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美泰（MAT）与PTC Inc.（PTC）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PTC Inc.的1.3倍（$862.2M vs $685.8M），PTC Inc.净利率更高（24.3% vs 7.1%，领先17.2%），PTC Inc.同比增速更快（21.4% vs 4.3%），PTC Inc.自由现金流更多（$267.4M vs $-88.1M），过去两年PTC Inc.的营收复合增速更高（6.6% 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。
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
MAT vs PTC — 直观对比
营收规模更大
MAT
是对方的1.3倍
$685.8M
营收增速更快
PTC
高出17.1%
4.3%
净利率更高
PTC
高出17.2%
7.1%
自由现金流更多
PTC
多$355.5M
$-88.1M
两年增速更快
PTC
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $685.8M |
| 净利润 | $61.0M | $166.5M |
| 毛利率 | 44.9% | 82.8% |
| 营业利润率 | — | 32.2% |
| 净利率 | 7.1% | 24.3% |
| 营收同比 | 4.3% | 21.4% |
| 净利润同比 | 251.4% | 102.5% |
| 每股收益（稀释后） | $0.20 | $1.39 |
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MATPTC
| Q1 26 | $862.2M | — | ||
| Q4 25 | $1.8B | $685.8M | ||
| Q3 25 | $1.7B | $893.8M | ||
| Q2 25 | $1.0B | $643.9M | ||
| Q1 25 | $826.6M | $636.4M | ||
| Q4 24 | $1.6B | $565.1M | ||
| Q3 24 | $1.8B | $626.5M | ||
| Q2 24 | $1.1B | $518.6M |
净利润MATPTC
| Q1 26 | $61.0M | — | ||
| Q4 25 | $106.2M | $166.5M | ||
| Q3 25 | $278.4M | $347.8M | ||
| Q2 25 | $53.4M | $141.3M | ||
| Q1 25 | $-40.3M | $162.6M | ||
| Q4 24 | $140.9M | $82.2M | ||
| Q3 24 | $372.4M | $126.5M | ||
| Q2 24 | $56.9M | $69.0M |
毛利率MATPTC
| Q1 26 | 44.9% | — | ||
| Q4 25 | 45.9% | 82.8% | ||
| Q3 25 | 50.0% | 86.9% | ||
| Q2 25 | 50.9% | 82.9% | ||
| Q1 25 | 49.4% | 83.3% | ||
| Q4 24 | 50.7% | 80.2% | ||
| Q3 24 | 53.1% | 82.0% | ||
| Q2 24 | 49.2% | 78.4% |
营业利润率MATPTC
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | 32.2% | ||
| Q3 25 | 21.9% | 48.5% | ||
| Q2 25 | 7.7% | 32.6% | ||
| Q1 25 | -6.4% | 35.1% | ||
| Q4 24 | 9.6% | 20.4% | ||
| Q3 24 | 26.5% | 31.0% | ||
| Q2 24 | 7.7% | 18.5% |
净利率MATPTC
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.0% | 24.3% | ||
| Q3 25 | 16.0% | 38.9% | ||
| Q2 25 | 5.2% | 21.9% | ||
| Q1 25 | -4.9% | 25.6% | ||
| Q4 24 | 8.6% | 14.6% | ||
| Q3 24 | 20.2% | 20.2% | ||
| Q2 24 | 5.3% | 13.3% |
每股收益（稀释后）MATPTC
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | $1.39 | ||
| Q3 25 | $0.88 | $2.88 | ||
| Q2 25 | $0.16 | $1.17 | ||
| Q1 25 | $-0.12 | $1.35 | ||
| Q4 24 | $0.40 | $0.68 | ||
| Q3 24 | $1.09 | $1.05 | ||
| Q2 24 | $0.17 | $0.57 |
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 | $209.7M |
| 总债务越低越好 | $2.3B | $1.2B |
| 股东权益账面价值 | $2.1B | $3.8B |
| 总资产 | $6.3B | $6.4B |
| 负债/权益比越低杠杆越低 | 1.11× | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资MATPTC
| Q1 26 | $866.0M | — | ||
| Q4 25 | $1.2B | $209.7M | ||
| Q3 25 | $691.9M | $184.4M | ||
| Q2 25 | $870.5M | $199.3M | ||
