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MACERICH CO（MAC）与Ribbon Communications Inc.（RBBN）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Ribbon Communications Inc.的1.6倍（$261.7M vs $162.6M），Ribbon Communications Inc.净利率更高（54.8% vs -7.2%，领先61.9%），MACERICH CO同比增速更快（-4.4% vs -10.3%），过去两年MACERICH CO的营收复合增速更高（12.0% vs -8.1%）
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。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
MAC vs RBBN — 直观对比
营收规模更大
MAC
是对方的1.6倍
$162.6M
营收增速更快
MAC
高出5.9%
-10.3%
净利率更高
RBBN
高出61.9%
-7.2%
两年增速更快
MAC
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $261.7M | $162.6M |
| 净利润 | $-18.8M | $89.1M |
| 毛利率 | — | 42.9% |
| 营业利润率 | — | — |
| 净利率 | -7.2% | 54.8% |
| 营收同比 | -4.4% | -10.3% |
| 净利润同比 | 91.1% | — |
| 每股收益（稀释后） | $-0.08 | $0.50 |
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MACRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $261.7M | $227.3M | ||
| Q3 25 | $253.3M | $215.4M | ||
| Q2 25 | $249.8M | $220.6M | ||
| Q1 25 | $249.2M | $181.3M | ||
| Q4 24 | $273.7M | $251.4M | ||
| Q3 24 | $220.2M | $210.2M | ||
| Q2 24 | $215.5M | $192.6M |
净利润MACRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $-18.8M | — | ||
| Q3 25 | $-87.4M | $-12.1M | ||
| Q2 25 | $-40.9M | $-11.1M | ||
| Q1 25 | $-50.1M | $-26.2M | ||
| Q4 24 | $-211.2M | — | ||
| Q3 24 | $-108.2M | $-13.4M | ||
| Q2 24 | $252.0M | $-16.8M |
毛利率MACRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | — | 53.3% | ||
| Q3 25 | — | 50.1% | ||
| Q2 25 | — | 49.6% | ||
| Q1 25 | — | 45.4% | ||
| Q4 24 | — | 55.7% | ||
| Q3 24 | — | 52.1% | ||
| Q2 24 | — | 50.8% |
营业利润率MACRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | -10.8% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | — | -0.4% | ||
| Q2 24 | — | -1.0% |
净利率MACRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | -7.2% | — | ||
| Q3 25 | -34.5% | -5.6% | ||
| Q2 25 | -16.4% | -5.0% | ||
| Q1 25 | -20.1% | -14.5% | ||
| Q4 24 | -77.2% | — | ||
| Q3 24 | -49.1% | -6.4% | ||
| Q2 24 | 116.9% | -8.7% |
每股收益（稀释后）MACRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $-0.08 | $0.50 | ||
| Q3 25 | $-0.34 | $-0.07 | ||
| Q2 25 | $-0.16 | $-0.06 | ||
| Q1 25 | $-0.20 | $-0.15 | ||
| Q4 24 | $-0.95 | $0.05 | ||
| Q3 24 | $-0.50 | $-0.08 | ||
| Q2 24 | $1.16 | $-0.10 |
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 | $280.2M | $67.6M |
| 总债务越低越好 | $5.1B | — |
| 股东权益账面价值 | $2.4B | $419.1M |
| 总资产 | $8.4B | — |
| 负债/权益比越低杠杆越低 | 2.07× | — |
8季度趋势，按日历期对齐
现金及短期投资MACRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $280.2M | $96.4M | ||
| Q3 25 | $290.2M | $74.8M | ||
| Q2 25 | $131.1M | $60.5M | ||
| Q1 25 | $253.2M | $71.2M | ||
| Q4 24 | $89.9M | $87.8M | ||
| Q3 24 | $116.5M | $37.2M | ||
| Q2 24 | $70.7M | $64.6M |
总债务MACRBBN
| Q1 26 | — | — | ||
| Q4 25 | $5.1B | $342.1M | ||
| Q3 25 | $5.1B | $344.3M | ||
| Q2 25 | $5.2B | $346.5M | ||
| Q1 25 | $5.2B | $347.4M | ||
| Q4 24 | $4.9B | $348.3M | ||
| Q3 24 | $4.3B | $349.1M | ||
| Q2 24 | $4.4B | $350.0M |
股东权益MACRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $2.4B | $449.0M | ||
| Q3 25 | $2.5B | $360.1M | ||
| Q2 25 | $2.6B | $370.4M | ||
| Q1 25 | $2.7B | $381.8M | ||
| Q4 24 | $2.8B | $404.6M | ||
| Q3 24 | $2.5B | $395.5M | ||
| Q2 24 | $2.5B | $405.0M |
总资产MACRBBN
| Q1 26 | — | — | ||
| Q4 25 | $8.4B | $1.2B | ||
| Q3 25 | $8.4B | $1.1B | ||
| Q2 25 | $8.7B | $1.1B | ||
| Q1 25 | $8.7B | $1.1B | ||
| Q4 24 | $8.6B | $1.2B | ||
| Q3 24 | $7.6B | $1.1B | ||
| Q2 24 | $7.8B | $1.1B |
负债/权益比MACRBBN
| Q1 26 | — | — | ||
| Q4 25 | 2.07× | 0.76× | ||
| Q3 25 | 2.02× | 0.96× | ||
| Q2 25 | 2.02× | 0.94× | ||
| Q1 25 | 1.96× | 0.91× | ||
| Q4 24 | 1.78× | 0.86× | ||
| Q3 24 | 1.73× | 0.88× | ||
| Q2 24 | 1.75× | 0.86× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流MACRBBN
| Q1 26 | — | — | ||
| Q4 25 | $50.2M | $29.2M | ||
| Q3 25 | $112.4M | $26.5M | ||
| Q2 25 | $70.5M | $-795.0K | ||
| Q1 25 | $88.5M | $-3.5M | ||
| Q4 24 | $54.9M | $61.8M | ||
| Q3 24 | $100.0M | $-14.8M | ||
| Q2 24 | $67.4M | $-9.8M |
自由现金流MACRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | $27.3M | ||
| Q3 25 | — | $21.0M | ||
| Q2 25 | — | $-6.5M | ||
| Q1 25 | — | $-15.7M | ||
| Q4 24 | — | $53.8M | ||
| Q3 24 | — | $-23.7M | ||
| Q2 24 | — | $-12.9M |
自由现金流率MACRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | — | -2.9% | ||
| Q1 25 | — | -8.7% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | -11.3% | ||
| Q2 24 | — | -6.7% |
资本支出强度MACRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 6.7% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 4.2% | ||
| Q2 24 | — | 1.6% |
现金转化率MACRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.27× | — |
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
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
