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万事达卡（MA）与TJX Companies（TJX）财务数据对比。点击上方公司名可切换其他公司
TJX Companies的季度营收约是万事达卡的1.7倍（$15.1B vs $8.8B），万事达卡净利率更高（46.1% vs 9.5%，领先36.6%），万事达卡同比增速更快（17.6% vs 7.5%），万事达卡自由现金流更多（$4.9B vs $1.0B），过去两年万事达卡的营收复合增速更高（17.8% vs -4.0%）
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。
TJX Companies是美国跨国折扣百货零售集团，总部位于马萨诸塞州弗雷明汉。1987年作为Zayre集团的子公司成立，1989年完成企业重组后成为Zayre集团的法定承继主体，是全球折扣零售行业的领先企业，业务布局覆盖全球多个主要市场。
MA vs TJX — 直观对比
营收规模更大
TJX
是对方的1.7倍
$8.8B
营收增速更快
MA
高出10.1%
7.5%
净利率更高
MA
高出36.6%
9.5%
自由现金流更多
MA
多$3.9B
$1.0B
两年增速更快
MA
近两年复合增速
-4.0%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $8.8B | $15.1B |
| 净利润 | $4.1B | $1.4B |
| 毛利率 | — | 32.6% |
| 营业利润率 | 55.8% | — |
| 净利率 | 46.1% | 9.5% |
| 营收同比 | 17.6% | 7.5% |
| 净利润同比 | 21.5% | 11.2% |
| 每股收益（稀释后） | $4.52 | $1.28 |
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MATJX
| Q4 25 | $8.8B | $15.1B | ||
| Q3 25 | $8.6B | $14.4B | ||
| Q2 25 | $8.1B | $13.1B | ||
| Q1 25 | $7.3B | $16.4B | ||
| Q4 24 | $7.5B | $14.1B | ||
| Q3 24 | $7.4B | $13.5B | ||
| Q2 24 | $7.0B | $12.5B | ||
| Q1 24 | $6.3B | $16.4B |
净利润MATJX
| Q4 25 | $4.1B | $1.4B | ||
| Q3 25 | $3.9B | $1.2B | ||
| Q2 25 | $3.7B | $1.0B | ||
| Q1 25 | $3.3B | $1.4B | ||
| Q4 24 | $3.3B | $1.3B | ||
| Q3 24 | $3.3B | $1.1B | ||
| Q2 24 | $3.3B | $1.1B | ||
| Q1 24 | $3.0B | $1.4B |
毛利率MATJX
| Q4 25 | — | 32.6% | ||
| Q3 25 | — | 30.7% | ||
| Q2 25 | — | 29.5% | ||
| Q1 25 | — | 30.5% | ||
| Q4 24 | — | 31.6% | ||
| Q3 24 | — | 30.4% | ||
| Q2 24 | — | 30.0% | ||
| Q1 24 | — | 29.8% |
营业利润率MATJX
| Q4 25 | 55.8% | — | ||
| Q3 25 | 58.8% | — | ||
| Q2 25 | 58.7% | — | ||
| Q1 25 | 57.2% | 11.6% | ||
| Q4 24 | 52.6% | 12.3% | ||
| Q3 24 | 54.3% | 10.9% | ||
| Q2 24 | 58.0% | 11.1% | ||
| Q1 24 | 56.8% | 11.2% |
净利率MATJX
| Q4 25 | 46.1% | 9.5% | ||
| Q3 25 | 45.7% | 8.6% | ||
| Q2 25 | 45.5% | 7.9% | ||
| Q1 25 | 45.2% | 8.6% | ||
| Q4 24 | 44.6% | 9.2% | ||
| Q3 24 | 44.3% | 8.2% | ||
| Q2 24 | 46.8% | 8.6% | ||
| Q1 24 | 47.4% | 8.5% |
每股收益（稀释后）MATJX
| Q4 25 | $4.52 | $1.28 | ||
| Q3 25 | $4.34 | $1.10 | ||
| Q2 25 | $4.07 | $0.92 | ||
| Q1 25 | $3.59 | $1.23 | ||
| Q4 24 | $3.64 | $1.14 | ||
| Q3 24 | $3.53 | $0.96 | ||
| Q2 24 | $3.50 | $0.93 | ||
| Q1 24 | $3.22 | $1.22 |
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 | $10.6B | $4.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.7B | $9.4B |
| 总资产 | $54.2B | $35.2B |
