vs
美泰（MAT）与威世（VSH）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威世的1.1倍（$862.2M vs $800.9M），美泰净利率更高（7.1% vs 0.1%，领先7.0%），威世同比增速更快（12.1% vs 4.3%），威世自由现金流更多（$54.6M vs $-88.1M），过去两年威世的营收复合增速更高（3.6% 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。
威世（Vishay Intertechnology）是美国知名的分立半导体与被动电子元器件制造商，由企业家菲利克斯·赞德曼创立。公司在以色列、亚洲、欧洲、美洲均设有生产基地，产品覆盖整流器、二极管、MOSFET、光电器件、精选集成电路、电阻器、电容器、电感器等品类，2024年营收达29亿美元，全球全职员工约2.27万人。
MAT vs VSH — 直观对比
营收规模更大
MAT
是对方的1.1倍
$800.9M
营收增速更快
VSH
高出7.8%
4.3%
净利率更高
MAT
高出7.0%
0.1%
自由现金流更多
VSH
多$142.7M
$-88.1M
两年增速更快
VSH
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $800.9M |
| 净利润 | $61.0M | $986.0K |
| 毛利率 | 44.9% | 19.6% |
| 营业利润率 | — | 1.8% |
| 净利率 | 7.1% | 0.1% |
| 营收同比 | 4.3% | 12.1% |
| 净利润同比 | 251.4% | 101.5% |
| 每股收益（稀释后） | $0.20 | $0.01 |
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MATVSH
| Q1 26 | $862.2M | — | ||
| Q4 25 | $1.8B | $800.9M | ||
| Q3 25 | $1.7B | $790.6M | ||
| Q2 25 | $1.0B | $762.3M | ||
| Q1 25 | $826.6M | $715.2M | ||
| Q4 24 | $1.6B | $714.7M | ||
| Q3 24 | $1.8B | $735.4M | ||
| Q2 24 | $1.1B | $741.2M |
净利润MATVSH
| Q1 26 | $61.0M | — | ||
| Q4 25 | $106.2M | $986.0K | ||
| Q3 25 | $278.4M | $-7.9M | ||
| Q2 25 | $53.4M | $2.0M | ||
| Q1 25 | $-40.3M | $-4.1M | ||
| Q4 24 | $140.9M | $-66.1M | ||
| Q3 24 | $372.4M | $-19.3M | ||
| Q2 24 | $56.9M | $23.5M |
毛利率MATVSH
| Q1 26 | 44.9% | — | ||
| Q4 25 | 45.9% | 19.6% | ||
| Q3 25 | 50.0% | 19.5% | ||
| Q2 25 | 50.9% | 19.5% | ||
| Q1 25 | 49.4% | 19.0% | ||
| Q4 24 | 50.7% | 19.9% | ||
| Q3 24 | 53.1% | 20.5% | ||
| Q2 24 | 49.2% | 22.0% |
营业利润率MATVSH
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | 1.8% | ||
| Q3 25 | 21.9% | 2.4% | ||
| Q2 25 | 7.7% | 2.9% | ||
| Q1 25 | -6.4% | 0.1% | ||
| Q4 24 | 9.6% | -7.9% | ||
| Q3 24 | 26.5% | -2.5% | ||
| Q2 24 | 7.7% | 5.1% |
净利率MATVSH
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.0% | 0.1% | ||
| Q3 25 | 16.0% | -1.0% | ||
| Q2 25 | 5.2% | 0.3% | ||
| Q1 25 | -4.9% | -0.6% | ||
| Q4 24 | 8.6% | -9.2% | ||
| Q3 24 | 20.2% | -2.6% | ||
| Q2 24 | 5.3% | 3.2% |
每股收益（稀释后）MATVSH
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | $0.01 | ||
| Q3 25 | $0.88 | $-0.06 | ||
| Q2 25 | $0.16 | $0.01 | ||
| Q1 25 | $-0.12 | $-0.03 | ||
| Q4 24 | $0.40 | $-0.48 | ||
| Q3 24 | $1.09 | $-0.14 | ||
| 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 | $515.0M |
| 总债务越低越好 | $2.3B | $950.9M |
| 股东权益账面价值 | $2.1B | $2.1B |
| 总资产 | $6.3B | $4.2B |
| 负债/权益比越低杠杆越低 | 1.11× | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资MATVSH
| Q1 26 | $866.0M | — | ||
| Q4 25 | $1.2B | $515.0M | ||
| Q3 25 | $691.9M | $443.9M | ||
| Q2 25 | $870.5M | $473.9M | ||
| Q1 25 | $1.2B | $609.4M | ||
| Q4 24 | $1.4B | $590.3M | ||
| Q3 24 | $723.5M | $643.8M | ||
| Q2 24 | $722.4M | $672.7M |
总债务MATVSH
