vs
美泰（MAT）与微博公司（WB）财务数据对比。点击上方公司名可切换其他公司
微博公司的季度营收约是美泰的1.5倍（$1.3B vs $862.2M），微博公司净利率更高（35.7% vs 7.1%，领先28.6%），过去两年微博公司的营收复合增速更高（22.6% 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。
微博公司是中国知名的社交网络企业，旗下运营的新浪微博是国内极具影响力的微博客平台，公司总部位于中国北京，为数以亿计的用户提供社交互动、资讯传播、内容创作等多元互联网服务。
MAT vs WB — 直观对比
营收规模更大
WB
是对方的1.5倍
$862.2M
净利率更高
WB
高出28.6%
7.1%
两年增速更快
WB
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $1.3B |
| 净利润 | $61.0M | $458.3M |
| 毛利率 | 44.9% | — |
| 营业利润率 | — | 29.1% |
| 净利率 | 7.1% | 35.7% |
| 营收同比 | 4.3% | — |
| 净利润同比 | 251.4% | — |
| 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MATWB
| Q1 26 | $862.2M | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.0B | $841.7M | ||
| Q1 25 | $826.6M | $396.9M | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.8B | $1.3B | ||
| Q2 24 | $1.1B | $833.4M |
净利润MATWB
| Q1 26 | $61.0M | — | ||
| Q4 25 | $106.2M | — | ||
| Q3 25 | $278.4M | $458.3M | ||
| Q2 25 | $53.4M | $234.8M | ||
| Q1 25 | $-40.3M | $108.1M | ||
| Q4 24 | $140.9M | — | ||
| Q3 24 | $372.4M | $297.4M | ||
| Q2 24 | $56.9M | $164.6M |
毛利率MATWB
| 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MATWB
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | — | ||
| Q3 25 | 21.9% | 29.1% | ||
| Q2 25 | 7.7% | 30.4% | ||
| Q1 25 | -6.4% | 27.8% | ||
| Q4 24 | 9.6% | — | ||
| Q3 24 | 26.5% | 29.0% | ||
| Q2 24 | 7.7% | 28.2% |
净利率MATWB
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.0% | — | ||
| Q3 25 | 16.0% | 35.7% | ||
| Q2 25 | 5.2% | 27.9% | ||
| Q1 25 | -4.9% | 27.2% | ||
| Q4 24 | 8.6% | — | ||
| Q3 24 | 20.2% | 22.9% | ||
| Q2 24 | 5.3% | 19.8% |
每股收益（稀释后）MATWB
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | — | ||
| Q3 25 | $0.88 | — | ||
| Q2 25 | $0.16 | — | ||
| Q1 25 | $-0.12 | — | ||
| Q4 24 | $0.40 | — | ||
| Q3 24 | $1.09 | — | ||
| Q2 24 | $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 | $1.1B |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | $2.1B | $3.9B |
| 总资产 | $6.3B | $6.9B |
| 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MATWB
| Q1 26 | $866.0M | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $691.9M | $1.1B | ||
| Q2 25 | $870.5M | $1.2B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $723.5M | — | ||
| Q2 24 | $722.4M | $1.9B |
总债务MATWB
| 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MATWB
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.3B | $3.9B | ||
| Q2 25 | $2.2B | $3.6B | ||
| Q1 25 | $2.1B | $3.5B | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.0B | $3.4B |
总资产MATWB
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.6B | — | ||
| Q3 25 | $6.6B | $6.9B | ||
| Q2 25 | $6.2B | $6.5B | ||
| Q1 25 | $6.2B | $6.7B | ||
| Q4 24 | $6.5B | — | ||
| Q3 24 | $6.5B | — | ||
| Q2 24 | $5.9B | $7.1B |
负债/权益比MATWB
| 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 | — | — |
| 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MATWB
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | — | ||
| Q3 25 | $72.0M | — | ||
| Q2 25 | $-300.1M | — | ||
| Q1 25 | $24.8M | — | ||
| Q4 24 | $862.1M | — | ||
| Q3 24 | $155.8M | — | ||
| Q2 24 | $-252.9M | — |
自由现金流MATWB
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
自由现金流率MATWB
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
资本支出强度MATWB
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率MATWB
| 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
WB
| Income from operations | $373.2M | 29% |
| Shares used in computing diluted net income per share attributable to Weibos shareholders | $268.1M | 21% |
| Shares used in computing basic net income per share attributable to Weibos shareholders | $238.6M | 19% |
| Value-added services | $186.1M | 14% |
| Less: Income tax expenses | $113.2M | 9% |
| Investment related income, net | $45.0M | 4% |
| Product development | $16.7M | 1% |
| General and administrative | $10.6M | 1% |
| Sales and marketing | $7.1M | 1% |
| Accretion to redeemable non-controlling interests | $3.0M | 0% |
