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MACERICH CO（MAC）与Tecnoglass Inc.（TGLS）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Tecnoglass Inc.的1.1倍（$261.7M vs $245.3M），Tecnoglass Inc.净利率更高（10.6% vs -7.2%，领先17.8%），Tecnoglass Inc.同比增速更快（2.4% vs -4.4%），过去两年Tecnoglass Inc.的营收复合增速更高（12.8% 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。
Tecnoglass Inc.是一家领先的建筑玻璃、铝制门窗及相关建材生产商，主要服务北美及拉美地区的住宅和商业建筑领域，为新建及翻新项目提供定制化、高能效的建筑解决方案。
MAC vs TGLS — 直观对比
营收规模更大
MAC
是对方的1.1倍
$245.3M
营收增速更快
TGLS
高出6.8%
-4.4%
净利率更高
TGLS
高出17.8%
-7.2%
两年增速更快
TGLS
近两年复合增速
12.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $261.7M | $245.3M |
| 净利润 | $-18.8M | $26.1M |
| 毛利率 | — | 40.0% |
| 营业利润率 | — | 18.3% |
| 净利率 | -7.2% | 10.6% |
| 营收同比 | -4.4% | 2.4% |
| 净利润同比 | 91.1% | -44.5% |
| 每股收益（稀释后） | $-0.08 | $0.57 |
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MACTGLS
| Q4 25 | $261.7M | $245.3M | ||
| Q3 25 | $253.3M | $260.5M | ||
| Q2 25 | $249.8M | $255.5M | ||
| Q1 25 | $249.2M | $222.3M | ||
| Q4 24 | $273.7M | $239.6M | ||
| Q3 24 | $220.2M | $238.3M | ||
| Q2 24 | $215.5M | $219.7M | ||
| Q1 24 | $208.8M | $192.6M |
净利润MACTGLS
| Q4 25 | $-18.8M | $26.1M | ||
| Q3 25 | $-87.4M | $47.2M | ||
| Q2 25 | $-40.9M | $44.1M | ||
| Q1 25 | $-50.1M | $42.2M | ||
| Q4 24 | $-211.2M | $47.0M | ||
| Q3 24 | $-108.2M | $49.5M | ||
| Q2 24 | $252.0M | $35.0M | ||
| Q1 24 | $-126.7M | $29.7M |
毛利率MACTGLS
| Q4 25 | — | 40.0% | ||
| Q3 25 | — | 42.7% | ||
| Q2 25 | — | 44.7% | ||
| Q1 25 | — | 43.9% | ||
| Q4 24 | — | 44.5% | ||
| Q3 24 | — | 45.8% | ||
| Q2 24 | — | 40.8% | ||
| Q1 24 | — | 38.8% |
营业利润率MACTGLS
| Q4 25 | — | 18.3% | ||
| Q3 25 | — | 25.1% | ||
| Q2 25 | — | 24.0% | ||
| Q1 25 | — | 26.7% | ||
| Q4 24 | — | 28.0% | ||
| Q3 24 | — | 28.4% | ||
| Q2 24 | — | 23.3% | ||
| Q1 24 | — | 21.3% |
净利率MACTGLS
| Q4 25 | -7.2% | 10.6% | ||
| Q3 25 | -34.5% | 18.1% | ||
| Q2 25 | -16.4% | 17.3% | ||
| Q1 25 | -20.1% | 19.0% | ||
| Q4 24 | -77.2% | 19.6% | ||
| Q3 24 | -49.1% | 20.8% | ||
| Q2 24 | 116.9% | 15.9% | ||
| Q1 24 | -60.7% | 15.4% |
每股收益（稀释后）MACTGLS
| Q4 25 | $-0.08 | $0.57 | ||
| Q3 25 | $-0.34 | $1.01 | ||
| Q2 25 | $-0.16 | $0.94 | ||
| Q1 25 | $-0.20 | $0.90 | ||
| Q4 24 | $-0.95 | $1.00 | ||
| Q3 24 | $-0.50 | $1.05 | ||
| Q2 24 | $1.16 | $0.75 | ||
| Q1 24 | $-0.59 | $0.63 |
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 | $104.1M |
| 总债务越低越好 | $5.1B | $174.4M |
| 股东权益账面价值 | $2.4B | $713.1M |
| 总资产 | $8.4B | $1.3B |
| 负债/权益比越低杠杆越低 | 2.07× | 0.24× |
8季度趋势，按日历期对齐
现金及短期投资MACTGLS
| Q4 25 | $280.2M | $104.1M | ||
| Q3 25 | $290.2M | $127.1M | ||
| Q2 25 | $131.1M | $140.9M | ||
