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梅西百货（M）与信安金融集团（PFG）财务数据对比。点击上方公司名可切换其他公司
梅西百货的季度营收约是信安金融集团的1.0倍（$4.7B vs $4.6B），信安金融集团净利率更高（11.3% vs 0.2%，领先11.1%），梅西百货同比增速更快（-0.6% vs -3.7%），过去两年信安金融集团的营收复合增速更高（6.3% vs -23.8%）
梅西百货是美国知名百货控股集团，1929年成立时名为联合百货，最初持有Abraham & Straus、Lazarus等多个区域连锁百货品牌，次年布鲁明戴尔正式加入。集团早年频繁开展资产并购与剥离，1994年收购1858年创立的老牌百货梅西，随后更名并发展为美国头部百货零售企业。
信安金融集团（股票代码：PFG）是总部位于美国艾奥瓦州得梅因的全球性金融服务企业，核心业务涵盖投资管理、保险服务两大板块，在全球多个区域开展业务，为机构客户和个人用户提供专业定制化的金融解决方案，在行业内拥有较高知名度。
M vs PFG — 直观对比
营收规模更大
M
是对方的1.0倍
$4.6B
营收增速更快
M
高出3.1%
-3.7%
净利率更高
PFG
高出11.1%
0.2%
两年增速更快
PFG
近两年复合增速
-23.8%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $4.6B |
| 净利润 | $11.0M | $517.0M |
| 毛利率 | 39.4% | — |
| 营业利润率 | 0.9% | — |
| 净利率 | 0.2% | 11.3% |
| 营收同比 | -0.6% | -3.7% |
| 净利润同比 | -60.7% | -42.9% |
| 每股收益（稀释后） | $0.04 | $2.30 |
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MPFG
| Q4 25 | $4.7B | $4.6B | ||
| Q3 25 | $4.8B | $3.7B | ||
| Q2 25 | $4.6B | $3.7B | ||
| Q1 25 | $7.8B | $3.7B | ||
| Q4 24 | $4.7B | $4.8B | ||
| Q3 24 | $4.9B | $3.0B | ||
| Q2 24 | $4.8B | $4.3B | ||
| Q1 24 | $8.1B | $4.1B |
净利润MPFG
| Q4 25 | $11.0M | $517.0M | ||
| Q3 25 | $87.0M | $213.8M | ||
| Q2 25 | $38.0M | $406.2M | ||
| Q1 25 | $342.0M | $48.1M | ||
| Q4 24 | $28.0M | $905.4M | ||
| Q3 24 | $150.0M | $-220.0M | ||
| Q2 24 | $62.0M | $353.1M | ||
| Q1 24 | $-71.0M | $532.5M |
毛利率MPFG
| Q4 25 | 39.4% | — | ||
| Q3 25 | 39.7% | — | ||
| Q2 25 | 39.2% | — | ||
| Q1 25 | 35.7% | — | ||
| Q4 24 | 39.6% | — | ||
| Q3 24 | 40.5% | — | ||
| Q2 24 | 39.2% | — | ||
| Q1 24 | 37.5% | — |
营业利润率MPFG
| Q4 25 | 0.9% | — | ||
| Q3 25 | 3.1% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 6.4% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 4.5% | — | ||
| Q2 24 | 2.6% | — | ||
| Q1 24 | -0.9% | — |
净利率MPFG
| Q4 25 | 0.2% | 11.3% | ||
| Q3 25 | 1.8% | 5.8% | ||
| Q2 25 | 0.8% | 11.1% | ||
| Q1 25 | 4.4% | 1.3% | ||
| Q4 24 | 0.6% | 19.1% | ||
| Q3 24 | 3.0% | -7.3% | ||
| Q2 24 | 1.3% | 8.2% | ||
| Q1 24 | -0.9% | 13.1% |
每股收益（稀释后）MPFG
| Q4 25 | $0.04 | $2.30 | ||
| Q3 25 | $0.31 | $0.95 | ||
| Q2 25 | $0.13 | $1.79 | ||
| Q1 25 | $1.22 | $0.21 | ||
| Q4 24 | $0.10 | $3.92 | ||
| Q3 24 | $0.53 | $-0.95 | ||
| Q2 24 | $0.22 | $1.49 | ||
| Q1 24 | $-0.25 | $2.22 |
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 | $447.0M | $4.4B |
| 总债务越低越好 | $2.4B | $3.9B |
| 股东权益账面价值 | $4.3B | $11.9B |
| 总资产 | $17.1B | $341.4B |
| 负债/权益比越低杠杆越低 | 0.56× | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资MPFG
| Q4 25 | $447.0M | $4.4B | ||
| Q3 25 | $829.0M | $5.1B | ||
| Q2 25 | $932.0M | $3.7B | ||
| Q1 25 | $1.3B | $3.9B | ||
| Q4 24 | $315.0M | $4.2B | ||
| Q3 24 | $646.0M | $6.2B | ||
| Q2 24 | $876.0M | $4.8B | ||
| Q1 24 | $1.0B | $4.2B |
总债务MPFG
| Q4 25 | $2.4B | $3.9B | ||
| Q3 25 | $2.4B | $3.9B | ||
| Q2 25 | $2.8B | $3.9B | ||
| Q1 25 | $2.8B | $4.3B | ||
| Q4 24 | $2.8B | $4.0B | ||
| Q3 24 | $3.0B | $3.9B | ||
| Q2 24 | $3.0B | $3.9B | ||
| Q1 24 | $3.0B | $3.9B |
股东权益MPFG
