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Masco（MAS）与SHOPIFY INC.（SHOP）财务数据对比。点击上方公司名可切换其他公司
SHOPIFY INC.的季度营收约是Masco的1.9倍（$3.7B vs $1.9B），SHOPIFY INC.净利率更高（20.2% vs 11.9%，领先8.3%），SHOPIFY INC.同比增速更快（30.6% vs 6.5%），过去两年SHOPIFY INC.的营收复合增速更高（40.5% 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。
Shopify是总部位于加拿大安大略省渥太华的跨国电商企业，运营零售POS系统及相关服务平台，全球客户超500万，2024年总交易处理额达2923亿美元，其中57%来自美国市场，服务客户包括特斯拉、路威酩轩、雀巢、百事、百威英博、红牛、凯悦等知名品牌。
MAS vs SHOP — 直观对比
营收规模更大
SHOP
是对方的1.9倍
$1.9B
营收增速更快
SHOP
高出24.1%
6.5%
净利率更高
SHOP
高出8.3%
11.9%
两年增速更快
SHOP
近两年复合增速
-4.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $3.7B |
| 净利润 | $228.0M | $743.0M |
| 毛利率 | 35.8% | 46.1% |
| 营业利润率 | 16.5% | 17.2% |
| 净利率 | 11.9% | 20.2% |
| 营收同比 | 6.5% | 30.6% |
| 净利润同比 | 14.5% | -42.5% |
| 每股收益（稀释后） | — | $0.58 |
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MASSHOP
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.8B | $3.7B | ||
| Q3 25 | $1.9B | $2.8B | ||
| Q2 25 | $2.1B | $2.7B | ||
| Q1 25 | $1.8B | $2.4B | ||
| Q4 24 | $1.8B | $2.8B | ||
| Q3 24 | $2.0B | $2.2B | ||
| Q2 24 | $2.1B | $2.0B |
净利润MASSHOP
| Q1 26 | $228.0M | — | ||
| Q4 25 | $165.0M | $743.0M | ||
| Q3 25 | $189.0M | $264.0M | ||
| Q2 25 | $270.0M | $906.0M | ||
| Q1 25 | $186.0M | $-682.0M | ||
| Q4 24 | $182.0M | $1.3B | ||
| Q3 24 | $167.0M | $828.0M | ||
| Q2 24 | $258.0M | $171.0M |
毛利率MASSHOP
| Q1 26 | 35.8% | — | ||
| Q4 25 | 33.9% | 46.1% | ||
| Q3 25 | 34.2% | 48.9% | ||
| Q2 25 | 37.6% | 48.6% | ||
| Q1 25 | 35.8% | 49.5% | ||
| Q4 24 | 34.8% | 48.1% | ||
| Q3 24 | 36.6% | 51.7% | ||
| Q2 24 | 37.5% | 51.1% |
营业利润率MASSHOP
| Q1 26 | 16.5% | — | ||
| Q4 25 | 13.8% | 17.2% | ||
| Q3 25 | 15.8% | 12.1% | ||
| Q2 25 | 20.1% | 10.9% | ||
| Q1 25 | 15.9% | 8.6% | ||
| Q4 24 | 15.9% | 16.5% | ||
| Q3 24 | 18.0% | 13.1% | ||
| Q2 24 | 19.0% | 11.8% |
净利率MASSHOP
| Q1 26 | 11.9% | — | ||
| Q4 25 | 9.2% | 20.2% | ||
| Q3 25 | 9.9% | 9.3% | ||
| Q2 25 | 13.2% | 33.8% | ||
| Q1 25 | 10.3% | -28.9% | ||
| Q4 24 | 10.0% | 46.0% | ||
| Q3 24 | 8.4% | 38.3% | ||
| Q2 24 | 12.3% | 8.4% |
每股收益（稀释后）MASSHOP
| Q1 26 | — | — | ||
| Q4 25 | $0.81 | $0.58 | ||
| Q3 25 | $0.90 | $0.20 | ||
| Q2 25 | $1.28 | $0.69 | ||
| Q1 25 | $0.87 | $-0.53 | ||
| Q4 24 | $0.85 | $0.99 | ||
| Q3 24 | $0.77 | $0.64 | ||
| Q2 24 | $1.17 | $0.13 |
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 | — | $5.8B |
| 总债务越低越好 | $2.9B | — |
| 股东权益账面价值 | $27.0M | $13.5B |
| 总资产 | $5.2B | $15.2B |
