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美泰（MAT）与Public Storage（PSA）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Public Storage的1.5倍（$1.8B vs $1.2B），Public Storage净利率更高（41.7% vs 6.0%，领先35.7%），美泰同比增速更快（7.3% vs 3.3%），过去两年美泰的营收复合增速更高（47.7% vs 2.5%）
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。
Public Storage总部位于美国加利福尼亚州格伦代尔，是主营自助仓储业务的房地产投资信托，也是美国最大的自助仓储服务品牌，持有美国约9%的自助仓储面积。截至2024年12月31日，公司运营3073处自助仓储设施，总可出租净面积达2.21亿平方英尺。
MAT vs PSA — 直观对比
营收规模更大
MAT
是对方的1.5倍
$1.2B
营收增速更快
MAT
高出4.0%
3.3%
净利率更高
PSA
高出35.7%
6.0%
两年增速更快
MAT
近两年复合增速
2.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.2B |
| 净利润 | $106.2M | $507.1M |
| 毛利率 | 45.9% | — |
| 营业利润率 | 8.0% | 40.7% |
| 净利率 | 6.0% | 41.7% |
| 营收同比 | 7.3% | 3.3% |
| 净利润同比 | -24.6% | -17.5% |
| 每股收益（稀释后） | $0.32 | $2.59 |
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MATPSA
| Q4 25 | $1.8B | $1.2B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $826.6M | $1.2B | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $1.8B | $1.2B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $809.5M | $1.2B |
净利润MATPSA
| Q4 25 | $106.2M | $507.1M | ||
| Q3 25 | $278.4M | $511.1M | ||
| Q2 25 | $53.4M | $358.4M | ||
| Q1 25 | $-40.3M | $407.8M | ||
| Q4 24 | $140.9M | $614.6M | ||
| Q3 24 | $372.4M | $430.3M | ||
| Q2 24 | $56.9M | $518.1M | ||
| Q1 24 | $-28.3M | $508.9M |
毛利率MATPSA
| 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MATPSA
| Q4 25 | 8.0% | 40.7% | ||
| Q3 25 | 21.9% | 42.3% | ||
| Q2 25 | 7.7% | 30.4% | ||
| Q1 25 | -6.4% | 34.8% | ||
| Q4 24 | 9.6% | 52.4% | ||
| Q3 24 | 26.5% | 36.7% | ||
| Q2 24 | 7.7% | 44.6% | ||
| Q1 24 | -4.4% | 44.3% |
净利率MATPSA
| Q4 25 | 6.0% | 41.7% | ||
| Q3 25 | 16.0% | 41.8% | ||
| Q2 25 | 5.2% | 29.8% | ||
| Q1 25 | -4.9% | 34.5% | ||
| Q4 24 | 8.6% | 52.2% | ||
| Q3 24 | 20.2% | 36.2% | ||
| Q2 24 | 5.3% | 44.2% | ||
| Q1 24 | -3.5% | 44.0% |
每股收益（稀释后）MATPSA
| Q4 25 | $0.32 | $2.59 | ||
| Q3 25 | $0.88 | $2.62 | ||
| Q2 25 | $0.16 | $1.76 | ||
| Q1 25 | $-0.12 | $2.04 | ||
| Q4 24 | $0.40 | $3.22 | ||
| Q3 24 | $1.09 | $2.16 | ||
| Q2 24 | $0.17 | $2.66 | ||
| Q1 24 | $-0.08 | $2.60 |
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 | $318.1M |
| 总债务越低越好 | $2.3B | $10.3B |
| 股东权益账面价值 | $2.2B | $9.2B |
| 总资产 | $6.6B | $20.2B |
| 负债/权益比越低杠杆越低 | 1.04× | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资MATPSA
| Q4 25 | $1.2B | $318.1M | ||
| Q3 25 | $691.9M | $296.5M | ||
| Q2 25 | $870.5M | $1.1B | ||
| Q1 25 | $1.2B | $287.2M | ||
| Q4 24 | $1.4B | $447.4M | ||
| Q3 24 | $723.5M | $599.0M | ||
| Q2 24 | $722.4M | $542.3M | ||
| Q1 24 | $1.1B | $271.6M |
总债务MATPSA
| Q4 25 | $2.3B | $10.3B | ||
| Q3 25 | $2.3B | $10.0B | ||
| Q2 25 | $2.3B | $10.4B | ||
| Q1 25 | $2.3B | $9.4B | ||
| Q4 24 | $2.3B | $9.4B | ||
| Q3 24 | $2.3B | $9.5B | ||
| Q2 24 | $2.3B | $9.4B | ||
| Q1 24 | $2.3B | $9.1B |
股东权益MATPSA
| Q4 25 | $2.2B | $9.2B | ||
| Q3 25 | $2.3B | $9.3B | ||
| Q2 25 | $2.2B | $9.4B | ||
| Q1 25 | $2.1B | $9.6B | ||
| Q4 24 | $2.3B | $9.7B | ||
| Q3 24 | $2.3B | $9.6B | ||
| Q2 24 | $2.0B | $9.7B | ||
| Q1 24 | $2.0B | $9.9B |
总资产MATPSA
| Q4 25 | $6.6B | $20.2B | ||
| Q3 25 | $6.6B | $20.1B | ||
| Q2 25 | $6.2B | $20.5B | ||
| Q1 25 | $6.2B | $19.6B | ||
| Q4 24 | $6.5B | $19.8B | ||
| Q3 24 | $6.5B | $19.8B | ||
| Q2 24 | $5.9B | $19.8B | ||
| Q1 24 | $6.1B | $19.6B |
负债/权益比MATPSA
| Q4 25 | 1.04× | 1.11× | ||
| Q3 25 | 1.03× | 1.08× | ||
| Q2 25 | 1.08× | 1.11× | ||
| Q1 25 | 1.10× | 0.99× | ||
| Q4 24 | 1.03× | 0.96× | ||
| Q3 24 | 1.01× | 0.99× | ||
| Q2 24 | 1.18× | 0.97× | ||
| Q1 24 | 1.15× | 0.91× |
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 | $733.6M |
| 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× | 1.45× |
| 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MATPSA
| Q4 25 | $796.6M | $733.6M | ||
| Q3 25 | $72.0M | $875.1M | ||
| Q2 25 | $-300.1M | $872.7M | ||
| Q1 25 | $24.8M | $705.1M | ||
| Q4 24 | $862.1M | $768.6M | ||
| Q3 24 | $155.8M | $798.8M | ||
| Q2 24 | $-252.9M | $895.3M | ||
| Q1 24 | $35.5M | $665.6M |
现金转化率MATPSA
| Q4 25 | 7.50× | 1.45× | ||
| Q3 25 | 0.26× | 1.71× | ||
| Q2 25 | -5.62× | 2.43× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | 6.12× | 1.25× | ||
| Q3 24 | 0.42× | 1.86× | ||
| Q2 24 | -4.45× | 1.73× | ||
| Q1 24 | — | 1.31× |
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% |
PSA
| Self Storage Operations | $1.1B | 93% |
| Ancillary Operations | $86.9M | 7% |
