vs
美泰（MAT）与登士柏西诺德（XRAY）财务数据对比。点击上方公司名可切换其他公司
登士柏西诺德的季度营收约是美泰的1.1倍（$961.0M vs $862.2M），美泰净利率更高（7.1% vs -15.2%，领先22.3%），登士柏西诺德同比增速更快（6.2% vs 4.3%），登士柏西诺德自由现金流更多（$60.0M vs $-88.1M），过去两年登士柏西诺德的营收复合增速更高（0.4% 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。
登士柏西诺德是美国牙科设备及耗材制造商，业务覆盖全球120多个国家，在21个国家设有生产工厂。该公司前身为1993年Gendex公司以5.9亿美元收购登士柏国际后整合组建的企业，是全球牙科领域的重要供应商。
MAT vs XRAY — 直观对比
营收规模更大
XRAY
是对方的1.1倍
$862.2M
营收增速更快
XRAY
高出1.9%
4.3%
净利率更高
MAT
高出22.3%
-15.2%
自由现金流更多
XRAY
多$148.1M
$-88.1M
两年增速更快
XRAY
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $961.0M |
| 净利润 | $61.0M | $-146.0M |
| 毛利率 | 44.9% | 46.1% |
| 营业利润率 | — | -14.5% |
| 净利率 | 7.1% | -15.2% |
| 营收同比 | 4.3% | 6.2% |
| 净利润同比 | 251.4% | 66.0% |
| 每股收益（稀释后） | $0.20 | $-0.74 |
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MATXRAY
| Q1 26 | $862.2M | — | ||
| Q4 25 | $1.8B | $961.0M | ||
| Q3 25 | $1.7B | $904.0M | ||
| Q2 25 | $1.0B | $936.0M | ||
| Q1 25 | $826.6M | $879.0M | ||
| Q4 24 | $1.6B | $905.0M | ||
| Q3 24 | $1.8B | $951.0M | ||
| Q2 24 | $1.1B | $984.0M |
净利润MATXRAY
| Q1 26 | $61.0M | — | ||
| Q4 25 | $106.2M | $-146.0M | ||
| Q3 25 | $278.4M | $-427.0M | ||
| Q2 25 | $53.4M | $-45.0M | ||
| Q1 25 | $-40.3M | $20.0M | ||
| Q4 24 | $140.9M | $-430.0M | ||
| Q3 24 | $372.4M | $-494.0M | ||
| Q2 24 | $56.9M | $-4.0M |
毛利率MATXRAY
| Q1 26 | 44.9% | — | ||
| Q4 25 | 45.9% | 46.1% | ||
| Q3 25 | 50.0% | 48.8% | ||
| Q2 25 | 50.9% | 52.4% | ||
| Q1 25 | 49.4% | 53.0% | ||
| Q4 24 | 50.7% | 49.3% | ||
| Q3 24 | 53.1% | 52.1% | ||
| Q2 24 | 49.2% | 51.9% |
营业利润率MATXRAY
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | -14.5% | ||
| Q3 25 | 21.9% | -24.1% | ||
| Q2 25 | 7.7% | -13.7% | ||
| Q1 25 | -6.4% | 7.2% | ||
| Q4 24 | 9.6% | -56.2% | ||
| Q3 24 | 26.5% | -48.6% | ||
| Q2 24 | 7.7% | 5.1% |
净利率MATXRAY
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.0% | -15.2% | ||
| Q3 25 | 16.0% | -47.2% | ||
| Q2 25 | 5.2% | -4.8% | ||
| Q1 25 | -4.9% | 2.3% | ||
| Q4 24 | 8.6% | -47.5% | ||
| Q3 24 | 20.2% | -51.9% | ||
| Q2 24 | 5.3% | -0.4% |
每股收益（稀释后）MATXRAY
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | $-0.74 | ||
| Q3 25 | $0.88 | $-2.14 | ||
| Q2 25 | $0.16 | $-0.22 | ||
| Q1 25 | $-0.12 | $0.10 | ||
| Q4 24 | $0.40 | $-2.09 | ||
| Q3 24 | $1.09 | $-2.46 | ||
| Q2 24 | $0.17 | $-0.02 |
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 | $326.0M |
| 总债务越低越好 | $2.3B | $2.3B |
| 股东权益账面价值 | $2.1B | $1.3B |
| 总资产 | $6.3B | $5.4B |
| 负债/权益比越低杠杆越低 | 1.11× | 1.70× |
8季度趋势，按日历期对齐
现金及短期投资MATXRAY
| Q1 26 | $866.0M | — | ||
| Q4 25 | $1.2B | $326.0M | ||
| Q3 25 | $691.9M | $363.0M | ||
