vs
美泰（MAT）与百济神州（ONC）财务数据对比。点击上方公司名可切换其他公司
百济神州的季度营收约是美泰的1.7倍（$1.5B vs $862.2M），美泰净利率更高（7.1% vs 4.4%，领先2.6%），百济神州同比增速更快（32.8% vs 4.3%），百济神州自由现金流更多（$379.8M vs $-88.1M），过去两年百济神州的营收复合增速更高（41.2% vs -10.6%）
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。
BeOne Medicines（原百济神州）是一家跨国肿瘤领域制药企业，专注于癌症治疗创新药物的研发与商业化，致力于为全球癌症患者提供更有效、可及性更高的治疗方案，改善患者的生存质量与预后。
MAT vs ONC — 直观对比
营收规模更大
ONC
是对方的1.7倍
$862.2M
营收增速更快
ONC
高出28.5%
4.3%
净利率更高
MAT
高出2.6%
4.4%
自由现金流更多
ONC
多$467.9M
$-88.1M
两年增速更快
ONC
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $1.5B |
| 净利润 | $61.0M | $66.5M |
| 毛利率 | 44.9% | 90.5% |
| 营业利润率 | — | 12.4% |
| 净利率 | 7.1% | 4.4% |
| 营收同比 | 4.3% | 32.8% |
| 净利润同比 | 251.4% | 143.8% |
| 每股收益（稀释后） | $0.20 | $0.05 |
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MATONC
| Q1 26 | $862.2M | — | ||
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $1.7B | $1.4B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $826.6M | $1.1B | ||
| Q4 24 | $1.6B | $1.1B | ||
| Q3 24 | $1.8B | $1.0B | ||
| Q2 24 | $1.1B | $929.2M |
净利润MATONC
| Q1 26 | $61.0M | — | ||
| Q4 25 | $106.2M | $66.5M | ||
| Q3 25 | $278.4M | $124.8M | ||
| Q2 25 | $53.4M | $94.3M | ||
| Q1 25 | $-40.3M | $1.3M | ||
| Q4 24 | $140.9M | $-151.9M | ||
| Q3 24 | $372.4M | $-121.3M | ||
| Q2 24 | $56.9M | $-120.4M |
毛利率MATONC
| Q1 26 | 44.9% | — | ||
| Q4 25 | 45.9% | 90.5% | ||
| Q3 25 | 50.0% | 86.1% | ||
| Q2 25 | 50.9% | 87.5% | ||
| Q1 25 | 49.4% | 85.2% | ||
| Q4 24 | 50.7% | 85.8% | ||
| Q3 24 | 53.1% | 83.0% | ||
| Q2 24 | 49.2% | 85.1% |
营业利润率MATONC
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | 12.4% | ||
| Q3 25 | 21.9% | 11.5% | ||
| Q2 25 | 7.7% | 6.7% | ||
| Q1 25 | -6.4% | 1.0% | ||
| Q4 24 | 9.6% | -7.0% | ||
| Q3 24 | 26.5% | -12.0% | ||
| Q2 24 | 7.7% | -11.5% |
净利率MATONC
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.0% | 4.4% | ||
| Q3 25 | 16.0% | 8.8% | ||
| Q2 25 | 5.2% | 7.2% | ||
| Q1 25 | -4.9% | 0.1% | ||
| Q4 24 | 8.6% | -13.5% | ||
| Q3 24 | 20.2% | -12.1% | ||
| Q2 24 | 5.3% | -13.0% |
每股收益（稀释后）MATONC
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | $0.05 | ||
| Q3 25 | $0.88 | $0.08 | ||
| Q2 25 | $0.16 | $0.06 | ||
| Q1 25 | $-0.12 | $0.00 | ||
| Q4 24 | $0.40 | $-0.10 | ||
| Q3 24 | $1.09 | $-0.09 | ||
| Q2 24 | $0.17 | $-0.09 |
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 | $866.0M | $4.5B |
| 总债务越低越好 | $2.3B | $836.4M |
| 股东权益账面价值 | $2.1B | $4.4B |
| 总资产 | $6.3B | $8.2B |
| 负债/权益比越低杠杆越低 | 1.11× | 0.19× |
8季度趋势，按日历期对齐
现金及短期投资MATONC
| Q1 26 | $866.0M | — | ||
| Q4 25 | $1.2B | $4.5B | ||
| Q3 25 | $691.9M | $4.0B | ||
| Q2 25 | $870.5M | $2.8B | ||
| Q1 25 | $1.2B | $2.5B | ||
| Q4 24 | $1.4B | $2.6B | ||
| Q3 24 | $723.5M | $2.7B | ||
| Q2 24 | $722.4M | $2.6B |
总债务MATONC
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $836.4M | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.3B | — |
股东权益MATONC
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $4.4B | ||
| Q3 25 | $2.3B | $4.1B | ||
| Q2 25 | $2.2B | $3.8B | ||
| Q1 25 | $2.1B | $3.5B | ||
| Q4 24 | $2.3B | $3.3B | ||
| Q3 24 | $2.3B | $3.4B | ||
| Q2 24 | $2.0B | $3.4B |
总资产MATONC
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.6B | $8.2B | ||
| Q3 25 | $6.6B | $7.6B | ||
| Q2 25 | $6.2B | $6.3B | ||
| Q1 25 | $6.2B | $5.8B | ||
| Q4 24 | $6.5B | $5.9B | ||
| Q3 24 | $6.5B | $5.8B | ||
| Q2 24 | $5.9B | $5.7B |
负债/权益比MATONC
| Q1 26 | 1.11× | — | ||
| Q4 25 | 1.04× | 0.19× | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 1.18× | — |
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 | — | $417.3M |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | $379.8M |
| 自由现金流率自由现金流/营收 | -10.2% | 25.4% |
| 资本支出强度资本支出/营收 | 7.6% | 2.5% |
| 现金转化率经营现金流/净利润 | — | 6.28× |
| 过去12个月自由现金流最近4个季度 | — | $941.7M |
8季度趋势，按日历期对齐
经营现金流MATONC
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $417.3M | ||
| Q3 25 | $72.0M | $402.6M | ||
| Q2 25 | $-300.1M | $263.6M | ||
| Q1 25 | $24.8M | $44.1M | ||
| Q4 24 | $862.1M | $75.2M | ||
| Q3 24 | $155.8M | $188.4M | ||
| Q2 24 | $-252.9M | $-95.6M |
自由现金流MATONC
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $379.8M | ||
| Q3 25 | — | $354.5M | ||
| Q2 25 | — | $219.8M | ||
| Q1 25 | — | $-12.3M | ||
| Q4 24 | — | $-17.3M | ||
| Q3 24 | — | $54.7M | ||
| Q2 24 | — | $-205.5M |
自由现金流率MATONC
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | 25.4% | ||
| Q3 25 | — | 25.1% | ||
| Q2 25 | — | 16.7% | ||
| Q1 25 | — | -1.1% | ||
| Q4 24 | — | -1.5% | ||
| Q3 24 | — | 5.5% | ||
| Q2 24 | — | -22.1% |
资本支出强度MATONC
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 2.5% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | — | 8.2% | ||
| Q3 24 | — | 13.3% | ||
| Q2 24 | — | 11.8% |
现金转化率MATONC
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | 6.28× | ||
| Q3 25 | 0.26× | 3.22× | ||
| Q2 25 | -5.62× | 2.79× | ||
| Q1 25 | — | 34.71× | ||
| Q4 24 | 6.12× | — | ||
| Q3 24 | 0.42× | — | ||
| Q2 24 | -4.45× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
