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高德纳（IT）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
高德纳的季度营收约是美泰的2.0倍（$1.8B vs $862.2M），高德纳净利率更高（13.8% vs 7.1%，领先6.7%），美泰同比增速更快（4.3% vs 2.2%），高德纳自由现金流更多（$270.7M vs $-88.1M），过去两年高德纳的营收复合增速更高（9.1% vs -10.6%）
高德纳是美国专注于商业与科技领域的研究咨询机构，服务客户覆盖大型企业、政府机构、科技公司、投资机构等群体，通过输出研究报告、举办行业峰会、提供定制咨询等形式，为客户决策提供权威专业的洞见支撑。
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
IT vs MAT — 直观对比
营收规模更大
IT
是对方的2.0倍
$862.2M
营收增速更快
MAT
高出2.1%
2.2%
净利率更高
IT
高出6.7%
7.1%
自由现金流更多
IT
多$358.8M
$-88.1M
两年增速更快
IT
近两年复合增速
-10.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $862.2M |
| 净利润 | $242.2M | $61.0M |
| 毛利率 | 67.8% | 44.9% |
| 营业利润率 | 19.1% | — |
| 净利率 | 13.8% | 7.1% |
| 营收同比 | 2.2% | 4.3% |
| 净利润同比 | -39.2% | 251.4% |
| 每股收益（稀释后） | $3.36 | $0.20 |
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ITMAT
| Q1 26 | — | $862.2M | ||
| Q4 25 | $1.8B | $1.8B | ||
| Q3 25 | $1.5B | $1.7B | ||
| Q2 25 | $1.7B | $1.0B | ||
| Q1 25 | $1.5B | $826.6M | ||
| Q4 24 | $1.7B | $1.6B | ||
| Q3 24 | $1.5B | $1.8B | ||
| Q2 24 | $1.6B | $1.1B |
净利润ITMAT
| Q1 26 | — | $61.0M | ||
| Q4 25 | $242.2M | $106.2M | ||
| Q3 25 | $35.4M | $278.4M | ||
| Q2 25 | $240.8M | $53.4M | ||
| Q1 25 | $210.9M | $-40.3M | ||
| Q4 24 | $398.6M | $140.9M | ||
| Q3 24 | $415.0M | $372.4M | ||
| Q2 24 | $229.5M | $56.9M |
毛利率ITMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | 67.8% | 45.9% | ||
| Q3 25 | 69.3% | 50.0% | ||
| Q2 25 | 68.6% | 50.9% | ||
| Q1 25 | 69.4% | 49.4% | ||
| Q4 24 | 66.8% | 50.7% | ||
| Q3 24 | 68.4% | 53.1% | ||
| Q2 24 | 68.6% | 49.2% |
营业利润率ITMAT
| Q1 26 | — | — | ||
| Q4 25 | 19.1% | 8.0% | ||
| Q3 25 | 5.7% | 21.9% | ||
| Q2 25 | 19.4% | 7.7% | ||
| Q1 25 | 18.1% | -6.4% | ||
| Q4 24 | 18.5% | 9.6% | ||
| Q3 24 | 16.6% | 26.5% | ||
| Q2 24 | 20.0% | 7.7% |
净利率ITMAT
| Q1 26 | — | 7.1% | ||
| Q4 25 | 13.8% | 6.0% | ||
| Q3 25 | 2.3% | 16.0% | ||
| Q2 25 | 14.3% | 5.2% | ||
| Q1 25 | 13.7% | -4.9% | ||
| Q4 24 | 23.2% | 8.6% | ||
| Q3 24 | 28.0% | 20.2% | ||
| Q2 24 | 14.4% | 5.3% |
每股收益（稀释后）ITMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | $3.36 | $0.32 | ||
| Q3 25 | $0.47 | $0.88 | ||
| Q2 25 | $3.11 | $0.16 | ||
| Q1 25 | $2.71 | $-0.12 | ||
| Q4 24 | $5.08 | $0.40 | ||
| Q3 24 | $5.32 | $1.09 | ||
| Q2 24 | $2.93 | $0.17 |
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 | $1.7B | $866.0M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $319.9M | $2.1B |
| 总资产 | $8.1B | $6.3B |
| 负债/权益比越低杠杆越低 | — | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资ITMAT
