vs
美泰（MAT）与Opendoor Technologies Inc.（OPEN）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Opendoor Technologies Inc.的1.2倍（$862.2M vs $736.0M），美泰净利率更高（7.1% vs -148.9%，领先156.0%），美泰同比增速更快（4.3% vs -32.1%），Opendoor Technologies Inc.自由现金流更多（$67.0M vs $-88.1M），过去两年美泰的营收复合增速更高（-10.6% vs -21.1%）
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。
Opendoor Technologies Inc.是一家主营住宅房地产买卖的线上企业，总部位于旧金山。平台可通过线上流程向房主提供房屋即时现金报价，收购房产后进行修缮再重新挂牌出售，同时还提供基于移动端应用的购房服务及配套融资方案，截至2021年11月业务覆盖美国44个区域市场。
MAT vs OPEN — 直观对比
营收规模更大
MAT
是对方的1.2倍
$736.0M
营收增速更快
MAT
高出36.4%
-32.1%
净利率更高
MAT
高出156.0%
-148.9%
自由现金流更多
OPEN
多$155.1M
$-88.1M
两年增速更快
MAT
近两年复合增速
-21.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $736.0M |
| 净利润 | $61.0M | $-1.1B |
| 毛利率 | 44.9% | 7.7% |
| 营业利润率 | — | -20.4% |
| 净利率 | 7.1% | -148.9% |
| 营收同比 | 4.3% | -32.1% |
| 净利润同比 | 251.4% | -869.9% |
| 每股收益（稀释后） | $0.20 | $-1.42 |
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MATOPEN
| Q1 26 | $862.2M | — | ||
| Q4 25 | $1.8B | $736.0M | ||
| Q3 25 | $1.7B | $915.0M | ||
| Q2 25 | $1.0B | $1.6B | ||
| Q1 25 | $826.6M | $1.2B | ||
| Q4 24 | $1.6B | $1.1B | ||
| Q3 24 | $1.8B | $1.4B | ||
| Q2 24 | $1.1B | $1.5B |
净利润MATOPEN
| Q1 26 | $61.0M | — | ||
| Q4 25 | $106.2M | $-1.1B | ||
| Q3 25 | $278.4M | $-90.0M | ||
| Q2 25 | $53.4M | $-29.0M | ||
| Q1 25 | $-40.3M | $-85.0M | ||
| Q4 24 | $140.9M | $-113.0M | ||
| Q3 24 | $372.4M | $-78.0M | ||
| Q2 24 | $56.9M | $-92.0M |
毛利率MATOPEN
| Q1 26 | 44.9% | — | ||
| Q4 25 | 45.9% | 7.7% | ||
| Q3 25 | 50.0% | 7.2% | ||
| Q2 25 | 50.9% | 8.2% | ||
| Q1 25 | 49.4% | 8.6% | ||
| Q4 24 | 50.7% | 7.8% | ||
| Q3 24 | 53.1% | 7.6% | ||
| Q2 24 | 49.2% | 8.5% |
营业利润率MATOPEN
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | -20.4% | ||
| Q3 25 | 21.9% | -7.4% | ||
| Q2 25 | 7.7% | -0.8% | ||
| Q1 25 | -6.4% | -4.9% | ||
| Q4 24 | 9.6% | -8.7% | ||
| Q3 24 | 26.5% | -4.9% | ||
| Q2 24 | 7.7% | -4.8% |
净利率MATOPEN
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.0% | -148.9% | ||
| Q3 25 | 16.0% | -9.8% | ||
| Q2 25 | 5.2% | -1.9% | ||
| Q1 25 | -4.9% | -7.4% | ||
| Q4 24 | 8.6% | -10.4% | ||
| Q3 24 | 20.2% | -5.7% | ||
| Q2 24 | 5.3% | -6.1% |
每股收益（稀释后）MATOPEN
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | $-1.42 | ||
| Q3 25 | $0.88 | $-0.12 | ||
| Q2 25 | $0.16 | $-0.04 | ||
| Q1 25 | $-0.12 | $-0.12 | ||
| Q4 24 | $0.40 | $-0.16 | ||
| Q3 24 | $1.09 | $-0.11 | ||
| Q2 24 | $0.17 | $-0.13 |
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 | $962.0M |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | $2.1B | $1.0B |
| 总资产 | $6.3B | $2.4B |
| 负债/权益比越低杠杆越低 | 1.11× | — |
8季度趋势，按日历期对齐
现金及短期投资MATOPEN
| Q1 26 | $866.0M | — | ||
| Q4 25 | $1.2B | $962.0M | ||
| Q3 25 | $691.9M | $962.0M | ||
| Q2 25 | $870.5M | $789.0M | ||
| Q1 25 | $1.2B | $559.0M | ||
| Q4 24 | $1.4B | $679.0M | ||
| Q3 24 | $723.5M | $837.0M | ||
| Q2 24 | $722.4M | $809.0M |
总债务MATOPEN
| Q1 26 | $2.3B | — | ||
| 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 | — |
股东权益MATOPEN
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $1.0B | ||
| Q3 25 | $2.3B | $811.0M | ||
| Q2 25 | $2.2B | $631.0M | ||
| Q1 25 | $2.1B | $645.0M | ||
| Q4 24 | $2.3B | $713.0M | ||
| Q3 24 | $2.3B | $801.0M | ||
| Q2 24 | $2.0B | $845.0M |
总资产MATOPEN
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.6B | $2.4B | ||
| Q3 25 | $6.6B | $2.7B | ||
| Q2 25 | $6.2B | $2.9B | ||
| Q1 25 | $6.2B | $3.3B | ||
| Q4 24 | $6.5B | $3.1B | ||
| Q3 24 | $6.5B | $3.4B | ||
| Q2 24 | $5.9B | $3.4B |
负债/权益比MATOPEN
| Q1 26 | 1.11× | — | ||
| 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× | — |
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 | — | $70.0M |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | $67.0M |
| 自由现金流率自由现金流/营收 | -10.2% | 9.1% |
| 资本支出强度资本支出/营收 | 7.6% | 0.4% |
| 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 | — | $1.0B |
8季度趋势，按日历期对齐
经营现金流MATOPEN
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $70.0M | ||
| Q3 25 | $72.0M | $435.0M | ||
| Q2 25 | $-300.1M | $823.0M | ||
| Q1 25 | $24.8M | $-279.0M | ||
| Q4 24 | $862.1M | $-80.0M | ||
| Q3 24 | $155.8M | $62.0M | ||
| Q2 24 | $-252.9M | $-399.0M |
自由现金流MATOPEN
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $67.0M | ||
| Q3 25 | — | $432.0M | ||
| Q2 25 | — | $821.0M | ||
| Q1 25 | — | $-283.0M | ||
| Q4 24 | — | $-83.0M | ||
| Q3 24 | — | $56.0M | ||
| Q2 24 | — | $-407.0M |
自由现金流率MATOPEN
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | 9.1% | ||
| Q3 25 | — | 47.2% | ||
| Q2 25 | — | 52.4% | ||
| Q1 25 | — | -24.5% | ||
| Q4 24 | — | -7.7% | ||
| Q3 24 | — | 4.1% | ||
| Q2 24 | — | -26.9% |
资本支出强度MATOPEN
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.5% |
现金转化率MATOPEN
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | — | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | -5.62× | — | ||
| Q1 25 | — | — | ||
| 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
