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诺唯真游轮控股（LINE）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
美泰的季度营收约是诺唯真游轮控股的1.3倍（$1.8B vs $1.4B），美泰净利率更高（6.0% vs -7.3%，领先13.3%），美泰同比增速更快（7.3% vs 3.1%）
诺唯真游轮控股是一家总部位于美国、注册地为百慕大的企业，旗下全资运营诺唯真游轮、大洋游轮、丽晶七海游轮三大品牌，合并业务规模位列全球游轮运营商第三位，目前在纽约证券交易所挂牌上市。
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。
LINE vs MAT — 直观对比
营收规模更大
MAT
是对方的1.3倍
$1.4B
营收增速更快
MAT
高出4.1%
3.1%
净利率更高
MAT
高出13.3%
-7.3%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.8B |
| 净利润 | $-100.0M | $106.2M |
| 毛利率 | 32.3% | 45.9% |
| 营业利润率 | 2.5% | 8.0% |
| 净利率 | -7.3% | 6.0% |
| 营收同比 | 3.1% | 7.3% |
| 净利润同比 | 79.4% | -24.6% |
| 每股收益（稀释后） | $-0.44 | $0.32 |
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LINEMAT
| Q4 25 | — | $1.8B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $1.4B | $1.0B | ||
| Q1 25 | $1.3B | $826.6M | ||
| Q4 24 | $1.3B | $1.6B | ||
| Q3 24 | $1.3B | $1.8B | ||
| Q2 24 | $1.3B | $1.1B | ||
| Q1 24 | $1.3B | $809.5M |
净利润LINEMAT
| Q4 25 | — | $106.2M | ||
| Q3 25 | $-100.0M | $278.4M | ||
| Q2 25 | $-6.0M | $53.4M | ||
| Q1 25 | $0 | $-40.3M | ||
| Q4 24 | $-71.0M | $140.9M | ||
| Q3 24 | $-485.0M | $372.4M | ||
| Q2 24 | $-68.0M | $56.9M | ||
| Q1 24 | $-40.0M | $-28.3M |
毛利率LINEMAT
| Q4 25 | — | 45.9% | ||
| Q3 25 | 32.3% | 50.0% | ||
| Q2 25 | 31.9% | 50.9% | ||
| Q1 25 | 32.2% | 49.4% | ||
| Q4 24 | 32.3% | 50.7% | ||
| Q3 24 | 32.8% | 53.1% | ||
| Q2 24 | 33.4% | 49.2% | ||
| Q1 24 | 33.4% | 48.0% |
营业利润率LINEMAT
| Q4 25 | — | 8.0% | ||
| Q3 25 | 2.5% | 21.9% | ||
| Q2 25 | 1.7% | 7.7% | ||
| Q1 25 | 4.3% | -6.4% | ||
| Q4 24 | -1.6% | 9.6% | ||
| Q3 24 | -38.6% | 26.5% | ||
| Q2 24 | 5.5% | 7.7% | ||
| Q1 24 | 7.6% | -4.4% |
净利率LINEMAT
| Q4 25 | — | 6.0% | ||
| Q3 25 | -7.3% | 16.0% | ||
| Q2 25 | -0.4% | 5.2% | ||
| Q1 25 | — | -4.9% | ||
| Q4 24 | -5.3% | 8.6% | ||
| Q3 24 | -36.3% | 20.2% | ||
| Q2 24 | -5.1% | 5.3% | ||
| Q1 24 | -3.0% | -3.5% |
每股收益（稀释后）LINEMAT
| Q4 25 | — | $0.32 | ||
| Q3 25 | $-0.44 | $0.88 | ||
| Q2 25 | $-0.03 | $0.16 | ||
| Q1 25 | $0.01 | $-0.12 | ||
| Q4 24 | $-0.52 | $0.40 | ||
| Q3 24 | $-2.44 | $1.09 | ||
| Q2 24 | $-0.46 | $0.17 | ||
| Q1 24 | $-0.28 | $-0.08 |
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 | — | $1.2B |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $8.4B | $2.2B |
| 总资产 | $19.2B | $6.6B |
| 负债/权益比越低杠杆越低 | — | 1.04× |
8季度趋势，按日历期对齐
现金及短期投资LINEMAT
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $691.9M | ||
| Q2 25 | — | $870.5M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $173.0M | $1.4B | ||