| Q1 26 | — | $866.0M | ||
| Q4 25 | $1.7B | $1.2B | ||
| Q3 25 | $1.4B | $691.9M | ||
| Q2 25 | $2.2B | $870.5M | ||
| Q1 25 | $2.1B | $1.2B | ||
| Q4 24 | $1.9B | $1.4B | ||
| Q3 24 | $1.8B | $723.5M | ||
| Q2 24 | $1.2B | $722.4M |
总债务ITMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B |
股东权益ITMAT
| Q1 26 | — | $2.1B | ||
| Q4 25 | $319.9M | $2.2B | ||
| Q3 25 | $556.6M | $2.3B | ||
| Q2 25 | $1.5B | $2.2B | ||
| Q1 25 | $1.5B | $2.1B | ||
| Q4 24 | $1.4B | $2.3B | ||
| Q3 24 | $1.1B | $2.3B | ||
| Q2 24 | $646.7M | $2.0B |
总资产ITMAT
| Q1 26 | — | $6.3B | ||
| Q4 25 | $8.1B | $6.6B | ||
| Q3 25 | $7.2B | $6.6B | ||
| Q2 25 | $8.3B | $6.2B | ||
| Q1 25 | $8.5B | $6.2B | ||
| Q4 24 | $8.5B | $6.5B | ||
| Q3 24 | $7.8B | $6.5B | ||
| Q2 24 | $7.4B | $5.9B |
负债/权益比ITMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | — | 1.04× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 1.08× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | — | 1.01× | ||
| Q2 24 | — | 1.18× |
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 | $294.5M | — |
| 自由现金流经营现金流 - 资本支出 | $270.7M | $-88.1M |
| 自由现金流率自由现金流/营收 | 15.4% | -10.2% |
| 资本支出强度资本支出/营收 | 1.4% | 7.6% |
| 现金转化率经营现金流/净利润 | 1.22× | — |
| 过去12个月自由现金流最近4个季度 | $1.2B | — |
8季度趋势，按日历期对齐
经营现金流ITMAT
| Q1 26 | — | — | ||
| Q4 25 | $294.5M | $796.6M | ||
| Q3 25 | $298.7M | $72.0M | ||
| Q2 25 | $383.6M | $-300.1M | ||
| Q1 25 | $313.5M | $24.8M | ||
| Q4 24 | $335.4M | $862.1M | ||
| Q3 24 | $590.8M | $155.8M | ||
| Q2 24 | $370.0M | $-252.9M |
自由现金流ITMAT
| Q1 26 | — | $-88.1M | ||
| Q4 25 | $270.7M | — | ||
| Q3 25 | $269.3M | — | ||
| Q2 25 | $347.3M | — | ||
| Q1 25 | $287.9M | — | ||
| Q4 24 | $311.4M | — | ||
| Q3 24 | $565.0M | — | ||
| Q2 24 | $340.6M | — |
自由现金流率ITMAT
| Q1 26 | — | -10.2% | ||
| Q4 25 | 15.4% | — | ||
| Q3 25 | 17.7% | — | ||
| Q2 25 | 20.6% | — | ||
| Q1 25 | 18.8% | — | ||
| Q4 24 | 18.2% | — | ||
| Q3 24 | 38.1% | — | ||
| Q2 24 | 21.4% | — |
资本支出强度ITMAT
| Q1 26 | — | 7.6% | ||
| Q4 25 | 1.4% | — | ||
| Q3 25 | 1.9% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 1.8% | — |
现金转化率ITMAT
| Q1 26 | — | — | ||
| Q4 25 | 1.22× | 7.50× | ||
| Q3 25 | 8.45× | 0.26× | ||
| Q2 25 | 1.59× | -5.62× | ||
| Q1 25 | 1.49× | — | ||
| Q4 24 | 0.84× | 6.12× | ||
| Q3 24 | 1.42× | 0.42× | ||
| Q2 24 | 1.61× | -4.45× |
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
IT
| Transferred Over Time | $1.3B | 73% |
| Conferences | $286.2M | 16% |
| Consulting | $133.6M | 8% |
| Other | $52.3M | 3% |
MAT
暂无分部数据
