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万事达卡（MA）与3M（MMM）财务数据对比。点击上方公司名可切换其他公司
万事达卡的季度营收约是3M的1.5倍（$8.8B vs $6.0B），万事达卡净利率更高（46.1% vs 10.8%，领先35.3%），万事达卡同比增速更快（17.6% vs 1.3%），万事达卡自由现金流更多（$4.9B vs $2.0B），过去两年万事达卡的营收复合增速更高（17.8% vs -1.8%）
万事达卡是总部位于美国纽约帕切斯的跨国支付卡服务企业，核心业务为处理商户收单银行与持卡人发卡机构之间的支付交易，同时提供旗下品牌借记卡、信用卡、预付卡及相关配套支付服务，服务网络覆盖全球，于2006年公开上市。
3M是美国知名跨国综合企业，业务覆盖工业、劳动者安全防护、消费品等多个领域，总部位于圣保罗郊区的枫木市。公司现有超6万款产品，涵盖胶粘剂、研磨材料、防火防护产品、个人防护装备、窗膜、车漆保护膜、电子连接绝缘材料、汽车养护产品、光学膜等品类。
MA vs MMM — 直观对比
营收规模更大
MA
是对方的1.5倍
$6.0B
营收增速更快
MA
高出16.3%
1.3%
净利率更高
MA
高出35.3%
10.8%
自由现金流更多
MA
多$2.9B
$2.0B
两年增速更快
MA
近两年复合增速
-1.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $8.8B | $6.0B |
| 净利润 | $4.1B | $653.0M |
| 毛利率 | — | 40.7% |
| 营业利润率 | 55.8% | 23.2% |
| 净利率 | 46.1% | 10.8% |
| 营收同比 | 17.6% | 1.3% |
| 净利润同比 | 21.5% | -41.5% |
| 每股收益（稀释后） | $4.52 | $1.23 |
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MAMMM
| Q1 26 | — | $6.0B | ||
| Q4 25 | $8.8B | $6.1B | ||
| Q3 25 | $8.6B | $6.5B | ||
| Q2 25 | $8.1B | $6.3B | ||
| Q1 25 | $7.3B | $6.0B | ||
| Q4 24 | $7.5B | $6.0B | ||
| Q3 24 | $7.4B | $6.3B | ||
| Q2 24 | $7.0B | $6.3B |
净利润MAMMM
| Q1 26 | — | $653.0M | ||
| Q4 25 | $4.1B | $577.0M | ||
| Q3 25 | $3.9B | $834.0M | ||
| Q2 25 | $3.7B | $723.0M | ||
| Q1 25 | $3.3B | $1.1B | ||
| Q4 24 | $3.3B | $728.0M | ||
| Q3 24 | $3.3B | $1.4B | ||
| Q2 24 | $3.3B | $1.1B |
毛利率MAMMM
| Q1 26 | — | 40.7% | ||
| Q4 25 | — | 33.6% | ||
| Q3 25 | — | 41.8% | ||
| Q2 25 | — | 42.5% | ||
| Q1 25 | — | 41.6% | ||
| Q4 24 | — | 51.7% | ||
| Q3 24 | — | 42.1% | ||
| Q2 24 | — | 42.9% |
营业利润率MAMMM
| Q1 26 | — | 23.2% | ||
| Q4 25 | 55.8% | 13.0% | ||
| Q3 25 | 58.8% | 22.2% | ||
| Q2 25 | 58.7% | 18.0% | ||
| Q1 25 | 57.2% | 20.9% | ||
| Q4 24 | 52.6% | 12.2% | ||
| Q3 24 | 54.3% | 20.9% | ||
| Q2 24 | 58.0% | 20.3% |
净利率MAMMM
| Q1 26 | — | 10.8% | ||
| Q4 25 | 46.1% | 9.4% | ||
| Q3 25 | 45.7% | 12.8% | ||
| Q2 25 | 45.5% | 11.4% | ||
| Q1 25 | 45.2% | 18.7% | ||
| Q4 24 | 44.6% | 12.1% | ||
| Q3 24 | 44.3% | 21.8% | ||
| Q2 24 | 46.8% | 18.3% |
每股收益（稀释后）MAMMM
| Q1 26 | — | $1.23 | ||
| Q4 25 | $4.52 | $1.07 | ||
| Q3 25 | $4.34 | $1.55 | ||
| Q2 25 | $4.07 | $1.34 | ||
| Q1 25 | $3.59 | $2.04 | ||
| Q4 24 | $3.64 | $1.33 | ||
| Q3 24 | $3.53 | $2.48 | ||
| Q2 24 | $3.50 | $2.07 |
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 | $10.6B | $3.7B |
| 总债务越低越好 | — | $10.9B |
| 股东权益账面价值 | $7.7B | $3.3B |
| 总资产 | $54.2B | $35.4B |
| 负债/权益比越低杠杆越低 | — | 3.29× |
8季度趋势，按日历期对齐
现金及短期投资MAMMM
| Q1 26 | — | $3.7B | ||
| Q4 25 | $10.6B | — | ||
| Q3 25 | $10.3B | — | ||
| Q2 25 | $9.0B | — | ||
| Q1 25 | $7.6B | — | ||
| Q4 24 | $8.4B | — | ||
| Q3 24 | $11.1B | — | ||
| Q2 24 | $7.0B | — |
