vs
Mid-America Apartment Communities（MAA）与大都会人寿（MET）财务数据对比。点击上方公司名可切换其他公司
大都会人寿的季度营收约是Mid-America Apartment Communities的1.1倍（$600.0M vs $555.6M），大都会人寿净利率更高（134.8% vs 10.4%，领先124.5%），大都会人寿同比增速更快（7.9% vs 1.0%），过去两年大都会人寿的营收复合增速更高（2.0% vs 1.1%）
Mid-America Apartment Communities（股票代码：MAA）是一家公开上市的房地产投资信托基金，总部位于美国田纳西州孟菲斯市，核心业务为投资美国东南部及西南部地区的公寓物业，深耕美国高增长区域住宅不动产赛道，为股东创造稳定的长期投资回报。
大都会人寿（MetLife）是全球规模领先的保险、年金及员工福利服务提供商之一，创立于1868年，业务覆盖超60个国家和地区，服务约9000万客户，2018年位列《财富》美国500强营收排行榜第43位。
MAA vs MET — 直观对比
营收规模更大
MET
是对方的1.1倍
$555.6M
营收增速更快
MET
高出6.9%
1.0%
净利率更高
MET
高出124.5%
10.4%
两年增速更快
MET
近两年复合增速
1.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $555.6M | $600.0M |
| 净利润 | $57.6M | $809.0M |
| 毛利率 | — | — |
| 营业利润率 | 10.4% | — |
| 净利率 | 10.4% | 134.8% |
| 营收同比 | 1.0% | 7.9% |
| 净利润同比 | -65.5% | -36.3% |
| 每股收益（稀释后） | $0.48 | $1.18 |
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MAAMET
| Q4 25 | $555.6M | $600.0M | ||
| Q3 25 | $554.4M | $621.0M | ||
| Q2 25 | $549.9M | $604.0M | ||
| Q1 25 | $549.3M | $611.0M | ||
| Q4 24 | $549.8M | $556.0M | ||
| Q3 24 | $551.1M | $554.0M | ||
| Q2 24 | $546.4M | $558.0M | ||
| Q1 24 | $543.6M | $577.0M |
净利润MAAMET
| Q4 25 | $57.6M | $809.0M | ||
| Q3 25 | $99.5M | $896.0M | ||
| Q2 25 | $108.1M | $729.0M | ||
| Q1 25 | $181.7M | $945.0M | ||
| Q4 24 | $166.6M | $1.3B | ||
| Q3 24 | $115.2M | $1.3B | ||
| Q2 24 | $102.0M | $946.0M | ||
| Q1 24 | $143.7M | $867.0M |
营业利润率MAAMET
| Q4 25 | 10.4% | — | ||
| Q3 25 | 18.7% | — | ||
| Q2 25 | 20.2% | — | ||
| Q1 25 | 34.0% | — | ||
| Q4 24 | 31.3% | — | ||
| Q3 24 | 21.5% | — | ||
| Q2 24 | 19.3% | — | ||
| Q1 24 | 27.4% | — |
净利率MAAMET
| Q4 25 | 10.4% | 134.8% | ||
| Q3 25 | 18.0% | 144.3% | ||
| Q2 25 | 19.7% | 120.7% | ||
| Q1 25 | 33.1% | 154.7% | ||
| Q4 24 | 30.3% | 228.6% | ||
| Q3 24 | 20.9% | 242.2% | ||
| Q2 24 | 18.7% | 169.5% | ||
| Q1 24 | 26.4% | 150.3% |
每股收益（稀释后）MAAMET
| Q4 25 | $0.48 | $1.18 | ||
| Q3 25 | $0.84 | $1.22 | ||
| Q2 25 | $0.92 | $1.03 | ||
| Q1 25 | $1.54 | $1.28 | ||
| Q4 24 | $1.43 | $1.75 | ||
| Q3 24 | $0.98 | $1.81 | ||
| Q2 24 | $0.86 | $1.28 | ||
| Q1 24 | $1.22 | $1.10 |
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 | $60.3M | $25.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $5.7B | $28.4B |
| 总资产 | $12.0B | $745.2B |
| 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MAAMET
| Q4 25 | $60.3M | $25.6B | ||
| Q3 25 | $32.2M | $26.2B | ||
| Q2 25 | $54.5M | $27.5B | ||
| Q1 25 | $55.8M | $26.9B | ||
