vs
Mativ Holdings, Inc.（MATV）与美世（MERC）财务数据对比。点击上方公司名可切换其他公司
Mativ Holdings, Inc.的季度营收约是美世的1.0倍（$463.1M vs $449.5M），Mativ Holdings, Inc.净利率更高（21.8% vs -68.7%，领先90.4%），Mativ Holdings, Inc.同比增速更快（1.0% vs -8.0%），美世自由现金流更多（$32.0M vs $8.0M），过去两年Mativ Holdings, Inc.的营收复合增速更高（-3.8% vs -9.9%）
Mativ Holdings是一家全球特种材料制造商，主要生产高性能先进聚合物、无纺布、过滤解决方案及功能性涂层材料，服务医疗、工业、消费品、航空航天、能源等领域，业务遍及北美、欧洲及亚太地区。
美世是1945年成立的美国咨询公司，为全球专业服务集团威达信的四大运营子公司之一，总部位于纽约，在43个国家设有办事处，业务覆盖130个国家，主要为客户提供人力资源与金融咨询服务。
MATV vs MERC — 直观对比
营收规模更大
MATV
是对方的1.0倍
$449.5M
营收增速更快
MATV
高出8.9%
-8.0%
净利率更高
MATV
高出90.4%
-68.7%
自由现金流更多
MERC
多$24.0M
$8.0M
两年增速更快
MATV
近两年复合增速
-9.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $463.1M | $449.5M |
| 净利润 | $100.8M | $-308.7M |
| 毛利率 | 18.8% | — |
| 营业利润率 | 2.2% | -62.0% |
| 净利率 | 21.8% | -68.7% |
| 营收同比 | 1.0% | -8.0% |
| 净利润同比 | 6620.0% | -1947.7% |
| 每股收益（稀释后） | $1.87 | $-4.61 |
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MATVMERC
| Q4 25 | $463.1M | $449.5M | ||
| Q3 25 | $513.7M | $458.1M | ||
| Q2 25 | $525.4M | $453.5M | ||
| Q1 25 | $484.8M | $507.0M | ||
| Q4 24 | $458.6M | $488.4M | ||
| Q3 24 | $498.5M | $502.1M | ||
| Q2 24 | $523.8M | $499.4M | ||
| Q1 24 | $500.2M | $553.4M |
净利润MATVMERC
| Q4 25 | $100.8M | $-308.7M | ||
| Q3 25 | $-3.2M | $-80.8M | ||
| Q2 25 | $-9.5M | $-86.1M | ||
| Q1 25 | $-425.5M | $-22.3M | ||
| Q4 24 | $1.5M | $16.7M | ||
| Q3 24 | $-20.8M | $-17.6M | ||
| Q2 24 | $-1.4M | $-67.6M | ||
| Q1 24 | $-28.0M | $-16.7M |
毛利率MATVMERC
| Q4 25 | 18.8% | — | ||
| Q3 25 | 19.3% | — | ||
| Q2 25 | 19.7% | — | ||
| Q1 25 | 15.0% | — | ||
| Q4 24 | 16.9% | — | ||
| Q3 24 | 18.8% | — | ||
| Q2 24 | 20.8% | — | ||
| Q1 24 | 16.8% | — |
营业利润率MATVMERC
| Q4 25 | 2.2% | -62.0% | ||
| Q3 25 | 3.1% | -14.8% | ||
| Q2 25 | 3.8% | -12.9% | ||
| Q1 25 | -88.8% | 1.3% | ||
| Q4 24 | 0.6% | 10.3% | ||
| Q3 24 | 1.4% | 1.8% | ||
| Q2 24 | 2.0% | -8.8% | ||
| Q1 24 | -2.8% | -0.1% |
净利率MATVMERC
| Q4 25 | 21.8% | -68.7% | ||
| Q3 25 | -0.6% | -17.6% | ||
| Q2 25 | -1.8% | -19.0% | ||
| Q1 25 | -87.8% | -4.4% | ||
| Q4 24 | 0.3% | 3.4% | ||
| Q3 24 | -4.2% | -3.5% | ||
| Q2 24 | -0.3% | -13.5% | ||
| Q1 24 | -5.6% | -3.0% |
每股收益（稀释后）MATVMERC
| Q4 25 | $1.87 | $-4.61 | ||
| Q3 25 | $-0.06 | $-1.21 | ||
| Q2 25 | $-0.18 | $-1.29 | ||
| Q1 25 | $-7.82 | $-0.33 | ||
| Q4 24 | $0.03 | $0.25 | ||
| Q3 24 | $-0.38 | $-0.26 | ||
| Q2 24 | $-0.03 | $-1.01 | ||
| Q1 24 | $-0.52 | $-0.25 |
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 | $84.2M | $186.8M |
| 总债务越低越好 | $1.0B | $1.6B |
| 股东权益账面价值 | $498.7M | $68.1M |
| 总资产 | $2.1B | $2.0B |
| 负债/权益比越低杠杆越低 | 2.07× | 23.58× |
8季度趋势，按日历期对齐
现金及短期投资MATVMERC
| Q4 25 | $84.2M | $186.8M | ||
| Q3 25 | $97.1M | $98.1M | ||
| Q2 25 | $95.6M | $146.5M | ||
| Q1 25 | $84.0M | $181.5M | ||
| Q4 24 | $94.3M | $184.9M | ||
| Q3 24 | $162.2M | $239.0M | ||
