vs
梅西百货（M）与史丹利百得（SWK）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史丹利百得的1.3倍（$4.7B vs $3.8B），史丹利百得净利率更高（1.4% vs 0.2%，领先1.1%），史丹利百得同比增速更快（0.1% vs -0.6%），史丹利百得自由现金流更多（$155.3M vs $-101.0M），过去两年史丹利百得的营收复合增速更高（0.3% 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。
史丹利百得是美国知名的工业工具、家用五金产品制造商，同时提供安防类产品，前身为史丹利工具有限公司，由史丹利与百得于2010年3月12日合并而来，总部位于康涅狄格州大哈特福德地区的新不列颠市。
M vs SWK — 直观对比
营收规模更大
M
是对方的1.3倍
$3.8B
营收增速更快
SWK
高出0.7%
-0.6%
净利率更高
SWK
高出1.1%
0.2%
自由现金流更多
SWK
多$256.3M
$-101.0M
两年增速更快
SWK
近两年复合增速
-23.8%
损益表 — Q3 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $3.8B |
| 净利润 | $11.0M | $51.4M |
| 毛利率 | 39.4% | 31.4% |
| 营业利润率 | 0.9% | — |
| 净利率 | 0.2% | 1.4% |
| 营收同比 | -0.6% | 0.1% |
| 净利润同比 | -60.7% | -43.6% |
| 每股收益（稀释后） | $0.04 | $0.34 |
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MSWK
| Q4 25 | $4.7B | — | ||
| Q3 25 | $4.8B | $3.8B | ||
| Q2 25 | $4.6B | $3.9B | ||
| Q1 25 | $7.8B | $3.7B | ||
| Q4 24 | $4.7B | $3.7B | ||
| Q3 24 | $4.9B | $3.8B | ||
| Q2 24 | $4.8B | $4.0B | ||
| Q1 24 | $8.1B | $3.9B |
净利润MSWK
| Q4 25 | $11.0M | — | ||
| Q3 25 | $87.0M | $51.4M | ||
| Q2 25 | $38.0M | $101.9M | ||
| Q1 25 | $342.0M | $90.4M | ||
| Q4 24 | $28.0M | $194.9M | ||
| Q3 24 | $150.0M | $91.1M | ||
| Q2 24 | $62.0M | $-11.2M | ||
| Q1 24 | $-71.0M | $19.5M |
毛利率MSWK
| Q4 25 | 39.4% | — | ||
| Q3 25 | 39.7% | 31.4% | ||
| Q2 25 | 39.2% | 27.0% | ||
| Q1 25 | 35.7% | 29.9% | ||
| Q4 24 | 39.6% | 30.8% | ||
| Q3 24 | 40.5% | 29.9% | ||
| Q2 24 | 39.2% | 28.4% | ||
| Q1 24 | 37.5% | 28.6% |
营业利润率MSWK
| Q4 25 | 0.9% | — | ||
| Q3 25 | 3.1% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 6.4% | — | ||
| Q4 24 | 1.3% | 3.4% | ||
| Q3 24 | 4.5% | 10.6% | ||
| Q2 24 | 2.6% | 9.5% | ||
| Q1 24 | -0.9% | 8.3% |
净利率MSWK
| Q4 25 | 0.2% | — | ||
| Q3 25 | 1.8% | 1.4% | ||
| Q2 25 | 0.8% | 2.6% | ||
| Q1 25 | 4.4% | 2.4% | ||
| Q4 24 | 0.6% | 5.2% | ||
| Q3 24 | 3.0% | 2.4% | ||
| Q2 24 | 1.3% | -0.3% | ||
| Q1 24 | -0.9% | 0.5% |
每股收益（稀释后）MSWK
| Q4 25 | $0.04 | — | ||
| Q3 25 | $0.31 | $0.34 | ||
| Q2 25 | $0.13 | $0.67 | ||
| Q1 25 | $1.22 | $0.60 | ||
| Q4 24 | $0.10 | $1.29 | ||
| Q3 24 | $0.53 | $0.60 | ||
| Q2 24 | $0.22 | $-0.07 | ||
| Q1 24 | $-0.25 | $0.13 |
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 | $268.3M |
| 总债务越低越好 | $2.4B | $5.3B |
| 股东权益账面价值 | $4.3B | $9.0B |
| 总资产 | $17.1B | $21.8B |
| 负债/权益比越低杠杆越低 | 0.56× | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资MSWK
| Q4 25 | $447.0M | — | ||
| Q3 25 | $829.0M | $268.3M | ||
| Q2 25 | $932.0M | $311.8M | ||
| Q1 25 | $1.3B | $344.8M | ||
| Q4 24 | $315.0M | $290.5M | ||
| Q3 24 | $646.0M | $298.7M | ||
| Q2 24 | $876.0M | $318.5M | ||
