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MACERICH CO（MAC）与Tarsus Pharmaceuticals, Inc.（TARS）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Tarsus Pharmaceuticals, Inc.的1.7倍（$261.7M vs $151.7M），Tarsus Pharmaceuticals, Inc.净利率更高（-5.5% vs -7.2%，领先1.6%），Tarsus Pharmaceuticals, Inc.同比增速更快（128.4% vs -4.4%），过去两年Tarsus Pharmaceuticals, Inc.的营收复合增速更高（134.4% 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。
Tarsus Pharmaceuticals是一家处于后期临床阶段的生物制药公司，专注于眼科、皮肤科等专科领域创新疗法的研发和商业化，主打产品针对蠕形螨睑缘炎、玫瑰痤疮等未被充分诊断的常见病症，核心市场为美国。
MAC vs TARS — 直观对比
营收规模更大
MAC
是对方的1.7倍
$151.7M
营收增速更快
TARS
高出132.8%
-4.4%
净利率更高
TARS
高出1.6%
-7.2%
两年增速更快
TARS
近两年复合增速
12.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $261.7M | $151.7M |
| 净利润 | $-18.8M | $-8.4M |
| 毛利率 | — | — |
| 营业利润率 | — | -5.3% |
| 净利率 | -7.2% | -5.5% |
| 营收同比 | -4.4% | 128.4% |
| 净利润同比 | 91.1% | 63.8% |
| 每股收益（稀释后） | $-0.08 | $-0.17 |
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MACTARS
| Q4 25 | $261.7M | $151.7M | ||
| Q3 25 | $253.3M | $118.7M | ||
| Q2 25 | $249.8M | $102.7M | ||
| Q1 25 | $249.2M | $78.3M | ||
| Q4 24 | $273.7M | $66.4M | ||
| Q3 24 | $220.2M | $48.1M | ||
| Q2 24 | $215.5M | $40.8M | ||
| Q1 24 | $208.8M | $27.6M |
净利润MACTARS
| Q4 25 | $-18.8M | $-8.4M | ||
| Q3 25 | $-87.4M | $-12.6M | ||
| Q2 25 | $-40.9M | $-20.3M | ||
| Q1 25 | $-50.1M | $-25.1M | ||
| Q4 24 | $-211.2M | $-23.1M | ||
| Q3 24 | $-108.2M | $-23.4M | ||
| Q2 24 | $252.0M | $-33.3M | ||
| Q1 24 | $-126.7M | $-35.7M |
营业利润率MACTARS
| Q4 25 | — | -5.3% | ||
| Q3 25 | — | -12.2% | ||
| Q2 25 | — | -21.6% | ||
| Q1 25 | — | -33.5% | ||
| Q4 24 | — | -36.8% | ||
| Q3 24 | — | -52.3% | ||
| Q2 24 | — | -81.6% | ||
| Q1 24 | — | -136.5% |
净利率MACTARS
| Q4 25 | -7.2% | -5.5% | ||
| Q3 25 | -34.5% | -10.6% | ||
| Q2 25 | -16.4% | -19.8% | ||
| Q1 25 | -20.1% | -32.1% | ||
| Q4 24 | -77.2% | -34.8% | ||
| Q3 24 | -49.1% | -48.7% | ||
| Q2 24 | 116.9% | -81.6% | ||
| Q1 24 | -60.7% | -129.4% |
每股收益（稀释后）MACTARS
| Q4 25 | $-0.08 | $-0.17 | ||
| Q3 25 | $-0.34 | $-0.30 | ||
| Q2 25 | $-0.16 | $-0.48 | ||
| Q1 25 | $-0.20 | $-0.64 | ||
| Q4 24 | $-0.95 | $-0.57 | ||
| Q3 24 | $-0.50 | $-0.61 | ||
| Q2 24 | $1.16 | $-0.88 | ||
| Q1 24 | $-0.59 | $-1.01 |
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 | $417.3M |
| 总债务越低越好 | $5.1B | $72.4M |
| 股东权益账面价值 | $2.4B | $343.4M |
| 总资产 | $8.4B | $562.2M |
| 负债/权益比越低杠杆越低 | 2.07× | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资MACTARS
