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Life Time Group Holdings, Inc.（LTH）与美森（MATX）财务数据对比。点击上方公司名可切换其他公司
美森的季度营收约是Life Time Group Holdings, Inc.的1.1倍（$851.9M vs $745.1M），美森净利率更高（16.8% vs 16.5%，领先0.3%），Life Time Group Holdings, Inc.同比增速更快（12.3% vs -4.3%），美森自由现金流更多（$42.2M vs $-9.9M），过去两年美森的营收复合增速更高（8.6% vs 5.6%）
Life Time Group Holdings是美国高端健身康养服务运营商，在全美运营连锁高端运动场馆，提供健身器材使用、团体课程、私教指导、SPA护理、营养咨询、青少年运动项目及联合办公等服务，服务于追求健康生活方式的消费群体。
美森公司（Matson, Inc.）是美国知名航运服务企业，总部位于夏威夷州火奴鲁鲁，成立于1882年。旗下子公司美森航运主营跨太平洋海运业务，服务覆盖夏威夷、阿拉斯加、关岛、密克罗尼西亚、太平洋诸岛、中国及日本等地区。
LTH vs MATX — 直观对比
营收规模更大
MATX
是对方的1.1倍
$745.1M
营收增速更快
LTH
高出16.6%
-4.3%
净利率更高
MATX
高出0.3%
16.5%
自由现金流更多
MATX
多$52.1M
$-9.9M
两年增速更快
MATX
近两年复合增速
5.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $745.1M | $851.9M |
| 净利润 | $123.0M | $143.1M |
| 毛利率 | — | — |
| 营业利润率 | 17.4% | 16.9% |
| 净利率 | 16.5% | 16.8% |
| 营收同比 | 12.3% | -4.3% |
| 净利润同比 | 230.6% | 11.8% |
| 每股收益（稀释后） | $0.54 | $4.47 |
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LTHMATX
| Q1 26 | $745.1M | — | ||
| Q4 25 | $745.1M | $851.9M | ||
| Q3 25 | $782.6M | $880.1M | ||
| Q2 25 | $761.5M | $830.5M | ||
| Q1 25 | $706.0M | $782.0M | ||
| Q4 24 | $663.3M | $890.3M | ||
| Q3 24 | $693.2M | $962.0M | ||
| Q2 24 | $667.8M | $847.4M |
净利润LTHMATX
| Q1 26 | $123.0M | — | ||
| Q4 25 | $123.0M | $143.1M | ||
| Q3 25 | $102.4M | $134.7M | ||
| Q2 25 | $72.1M | $94.7M | ||
| Q1 25 | $76.1M | $72.3M | ||
| Q4 24 | $37.2M | $128.0M | ||
| Q3 24 | $41.4M | $199.1M | ||
| Q2 24 | $52.8M | $113.2M |
毛利率LTHMATX
| Q1 26 | — | — | ||
| Q4 25 | 49.1% | — | ||
| Q3 25 | 47.1% | — | ||
| Q2 25 | 47.0% | — | ||
| Q1 25 | 47.5% | — | ||
| Q4 24 | 48.2% | — | ||
| Q3 24 | 46.5% | — | ||
| Q2 24 | 46.8% | — |
营业利润率LTHMATX
| Q1 26 | 17.4% | — | ||
| Q4 25 | 17.4% | 16.9% | ||
| Q3 25 | 17.3% | 18.3% | ||
| Q2 25 | 14.2% | 13.6% | ||
| Q1 25 | 15.2% | 10.5% | ||
| Q4 24 | 13.1% | 16.6% | ||
| Q3 24 | 13.5% | 25.2% | ||
| Q2 24 | 15.7% | 14.7% |
净利率LTHMATX
| Q1 26 | 16.5% | — | ||
| Q4 25 | 16.5% | 16.8% | ||
| Q3 25 | 13.1% | 15.3% | ||
| Q2 25 | 9.5% | 11.4% | ||
| Q1 25 | 10.8% | 9.2% | ||
| Q4 24 | 5.6% | 14.4% | ||
| Q3 24 | 6.0% | 20.7% | ||
| Q2 24 | 7.9% | 13.4% |
每股收益（稀释后）LTHMATX
| Q1 26 | $0.54 | — | ||
| Q4 25 | $0.55 | $4.47 | ||
| Q3 25 | $0.45 | $4.24 | ||
| Q2 25 | $0.32 | $2.92 | ||
| Q1 25 | $0.34 | $2.18 | ||
| Q4 24 | $0.17 | $3.69 | ||
| Q3 24 | $0.19 | $5.89 | ||
| Q2 24 | $0.26 | $3.31 |
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 | $204.8M | $141.9M |
| 总债务越低越好 | $1.5B | $361.2M |
| 股东权益账面价值 | $3.1B | $2.8B |
| 总资产 | $8.0B | $4.6B |
| 负债/权益比越低杠杆越低 | 0.48× | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资LTHMATX
| Q1 26 | $204.8M | — | ||
| Q4 25 | $204.8M | $141.9M | ||
| Q3 25 | $218.9M | $92.7M | ||
| Q2 25 | $175.5M | $59.1M | ||
