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万事达卡（MA）与纽蒙特（NEM）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纽蒙特的1.2倍（$8.8B vs $7.3B），万事达卡净利率更高（46.1% vs 26.0%，领先20.1%），万事达卡同比增速更快（17.6% vs -31.4%），万事达卡自由现金流更多（$4.9B vs $1.2B），过去两年纽蒙特的营收复合增速更高（28.8% vs 17.8%）
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。
纽蒙特公司是总部位于美国科罗拉多州丹佛市的金矿企业，为全球规模最大的金矿开采集团。公司成立于1921年，在全球十余个国家持有金矿资产，还与巴里克矿业共同持有内华达金矿的部分股权，除黄金外也开采铜、银、锌、铅等多种金属。
MA vs NEM — 直观对比
营收规模更大
MA
是对方的1.2倍
$7.3B
营收增速更快
MA
高出49.0%
-31.4%
净利率更高
MA
高出20.1%
26.0%
自由现金流更多
MA
多$3.7B
$1.2B
两年增速更快
NEM
近两年复合增速
17.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $8.8B | $7.3B |
| 净利润 | $4.1B | $1.9B |
| 毛利率 | — | — |
| 营业利润率 | 55.8% | — |
| 净利率 | 46.1% | 26.0% |
| 营收同比 | 17.6% | -31.4% |
| 净利润同比 | 21.5% | -8.3% |
| 每股收益（稀释后） | $4.52 | $1.68 |
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MANEM
| Q1 26 | — | $7.3B | ||
| Q4 25 | $8.8B | $6.8B | ||
| Q3 25 | $8.6B | $5.5B | ||
| Q2 25 | $8.1B | $5.3B | ||
| Q1 25 | $7.3B | $5.0B | ||
| Q4 24 | $7.5B | $5.7B | ||
| Q3 24 | $7.4B | $4.6B | ||
| Q2 24 | $7.0B | $4.4B |
净利润MANEM
| Q1 26 | — | $1.9B | ||
| Q4 25 | $4.1B | $1.3B | ||
| Q3 25 | $3.9B | $1.8B | ||
| Q2 25 | $3.7B | $2.1B | ||
| Q1 25 | $3.3B | $1.9B | ||
| Q4 24 | $3.3B | $1.4B | ||
| Q3 24 | $3.3B | $922.0M | ||
| Q2 24 | $3.3B | $853.0M |
营业利润率MANEM
| Q1 26 | — | — | ||
| Q4 25 | 55.8% | 47.6% | ||
| Q3 25 | 58.8% | 45.4% | ||
| Q2 25 | 58.7% | 58.6% | ||
| Q1 25 | 57.2% | 49.3% | ||
| Q4 24 | 52.6% | 36.3% | ||
| Q3 24 | 54.3% | 23.0% | ||
| Q2 24 | 58.0% | 23.5% |
净利率MANEM
| Q1 26 | — | 26.0% | ||
| Q4 25 | 46.1% | 19.1% | ||
| Q3 25 | 45.7% | 33.2% | ||
| Q2 25 | 45.5% | 38.8% | ||
| Q1 25 | 45.2% | 37.7% | ||
| Q4 24 | 44.6% | 24.8% | ||
| Q3 24 | 44.3% | 20.0% | ||
| Q2 24 | 46.8% | 19.4% |
每股收益（稀释后）MANEM
| Q1 26 | — | $1.68 | ||
| Q4 25 | $4.52 | $1.19 | ||
| Q3 25 | $4.34 | $1.67 | ||
| Q2 25 | $4.07 | $1.85 | ||
| Q1 25 | $3.59 | $1.68 | ||
| Q4 24 | $3.64 | $1.23 | ||
| Q3 24 | $3.53 | $0.80 | ||
| Q2 24 | $3.50 | $0.74 |
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 | $4.7B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.7B | $31.4B |
| 总资产 | $54.2B | $55.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MANEM
| Q1 26 | — | $4.7B | ||
| Q4 25 | $10.6B | $8.2B | ||
| Q3 25 | $10.3B | $6.0B | ||
| Q2 25 | $9.0B | $6.7B | ||
| Q1 25 | $7.6B | $4.7B | ||
| Q4 24 | $8.4B | $3.6B | ||
| Q3 24 | $11.1B | $3.1B | ||
| Q2 24 | $7.0B | $2.7B |
总债务MANEM
| Q1 26 | — | — | ||
| Q4 25 | — | $5.1B | ||
