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美泰（MAT）与HANOVER INSURANCE GROUP, INC.（THG）财务数据对比。点击上方公司名可切换其他公司
HANOVER INSURANCE GROUP, INC.的季度营收约是美泰的2.0倍（$1.7B vs $862.2M），HANOVER INSURANCE GROUP, INC.净利率更高（11.0% vs 7.1%，领先3.9%），HANOVER INSURANCE GROUP, INC.同比增速更快（6.1% vs 4.3%），过去两年HANOVER INSURANCE GROUP, INC.的营收复合增速更高（5.2% 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。
汉诺威保险集团是总部位于美国马萨诸塞州伍斯特市的保险企业，1852年成立时主营财产责任保险，以原名公开上市交易，直至上世纪90年代初更名为Allmerica财产意外伤害保险公司。
MAT vs THG — 直观对比
营收规模更大
THG
是对方的2.0倍
$862.2M
营收增速更快
THG
高出1.8%
4.3%
净利率更高
THG
高出3.9%
7.1%
两年增速更快
THG
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $1.7B |
| 净利润 | $61.0M | $186.8M |
| 毛利率 | 44.9% | — |
| 营业利润率 | — | 11.1% |
| 净利率 | 7.1% | 11.0% |
| 营收同比 | 4.3% | 6.1% |
| 净利润同比 | 251.4% | 45.7% |
| 每股收益（稀释后） | $0.20 | — |
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MATTHG
| Q1 26 | $862.2M | $1.7B | ||
| Q4 25 | $1.8B | $1.7B | ||
| Q3 25 | $1.7B | $1.7B | ||
| Q2 25 | $1.0B | $1.7B | ||
| Q1 25 | $826.6M | $1.6B | ||
| Q4 24 | $1.6B | $1.6B | ||
| Q3 24 | $1.8B | $1.6B | ||
| Q2 24 | $1.1B | $1.5B |
净利润MATTHG
| Q1 26 | $61.0M | $186.8M | ||
| Q4 25 | $106.2M | $198.5M | ||
| Q3 25 | $278.4M | $178.7M | ||
| Q2 25 | $53.4M | $157.1M | ||
| Q1 25 | $-40.3M | $128.2M | ||
| Q4 24 | $140.9M | $167.9M | ||
| Q3 24 | $372.4M | $102.1M | ||
| Q2 24 | $56.9M | $40.5M |
毛利率MATTHG
| Q1 26 | 44.9% | — | ||
| 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% | — |
营业利润率MATTHG
| Q1 26 | — | 11.1% | ||
| Q4 25 | 8.0% | 17.3% | ||
| Q3 25 | 21.9% | 14.9% | ||
| Q2 25 | 7.7% | 12.7% | ||
| Q1 25 | -6.4% | 11.6% | ||
| Q4 24 | 9.6% | 16.1% | ||
| Q3 24 | 26.5% | 9.6% | ||
| Q2 24 | 7.7% | 6.2% |
净利率MATTHG
| Q1 26 | 7.1% | 11.0% | ||
| Q4 25 | 6.0% | 11.9% | ||
| Q3 25 | 16.0% | 10.7% | ||
| Q2 25 | 5.2% | 9.5% | ||
| Q1 25 | -4.9% | 8.0% | ||
| Q4 24 | 8.6% | 10.6% | ||
| Q3 24 | 20.2% | 6.5% | ||
| Q2 24 | 5.3% | 2.6% |
每股收益（稀释后）MATTHG
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | $5.46 | ||
| Q3 25 | $0.88 | $4.90 | ||
| Q2 25 | $0.16 | $4.30 | ||
| Q1 25 | $-0.12 | $3.50 | ||
| Q4 24 | $0.40 | $4.60 | ||
| Q3 24 | $1.09 | $2.80 | ||
| Q2 24 | $0.17 | $1.12 |
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 | $243.5M |
| 总债务越低越好 | $2.3B | $843.8M |
| 股东权益账面价值 | $2.1B | $3.0B |
| 总资产 | $6.3B | $16.5B |
| 负债/权益比越低杠杆越低 | 1.11× | 0.28× |
8季度趋势，按日历期对齐
现金及短期投资MATTHG
| Q1 26 | $866.0M | $243.5M | ||
| Q4 25 | $1.2B | $1.1B | ||
| Q3 25 | $691.9M | $915.7M | ||
