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迈心诺（MASI）与MARTIN MIDSTREAM PARTNERS L.P.（MMLP）财务数据对比。点击上方公司名可切换其他公司
迈心诺的季度营收约是MARTIN MIDSTREAM PARTNERS L.P.的2.0倍（$371.5M vs $187.7M），MARTIN MIDSTREAM PARTNERS L.P.净利率更高（1.7% vs -27.0%，领先28.7%），MARTIN MIDSTREAM PARTNERS L.P.同比增速更快（-2.5% vs -26.4%），迈心诺自由现金流更多（$50.9M vs $-6.0M），过去两年MARTIN MIDSTREAM PARTNERS L.P.的营收复合增速更高（0.8% vs -17.7%）
迈心诺（Masimo Corporation）是总部位于美国加利福尼亚州尔湾的健康科技及消费电子企业，核心产品包括面向医院及家用场景的患者监护设备、无创传感器及配套软件平台，同时也布局了消费级音频和可穿戴设备赛道。
Martin Midstream Partners L.P.是美国中游能源服务提供商，主营原油、天然气液、精炼石油产品及特种化学品的存储、运输、分销与加工服务，主要服务北美能源及工业领域客户。
MASI vs MMLP — 直观对比
营收规模更大
MASI
是对方的2.0倍
$187.7M
营收增速更快
MMLP
高出23.8%
-26.4%
净利率更高
MMLP
高出28.7%
-27.0%
自由现金流更多
MASI
多$56.9M
$-6.0M
两年增速更快
MMLP
近两年复合增速
-17.7%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $371.5M | $187.7M |
| 净利润 | $-100.4M | $3.2M |
| 毛利率 | 62.1% | — |
| 营业利润率 | 22.5% | 4.1% |
| 净利率 | -27.0% | 1.7% |
| 营收同比 | -26.4% | -2.5% |
| 净利润同比 | -1124.5% | -37.1% |
| 每股收益（稀释后） | $-1.84 | — |
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MASIMMLP
| Q1 26 | — | $187.7M | ||
| Q4 25 | — | $174.2M | ||
| Q3 25 | $371.5M | $168.7M | ||
| Q2 25 | $370.9M | $180.7M | ||
| Q1 25 | $372.0M | $192.5M | ||
| Q4 24 | $600.7M | $171.3M | ||
| Q3 24 | $504.6M | $170.9M | ||
| Q2 24 | $496.3M | $184.5M |
净利润MASIMMLP
| Q1 26 | — | $3.2M | ||
| Q4 25 | — | $-2.9M | ||
| Q3 25 | $-100.4M | $-8.4M | ||
| Q2 25 | $51.3M | $-2.4M | ||
| Q1 25 | $-170.7M | $-1.0M | ||
| Q4 24 | $-349.6M | $-8.9M | ||
| Q3 24 | $9.8M | $-3.3M | ||
| Q2 24 | $16.0M | $3.8M |
毛利率MASIMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | 57.1% | ||
| Q3 25 | 62.1% | 55.1% | ||
| Q2 25 | 62.9% | 56.5% | ||
| Q1 25 | 62.9% | 53.5% | ||
| Q4 24 | 40.7% | 58.2% | ||
| Q3 24 | 52.2% | 58.5% | ||
| Q2 24 | 51.3% | 58.4% |
营业利润率MASIMMLP
| Q1 26 | — | 4.1% | ||
| Q4 25 | — | 7.3% | ||
| Q3 25 | 22.5% | 4.1% | ||
| Q2 25 | 17.4% | 8.2% | ||
| Q1 25 | 21.0% | 7.5% | ||
| Q4 24 | -59.8% | 4.0% | ||
| Q3 24 | 6.0% | 7.4% | ||
| Q2 24 | 5.7% | 10.8% |
净利率MASIMMLP
| Q1 26 | — | 1.7% | ||
| Q4 25 | — | -1.7% | ||
| Q3 25 | -27.0% | -5.0% | ||
| Q2 25 | 13.8% | -1.3% | ||
| Q1 25 | -45.9% | -0.5% | ||
| Q4 24 | -58.2% | -5.2% | ||
| Q3 24 | 1.9% | -1.9% | ||
| Q2 24 | 3.2% | 2.0% |
每股收益（稀释后）MASIMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $-1.84 | — | ||
| Q2 25 | $0.94 | — | ||
| Q1 25 | $-3.12 | — | ||
| Q4 24 | $-6.54 | — | ||
| Q3 24 | $0.18 | — | ||
| Q2 24 | $0.29 | — |
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 | $312.3M | — |
| 总债务越低越好 | $559.1M | — |
| 股东权益账面价值 | $810.0M | — |
| 总资产 | $1.8B | $537.1M |
| 负债/权益比越低杠杆越低 | 0.69× | — |
8季度趋势，按日历期对齐
