vs
美泰（MAT）与斑马技术（ZBRA）财务数据对比。点击上方公司名可切换其他公司
斑马技术的季度营收约是美泰的1.7倍（$1.5B vs $862.2M），斑马技术净利率更高（9.0% vs 7.1%，领先2.0%），斑马技术同比增速更快（14.3% vs 4.3%），过去两年斑马技术的营收复合增速更高（10.8% 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。
斑马技术（Zebra Technologies）是源自美国的跨国科技企业，专注于智能数据采集系统领域的研发与落地。公司总部位于芝加哥郊外的伊利诺伊州林肯郡，目前在全球57个国家和地区开展业务，雇员总数达10700名。
MAT vs ZBRA — 直观对比
营收规模更大
ZBRA
是对方的1.7倍
$862.2M
营收增速更快
ZBRA
高出10.0%
4.3%
净利率更高
ZBRA
高出2.0%
7.1%
两年增速更快
ZBRA
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $1.5B |
| 净利润 | $61.0M | $135.0M |
| 毛利率 | 44.9% | 49.6% |
| 营业利润率 | — | 14.4% |
| 净利率 | 7.1% | 9.0% |
| 营收同比 | 4.3% | 14.3% |
| 净利润同比 | 251.4% | -0.7% |
| 每股收益（稀释后） | $0.20 | $2.72 |
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MATZBRA
| Q1 26 | $862.2M | $1.5B | ||
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $826.6M | $1.3B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.8B | $1.3B | ||
| Q2 24 | $1.1B | $1.2B |
净利润MATZBRA
| Q1 26 | $61.0M | $135.0M | ||
| Q4 25 | $106.2M | $70.0M | ||
| Q3 25 | $278.4M | $101.0M | ||
| Q2 25 | $53.4M | $112.0M | ||
| Q1 25 | $-40.3M | $136.0M | ||
| Q4 24 | $140.9M | $163.0M | ||
| Q3 24 | $372.4M | $137.0M | ||
| Q2 24 | $56.9M | $113.0M |
毛利率MATZBRA
| Q1 26 | 44.9% | 49.6% | ||
| Q4 25 | 45.9% | 47.3% | ||
| Q3 25 | 50.0% | 48.0% | ||
| Q2 25 | 50.9% | 47.6% | ||
| Q1 25 | 49.4% | 49.3% | ||
| Q4 24 | 50.7% | 48.6% | ||
| Q3 24 | 53.1% | 48.8% | ||
| Q2 24 | 49.2% | 48.4% |
营业利润率MATZBRA
| Q1 26 | — | 14.4% | ||
| Q4 25 | 8.0% | 9.4% | ||
| Q3 25 | 21.9% | 13.9% | ||
| Q2 25 | 7.7% | 14.2% | ||
| Q1 25 | -6.4% | 14.9% | ||
| Q4 24 | 9.6% | 16.9% | ||
| Q3 24 | 26.5% | 15.2% | ||
| Q2 24 | 7.7% | 13.7% |
净利率MATZBRA
| Q1 26 | 7.1% | 9.0% | ||
| Q4 25 | 6.0% | 4.7% | ||
| Q3 25 | 16.0% | 7.7% | ||
| Q2 25 | 5.2% | 8.7% | ||
| Q1 25 | -4.9% | 10.4% | ||
| Q4 24 | 8.6% | 12.2% | ||
| Q3 24 | 20.2% | 10.9% | ||
| Q2 24 | 5.3% | 9.3% |
每股收益（稀释后）MATZBRA
| Q1 26 | $0.20 | $2.72 | ||
| Q4 25 | $0.32 | $1.40 | ||
| Q3 25 | $0.88 | $1.97 | ||
| Q2 25 | $0.16 | $2.19 | ||
| Q1 25 | $-0.12 | $2.62 | ||
| Q4 24 | $0.40 | $3.14 | ||
| Q3 24 | $1.09 | $2.64 | ||
| Q2 24 | $0.17 | $2.17 |
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 | $114.0M |
| 总债务越低越好 | $2.3B | $2.7B |
| 股东权益账面价值 | $2.1B | $3.5B |
| 总资产 | $6.3B | $8.3B |
| 负债/权益比越低杠杆越低 | 1.11× | 0.76× |
8季度趋势，按日历期对齐
现金及短期投资MATZBRA
| Q1 26 | $866.0M | $114.0M | ||
| Q4 25 | $1.2B | $125.0M | ||
| Q3 25 | $691.9M | $1.1B | ||
| Q2 25 | $870.5M | $872.0M | ||
