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MARA Holdings, Inc.（MARA）与ONESPAWORLD HOLDINGS Ltd（OSW）财务数据对比。点击上方公司名可切换其他公司
ONESPAWORLD HOLDINGS Ltd的季度营收约是MARA Holdings, Inc.的1.2倍（$242.1M vs $202.3M），ONESPAWORLD HOLDINGS Ltd净利率更高（5.0% vs -14298.3%，领先14303.3%），ONESPAWORLD HOLDINGS Ltd同比增速更快（11.5% vs -5.6%），ONESPAWORLD HOLDINGS Ltd自由现金流更多（$14.9M vs $-1.2B），过去两年MARA Holdings, Inc.的营收复合增速更高（10.7% vs 7.1%）
MARA Holdings, Inc.是一家美国数字资产技术及加密货币挖矿企业，总部位于佛罗里达州劳德代尔堡。公司成立于2010年，最初以专利控股公司的模式运营，2010年代后期转向专注于区块链基础设施与数字资产相关业务。
MARA vs OSW — 直观对比
营收规模更大
OSW
是对方的1.2倍
$202.3M
营收增速更快
OSW
高出17.1%
-5.6%
净利率更高
OSW
高出14303.3%
-14298.3%
自由现金流更多
OSW
多$1.2B
$-1.2B
两年增速更快
MARA
近两年复合增速
7.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $202.3M | $242.1M |
| 净利润 | $-1.7B | $12.1M |
| 毛利率 | — | — |
| 营业利润率 | -11795.9% | 6.8% |
| 净利率 | -14298.3% | 5.0% |
| 营收同比 | -5.6% | 11.5% |
| 净利润同比 | -423.5% | -16.2% |
| 每股收益（稀释后） | $-4.25 | $0.12 |
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MARAOSW
| Q4 25 | $202.3M | $242.1M | ||
| Q3 25 | $252.4M | $258.5M | ||
| Q2 25 | $238.5M | $240.7M | ||
| Q1 25 | $213.9M | $219.6M | ||
| Q4 24 | $214.4M | $217.2M | ||
| Q3 24 | $131.6M | $241.7M | ||
| Q2 24 | $145.1M | $224.9M | ||
| Q1 24 | $165.2M | $211.2M |
净利润MARAOSW
| Q4 25 | $-1.7B | $12.1M | ||
| Q3 25 | $123.1M | $24.3M | ||
| Q2 25 | $808.2M | $19.9M | ||
| Q1 25 | $-533.4M | $15.3M | ||
| Q4 24 | $528.5M | $14.4M | ||
| Q3 24 | $-124.8M | $21.6M | ||
| Q2 24 | $-199.7M | $15.8M | ||
| Q1 24 | $337.2M | $21.2M |
毛利率MARAOSW
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -2613.4% | — | ||
| Q3 24 | -1065.0% | — | ||
| Q2 24 | -587.6% | — | ||
| Q1 24 | -289.4% | — |
营业利润率MARAOSW
| Q4 25 | -11795.9% | 6.8% | ||
| Q3 25 | 18.9% | 10.2% | ||
| Q2 25 | — | 9.2% | ||
| Q1 25 | -253.0% | 7.7% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | -130.8% | 10.3% | ||
| Q2 24 | -160.1% | 8.4% | ||
| Q1 24 | — | 8.0% |
净利率MARAOSW
| Q4 25 | -14298.3% | 5.0% | ||
| Q3 25 | 48.8% | 9.4% | ||
| Q2 25 | 338.9% | 8.3% | ||
| Q1 25 | -249.4% | 7.0% | ||
| Q4 24 | 5367.4% | 6.6% | ||
| Q3 24 | -94.8% | 8.9% | ||
| Q2 24 | -137.6% | 7.0% | ||
| Q1 24 | 204.1% | 10.0% |
每股收益（稀释后）MARAOSW
| Q4 25 | $-4.25 | $0.12 | ||
| Q3 25 | $0.27 | $0.23 | ||
| Q2 25 | $1.84 | $0.19 | ||
| Q1 25 | $-1.55 | $0.15 | ||
| Q4 24 | $1.60 | $0.13 | ||
| Q3 24 | $-0.42 | $0.20 | ||
| Q2 24 | $-0.72 | $0.15 | ||
| Q1 24 | $1.26 | $0.21 |
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 | $547.1M | $16.3M |
| 总债务越低越好 | $3.6B | $84.0M |
| 股东权益账面价值 | $3.5B | $542.6M |
| 总资产 | $7.3B | $707.1M |
| 负债/权益比越低杠杆越低 | 1.04× | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资MARAOSW
| Q4 25 | $547.1M | $16.3M | ||
| Q3 25 | $826.4M | $29.6M | ||
| Q2 25 | $109.5M | $35.0M | ||
| Q1 25 | $196.2M | $22.6M | ||
