vs
美泰（MAT）与盛思阳（TSE）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盛思阳的1.3倍（$862.2M vs $662.6M），美泰净利率更高（7.1% vs -37.9%，领先45.0%），美泰同比增速更快（4.3% vs -19.3%），盛思阳自由现金流更多（$6.6M vs $-88.1M），过去两年美泰的营收复合增速更高（-10.6% vs -14.4%）
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。
盛思阳（Trinseo）是一家专注于塑料与乳胶粘合剂生产的材料企业。该公司原隶属于陶氏化学公司，2009年陶氏将其分拆待售，2010年相关资产以斯泰隆（Styron）之名作价16.3亿美元出售给贝恩资本。2016年贝恩清仓全部持股， Trinseo自此成为完全独立的公众上市公司。
MAT vs TSE — 直观对比
营收规模更大
MAT
是对方的1.3倍
$662.6M
营收增速更快
MAT
高出23.6%
-19.3%
净利率更高
MAT
高出45.0%
-37.9%
自由现金流更多
TSE
多$94.7M
$-88.1M
两年增速更快
MAT
近两年复合增速
-14.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $662.6M |
| 净利润 | $61.0M | $-251.4M |
| 毛利率 | 44.9% | 4.2% |
| 营业利润率 | — | -24.7% |
| 净利率 | 7.1% | -37.9% |
| 营收同比 | 4.3% | -19.3% |
| 净利润同比 | 251.4% | -113.2% |
| 每股收益（稀释后） | $0.20 | $-7.02 |
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MATTSE
| Q1 26 | $862.2M | — | ||
| Q4 25 | $1.8B | $662.6M | ||
| Q3 25 | $1.7B | $743.2M | ||
| Q2 25 | $1.0B | $784.3M | ||
| Q1 25 | $826.6M | $784.8M | ||
| Q4 24 | $1.6B | $821.5M | ||
| Q3 24 | $1.8B | $867.7M | ||
| Q2 24 | $1.1B | $920.0M |
净利润MATTSE
| Q1 26 | $61.0M | — | ||
| Q4 25 | $106.2M | $-251.4M | ||
| Q3 25 | $278.4M | $-109.7M | ||
| Q2 25 | $53.4M | $-105.5M | ||
| Q1 25 | $-40.3M | $-79.0M | ||
| Q4 24 | $140.9M | $-117.9M | ||
| Q3 24 | $372.4M | $-87.3M | ||
| Q2 24 | $56.9M | $-67.8M |
毛利率MATTSE
| Q1 26 | 44.9% | — | ||
| Q4 25 | 45.9% | 4.2% | ||
| Q3 25 | 50.0% | 5.0% | ||
| Q2 25 | 50.9% | 4.7% | ||
| Q1 25 | 49.4% | 8.1% | ||
| Q4 24 | 50.7% | 6.8% | ||
| Q3 24 | 53.1% | 9.3% | ||
| Q2 24 | 49.2% | 7.4% |
营业利润率MATTSE
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | -24.7% | ||
| Q3 25 | 21.9% | -3.8% | ||
| Q2 25 | 7.7% | -4.2% | ||
| Q1 25 | -6.4% | -3.7% | ||
| Q4 24 | 9.6% | -5.4% | ||
| Q3 24 | 26.5% | -1.4% | ||
| Q2 24 | 7.7% | 1.5% |
净利率MATTSE
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.0% | -37.9% | ||
| Q3 25 | 16.0% | -14.8% | ||
| Q2 25 | 5.2% | -13.5% | ||
| Q1 25 | -4.9% | -10.1% | ||
| Q4 24 | 8.6% | -14.4% | ||
| Q3 24 | 20.2% | -10.1% | ||
| Q2 24 | 5.3% | -7.4% |
每股收益（稀释后）MATTSE
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | $-7.02 | ||
| Q3 25 | $0.88 | $-3.05 | ||
| Q2 25 | $0.16 | $-2.95 | ||
| Q1 25 | $-0.12 | $-2.22 | ||
| Q4 24 | $0.40 | $-3.33 | ||
| Q3 24 | $1.09 | $-2.47 | ||
| Q2 24 | $0.17 | $-1.92 |
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 | $146.7M |
| 总债务越低越好 | $2.3B | $2.5B |
| 股东权益账面价值 | $2.1B | $-1.1B |
| 总资产 | $6.3B | $2.3B |
| 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MATTSE
