vs
MACERICH CO（MAC）与MARCUS CORP（MCS）财务数据对比。点击上方公司名可切换其他公司
MACERICH CO的季度营收约是MARCUS CORP的1.4倍（$261.7M vs $193.5M），MARCUS CORP同比增速更快（2.8% vs -4.4%），过去两年MARCUS CORP的营收复合增速更高（18.2% vs 12.0%）
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。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
MAC vs MCS — 直观对比
营收规模更大
MAC
是对方的1.4倍
$193.5M
营收增速更快
MCS
高出7.1%
-4.4%
两年增速更快
MCS
近两年复合增速
12.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $261.7M | $193.5M |
| 净利润 | $-18.8M | — |
| 毛利率 | — | — |
| 营业利润率 | — | 0.9% |
| 净利率 | -7.2% | — |
| 营收同比 | -4.4% | 2.8% |
| 净利润同比 | 91.1% | — |
| 每股收益（稀释后） | $-0.08 | — |
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MACMCS
| Q4 25 | $261.7M | $193.5M | ||
| Q3 25 | $253.3M | $210.2M | ||
| Q2 25 | $249.8M | $206.0M | ||
| Q1 25 | $249.2M | $148.8M | ||
| Q4 24 | $273.7M | $188.3M | ||
| Q3 24 | $220.2M | $232.7M | ||
| Q2 24 | $215.5M | $176.0M | ||
| Q1 24 | $208.8M | $138.5M |
净利润MACMCS
| Q4 25 | $-18.8M | — | ||
| Q3 25 | $-87.4M | $16.2M | ||
| Q2 25 | $-40.9M | $7.3M | ||
| Q1 25 | $-50.1M | $-16.8M | ||
| Q4 24 | $-211.2M | $986.0K | ||
| Q3 24 | $-108.2M | $23.3M | ||
| Q2 24 | $252.0M | $-20.2M | ||
| Q1 24 | $-126.7M | $-11.9M |
营业利润率MACMCS
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 10.8% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | -13.7% | ||
| Q4 24 | — | -1.2% | ||
| Q3 24 | — | 14.1% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | -12.0% |
净利率MACMCS
| Q4 25 | -7.2% | — | ||
| Q3 25 | -34.5% | 7.7% | ||
| Q2 25 | -16.4% | 3.6% | ||
| Q1 25 | -20.1% | -11.3% | ||
| Q4 24 | -77.2% | 0.5% | ||
| Q3 24 | -49.1% | 10.0% | ||
| Q2 24 | 116.9% | -11.5% | ||
| Q1 24 | -60.7% | -8.6% |
每股收益（稀释后）MACMCS
| Q4 25 | $-0.08 | — | ||
| Q3 25 | $-0.34 | — | ||
| Q2 25 | $-0.16 | — | ||
| Q1 25 | $-0.20 | — | ||
| Q4 24 | $-0.95 | — | ||
| Q3 24 | $-0.50 | — | ||
| Q2 24 | $1.16 | — | ||
| Q1 24 | $-0.59 | — |
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 | $23.4M |
| 总债务越低越好 | $5.1B | $159.0M |
| 股东权益账面价值 | $2.4B | $457.4M |
| 总资产 | $8.4B | $1.0B |
| 负债/权益比越低杠杆越低 | 2.07× | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资MACMCS
| Q4 25 | $280.2M | $23.4M | ||
| Q3 25 | $290.2M | $7.4M | ||
| Q2 25 | $131.1M | $14.9M | ||
| Q1 25 | $253.2M | $11.9M | ||
| Q4 24 | $89.9M | $40.8M | ||
| Q3 24 | $116.5M | $28.4M | ||
| Q2 24 | $70.7M | $32.8M | ||
| Q1 24 | $120.1M | $17.3M |
总债务MACMCS
| Q4 25 | $5.1B | $159.0M | ||