| Q2 25 | $870.5M | $244.1M | ||
| Q1 25 | $1.2B | $315.1M | ||
| Q4 24 | $1.4B | $435.5M | ||
| Q3 24 | $723.5M | $427.1M | ||
| Q2 24 | $722.4M | $337.6M |
总债务MATTHG
| Q1 26 | $2.3B | $843.8M | ||
| Q4 25 | $2.3B | $843.3M | ||
| Q3 25 | $2.3B | $843.0M | ||
| Q2 25 | $2.3B | $347.8M | ||
| Q1 25 | $2.3B | $722.5M | ||
| Q4 24 | $2.3B | $722.3M | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.3B | — |
股东权益MATTHG
| Q1 26 | $2.1B | $3.0B | ||
| Q4 25 | $2.2B | $3.6B | ||
| Q3 25 | $2.3B | $3.4B | ||
| Q2 25 | $2.2B | $3.2B | ||
| Q1 25 | $2.1B | $3.0B | ||
| Q4 24 | $2.3B | $2.8B | ||
| Q3 24 | $2.3B | $2.9B | ||
| Q2 24 | $2.0B | $2.6B |
总资产MATTHG
| Q1 26 | $6.3B | $16.5B | ||
| Q4 25 | $6.6B | $16.9B | ||
| Q3 25 | $6.6B | $16.8B | ||
| Q2 25 | $6.2B | $15.7B | ||
| Q1 25 | $6.2B | $15.5B | ||
| Q4 24 | $6.5B | $15.3B | ||
| Q3 24 | $6.5B | $15.4B | ||
| Q2 24 | $5.9B | $14.9B |
负债/权益比MATTHG
| Q1 26 | 1.11× | 0.28× | ||
| Q4 25 | 1.04× | 0.24× | ||
| Q3 25 | 1.03× | 0.25× | ||
| Q2 25 | 1.08× | 0.11× | ||
| Q1 25 | 1.10× | 0.24× | ||
| Q4 24 | 1.03× | 0.25× | ||
| 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 | — | — |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | — |
| 自由现金流率自由现金流/营收 | -10.2% | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流MATTHG
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $378.2M | ||
| Q3 25 | $72.0M | $554.4M | ||
| Q2 25 | $-300.1M | $206.6M | ||
| Q1 25 | $24.8M | $38.9M | ||
| Q4 24 | $862.1M | $213.5M | ||
| Q3 24 | $155.8M | $394.7M | ||
| Q2 24 | $-252.9M | $139.5M |
自由现金流MATTHG
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $377.0M | ||
| Q3 25 | — | $551.4M | ||
| Q2 25 | — | $204.9M | ||
| Q1 25 | — | $37.1M | ||
| Q4 24 | — | $210.5M | ||
| Q3 24 | — | $392.3M | ||
| Q2 24 | — | $137.3M |
自由现金流率MATTHG
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | 22.6% | ||
| Q3 25 | — | 33.1% | ||
| Q2 25 | — | 12.4% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | 13.3% | ||
| Q3 24 | — | 25.1% | ||
| Q2 24 | — | 8.9% |
资本支出强度MATTHG
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.1% |
现金转化率MATTHG
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | 1.91× | ||
| Q3 25 | 0.26× | 3.10× | ||
| Q2 25 | -5.62× | 1.32× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | 6.12× | 1.27× | ||
| Q3 24 | 0.42× | 3.87× | ||
| Q2 24 | -4.45× | 3.44× |
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
THG
| Premiums earned | $1.6B | 92% |
| Other | $124.6M | 7% |
| Fees and other income | $6.2M | 0% |
