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美泰（MAT）与WHITE MOUNTAINS INSURANCE GROUP LTD（WTM）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WHITE MOUNTAINS INSURANCE GROUP LTD的1.1倍（$1.8B vs $1.6B），WHITE MOUNTAINS INSURANCE GROUP LTD净利率更高（52.1% vs 6.0%，领先46.1%），WHITE MOUNTAINS INSURANCE GROUP LTD同比增速更快（348.0% vs 7.3%），过去两年WHITE MOUNTAINS INSURANCE GROUP LTD的营收复合增速更高（57.4% vs 47.7%）
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。
怀特山保险集团是一家多元化保险及相关金融服务控股企业，总部位于百慕大汉密尔顿，1999年10月25日从美国特拉华州迁册至当前注册地，大部分业务通过旗下保险子公司及其他关联机构开展，覆盖多个保险及金融服务细分赛道。
MAT vs WTM — 直观对比
营收规模更大
MAT
是对方的1.1倍
$1.6B
营收增速更快
WTM
高出340.7%
7.3%
净利率更高
WTM
高出46.1%
6.0%
两年增速更快
WTM
近两年复合增速
47.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.6B |
| 净利润 | $106.2M | $835.8M |
| 毛利率 | 45.9% | 97.1% |
| 营业利润率 | 8.0% | 56.2% |
| 净利率 | 6.0% | 52.1% |
| 营收同比 | 7.3% | 348.0% |
| 净利润同比 | -24.6% | 741.0% |
| 每股收益（稀释后） | $0.32 | $325.02 |
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MATWTM
| Q4 25 | $1.8B | $1.6B | ||
| Q3 25 | $1.7B | $864.2M | ||
| Q2 25 | $1.0B | $689.2M | ||
| Q1 25 | $826.6M | $577.8M | ||
| Q4 24 | $1.6B | $358.0M | ||
| Q3 24 | $1.8B | $839.1M | ||
| Q2 24 | $1.1B | $395.4M | ||
| Q1 24 | $809.5M | $647.3M |
净利润MATWTM
| Q4 25 | $106.2M | $835.8M | ||
| Q3 25 | $278.4M | $113.8M | ||
| Q2 25 | $53.4M | $122.9M | ||
| Q1 25 | $-40.3M | $33.9M | ||
| Q4 24 | $140.9M | $-130.4M | ||
| Q3 24 | $372.4M | $179.0M | ||
| Q2 24 | $56.9M | $-54.6M | ||
| Q1 24 | $-28.3M | $236.4M |
毛利率MATWTM
| Q4 25 | 45.9% | 97.1% | ||
| Q3 25 | 50.0% | 93.6% | ||
| Q2 25 | 50.9% | 93.8% | ||
| Q1 25 | 49.4% | 98.7% | ||
| Q4 24 | 50.7% | 97.9% | ||
| Q3 24 | 53.1% | 99.1% | ||
| Q2 24 | 49.2% | 98.2% | ||
| Q1 24 | 48.0% | 98.8% |
营业利润率MATWTM
| Q4 25 | 8.0% | 56.2% | ||
| Q3 25 | 21.9% | 20.7% | ||
| Q2 25 | 7.7% | 25.6% | ||
| Q1 25 | -6.4% | 12.5% | ||
| Q4 24 | 9.6% | -33.7% | ||
| Q3 24 | 26.5% | 28.5% | ||
| Q2 24 | 7.7% | -8.8% | ||
| Q1 24 | -4.4% | 35.9% |
净利率MATWTM
| Q4 25 | 6.0% | 52.1% | ||
| Q3 25 | 16.0% | 13.2% | ||
| Q2 25 | 5.2% | 17.8% | ||
| Q1 25 | -4.9% | 5.9% | ||
| Q4 24 | 8.6% | -36.4% | ||
| Q3 24 | 20.2% | 21.3% | ||
| Q2 24 | 5.3% | -13.8% | ||
| Q1 24 | -3.5% | 36.5% |
每股收益（稀释后）MATWTM
| Q4 25 | $0.32 | $325.02 | ||
| Q3 25 | $0.88 | $44.18 | ||
| Q2 25 | $0.16 | $47.75 | ||
| Q1 25 | $-0.12 | $13.19 | ||
