vs
美泰（MAT）与NVR, Inc.（NVR）财务数据对比。点击上方公司名可切换其他公司
NVR, Inc.的季度营收约是美泰的1.5倍（$2.7B vs $1.8B），NVR, Inc.净利率更高（13.4% vs 6.0%，领先7.4%），美泰同比增速更快（7.3% vs -4.7%），过去两年美泰的营收复合增速更高（47.7% vs 7.8%）
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。
NVR, Inc.是总部位于美国弗吉尼亚州雷斯顿的知名住宅建造企业，同时运营抵押贷款银行及产权服务相关业务。公司业务主要布局美国东海岸，覆盖14个州及华盛顿特区，2021年有22%的营收来自华盛顿大都会区。
MAT vs NVR — 直观对比
营收规模更大
NVR
是对方的1.5倍
$1.8B
营收增速更快
MAT
高出12.0%
-4.7%
净利率更高
NVR
高出7.4%
6.0%
两年增速更快
MAT
近两年复合增速
7.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $2.7B |
| 净利润 | $106.2M | $363.8M |
| 毛利率 | 45.9% | — |
| 营业利润率 | 8.0% | — |
| 净利率 | 6.0% | 13.4% |
| 营收同比 | 7.3% | -4.7% |
| 净利润同比 | -24.6% | -20.5% |
| 每股收益（稀释后） | $0.32 | $120.85 |
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MATNVR
| Q4 25 | $1.8B | $2.7B | ||
| Q3 25 | $1.7B | $2.6B | ||
| Q2 25 | $1.0B | $2.6B | ||
| Q1 25 | $826.6M | $2.4B | ||
| Q4 24 | $1.6B | $2.8B | ||
| Q3 24 | $1.8B | $2.7B | ||
| Q2 24 | $1.1B | $2.6B | ||
| Q1 24 | $809.5M | $2.3B |
净利润MATNVR
| Q4 25 | $106.2M | $363.8M | ||
| Q3 25 | $278.4M | $342.7M | ||
| Q2 25 | $53.4M | $333.7M | ||
| Q1 25 | $-40.3M | $299.6M | ||
| Q4 24 | $140.9M | $457.4M | ||
| Q3 24 | $372.4M | $429.3M | ||
| Q2 24 | $56.9M | $400.9M | ||
| Q1 24 | $-28.3M | $394.3M |
毛利率MATNVR
| Q4 25 | 45.9% | — | ||
| Q3 25 | 50.0% | — | ||
| 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MATNVR
| Q4 25 | 8.0% | — | ||
| Q3 25 | 21.9% | — | ||
| 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MATNVR
| Q4 25 | 6.0% | 13.4% | ||
| Q3 25 | 16.0% | 13.1% | ||
| Q2 25 | 5.2% | 12.8% | ||
| Q1 25 | -4.9% | 12.5% | ||
| Q4 24 | 8.6% | 16.1% | ||
| Q3 24 | 20.2% | 15.7% | ||
| Q2 24 | 5.3% | 15.3% | ||
| Q1 24 | -3.5% | 16.9% |
每股收益（稀释后）MATNVR
| Q4 25 | $0.32 | $120.85 | ||
| Q3 25 | $0.88 | $112.33 | ||
| Q2 25 | $0.16 | $108.54 | ||
| Q1 25 | $-0.12 | $94.83 | ||
| Q4 24 | $0.40 | $139.09 | ||
| Q3 24 | $1.09 | $130.50 | ||
| Q2 24 | $0.17 | $120.69 | ||
| Q1 24 | $-0.08 | $116.41 |
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 | — |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | $2.2B | $3.9B |
| 总资产 | $6.6B | $5.9B |
| 负债/权益比越低杠杆越低 | 1.04× | — |
8季度趋势，按日历期对齐
现金及短期投资MATNVR
| Q4 25 | $1.2B | — | ||
| Q3 25 | $691.9M | — | ||
| 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MATNVR
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.3B | — | ||
| 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MATNVR
| Q4 25 | $2.2B | $3.9B | ||
| Q3 25 | $2.3B | $4.0B | ||
| Q2 25 | $2.2B | $3.8B | ||
| Q1 25 | $2.1B | $4.0B | ||
| Q4 24 | $2.3B | $4.2B | ||
| Q3 24 | $2.3B | $4.3B | ||
| Q2 24 | $2.0B | $4.1B | ||
| Q1 24 | $2.0B | $4.3B |
总资产MATNVR
| Q4 25 | $6.6B | $5.9B | ||
| Q3 25 | $6.6B | $6.0B | ||
| Q2 25 | $6.2B | $5.9B | ||
| Q1 25 | $6.2B | $6.2B | ||
| Q4 24 | $6.5B | $6.4B | ||
| Q3 24 | $6.5B | $6.5B | ||
| Q2 24 | $5.9B | $6.4B | ||
| Q1 24 | $6.1B | $6.5B |
负债/权益比MATNVR
| Q4 25 | 1.04× | — | ||
| Q3 25 | 1.03× | — | ||
| 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 | $439.7M |
| 自由现金流经营现金流 - 资本支出 | — | $436.0M |
| 自由现金流率自由现金流/营收 | — | 16.1% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 现金转化率经营现金流/净利润 | 7.50× | 1.21× |
| 过去12个月自由现金流最近4个季度 | — | $1.1B |
8季度趋势，按日历期对齐
经营现金流MATNVR
| Q4 25 | $796.6M | $439.7M | ||
| Q3 25 | $72.0M | $438.7M | ||
| Q2 25 | $-300.1M | $35.1M | ||
| Q1 25 | $24.8M | $207.8M | ||
| Q4 24 | $862.1M | $637.0M | ||
| Q3 24 | $155.8M | $358.3M | ||
| Q2 24 | $-252.9M | $232.7M | ||
| Q1 24 | $35.5M | $146.5M |
自由现金流MATNVR
| Q4 25 | — | $436.0M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $26.8M | ||
| Q1 25 | — | $200.7M | ||
| Q4 24 | — | $631.5M | ||
| Q3 24 | — | $350.1M | ||
| Q2 24 | — | $226.3M | ||
| Q1 24 | — | $137.5M |
自由现金流率MATNVR
| Q4 25 | — | 16.1% | ||
| Q3 25 | — | 16.6% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 8.4% | ||
| Q4 24 | — | 22.2% | ||
| Q3 24 | — | 12.8% | ||
| Q2 24 | — | 8.7% | ||
| Q1 24 | — | 5.9% |
资本支出强度MATNVR
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.4% |
现金转化率MATNVR
| Q4 25 | 7.50× | 1.21× | ||
| Q3 25 | 0.26× | 1.28× | ||
| Q2 25 | -5.62× | 0.11× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | 6.12× | 1.39× | ||
| Q3 24 | 0.42× | 0.83× | ||
| Q2 24 | -4.45× | 0.58× | ||
| Q1 24 | — | 0.37× |
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% |
NVR
| Home Building Segment | $2.6B | 97% |
| Mortgage Banking Segment | $77.4M | 3% |
