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Hut 8 Corp.（HUT）与Metalpha Technology Holding Ltd（MATH）财务数据对比。点击上方公司名可切换其他公司
Hut 8 Corp.的季度营收约是Metalpha Technology Holding Ltd的7.4倍（$88.5M vs $12.0M），Metalpha Technology Holding Ltd净利率更高（-24.0% vs -316.0%，领先292.0%），Hut 8 Corp.同比增速更快（179.2% vs -39.0%）
Tropical Hut是菲律宾水星集团旗下的快餐连锁品牌，是菲律宾历史第七悠久的餐饮连锁品牌，创立时间早于1978年成立的快乐蜂及1981年进入菲律宾市场的麦当劳。
Metalpha Technology Holding Ltd是一家全球性金融科技企业，主营数字资产管理解决方案、机构级加密货币投资服务及Web3生态基础设施支持，服务覆盖亚、欧、北美多地的专业投资者、金融机构及高净值客户。
HUT vs MATH — 直观对比
营收规模更大
HUT
是对方的7.4倍
$12.0M
营收增速更快
HUT
高出218.3%
-39.0%
净利率更高
MATH
高出292.0%
-316.0%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $88.5M | $12.0M |
| 净利润 | $-279.7M | $-2.9M |
| 毛利率 | 60.4% | 28.3% |
| 营业利润率 | -491.4% | -24.2% |
| 净利率 | -316.0% | -24.0% |
| 营收同比 | 179.2% | -39.0% |
| 净利润同比 | -283.7% | -147.7% |
| 每股收益（稀释后） | $-2.45 | $-0.07 |
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HUTMATH
| Q4 25 | $88.5M | — | ||
| Q3 25 | $83.5M | $12.0M | ||
| Q2 25 | $41.3M | — | ||
| Q1 25 | $21.8M | $24.8M | ||
| Q4 24 | $31.7M | — | ||
| Q3 24 | $43.7M | $19.7M | ||
| Q2 24 | $35.2M | — | ||
| Q1 24 | $51.7M | — |
净利润HUTMATH
| Q4 25 | $-279.7M | — | ||
| Q3 25 | $50.1M | $-2.9M | ||
| Q2 25 | $137.3M | — | ||
| Q1 25 | $-133.9M | $9.8M | ||
| Q4 24 | $152.2M | — | ||
| Q3 24 | $647.0K | $6.0M | ||
| Q2 24 | $-71.9M | — | ||
| Q1 24 | $250.9M | — |
毛利率HUTMATH
| Q4 25 | 60.4% | — | ||
| Q3 25 | 61.3% | 28.3% | ||
| Q2 25 | 47.3% | — | ||
| Q1 25 | 14.5% | 85.7% | ||
| Q4 24 | 35.9% | — | ||
| Q3 24 | 59.9% | 49.5% | ||
| Q2 24 | 41.4% | — | ||
| Q1 24 | 45.6% | — |
营业利润率HUTMATH
| Q4 25 | -491.4% | — | ||
| Q3 25 | 87.0% | -24.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | -676.8% | 39.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | -3.6% | 38.9% | ||
| Q2 24 | -246.2% | — | ||
| Q1 24 | — | — |
净利率HUTMATH
| Q4 25 | -316.0% | — | ||
| Q3 25 | 60.0% | -24.0% | ||
| Q2 25 | 332.5% | — | ||
| Q1 25 | -613.7% | 39.6% | ||
| Q4 24 | 480.3% | — | ||
| Q3 24 | 1.5% | 30.7% | ||
| Q2 24 | -204.1% | — | ||
| Q1 24 | 484.9% | — |
每股收益（稀释后）HUTMATH
| Q4 25 | $-2.45 | — | ||
| Q3 25 | $0.43 | $-0.07 | ||
| Q2 25 | $1.18 | — | ||
| Q1 25 | $-1.30 | $0.25 | ||
| Q4 24 | $1.41 | — | ||
| Q3 24 | $0.01 | $0.16 | ||
| Q2 24 | $-0.78 | — | ||
| Q1 24 | $2.76 | — |
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 | $44.9M | $10.1M |
| 总债务越低越好 | — | $101.2K |
| 股东权益账面价值 | $1.4B | $35.1M |
| 总资产 | $2.8B | $413.8M |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资HUTMATH
| Q4 25 | $44.9M | — | ||
| Q3 25 | $33.5M | $10.1M | ||
| Q2 25 | $216.3M | — | ||
| Q1 25 | $108.4M | $6.9M | ||
| Q4 24 | $85.0M | — | ||
| Q3 24 | — | $3.8M | ||
| Q2 24 | — | — | ||
| Q1 24 | $11.5M | — |
总债务HUTMATH
| Q4 25 | — | — | ||
| Q3 25 | — | $101.2K | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $188.0K | ||
| Q4 24 | $300.6M | — | ||
| Q3 24 | $297.3M | $275.1K | ||
| Q2 24 | $328.8M | — | ||
| Q1 24 | $177.6M | — |
股东权益HUTMATH
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $35.1M | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $960.0M | $36.6M | ||
| Q4 24 | $976.7M | — | ||
| Q3 24 | $703.9M | $25.3M | ||
| Q2 24 | $660.1M | — | ||
| Q1 24 | $732.0M | — |
总资产HUTMATH
| Q4 25 | $2.8B | — | ||
| Q3 25 | $2.7B | $413.8M | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $1.6B | $246.8M | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.1B | $237.2M | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $999.0M | — |
负债/权益比HUTMATH
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.01× | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.42× | 0.01× | ||
| Q2 24 | 0.50× | — | ||
| Q1 24 | 0.24× | — |
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 | $-139.2M | $3.3M |
| 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 | — | — |
| 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HUTMATH
| Q4 25 | $-139.2M | — | ||
| Q3 25 | $770.0K | $3.3M | ||
| Q2 25 | $-48.8M | — | ||
| Q1 25 | $-33.8M | $16.2M | ||
| Q4 24 | $-68.5M | — | ||
| Q3 24 | $-4.2M | $-16.1M | ||
| Q2 24 | $-16.4M | — | ||
| Q1 24 | $-26.3M | — |
现金转化率HUTMATH
| Q4 25 | — | — | ||
| Q3 25 | 0.02× | — | ||
| Q2 25 | -0.36× | — | ||
| Q1 25 | — | 1.64× | ||
| Q4 24 | -0.45× | — | ||
| Q3 24 | -6.49× | -2.66× | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.11× | — |
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
HUT
| High Performance Computing Colocation And Cloud | $81.9M | 93% |
| Power | $5.0M | 6% |
| Digital Infrastructure | $1.6M | 2% |
MATH
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