vs
美泰（MAT）与Wayfair Inc.（W）财务数据对比。点击上方公司名可切换其他公司
Wayfair Inc.的季度营收约是美泰的3.4倍（$2.9B vs $862.2M），美泰净利率更高（7.1% vs -3.6%，领先10.7%），Wayfair Inc.同比增速更快（7.4% vs 4.3%），美泰自由现金流更多（$-88.1M vs $-106.0M），过去两年Wayfair Inc.的营收复合增速更高（-3.0% 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。
Wayfair Inc.是总部位于美国马萨诸塞州波士顿的电商企业，2002年成立，前身为CSN Stores，专注于家具及家居用品线上销售。目前平台提供来自全球11000余家供应商的1400万款商品，业务遍及北美、加拿大、德国、爱尔兰、中国、英国等国家和地区。
MAT vs W — 直观对比
营收规模更大
W
是对方的3.4倍
$862.2M
营收增速更快
W
高出3.1%
4.3%
净利率更高
MAT
高出10.7%
-3.6%
自由现金流更多
MAT
多$17.9M
$-106.0M
两年增速更快
W
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $2.9B |
| 净利润 | $61.0M | $-105.0M |
| 毛利率 | 44.9% | 30.0% |
| 营业利润率 | — | 69.6% |
| 净利率 | 7.1% | -3.6% |
| 营收同比 | 4.3% | 7.4% |
| 净利润同比 | 251.4% | 7.1% |
| 每股收益（稀释后） | $0.20 | $0.26 |
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MATW
| Q1 26 | $862.2M | $2.9B | ||
| Q4 25 | $1.8B | $3.3B | ||
| Q3 25 | $1.7B | $3.1B | ||
| Q2 25 | $1.0B | $3.3B | ||
| Q1 25 | $826.6M | $2.7B | ||
| Q4 24 | $1.6B | $3.1B | ||
| Q3 24 | $1.8B | $2.9B | ||
| Q2 24 | $1.1B | $3.1B |
净利润MATW
| Q1 26 | $61.0M | $-105.0M | ||
| Q4 25 | $106.2M | $-116.0M | ||
| Q3 25 | $278.4M | $-99.0M | ||
| Q2 25 | $53.4M | $15.0M | ||
| Q1 25 | $-40.3M | $-113.0M | ||
| Q4 24 | $140.9M | $-128.0M | ||
| Q3 24 | $372.4M | $-74.0M | ||
| Q2 24 | $56.9M | $-42.0M |
毛利率MATW
| Q1 26 | 44.9% | 30.0% | ||
| Q4 25 | 45.9% | 30.3% | ||
| Q3 25 | 50.0% | 30.0% | ||
| Q2 25 | 50.9% | 30.1% | ||
| Q1 25 | 49.4% | 30.7% | ||
| Q4 24 | 50.7% | 30.2% | ||
| Q3 24 | 53.1% | 30.3% | ||
| Q2 24 | 49.2% | 30.2% |
营业利润率MATW
| Q1 26 | — | 69.6% | ||
| Q4 25 | 8.0% | 2.5% | ||
| Q3 25 | 21.9% | 1.2% | ||
| Q2 25 | 7.7% | 0.5% | ||
| Q1 25 | -6.4% | -4.5% | ||
| Q4 24 | 9.6% | -3.7% | ||
| Q3 24 | 26.5% | -2.6% | ||
| Q2 24 | 7.7% | -1.1% |
净利率MATW
| Q1 26 | 7.1% | -3.6% | ||
| Q4 25 | 6.0% | -3.5% | ||
| Q3 25 | 16.0% | -3.2% | ||
| Q2 25 | 5.2% | 0.5% | ||
| Q1 25 | -4.9% | -4.1% | ||
| Q4 24 | 8.6% | -4.1% | ||
| Q3 24 | 20.2% | -2.6% | ||
| Q2 24 | 5.3% | -1.3% |
每股收益（稀释后）MATW
| Q1 26 | $0.20 | $0.26 | ||
| Q4 25 | $0.32 | $-0.90 | ||
| Q3 25 | $0.88 | $-0.76 | ||
| Q2 25 | $0.16 | $0.11 | ||
| Q1 25 | $-0.12 | $-0.89 | ||
| Q4 24 | $0.40 | $-1.01 | ||
| Q3 24 | $1.09 | $-0.60 | ||
| Q2 24 | $0.17 | $-0.34 |
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 | $1.1B |
