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Masco（MAS）与希悦尔（SEE）财务数据对比。点击上方公司名可切换其他公司
Masco的季度营收约是希悦尔的1.4倍（$1.9B vs $1.4B），Masco净利率更高（11.9% vs 3.1%，领先8.7%），Masco同比增速更快（6.5% vs 2.6%），过去两年希悦尔的营收复合增速更高（2.7% 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。
希悦尔是全球领先的包装与防护解决方案供应商，核心产品包括缓冲防护材料、食品保鲜包装、可持续减废包装系统，服务覆盖电商、零售、食品饮料、工业制造等多个海内外领域。
MAS vs SEE — 直观对比
营收规模更大
MAS
是对方的1.4倍
$1.4B
营收增速更快
MAS
高出3.9%
2.6%
净利率更高
MAS
高出8.7%
3.1%
两年增速更快
SEE
近两年复合增速
-4.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.4B |
| 净利润 | $228.0M | $43.8M |
| 毛利率 | 35.8% | 28.6% |
| 营业利润率 | 16.5% | 11.4% |
| 净利率 | 11.9% | 3.1% |
| 营收同比 | 6.5% | 2.6% |
| 净利润同比 | 14.5% | 700.0% |
| 每股收益（稀释后） | — | $0.30 |
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MASSEE
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.8B | $1.4B | ||
| Q3 25 | $1.9B | $1.3B | ||
| Q2 25 | $2.1B | $1.3B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $1.8B | $1.4B | ||
| Q3 24 | $2.0B | $1.3B | ||
| Q2 24 | $2.1B | $1.3B |
净利润MASSEE
| Q1 26 | $228.0M | — | ||
| Q4 25 | $165.0M | $43.8M | ||
| Q3 25 | $189.0M | $255.1M | ||
| Q2 25 | $270.0M | $93.1M | ||
| Q1 25 | $186.0M | $113.5M | ||
| Q4 24 | $182.0M | $-7.3M | ||
| Q3 24 | $167.0M | $91.7M | ||
| Q2 24 | $258.0M | $98.3M |
毛利率MASSEE
| Q1 26 | 35.8% | — | ||
| Q4 25 | 33.9% | 28.6% | ||
| Q3 25 | 34.2% | 29.8% | ||
| Q2 25 | 37.6% | 30.7% | ||
| Q1 25 | 35.8% | 30.9% | ||
| Q4 24 | 34.8% | 30.0% | ||
| Q3 24 | 36.6% | 30.1% | ||
| Q2 24 | 37.5% | 31.2% |
营业利润率MASSEE
| Q1 26 | 16.5% | — | ||
| Q4 25 | 13.8% | 11.4% | ||
| Q3 25 | 15.8% | 13.8% | ||
| Q2 25 | 20.1% | 15.0% | ||
| Q1 25 | 15.9% | 14.5% | ||
| Q4 24 | 15.9% | 11.7% | ||
| Q3 24 | 18.0% | 13.9% | ||
| Q2 24 | 19.0% | 15.4% |
净利率MASSEE
| Q1 26 | 11.9% | — | ||
| Q4 25 | 9.2% | 3.1% | ||
| Q3 25 | 9.9% | 19.0% | ||
| Q2 25 | 13.2% | 7.0% | ||
| Q1 25 | 10.3% | 9.0% | ||
| Q4 24 | 10.0% | -0.5% | ||
| Q3 24 | 8.4% | 6.9% | ||
| Q2 24 | 12.3% | 7.4% |
每股收益（稀释后）MASSEE
| Q1 26 | — | — | ||
| Q4 25 | $0.81 | $0.30 | ||
| Q3 25 | $0.90 | $1.73 | ||
| Q2 25 | $1.28 | $0.63 | ||
| Q1 25 | $0.87 | $0.77 | ||
| Q4 24 | $0.85 | $-0.05 | ||
| Q3 24 | $0.77 | $0.63 | ||
| Q2 24 | $1.17 | $0.67 |
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 | — | $344.0M |
| 总债务越低越好 | $2.9B | $3.3B |
| 股东权益账面价值 | $27.0M | $1.2B |
| 总资产 | $5.2B | $7.0B |
| 负债/权益比越低杠杆越低 | 109.07× | 2.65× |
8季度趋势，按日历期对齐
现金及短期投资MASSEE
| Q1 26 | — | — | ||
| Q4 25 | $647.0M | $344.0M | ||
| Q3 25 | $559.0M | $282.5M | ||
| Q2 25 | $390.0M | $354.4M | ||
| Q1 25 | $377.0M | $335.2M | ||