| Q4 24 | $43.0M | $25.2B | ||
| Q3 24 | $50.2M | $26.4B | ||
| Q2 24 | $62.8M | $24.6B | ||
| Q1 24 | $54.6M | $24.7B |
股东权益MAAMET
| Q4 25 | $5.7B | $28.4B | ||
| Q3 25 | $5.8B | $28.9B | ||
| Q2 25 | $5.9B | $27.7B | ||
| Q1 25 | $5.9B | $27.5B | ||
| Q4 24 | $5.9B | $27.4B | ||
| Q3 24 | $5.9B | $30.9B | ||
| Q2 24 | $6.0B | $27.3B | ||
| Q1 24 | $6.1B | $28.5B |
总资产MAAMET
| Q4 25 | $12.0B | $745.2B | ||
| Q3 25 | $11.9B | $719.7B | ||
| Q2 25 | $11.8B | $702.5B | ||
| Q1 25 | $11.8B | $688.3B | ||
| Q4 24 | $11.8B | $677.5B | ||
| Q3 24 | $11.8B | $705.0B | ||
| Q2 24 | $11.6B | $675.7B | ||
| Q1 24 | $11.5B | $677.6B |
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 | $261.7M | $7.1B |
| 自由现金流经营现金流 - 资本支出 | $158.6M | — |
| 自由现金流率自由现金流/营收 | 28.5% | — |
| 资本支出强度资本支出/营收 | 18.6% | — |
| 现金转化率经营现金流/净利润 | 4.55× | 8.75× |
| 过去12个月自由现金流最近4个季度 | $717.9M | — |
8季度趋势，按日历期对齐
经营现金流MAAMET
| Q4 25 | $261.7M | $7.1B | ||
| Q3 25 | $266.4M | $3.6B | ||
| Q2 25 | $353.4M | $2.2B | ||
| Q1 25 | $196.6M | $4.3B | ||
| Q4 24 | $239.1M | $4.6B | ||
| Q3 24 | $309.5M | $4.2B | ||
| Q2 24 | $349.4M | $3.5B | ||
| Q1 24 | $200.3M | $2.3B |
自由现金流MAAMET
| Q4 25 | $158.6M | — | ||
| Q3 25 | $170.8M | — | ||
| Q2 25 | $264.5M | — | ||
| Q1 25 | $124.0M | — | ||
| Q4 24 | $152.6M | — | ||
| Q3 24 | $215.5M | — | ||
| Q2 24 | $259.7M | — | ||
| Q1 24 | $148.2M | — |
自由现金流率MAAMET
| Q4 25 | 28.5% | — | ||
| Q3 25 | 30.8% | — | ||
| Q2 25 | 48.1% | — | ||
| Q1 25 | 22.6% | — | ||
| Q4 24 | 27.8% | — | ||
| Q3 24 | 39.1% | — | ||
| Q2 24 | 47.5% | — | ||
| Q1 24 | 27.3% | — |
资本支出强度MAAMET
| Q4 25 | 18.6% | — | ||
| Q3 25 | 17.2% | — | ||
| Q2 25 | 16.2% | — | ||
| Q1 25 | 13.2% | — | ||
| Q4 24 | 15.7% | — | ||
| Q3 24 | 17.1% | — | ||
| Q2 24 | 16.4% | — | ||
| Q1 24 | 9.6% | — |
现金转化率MAAMET
| Q4 25 | 4.55× | 8.75× | ||
| Q3 25 | 2.68× | 3.98× | ||
| Q2 25 | 3.27× | 3.00× | ||
| Q1 25 | 1.08× | 4.51× | ||
| Q4 24 | 1.43× | 3.63× | ||
| Q3 24 | 2.69× | 3.11× | ||
| Q2 24 | 3.43× | 3.69× | ||
| Q1 24 | 1.39× | 2.69× |
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
MAA
| Same Store | $515.5M | 93% |
| Non Same Store And Other | $36.8M | 7% |
MET
| Other | $165.0M | 28% |
| Prepaidlegalplansandadministrativeonlycontracts | $158.0M | 26% |
| Vision Fee For Service Arrangements | $140.0M | 23% |
| Administrative Service | $76.0M | 13% |
| Distribution Service | $36.0M | 6% |
| Feebasedinvestmentmanagementservices | $25.0M | 4% |