| Q4 25 | $4.3B | $11.9B | ||
| Q3 25 | $4.5B | $11.7B | ||
| Q2 25 | $4.5B | $11.4B | ||
| Q1 25 | $4.6B | $11.2B | ||
| Q4 24 | $4.1B | $11.1B | ||
| Q3 24 | $4.3B | $11.2B | ||
| Q2 24 | $4.2B | $11.0B | ||
| Q1 24 | $4.1B | $11.2B |
总资产MPFG
| Q4 25 | $17.1B | $341.4B | ||
| Q3 25 | $15.6B | $334.5B | ||
| Q2 25 | $16.1B | $323.1B | ||
| Q1 25 | $16.4B | $313.0B | ||
| Q4 24 | $17.3B | $313.7B | ||
| Q3 24 | $15.8B | $322.9B | ||
| Q2 24 | $16.4B | $308.8B | ||
| Q1 24 | $16.2B | $308.7B |
负债/权益比MPFG
| Q4 25 | 0.56× | 0.33× | ||
| Q3 25 | 0.55× | 0.34× | ||
| Q2 25 | 0.62× | 0.34× | ||
| Q1 25 | 0.61× | 0.39× | ||
| Q4 24 | 0.67× | 0.36× | ||
| Q3 24 | 0.70× | 0.35× | ||
| Q2 24 | 0.72× | 0.36× | ||
| Q1 24 | 0.72× | 0.35× |
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 | $-8.0M | $1.7B |
| 自由现金流经营现金流 - 资本支出 | $-101.0M | — |
| 自由现金流率自由现金流/营收 | -2.1% | — |
| 资本支出强度资本支出/营收 | 2.0% | — |
| 现金转化率经营现金流/净利润 | -0.73× | 3.37× |
| 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MPFG
| Q4 25 | $-8.0M | $1.7B | ||
| Q3 25 | $319.0M | $1.0B | ||
| Q2 25 | $-64.0M | $811.9M | ||
| Q1 25 | $1.3B | $977.3M | ||
| Q4 24 | $-167.0M | $1.5B | ||
| Q3 24 | $8.0M | $1.1B | ||
| Q2 24 | $129.0M | $1.4B | ||
| Q1 24 | $1.1B | $584.2M |
自由现金流MPFG
| Q4 25 | $-101.0M | — | ||
| Q3 25 | $240.0M | — | ||
| Q2 25 | $-164.0M | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $-295.0M | — | ||
| Q3 24 | $-109.0M | — | ||
| Q2 24 | $-25.0M | — | ||
| Q1 24 | $1.0B | — |
自由现金流率MPFG
| Q4 25 | -2.1% | — | ||
| Q3 25 | 5.0% | — | ||
| Q2 25 | -3.6% | — | ||
| Q1 25 | 15.3% | — | ||
| Q4 24 | -6.2% | — | ||
| Q3 24 | -2.2% | — | ||
| Q2 24 | -0.5% | — | ||
| Q1 24 | 12.3% | — |
资本支出强度MPFG
| Q4 25 | 2.0% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 2.2% | — | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 1.8% | — |
现金转化率MPFG
| Q4 25 | -0.73× | 3.37× | ||
| Q3 25 | 3.67× | 4.70× | ||
| Q2 25 | -1.68× | 2.00× | ||
| Q1 25 | 3.82× | 20.32× | ||
| Q4 24 | -5.96× | 1.61× | ||
| Q3 24 | 0.05× | — | ||
| Q2 24 | 2.08× | 4.05× | ||
| Q1 24 | — | 1.10× |
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
M
| Womens Accessories Shoes Cosmetics And Fragrances | $1.9B | 41% |
| Womens Apparel | $1.1B | 23% |
| Mens And Kids | $1.0B | 22% |
| Home Other | $638.0M | 14% |
| Credit Card Revenues Net | $158.0M | 3% |
| Macys Media Network Revenue Net | $42.0M | 1% |
PFG
| Segment Retirement And Income Solutions | $1.6B | 36% |
| Segment Benefits And Protection | $1.1B | 23% |
| Other | $582.8M | 13% |
| Segment Principal Asset Management | $465.6M | 10% |
| Subsegment Investment Management | $449.4M | 10% |
| Administrative Service | $152.2M | 3% |
| Subsegment International Pension | $91.2M | 2% |
| Segment Corporate | $73.0M | 2% |
| Subsegment Life Insurance | $26.1M | 1% |
| Financial Service Other | $25.1M | 1% |
| Residential Mortgage | $7.4M | 0% |
| Subsegment Specialty Benefits | $3.7M | 0% |
| Deposit Account | $3.4M | 0% |
| Commission Income | $1.8M | 0% |
