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美泰（MAT）与OLD REPUBLIC INTERNATIONAL CORP（ORI）财务数据对比。点击上方公司名可切换其他公司
OLD REPUBLIC INTERNATIONAL CORP的季度营收约是美泰的1.4倍（$2.4B vs $1.8B），OLD REPUBLIC INTERNATIONAL CORP净利率更高（13.8% vs 6.0%，领先7.7%），美泰同比增速更快（7.3% vs 6.7%），过去两年美泰的营收复合增速更高（47.7% vs 13.2%）
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。
Old Republic International Corp是一家总部位于美国伊利诺伊州芝加哥的保险企业，核心业务覆盖财产保险、产权保险两大领域，深耕行业多年，具备成熟的风险防控能力与完善的服务体系，可为各类客户提供专业可靠的保险产品及相关解决方案。
MAT vs ORI — 直观对比
营收规模更大
ORI
是对方的1.4倍
$1.8B
营收增速更快
MAT
高出0.6%
6.7%
净利率更高
ORI
高出7.7%
6.0%
两年增速更快
MAT
近两年复合增速
13.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $2.4B |
| 净利润 | $106.2M | $330.0M |
| 毛利率 | 45.9% | — |
| 营业利润率 | 8.0% | — |
| 净利率 | 6.0% | 13.8% |
| 营收同比 | 7.3% | 6.7% |
| 净利润同比 | -24.6% | 34.7% |
| 每股收益（稀释后） | $0.32 | — |
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MATORI
| Q1 26 | — | $2.4B | ||
| Q4 25 | $1.8B | $2.4B | ||
| Q3 25 | $1.7B | $2.4B | ||
| Q2 25 | $1.0B | $2.2B | ||
| Q1 25 | $826.6M | $2.1B | ||
| Q4 24 | $1.6B | $2.0B | ||
| Q3 24 | $1.8B | $2.3B | ||
| Q2 24 | $1.1B | $1.9B |
净利润MATORI
| Q1 26 | — | $330.0M | ||
| Q4 25 | $106.2M | $206.5M | ||
| Q3 25 | $278.4M | $279.5M | ||
| Q2 25 | $53.4M | $204.4M | ||
| Q1 25 | $-40.3M | $245.0M | ||
| Q4 24 | $140.9M | $105.3M | ||
| Q3 24 | $372.4M | $338.9M | ||
| Q2 24 | $56.9M | $91.8M |
毛利率MATORI
| Q1 26 | — | — | ||
| 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% | — |
营业利润率MATORI
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | — | ||
| Q3 25 | 21.9% | 14.6% | ||
| Q2 25 | 7.7% | 11.8% | ||
| Q1 25 | -6.4% | 14.6% | ||
| Q4 24 | 9.6% | — | ||
| Q3 24 | 26.5% | 18.2% | ||
| Q2 24 | 7.7% | 6.1% |
净利率MATORI
| Q1 26 | — | 13.8% | ||
| Q4 25 | 6.0% | 8.6% | ||
| Q3 25 | 16.0% | 11.5% | ||
| Q2 25 | 5.2% | 9.3% | ||
| Q1 25 | -4.9% | 11.6% | ||
| Q4 24 | 8.6% | 5.3% | ||
| Q3 24 | 20.2% | 14.5% | ||
| Q2 24 | 5.3% | 4.9% |
每股收益（稀释后）MATORI
| Q1 26 | — | — | ||
| Q4 25 | $0.32 | $0.82 | ||
| Q3 25 | $0.88 | $1.11 | ||
| Q2 25 | $0.16 | $0.81 | ||
| Q1 25 | $-0.12 | $0.98 | ||
| Q4 24 | $0.40 | $0.42 | ||
| Q3 24 | $1.09 | $1.32 | ||
| Q2 24 | $0.17 | $0.35 |
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 | $5.9M |
| 总资产 | $6.6B | $29.6M |
| 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MATORI
| Q1 26 | — | — | ||
| 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 | — |
总债务MATORI
| Q1 26 | — | — | ||
| 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MATORI
| Q1 26 | — | $5.9M | ||
| Q4 25 | $2.2B | $5.9B | ||
| Q3 25 | $2.3B | $6.4B | ||
| Q2 25 | $2.2B | $6.2B | ||
| Q1 25 | $2.1B | $5.9B | ||
| Q4 24 | $2.3B | $5.6B | ||
| Q3 24 | $2.3B | $6.4B | ||
| Q2 24 | $2.0B | $6.0B |
总资产MATORI
| Q1 26 | — | $29.6M | ||
| Q4 25 | $6.6B | $29.9B | ||
| Q3 25 | $6.6B | $30.3B | ||
| Q2 25 | $6.2B | $29.3B | ||
| Q1 25 | $6.2B | $28.0B | ||
| Q4 24 | $6.5B | $27.8B | ||
| Q3 24 | $6.5B | $28.8B | ||
| Q2 24 | $5.9B | $27.5B |
负债/权益比MATORI
| Q1 26 | — | — | ||
| 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 | $796.6M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 7.50× | — |
| 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MATORI
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $234.9M | ||
| Q3 25 | $72.0M | $563.9M | ||
| Q2 25 | $-300.1M | $133.8M | ||
| Q1 25 | $24.8M | $231.7M | ||
| Q4 24 | $862.1M | $361.7M | ||
| Q3 24 | $155.8M | $474.8M | ||
| Q2 24 | $-252.9M | $236.5M |
现金转化率MATORI
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | 1.14× | ||
| Q3 25 | 0.26× | 2.02× | ||
| Q2 25 | -5.62× | 0.65× | ||
| Q1 25 | — | 0.95× | ||
| Q4 24 | 6.12× | 3.43× | ||
| Q3 24 | 0.42× | 1.40× | ||
| Q2 24 | -4.45× | 2.58× |
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% |
ORI
| operating | $2.2B | 92% |
| Other | $201.8M | 8% |