| Q4 25 | $280.2M | $417.3M | ||
| Q3 25 | $290.2M | $401.8M | ||
| Q2 25 | $131.1M | $381.1M | ||
| Q1 25 | $253.2M | $407.9M | ||
| Q4 24 | $89.9M | $291.4M | ||
| Q3 24 | $116.5M | $317.0M | ||
| Q2 24 | $70.7M | $323.6M | ||
| Q1 24 | $120.1M | $298.5M |
总债务MACTARS
| Q4 25 | $5.1B | $72.4M | ||
| Q3 25 | $5.1B | $72.3M | ||
| Q2 25 | $5.2B | $72.1M | ||
| Q1 25 | $5.2B | $72.0M | ||
| Q4 24 | $4.9B | $71.8M | ||
| Q3 24 | $4.3B | $71.7M | ||
| Q2 24 | $4.4B | $71.6M | ||
| Q1 24 | $4.1B | $29.9M |
股东权益MACTARS
| Q4 25 | $2.4B | $343.4M | ||
| Q3 25 | $2.5B | $335.1M | ||
| Q2 25 | $2.6B | $332.6M | ||
| Q1 25 | $2.7B | $342.5M | ||
| Q4 24 | $2.8B | $224.5M | ||
| Q3 24 | $2.5B | $237.5M | ||
| Q2 24 | $2.5B | $252.2M | ||
| Q1 24 | $2.3B | $275.2M |
总资产MACTARS
| Q4 25 | $8.4B | $562.2M | ||
| Q3 25 | $8.4B | $534.6M | ||
| Q2 25 | $8.7B | $495.0M | ||
| Q1 25 | $8.7B | $500.8M | ||
| Q4 24 | $8.6B | $377.0M | ||
| Q3 24 | $7.6B | $376.3M | ||
| Q2 24 | $7.8B | $376.8M | ||
| Q1 24 | $7.4B | $349.3M |
负债/权益比MACTARS
| Q4 25 | 2.07× | 0.21× | ||
| Q3 25 | 2.02× | 0.22× | ||
| Q2 25 | 2.02× | 0.22× | ||
| Q1 25 | 1.96× | 0.21× | ||
| Q4 24 | 1.78× | 0.32× | ||
| Q3 24 | 1.73× | 0.30× | ||
| Q2 24 | 1.75× | 0.28× | ||
| Q1 24 | 1.79× | 0.11× |
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 | $19.3M |
| 自由现金流经营现金流 - 资本支出 | — | $13.0M |
| 自由现金流率自由现金流/营收 | — | 8.6% |
| 资本支出强度资本支出/营收 | — | 4.2% |
| 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 | — | $-22.3M |
8季度趋势，按日历期对齐
经营现金流MACTARS
| Q4 25 | $50.2M | $19.3M | ||
| Q3 25 | $112.4M | $18.3M | ||
| Q2 25 | $70.5M | $-29.4M | ||
| Q1 25 | $88.5M | $-20.7M | ||
| Q4 24 | $54.9M | $-22.2M | ||
| Q3 24 | $100.0M | $-8.7M | ||
| Q2 24 | $67.4M | $-14.4M | ||
| Q1 24 | $61.1M | $-37.8M |
自由现金流MACTARS
| Q4 25 | — | $13.0M | ||
| Q3 25 | — | $16.3M | ||
| Q2 25 | — | $-30.4M | ||
| Q1 25 | — | $-21.2M | ||
| Q4 24 | — | $-22.3M | ||
| Q3 24 | — | $-8.9M | ||
| Q2 24 | — | $-15.4M | ||
| Q1 24 | — | $-38.0M |
自由现金流率MACTARS
| Q4 25 | — | 8.6% | ||
| Q3 25 | — | 13.8% | ||
| Q2 25 | — | -29.6% | ||
| Q1 25 | — | -27.1% | ||
| Q4 24 | — | -33.5% | ||
| Q3 24 | — | -18.6% | ||
| Q2 24 | — | -37.8% | ||
| Q1 24 | — | -137.5% |
资本支出强度MACTARS
| Q4 25 | — | 4.2% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 2.5% | ||
| Q1 24 | — | 0.6% |
现金转化率MACTARS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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
