vs
美泰（MAT）与赫曼米勒（MLKN）财务数据对比。点击上方公司名可切换其他公司
美泰的季度营收约是赫曼米勒的1.8倍（$1.8B vs $955.2M），美泰净利率更高（6.0% vs 2.5%，领先3.5%），美泰同比增速更快（7.3% vs -1.6%）
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
米勒诺尔公司以赫曼米勒之名开展业务，是美国知名办公家具、设备及家居产品制造商。其推出的埃隆椅、野口勇茶几、棉花糖沙发、米拉椅、伊姆斯休闲椅等产品享誉全球，此外该公司还在1968年研发出了现代办公隔间。
MAT vs MLKN — 直观对比
营收规模更大
MAT
是对方的1.8倍
$955.2M
营收增速更快
MAT
高出8.9%
-1.6%
净利率更高
MAT
高出3.5%
2.5%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $955.2M |
| 净利润 | $106.2M | $24.2M |
| 毛利率 | 45.9% | 39.0% |
| 营业利润率 | 8.0% | 5.1% |
| 净利率 | 6.0% | 2.5% |
| 营收同比 | 7.3% | -1.6% |
| 净利润同比 | -24.6% | -29.0% |
| 每股收益（稀释后） | $0.32 | $0.35 |
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MATMLKN
| Q4 25 | $1.8B | $955.2M | ||
| Q3 25 | $1.7B | $955.7M | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $826.6M | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $809.5M | — |
净利润MATMLKN
| Q4 25 | $106.2M | $24.2M | ||
| Q3 25 | $278.4M | $20.2M | ||
| Q2 25 | $53.4M | — | ||
| Q1 25 | $-40.3M | — | ||
| Q4 24 | $140.9M | — | ||
| Q3 24 | $372.4M | — | ||
| Q2 24 | $56.9M | — | ||
| Q1 24 | $-28.3M | — |
毛利率MATMLKN
| Q4 25 | 45.9% | 39.0% | ||
| Q3 25 | 50.0% | 38.5% | ||
| Q2 25 | 50.9% | — | ||
| Q1 25 | 49.4% | — | ||
| Q4 24 | 50.7% | — | ||
| Q3 24 | 53.1% | — | ||
| Q2 24 | 49.2% | — | ||
| Q1 24 | 48.0% | — |
营业利润率MATMLKN
| Q4 25 | 8.0% | 5.1% | ||
| Q3 25 | 21.9% | 5.6% | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | -6.4% | — | ||
| Q4 24 | 9.6% | — | ||
| Q3 24 | 26.5% | — | ||
| Q2 24 | 7.7% | — | ||
| Q1 24 | -4.4% | — |
净利率MATMLKN
| Q4 25 | 6.0% | 2.5% | ||
| Q3 25 | 16.0% | 2.1% | ||
| Q2 25 | 5.2% | — | ||
| Q1 25 | -4.9% | — | ||
| Q4 24 | 8.6% | — | ||
| Q3 24 | 20.2% | — | ||
| Q2 24 | 5.3% | — | ||
| Q1 24 | -3.5% | — |
每股收益（稀释后）MATMLKN
| Q4 25 | $0.32 | $0.35 | ||
| Q3 25 | $0.88 | $0.29 | ||
| Q2 25 | $0.16 | — | ||
| Q1 25 | $-0.12 | — | ||
| Q4 24 | $0.40 | — | ||
| Q3 24 | $1.09 | — | ||
| Q2 24 | $0.17 | — | ||
| Q1 24 | $-0.08 | — |
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 | $1.2B | $180.4M |
| 总债务越低越好 | $2.3B | $1.3B |
| 股东权益账面价值 | $2.2B | $1.3B |
| 总资产 | $6.6B | $3.9B |
| 负债/权益比越低杠杆越低 | 1.04× | 1.02× |
8季度趋势，按日历期对齐
现金及短期投资MATMLKN
| Q4 25 | $1.2B | $180.4M | ||
| Q3 25 | $691.9M | $167.2M | ||
| Q2 25 | $870.5M | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $723.5M | — | ||
| Q2 24 | $722.4M | — | ||
| Q1 24 | $1.1B | — |
总债务MATMLKN
| Q4 25 | $2.3B | $1.3B | ||
| Q3 25 | $2.3B | $1.3B | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | $2.3B | — |
股东权益MATMLKN
| Q4 25 | $2.2B | $1.3B | ||
| Q3 25 | $2.3B | $1.3B | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $2.0B | — |
总资产MATMLKN
| Q4 25 | $6.6B | $3.9B | ||
| Q3 25 | $6.6B | $3.9B | ||
| Q2 25 | $6.2B | — | ||
| Q1 25 | $6.2B | — | ||
| Q4 24 | $6.5B | — | ||
| Q3 24 | $6.5B | — | ||
| Q2 24 | $5.9B | — | ||
| Q1 24 | $6.1B | — |
负债/权益比MATMLKN
| Q4 25 | 1.04× | 1.02× | ||
| Q3 25 | 1.03× | 1.02× | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 1.18× | — | ||
| Q1 24 | 1.15× | — |
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 | $796.6M | $64.6M |
| 自由现金流经营现金流 - 资本支出 | — | $34.0M |
| 自由现金流率自由现金流/营收 | — | 3.6% |
| 资本支出强度资本支出/营收 | — | 3.2% |
| 现金转化率经营现金流/净利润 | 7.50× | 2.67× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流MATMLKN
| Q4 25 | $796.6M | $64.6M | ||
| Q3 25 | $72.0M | $9.4M | ||
| Q2 25 | $-300.1M | — | ||
| Q1 25 | $24.8M | — | ||
| Q4 24 | $862.1M | — | ||
| Q3 24 | $155.8M | — | ||
| Q2 24 | $-252.9M | — | ||
| Q1 24 | $35.5M | — |
自由现金流MATMLKN
| Q4 25 | — | $34.0M | ||
| Q3 25 | — | $-21.3M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率MATMLKN
| Q4 25 | — | 3.6% | ||
| Q3 25 | — | -2.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度MATMLKN
| Q4 25 | — | 3.2% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率MATMLKN
| Q4 25 | 7.50× | 2.67× | ||
| Q3 25 | 0.26× | 0.47× | ||
| Q2 25 | -5.62× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.12× | — | ||
| Q3 24 | 0.42× | — | ||
| Q2 24 | -4.45× | — | ||
| Q1 24 | — | — |
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
MAT
| North America Segment | $1.0B | 58% |
| International Segment | $745.6M | 42% |
MLKN
| Workplace | $309.9M | 32% |
| Global Retail Segment | $275.8M | 29% |
| International Contract Segment | $170.9M | 18% |
| Performance Seating | $101.1M | 11% |
| Lifestyle | $52.9M | 6% |
| Other Products | $44.6M | 5% |