| Q1 24 | $1.0B | $476.6M |
总债务MSWK
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.4B | $5.3B | ||
| Q2 25 | $2.8B | $5.6B | ||
| Q1 25 | $2.8B | $5.6B | ||
| Q4 24 | $2.8B | $6.1B | ||
| Q3 24 | $3.0B | $6.1B | ||
| Q2 24 | $3.0B | $6.1B | ||
| Q1 24 | $3.0B | $6.1B |
股东权益MSWK
| Q4 25 | $4.3B | — | ||
| Q3 25 | $4.5B | $9.0B | ||
| Q2 25 | $4.5B | $9.1B | ||
| Q1 25 | $4.6B | $8.8B | ||
| Q4 24 | $4.1B | $8.7B | ||
| Q3 24 | $4.3B | $8.9B | ||
| Q2 24 | $4.2B | $8.7B | ||
| Q1 24 | $4.1B | $8.9B |
总资产MSWK
| Q4 25 | $17.1B | — | ||
| Q3 25 | $15.6B | $21.8B | ||
| Q2 25 | $16.1B | $22.5B | ||
| Q1 25 | $16.4B | $22.5B | ||
| Q4 24 | $17.3B | $21.8B | ||
| Q3 24 | $15.8B | $22.5B | ||
| Q2 24 | $16.4B | $22.5B | ||
| Q1 24 | $16.2B | $23.9B |
负债/权益比MSWK
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.55× | 0.59× | ||
| Q2 25 | 0.62× | 0.62× | ||
| Q1 25 | 0.61× | 0.63× | ||
| Q4 24 | 0.67× | 0.70× | ||
| Q3 24 | 0.70× | 0.69× | ||
| Q2 24 | 0.72× | 0.70× | ||
| Q1 24 | 0.72× | 0.69× |
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 | $221.2M |
| 自由现金流经营现金流 - 资本支出 | $-101.0M | $155.3M |
| 自由现金流率自由现金流/营收 | -2.1% | 4.1% |
| 资本支出强度资本支出/营收 | 2.0% | 1.8% |
| 现金转化率经营现金流/净利润 | -0.73× | 4.30× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $369.6M |
8季度趋势，按日历期对齐
经营现金流MSWK
| Q4 25 | $-8.0M | — | ||
| Q3 25 | $319.0M | $221.2M | ||
| Q2 25 | $-64.0M | $214.3M | ||
| Q1 25 | $1.3B | $-420.0M | ||
| Q4 24 | $-167.0M | $679.1M | ||
| Q3 24 | $8.0M | $285.8M | ||
| Q2 24 | $129.0M | $573.0M | ||
| Q1 24 | $1.1B | $-431.0M |
自由现金流MSWK
| Q4 25 | $-101.0M | — | ||
| Q3 25 | $240.0M | $155.3M | ||
| Q2 25 | $-164.0M | $134.7M | ||
| Q1 25 | $1.2B | $-485.0M | ||
| Q4 24 | $-295.0M | $564.6M | ||
| Q3 24 | $-109.0M | $199.3M | ||
| Q2 24 | $-25.0M | $485.8M | ||
| Q1 24 | $1.0B | $-496.7M |
自由现金流率MSWK
| Q4 25 | -2.1% | — | ||
| Q3 25 | 5.0% | 4.1% | ||
| Q2 25 | -3.6% | 3.4% | ||
| Q1 25 | 15.3% | -13.0% | ||
| Q4 24 | -6.2% | 15.2% | ||
| Q3 24 | -2.2% | 5.3% | ||
| Q2 24 | -0.5% | 12.1% | ||
| Q1 24 | 12.3% | -12.8% |
资本支出强度MSWK
| Q4 25 | 2.0% | — | ||
| Q3 25 | 1.6% | 1.8% | ||
| Q2 25 | 2.2% | 2.0% | ||
| Q1 25 | 1.5% | 1.7% | ||
| Q4 24 | 2.7% | 3.1% | ||
| Q3 24 | 2.4% | 2.3% | ||
| Q2 24 | 3.2% | 2.2% | ||
| Q1 24 | 1.8% | 1.7% |
现金转化率MSWK
| Q4 25 | -0.73× | — | ||
| Q3 25 | 3.67× | 4.30× | ||
| Q2 25 | -1.68× | 2.10× | ||
| Q1 25 | 3.82× | -4.65× | ||
| Q4 24 | -5.96× | 3.48× | ||
| Q3 24 | 0.05× | 3.14× | ||
| Q2 24 | 2.08× | — | ||
| Q1 24 | — | -22.10× |
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% |
SWK
| Tools And Outdoor Segment | $3.3B | 87% |
| Engineered Fastening Segment | $500.5M | 13% |
