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美泰（MAT）与Primoris Services Corp（PRIM）财务数据对比。点击上方公司名可切换其他公司
Primoris Services Corp的季度营收约是美泰的1.1倍（$1.9B vs $1.8B），美泰净利率更高（6.0% vs 2.8%，领先3.2%），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 14.7%）
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。
Primoris Services Corp是总部位于美国的上市专业基建与工程建设企业，核心业务覆盖天然气管道、污水管网及供水管道建设领域，2014年入选《财富》1000强榜单，在北美能源及民生基建领域拥有丰富的项目运营经验。
MAT vs PRIM — 直观对比
营收规模更大
PRIM
是对方的1.1倍
$1.8B
营收增速更快
MAT
高出0.6%
6.7%
净利率更高
MAT
高出3.2%
2.8%
两年增速更快
MAT
近两年复合增速
14.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.9B |
| 净利润 | $106.2M | $51.7M |
| 毛利率 | 45.9% | 9.4% |
| 营业利润率 | 8.0% | 4.2% |
| 净利率 | 6.0% | 2.8% |
| 营收同比 | 7.3% | 6.7% |
| 净利润同比 | -24.6% | -4.2% |
| 每股收益（稀释后） | $0.32 | $0.94 |
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MATPRIM
| Q4 25 | $1.8B | $1.9B | ||
| Q3 25 | $1.7B | $2.2B | ||
| Q2 25 | $1.0B | $1.9B | ||
| Q1 25 | $826.6M | $1.6B | ||
| Q4 24 | $1.6B | $1.7B | ||
| Q3 24 | $1.8B | $1.6B | ||
| Q2 24 | $1.1B | $1.6B | ||
| Q1 24 | $809.5M | $1.4B |
净利润MATPRIM
| Q4 25 | $106.2M | $51.7M | ||
| Q3 25 | $278.4M | $94.6M | ||
| Q2 25 | $53.4M | $84.3M | ||
| Q1 25 | $-40.3M | $44.2M | ||
| Q4 24 | $140.9M | $54.0M | ||
| Q3 24 | $372.4M | $58.4M | ||
| Q2 24 | $56.9M | $49.5M | ||
| Q1 24 | $-28.3M | $18.9M |
毛利率MATPRIM
| Q4 25 | 45.9% | 9.4% | ||
| Q3 25 | 50.0% | 10.8% | ||
| Q2 25 | 50.9% | 12.3% | ||
| Q1 25 | 49.4% | 10.4% | ||
| Q4 24 | 50.7% | 10.6% | ||
| Q3 24 | 53.1% | 12.0% | ||
| Q2 24 | 49.2% | 11.9% | ||
| Q1 24 | 48.0% | 9.4% |
营业利润率MATPRIM
| Q4 25 | 8.0% | 4.2% | ||
| Q3 25 | 21.9% | 6.3% | ||
| Q2 25 | 7.7% | 6.7% | ||
| Q1 25 | -6.4% | 4.3% | ||
| Q4 24 | 9.6% | 5.0% | ||
| Q3 24 | 26.5% | 6.0% | ||
| Q2 24 | 7.7% | 5.5% | ||
| Q1 24 | -4.4% | 3.1% |
净利率MATPRIM
| Q4 25 | 6.0% | 2.8% | ||
| Q3 25 | 16.0% | 4.3% | ||
| Q2 25 | 5.2% | 4.5% | ||
| Q1 25 | -4.9% | 2.7% | ||
| Q4 24 | 8.6% | 3.1% | ||
| Q3 24 | 20.2% | 3.5% | ||
| Q2 24 | 5.3% | 3.2% | ||
| Q1 24 | -3.5% | 1.3% |
每股收益（稀释后）MATPRIM
| Q4 25 | $0.32 | $0.94 | ||
| Q3 25 | $0.88 | $1.73 | ||
| Q2 25 | $0.16 | $1.54 | ||
| Q1 25 | $-0.12 | $0.81 | ||
| Q4 24 | $0.40 | $0.98 | ||
| Q3 24 | $1.09 | $1.07 | ||
| Q2 24 | $0.17 | $0.91 | ||
| Q1 24 | $-0.08 | $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 | $535.5M |
| 总债务越低越好 | $2.3B | $469.9M |
| 股东权益账面价值 | $2.2B | $1.7B |
| 总资产 | $6.6B | $4.4B |
| 负债/权益比越低杠杆越低 | 1.04× | 0.28× |
8季度趋势，按日历期对齐
现金及短期投资MATPRIM
| Q4 25 | $1.2B | $535.5M | ||
| Q3 25 | $691.9M | $431.4M | ||
| Q2 25 | $870.5M | $390.3M | ||
