vs
美泰（MAT）与RH（RH）财务数据对比。点击上方公司名可切换其他公司
RH的季度营收约是美泰的1.0倍（$883.8M vs $862.2M），美泰净利率更高（7.1% vs 4.1%，领先3.0%），RH同比增速更快（8.9% vs 4.3%），RH自由现金流更多（$83.0M vs $-88.1M），过去两年RH的营收复合增速更高（9.4% 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。
RH是美国高端家居品牌，总部位于加利福尼亚州科尔特马德拉。品牌通过线下零售门店、产品目录和线上渠道发售家居商品，截至2018年8月，在美国和加拿大共运营70家展示馆、18家全系列设计展示馆、3家婴童家居展示馆，另有36家奥莱门店。
MAT vs RH — 直观对比
营收规模更大
RH
是对方的1.0倍
$862.2M
营收增速更快
RH
高出4.6%
4.3%
净利率更高
MAT
高出3.0%
4.1%
自由现金流更多
RH
多$171.1M
$-88.1M
两年增速更快
RH
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $883.8M |
| 净利润 | $61.0M | $36.3M |
| 毛利率 | 44.9% | 44.1% |
| 营业利润率 | — | 12.0% |
| 净利率 | 7.1% | 4.1% |
| 营收同比 | 4.3% | 8.9% |
| 净利润同比 | 251.4% | 9.3% |
| 每股收益（稀释后） | $0.20 | $1.83 |
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MATRH
| Q1 26 | $862.2M | — | ||
| Q4 25 | $1.8B | $883.8M | ||
| Q3 25 | $1.7B | $899.2M | ||
| Q2 25 | $1.0B | $814.0M | ||
| Q1 25 | $826.6M | $812.4M | ||
| Q4 24 | $1.6B | $811.7M | ||
| Q3 24 | $1.8B | $829.7M | ||
| Q2 24 | $1.1B | $727.0M |
净利润MATRH
| Q1 26 | $61.0M | — | ||
| Q4 25 | $106.2M | $36.3M | ||
| Q3 25 | $278.4M | $51.7M | ||
| Q2 25 | $53.4M | $8.0M | ||
| Q1 25 | $-40.3M | $13.9M | ||
| Q4 24 | $140.9M | $33.2M | ||
| Q3 24 | $372.4M | $29.0M | ||
| Q2 24 | $56.9M | $-3.6M |
毛利率MATRH
| Q1 26 | 44.9% | — | ||
| Q4 25 | 45.9% | 44.1% | ||
| Q3 25 | 50.0% | 45.5% | ||
| Q2 25 | 50.9% | 43.7% | ||
| Q1 25 | 49.4% | 44.7% | ||
| Q4 24 | 50.7% | 44.5% | ||
| Q3 24 | 53.1% | 45.2% | ||
| Q2 24 | 49.2% | 43.5% |
营业利润率MATRH
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | 12.0% | ||
| Q3 25 | 21.9% | 14.3% | ||
| Q2 25 | 7.7% | 6.9% | ||
| Q1 25 | -6.4% | 8.7% | ||
| Q4 24 | 9.6% | 12.5% | ||
| Q3 24 | 26.5% | 11.6% | ||
| Q2 24 | 7.7% | 7.5% |
净利率MATRH
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.0% | 4.1% | ||
| Q3 25 | 16.0% | 5.8% | ||
| Q2 25 | 5.2% | 1.0% | ||
| Q1 25 | -4.9% | 1.7% | ||
| Q4 24 | 8.6% | 4.1% | ||
| Q3 24 | 20.2% | 3.5% | ||
| Q2 24 | 5.3% | -0.5% |
每股收益（稀释后）MATRH
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | $1.83 | ||
| Q3 25 | $0.88 | $2.62 | ||
| Q2 25 | $0.16 | $0.40 | ||
| Q1 25 | $-0.12 | $0.71 | ||
| Q4 24 | $0.40 | $1.66 | ||
| Q3 24 | $1.09 | $1.45 | ||
| Q2 24 | $0.17 | $-0.20 |
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 | $43.1M |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | $2.1B | $3.3M |
| 总资产 | $6.3B | $4.8B |
| 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MATRH
| Q1 26 | $866.0M | — | ||
| Q4 25 | $1.2B | $43.1M | ||
| Q3 25 | $691.9M | $34.6M | ||
| Q2 25 | $870.5M | $46.1M | ||
| Q1 25 | $1.2B | $30.4M | ||
| Q4 24 | $1.4B | $87.0M | ||
| Q3 24 | $723.5M | $78.3M | ||
| Q2 24 | $722.4M | $101.8M |
总债务MATRH
| 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MATRH
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $3.3M | ||
| Q3 25 | $2.3B | $-40.9M | ||
| Q2 25 | $2.2B | $-110.8M | ||
| Q1 25 | $2.1B | $-163.6M | ||
| Q4 24 | $2.3B | $-183.0M | ||
| Q3 24 | $2.3B | $-234.7M | ||
| Q2 24 | $2.0B | $-289.9M |
总资产MATRH
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.6B | $4.8B | ||
| Q3 25 | $6.6B | $4.7B | ||
| Q2 25 | $6.2B | $4.7B | ||
| Q1 25 | $6.2B | $4.6B | ||
| Q4 24 | $6.5B | $4.5B | ||
| Q3 24 | $6.5B | $4.4B | ||
| Q2 24 | $5.9B | $4.2B |
负债/权益比MATRH
| 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 | — | $131.9M |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | $83.0M |
| 自由现金流率自由现金流/营收 | -10.2% | 9.4% |
| 资本支出强度资本支出/营收 | 7.6% | 5.5% |
| 现金转化率经营现金流/净利润 | — | 3.64× |
| 过去12个月自由现金流最近4个季度 | — | $128.1M |
8季度趋势，按日历期对齐
经营现金流MATRH
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $131.9M | ||
| Q3 25 | $72.0M | $137.7M | ||
| Q2 25 | $-300.1M | $86.6M | ||
| Q1 25 | $24.8M | $-18.8M | ||
| Q4 24 | $862.1M | $-31.4M | ||
| Q3 24 | $155.8M | $11.2M | ||
| Q2 24 | $-252.9M | $56.1M |
自由现金流MATRH
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $83.0M | ||
| Q3 25 | — | $80.7M | ||
| Q2 25 | — | $34.1M | ||
| Q1 25 | — | $-69.7M | ||
| Q4 24 | — | $-96.0M | ||
| Q3 24 | — | $-37.9M | ||
| Q2 24 | — | $-10.1M |
自由现金流率MATRH
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | 9.4% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | — | 4.2% | ||
| Q1 25 | — | -8.6% | ||
| Q4 24 | — | -11.8% | ||
| Q3 24 | — | -4.6% | ||
| Q2 24 | — | -1.4% |
资本支出强度MATRH
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 5.5% | ||
| Q3 25 | — | 6.3% | ||
| Q2 25 | — | 6.5% | ||
| Q1 25 | — | 6.3% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | — | 5.9% | ||
| Q2 24 | — | 9.1% |
现金转化率MATRH
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | 3.64× | ||
| Q3 25 | 0.26× | 2.66× | ||
| Q2 25 | -5.62× | 10.78× | ||
| Q1 25 | — | -1.35× | ||
| Q4 24 | 6.12× | -0.95× | ||
| Q3 24 | 0.42× | 0.39× | ||
| 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
业务分部营收拆解
MAT
暂无分部数据
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