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $950.9M | ||
| Q3 25 | $2.3B | $919.7M | ||
| Q2 25 | $2.3B | $914.5M | ||
| Q1 25 | $2.3B | $988.2M | ||
| Q4 24 | $2.3B | $905.0M | ||
| Q3 24 | $2.3B | $820.8M | ||
| Q2 24 | $2.3B | $820.6M |
股东权益MATVSH
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $2.1B | ||
| Q3 25 | $2.3B | $2.1B | ||
| Q2 25 | $2.2B | $2.1B | ||
| Q1 25 | $2.1B | $2.0B | ||
| Q4 24 | $2.3B | $2.0B | ||
| Q3 24 | $2.3B | $2.2B | ||
| Q2 24 | $2.0B | $2.2B |
总资产MATVSH
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.6B | $4.2B | ||
| Q3 25 | $6.6B | $4.2B | ||
| Q2 25 | $6.2B | $4.2B | ||
| Q1 25 | $6.2B | $4.2B | ||
| Q4 24 | $6.5B | $4.1B | ||
| Q3 24 | $6.5B | $4.2B | ||
| Q2 24 | $5.9B | $4.2B |
负债/权益比MATVSH
| Q1 26 | 1.11× | — | ||
| Q4 25 | 1.04× | 0.46× | ||
| Q3 25 | 1.03× | 0.44× | ||
| Q2 25 | 1.08× | 0.44× | ||
| Q1 25 | 1.10× | 0.49× | ||
| Q4 24 | 1.03× | 0.45× | ||
| Q3 24 | 1.01× | 0.38× | ||
| Q2 24 | 1.18× | 0.38× |
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 | — | $149.4M |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | $54.6M |
| 自由现金流率自由现金流/营收 | -10.2% | 6.8% |
| 资本支出强度资本支出/营收 | 7.6% | 11.8% |
| 现金转化率经营现金流/净利润 | — | 151.48× |
| 过去12个月自由现金流最近4个季度 | — | $-89.0M |
8季度趋势，按日历期对齐
经营现金流MATVSH
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $149.4M | ||
| Q3 25 | $72.0M | $27.6M | ||
| Q2 25 | $-300.1M | $-8.8M | ||
| Q1 25 | $24.8M | $16.1M | ||
| Q4 24 | $862.1M | $67.7M | ||
| Q3 24 | $155.8M | $50.6M | ||
| Q2 24 | $-252.9M | $-24.7M |
自由现金流MATVSH
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $54.6M | ||
| Q3 25 | — | $-24.7M | ||
| Q2 25 | — | $-73.4M | ||
| Q1 25 | — | $-45.5M | ||
| Q4 24 | — | $-77.2M | ||
| Q3 24 | — | $-9.0M | ||
| Q2 24 | — | $-87.3M |
自由现金流率MATVSH
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | 6.8% | ||
| Q3 25 | — | -3.1% | ||
| Q2 25 | — | -9.6% | ||
| Q1 25 | — | -6.4% | ||
| Q4 24 | — | -10.8% | ||
| Q3 24 | — | -1.2% | ||
| Q2 24 | — | -11.8% |
资本支出强度MATVSH
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 11.8% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | 8.5% | ||
| Q1 25 | — | 8.6% | ||
| Q4 24 | — | 20.3% | ||
| Q3 24 | — | 8.1% | ||
| Q2 24 | — | 8.4% |
现金转化率MATVSH
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | 151.48× | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | -5.62× | -4.39× | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.12× | — | ||
| Q3 24 | 0.42× | — | ||
| Q2 24 | -4.45× | -1.05× |
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
VSH
| Resistors Segment | $189.4M | 24% |
| Diodes Segment | $154.2M | 19% |
| Capacitors Segment | $136.5M | 17% |
| Other | $126.4M | 16% |
| Inductors Segment | $92.6M | 12% |
| Optoelectronic Components Segment | $55.7M | 7% |
| EMS Companies | $51.6M | 6% |