| Q1 25 | $1.2B | $351.6M | ||
| Q4 24 | $1.4B | $455.8M | ||
| Q3 24 | $723.5M | $352.7M | ||
| Q2 24 | $722.4M | $207.4M | ||
| Q1 24 | $1.1B | $177.6M |
总债务MATPRIM
| Q4 25 | $2.3B | $469.9M | ||
| Q3 25 | $2.3B | $486.0M | ||
| Q2 25 | $2.3B | $603.1M | ||
| Q1 25 | $2.3B | $612.0M | ||
| Q4 24 | $2.3B | $734.8M | ||
| Q3 24 | $2.3B | $903.7M | ||
| Q2 24 | $2.3B | $933.0M | ||
| Q1 24 | $2.3B | $951.7M |
股东权益MATPRIM
| Q4 25 | $2.2B | $1.7B | ||
| Q3 25 | $2.3B | $1.6B | ||
| Q2 25 | $2.2B | $1.5B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $2.3B | $1.4B | ||
| Q3 24 | $2.3B | $1.4B | ||
| Q2 24 | $2.0B | $1.3B | ||
| Q1 24 | $2.0B | $1.2B |
总资产MATPRIM
| Q4 25 | $6.6B | $4.4B | ||
| Q3 25 | $6.6B | $4.6B | ||
| Q2 25 | $6.2B | $4.5B | ||
| Q1 25 | $6.2B | $4.2B | ||
| Q4 24 | $6.5B | $4.2B | ||
| Q3 24 | $6.5B | $4.2B | ||
| Q2 24 | $5.9B | $4.0B | ||
| Q1 24 | $6.1B | $4.0B |
负债/权益比MATPRIM
| Q4 25 | 1.04× | 0.28× | ||
| Q3 25 | 1.03× | 0.30× | ||
| Q2 25 | 1.08× | 0.39× | ||
| Q1 25 | 1.10× | 0.42× | ||
| Q4 24 | 1.03× | 0.52× | ||
| Q3 24 | 1.01× | 0.67× | ||
| Q2 24 | 1.18× | 0.72× | ||
| Q1 24 | 1.15× | 0.76× |
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 | $142.9M |
| 自由现金流经营现金流 - 资本支出 | — | $121.1M |
| 自由现金流率自由现金流/营收 | — | 6.5% |
| 资本支出强度资本支出/营收 | — | 1.2% |
| 现金转化率经营现金流/净利润 | 7.50× | 2.76× |
| 过去12个月自由现金流最近4个季度 | — | $340.5M |
8季度趋势，按日历期对齐
经营现金流MATPRIM
| Q4 25 | $796.6M | $142.9M | ||
| Q3 25 | $72.0M | $182.9M | ||
| Q2 25 | $-300.1M | $78.5M | ||
| Q1 25 | $24.8M | $66.2M | ||
| Q4 24 | $862.1M | $298.3M | ||
| Q3 24 | $155.8M | $222.5M | ||
| Q2 24 | $-252.9M | $16.1M | ||
| Q1 24 | $35.5M | $-28.5M |
自由现金流MATPRIM
| Q4 25 | — | $121.1M | ||
| Q3 25 | — | $148.4M | ||
| Q2 25 | — | $45.3M | ||
| Q1 25 | — | $25.6M | ||
| Q4 24 | — | $270.0M | ||
| Q3 24 | — | $158.8M | ||
| Q2 24 | — | $-8.1M | ||
| Q1 24 | — | $-38.9M |
自由现金流率MATPRIM
| Q4 25 | — | 6.5% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | 15.5% | ||
| Q3 24 | — | 9.6% | ||
| Q2 24 | — | -0.5% | ||
| Q1 24 | — | -2.8% |
资本支出强度MATPRIM
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 3.9% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 0.7% |
现金转化率MATPRIM
| Q4 25 | 7.50× | 2.76× | ||
| Q3 25 | 0.26× | 1.93× | ||
| Q2 25 | -5.62× | 0.93× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | 6.12× | 5.53× | ||
| Q3 24 | 0.42× | 3.81× | ||
| Q2 24 | -4.45× | 0.32× | ||
| Q1 24 | — | -1.50× |
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% |
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