| 负债/权益比越低杠杆越低 | 109.07× | — |
8季度趋势，按日历期对齐
现金及短期投资MASSHOP
| Q1 26 | — | — | ||
| Q4 25 | $647.0M | $5.8B | ||
| Q3 25 | $559.0M | $6.3B | ||
| Q2 25 | $390.0M | $5.8B | ||
| Q1 25 | $377.0M | $5.5B | ||
| Q4 24 | $634.0M | $5.5B | ||
| Q3 24 | $646.0M | — | ||
| Q2 24 | $398.0M | — |
总债务MASSHOP
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益MASSHOP
| Q1 26 | $27.0M | — | ||
| Q4 25 | $-185.0M | $13.5B | ||
| Q3 25 | $-78.0M | $12.5B | ||
| Q2 25 | $-84.0M | $12.1B | ||
| Q1 25 | $-254.0M | $11.1B | ||
| Q4 24 | $-279.0M | $11.6B | ||
| Q3 24 | $-88.0M | $10.1B | ||
| Q2 24 | $-26.0M | $9.2B |
总资产MASSHOP
| Q1 26 | $5.2B | — | ||
| Q4 25 | $5.2B | $15.2B | ||
| Q3 25 | $5.3B | $15.0B | ||
| Q2 25 | $5.3B | $14.6B | ||
| Q1 25 | $5.1B | $13.4B | ||
| Q4 24 | $5.0B | $13.9B | ||
| Q3 24 | $5.3B | — | ||
| Q2 24 | $5.4B | — |
负债/权益比MASSHOP
| Q1 26 | 109.07× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $725.0M |
| 自由现金流经营现金流 - 资本支出 | — | $715.0M |
| 自由现金流率自由现金流/营收 | — | 19.5% |
| 资本支出强度资本支出/营收 | 1.8% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 0.98× |
| 过去12个月自由现金流最近4个季度 | — | $2.0B |
8季度趋势，按日历期对齐
经营现金流MASSHOP
| Q1 26 | — | — | ||
| Q4 25 | $418.0M | $725.0M | ||
| Q3 25 | $456.0M | $513.0M | ||
| Q2 25 | $306.0M | $428.0M | ||
| Q1 25 | $-158.0M | $367.0M | ||
| Q4 24 | $407.0M | $615.0M | ||
| Q3 24 | $416.0M | $423.0M | ||
| Q2 24 | $346.0M | $340.0M |
自由现金流MASSHOP
| Q1 26 | — | — | ||
| Q4 25 | $371.0M | $715.0M | ||
| Q3 25 | $415.0M | $507.0M | ||
| Q2 25 | $270.0M | $422.0M | ||
| Q1 25 | $-190.0M | $363.0M | ||
| Q4 24 | $351.0M | $611.0M | ||
| Q3 24 | $378.0M | $421.0M | ||
| Q2 24 | $303.0M | $333.0M |
自由现金流率MASSHOP
| Q1 26 | — | — | ||
| Q4 25 | 20.7% | 19.5% | ||
| Q3 25 | 21.6% | 17.8% | ||
| Q2 25 | 13.2% | 15.7% | ||
| Q1 25 | -10.5% | 15.4% | ||
| Q4 24 | 19.2% | 21.7% | ||
| Q3 24 | 19.1% | 19.5% | ||
| Q2 24 | 14.5% | 16.3% |
资本支出强度MASSHOP
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.6% | 0.3% | ||
| Q3 25 | 2.1% | 0.2% | ||
| Q2 25 | 1.8% | 0.2% | ||
| Q1 25 | 1.8% | 0.2% | ||
| Q4 24 | 3.1% | 0.1% | ||
| Q3 24 | 1.9% | 0.1% | ||
| Q2 24 | 2.1% | 0.3% |
现金转化率MASSHOP
| Q1 26 | — | — | ||
| Q4 25 | 2.53× | 0.98× | ||
| Q3 25 | 2.41× | 1.94× | ||
| Q2 25 | 1.13× | 0.47× | ||
| Q1 25 | -0.85× | — | ||
| Q4 24 | 2.24× | 0.48× | ||
| Q3 24 | 2.49× | 0.51× | ||
| Q2 24 | 1.34× | 1.99× |
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
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