| Q3 25 | $5.1B | $162.0M | ||
| Q2 25 | $5.2B | $179.9M | ||
| Q1 25 | $5.2B | $198.9M | ||
| Q4 24 | $4.9B | $159.1M | ||
| Q3 24 | $4.3B | $173.1M | ||
| Q2 24 | $4.4B | $175.7M | ||
| Q1 24 | $4.1B | $169.8M |
股东权益MACMCS
| Q4 25 | $2.4B | $457.4M | ||
| Q3 25 | $2.5B | $454.3M | ||
| Q2 25 | $2.6B | $448.4M | ||
| Q1 25 | $2.7B | $441.8M | ||
| Q4 24 | $2.8B | $464.9M | ||
| Q3 24 | $2.5B | $462.3M | ||
| Q2 24 | $2.5B | $449.4M | ||
| Q1 24 | $2.3B | $459.3M |
总资产MACMCS
| Q4 25 | $8.4B | $1.0B | ||
| Q3 25 | $8.4B | $1.0B | ||
| Q2 25 | $8.7B | $1.0B | ||
| Q1 25 | $8.7B | $1.0B | ||
| Q4 24 | $8.6B | $1.0B | ||
| Q3 24 | $7.6B | $1.0B | ||
| Q2 24 | $7.8B | $1.1B | ||
| Q1 24 | $7.4B | $1.0B |
负债/权益比MACMCS
| Q4 25 | 2.07× | 0.35× | ||
| Q3 25 | 2.02× | 0.36× | ||
| Q2 25 | 2.02× | 0.40× | ||
| Q1 25 | 1.96× | 0.45× | ||
| Q4 24 | 1.78× | 0.34× | ||
| Q3 24 | 1.73× | 0.37× | ||
| Q2 24 | 1.75× | 0.39× | ||
| Q1 24 | 1.79× | 0.37× |
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 | $48.8M |
| 自由现金流经营现金流 - 资本支出 | — | $26.4M |
| 自由现金流率自由现金流/营收 | — | 13.6% |
| 资本支出强度资本支出/营收 | — | 11.6% |
| 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 | — | $989.0K |
8季度趋势，按日历期对齐
经营现金流MACMCS
| Q4 25 | $50.2M | $48.8M | ||
| Q3 25 | $112.4M | $39.1M | ||
| Q2 25 | $70.5M | $31.6M | ||
| Q1 25 | $88.5M | $-35.3M | ||
| Q4 24 | $54.9M | $52.6M | ||
| Q3 24 | $100.0M | $30.5M | ||
| Q2 24 | $67.4M | $36.0M | ||
| Q1 24 | $61.1M | $-15.1M |
自由现金流MACMCS
| Q4 25 | — | $26.4M | ||
| Q3 25 | — | $18.2M | ||
| Q2 25 | — | $14.7M | ||
| Q1 25 | — | $-58.3M | ||
| Q4 24 | — | $27.1M | ||
| Q3 24 | — | $12.0M | ||
| Q2 24 | — | $16.1M | ||
| Q1 24 | — | $-30.5M |
自由现金流率MACMCS
| Q4 25 | — | 13.6% | ||
| Q3 25 | — | 8.7% | ||
| Q2 25 | — | 7.1% | ||
| Q1 25 | — | -39.2% | ||
| Q4 24 | — | 14.4% | ||
| Q3 24 | — | 5.2% | ||
| Q2 24 | — | 9.2% | ||
| Q1 24 | — | -22.0% |
资本支出强度MACMCS
| Q4 25 | — | 11.6% | ||
| Q3 25 | — | 9.9% | ||
| Q2 25 | — | 8.2% | ||
| Q1 25 | — | 15.5% | ||
| Q4 24 | — | 13.5% | ||
| Q3 24 | — | 7.9% | ||
| Q2 24 | — | 11.3% | ||
| Q1 24 | — | 11.1% |
现金转化率MACMCS
| Q4 25 | — | — | ||
| Q3 25 | — | 2.41× | ||
| Q2 25 | — | 4.32× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 53.31× | ||
| Q3 24 | — | 1.31× | ||
| Q2 24 | 0.27× | — | ||
| Q1 24 | — | — |
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
MAC
暂无分部数据
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
