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美泰（MAT）与ADVANCED DRAINAGE SYSTEMS, INC.（WMS）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ADVANCED DRAINAGE SYSTEMS, INC.的1.2倍（$862.2M vs $693.4M），ADVANCED DRAINAGE SYSTEMS, INC.净利率更高（13.5% vs 7.1%，领先6.4%），美泰同比增速更快（4.3% vs 0.4%），ADVANCED DRAINAGE SYSTEMS, INC.自由现金流更多（$183.6M vs $-88.1M），过去两年ADVANCED DRAINAGE SYSTEMS, 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。
Advanced Drainage Systems（简称ADS）是一家美国企业，主营聚丙烯、聚乙烯管材，塑料渗滤场系统、化粪池及配套配件、雨水调蓄设施、PVC排水构件、管件、水过滤与分离设备的设计、生产及销售，是美国规模最大的高密度聚乙烯管道生产商，总部位于俄亥俄州希利厄德。
MAT vs WMS — 直观对比
营收规模更大
MAT
是对方的1.2倍
$693.4M
营收增速更快
MAT
高出3.9%
0.4%
净利率更高
WMS
高出6.4%
7.1%
自由现金流更多
WMS
多$271.7M
$-88.1M
两年增速更快
WMS
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $693.4M |
| 净利润 | $61.0M | $93.6M |
| 毛利率 | 44.9% | 37.4% |
| 营业利润率 | — | 19.7% |
| 净利率 | 7.1% | 13.5% |
| 营收同比 | 4.3% | 0.4% |
| 净利润同比 | 251.4% | 15.3% |
| 每股收益（稀释后） | $0.20 | $1.19 |
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MATWMS
| Q1 26 | $862.2M | — | ||
| Q4 25 | $1.8B | $693.4M | ||
| Q3 25 | $1.7B | $850.4M | ||
| Q2 25 | $1.0B | $829.9M | ||
| Q1 25 | $826.6M | $615.8M | ||
| Q4 24 | $1.6B | $690.5M | ||
| Q3 24 | $1.8B | $782.6M | ||
| Q2 24 | $1.1B | $815.3M |
净利润MATWMS
| Q1 26 | $61.0M | — | ||
| Q4 25 | $106.2M | $93.6M | ||
| Q3 25 | $278.4M | $156.0M | ||
| Q2 25 | $53.4M | $143.9M | ||
| Q1 25 | $-40.3M | $77.2M | ||
| Q4 24 | $140.9M | $81.2M | ||
| Q3 24 | $372.4M | $130.4M | ||
| Q2 24 | $56.9M | $161.4M |
毛利率MATWMS
| Q1 26 | 44.9% | — | ||
| Q4 25 | 45.9% | 37.4% | ||
| Q3 25 | 50.0% | 40.0% | ||
| Q2 25 | 50.9% | 39.8% | ||
| Q1 25 | 49.4% | 36.7% | ||
| Q4 24 | 50.7% | 35.0% | ||
| Q3 24 | 53.1% | 37.6% | ||
| Q2 24 | 49.2% | 40.8% |
营业利润率MATWMS
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | 19.7% | ||
| Q3 25 | 21.9% | 26.3% | ||
| Q2 25 | 7.7% | 24.8% | ||
| Q1 25 | -6.4% | 19.0% | ||
| Q4 24 | 9.6% | 18.4% | ||
| Q3 24 | 26.5% | 23.9% | ||
| Q2 24 | 7.7% | 27.7% |
净利率MATWMS
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.0% | 13.5% | ||
| Q3 25 | 16.0% | 18.3% | ||
| Q2 25 | 5.2% | 17.3% | ||
| Q1 25 | -4.9% | 12.5% | ||
| Q4 24 | 8.6% | 11.8% | ||
| Q3 24 | 20.2% | 16.7% | ||
| Q2 24 | 5.3% | 19.8% |
每股收益（稀释后）MATWMS
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | $1.19 | ||
| Q3 25 | $0.88 | $1.99 | ||
| Q2 25 | $0.16 | $1.84 | ||
| Q1 25 | $-0.12 | $0.99 | ||
| Q4 24 | $0.40 | $1.04 | ||
| Q3 24 | $1.09 | $1.67 | ||
| Q2 24 | $0.17 | $2.06 |
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 | $1.0B |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | $2.1B | $1.9B |
| 总资产 | $6.3B | $4.1B |
| 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MATWMS
| Q1 26 | $866.0M | — | ||
