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Masco（MAS）与西蒙地产集团（SPG）财务数据对比。点击上方公司名可切换其他公司
Masco的季度营收约是西蒙地产集团的1.1倍（$1.9B vs $1.8B），西蒙地产集团净利率更高（197.6% vs 11.9%，领先185.7%），西蒙地产集团同比增速更快（13.2% vs 6.5%），过去两年西蒙地产集团的营收复合增速更高（11.4% 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。
西蒙地产集团是美国头部房地产投资信托企业，核心投资范畴涵盖购物中心、奥特莱斯、社区及生活方式中心，是美国规模最大的购物中心持有方，总部位于印第安纳州印第安纳波利斯，截至2024年12月末共持有232处物业的相关权益。
MAS vs SPG — 直观对比
营收规模更大
MAS
是对方的1.1倍
$1.8B
营收增速更快
SPG
高出6.7%
6.5%
净利率更高
SPG
高出185.7%
11.9%
两年增速更快
SPG
近两年复合增速
-4.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.8B |
| 净利润 | $228.0M | $3.5B |
| 毛利率 | 35.8% | — |
| 营业利润率 | 16.5% | 49.7% |
| 净利率 | 11.9% | 197.6% |
| 营收同比 | 6.5% | 13.2% |
| 净利润同比 | 14.5% | 358.7% |
| 每股收益（稀释后） | — | $9.34 |
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MASSPG
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.8B | $1.8B | ||
| Q3 25 | $1.9B | $1.6B | ||
| Q2 25 | $2.1B | $1.5B | ||
| Q1 25 | $1.8B | $1.5B | ||
| Q4 24 | $1.8B | $1.6B | ||
| Q3 24 | $2.0B | $1.5B | ||
| Q2 24 | $2.1B | $1.5B |
净利润MASSPG
| Q1 26 | $228.0M | — | ||
| Q4 25 | $165.0M | $3.5B | ||
| Q3 25 | $189.0M | $702.7M | ||
| Q2 25 | $270.0M | $643.7M | ||
| Q1 25 | $186.0M | $477.9M | ||
| Q4 24 | $182.0M | $771.8M | ||
| Q3 24 | $167.0M | $546.7M | ||
| Q2 24 | $258.0M | $569.4M |
毛利率MASSPG
| Q1 26 | 35.8% | — | ||
| Q4 25 | 33.9% | — | ||
| Q3 25 | 34.2% | — | ||
| Q2 25 | 37.6% | — | ||
| Q1 25 | 35.8% | — | ||
| Q4 24 | 34.8% | — | ||
| Q3 24 | 36.6% | — | ||
| Q2 24 | 37.5% | — |
营业利润率MASSPG
| Q1 26 | 16.5% | — | ||
| Q4 25 | 13.8% | 49.7% | ||
| Q3 25 | 15.8% | 50.8% | ||
| Q2 25 | 20.1% | 49.7% | ||
| Q1 25 | 15.9% | 49.4% | ||
| Q4 24 | 15.9% | 52.8% | ||
| Q3 24 | 18.0% | 51.9% | ||
| Q2 24 | 19.0% | 51.7% |
净利率MASSPG
| Q1 26 | 11.9% | — | ||
| Q4 25 | 9.2% | 197.6% | ||
| Q3 25 | 9.9% | 43.9% | ||
| Q2 25 | 13.2% | 43.0% | ||
| Q1 25 | 10.3% | 32.4% | ||
| Q4 24 | 10.0% | 48.8% | ||
| Q3 24 | 8.4% | 36.9% | ||
| Q2 24 | 12.3% | 39.0% |
每股收益（稀释后）MASSPG
| Q1 26 | — | — | ||
| Q4 25 | $0.81 | $9.34 | ||
| Q3 25 | $0.90 | $1.86 | ||
| Q2 25 | $1.28 | $1.70 | ||
| Q1 25 | $0.87 | $1.27 | ||
| Q4 24 | $0.85 | $2.04 | ||
| Q3 24 | $0.77 | $1.46 | ||
| Q2 24 | $1.17 | $1.51 |
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 | — | $823.1M |
| 总债务越低越好 | $2.9B | $28.4B |
| 股东权益账面价值 | $27.0M | $5.2B |
| 总资产 | $5.2B | $40.6B |
| 负债/权益比越低杠杆越低 | 109.07× | 5.46× |
8季度趋势，按日历期对齐
现金及短期投资MASSPG
| Q1 26 | — | — | ||
| Q4 25 | $647.0M | $823.1M | ||
| Q3 25 | $559.0M | $1.6B | ||
| Q2 25 | $390.0M | $1.2B | ||
| Q1 25 | $377.0M | $1.4B | ||
| Q4 24 | $634.0M | $1.4B | ||