| Q1 26 | $866.0M | — | ||
| Q4 25 | $1.2B | $146.7M | ||
| Q3 25 | $691.9M | $112.1M | ||
| Q2 25 | $870.5M | $137.0M | ||
| Q1 25 | $1.2B | $126.1M | ||
| Q4 24 | $1.4B | $209.8M | ||
| Q3 24 | $723.5M | $165.3M | ||
| Q2 24 | $722.4M | $105.6M |
总债务MATTSE
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $2.5B | ||
| Q3 25 | $2.3B | $2.5B | ||
| Q2 25 | $2.3B | $2.5B | ||
| Q1 25 | $2.3B | $2.5B | ||
| Q4 24 | $2.3B | $2.4B | ||
| Q3 24 | $2.3B | $2.4B | ||
| Q2 24 | $2.3B | $2.3B |
股东权益MATTSE
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $-1.1B | ||
| Q3 25 | $2.3B | $-861.6M | ||
| Q2 25 | $2.2B | $-750.3M | ||
| Q1 25 | $2.1B | $-679.2M | ||
| Q4 24 | $2.3B | $-619.9M | ||
| Q3 24 | $2.3B | $-480.0M | ||
| Q2 24 | $2.0B | $-413.8M |
总资产MATTSE
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.6B | $2.3B | ||
| Q3 25 | $6.6B | $2.5B | ||
| Q2 25 | $6.2B | $2.6B | ||
| Q1 25 | $6.2B | $2.7B | ||
| Q4 24 | $6.5B | $2.6B | ||
| Q3 24 | $6.5B | $2.9B | ||
| Q2 24 | $5.9B | $2.8B |
负债/权益比MATTSE
| 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 | — | $22.6M |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | $6.6M |
| 自由现金流率自由现金流/营收 | -10.2% | 1.0% |
| 资本支出强度资本支出/营收 | 7.6% | 2.4% |
| 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 | — | $-153.4M |
8季度趋势，按日历期对齐
经营现金流MATTSE
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $22.6M | ||
| Q3 25 | $72.0M | $-21.6M | ||
| Q2 25 | $-300.1M | $6.8M | ||
| Q1 25 | $24.8M | $-110.2M | ||
| Q4 24 | $862.1M | $85.1M | ||
| Q3 24 | $155.8M | $8.8M | ||
| Q2 24 | $-252.9M | $-41.9M |
自由现金流MATTSE
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $6.6M | ||
| Q3 25 | — | $-38.1M | ||
| Q2 25 | — | $-3.0M | ||
| Q1 25 | — | $-118.9M | ||
| Q4 24 | — | $63.9M | ||
| Q3 24 | — | $-3.4M | ||
| Q2 24 | — | $-56.1M |
自由现金流率MATTSE
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | -5.1% | ||
| Q2 25 | — | -0.4% | ||
| Q1 25 | — | -15.2% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | -0.4% | ||
| Q2 24 | — | -6.1% |
资本支出强度MATTSE
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | — | 1.5% |
现金转化率MATTSE
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | — | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | -5.62× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.12× | — | ||
| Q3 24 | 0.42× | — | ||
| 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
TSE
| Other | $325.2M | 49% |
| Asia Pacific | $142.2M | 21% |
| Engineered Materials | $105.0M | 16% |
| Latex | $59.9M | 9% |
| Polymer Solutions | $30.3M | 5% |
