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Masco（MAS）与Tennessee Valley Authority（TVE）财务数据对比。点击上方公司名可切换其他公司
Tennessee Valley Authority的季度营收约是Masco的1.6倍（$3.0B vs $1.9B），Masco净利率更高（11.9% vs 8.7%，领先3.2%），Masco同比增速更快（6.5% vs 4.4%），过去两年Tennessee Valley Authority的营收复合增速更高（-1.7% 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。
田纳西河流域管理局（TVA）是美国联邦政府所有的电力公用事业企业，服务范围覆盖田纳西州全境，以及阿拉巴马州、密西西比州、肯塔基州的部分区域，还涵盖佐治亚州、北卡罗来纳州、弗吉尼亚州的小块区域。该企业虽归属联邦政府，但不依赖纳税人资金运营，运营模式与私营盈利企业类似，总部位于田纳西州诺克斯维尔。
MAS vs TVE — 直观对比
营收规模更大
TVE
是对方的1.6倍
$1.9B
营收增速更快
MAS
高出2.1%
4.4%
净利率更高
MAS
高出3.2%
8.7%
两年增速更快
TVE
近两年复合增速
-4.2%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $3.0B |
| 净利润 | $228.0M | $266.0M |
| 毛利率 | 35.8% | — |
| 营业利润率 | 16.5% | 18.1% |
| 净利率 | 11.9% | 8.7% |
| 营收同比 | 6.5% | 4.4% |
| 净利润同比 | 14.5% | 112.8% |
| 每股收益（稀释后） | — | — |
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MASTVE
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.8B | $3.0B | ||
| Q3 25 | $1.9B | $3.9B | ||
| Q2 25 | $2.1B | $3.3B | ||
| Q1 25 | $1.8B | $3.5B | ||
| Q4 24 | $1.8B | $2.9B | ||
| Q3 24 | $2.0B | $3.5B | ||
| Q2 24 | $2.1B | $2.9B |
净利润MASTVE
| Q1 26 | $228.0M | — | ||
| Q4 25 | $165.0M | $266.0M | ||
| Q3 25 | $189.0M | $615.0M | ||
| Q2 25 | $270.0M | $212.0M | ||
| Q1 25 | $186.0M | $408.0M | ||
| Q4 24 | $182.0M | $125.0M | ||
| Q3 24 | $167.0M | $520.0M | ||
| Q2 24 | $258.0M | $181.0M |
毛利率MASTVE
| 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MASTVE
| Q1 26 | 16.5% | — | ||
| Q4 25 | 13.8% | 18.1% | ||
| Q3 25 | 15.8% | 23.6% | ||
| Q2 25 | 20.1% | 15.6% | ||
| Q1 25 | 15.9% | 20.3% | ||
| Q4 24 | 15.9% | 14.1% | ||
| Q3 24 | 18.0% | 22.7% | ||
| Q2 24 | 19.0% | 15.9% |
净利率MASTVE
| Q1 26 | 11.9% | — | ||
| Q4 25 | 9.2% | 8.7% | ||
| Q3 25 | 9.9% | 15.7% | ||
| Q2 25 | 13.2% | 6.4% | ||
| Q1 25 | 10.3% | 11.6% | ||
| Q4 24 | 10.0% | 4.3% | ||
| Q3 24 | 8.4% | 14.8% | ||
| Q2 24 | 12.3% | 6.3% |
每股收益（稀释后）MASTVE
| Q1 26 | — | — | ||
| Q4 25 | $0.81 | — | ||
| Q3 25 | $0.90 | — | ||
| Q2 25 | $1.28 | — | ||
| Q1 25 | $0.87 | — | ||
| Q4 24 | $0.85 | — | ||
| Q3 24 | $0.77 | — | ||
| Q2 24 | $1.17 | — |
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 | — | $501.0M |
| 总债务越低越好 | $2.9B | — |
| 股东权益账面价值 | $27.0M | — |
| 总资产 | $5.2B | $59.5B |
| 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MASTVE
| Q1 26 | — | — | ||
| Q4 25 | $647.0M | $501.0M | ||
| Q3 25 | $559.0M | $1.6B | ||
| Q2 25 | $390.0M | $501.0M | ||
| Q1 25 | $377.0M | $502.0M | ||
| Q4 24 | $634.0M | $507.0M | ||
