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MACERICH CO（MAC）与RAYONIER ADVANCED MATERIALS INC.（RYAM）财务数据对比。点击上方公司名可切换其他公司
RAYONIER ADVANCED MATERIALS INC.的季度营收约是MACERICH CO的1.6倍（$417.5M vs $261.7M），RAYONIER ADVANCED MATERIALS INC.净利率更高（-5.0% vs -7.2%，领先2.1%），RAYONIER ADVANCED MATERIALS INC.同比增速更快（-1.2% vs -4.4%），过去两年MACERICH CO的营收复合增速更高（12.0% vs 3.8%）
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。
RYAM（原雷尼尔先进材料公司）是一家美国全球性纤维素技术企业，主打高纯度特种纤维素产品，所生产的天然聚合物广泛应用于过滤器生产、食品加工、医药制造及各类工业领域，同时也为造纸和包装行业供应相关产品，在纤维素技术领域拥有较高的行业认可度。
MAC vs RYAM — 直观对比
营收规模更大
RYAM
是对方的1.6倍
$261.7M
营收增速更快
RYAM
高出3.2%
-4.4%
净利率更高
RYAM
高出2.1%
-7.2%
两年增速更快
MAC
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $261.7M | $417.5M |
| 净利润 | $-18.8M | $-21.1M |
| 毛利率 | — | 8.9% |
| 营业利润率 | — | 2.6% |
| 净利率 | -7.2% | -5.0% |
| 营收同比 | -4.4% | -1.2% |
| 净利润同比 | 91.1% | -31.9% |
| 每股收益（稀释后） | $-0.08 | $-0.33 |
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MACRYAM
| Q4 25 | $261.7M | $417.5M | ||
| Q3 25 | $253.3M | $352.8M | ||
| Q2 25 | $249.8M | $340.0M | ||
| Q1 25 | $249.2M | $356.0M | ||
| Q4 24 | $273.7M | $422.5M | ||
| Q3 24 | $220.2M | $401.1M | ||
| Q2 24 | $215.5M | $419.0M | ||
| Q1 24 | $208.8M | $387.7M |
净利润MACRYAM
| Q4 25 | $-18.8M | $-21.1M | ||
| Q3 25 | $-87.4M | $-4.5M | ||
| Q2 25 | $-40.9M | $-363.2M | ||
| Q1 25 | $-50.1M | $-32.0M | ||
| Q4 24 | $-211.2M | $-16.0M | ||
| Q3 24 | $-108.2M | $-32.6M | ||
| Q2 24 | $252.0M | $11.4M | ||
| Q1 24 | $-126.7M | $-1.6M |
毛利率MACRYAM
| Q4 25 | — | 8.9% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | — | 7.0% | ||
| Q1 25 | — | 6.8% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | — | 10.9% | ||
| Q2 24 | — | 11.5% | ||
| Q1 24 | — | 9.5% |
营业利润率MACRYAM
| Q4 25 | — | 2.6% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | — | -0.4% | ||
| Q1 25 | — | -4.2% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | -4.2% | ||
| Q2 24 | — | 6.7% | ||
| Q1 24 | — | 4.4% |
净利率MACRYAM
| Q4 25 | -7.2% | -5.0% | ||
| Q3 25 | -34.5% | -1.3% | ||
| Q2 25 | -16.4% | -106.8% | ||
| Q1 25 | -20.1% | -9.0% | ||
| Q4 24 | -77.2% | -3.8% | ||
| Q3 24 | -49.1% | -8.1% | ||
| Q2 24 | 116.9% | 2.7% | ||
| Q1 24 | -60.7% | -0.4% |
每股收益（稀释后）MACRYAM
| Q4 25 | $-0.08 | $-0.33 | ||
| Q3 25 | $-0.34 | $-0.07 | ||
| Q2 25 | $-0.16 | $-5.44 | ||
