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KAISER ALUMINUM CORP（KALU）与M/I HOMES, INC.（MHO）财务数据对比。点击上方公司名可切换其他公司
M/I HOMES, INC.的季度营收约是KAISER ALUMINUM CORP的1.2倍（$1.1B vs $929.0M），M/I HOMES, INC.净利率更高（5.6% vs 3.0%，领先2.5%），KAISER ALUMINUM CORP同比增速更快（21.4% vs -4.8%），M/I HOMES, INC.自由现金流更多（$-13.0M vs $-51.1M），过去两年KAISER ALUMINUM CORP的营收复合增速更高（12.2% vs 4.7%）
凯撒铝业是美国知名铝产品生产商，前身为凯撒铝业化工公司。其历史可追溯至Permanente Metals公司，该公司公开发行普通股后更名为凯撒铝业化工公司，后续拆分出现在的凯撒铝业，深耕铝材料生产领域，为下游多行业提供铝制品解决方案。
M/I Homes是美国领先的住宅建筑企业，主要设计、建造及销售独栋住宅、联排住宅与复式公寓，业务覆盖美国多州，面向首次置业、改善型及高端置业群体，提供节能住宅产品与个性化定制服务。
KALU vs MHO — 直观对比
营收规模更大
MHO
是对方的1.2倍
$929.0M
营收增速更快
KALU
高出26.2%
-4.8%
净利率更高
MHO
高出2.5%
3.0%
自由现金流更多
MHO
多$38.1M
$-51.1M
两年增速更快
KALU
近两年复合增速
4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $929.0M | $1.1B |
| 净利润 | $28.2M | $64.0M |
| 毛利率 | 13.3% | 17.4% |
| 营业利润率 | 6.5% | 6.5% |
| 净利率 | 3.0% | 5.6% |
| 营收同比 | 21.4% | -4.8% |
| 净利润同比 | 42.4% | -52.1% |
| 每股收益（稀释后） | $1.67 | $2.42 |
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KALUMHO
| Q4 25 | $929.0M | $1.1B | ||
| Q3 25 | $843.5M | $1.1B | ||
| Q2 25 | $823.1M | $1.2B | ||
| Q1 25 | $777.4M | $976.1M | ||
| Q4 24 | $765.4M | $1.2B | ||
| Q3 24 | $747.7M | $1.1B | ||
| Q2 24 | $773.4M | $1.1B | ||
| Q1 24 | $737.5M | $1.0B |
净利润KALUMHO
| Q4 25 | $28.2M | $64.0M | ||
| Q3 25 | $39.5M | $106.5M | ||
| Q2 25 | $23.2M | $121.2M | ||
| Q1 25 | $21.6M | $111.2M | ||
| Q4 24 | $19.8M | $133.5M | ||
| Q3 24 | $8.8M | $145.4M | ||
| Q2 24 | $18.9M | $146.7M | ||
| Q1 24 | $18.2M | $138.1M |
毛利率KALUMHO
| Q4 25 | 13.3% | 17.4% | ||
| Q3 25 | 13.6% | 24.5% | ||
| Q2 25 | 12.2% | 24.7% | ||
| Q1 25 | 13.4% | 25.9% | ||
| Q4 24 | 12.5% | 24.6% | ||
| Q3 24 | 9.6% | 27.1% | ||
| Q2 24 | 13.4% | 27.9% | ||
| Q1 24 | 11.7% | 27.1% |
营业利润率KALUMHO
| Q4 25 | 6.5% | 6.5% | ||
| Q3 25 | 5.8% | 12.0% | ||
| Q2 25 | 4.6% | 13.4% | ||
| Q1 25 | 5.3% | 14.4% | ||
| Q4 24 | 5.0% | 13.6% | ||
| Q3 24 | 1.8% | 15.9% | ||
| Q2 24 | 4.7% | 16.8% | ||
| Q1 24 | 3.3% | 16.6% |
净利率KALUMHO
| Q4 25 | 3.0% | 5.6% | ||
| Q3 25 | 4.7% | 9.4% | ||
| Q2 25 | 2.8% | 10.4% | ||
| Q1 25 | 2.8% | 11.4% | ||
| Q4 24 | 2.6% | 11.1% | ||
| Q3 24 | 1.2% | 12.7% | ||
| Q2 24 | 2.4% | 13.2% | ||
| Q1 24 | 2.5% | 13.2% |
每股收益（稀释后）KALUMHO
| Q4 25 | $1.67 | $2.42 | ||
| Q3 25 | $2.38 | $3.92 | ||
| Q2 25 | $1.41 | $4.42 | ||
| Q1 25 | $1.31 | $3.98 | ||
| Q4 24 | $1.21 | $4.71 | ||
| Q3 24 | $0.54 | $5.10 | ||
| Q2 24 | $1.15 | $5.12 | ||
| Q1 24 | $1.12 | $4.78 |
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 | $7.0M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $826.1M | $3.2B |