| 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MATJX
| Q4 25 | $10.6B | $4.6B | ||
| Q3 25 | $10.3B | $4.6B | ||
| Q2 25 | $9.0B | $4.3B | ||
| Q1 25 | $7.6B | $5.3B | ||
| Q4 24 | $8.4B | $4.7B | ||
| Q3 24 | $11.1B | $5.3B | ||
| Q2 24 | $7.0B | $5.1B | ||
| Q1 24 | $7.3B | $5.6B |
股东权益MATJX
| Q4 25 | $7.7B | $9.4B | ||
| Q3 25 | $7.9B | $8.9B | ||
| Q2 25 | $7.9B | $8.5B | ||
| Q1 25 | $6.7B | $8.4B | ||
| Q4 24 | $6.5B | $8.2B | ||
| Q3 24 | $7.4B | $7.8B | ||
| Q2 24 | $7.4B | $7.5B | ||
| Q1 24 | $7.2B | $7.3B |
总资产MATJX
| Q4 25 | $54.2B | $35.2B | ||
| Q3 25 | $53.3B | $32.9B | ||
| Q2 25 | $51.4B | $31.9B | ||
| Q1 25 | $48.5B | $31.7B | ||
| Q4 24 | $48.1B | $32.4B | ||
| Q3 24 | $47.2B | $30.6B | ||
| Q2 24 | $42.3B | $29.7B | ||
| Q1 24 | $42.6B | $29.7B |
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 | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $4.9B | $1.0B |
| 自由现金流率自由现金流/营收 | 55.5% | 6.6% |
| 资本支出强度资本支出/营收 | 1.3% | 3.5% |
| 现金转化率经营现金流/净利润 | 1.23× | 1.06× |
| 过去12个月自由现金流最近4个季度 | $17.2B | $4.4B |
8季度趋势，按日历期对齐
经营现金流MATJX
| Q4 25 | $5.0B | $1.5B | ||
| Q3 25 | $5.7B | $1.8B | ||
| Q2 25 | $4.6B | $394.0M | ||
| Q1 25 | $2.4B | $2.7B | ||
| Q4 24 | $4.8B | $1.0B | ||
| Q3 24 | $5.1B | $1.6B | ||
| Q2 24 | $3.1B | $737.0M | ||
| Q1 24 | $1.7B | $2.8B |
自由现金流MATJX
| Q4 25 | $4.9B | $1.0B | ||
| Q3 25 | $5.5B | $1.3B | ||
| Q2 25 | $4.6B | $-103.0M | ||
| Q1 25 | $2.2B | $2.2B | ||
| Q4 24 | $4.7B | $624.0M | ||
| Q3 24 | $5.0B | $1.1B | ||
| Q2 24 | $3.0B | $318.0M | ||
| Q1 24 | $1.5B | $2.4B |
自由现金流率MATJX
| Q4 25 | 55.5% | 6.6% | ||
| Q3 25 | 63.8% | 9.2% | ||
| Q2 25 | 56.1% | -0.8% | ||
| Q1 25 | 30.6% | 13.4% | ||
| Q4 24 | 63.3% | 4.4% | ||
| Q3 24 | 68.2% | 7.9% | ||
| Q2 24 | 43.4% | 2.5% | ||
| Q1 24 | 23.9% | 14.4% |
资本支出强度MATJX
| Q4 25 | 1.3% | 3.5% | ||
| Q3 25 | 2.1% | 3.2% | ||
| Q2 25 | 0.5% | 3.8% | ||
| Q1 25 | 2.2% | 3.1% | ||
| Q4 24 | 1.3% | 3.0% | ||
| Q3 24 | 1.5% | 4.2% | ||
| Q2 24 | 1.7% | 3.4% | ||
| Q1 24 | 2.5% | 2.7% |
现金转化率MATJX
| Q4 25 | 1.23× | 1.06× | ||
| Q3 25 | 1.44× | 1.44× | ||
| Q2 25 | 1.24× | 0.38× | ||
| Q1 25 | 0.73× | 1.93× | ||
| Q4 24 | 1.45× | 0.81× | ||
| Q3 24 | 1.57× | 1.48× | ||
| Q2 24 | 0.96× | 0.69× | ||
| Q1 24 | 0.56× | 2.00× |
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% |
TJX
| Marmaxx | $9.0B | 60% |
| Home Goods | $2.5B | 17% |
| TJX International | $2.0B | 14% |
| Tjx Canada | $1.5B | 10% |