| Q3 24 | $646.0M | $2.5B | ||
| Q2 24 | $398.0M | $2.5B |
总债务MASSPG
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $28.4B | ||
| Q3 25 | — | $25.8B | ||
| Q2 25 | — | $25.4B | ||
| Q1 25 | — | $24.8B | ||
| Q4 24 | $2.9B | $24.3B | ||
| Q3 24 | — | $25.4B | ||
| Q2 24 | — | $25.3B |
股东权益MASSPG
| Q1 26 | $27.0M | — | ||
| Q4 25 | $-185.0M | $5.2B | ||
| Q3 25 | $-78.0M | $2.3B | ||
| Q2 25 | $-84.0M | $2.5B | ||
| Q1 25 | $-254.0M | $2.6B | ||
| Q4 24 | $-279.0M | $2.9B | ||
| Q3 24 | $-88.0M | $2.7B | ||
| Q2 24 | $-26.0M | $2.9B |
总资产MASSPG
| Q1 26 | $5.2B | — | ||
| Q4 25 | $5.2B | $40.6B | ||
| Q3 25 | $5.3B | $33.6B | ||
| Q2 25 | $5.3B | $33.3B | ||
| Q1 25 | $5.1B | $32.5B | ||
| Q4 24 | $5.0B | $32.4B | ||
| Q3 24 | $5.3B | $33.3B | ||
| Q2 24 | $5.4B | $33.4B |
负债/权益比MASSPG
| Q1 26 | 109.07× | — | ||
| Q4 25 | — | 5.46× | ||
| Q3 25 | — | 10.98× | ||
| Q2 25 | — | 10.36× | ||
| Q1 25 | — | 9.50× | ||
| Q4 24 | — | 8.25× | ||
| Q3 24 | — | 9.37× | ||
| Q2 24 | — | 8.59× |
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 | — | $1.2B |
| 自由现金流经营现金流 - 资本支出 | — | $948.8M |
| 自由现金流率自由现金流/营收 | — | 53.0% |
| 资本支出强度资本支出/营收 | 1.8% | 14.2% |
| 现金转化率经营现金流/净利润 | — | 0.34× |
| 过去12个月自由现金流最近4个季度 | — | $3.2B |
8季度趋势，按日历期对齐
经营现金流MASSPG
| Q1 26 | — | — | ||
| Q4 25 | $418.0M | $1.2B | ||
| Q3 25 | $456.0M | $890.3M | ||
| Q2 25 | $306.0M | $1.2B | ||
| Q1 25 | $-158.0M | $827.2M | ||
| Q4 24 | $407.0M | $1.1B | ||
| Q3 24 | $416.0M | $892.9M | ||
| Q2 24 | $346.0M | $1.1B |
自由现金流MASSPG
| Q1 26 | — | — | ||
| Q4 25 | $371.0M | $948.8M | ||
| Q3 25 | $415.0M | $685.0M | ||
| Q2 25 | $270.0M | $971.3M | ||
| Q1 25 | $-190.0M | $597.0M | ||
| Q4 24 | $351.0M | $867.7M | ||
| Q3 24 | $378.0M | $706.5M | ||
| Q2 24 | $303.0M | $874.8M |
自由现金流率MASSPG
| Q1 26 | — | — | ||
| Q4 25 | 20.7% | 53.0% | ||
| Q3 25 | 21.6% | 42.8% | ||
| Q2 25 | 13.2% | 64.8% | ||
| Q1 25 | -10.5% | 40.5% | ||
| Q4 24 | 19.2% | 54.8% | ||
| Q3 24 | 19.1% | 47.7% | ||
| Q2 24 | 14.5% | 60.0% |
资本支出强度MASSPG
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.6% | 14.2% | ||
| Q3 25 | 2.1% | 12.8% | ||
| Q2 25 | 1.8% | 16.3% | ||
| Q1 25 | 1.8% | 15.6% | ||
| Q4 24 | 3.1% | 13.8% | ||
| Q3 24 | 1.9% | 12.6% | ||
| Q2 24 | 2.1% | 12.9% |
现金转化率MASSPG
| Q1 26 | — | — | ||
| Q4 25 | 2.53× | 0.34× | ||
| Q3 25 | 2.41× | 1.27× | ||
| Q2 25 | 1.13× | 1.89× | ||
| Q1 25 | -0.85× | 1.73× | ||
| Q4 24 | 2.24× | 1.41× | ||
| Q3 24 | 2.49× | 1.63× | ||
| Q2 24 | 1.34× | 1.87× |
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
SPG
| Real Estate Segment | $1.7B | 95% |
| Other | $86.3M | 5% |