| Q2 24 | $133.4M | $263.2M | ||
| Q1 24 | $128.9M | $274.3M |
总债务MATVMERC
| Q4 25 | $1.0B | $1.6B | ||
| Q3 25 | $1.0B | $1.5B | ||
| Q2 25 | $1.1B | $1.5B | ||
| Q1 25 | $1.1B | $1.5B | ||
| Q4 24 | $1.1B | $1.5B | ||
| Q3 24 | $1.2B | $1.6B | ||
| Q2 24 | $1.2B | $1.6B | ||
| Q1 24 | $1.2B | $1.6B |
股东权益MATVMERC
| Q4 25 | $498.7M | $68.1M | ||
| Q3 25 | $397.4M | $359.5M | ||
| Q2 25 | $416.6M | $446.5M | ||
| Q1 25 | $428.2M | $437.4M | ||
| Q4 24 | $858.5M | $429.8M | ||
| Q3 24 | $882.3M | $516.8M | ||
| Q2 24 | $898.0M | $487.7M | ||
| Q1 24 | $906.9M | $573.6M |
总资产MATVMERC
| Q4 25 | $2.1B | $2.0B | ||
| Q3 25 | $2.0B | $2.3B | ||
| Q2 25 | $2.1B | $2.4B | ||
| Q1 25 | $2.1B | $2.3B | ||
| Q4 24 | $2.4B | $2.3B | ||
| Q3 24 | $2.6B | $2.5B | ||
| Q2 24 | $2.6B | $2.5B | ||
| Q1 24 | $2.7B | $2.6B |
负债/权益比MATVMERC
| Q4 25 | 2.07× | 23.58× | ||
| Q3 25 | 2.63× | 4.30× | ||
| Q2 25 | 2.66× | 3.42× | ||
| Q1 25 | 2.67× | 3.44× | ||
| Q4 24 | 1.30× | 3.43× | ||
| Q3 24 | 1.32× | 3.09× | ||
| Q2 24 | 1.29× | 3.22× | ||
| Q1 24 | 1.30× | 2.82× |
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 | $19.3M | $46.2M |
| 自由现金流经营现金流 - 资本支出 | $8.0M | $32.0M |
| 自由现金流率自由现金流/营收 | 1.7% | 7.1% |
| 资本支出强度资本支出/营收 | 2.4% | 3.1% |
| 现金转化率经营现金流/净利润 | 0.19× | — |
| 过去12个月自由现金流最近4个季度 | $93.8M | $-80.0M |
8季度趋势，按日历期对齐
经营现金流MATVMERC
| Q4 25 | $19.3M | $46.2M | ||
| Q3 25 | $72.8M | $-30.1M | ||
| Q2 25 | $57.6M | $-4.5M | ||
| Q1 25 | $-15.9M | $-3.0M | ||
| Q4 24 | $24.1M | $71.2M | ||
| Q3 24 | $37.6M | $-13.9M | ||
| Q2 24 | $46.1M | $62.2M | ||
| Q1 24 | $-13.0M | $-29.2M |
自由现金流MATVMERC
| Q4 25 | $8.0M | $32.0M | ||
| Q3 25 | $66.7M | $-60.1M | ||
| Q2 25 | $48.9M | $-28.9M | ||
| Q1 25 | $-29.8M | $-23.1M | ||
| Q4 24 | $2.0M | $50.4M | ||
| Q3 24 | $25.5M | $-41.2M | ||
| Q2 24 | $37.4M | $44.3M | ||
| Q1 24 | $-25.1M | $-47.7M |
自由现金流率MATVMERC
| Q4 25 | 1.7% | 7.1% | ||
| Q3 25 | 13.0% | -13.1% | ||
| Q2 25 | 9.3% | -6.4% | ||
| Q1 25 | -6.1% | -4.6% | ||
| Q4 24 | 0.4% | 10.3% | ||
| Q3 24 | 5.1% | -8.2% | ||
| Q2 24 | 7.1% | 8.9% | ||
| Q1 24 | -5.0% | -8.6% |
资本支出强度MATVMERC
| Q4 25 | 2.4% | 3.1% | ||
| Q3 25 | 1.2% | 6.6% | ||
| Q2 25 | 1.7% | 5.4% | ||
| Q1 25 | 2.9% | 4.0% | ||
| Q4 24 | 4.8% | 4.2% | ||
| Q3 24 | 2.4% | 5.4% | ||
| Q2 24 | 1.7% | 3.6% | ||
| Q1 24 | 2.4% | 3.3% |
现金转化率MATVMERC
| Q4 25 | 0.19× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 16.07× | 4.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
MATV
| Other | $208.7M | 45% |
| SAS Segment | $157.4M | 34% |
| FAM Segment | $97.0M | 21% |
MERC
| Other | $215.3M | 48% |
| Solid Wood | $110.2M | 25% |
| Lumber | $54.9M | 12% |
| Pallets | $23.7M | 5% |
| Energyandchemicals | $18.7M | 4% |
| Manufactured Products | $14.1M | 3% |
| Biofuels | $10.0M | 2% |
| Wood Residuals | $2.6M | 1% |
