vs
MACERICH CO（MAC）与通用动力（PLOW）财务数据对比。点击上方公司名可切换其他公司
MACERICH CO的季度营收约是通用动力的1.4倍（$261.7M vs $184.5M），通用动力净利率更高（7.0% vs -7.2%，领先14.1%），通用动力同比增速更快（28.6% vs -4.4%），过去两年通用动力的营收复合增速更高（38.9% 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。
通用动力公司是总部位于美国弗吉尼亚州雷斯顿的工业与科技企业，核心业务是研发制造各类先进军用装备，产品包括核潜艇、主战坦克、装甲战车等，同时也生产民用湾流公务机，并提供信息技术服务，是美国联邦政府前五大国防承包商之一。
MAC vs PLOW — 直观对比
营收规模更大
MAC
是对方的1.4倍
$184.5M
营收增速更快
PLOW
高出32.9%
-4.4%
净利率更高
PLOW
高出14.1%
-7.2%
两年增速更快
PLOW
近两年复合增速
12.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $261.7M | $184.5M |
| 净利润 | $-18.8M | $12.8M |
| 毛利率 | — | 26.1% |
| 营业利润率 | — | 10.5% |
| 净利率 | -7.2% | 7.0% |
| 营收同比 | -4.4% | 28.6% |
| 净利润同比 | 91.1% | 62.3% |
| 每股收益（稀释后） | $-0.08 | $0.54 |
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MACPLOW
| Q4 25 | $261.7M | $184.5M | ||
| Q3 25 | $253.3M | $162.1M | ||
| Q2 25 | $249.8M | $194.3M | ||
| Q1 25 | $249.2M | $115.1M | ||
| Q4 24 | $273.7M | $143.5M | ||
| Q3 24 | $220.2M | $129.4M | ||
| Q2 24 | $215.5M | $199.9M | ||
| Q1 24 | $208.8M | $95.7M |
净利润MACPLOW
| Q4 25 | $-18.8M | $12.8M | ||
| Q3 25 | $-87.4M | $8.0M | ||
| Q2 25 | $-40.9M | $26.0M | ||
| Q1 25 | $-50.1M | $148.0K | ||
| Q4 24 | $-211.2M | $7.9M | ||
| Q3 24 | $-108.2M | $32.3M | ||
| Q2 24 | $252.0M | $24.3M | ||
| Q1 24 | $-126.7M | $-8.4M |
毛利率MACPLOW
| Q4 25 | — | 26.1% | ||
| Q3 25 | — | 23.5% | ||
| Q2 25 | — | 31.0% | ||
| Q1 25 | — | 24.5% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | — | 23.9% | ||
| Q2 24 | — | 30.7% | ||
| Q1 24 | — | 19.8% |
营业利润率MACPLOW
| Q4 25 | — | 10.5% | ||
| Q3 25 | — | 8.7% | ||
| Q2 25 | — | 19.0% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | — | 35.4% | ||
| Q2 24 | — | 18.2% | ||
| Q1 24 | — | -6.7% |
净利率MACPLOW
| Q4 25 | -7.2% | 7.0% | ||
| Q3 25 | -34.5% | 4.9% | ||
| Q2 25 | -16.4% | 13.4% | ||
| Q1 25 | -20.1% | 0.1% | ||
| Q4 24 | -77.2% | 5.5% | ||
| Q3 24 | -49.1% | 24.9% | ||
| Q2 24 | 116.9% | 12.2% | ||
| Q1 24 | -60.7% | -8.7% |
每股收益（稀释后）MACPLOW
| Q4 25 | $-0.08 | $0.54 | ||
| Q3 25 | $-0.34 | $0.33 | ||
| Q2 25 | $-0.16 | $1.09 | ||
| Q1 25 | $-0.20 | $0.00 | ||
| Q4 24 | $-0.95 | $0.35 | ||
| Q3 24 | $-0.50 | $1.36 | ||
| Q2 24 | $1.16 | $1.02 | ||
| Q1 24 | $-0.59 | $-0.37 |
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 | — |
| 总债务越低越好 | $5.1B | $144.0M |
| 股东权益账面价值 | $2.4B | $281.4M |
| 总资产 | $8.4B | $626.7M |
| 负债/权益比越低杠杆越低 | 2.07× | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资MACPLOW
| Q4 25 | $280.2M | — | ||