| Q3 25 | — | $5.2B | ||
| Q2 25 | — | $7.1B | ||
| Q1 25 | — | $7.5B | ||
| Q4 24 | — | $8.5B | ||
| Q3 24 | — | $8.6B | ||
| Q2 24 | — | $8.7B |
股东权益MANEM
| Q1 26 | — | $31.4B | ||
| Q4 25 | $7.7B | $33.9B | ||
| Q3 25 | $7.9B | $33.2B | ||
| Q2 25 | $7.9B | $32.1B | ||
| Q1 25 | $6.7B | $31.2B | ||
| Q4 24 | $6.5B | $29.9B | ||
| Q3 24 | $7.4B | $29.7B | ||
| Q2 24 | $7.4B | $29.4B |
总资产MANEM
| Q1 26 | — | $55.5B | ||
| Q4 25 | $54.2B | $57.1B | ||
| Q3 25 | $53.3B | $54.7B | ||
| Q2 25 | $51.4B | $55.2B | ||
| Q1 25 | $48.5B | $55.5B | ||
| Q4 24 | $48.1B | $56.3B | ||
| Q3 24 | $47.2B | $56.2B | ||
| Q2 24 | $42.3B | $55.7B |
负债/权益比MANEM
| Q1 26 | — | — | ||
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.22× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | — | 0.29× | ||
| Q2 24 | — | 0.30× |
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 | $1.2B |
| 自由现金流率自由现金流/营收 | 55.5% | 16.5% |
| 资本支出强度资本支出/营收 | 1.3% | 11.3% |
| 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 | $7.3B |
8季度趋势，按日历期对齐
经营现金流MANEM
| Q1 26 | — | — | ||
| Q4 25 | $5.0B | $3.6B | ||
| Q3 25 | $5.7B | $2.3B | ||
| Q2 25 | $4.6B | $2.4B | ||
| Q1 25 | $2.4B | $2.0B | ||
| Q4 24 | $4.8B | $2.5B | ||
| Q3 24 | $5.1B | $1.6B | ||
| Q2 24 | $3.1B | $1.4B |
自由现金流MANEM
| Q1 26 | — | $1.2B | ||
| Q4 25 | $4.9B | $2.8B | ||
| Q3 25 | $5.5B | $1.6B | ||
| Q2 25 | $4.6B | $1.7B | ||
| Q1 25 | $2.2B | $1.2B | ||
| Q4 24 | $4.7B | $1.6B | ||
| Q3 24 | $5.0B | $771.0M | ||
| Q2 24 | $3.0B | $628.0M |
自由现金流率MANEM
| Q1 26 | — | 16.5% | ||
| Q4 25 | 55.5% | 41.3% | ||
| Q3 25 | 63.8% | 28.4% | ||
| Q2 25 | 56.1% | 32.2% | ||
| Q1 25 | 30.6% | 24.1% | ||
| Q4 24 | 63.3% | 28.9% | ||
| Q3 24 | 68.2% | 16.7% | ||
| Q2 24 | 43.4% | 14.3% |
资本支出强度MANEM
| Q1 26 | — | 11.3% | ||
| Q4 25 | 1.3% | 11.9% | ||
| Q3 25 | 2.1% | 13.2% | ||
| Q2 25 | 0.5% | 12.7% | ||
| Q1 25 | 2.2% | 16.5% | ||
| Q4 24 | 1.3% | 15.5% | ||
| Q3 24 | 1.5% | 19.0% | ||
| Q2 24 | 1.7% | 18.2% |
现金转化率MANEM
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 2.78× | ||
| Q3 25 | 1.44× | 1.25× | ||
| Q2 25 | 1.24× | 1.16× | ||
| Q1 25 | 0.73× | 1.07× | ||
| Q4 24 | 1.45× | 1.79× | ||
| Q3 24 | 1.57× | 1.79× | ||
| Q2 24 | 0.96× | 1.67× |
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% |
NEM
| Consolidated gold sales, net | $6.0B | 83% |
| Other | $506.0M | 7% |
| Consolidated copper sales, net | $354.0M | 5% |
| Consolidated silver sales, net | $188.0M | 3% |
| Consolidated zinc sales, net | $181.0M | 2% |
| Consolidated lead sales, net | $42.0M | 1% |
