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Masco（MAS）与诺唯真游轮控股（NCLH）财务数据对比。点击上方公司名可切换其他公司
诺唯真游轮控股的季度营收约是Masco的1.2倍（$2.2B vs $1.9B），Masco净利率更高（11.9% vs 0.6%，领先11.3%），Masco同比增速更快（6.5% vs 6.4%），过去两年诺唯真游轮控股的营收复合增速更高（1.2% vs -4.2%）
美国家居建材企业Masco主营家装及新建住宅市场相关产品，旗下拥有20余家子公司，在全球运营近80座生产工厂，其中美国本土近60座，海外地区超20座。公司1969年于纽交所挂牌上市，后实现快速增长，成功跻身美国财富500强榜单。
诺唯真游轮（NCL）1966年创立于挪威，为美国知名游轮运营商，总部设于佛罗里达州迈阿密-戴德县，注册地为巴哈马，由诺唯真游轮控股全资持有。按载客量计算，该品牌为全球第四大游轮公司，2021年占全球游轮市场载客量份额约8.6%。
MAS vs NCLH — 直观对比
营收规模更大
NCLH
是对方的1.2倍
$1.9B
营收增速更快
MAS
高出0.1%
6.4%
净利率更高
MAS
高出11.3%
0.6%
两年增速更快
NCLH
近两年复合增速
-4.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.2B |
| 净利润 | $228.0M | $14.3M |
| 毛利率 | 35.8% | 41.0% |
| 营业利润率 | 16.5% | 8.3% |
| 净利率 | 11.9% | 0.6% |
| 营收同比 | 6.5% | 6.4% |
| 净利润同比 | 14.5% | -94.4% |
| 每股收益（稀释后） | — | $0.08 |
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MASNCLH
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.8B | $2.2B | ||
| Q3 25 | $1.9B | $2.9B | ||
| Q2 25 | $2.1B | $2.5B | ||
| Q1 25 | $1.8B | $2.1B | ||
| Q4 24 | $1.8B | $2.1B | ||
| Q3 24 | $2.0B | $2.8B | ||
| Q2 24 | $2.1B | $2.4B |
净利润MASNCLH
| Q1 26 | $228.0M | — | ||
| Q4 25 | $165.0M | $14.3M | ||
| Q3 25 | $189.0M | $419.3M | ||
| Q2 25 | $270.0M | $30.0M | ||
| Q1 25 | $186.0M | $-40.3M | ||
| Q4 24 | $182.0M | $254.5M | ||
| Q3 24 | $167.0M | $474.9M | ||
| Q2 24 | $258.0M | $163.4M |
毛利率MASNCLH
| Q1 26 | 35.8% | — | ||
| Q4 25 | 33.9% | 41.0% | ||
| Q3 25 | 34.2% | 47.1% | ||
| Q2 25 | 37.6% | 42.1% | ||
| Q1 25 | 35.8% | 38.7% | ||
| Q4 24 | 34.8% | 38.0% | ||
| Q3 24 | 36.6% | 45.2% | ||
| Q2 24 | 37.5% | 38.7% |
营业利润率MASNCLH
| Q1 26 | 16.5% | — | ||
| Q4 25 | 13.8% | 8.3% | ||
| Q3 25 | 15.8% | 25.5% | ||
| Q2 25 | 20.1% | 16.8% | ||
| Q1 25 | 15.9% | 9.4% | ||
| Q4 24 | 15.9% | 10.2% | ||
| Q3 24 | 18.0% | 24.6% | ||
| Q2 24 | 19.0% | 14.4% |
净利率MASNCLH
| Q1 26 | 11.9% | — | ||
| Q4 25 | 9.2% | 0.6% | ||
| Q3 25 | 9.9% | 14.3% | ||
| Q2 25 | 13.2% | 1.2% | ||
| Q1 25 | 10.3% | -1.9% | ||
| Q4 24 | 10.0% | 12.1% | ||
| Q3 24 | 8.4% | 16.9% | ||
| Q2 24 | 12.3% | 6.9% |
每股收益（稀释后）MASNCLH
| Q1 26 | — | — | ||
| Q4 25 | $0.81 | $0.08 | ||
| Q3 25 | $0.90 | $0.86 | ||
| Q2 25 | $1.28 | $0.07 | ||
| Q1 25 | $0.87 | $-0.09 | ||
| Q4 24 | $0.85 | $0.55 | ||
| Q3 24 | $0.77 | $0.95 | ||
| Q2 24 | $1.17 | $0.35 |
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 | — | $209.9M |
| 总债务越低越好 | $2.9B | $13.7B |
| 股东权益账面价值 | $27.0M | $2.2B |
| 总资产 | $5.2B | $22.5B |
| 负债/权益比越低杠杆越低 | 109.07× | 6.21× |
8季度趋势，按日历期对齐
现金及短期投资MASNCLH
| Q1 26 | — | — | ||
| Q4 25 | $647.0M | $209.9M | ||
| Q3 25 | $559.0M | $166.8M | ||
| Q2 25 | $390.0M | $184.0M | ||
| Q1 25 | $377.0M | $184.4M | ||