| Q4 24 | $391.8M | $57.4M | ||
| Q3 24 | $164.3M | $48.8M | ||
| Q2 24 | $256.0M | $62.5M | ||
| Q1 24 | $324.3M | $65.4M |
总债务MARAOSW
| Q4 25 | $3.6B | $84.0M | ||
| Q3 25 | $3.2B | $85.2M | ||
| Q2 25 | $2.3B | $96.2M | ||
| Q1 25 | $2.3B | $97.4M | ||
| Q4 24 | $2.4B | $98.6M | ||
| Q3 24 | $618.7M | $98.7M | ||
| Q2 24 | — | $123.8M | ||
| Q1 24 | — | $138.6M |
股东权益MARAOSW
| Q4 25 | $3.5B | $542.6M | ||
| Q3 25 | $5.2B | $552.8M | ||
| Q2 25 | $4.8B | $548.3M | ||
| Q1 25 | $3.7B | $530.6M | ||
| Q4 24 | $4.1B | $554.5M | ||
| Q3 24 | $2.9B | $540.1M | ||
| Q2 24 | $2.6B | $532.7M | ||
| Q1 24 | $2.5B | $515.5M |
总资产MARAOSW
| Q4 25 | $7.3B | $707.1M | ||
| Q3 25 | $9.2B | $732.6M | ||
| Q2 25 | $7.7B | $731.8M | ||
| Q1 25 | $6.4B | $708.7M | ||
| Q4 24 | $6.8B | $746.4M | ||
| Q3 24 | $3.6B | $734.0M | ||
| Q2 24 | $3.1B | $756.8M | ||
| Q1 24 | $3.0B | $763.6M |
负债/权益比MARAOSW
| Q4 25 | 1.04× | 0.15× | ||
| Q3 25 | 0.63× | 0.15× | ||
| Q2 25 | 0.47× | 0.18× | ||
| Q1 25 | 0.62× | 0.18× | ||
| Q4 24 | 0.59× | 0.18× | ||
| Q3 24 | 0.22× | 0.18× | ||
| Q2 24 | — | 0.23× | ||
| Q1 24 | — | 0.27× |
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 | $-802.7M | $20.0M |
| 自由现金流经营现金流 - 资本支出 | $-1.2B | $14.9M |
| 自由现金流率自由现金流/营收 | -598.0% | 6.2% |
| 资本支出强度资本支出/营收 | 201.2% | 2.1% |
| 现金转化率经营现金流/净利润 | — | 1.65× |
| 过去12个月自由现金流最近4个季度 | $-2.0B | $68.4M |
8季度趋势，按日历期对齐
经营现金流MARAOSW
| Q4 25 | $-802.7M | $20.0M | ||
| Q3 25 | $-199.0M | $33.2M | ||
| Q2 25 | $-163.4M | $20.3M | ||
| Q1 25 | $-215.5M | $10.1M | ||
| Q4 24 | $-677.0M | $16.6M | ||
| Q3 24 | $-160.1M | $28.6M | ||
| Q2 24 | $-115.2M | $18.7M | ||
| Q1 24 | $-88.3M | $15.0M |
自由现金流MARAOSW
| Q4 25 | $-1.2B | $14.9M | ||
| Q3 25 | $-283.9M | $27.6M | ||
| Q2 25 | $-282.4M | $17.6M | ||
| Q1 25 | $-254.3M | $8.4M | ||
| Q4 24 | $-927.8M | $13.2M | ||
| Q3 24 | $-198.1M | $27.5M | ||
| Q2 24 | $-132.4M | $17.6M | ||
| Q1 24 | $-97.4M | $13.7M |
自由现金流率MARAOSW
| Q4 25 | -598.0% | 6.2% | ||
| Q3 25 | -112.5% | 10.7% | ||
| Q2 25 | -118.4% | 7.3% | ||
| Q1 25 | -118.9% | 3.8% | ||
| Q4 24 | -432.8% | 6.1% | ||
| Q3 24 | -150.5% | 11.4% | ||
| Q2 24 | -91.2% | 7.8% | ||
| Q1 24 | -59.0% | 6.5% |
资本支出强度MARAOSW
| Q4 25 | 201.2% | 2.1% | ||
| Q3 25 | 33.6% | 2.2% | ||
| Q2 25 | 49.9% | 1.1% | ||
| Q1 25 | 18.2% | 0.8% | ||
| Q4 24 | 117.0% | 1.5% | ||
| Q3 24 | 28.9% | 0.5% | ||
| Q2 24 | 11.9% | 0.5% | ||
| Q1 24 | 5.5% | 0.6% |
现金转化率MARAOSW
| Q4 25 | — | 1.65× | ||
| Q3 25 | -1.62× | 1.36× | ||
| Q2 25 | -0.20× | 1.02× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | -1.28× | 1.15× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | -0.26× | 0.71× |
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
MARA
暂无分部数据
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