| Q4 24 | $634.0M | $371.8M | ||
| Q3 24 | $646.0M | $386.0M | ||
| Q2 24 | $398.0M | $388.6M |
总债务MASSEE
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $3.3B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | $2.9B | $4.2B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.4B |
股东权益MASSEE
| Q1 26 | $27.0M | — | ||
| Q4 25 | $-185.0M | $1.2B | ||
| Q3 25 | $-78.0M | $1.2B | ||
| Q2 25 | $-84.0M | $953.1M | ||
| Q1 25 | $-254.0M | $797.9M | ||
| Q4 24 | $-279.0M | $624.5M | ||
| Q3 24 | $-88.0M | $771.2M | ||
| Q2 24 | $-26.0M | $650.1M |
总资产MASSEE
| Q1 26 | $5.2B | — | ||
| Q4 25 | $5.2B | $7.0B | ||
| Q3 25 | $5.3B | $7.1B | ||
| Q2 25 | $5.3B | $7.2B | ||
| Q1 25 | $5.1B | $7.0B | ||
| Q4 24 | $5.0B | $7.0B | ||
| Q3 24 | $5.3B | $7.3B | ||
| Q2 24 | $5.4B | $7.3B |
负债/权益比MASSEE
| Q1 26 | 109.07× | — | ||
| Q4 25 | — | 2.65× | ||
| Q3 25 | — | 3.34× | ||
| Q2 25 | — | 4.18× | ||
| Q1 25 | — | 5.26× | ||
| Q4 24 | — | 6.72× | ||
| Q3 24 | — | 5.62× | ||
| Q2 24 | — | 6.81× |
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 | — | $293.6M |
| 自由现金流经营现金流 - 资本支出 | — | $257.7M |
| 自由现金流率自由现金流/营收 | — | 18.5% |
| 资本支出强度资本支出/营收 | 1.8% | 2.6% |
| 现金转化率经营现金流/净利润 | — | 6.70× |
| 过去12个月自由现金流最近4个季度 | — | $458.5M |
8季度趋势，按日历期对齐
经营现金流MASSEE
| Q1 26 | — | — | ||
| Q4 25 | $418.0M | $293.6M | ||
| Q3 25 | $456.0M | $165.9M | ||
| Q2 25 | $306.0M | $136.6M | ||
| Q1 25 | $-158.0M | $31.9M | ||
| Q4 24 | $407.0M | $244.2M | ||
| Q3 24 | $416.0M | $170.5M | ||
| Q2 24 | $346.0M | $188.2M |
自由现金流MASSEE
| Q1 26 | — | — | ||
| Q4 25 | $371.0M | $257.7M | ||
| Q3 25 | $415.0M | $119.6M | ||
| Q2 25 | $270.0M | $93.2M | ||
| Q1 25 | $-190.0M | $-12.0M | ||
| Q4 24 | $351.0M | $185.1M | ||
| Q3 24 | $378.0M | $115.2M | ||
| Q2 24 | $303.0M | $129.5M |
自由现金流率MASSEE
| Q1 26 | — | — | ||
| Q4 25 | 20.7% | 18.5% | ||
| Q3 25 | 21.6% | 8.9% | ||
| Q2 25 | 13.2% | 7.0% | ||
| Q1 25 | -10.5% | -0.9% | ||
| Q4 24 | 19.2% | 13.6% | ||
| Q3 24 | 19.1% | 8.6% | ||
| Q2 24 | 14.5% | 9.7% |
资本支出强度MASSEE
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.6% | 2.6% | ||
| Q3 25 | 2.1% | 3.4% | ||
| Q2 25 | 1.8% | 3.3% | ||
| Q1 25 | 1.8% | 3.5% | ||
| Q4 24 | 3.1% | 4.4% | ||
| Q3 24 | 1.9% | 4.1% | ||
| Q2 24 | 2.1% | 4.4% |
现金转化率MASSEE
| Q1 26 | — | — | ||
| Q4 25 | 2.53× | 6.70× | ||
| Q3 25 | 2.41× | 0.65× | ||
| Q2 25 | 1.13× | 1.47× | ||
| Q1 25 | -0.85× | 0.28× | ||
| Q4 24 | 2.24× | — | ||
| Q3 24 | 2.49× | 1.86× | ||
| Q2 24 | 1.34× | 1.91× |
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
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