现金及短期投资MASIMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $312.3M | — | ||
| Q2 25 | $149.6M | — | ||
| Q1 25 | $130.8M | — | ||
| Q4 24 | $177.6M | — | ||
| Q3 24 | $158.5M | — | ||
| Q2 24 | $129.6M | — |
总债务MASIMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | $428.0M | ||
| Q3 25 | $559.1M | $441.3M | ||
| Q2 25 | $613.7M | $427.8M | ||
| Q1 25 | $651.0M | $451.4M | ||
| Q4 24 | $765.2M | $437.6M | ||
| Q3 24 | $772.6M | $469.3M | ||
| Q2 24 | $781.6M | $439.4M |
股东权益MASIMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $810.0M | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $946.4M | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.4B | — |
总资产MASIMMLP
| Q1 26 | — | $537.1M | ||
| Q4 25 | — | $522.4M | ||
| Q3 25 | $1.8B | $510.1M | ||
| Q2 25 | $2.4B | $515.6M | ||
| Q1 25 | $2.3B | $533.4M | ||
| Q4 24 | $2.6B | $538.5M | ||
| Q3 24 | $3.1B | $554.8M | ||
| Q2 24 | $2.9B | $535.1M |
负债/权益比MASIMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.69× | — | ||
| Q2 25 | 0.59× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 0.57× | — |
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 | $56.8M | — |
| 自由现金流经营现金流 - 资本支出 | $50.9M | $-6.0M |
| 自由现金流率自由现金流/营收 | 13.7% | -3.2% |
| 资本支出强度资本支出/营收 | 1.6% | 1.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $191.0M | $27.2M |
8季度趋势，按日历期对齐
经营现金流MASIMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | $22.4M | ||
| Q3 25 | $56.8M | $-1.2M | ||
| Q2 25 | $69.4M | $30.9M | ||
| Q1 25 | $31.1M | $-6.0M | ||
| Q4 24 | $50.5M | $42.2M | ||
| Q3 24 | $25.6M | $-15.8M | ||
| Q2 24 | $74.5M | $11.8M |
自由现金流MASIMMLP
| Q1 26 | — | $-6.0M | ||
| Q4 25 | — | $15.6M | ||
| Q3 25 | $50.9M | $-7.9M | ||
| Q2 25 | $65.6M | $25.6M | ||
| Q1 25 | $28.5M | $-11.9M | ||
| Q4 24 | $46.0M | $34.2M | ||
| Q3 24 | $16.9M | $-25.6M | ||
| Q2 24 | $66.9M | $-696.0K |
自由现金流率MASIMMLP
| Q1 26 | — | -3.2% | ||
| Q4 25 | — | 8.9% | ||
| Q3 25 | 13.7% | -4.7% | ||
| Q2 25 | 17.7% | 14.2% | ||
| Q1 25 | 7.7% | -6.2% | ||
| Q4 24 | 7.7% | 20.0% | ||
| Q3 24 | 3.3% | -15.0% | ||
| Q2 24 | 13.5% | -0.4% |
资本支出强度MASIMMLP
| Q1 26 | — | 1.6% | ||
| Q4 25 | — | 3.9% | ||
| Q3 25 | 1.6% | 4.0% | ||
| Q2 25 | 1.0% | 3.0% | ||
| Q1 25 | 0.7% | 3.1% | ||
| Q4 24 | 0.7% | 4.6% | ||
| Q3 24 | 1.7% | 5.8% | ||
| Q2 24 | 1.5% | 6.8% |
现金转化率MASIMMLP
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.35× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.61× | — | ||
| Q2 24 | 4.66× | 3.13× |
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
MASI
暂无分部数据
MMLP
| Specialty products | $61.6M | 33% |
| Transportation * | $52.8M | 28% |
| Other | $46.5M | 25% |
| Terminalling and storage * | $22.4M | 12% |
| Sulfur services | $4.4M | 2% |