| Q4 25 | $1.2B | $1.0B | ||
| Q3 25 | $691.9M | $812.9M | ||
| Q2 25 | $870.5M | $638.3M | ||
| Q1 25 | $1.2B | $463.3M | ||
| Q4 24 | $1.4B | $488.9M | ||
| Q3 24 | $723.5M | $613.0M | ||
| Q2 24 | $722.4M | $541.6M |
总债务MATWMS
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | $1.3B | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.3B | — |
股东权益MATWMS
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $1.9B | ||
| Q3 25 | $2.3B | $1.8B | ||
| Q2 25 | $2.2B | $1.7B | ||
| Q1 25 | $2.1B | $1.5B | ||
| Q4 24 | $2.3B | $1.5B | ||
| Q3 24 | $2.3B | $1.4B | ||
| Q2 24 | $2.0B | $1.3B |
总资产MATWMS
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.6B | $4.1B | ||
| Q3 25 | $6.6B | $4.1B | ||
| Q2 25 | $6.2B | $3.9B | ||
| Q1 25 | $6.2B | $3.7B | ||
| Q4 24 | $6.5B | $3.6B | ||
| Q3 24 | $6.5B | $3.5B | ||
| Q2 24 | $5.9B | $3.4B |
负债/权益比MATWMS
| Q1 26 | 1.11× | — | ||
| Q4 25 | 1.04× | — | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 1.10× | 0.83× | ||
| 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 | — | $269.3M |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | $183.6M |
| 自由现金流率自由现金流/营收 | -10.2% | 26.5% |
| 资本支出强度资本支出/营收 | 7.6% | 12.4% |
| 现金转化率经营现金流/净利润 | — | 2.88× |
| 过去12个月自由现金流最近4个季度 | — | $577.1M |
8季度趋势，按日历期对齐
经营现金流MATWMS
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $269.3M | ||
| Q3 25 | $72.0M | $234.9M | ||
| Q2 25 | $-300.1M | $275.0M | ||
| Q1 25 | $24.8M | $41.2M | ||
| Q4 24 | $862.1M | $189.9M | ||
| Q3 24 | $155.8M | $166.9M | ||
| Q2 24 | $-252.9M | $183.4M |
自由现金流MATWMS
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $183.6M | ||
| Q3 25 | — | $176.4M | ||
| Q2 25 | — | $222.4M | ||
| Q1 25 | — | $-5.3M | ||
| Q4 24 | — | $135.7M | ||
| Q3 24 | — | $112.4M | ||
| Q2 24 | — | $125.7M |
自由现金流率MATWMS
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | 26.5% | ||
| Q3 25 | — | 20.7% | ||
| Q2 25 | — | 26.8% | ||
| Q1 25 | — | -0.9% | ||
| Q4 24 | — | 19.7% | ||
| Q3 24 | — | 14.4% | ||
| Q2 24 | — | 15.4% |
资本支出强度MATWMS
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 12.4% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 7.6% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | — | 7.0% | ||
| Q2 24 | — | 7.1% |
现金转化率MATWMS
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | 2.88× | ||
| Q3 25 | 0.26× | 1.51× | ||
| Q2 25 | -5.62× | 1.91× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | 6.12× | 2.34× | ||
| Q3 24 | 0.42× | 1.28× | ||
| Q2 24 | -4.45× | 1.14× |
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
WMS
| Reportable Segment Aggregation Before Other Operating Segment | $557.3M | 80% |
| Other | $85.5M | 12% |
| Pipe | $35.5M | 5% |
| Allied Products And Other | $15.0M | 2% |
