营业利润率 | 16.6% | — |
| 净利率 | 8.1% | -7.2% |
| 营收同比 | 1.5% | -4.4% |
| 净利润同比 | -29.2% | 91.1% |
| 每股收益（稀释后） | $0.45 | $-0.08 |
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HTOMAC
| Q4 25 | $199.4M | $261.7M | ||
| Q3 25 | $243.5M | $253.3M | ||
| Q2 25 | $197.8M | $249.8M | ||
| Q1 25 | $164.9M | $249.2M | ||
| Q4 24 | $196.5M | $273.7M | ||
| Q3 24 | $216.7M | $220.2M | ||
| Q2 24 | $173.1M | $215.5M | ||
| Q1 24 | $150.0M | $208.8M |
净利润HTOMAC
| Q4 25 | $16.2M | $-18.8M | ||
| Q3 25 | $45.1M | $-87.4M | ||
| Q2 25 | $24.7M | $-40.9M | ||
| Q1 25 | $16.6M | $-50.1M | ||
| Q4 24 | $22.9M | $-211.2M | ||
| Q3 24 | $38.7M | $-108.2M | ||
| Q2 24 | $20.7M | $252.0M | ||
| Q1 24 | $11.7M | $-126.7M |
营业利润率HTOMAC
| Q4 25 | 16.6% | — | ||
| Q3 25 | 26.5% | — | ||
| Q2 25 | 22.2% | — | ||
| Q1 25 | 21.8% | — | ||
| Q4 24 | 22.2% | — | ||
| Q3 24 | 26.9% | — | ||
| Q2 24 | 23.4% | — | ||
| Q1 24 | 18.6% | — |
净利率HTOMAC
| Q4 25 | 8.1% | -7.2% | ||
| Q3 25 | 18.5% | -34.5% | ||
| Q2 25 | 12.5% | -16.4% | ||
| Q1 25 | 10.0% | -20.1% | ||
| Q4 24 | 11.7% | -77.2% | ||
| Q3 24 | 17.8% | -49.1% | ||
| Q2 24 | 12.0% | 116.9% | ||
| Q1 24 | 7.8% | -60.7% |
每股收益（稀释后）HTOMAC
| Q4 25 | $0.45 | $-0.08 | ||
| Q3 25 | $1.27 | $-0.34 | ||
| Q2 25 | $0.71 | $-0.16 | ||
| Q1 25 | $0.49 | $-0.20 | ||
| Q4 24 | $0.70 | $-0.95 | ||
| Q3 24 | $1.17 | $-0.50 | ||
| Q2 24 | $0.64 | $1.16 | ||
| Q1 24 | $0.36 | $-0.59 |
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 | $20.7M | $280.2M |
| 总债务越低越好 | $1.9B | $5.1B |
| 股东权益账面价值 | $1.5B | $2.4B |
| 总资产 | $5.1B | $8.4B |
| 负债/权益比越低杠杆越低 | 1.23× | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资HTOMAC
| Q4 25 | $20.7M | $280.2M | ||
| Q3 25 | $11.3M | $290.2M | ||
| Q2 25 | $19.8M | $131.1M | ||
| Q1 25 | $23.7M | $253.2M | ||
| Q4 24 | $11.1M | $89.9M | ||
| Q3 24 | $4.0M | $116.5M | ||
| Q2 24 | $22.8M | $70.7M | ||
| Q1 24 | $4.5M | $120.1M |
总债务HTOMAC
| Q4 25 | $1.9B | $5.1B | ||
| Q3 25 | — | $5.1B | ||
| Q2 25 | — | $5.2B | ||
| Q1 25 | — | $5.2B | ||
| Q4 24 | $1.7B | $4.9B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | — | $4.1B |
股东权益HTOMAC
| Q4 25 | $1.5B | $2.4B | ||
| Q3 25 | $1.5B | $2.5B | ||
| Q2 25 | $1.5B | $2.6B | ||
| Q1 25 | $1.4B | $2.7B | ||
| Q4 24 | $1.4B | $2.8B | ||
| Q3 24 | $1.3B | $2.5B | ||
| Q2 24 | $1.3B | $2.5B | ||
| Q1 24 | $1.2B | $2.3B |
总资产HTOMAC
| Q4 25 | $5.1B | $8.4B | ||
| Q3 25 | $5.0B | $8.4B | ||
| Q2 25 | $4.8B | $8.7B | ||
| Q1 25 | $4.7B | $8.7B | ||
| Q4 24 | $4.7B | $8.6B | ||
| Q3 24 | $4.6B | $7.6B | ||
| Q2 24 | $4.4B | $7.8B | ||
| Q1 24 | $4.4B | $7.4B |
负债/权益比HTOMAC
| Q4 25 | 1.23× | 2.07× | ||
| Q3 25 | — | 2.02× | ||
| Q2 25 | — | 2.02× | ||
| Q1 25 | — | 1.96× | ||
| Q4 24 | 1.26× | 1.78× | ||
| Q3 24 | — | 1.73× | ||
| Q2 24 | — | 1.75× | ||
| Q1 24 | — | 1.79× |
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 | $63.5M | $50.2M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 3.92× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流HTOMAC
| Q4 25 | $63.5M | $50.2M | ||
| Q3 25 | $77.3M | $112.4M | ||
| Q2 25 | $60.8M | $70.5M | ||
| Q1 25 | $43.2M | $88.5M | ||
| Q4 24 | $41.5M | $54.9M | ||
| Q3 24 | $53.5M | $100.0M | ||
| Q2 24 | $49.3M | $67.4M | ||
| Q1 24 | $51.2M | $61.1M |
现金转化率HTOMAC
| Q4 25 | 3.92× | — | ||
| Q3 25 | 1.71× | — | ||
| Q2 25 | 2.47× | — | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 2.38× | 0.27× | ||
| Q1 24 | 4.38× | — |
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
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
MAC
暂无分部数据
