vs
美泰（MAT）与Solventum（SOLV）财务数据对比。点击上方公司名可切换其他公司
Solventum的季度营收约是美泰的2.3倍（$2.0B vs $862.2M），美泰净利率更高（7.1% vs 0.6%，领先6.4%），美泰同比增速更快（4.3% vs -3.0%），美泰自由现金流更多（$-88.1M vs $-273.0M），过去两年Solventum的营收复合增速更高（-1.8% 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。
Solventum是一家总部位于美国的医疗健康企业，于2024年4月1日正式从全球知名多元化工业集团3M分拆后独立运营，继承了原3M旗下医疗板块的技术积累与业务资源，面向全球市场提供专业医疗相关产品及服务。
MAT vs SOLV — 直观对比
营收规模更大
SOLV
是对方的2.3倍
$862.2M
营收增速更快
MAT
高出7.4%
-3.0%
净利率更高
MAT
高出6.4%
0.6%
自由现金流更多
MAT
多$184.9M
$-273.0M
两年增速更快
SOLV
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $2.0B |
| 净利润 | $61.0M | $13.0M |
| 毛利率 | 44.9% | 54.7% |
| 营业利润率 | — | 4.0% |
| 净利率 | 7.1% | 0.6% |
| 营收同比 | 4.3% | -3.0% |
| 净利润同比 | 251.4% | — |
| 每股收益（稀释后） | $0.20 | $0.07 |
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MATSOLV
| Q1 26 | $862.2M | $2.0B | ||
| Q4 25 | $1.8B | $2.0B | ||
| Q3 25 | $1.7B | $2.1B | ||
| Q2 25 | $1.0B | $2.2B | ||
| Q1 25 | $826.6M | $2.1B | ||
| Q4 24 | $1.6B | $2.1B | ||
| Q3 24 | $1.8B | $2.1B | ||
| Q2 24 | $1.1B | $2.1B |
净利润MATSOLV
| Q1 26 | $61.0M | $13.0M | ||
| Q4 25 | $106.2M | $63.0M | ||
| Q3 25 | $278.4M | $1.3B | ||
| Q2 25 | $53.4M | $90.0M | ||
| Q1 25 | $-40.3M | $137.0M | ||
| Q4 24 | $140.9M | $31.0M | ||
| Q3 24 | $372.4M | $122.0M | ||
| Q2 24 | $56.9M | $89.0M |
毛利率MATSOLV
| Q1 26 | 44.9% | 54.7% | ||
| Q4 25 | 45.9% | 51.4% | ||
| Q3 25 | 50.0% | 54.2% | ||
| Q2 25 | 50.9% | 54.4% | ||
| Q1 25 | 49.4% | 53.8% | ||
| Q4 24 | 50.7% | 53.9% | ||
| Q3 24 | 53.1% | 56.0% | ||
| Q2 24 | 49.2% | 54.6% |
营业利润率MATSOLV
| Q1 26 | — | 4.0% | ||
| Q4 25 | 8.0% | 6.3% | ||
| Q3 25 | 21.9% | 80.6% | ||
| Q2 25 | 7.7% | 9.9% | ||
| Q1 25 | -6.4% | 7.3% | ||
| Q4 24 | 9.6% | 6.6% | ||
| Q3 24 | 26.5% | 13.2% | ||
| Q2 24 | 7.7% | 11.7% |
净利率MATSOLV
| Q1 26 | 7.1% | 0.6% | ||
| Q4 25 | 6.0% | 3.2% | ||
| Q3 25 | 16.0% | 60.4% | ||
| Q2 25 | 5.2% | 4.2% | ||
| Q1 25 | -4.9% | 6.6% | ||
| Q4 24 | 8.6% | 1.5% | ||
| Q3 24 | 20.2% | 5.9% | ||
| Q2 24 | 5.3% | 4.3% |
每股收益（稀释后）MATSOLV
| Q1 26 | $0.20 | $0.07 | ||
| Q4 25 | $0.32 | $0.37 | ||
| Q3 25 | $0.88 | $7.22 | ||
| Q2 25 | $0.16 | $0.51 | ||
| Q1 25 | $-0.12 | $0.78 | ||
| Q4 24 | $0.40 | $0.18 | ||
| Q3 24 | $1.09 | $0.70 | ||
| Q2 24 | $0.17 | $0.51 |
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 | $561.0M |
| 总债务越低越好 | $2.3B | $4.6B |
| 股东权益账面价值 | $2.1B | $5.0B |
| 总资产 | $6.3B | $14.1B |
| 负债/权益比越低杠杆越低 | 1.11× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资MATSOLV
| Q1 26 | $866.0M | $561.0M | ||
| Q4 25 | $1.2B | $878.0M | ||
| Q3 25 | $691.9M | $1.6B | ||
| Q2 25 | $870.5M | $492.0M | ||
| Q1 25 | $1.2B | $534.0M | ||
| Q4 24 | $1.4B | $762.0M | ||