| Q2 25 | $870.5M | $359.0M | ||
| Q1 25 | $1.2B | $398.0M | ||
| Q4 24 | $1.4B | $272.0M | ||
| Q3 24 | $723.5M | $296.0M | ||
| Q2 24 | $722.4M | $279.0M |
总债务MATXRAY
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $2.3B | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.3B | $1.7B | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.3B | — |
股东权益MATXRAY
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $1.3B | ||
| Q3 25 | $2.3B | $1.5B | ||
| Q2 25 | $2.2B | $2.0B | ||
| Q1 25 | $2.1B | $2.0B | ||
| Q4 24 | $2.3B | $1.9B | ||
| Q3 24 | $2.3B | $2.5B | ||
| Q2 24 | $2.0B | $3.1B |
总资产MATXRAY
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.6B | $5.4B | ||
| Q3 25 | $6.6B | $5.7B | ||
| Q2 25 | $6.2B | $6.1B | ||
| Q1 25 | $6.2B | $6.0B | ||
| Q4 24 | $6.5B | $5.8B | ||
| Q3 24 | $6.5B | $6.6B | ||
| Q2 24 | $5.9B | $6.9B |
负债/权益比MATXRAY
| Q1 26 | 1.11× | — | ||
| Q4 25 | 1.04× | 1.70× | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 1.03× | 0.90× | ||
| 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 | — | $101.0M |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | $60.0M |
| 自由现金流率自由现金流/营收 | -10.2% | 6.2% |
| 资本支出强度资本支出/营收 | 7.6% | 4.3% |
| 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 | — | $104.0M |
8季度趋势，按日历期对齐
经营现金流MATXRAY
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $101.0M | ||
| Q3 25 | $72.0M | $79.0M | ||
| Q2 25 | $-300.1M | $48.0M | ||
| Q1 25 | $24.8M | $7.0M | ||
| Q4 24 | $862.1M | $87.0M | ||
| Q3 24 | $155.8M | $141.0M | ||
| Q2 24 | $-252.9M | $208.0M |
自由现金流MATXRAY
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $60.0M | ||
| Q3 25 | — | $40.0M | ||
| Q2 25 | — | $16.0M | ||
| Q1 25 | — | $-12.0M | ||
| Q4 24 | — | $36.0M | ||
| Q3 24 | — | $98.0M | ||
| Q2 24 | — | $156.0M |
自由现金流率MATXRAY
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | 6.2% | ||
| Q3 25 | — | 4.4% | ||
| Q2 25 | — | 1.7% | ||
| Q1 25 | — | -1.4% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 15.9% |
资本支出强度MATXRAY
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 4.3% | ||
| Q3 25 | — | 4.3% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | — | 5.3% |
现金转化率MATXRAY
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | — | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | -5.62× | — | ||
| Q1 25 | — | 0.35× | ||
| 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
XRAY
| Essential Dental Solutions | $372.0M | 39% |
| Equipment And Instruments | $160.0M | 17% |
| Implants And Prosthetics | $150.0M | 16% |
| CADCAM | $139.0M | 14% |
| Wellspect Healthcare | $88.0M | 9% |
| Orthodontics | $52.0M | 5% |