| Q3 24 | $409.0M | $723.5M | ||
| Q2 24 | $73.0M | $722.4M | ||
| Q1 24 | — | $1.1B |
总债务LINEMAT
| 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 | ||
| Q1 24 | — | $2.3B |
股东权益LINEMAT
| Q4 25 | — | $2.2B | ||
| Q3 25 | $8.4B | $2.3B | ||
| Q2 25 | $8.6B | $2.2B | ||
| Q1 25 | $8.6B | $2.1B | ||
| Q4 24 | $8.6B | $2.3B | ||
| Q3 24 | $9.0B | $2.3B | ||
| Q2 24 | $4.9B | $2.0B | ||
| Q1 24 | $5.6B | $2.0B |
总资产LINEMAT
| Q4 25 | — | $6.6B | ||
| Q3 25 | $19.2B | $6.6B | ||
| Q2 25 | $19.4B | $6.2B | ||
| Q1 25 | $18.8B | $6.2B | ||
| Q4 24 | $18.7B | $6.5B | ||
| Q3 24 | $19.3B | $6.5B | ||
| Q2 24 | $18.8B | $5.9B | ||
| Q1 24 | — | $6.1B |
负债/权益比LINEMAT
| 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× | ||
| Q1 24 | — | 1.15× |
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 | $230.0M | $796.6M |
| 自由现金流经营现金流 - 资本支出 | $35.0M | — |
| 自由现金流率自由现金流/营收 | 2.5% | — |
| 资本支出强度资本支出/营收 | 14.2% | — |
| 现金转化率经营现金流/净利润 | — | 7.50× |
| 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LINEMAT
| Q4 25 | — | $796.6M | ||
| Q3 25 | $230.0M | $72.0M | ||
| Q2 25 | $258.0M | $-300.1M | ||
| Q1 25 | $139.0M | $24.8M | ||
| Q4 24 | — | $862.1M | ||
| Q3 24 | $186.0M | $155.8M | ||
| Q2 24 | $155.0M | $-252.9M | ||
| Q1 24 | $105.0M | $35.5M |
自由现金流LINEMAT
| Q4 25 | — | — | ||
| Q3 25 | $35.0M | — | ||
| Q2 25 | $95.0M | — | ||
| Q1 25 | $-12.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $33.0M | — | ||
| Q2 24 | $-31.0M | — | ||
| Q1 24 | $-42.0M | — |
自由现金流率LINEMAT
| Q4 25 | — | — | ||
| Q3 25 | 2.5% | — | ||
| Q2 25 | 7.0% | — | ||
| Q1 25 | -0.9% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.5% | — | ||
| Q2 24 | -2.3% | — | ||
| Q1 24 | -3.2% | — |
资本支出强度LINEMAT
| Q4 25 | — | — | ||
| Q3 25 | 14.2% | — | ||
| Q2 25 | 12.1% | — | ||
| Q1 25 | 11.7% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 11.5% | — | ||
| Q2 24 | 13.9% | — | ||
| Q1 24 | 11.1% | — |
现金转化率LINEMAT
| Q4 25 | — | 7.50× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | -5.62× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.12× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | — | -4.45× | ||
| 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
LINE
| Warehousing Operations | $883.0M | 64% |
| Other | $308.0M | 22% |
| Warehouse Lease | $60.0M | 4% |
| Food Sales | $52.0M | 4% |
| E Commerce And Other | $46.0M | 3% |
| Railcar Lease | $23.0M | 2% |
| Service Other | $5.0M | 0% |
MAT
| North America Segment | $1.0B | 58% |
| International Segment | $745.6M | 42% |