| 总债务越低越好 | $2.3B | $2.9B |
| 股东权益账面价值 | $2.1B | — |
| 总资产 | $6.3B | $2.9B |
| 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MATW
| Q1 26 | $866.0M | $1.1B | ||
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $691.9M | $1.2B | ||
| Q2 25 | $870.5M | $1.4B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.4B | $1.4B | ||
| Q3 24 | $723.5M | $1.3B | ||
| Q2 24 | $722.4M | $1.3B |
总债务MATW
| Q1 26 | $2.3B | $2.9B | ||
| Q4 25 | $2.3B | $3.3B | ||
| Q3 25 | $2.3B | $2.9B | ||
| Q2 25 | $2.3B | $3.0B | ||
| Q1 25 | $2.3B | $3.2B | ||
| Q4 24 | $2.3B | $3.1B | ||
| Q3 24 | $2.3B | $3.2B | ||
| Q2 24 | $2.3B | $3.2B |
股东权益MATW
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $-2.8B | ||
| Q3 25 | $2.3B | $-2.8B | ||
| Q2 25 | $2.2B | $-2.7B | ||
| Q1 25 | $2.1B | $-2.8B | ||
| Q4 24 | $2.3B | $-2.8B | ||
| Q3 24 | $2.3B | $-2.7B | ||
| Q2 24 | $2.0B | $-2.8B |
总资产MATW
| Q1 26 | $6.3B | $2.9B | ||
| Q4 25 | $6.6B | $3.4B | ||
| Q3 25 | $6.6B | $3.1B | ||
| Q2 25 | $6.2B | $3.3B | ||
| Q1 25 | $6.2B | $3.4B | ||
| Q4 24 | $6.5B | $3.5B | ||
| Q3 24 | $6.5B | $3.4B | ||
| Q2 24 | $5.9B | $3.4B |
负债/权益比MATW
| 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 | — | $-52.0M |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | $-106.0M |
| 自由现金流率自由现金流/营收 | -10.2% | -3.6% |
| 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 | — | $459.0M |
8季度趋势，按日历期对齐
经营现金流MATW
| Q1 26 | — | $-52.0M | ||
| Q4 25 | $796.6M | $202.0M | ||
| Q3 25 | $72.0M | $155.0M | ||
| Q2 25 | $-300.1M | $273.0M | ||
| Q1 25 | $24.8M | $-96.0M | ||
| Q4 24 | $862.1M | $162.0M | ||
| Q3 24 | $155.8M | $49.0M | ||
| Q2 24 | $-252.9M | $245.0M |
自由现金流MATW
| Q1 26 | $-88.1M | $-106.0M | ||
| Q4 25 | — | $177.0M | ||
| Q3 25 | — | $128.0M | ||
| Q2 25 | — | $260.0M | ||
| Q1 25 | — | $-101.0M | ||
| Q4 24 | — | $142.0M | ||
| Q3 24 | — | $32.0M | ||
| Q2 24 | — | $222.0M |
自由现金流率MATW
| Q1 26 | -10.2% | -3.6% | ||
| Q4 25 | — | 5.3% | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | — | 7.9% | ||
| Q1 25 | — | -3.7% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 7.1% |
资本支出强度MATW
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.7% |
现金转化率MATW
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | — | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | -5.62× | 18.20× | ||
| 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