| Q1 25 | $-0.20 | $-0.49 | ||
| Q4 24 | $-0.95 | $-0.25 | ||
| Q3 24 | $-0.50 | $-0.49 | ||
| Q2 24 | $1.16 | $0.17 | ||
| Q1 24 | $-0.59 | $-0.02 |
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 | $75.4M |
| 总债务越低越好 | $5.1B | $758.1M |
| 股东权益账面价值 | $2.4B | $316.6M |
| 总资产 | $8.4B | $1.8B |
| 负债/权益比越低杠杆越低 | 2.07× | 2.39× |
8季度趋势，按日历期对齐
现金及短期投资MACRYAM
| Q4 25 | $280.2M | $75.4M | ||
| Q3 25 | $290.2M | $77.0M | ||
| Q2 25 | $131.1M | $70.7M | ||
| Q1 25 | $253.2M | $129.9M | ||
| Q4 24 | $89.9M | $125.2M | ||
| Q3 24 | $116.5M | $136.1M | ||
| Q2 24 | $70.7M | $114.1M | ||
| Q1 24 | $120.1M | $54.6M |
总债务MACRYAM
| Q4 25 | $5.1B | $758.1M | ||
| Q3 25 | $5.1B | $763.5M | ||
| Q2 25 | $5.2B | $720.4M | ||
| Q1 25 | $5.2B | $707.0M | ||
| Q4 24 | $4.9B | $706.4M | ||
| Q3 24 | $4.3B | $747.7M | ||
| Q2 24 | $4.4B | $752.8M | ||
| Q1 24 | $4.1B | $755.6M |
股东权益MACRYAM
| Q4 25 | $2.4B | $316.6M | ||
| Q3 25 | $2.5B | $338.2M | ||
| Q2 25 | $2.6B | $342.3M | ||
| Q1 25 | $2.7B | $688.1M | ||
| Q4 24 | $2.8B | $713.9M | ||
| Q3 24 | $2.5B | $732.7M | ||
| Q2 24 | $2.5B | $755.1M | ||
| Q1 24 | $2.3B | $741.8M |
总资产MACRYAM
| Q4 25 | $8.4B | $1.8B | ||
| Q3 25 | $8.4B | $1.8B | ||
| Q2 25 | $8.7B | $1.8B | ||
| Q1 25 | $8.7B | $2.1B | ||
| Q4 24 | $8.6B | $2.1B | ||
| Q3 24 | $7.6B | $2.2B | ||
| Q2 24 | $7.8B | $2.2B | ||
| Q1 24 | $7.4B | $2.1B |
负债/权益比MACRYAM
| Q4 25 | 2.07× | 2.39× | ||
| Q3 25 | 2.02× | 2.26× | ||
| Q2 25 | 2.02× | 2.10× | ||
| Q1 25 | 1.96× | 1.03× | ||
| Q4 24 | 1.78× | 0.99× | ||
| Q3 24 | 1.73× | 1.02× | ||
| Q2 24 | 1.75× | 1.00× | ||
| Q1 24 | 1.79× | 1.02× |
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 | $32.3M |
| 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MACRYAM
| Q4 25 | $50.2M | $32.3M | ||
| Q3 25 | $112.4M | $-17.8M | ||
| Q2 25 | $70.5M | $-30.2M | ||
| Q1 25 | $88.5M | $39.6M | ||
| Q4 24 | $54.9M | $54.9M | ||
| Q3 24 | $100.0M | $49.8M | ||
| Q2 24 | $67.4M | $87.6M | ||
| Q1 24 | $61.1M | $11.3M |
现金转化率MACRYAM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.27× | 7.69× | ||
| 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
RYAM
| Cellulose Specialties | $249.6M | 60% |
| Other | $86.2M | 21% |
| Paperboard | $44.2M | 11% |
| High Yield Pulp | $28.3M | 7% |
| Biomaterials | $9.2M | 2% |