| 总资产 | $2.6B | $4.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资KALUMHO
| Q4 25 | $7.0M | — | ||
| Q3 25 | $17.2M | — | ||
| Q2 25 | $13.1M | — | ||
| Q1 25 | $21.3M | — | ||
| Q4 24 | $18.4M | — | ||
| Q3 24 | $45.7M | — | ||
| Q2 24 | $70.4M | — | ||
| Q1 24 | $101.6M | — |
股东权益KALUMHO
| Q4 25 | $826.1M | $3.2B | ||
| Q3 25 | $806.1M | $3.1B | ||
| Q2 25 | $776.0M | $3.1B | ||
| Q1 25 | $756.8M | $3.0B | ||
| Q4 24 | $743.1M | $2.9B | ||
| Q3 24 | $729.4M | $2.8B | ||
| Q2 24 | $727.6M | $2.7B | ||
| Q1 24 | $714.7M | $2.6B |
总资产KALUMHO
| Q4 25 | $2.6B | $4.8B | ||
| Q3 25 | $2.6B | $4.8B | ||
| Q2 25 | $2.5B | $4.7B | ||
| Q1 25 | $2.4B | $4.6B | ||
| Q4 24 | $2.4B | $4.5B | ||
| Q3 24 | $2.3B | $4.5B | ||
| Q2 24 | $2.3B | $4.3B | ||
| Q1 24 | $2.3B | $4.2B |
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 | $-20.6M | $-8.7M |
| 自由现金流经营现金流 - 资本支出 | $-51.1M | $-13.0M |
| 自由现金流率自由现金流/营收 | -5.5% | -1.1% |
| 资本支出强度资本支出/营收 | 3.3% | 0.4% |
| 现金转化率经营现金流/净利润 | -0.73× | -0.14× |
| 过去12个月自由现金流最近4个季度 | $-25.5M | $127.7M |
8季度趋势，按日历期对齐
经营现金流KALUMHO
| Q4 25 | $-20.6M | $-8.7M | ||
| Q3 25 | $59.1M | $43.4M | ||
| Q2 25 | $15.9M | $37.8M | ||
| Q1 25 | $57.0M | $64.9M | ||
| Q4 24 | $43.4M | $104.4M | ||
| Q3 24 | $34.1M | $-67.9M | ||
| Q2 24 | $26.3M | $27.5M | ||
| Q1 24 | $63.3M | $115.8M |
自由现金流KALUMHO
| Q4 25 | $-51.1M | $-13.0M | ||
| Q3 25 | $34.5M | $42.0M | ||
| Q2 25 | $-27.7M | $35.1M | ||
| Q1 25 | $18.8M | $63.5M | ||
| Q4 24 | $-12.6M | $102.3M | ||
| Q3 24 | $-17.0M | $-68.5M | ||
| Q2 24 | $-17.4M | $22.0M | ||
| Q1 24 | $33.3M | $115.5M |
自由现金流率KALUMHO
| Q4 25 | -5.5% | -1.1% | ||
| Q3 25 | 4.1% | 3.7% | ||
| Q2 25 | -3.4% | 3.0% | ||
| Q1 25 | 2.4% | 6.5% | ||
| Q4 24 | -1.6% | 8.5% | ||
| Q3 24 | -2.3% | -6.0% | ||
| Q2 24 | -2.2% | 2.0% | ||
| Q1 24 | 4.5% | 11.0% |
资本支出强度KALUMHO
| Q4 25 | 3.3% | 0.4% | ||
| Q3 25 | 2.9% | 0.1% | ||
| Q2 25 | 5.3% | 0.2% | ||
| Q1 25 | 4.9% | 0.1% | ||
| Q4 24 | 7.3% | 0.2% | ||
| Q3 24 | 6.8% | 0.1% | ||
| Q2 24 | 5.7% | 0.5% | ||
| Q1 24 | 4.1% | 0.0% |
现金转化率KALUMHO
| Q4 25 | -0.73× | -0.14× | ||
| Q3 25 | 1.50× | 0.41× | ||
| Q2 25 | 0.69× | 0.31× | ||
| Q1 25 | 2.64× | 0.58× | ||
| Q4 24 | 2.19× | 0.78× | ||
| Q3 24 | 3.88× | -0.47× | ||
| Q2 24 | 1.39× | 0.19× | ||
| Q1 24 | 3.48× | 0.84× |
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
KALU
| Packaging | $440.6M | 47% |
| Aero Hs Products | $213.0M | 23% |
| Transferred Over Time | $200.2M | 22% |
| Automotive Extrusions | $75.4M | 8% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
