vs
MACERICH CO（MAC）与迈心诺（MASI）财务数据对比。点击上方公司名可切换其他公司
迈心诺的季度营收约是MACERICH CO的1.4倍（$371.5M vs $261.7M），MACERICH CO净利率更高（-7.2% vs -27.0%，领先19.9%），MACERICH CO同比增速更快（-4.4% vs -26.4%），过去两年MACERICH CO的营收复合增速更高（12.0% vs -17.7%）
Macerich是一家专注于购物中心投资的房地产投资信托基金，为美国第三大购物中心持有及运营商。截至2024年12月31日，公司共持有43处物业的权益，可租赁总面积达4300万平方英尺，公司名称由创始人Mace Siegel与Richard Cohen的名字组合而来。
迈心诺（Masimo Corporation）是总部位于美国加利福尼亚州尔湾的健康科技及消费电子企业，核心产品包括面向医院及家用场景的患者监护设备、无创传感器及配套软件平台，同时也布局了消费级音频和可穿戴设备赛道。
MAC vs MASI — 直观对比
营收规模更大
MASI
是对方的1.4倍
$261.7M
营收增速更快
MAC
高出22.0%
-26.4%
净利率更高
MAC
高出19.9%
-27.0%
两年增速更快
MAC
近两年复合增速
-17.7%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $261.7M | $371.5M |
| 净利润 | $-18.8M | $-100.4M |
| 毛利率 | — | 62.1% |
| 营业利润率 | — | 22.5% |
| 净利率 | -7.2% | -27.0% |
| 营收同比 | -4.4% | -26.4% |
| 净利润同比 | 91.1% | -1124.5% |
| 每股收益（稀释后） | $-0.08 | $-1.84 |
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MACMASI
| Q4 25 | $261.7M | — | ||
| Q3 25 | $253.3M | $371.5M | ||
| Q2 25 | $249.8M | $370.9M | ||
| Q1 25 | $249.2M | $372.0M | ||
| Q4 24 | $273.7M | $600.7M | ||
| Q3 24 | $220.2M | $504.6M | ||
| Q2 24 | $215.5M | $496.3M | ||
| Q1 24 | $208.8M | $492.8M |
净利润MACMASI
| Q4 25 | $-18.8M | — | ||
| Q3 25 | $-87.4M | $-100.4M | ||
| Q2 25 | $-40.9M | $51.3M | ||
| Q1 25 | $-50.1M | $-170.7M | ||
| Q4 24 | $-211.2M | $-349.6M | ||
| Q3 24 | $-108.2M | $9.8M | ||
| Q2 24 | $252.0M | $16.0M | ||
| Q1 24 | $-126.7M | $18.9M |
毛利率MACMASI
| Q4 25 | — | — | ||
| Q3 25 | — | 62.1% | ||
| Q2 25 | — | 62.9% | ||
| Q1 25 | — | 62.9% | ||
| Q4 24 | — | 40.7% | ||
| Q3 24 | — | 52.2% | ||
| Q2 24 | — | 51.3% | ||
| Q1 24 | — | 49.0% |
营业利润率MACMASI
| Q4 25 | — | — | ||
| Q3 25 | — | 22.5% | ||
| Q2 25 | — | 17.4% | ||
| Q1 25 | — | 21.0% | ||
| Q4 24 | — | -59.8% | ||
| Q3 24 | — | 6.0% | ||
| Q2 24 | — | 5.7% | ||
| Q1 24 | — | 6.9% |
净利率MACMASI
| Q4 25 | -7.2% | — | ||
| Q3 25 | -34.5% | -27.0% | ||
| Q2 25 | -16.4% | 13.8% | ||
| Q1 25 | -20.1% | -45.9% | ||
| Q4 24 | -77.2% | -58.2% | ||
| Q3 24 | -49.1% | 1.9% | ||
| Q2 24 | 116.9% | 3.2% | ||
| Q1 24 | -60.7% | 3.8% |
每股收益（稀释后）MACMASI
| Q4 25 | $-0.08 | — | ||
| Q3 25 | $-0.34 | $-1.84 | ||
| Q2 25 | $-0.16 | $0.94 | ||
| Q1 25 | $-0.20 | $-3.12 | ||
| Q4 24 | $-0.95 | $-6.54 | ||
| Q3 24 | $-0.50 | $0.18 | ||
| Q2 24 | $1.16 | $0.29 | ||
| Q1 24 | $-0.59 | $0.35 |
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 | $280.2M | $312.3M |
| 总债务越低越好 | $5.1B | $559.1M |
| 股东权益账面价值 | $2.4B | $810.0M |
| 总资产 | $8.4B | $1.8B |
| 负债/权益比越低杠杆越低 | 2.07× | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资MACMASI