| Q3 24 | $646.0M | $502.0M | ||
| Q2 24 | $398.0M | $501.0M |
总债务MASTVE
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | — | ||
| Q3 25 | — | $22.1B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | — | $19.1B | ||
| Q2 24 | — | — |
股东权益MASTVE
| Q1 26 | $27.0M | — | ||
| Q4 25 | $-185.0M | — | ||
| Q3 25 | $-78.0M | — | ||
| Q2 25 | $-84.0M | — | ||
| Q1 25 | $-254.0M | — | ||
| Q4 24 | $-279.0M | — | ||
| Q3 24 | $-88.0M | — | ||
| Q2 24 | $-26.0M | — |
总资产MASTVE
| Q1 26 | $5.2B | — | ||
| Q4 25 | $5.2B | $59.5B | ||
| Q3 25 | $5.3B | $60.9B | ||
| Q2 25 | $5.3B | $59.9B | ||
| Q1 25 | $5.1B | $59.3B | ||
| Q4 24 | $5.0B | $58.4B | ||
| Q3 24 | $5.3B | $57.7B | ||
| Q2 24 | $5.4B | $56.2B |
负债/权益比MASTVE
| 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 | — | $330.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-814.0M |
| 自由现金流率自由现金流/营收 | — | -26.7% |
| 资本支出强度资本支出/营收 | 1.8% | 37.5% |
| 现金转化率经营现金流/净利润 | — | 1.24× |
| 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MASTVE
| Q1 26 | — | — | ||
| Q4 25 | $418.0M | $330.0M | ||
| Q3 25 | $456.0M | $1.2B | ||
| Q2 25 | $306.0M | $615.0M | ||
| Q1 25 | $-158.0M | $1.0B | ||
| Q4 24 | $407.0M | $450.0M | ||
| Q3 24 | $416.0M | $1.1B | ||
| Q2 24 | $346.0M | $508.0M |
自由现金流MASTVE
| Q1 26 | — | — | ||
| Q4 25 | $371.0M | $-814.0M | ||
| Q3 25 | $415.0M | $233.0M | ||
| Q2 25 | $270.0M | $-431.0M | ||
| Q1 25 | $-190.0M | $-176.0M | ||
| Q4 24 | $351.0M | $-759.0M | ||
| Q3 24 | $378.0M | $164.0M | ||
| Q2 24 | $303.0M | $-248.0M |
自由现金流率MASTVE
| Q1 26 | — | — | ||
| Q4 25 | 20.7% | -26.7% | ||
| Q3 25 | 21.6% | 6.0% | ||
| Q2 25 | 13.2% | -13.0% | ||
| Q1 25 | -10.5% | -5.0% | ||
| Q4 24 | 19.2% | -26.0% | ||
| Q3 24 | 19.1% | 4.7% | ||
| Q2 24 | 14.5% | -8.6% |
资本支出强度MASTVE
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.6% | 37.5% | ||
| Q3 25 | 2.1% | 25.9% | ||
| Q2 25 | 1.8% | 31.6% | ||
| Q1 25 | 1.8% | 33.6% | ||
| Q4 24 | 3.1% | 41.4% | ||
| Q3 24 | 1.9% | 25.6% | ||
| Q2 24 | 2.1% | 26.3% |
现金转化率MASTVE
| Q1 26 | — | — | ||
| Q4 25 | 2.53× | 1.24× | ||
| Q3 25 | 2.41× | 2.03× | ||
| Q2 25 | 1.13× | 2.90× | ||
| Q1 25 | -0.85× | 2.48× | ||
| Q4 24 | 2.24× | 3.60× | ||
| Q3 24 | 2.49× | 2.05× | ||
| Q2 24 | 1.34× | 2.81× |
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
TVE
| TN | $2.0B | 65% |
| AL | $449.0M | 15% |
| MS | $266.0M | 9% |
| KY | $193.0M | 6% |
| GA | $75.0M | 2% |
| Federal Agencies And Other | $29.0M | 1% |
| NC | $23.0M | 1% |
| VA | $12.0M | 0% |
| Off System Sales Member | $2.0M | 0% |