总债务MAMMM
| Q1 26 | — | $10.9B | ||
| Q4 25 | — | $12.6B | ||
| Q3 25 | — | $12.6B | ||
| Q2 25 | — | $13.1B | ||
| Q1 25 | — | $13.5B | ||
| Q4 24 | — | $13.0B | ||
| Q3 24 | — | $13.2B | ||
| Q2 24 | — | $13.1B |
股东权益MAMMM
| Q1 26 | — | $3.3B | ||
| Q4 25 | $7.7B | $4.7B | ||
| Q3 25 | $7.9B | $4.6B | ||
| Q2 25 | $7.9B | $4.3B | ||
| Q1 25 | $6.7B | $4.5B | ||
| Q4 24 | $6.5B | $3.8B | ||
| Q3 24 | $7.4B | $4.6B | ||
| Q2 24 | $7.4B | $3.9B |
总资产MAMMM
| Q1 26 | — | $35.4B | ||
| Q4 25 | $54.2B | $37.7B | ||
| Q3 25 | $53.3B | $37.6B | ||
| Q2 25 | $51.4B | $38.0B | ||
| Q1 25 | $48.5B | $40.0B | ||
| Q4 24 | $48.1B | $39.9B | ||
| Q3 24 | $47.2B | $40.9B | ||
| Q2 24 | $42.3B | $43.4B |
负债/权益比MAMMM
| Q1 26 | — | 3.29× | ||
| Q4 25 | — | 2.68× | ||
| Q3 25 | — | 2.72× | ||
| Q2 25 | — | 3.06× | ||
| Q1 25 | — | 3.02× | ||
| Q4 24 | — | 3.40× | ||
| Q3 24 | — | 2.84× | ||
| Q2 24 | — | 3.34× |
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 | $5.0B | — |
| 自由现金流经营现金流 - 资本支出 | $4.9B | $2.0B |
| 自由现金流率自由现金流/营收 | 55.5% | 33.6% |
| 资本支出强度资本支出/营收 | 1.3% | — |
| 现金转化率经营现金流/净利润 | 1.23× | — |
| 过去12个月自由现金流最近4个季度 | $17.2B | $3.7B |
8季度趋势，按日历期对齐
经营现金流MAMMM
| Q1 26 | — | — | ||
| Q4 25 | $5.0B | $1.6B | ||
| Q3 25 | $5.7B | $1.8B | ||
| Q2 25 | $4.6B | $-954.0M | ||
| Q1 25 | $2.4B | $-79.0M | ||
| Q4 24 | $4.8B | $1.8B | ||
| Q3 24 | $5.1B | $-1.8B | ||
| Q2 24 | $3.1B | $1.0B |
自由现金流MAMMM
| Q1 26 | — | $2.0B | ||
| Q4 25 | $4.9B | $1.3B | ||
| Q3 25 | $5.5B | $1.5B | ||
| Q2 25 | $4.6B | $-1.2B | ||
| Q1 25 | $2.2B | $-315.0M | ||
| Q4 24 | $4.7B | $1.5B | ||
| Q3 24 | $5.0B | $-2.0B | ||
| Q2 24 | $3.0B | $752.0M |
自由现金流率MAMMM
| Q1 26 | — | 33.6% | ||
| Q4 25 | 55.5% | 21.8% | ||
| Q3 25 | 63.8% | 23.6% | ||
| Q2 25 | 56.1% | -18.3% | ||
| Q1 25 | 30.6% | -5.3% | ||
| Q4 24 | 63.3% | 25.4% | ||
| Q3 24 | 68.2% | -32.3% | ||
| Q2 24 | 43.4% | 12.0% |
资本支出强度MAMMM
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 4.0% | ||
| Q3 25 | 2.1% | 3.3% | ||
| Q2 25 | 0.5% | 3.3% | ||
| Q1 25 | 2.2% | 4.0% | ||
| Q4 24 | 1.3% | 4.8% | ||
| Q3 24 | 1.5% | 3.9% | ||
| Q2 24 | 1.7% | 4.3% |
现金转化率MAMMM
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 2.74× | ||
| Q3 25 | 1.44× | 2.11× | ||
| Q2 25 | 1.24× | -1.32× | ||
| Q1 25 | 0.73× | -0.07× | ||
| Q4 24 | 1.45× | 2.50× | ||
| Q3 24 | 1.57× | -1.30× | ||
| Q2 24 | 0.96× | 0.89× |
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
MA
| Payment Network | $4.9B | 56% |
| Value Added Services And Solutions | $3.9B | 44% |
MMM
| Safety and Industrial business segment | $2.9B | 49% |
| Transportation and Electronics business segment | $1.8B | 31% |
| Consumer business segment | $1.1B | 19% |
| Corporate | $121.0M | 2% |