| Q1 25 | $59.0M | $122.0M | ||
| Q4 24 | $10.9M | $266.8M | ||
| Q3 24 | $120.9M | $270.3M | ||
| Q2 24 | $34.5M | $168.2M |
总债务LTHMATX
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.5B | $361.2M | ||
| Q3 25 | $1.5B | $370.9M | ||
| Q2 25 | $1.5B | $341.3M | ||
| Q1 25 | $1.5B | $351.1M | ||
| Q4 24 | $1.5B | $361.2M | ||
| Q3 24 | $1.7B | $370.9M | ||
| Q2 24 | $1.8B | $381.0M |
股东权益LTHMATX
| Q1 26 | $3.1B | — | ||
| Q4 25 | $3.1B | $2.8B | ||
| Q3 25 | $3.0B | $2.7B | ||
| Q2 25 | $2.9B | $2.6B | ||
| Q1 25 | $2.7B | $2.6B | ||
| Q4 24 | $2.6B | $2.7B | ||
| Q3 24 | $2.6B | $2.6B | ||
| Q2 24 | $2.4B | $2.4B |
总资产LTHMATX
| Q1 26 | $8.0B | — | ||
| Q4 25 | $8.0B | $4.6B | ||
| Q3 25 | $7.8B | $4.6B | ||
| Q2 25 | $7.6B | $4.5B | ||
| Q1 25 | $7.3B | $4.5B | ||
| Q4 24 | $7.2B | $4.6B | ||
| Q3 24 | $7.2B | $4.4B | ||
| Q2 24 | $7.1B | $4.3B |
负债/权益比LTHMATX
| Q1 26 | 0.48× | — | ||
| Q4 25 | 0.48× | 0.13× | ||
| Q3 25 | 0.51× | 0.14× | ||
| Q2 25 | 0.53× | 0.13× | ||
| Q1 25 | 0.56× | 0.13× | ||
| Q4 24 | 0.59× | 0.14× | ||
| Q3 24 | 0.64× | 0.15× | ||
| Q2 24 | 0.78× | 0.16× |
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 | $870.5M | $176.9M |
| 自由现金流经营现金流 - 资本支出 | $-9.9M | $42.2M |
| 自由现金流率自由现金流/营收 | -1.3% | 5.0% |
| 资本支出强度资本支出/营收 | 32.2% | 15.8% |
| 现金转化率经营现金流/净利润 | 7.08× | 1.24× |
| 过去12个月自由现金流最近4个季度 | $-72.2M | $153.7M |
8季度趋势，按日历期对齐
经营现金流LTHMATX
| Q1 26 | $870.5M | — | ||
| Q4 25 | $239.9M | $176.9M | ||
| Q3 25 | $251.1M | $175.6M | ||
| Q2 25 | $195.7M | $105.6M | ||
| Q1 25 | $183.9M | $89.0M | ||
| Q4 24 | $163.1M | $174.7M | ||
| Q3 24 | $151.1M | $248.6M | ||
| Q2 24 | $170.4M | $307.9M |
自由现金流LTHMATX
| Q1 26 | $-9.9M | — | ||
| Q4 25 | $-64.6M | $42.2M | ||
| Q3 25 | $28.6M | $92.4M | ||
| Q2 25 | $-26.3M | $19.3M | ||
| Q1 25 | $41.4M | $-200.0K | ||
| Q4 24 | $26.8M | $49.3M | ||
| Q3 24 | $64.0M | $189.0M | ||
| Q2 24 | $26.1M | $238.1M |
自由现金流率LTHMATX
| Q1 26 | -1.3% | — | ||
| Q4 25 | -8.7% | 5.0% | ||
| Q3 25 | 3.7% | 10.5% | ||
| Q2 25 | -3.5% | 2.3% | ||
| Q1 25 | 5.9% | -0.0% | ||
| Q4 24 | 4.0% | 5.5% | ||
| Q3 24 | 9.2% | 19.6% | ||
| Q2 24 | 3.9% | 28.1% |
资本支出强度LTHMATX
| Q1 26 | 32.2% | — | ||
| Q4 25 | 40.9% | 15.8% | ||
| Q3 25 | 28.4% | 9.5% | ||
| Q2 25 | 29.2% | 10.4% | ||
| Q1 25 | 20.2% | 11.4% | ||
| Q4 24 | 20.6% | 14.1% | ||
| Q3 24 | 12.6% | 6.2% | ||
| Q2 24 | 21.6% | 8.2% |
现金转化率LTHMATX
| Q1 26 | 7.08× | — | ||
| Q4 25 | 1.95× | 1.24× | ||
| Q3 25 | 2.45× | 1.30× | ||
| Q2 25 | 2.71× | 1.12× | ||
| Q1 25 | 2.41× | 1.23× | ||
| Q4 24 | 4.39× | 1.36× | ||
| Q3 24 | 3.65× | 1.25× | ||
| Q2 24 | 3.23× | 2.72× |
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
LTH
| Center revenue | $726.3M | 97% |
| Other revenue | $18.8M | 3% |
MATX
| Ocean Transportation Segment | $704.2M | 83% |
| Logistics Services Segment | $147.7M | 17% |
