vs
美泰（MAT）与Trade Desk (The)（TTD）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Trade Desk (The)的1.0倍（$862.2M vs $846.8M），Trade Desk (The)净利率更高（22.1% vs 7.1%，领先15.0%），Trade Desk (The)同比增速更快（14.3% vs 4.3%），Trade Desk (The)自由现金流更多（$285.3M vs $-88.1M），过去两年Trade Desk (The)的营收复合增速更高（31.3% 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。
The Trade Desk是来自美国的跨国科技企业，专注于实时程序化营销自动化领域的技术、产品与服务研发，可实现面向用户的个性化数字内容分发，为全球广告营销行业客户提供专业解决方案。
MAT vs TTD — 直观对比
营收规模更大
MAT
是对方的1.0倍
$846.8M
营收增速更快
TTD
高出10.0%
4.3%
净利率更高
TTD
高出15.0%
7.1%
自由现金流更多
TTD
多$373.4M
$-88.1M
两年增速更快
TTD
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $846.8M |
| 净利润 | $61.0M | $186.9M |
| 毛利率 | 44.9% | 80.7% |
| 营业利润率 | — | 30.3% |
| 净利率 | 7.1% | 22.1% |
| 营收同比 | 4.3% | 14.3% |
| 净利润同比 | 251.4% | 2.6% |
| 每股收益（稀释后） | $0.20 | $0.39 |
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MATTTD
| Q1 26 | $862.2M | — | ||
| Q4 25 | $1.8B | $846.8M | ||
| Q3 25 | $1.7B | $739.4M | ||
| Q2 25 | $1.0B | $694.0M | ||
| Q1 25 | $826.6M | $616.0M | ||
| Q4 24 | $1.6B | $741.0M | ||
| Q3 24 | $1.8B | $628.0M | ||
| Q2 24 | $1.1B | $584.5M |
净利润MATTTD
| Q1 26 | $61.0M | — | ||
| Q4 25 | $106.2M | $186.9M | ||
| Q3 25 | $278.4M | $115.5M | ||
| Q2 25 | $53.4M | $90.1M | ||
| Q1 25 | $-40.3M | $50.7M | ||
| Q4 24 | $140.9M | $182.2M | ||
| Q3 24 | $372.4M | $94.2M | ||
| Q2 24 | $56.9M | $85.0M |
毛利率MATTTD
| Q1 26 | 44.9% | — | ||
| Q4 25 | 45.9% | 80.7% | ||
| Q3 25 | 50.0% | 78.1% | ||
| Q2 25 | 50.9% | 78.2% | ||
| Q1 25 | 49.4% | 76.8% | ||
| Q4 24 | 50.7% | 81.7% | ||
| Q3 24 | 53.1% | 80.5% | ||
| Q2 24 | 49.2% | 81.1% |
营业利润率MATTTD
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | 30.3% | ||
| Q3 25 | 21.9% | 21.8% | ||
| Q2 25 | 7.7% | 16.8% | ||
| Q1 25 | -6.4% | 8.8% | ||
| Q4 24 | 9.6% | 26.4% | ||
| Q3 24 | 26.5% | 17.3% | ||
| Q2 24 | 7.7% | 16.2% |
净利率MATTTD
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.0% | 22.1% | ||
| Q3 25 | 16.0% | 15.6% | ||
| Q2 25 | 5.2% | 13.0% | ||
| Q1 25 | -4.9% | 8.2% | ||
| Q4 24 | 8.6% | 24.6% | ||
| Q3 24 | 20.2% | 15.0% | ||
| Q2 24 | 5.3% | 14.5% |
每股收益（稀释后）MATTTD
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | $0.39 | ||
| Q3 25 | $0.88 | $0.23 | ||
| Q2 25 | $0.16 | $0.18 | ||
| Q1 25 | $-0.12 | $0.10 | ||
| Q4 24 | $0.40 | $0.36 | ||
| Q3 24 | $1.09 | $0.19 | ||
| Q2 24 | $0.17 | $0.17 |
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 | $1.3B |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | $2.1B | $2.5B |
| 总资产 | $6.3B | $6.2B |
| 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MATTTD
| Q1 26 | $866.0M | — | ||
| Q4 25 | $1.2B | $1.3B | ||
| Q3 25 | $691.9M | $1.4B | ||
| Q2 25 | $870.5M | $1.7B | ||
| Q1 25 | $1.2B | $1.7B | ||
| Q4 24 | $1.4B | $1.9B | ||
| Q3 24 | $723.5M | $1.7B | ||
| Q2 24 | $722.4M | $1.5B |
总债务MATTTD
| 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MATTTD
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $2.5B | ||
| Q3 25 | $2.3B | $2.6B | ||
| Q2 25 | $2.2B | $2.7B | ||
| Q1 25 | $2.1B | $2.7B | ||
| Q4 24 | $2.3B | $2.9B | ||
| Q3 24 | $2.3B | $2.6B | ||
| Q2 24 | $2.0B | $2.4B |
总资产MATTTD
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.6B | $6.2B | ||
| Q3 25 | $6.6B | $5.9B | ||
| Q2 25 | $6.2B | $6.0B | ||
| Q1 25 | $6.2B | $5.7B | ||
| Q4 24 | $6.5B | $6.1B | ||
| Q3 24 | $6.5B | $5.5B | ||
| Q2 24 | $5.9B | $5.2B |
负债/权益比MATTTD
| 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 | — | $311.6M |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | $285.3M |
| 自由现金流率自由现金流/营收 | -10.2% | 33.7% |
| 资本支出强度资本支出/营收 | 7.6% | 3.1% |
| 现金转化率经营现金流/净利润 | — | 1.67× |
| 过去12个月自由现金流最近4个季度 | — | $795.7M |
8季度趋势，按日历期对齐
经营现金流MATTTD
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $311.6M | ||
| Q3 25 | $72.0M | $224.7M | ||
| Q2 25 | $-300.1M | $165.0M | ||
| Q1 25 | $24.8M | $291.4M | ||
| Q4 24 | $862.1M | $199.4M | ||
| Q3 24 | $155.8M | $273.3M | ||
| Q2 24 | $-252.9M | $81.3M |
自由现金流MATTTD
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $285.3M | ||
| Q3 25 | — | $158.3M | ||
| Q2 25 | — | $119.8M | ||
| Q1 25 | — | $232.3M | ||
| Q4 24 | — | $179.2M | ||
| Q3 24 | — | $224.6M | ||
| Q2 24 | — | $59.1M |
自由现金流率MATTTD
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | 33.7% | ||
| Q3 25 | — | 21.4% | ||
| Q2 25 | — | 17.3% | ||
| Q1 25 | — | 37.7% | ||
| Q4 24 | — | 24.2% | ||
| Q3 24 | — | 35.8% | ||
| Q2 24 | — | 10.1% |
资本支出强度MATTTD
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 3.1% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | — | 6.5% | ||
| Q1 25 | — | 9.6% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | 3.8% |
现金转化率MATTTD
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | 1.67× | ||
| Q3 25 | 0.26× | 1.94× | ||
| Q2 25 | -5.62× | 1.83× | ||
| Q1 25 | — | 5.75× | ||
| Q4 24 | 6.12× | 1.09× | ||
| Q3 24 | 0.42× | 2.90× | ||
| Q2 24 | -4.45× | 0.96× |
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
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