| Q4 24 | $0.40 | $-50.98 | ||
| Q3 24 | $1.09 | $69.68 | ||
| Q2 24 | $0.17 | $-21.24 | ||
| Q1 24 | $-0.08 | $92.33 |
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 | $1.2B | — |
| 总债务越低越好 | $2.3B | $837.0M |
| 股东权益账面价值 | $2.2B | $5.4B |
| 总资产 | $6.6B | $12.3B |
| 负债/权益比越低杠杆越低 | 1.04× | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资MATWTM
| Q4 25 | $1.2B | — | ||
| Q3 25 | $691.9M | — | ||
| Q2 25 | $870.5M | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $723.5M | — | ||
| Q2 24 | $722.4M | — | ||
| Q1 24 | $1.1B | — |
总债务MATWTM
| Q4 25 | $2.3B | $837.0M | ||
| Q3 25 | $2.3B | $870.4M | ||
| Q2 25 | $2.3B | $694.6M | ||
| Q1 25 | $2.3B | $676.1M | ||
| Q4 24 | $2.3B | $562.5M | ||
| Q3 24 | $2.3B | $544.9M | ||
| Q2 24 | $2.3B | $530.2M | ||
| Q1 24 | $2.3B | $532.1M |
股东权益MATWTM
| Q4 25 | $2.2B | $5.4B | ||
| Q3 25 | $2.3B | $4.8B | ||
| Q2 25 | $2.2B | $4.6B | ||
| Q1 25 | $2.1B | $4.5B | ||
| Q4 24 | $2.3B | $4.5B | ||
| Q3 24 | $2.3B | $4.6B | ||
| Q2 24 | $2.0B | $4.4B | ||
| Q1 24 | $2.0B | $4.5B |
总资产MATWTM
| Q4 25 | $6.6B | $12.3B | ||
| Q3 25 | $6.6B | $12.3B | ||
| Q2 25 | $6.2B | $11.8B | ||
| Q1 25 | $6.2B | $11.0B | ||
| Q4 24 | $6.5B | $9.9B | ||
| Q3 24 | $6.5B | $10.3B | ||
| Q2 24 | $5.9B | $10.2B | ||
| Q1 24 | $6.1B | $9.6B |
负债/权益比MATWTM
| Q4 25 | 1.04× | 0.15× | ||
| Q3 25 | 1.03× | 0.18× | ||
| Q2 25 | 1.08× | 0.15× | ||
| Q1 25 | 1.10× | 0.15× | ||
| Q4 24 | 1.03× | 0.13× | ||
| Q3 24 | 1.01× | 0.12× | ||
| Q2 24 | 1.18× | 0.12× | ||
| Q1 24 | 1.15× | 0.12× |
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 | $796.6M | $53.9M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 7.50× | 0.06× |
| 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MATWTM
| Q4 25 | $796.6M | $53.9M | ||
| Q3 25 | $72.0M | $359.3M | ||
| Q2 25 | $-300.1M | $177.5M | ||
| Q1 25 | $24.8M | $-40.2M | ||
| Q4 24 | $862.1M | $64.1M | ||
| Q3 24 | $155.8M | $269.4M | ||
| Q2 24 | $-252.9M | $216.8M | ||
| Q1 24 | $35.5M | $36.5M |
现金转化率MATWTM
| Q4 25 | 7.50× | 0.06× | ||
| Q3 25 | 0.26× | 3.16× | ||
| Q2 25 | -5.62× | 1.44× | ||
| Q1 25 | — | -1.19× | ||
| Q4 24 | 6.12× | — | ||
| Q3 24 | 0.42× | 1.51× | ||
| Q2 24 | -4.45× | — | ||
| Q1 24 | — | 0.15× |
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
| North America Segment | $1.0B | 58% |
| International Segment | $745.6M | 42% |
WTM
暂无分部数据