| Q1 25 | $1.2B | $879.0M | ||
| Q4 24 | $1.4B | $901.0M | ||
| Q3 24 | $723.5M | $676.0M | ||
| Q2 24 | $722.4M | $411.0M |
总债务MATZBRA
| Q1 26 | $2.3B | $2.7B | ||
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.3B | $2.2B | ||
| Q2 25 | $2.3B | $2.2B | ||
| Q1 25 | $2.3B | $2.2B | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | $2.2B | ||
| Q2 24 | $2.3B | $2.2B |
股东权益MATZBRA
| Q1 26 | $2.1B | $3.5B | ||
| Q4 25 | $2.2B | $3.6B | ||
| Q3 25 | $2.3B | $3.7B | ||
| Q2 25 | $2.2B | $3.6B | ||
| Q1 25 | $2.1B | $3.6B | ||
| Q4 24 | $2.3B | $3.6B | ||
| Q3 24 | $2.3B | $3.4B | ||
| Q2 24 | $2.0B | $3.3B |
总资产MATZBRA
| Q1 26 | $6.3B | $8.3B | ||
| Q4 25 | $6.6B | $8.5B | ||
| Q3 25 | $6.6B | $8.1B | ||
| Q2 25 | $6.2B | $7.9B | ||
| Q1 25 | $6.2B | $7.9B | ||
| Q4 24 | $6.5B | $8.0B | ||
| Q3 24 | $6.5B | $7.7B | ||
| Q2 24 | $5.9B | $7.5B |
负债/权益比MATZBRA
| Q1 26 | 1.11× | 0.76× | ||
| Q4 25 | 1.04× | — | ||
| Q3 25 | 1.03× | 0.58× | ||
| Q2 25 | 1.08× | 0.60× | ||
| Q1 25 | 1.10× | 0.60× | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | 1.01× | 0.64× | ||
| Q2 24 | 1.18× | 0.66× |
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 | — | $176.0M |
| 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 | — | 1.30× |
| 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MATZBRA
| Q1 26 | — | $176.0M | ||
| Q4 25 | $796.6M | $357.0M | ||
| Q3 25 | $72.0M | $235.0M | ||
| Q2 25 | $-300.1M | $147.0M | ||
| Q1 25 | $24.8M | $178.0M | ||
| Q4 24 | $862.1M | $306.0M | ||
| Q3 24 | $155.8M | $294.0M | ||
| Q2 24 | $-252.9M | $288.0M |
自由现金流MATZBRA
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $327.0M | ||
| Q3 25 | — | $216.0M | ||
| Q2 25 | — | $130.0M | ||
| Q1 25 | — | $158.0M | ||
| Q4 24 | — | $288.0M | ||
| Q3 24 | — | $277.0M | ||
| Q2 24 | — | $278.0M |
自由现金流率MATZBRA
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | 22.2% | ||
| Q3 25 | — | 16.4% | ||
| Q2 25 | — | 10.1% | ||
| Q1 25 | — | 12.1% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | — | 22.1% | ||
| Q2 24 | — | 22.8% |
资本支出强度MATZBRA
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | — | 0.8% |
现金转化率MATZBRA
| Q1 26 | — | 1.30× | ||
| Q4 25 | 7.50× | 5.10× | ||
| Q3 25 | 0.26× | 2.33× | ||
| Q2 25 | -5.62× | 1.31× | ||
| Q1 25 | — | 1.31× | ||
| Q4 24 | 6.12× | 1.88× | ||
| Q3 24 | 0.42× | 2.15× | ||
| Q2 24 | -4.45× | 2.55× |
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
ZBRA
| Tangible products | $1.2B | 82% |
| Services and software | $264.0M | 18% |
