vs
美泰（MAT）与沃茨水工业（WTS）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沃茨水工业的1.4倍（$862.2M vs $625.1M），沃茨水工业净利率更高（13.4% vs 7.1%，领先6.3%），沃茨水工业同比增速更快（15.7% vs 4.3%），沃茨水工业自由现金流更多（$140.3M vs $-88.1M），过去两年沃茨水工业的营收复合增速更高（4.6% 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。
沃茨水工业旗下AERCO是暖通管道领域的商用冷凝锅炉、高效热水设备及能量回收系统供应商，服务覆盖教育、住宿、政府、办公楼、医疗、工业、多户型住宅等多元市场，1949年推出行业首款半即热式无罐蒸汽热水器，1988年推出首款冷凝全调制设备。
MAT vs WTS — 直观对比
营收规模更大
MAT
是对方的1.4倍
$625.1M
营收增速更快
WTS
高出11.4%
4.3%
净利率更高
WTS
高出6.3%
7.1%
自由现金流更多
WTS
多$228.4M
$-88.1M
两年增速更快
WTS
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $625.1M |
| 净利润 | $61.0M | $83.7M |
| 毛利率 | 44.9% | 49.5% |
| 营业利润率 | — | 18.2% |
| 净利率 | 7.1% | 13.4% |
| 营收同比 | 4.3% | 15.7% |
| 净利润同比 | 251.4% | 24.0% |
| 每股收益（稀释后） | $0.20 | $2.50 |
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MATWTS
| Q1 26 | $862.2M | — | ||
| Q4 25 | $1.8B | $625.1M | ||
| Q3 25 | $1.7B | $611.7M | ||
| Q2 25 | $1.0B | $643.7M | ||
| Q1 25 | $826.6M | $558.0M | ||
| Q4 24 | $1.6B | $540.4M | ||
| Q3 24 | $1.8B | $543.6M | ||
| Q2 24 | $1.1B | $597.3M |
净利润MATWTS
| Q1 26 | $61.0M | — | ||
| Q4 25 | $106.2M | $83.7M | ||
| Q3 25 | $278.4M | $82.2M | ||
| Q2 25 | $53.4M | $100.9M | ||
| Q1 25 | $-40.3M | $74.0M | ||
| Q4 24 | $140.9M | $67.5M | ||
| Q3 24 | $372.4M | $69.1M | ||
| Q2 24 | $56.9M | $82.0M |
毛利率MATWTS
| Q1 26 | 44.9% | — | ||
| Q4 25 | 45.9% | 49.5% | ||
| Q3 25 | 50.0% | 48.8% | ||
| Q2 25 | 50.9% | 50.6% | ||
| Q1 25 | 49.4% | 48.8% | ||
| Q4 24 | 50.7% | 46.7% | ||
| Q3 24 | 53.1% | 47.3% | ||
| Q2 24 | 49.2% | 47.7% |
营业利润率MATWTS
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | 18.2% | ||
| Q3 25 | 21.9% | 18.2% | ||
| Q2 25 | 7.7% | 21.0% | ||
| Q1 25 | -6.4% | 15.7% | ||
| Q4 24 | 9.6% | 16.5% | ||
| Q3 24 | 26.5% | 17.1% | ||
| Q2 24 | 7.7% | 18.7% |
净利率MATWTS
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.0% | 13.4% | ||
| Q3 25 | 16.0% | 13.4% | ||
| Q2 25 | 5.2% | 15.7% | ||
| Q1 25 | -4.9% | 13.3% | ||
| Q4 24 | 8.6% | 12.5% | ||
| Q3 24 | 20.2% | 12.7% | ||
| Q2 24 | 5.3% | 13.7% |
每股收益（稀释后）MATWTS
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | $2.50 | ||
| Q3 25 | $0.88 | $2.45 | ||
| Q2 25 | $0.16 | $3.01 | ||
| Q1 25 | $-0.12 | $2.21 | ||
| Q4 24 | $0.40 | $2.02 | ||
| Q3 24 | $1.09 | $2.06 | ||
| Q2 24 | $0.17 | $2.44 |
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 | $405.5M |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | $2.1B | $2.0B |
| 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MATWTS
| Q1 26 | $866.0M | — | ||
| Q4 25 | $1.2B | $405.5M | ||
| Q3 25 | $691.9M | $457.7M | ||
| Q2 25 | $870.5M | $369.3M | ||
| Q1 25 | $1.2B | $336.8M | ||
| Q4 24 | $1.4B | $386.9M | ||
| Q3 24 | $723.5M | $303.9M | ||
| Q2 24 | $722.4M | $279.4M |
总债务MATWTS
| 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MATWTS
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $2.0B | ||
| Q3 25 | $2.3B | $2.0B | ||
| Q2 25 | $2.2B | $1.9B | ||
| Q1 25 | $2.1B | $1.8B | ||
| Q4 24 | $2.3B | $1.7B | ||
| Q3 24 | $2.3B | $1.7B | ||
| Q2 24 | $2.0B | $1.6B |
总资产MATWTS
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.6B | $2.9B | ||
| Q3 25 | $6.6B | $2.7B | ||
| Q2 25 | $6.2B | $2.6B | ||
| Q1 25 | $6.2B | $2.5B | ||
| Q4 24 | $6.5B | $2.4B | ||
| Q3 24 | $6.5B | $2.4B | ||
| Q2 24 | $5.9B | $2.4B |
负债/权益比MATWTS
| 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 | — | $154.7M |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | $140.3M |
| 自由现金流率自由现金流/营收 | -10.2% | 22.4% |
| 资本支出强度资本支出/营收 | 7.6% | 2.3% |
| 现金转化率经营现金流/净利润 | — | 1.85× |
| 过去12个月自由现金流最近4个季度 | — | $356.3M |
8季度趋势，按日历期对齐
经营现金流MATWTS
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $154.7M | ||
| Q3 25 | $72.0M | $122.4M | ||
| Q2 25 | $-300.1M | $69.7M | ||
| Q1 25 | $24.8M | $55.2M | ||
| Q4 24 | $862.1M | $139.5M | ||
| Q3 24 | $155.8M | $90.7M | ||
| Q2 24 | $-252.9M | $85.3M |
自由现金流MATWTS
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $140.3M | ||
| Q3 25 | — | $110.9M | ||
| Q2 25 | — | $59.5M | ||
| Q1 25 | — | $45.6M | ||
| Q4 24 | — | $127.5M | ||
| Q3 24 | — | $84.3M | ||
| Q2 24 | — | $78.5M |
自由现金流率MATWTS
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | 22.4% | ||
| Q3 25 | — | 18.1% | ||
| Q2 25 | — | 9.2% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | 23.6% | ||
| Q3 24 | — | 15.5% | ||
| Q2 24 | — | 13.1% |
资本支出强度MATWTS
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.1% |
现金转化率MATWTS
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | 1.85× | ||
| Q3 25 | 0.26× | 1.49× | ||
| Q2 25 | -5.62× | 0.69× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 6.12× | 2.07× | ||
| Q3 24 | 0.42× | 1.31× | ||
| Q2 24 | -4.45× | 1.04× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