| Q4 25 | $280.2M | — | ||
| Q3 25 | $290.2M | $312.3M | ||
| Q2 25 | $131.1M | $149.6M | ||
| Q1 25 | $253.2M | $130.8M | ||
| Q4 24 | $89.9M | $177.6M | ||
| Q3 24 | $116.5M | $158.5M | ||
| Q2 24 | $70.7M | $129.6M | ||
| Q1 24 | $120.1M | $157.6M |
总债务MACMASI
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.1B | $559.1M | ||
| Q2 25 | $5.2B | $613.7M | ||
| Q1 25 | $5.2B | $651.0M | ||
| Q4 24 | $4.9B | $765.2M | ||
| Q3 24 | $4.3B | $772.6M | ||
| Q2 24 | $4.4B | $781.6M | ||
| Q1 24 | $4.1B | $876.0M |
股东权益MACMASI
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.5B | $810.0M | ||
| Q2 25 | $2.6B | $1.0B | ||
| Q1 25 | $2.7B | $946.4M | ||
| Q4 24 | $2.8B | $1.1B | ||
| Q3 24 | $2.5B | $1.5B | ||
| Q2 24 | $2.5B | $1.4B | ||
| Q1 24 | $2.3B | $1.4B |
总资产MACMASI
| Q4 25 | $8.4B | — | ||
| Q3 25 | $8.4B | $1.8B | ||
| Q2 25 | $8.7B | $2.4B | ||
| Q1 25 | $8.7B | $2.3B | ||
| Q4 24 | $8.6B | $2.6B | ||
| Q3 24 | $7.6B | $3.1B | ||
| Q2 24 | $7.8B | $2.9B | ||
| Q1 24 | $7.4B | $3.0B |
负债/权益比MACMASI
| Q4 25 | 2.07× | — | ||
| Q3 25 | 2.02× | 0.69× | ||
| Q2 25 | 2.02× | 0.59× | ||
| Q1 25 | 1.96× | 0.69× | ||
| Q4 24 | 1.78× | 0.73× | ||
| Q3 24 | 1.73× | 0.53× | ||
| Q2 24 | 1.75× | 0.57× | ||
| Q1 24 | 1.79× | 0.64× |
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 | $50.2M | $56.8M |
| 自由现金流经营现金流 - 资本支出 | — | $50.9M |
| 自由现金流率自由现金流/营收 | — | 13.7% |
| 资本支出强度资本支出/营收 | — | 1.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $191.0M |
8季度趋势，按日历期对齐
经营现金流MACMASI
| Q4 25 | $50.2M | — | ||
| Q3 25 | $112.4M | $56.8M | ||
| Q2 25 | $70.5M | $69.4M | ||
| Q1 25 | $88.5M | $31.1M | ||
| Q4 24 | $54.9M | $50.5M | ||
| Q3 24 | $100.0M | $25.6M | ||
| Q2 24 | $67.4M | $74.5M | ||
| Q1 24 | $61.1M | $45.8M |
自由现金流MACMASI
| Q4 25 | — | — | ||
| Q3 25 | — | $50.9M | ||
| Q2 25 | — | $65.6M | ||
| Q1 25 | — | $28.5M | ||
| Q4 24 | — | $46.0M | ||
| Q3 24 | — | $16.9M | ||
| Q2 24 | — | $66.9M | ||
| Q1 24 | — | $37.6M |
自由现金流率MACMASI
| Q4 25 | — | — | ||
| Q3 25 | — | 13.7% | ||
| Q2 25 | — | 17.7% | ||
| Q1 25 | — | 7.7% | ||
| Q4 24 | — | 7.7% | ||
| Q3 24 | — | 3.3% | ||
| Q2 24 | — | 13.5% | ||
| Q1 24 | — | 7.6% |
资本支出强度MACMASI
| Q4 25 | — | — | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 1.7% |
现金转化率MACMASI
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.35× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.61× | ||
| Q2 24 | 0.27× | 4.66× | ||
| Q1 24 | — | 2.42× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