| Q1 25 | $253.2M | $160.2M | ||
| Q4 24 | $89.9M | $137.5M | ||
| Q3 24 | $116.5M | $124.8M | ||
| Q2 24 | $70.7M | $129.5M | ||
| Q1 24 | $120.1M | $138.8M |
总债务MACTGLS
| Q4 25 | $5.1B | $174.4M | ||
| Q3 25 | $5.1B | $114.7M | ||
| Q2 25 | $5.2B | $110.6M | ||
| Q1 25 | $5.2B | $110.6M | ||
| Q4 24 | $4.9B | $111.1M | ||
| Q3 24 | $4.3B | $126.8M | ||
| Q2 24 | $4.4B | $144.7M | ||
| Q1 24 | $4.1B | $160.9M |
股东权益MACTGLS
| Q4 25 | $2.4B | $713.1M | ||
| Q3 25 | $2.5B | $764.0M | ||
| Q2 25 | $2.6B | $736.0M | ||
| Q1 25 | $2.7B | $685.1M | ||
| Q4 24 | $2.8B | $631.2M | ||
| Q3 24 | $2.5B | $613.3M | ||
| Q2 24 | $2.5B | $574.8M | ||
| Q1 24 | $2.3B | $573.6M |
总资产MACTGLS
| Q4 25 | $8.4B | $1.3B | ||
| Q3 25 | $8.4B | $1.2B | ||
| Q2 25 | $8.7B | $1.2B | ||
| Q1 25 | $8.7B | $1.1B | ||
| Q4 24 | $8.6B | $1.0B | ||
| Q3 24 | $7.6B | $996.3M | ||
| Q2 24 | $7.8B | $942.5M | ||
| Q1 24 | $7.4B | $981.6M |
负债/权益比MACTGLS
| Q4 25 | 2.07× | 0.24× | ||
| Q3 25 | 2.02× | 0.15× | ||
| Q2 25 | 2.02× | 0.15× | ||
| Q1 25 | 1.96× | 0.16× | ||
| Q4 24 | 1.78× | 0.18× | ||
| Q3 24 | 1.73× | 0.21× | ||
| Q2 24 | 1.75× | 0.25× | ||
| Q1 24 | 1.79× | 0.28× |
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 | $31.0M |
| 自由现金流经营现金流 - 资本支出 | — | $11.4M |
| 自由现金流率自由现金流/营收 | — | 4.7% |
| 资本支出强度资本支出/营收 | — | 8.0% |
| 现金转化率经营现金流/净利润 | — | 1.19× |
| 过去12个月自由现金流最近4个季度 | — | $34.5M |
8季度趋势，按日历期对齐
经营现金流MACTGLS
| Q4 25 | $50.2M | $31.0M | ||
| Q3 25 | $112.4M | $40.0M | ||
| Q2 25 | $70.5M | $17.9M | ||
| Q1 25 | $88.5M | $46.9M | ||
| Q4 24 | $54.9M | $61.1M | ||
| Q3 24 | $100.0M | $41.5M | ||
| Q2 24 | $67.4M | $34.5M | ||
| Q1 24 | $61.1M | $33.4M |
自由现金流MACTGLS
| Q4 25 | — | $11.4M | ||
| Q3 25 | — | $21.2M | ||
| Q2 25 | — | $-14.7M | ||
| Q1 25 | — | $16.5M | ||
| Q4 24 | — | $35.4M | ||
| Q3 24 | — | $17.8M | ||
| Q2 24 | — | $14.2M | ||
| Q1 24 | — | $23.6M |
自由现金流率MACTGLS
| Q4 25 | — | 4.7% | ||
| Q3 25 | — | 8.2% | ||
| Q2 25 | — | -5.7% | ||
| Q1 25 | — | 7.4% | ||
| Q4 24 | — | 14.8% | ||
| Q3 24 | — | 7.5% | ||
| Q2 24 | — | 6.5% | ||
| Q1 24 | — | 12.2% |
资本支出强度MACTGLS
| Q4 25 | — | 8.0% | ||
| Q3 25 | — | 7.2% | ||
| Q2 25 | — | 12.7% | ||
| Q1 25 | — | 13.7% | ||
| Q4 24 | — | 10.7% | ||
| Q3 24 | — | 9.9% | ||
| Q2 24 | — | 9.2% | ||
| Q1 24 | — | 5.1% |
现金转化率MACTGLS
| Q4 25 | — | 1.19× | ||
| Q3 25 | — | 0.85× | ||
| Q2 25 | — | 0.41× | ||
| Q1 25 | — | 1.11× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | 0.27× | 0.98× | ||
| Q1 24 | — | 1.13× |
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
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
