vs
美泰（MAT）与希悦尔（SEE）财务数据对比。点击上方公司名可切换其他公司
希悦尔的季度营收约是美泰的1.6倍（$1.4B vs $862.2M），美泰净利率更高（7.1% vs 3.1%，领先3.9%），美泰同比增速更快（4.3% vs 2.6%），希悦尔自由现金流更多（$257.7M vs $-88.1M），过去两年希悦尔的营收复合增速更高（2.7% 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。
希悦尔是全球领先的包装与防护解决方案供应商，核心产品包括缓冲防护材料、食品保鲜包装、可持续减废包装系统，服务覆盖电商、零售、食品饮料、工业制造等多个海内外领域。
MAT vs SEE — 直观对比
营收规模更大
SEE
是对方的1.6倍
$862.2M
营收增速更快
MAT
高出1.7%
2.6%
净利率更高
MAT
高出3.9%
3.1%
自由现金流更多
SEE
多$345.8M
$-88.1M
两年增速更快
SEE
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $1.4B |
| 净利润 | $61.0M | $43.8M |
| 毛利率 | 44.9% | 28.6% |
| 营业利润率 | — | 11.4% |
| 净利率 | 7.1% | 3.1% |
| 营收同比 | 4.3% | 2.6% |
| 净利润同比 | 251.4% | 700.0% |
| 每股收益（稀释后） | $0.20 | $0.30 |
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MATSEE
| Q1 26 | $862.2M | — | ||
| Q4 25 | $1.8B | $1.4B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $826.6M | $1.3B | ||
| Q4 24 | $1.6B | $1.4B | ||
| Q3 24 | $1.8B | $1.3B | ||
| Q2 24 | $1.1B | $1.3B |
净利润MATSEE
| Q1 26 | $61.0M | — | ||
| Q4 25 | $106.2M | $43.8M | ||
| Q3 25 | $278.4M | $255.1M | ||
| Q2 25 | $53.4M | $93.1M | ||
| Q1 25 | $-40.3M | $113.5M | ||
| Q4 24 | $140.9M | $-7.3M | ||
| Q3 24 | $372.4M | $91.7M | ||
| Q2 24 | $56.9M | $98.3M |
毛利率MATSEE
| Q1 26 | 44.9% | — | ||
| Q4 25 | 45.9% | 28.6% | ||
| Q3 25 | 50.0% | 29.8% | ||
| Q2 25 | 50.9% | 30.7% | ||
| Q1 25 | 49.4% | 30.9% | ||
| Q4 24 | 50.7% | 30.0% | ||
| Q3 24 | 53.1% | 30.1% | ||
| Q2 24 | 49.2% | 31.2% |
营业利润率MATSEE
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | 11.4% | ||
| Q3 25 | 21.9% | 13.8% | ||
| Q2 25 | 7.7% | 15.0% | ||
| Q1 25 | -6.4% | 14.5% | ||
| Q4 24 | 9.6% | 11.7% | ||
| Q3 24 | 26.5% | 13.9% | ||
| Q2 24 | 7.7% | 15.4% |
净利率MATSEE
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.0% | 3.1% | ||
| Q3 25 | 16.0% | 19.0% | ||
| Q2 25 | 5.2% | 7.0% | ||
| Q1 25 | -4.9% | 9.0% | ||
| Q4 24 | 8.6% | -0.5% | ||
| Q3 24 | 20.2% | 6.9% | ||
| Q2 24 | 5.3% | 7.4% |
每股收益（稀释后）MATSEE
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | $0.30 | ||
| Q3 25 | $0.88 | $1.73 | ||
| Q2 25 | $0.16 | $0.63 | ||
| Q1 25 | $-0.12 | $0.77 | ||
| Q4 24 | $0.40 | $-0.05 | ||
| Q3 24 | $1.09 | $0.63 | ||
| Q2 24 | $0.17 | $0.67 |
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 | $344.0M |
| 总债务越低越好 | $2.3B | $3.3B |
| 股东权益账面价值 | $2.1B | $1.2B |
| 总资产 | $6.3B | $7.0B |
| 负债/权益比越低杠杆越低 | 1.11× | 2.65× |
8季度趋势，按日历期对齐
现金及短期投资MATSEE
| Q1 26 | $866.0M | — | ||
| Q4 25 | $1.2B | $344.0M | ||
| Q3 25 | $691.9M | $282.5M | ||
| Q2 25 | $870.5M | $354.4M | ||
| Q1 25 | $1.2B | $335.2M | ||
| Q4 24 | $1.4B | $371.8M | ||
| Q3 24 | $723.5M | $386.0M | ||