| Q4 24 | $634.0M | $190.8M | ||
| Q3 24 | $646.0M | $332.5M | ||
| Q2 24 | $398.0M | $594.1M |
总债务MASNCLH
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $13.7B | ||
| Q3 25 | — | $13.6B | ||
| Q2 25 | — | $12.6B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | $2.9B | $11.8B | ||
| Q3 24 | — | $11.8B | ||
| Q2 24 | — | $11.9B |
股东权益MASNCLH
| Q1 26 | $27.0M | — | ||
| Q4 25 | $-185.0M | $2.2B | ||
| Q3 25 | $-78.0M | $2.2B | ||
| Q2 25 | $-84.0M | $1.6B | ||
| Q1 25 | $-254.0M | $1.4B | ||
| Q4 24 | $-279.0M | $1.4B | ||
| Q3 24 | $-88.0M | $1.1B | ||
| Q2 24 | $-26.0M | $693.1M |
总资产MASNCLH
| Q1 26 | $5.2B | — | ||
| Q4 25 | $5.2B | $22.5B | ||
| Q3 25 | $5.3B | $22.2B | ||
| Q2 25 | $5.3B | $21.6B | ||
| Q1 25 | $5.1B | $21.4B | ||
| Q4 24 | $5.0B | $20.0B | ||
| Q3 24 | $5.3B | $19.8B | ||
| Q2 24 | $5.4B | $20.1B |
负债/权益比MASNCLH
| Q1 26 | 109.07× | — | ||
| Q4 25 | — | 6.21× | ||
| Q3 25 | — | 6.22× | ||
| Q2 25 | — | 8.05× | ||
| Q1 25 | — | 9.09× | ||
| Q4 24 | — | 8.26× | ||
| Q3 24 | — | 10.35× | ||
| Q2 24 | — | 17.19× |
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 | — | $459.1M |
| 自由现金流经营现金流 - 资本支出 | — | $21.5M |
| 自由现金流率自由现金流/营收 | — | 1.0% |
| 资本支出强度资本支出/营收 | 1.8% | 19.5% |
| 现金转化率经营现金流/净利润 | — | 32.21× |
| 过去12个月自由现金流最近4个季度 | — | $-1.2B |
8季度趋势，按日历期对齐
经营现金流MASNCLH
| Q1 26 | — | — | ||
| Q4 25 | $418.0M | $459.1M | ||
| Q3 25 | $456.0M | $236.6M | ||
| Q2 25 | $306.0M | $714.9M | ||
| Q1 25 | $-158.0M | $679.2M | ||
| Q4 24 | $407.0M | $399.3M | ||
| Q3 24 | $416.0M | $172.5M | ||
| Q2 24 | $346.0M | $670.9M |
自由现金流MASNCLH
| Q1 26 | — | — | ||
| Q4 25 | $371.0M | $21.5M | ||
| Q3 25 | $415.0M | $-726.5M | ||
| Q2 25 | $270.0M | $381.2M | ||
| Q1 25 | $-190.0M | $-846.0M | ||
| Q4 24 | $351.0M | $155.8M | ||
| Q3 24 | $378.0M | $-195.5M | ||
| Q2 24 | $303.0M | $330.2M |
自由现金流率MASNCLH
| Q1 26 | — | — | ||
| Q4 25 | 20.7% | 1.0% | ||
| Q3 25 | 21.6% | -24.7% | ||
| Q2 25 | 13.2% | 15.1% | ||
| Q1 25 | -10.5% | -39.8% | ||
| Q4 24 | 19.2% | 7.4% | ||
| Q3 24 | 19.1% | -7.0% | ||
| Q2 24 | 14.5% | 13.9% |
资本支出强度MASNCLH
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.6% | 19.5% | ||
| Q3 25 | 2.1% | 32.8% | ||
| Q2 25 | 1.8% | 13.3% | ||
| Q1 25 | 1.8% | 71.7% | ||
| Q4 24 | 3.1% | 11.5% | ||
| Q3 24 | 1.9% | 13.1% | ||
| Q2 24 | 2.1% | 14.4% |
现金转化率MASNCLH
| Q1 26 | — | — | ||
| Q4 25 | 2.53× | 32.21× | ||
| Q3 25 | 2.41× | 0.56× | ||
| Q2 25 | 1.13× | 23.83× | ||
| Q1 25 | -0.85× | — | ||
| Q4 24 | 2.24× | 1.57× | ||
| Q3 24 | 2.49× | 0.36× | ||
| Q2 24 | 1.34× | 4.10× |
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
MAS
暂无分部数据
NCLH
| Passenger | $1.5B | 67% |
| Onboard And Other | $734.4M | 33% |