| Q3 25 | $290.2M | — | ||
| Q2 25 | $131.1M | — | ||
| Q1 25 | $253.2M | — | ||
| Q4 24 | $89.9M | — | ||
| Q3 24 | $116.5M | — | ||
| Q2 24 | $70.7M | — | ||
| Q1 24 | $120.1M | — |
总债务MACPLOW
| Q4 25 | $5.1B | $144.0M | ||
| Q3 25 | $5.1B | — | ||
| Q2 25 | $5.2B | — | ||
| Q1 25 | $5.2B | — | ||
| Q4 24 | $4.9B | $147.5M | ||
| Q3 24 | $4.3B | — | ||
| Q2 24 | $4.4B | — | ||
| Q1 24 | $4.1B | — |
股东权益MACPLOW
| Q4 25 | $2.4B | $281.4M | ||
| Q3 25 | $2.5B | $275.3M | ||
| Q2 25 | $2.6B | $273.3M | ||
| Q1 25 | $2.7B | $258.9M | ||
| Q4 24 | $2.8B | $264.2M | ||
| Q3 24 | $2.5B | $260.8M | ||
| Q2 24 | $2.5B | $236.7M | ||
| Q1 24 | $2.3B | $217.2M |
总资产MACPLOW
| Q4 25 | $8.4B | $626.7M | ||
| Q3 25 | $8.4B | $694.9M | ||
| Q2 25 | $8.7B | $671.5M | ||
| Q1 25 | $8.7B | $621.0M | ||
| Q4 24 | $8.6B | $590.0M | ||
| Q3 24 | $7.6B | $665.6M | ||
| Q2 24 | $7.8B | $617.0M | ||
| Q1 24 | $7.4B | $577.1M |
负债/权益比MACPLOW
| Q4 25 | 2.07× | 0.51× | ||
| Q3 25 | 2.02× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 1.96× | — | ||
| Q4 24 | 1.78× | 0.56× | ||
| Q3 24 | 1.73× | — | ||
| Q2 24 | 1.75× | — | ||
| Q1 24 | 1.79× | — |
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 | $95.9M |
| 自由现金流经营现金流 - 资本支出 | — | $92.8M |
| 自由现金流率自由现金流/营收 | — | 50.3% |
| 资本支出强度资本支出/营收 | — | 1.7% |
| 现金转化率经营现金流/净利润 | — | 7.47× |
| 过去12个月自由现金流最近4个季度 | — | $63.6M |
8季度趋势，按日历期对齐
经营现金流MACPLOW
| Q4 25 | $50.2M | $95.9M | ||
| Q3 25 | $112.4M | $-8.5M | ||
| Q2 25 | $70.5M | $-11.4M | ||
| Q1 25 | $88.5M | $-1.3M | ||
| Q4 24 | $54.9M | $74.4M | ||
| Q3 24 | $100.0M | $-14.2M | ||
| Q2 24 | $67.4M | $2.5M | ||
| Q1 24 | $61.1M | $-21.6M |
自由现金流MACPLOW
| Q4 25 | — | $92.8M | ||
| Q3 25 | — | $-11.4M | ||
| Q2 25 | — | $-14.3M | ||
| Q1 25 | — | $-3.5M | ||
| Q4 24 | — | $70.2M | ||
| Q3 24 | — | $-15.2M | ||
| Q2 24 | — | $836.0K | ||
| Q1 24 | — | $-22.4M |
自由现金流率MACPLOW
| Q4 25 | — | 50.3% | ||
| Q3 25 | — | -7.1% | ||
| Q2 25 | — | -7.4% | ||
| Q1 25 | — | -3.0% | ||
| Q4 24 | — | 48.9% | ||
| Q3 24 | — | -11.8% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | -23.4% |
资本支出强度MACPLOW
| Q4 25 | — | 1.7% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 0.8% |
现金转化率MACPLOW
| Q4 25 | — | 7.47× | ||
| Q3 25 | — | -1.07× | ||
| Q2 25 | — | -0.44× | ||
| Q1 25 | — | -9.03× | ||
| Q4 24 | — | 9.41× | ||
| Q3 24 | — | -0.44× | ||
| Q2 24 | 0.27× | 0.10× | ||
| 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
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