| Q1 25 | $1.2B | $235.2M | ||
| Q4 24 | $1.4B | $196.3M | ||
| Q3 24 | $723.5M | $265.8M | ||
| Q2 24 | $722.4M | $247.7M |
总债务MATPTC
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $1.2B | ||
| Q3 25 | $2.3B | $1.2B | ||
| Q2 25 | $2.3B | $1.2B | ||
| Q1 25 | $2.3B | $1.4B | ||
| Q4 24 | $2.3B | $1.0B | ||
| Q3 24 | $2.3B | $1.2B | ||
| Q2 24 | $2.3B | $1.3B |
股东权益MATPTC
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $3.8B | ||
| Q3 25 | $2.3B | $3.8B | ||
| Q2 25 | $2.2B | $3.5B | ||
| Q1 25 | $2.1B | $3.4B | ||
| Q4 24 | $2.3B | $3.2B | ||
| Q3 24 | $2.3B | $3.2B | ||
| Q2 24 | $2.0B | $3.0B |
总资产MATPTC
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.6B | $6.4B | ||
| Q3 25 | $6.6B | $6.6B | ||
| Q2 25 | $6.2B | $6.2B | ||
| Q1 25 | $6.2B | $6.2B | ||
| Q4 24 | $6.5B | $6.1B | ||
| Q3 24 | $6.5B | $6.4B | ||
| Q2 24 | $5.9B | $6.1B |
负债/权益比MATPTC
| Q1 26 | 1.11× | — | ||
| Q4 25 | 1.04× | 0.31× | ||
| Q3 25 | 1.03× | 0.31× | ||
| Q2 25 | 1.08× | 0.34× | ||
| Q1 25 | 1.10× | 0.40× | ||
| Q4 24 | 1.03× | 0.32× | ||
| Q3 24 | 1.01× | 0.38× | ||
| Q2 24 | 1.18× | 0.43× |
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 | — | $269.7M |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | $267.4M |
| 自由现金流率自由现金流/营收 | -10.2% | 39.0% |
| 资本支出强度资本支出/营收 | 7.6% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.62× |
| 过去12个月自由现金流最近4个季度 | — | $888.4M |
8季度趋势，按日历期对齐
经营现金流MATPTC
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $269.7M | ||
| Q3 25 | $72.0M | $104.0M | ||
| Q2 25 | $-300.1M | $243.9M | ||
| Q1 25 | $24.8M | $281.3M | ||
| Q4 24 | $862.1M | $238.4M | ||
| Q3 24 | $155.8M | $98.1M | ||
| Q2 24 | $-252.9M | $213.8M |
自由现金流MATPTC
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $267.4M | ||
| Q3 25 | — | $100.5M | ||
| Q2 25 | — | $242.0M | ||
| Q1 25 | — | $278.5M | ||
| Q4 24 | — | $235.7M | ||
| Q3 24 | — | $93.6M | ||
| Q2 24 | — | $212.2M |
自由现金流率MATPTC
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | 39.0% | ||
| Q3 25 | — | 11.2% | ||
| Q2 25 | — | 37.6% | ||
| Q1 25 | — | 43.8% | ||
| Q4 24 | — | 41.7% | ||
| Q3 24 | — | 14.9% | ||
| Q2 24 | — | 40.9% |
资本支出强度MATPTC
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | — | 0.3% |
现金转化率MATPTC
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | 1.62× | ||
| Q3 25 | 0.26× | 0.30× | ||
| Q2 25 | -5.62× | 1.73× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | 6.12× | 2.90× | ||
| Q3 24 | 0.42× | 0.78× | ||
| Q2 24 | -4.45× | 3.10× |
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
暂无分部数据
PTC
| Support And Cloud Services | $393.3M | 57% |
| License | $269.7M | 39% |
| Technology Service | $22.9M | 3% |
| Perpetual License | $5.6M | 1% |