| Q2 24 | $722.4M | $388.6M |
总债务MATSEE
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $3.3B | ||
| Q3 25 | $2.3B | $4.0B | ||
| Q2 25 | $2.3B | $4.0B | ||
| Q1 25 | $2.3B | $4.2B | ||
| Q4 24 | $2.3B | $4.2B | ||
| Q3 24 | $2.3B | $4.3B | ||
| Q2 24 | $2.3B | $4.4B |
股东权益MATSEE
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $1.2B | ||
| Q3 25 | $2.3B | $1.2B | ||
| Q2 25 | $2.2B | $953.1M | ||
| Q1 25 | $2.1B | $797.9M | ||
| Q4 24 | $2.3B | $624.5M | ||
| Q3 24 | $2.3B | $771.2M | ||
| Q2 24 | $2.0B | $650.1M |
总资产MATSEE
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.6B | $7.0B | ||
| Q3 25 | $6.6B | $7.1B | ||
| Q2 25 | $6.2B | $7.2B | ||
| Q1 25 | $6.2B | $7.0B | ||
| Q4 24 | $6.5B | $7.0B | ||
| Q3 24 | $6.5B | $7.3B | ||
| Q2 24 | $5.9B | $7.3B |
负债/权益比MATSEE
| Q1 26 | 1.11× | — | ||
| Q4 25 | 1.04× | 2.65× | ||
| Q3 25 | 1.03× | 3.34× | ||
| Q2 25 | 1.08× | 4.18× | ||
| Q1 25 | 1.10× | 5.26× | ||
| Q4 24 | 1.03× | 6.72× | ||
| Q3 24 | 1.01× | 5.62× | ||
| Q2 24 | 1.18× | 6.81× |
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 | — | $293.6M |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | $257.7M |
| 自由现金流率自由现金流/营收 | -10.2% | 18.5% |
| 资本支出强度资本支出/营收 | 7.6% | 2.6% |
| 现金转化率经营现金流/净利润 | — | 6.70× |
| 过去12个月自由现金流最近4个季度 | — | $458.5M |
8季度趋势，按日历期对齐
经营现金流MATSEE
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $293.6M | ||
| Q3 25 | $72.0M | $165.9M | ||
| Q2 25 | $-300.1M | $136.6M | ||
| Q1 25 | $24.8M | $31.9M | ||
| Q4 24 | $862.1M | $244.2M | ||
| Q3 24 | $155.8M | $170.5M | ||
| Q2 24 | $-252.9M | $188.2M |
自由现金流MATSEE
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $257.7M | ||
| Q3 25 | — | $119.6M | ||
| Q2 25 | — | $93.2M | ||
| Q1 25 | — | $-12.0M | ||
| Q4 24 | — | $185.1M | ||
| Q3 24 | — | $115.2M | ||
| Q2 24 | — | $129.5M |
自由现金流率MATSEE
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | 18.5% | ||
| Q3 25 | — | 8.9% | ||
| Q2 25 | — | 7.0% | ||
| Q1 25 | — | -0.9% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | — | 8.6% | ||
| Q2 24 | — | 9.7% |
资本支出强度MATSEE
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 2.6% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 3.5% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | — | 4.1% | ||
| Q2 24 | — | 4.4% |
现金转化率MATSEE
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | 6.70× | ||
| Q3 25 | 0.26× | 0.65× | ||
| Q2 25 | -5.62× | 1.47× | ||
| Q1 25 | — | 0.28× | ||
| Q4 24 | 6.12× | — | ||
| Q3 24 | 0.42× | 1.86× | ||
| Q2 24 | -4.45× | 1.91× |
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
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