| Q3 24 | $723.5M | $772.0M | ||
| Q2 24 | $722.4M | $897.0M |
总债务MATSOLV
| Q1 26 | $2.3B | $4.6B | ||
| Q4 25 | $2.3B | $5.0B | ||
| Q3 25 | $2.3B | $5.1B | ||
| Q2 25 | $2.3B | $7.8B | ||
| Q1 25 | $2.3B | $7.9B | ||
| Q4 24 | $2.3B | $8.0B | ||
| Q3 24 | $2.3B | $8.1B | ||
| Q2 24 | $2.3B | $8.3B |
股东权益MATSOLV
| Q1 26 | $2.1B | $5.0B | ||
| Q4 25 | $2.2B | $5.0B | ||
| Q3 25 | $2.3B | $5.0B | ||
| Q2 25 | $2.2B | $3.6B | ||
| Q1 25 | $2.1B | $3.3B | ||
| Q4 24 | $2.3B | $3.0B | ||
| Q3 24 | $2.3B | $3.2B | ||
| Q2 24 | $2.0B | $2.9B |
总资产MATSOLV
| Q1 26 | $6.3B | $14.1B | ||
| Q4 25 | $6.6B | $14.3B | ||
| Q3 25 | $6.6B | $14.0B | ||
| Q2 25 | $6.2B | $15.1B | ||
| Q1 25 | $6.2B | $14.5B | ||
| Q4 24 | $6.5B | $14.5B | ||
| Q3 24 | $6.5B | $14.7B | ||
| Q2 24 | $5.9B | $14.6B |
负债/权益比MATSOLV
| Q1 26 | 1.11× | 0.92× | ||
| Q4 25 | 1.04× | 1.00× | ||
| Q3 25 | 1.03× | 1.03× | ||
| Q2 25 | 1.08× | 2.14× | ||
| Q1 25 | 1.10× | 2.43× | ||
| Q4 24 | 1.03× | 2.71× | ||
| Q3 24 | 1.01× | 2.54× | ||
| Q2 24 | 1.18× | 2.90× |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | $-273.0M |
| 自由现金流率自由现金流/营收 | -10.2% | -13.6% |
| 资本支出强度资本支出/营收 | 7.6% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $-203.0M |
8季度趋势，按日历期对齐
经营现金流MATSOLV
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $95.0M | ||
| Q3 25 | $72.0M | $76.0M | ||
| Q2 25 | $-300.1M | $169.0M | ||
| Q1 25 | $24.8M | $29.0M | ||
| Q4 24 | $862.1M | $219.0M | ||
| Q3 24 | $155.8M | $169.0M | ||
| Q2 24 | $-252.9M | $355.0M |
自由现金流MATSOLV
| Q1 26 | $-88.1M | $-273.0M | ||
| Q4 25 | — | $32.0M | ||
| Q3 25 | — | $-21.0M | ||
| Q2 25 | — | $59.0M | ||
| Q1 25 | — | $-80.0M | ||
| Q4 24 | — | $92.0M | ||
| Q3 24 | — | $76.0M | ||
| Q2 24 | — | $297.0M |
自由现金流率MATSOLV
| Q1 26 | -10.2% | -13.6% | ||
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | -1.0% | ||
| Q2 25 | — | 2.7% | ||
| Q1 25 | — | -3.9% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 14.3% |
资本支出强度MATSOLV
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 3.2% | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | — | 5.1% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | — | 2.8% |
现金转化率MATSOLV
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | 1.51× | ||
| Q3 25 | 0.26× | 0.06× | ||
| Q2 25 | -5.62× | 1.88× | ||
| Q1 25 | — | 0.21× | ||
| Q4 24 | 6.12× | 7.06× | ||
| Q3 24 | 0.42× | 1.39× | ||
| Q2 24 | -4.45× | 3.99× |
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
SOLV
| Infection Prevention and Surgical Solutions | $737.0M | 37% |
| Advanced Wound Care | $497.0M | 25% |
| Dental Solutions | $354.0M | 18% |
| Health Information Systems | $342.0M | 17% |
| All Other 4 | $76.0M | 4% |
