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Mativ Holdings, Inc.（MATV）与Madison Square Garden Sports Corp.（MSGS）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Madison Square Garden Sports Corp.的1.1倍（$463.1M vs $403.4M），Mativ Holdings, Inc.净利率更高（21.8% vs 2.0%，领先19.7%），Madison Square Garden Sports Corp.同比增速更快（12.8% vs 1.0%），Madison Square Garden Sports Corp.自由现金流更多（$31.6M vs $8.0M），过去两年Madison Square Garden Sports Corp.的营收复合增速更高（-3.1% vs -3.8%）
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。
麦迪逊广场花园体育公司是总部位于美国纽约市的专业体育控股企业，深耕职业体育俱乐部运营、体育IP开发管理等核心业务，在北美体育产业领域拥有深厚的行业积累与较高的市场知名度。
MATV vs MSGS — 直观对比
营收规模更大
MATV
是对方的1.1倍
$403.4M
营收增速更快
MSGS
高出11.8%
1.0%
净利率更高
MATV
高出19.7%
2.0%
自由现金流更多
MSGS
多$23.6M
$8.0M
两年增速更快
MSGS
近两年复合增速
-3.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $463.1M | $403.4M |
| 净利润 | $100.8M | $8.2M |
| 毛利率 | 18.8% | — |
| 营业利润率 | 2.2% | 5.5% |
| 净利率 | 21.8% | 2.0% |
| 营收同比 | 1.0% | 12.8% |
| 净利润同比 | 6620.0% | 641.9% |
| 每股收益（稀释后） | $1.87 | $0.34 |
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MATVMSGS
| Q4 25 | $463.1M | $403.4M | ||
| Q3 25 | $513.7M | $39.5M | ||
| Q2 25 | $525.4M | $204.0M | ||
| Q1 25 | $484.8M | $424.2M | ||
| Q4 24 | $458.6M | $357.8M | ||
| Q3 24 | $498.5M | $53.3M | ||
| Q2 24 | $523.8M | $227.3M | ||
| Q1 24 | $500.2M | $430.0M |
净利润MATVMSGS
| Q4 25 | $100.8M | $8.2M | ||
| Q3 25 | $-3.2M | $-8.8M | ||
| Q2 25 | $-9.5M | $-1.8M | ||
| Q1 25 | $-425.5M | $-14.2M | ||
| Q4 24 | $1.5M | $1.1M | ||
| Q3 24 | $-20.8M | $-7.5M | ||
| Q2 24 | $-1.4M | $25.5M | ||
| Q1 24 | $-28.0M | $37.9M |
毛利率MATVMSGS
| 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MATVMSGS
| Q4 25 | 2.2% | 5.5% | ||
| Q3 25 | 3.1% | -69.5% | ||
| Q2 25 | 3.8% | -11.1% | ||
| Q1 25 | -88.8% | 7.6% | ||
| Q4 24 | 0.6% | 3.7% | ||
| Q3 24 | 1.4% | -15.5% | ||
| Q2 24 | 2.0% | 23.0% | ||
| Q1 24 | -2.8% | 18.5% |
净利率MATVMSGS
| Q4 25 | 21.8% | 2.0% | ||
| Q3 25 | -0.6% | -22.3% | ||
| Q2 25 | -1.8% | -0.9% | ||
| Q1 25 | -87.8% | -3.4% | ||
| Q4 24 | 0.3% | 0.3% | ||
| Q3 24 | -4.2% | -14.1% | ||
| Q2 24 | -0.3% | 11.2% | ||
| Q1 24 | -5.6% | 8.8% |
每股收益（稀释后）MATVMSGS
| Q4 25 | $1.87 | $0.34 | ||
| Q3 25 | $-0.06 | $-0.37 | ||
| Q2 25 | $-0.18 | $-0.08 | ||
| Q1 25 | $-7.82 | $-0.59 | ||
| Q4 24 | $0.03 | $0.05 | ||
| Q3 24 | $-0.38 | $-0.31 | ||
| Q2 24 | $-0.03 | $1.07 | ||
| Q1 24 | $-0.52 | $1.57 |
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 | $81.3M |
| 总债务越低越好 | $1.0B | — |
| 股东权益账面价值 | $498.7M | $-282.1M |
| 总资产 | $2.1B | $1.5B |
| 负债/权益比越低杠杆越低 | 2.07× | — |
8季度趋势，按日历期对齐
现金及短期投资MATVMSGS
| Q4 25 | $84.2M | $81.3M | ||
| Q3 25 | $97.1M | $48.6M | ||
| Q2 25 | $95.6M | $144.6M | ||
| Q1 25 | $84.0M | $96.5M | ||
| Q4 24 | $94.3M | $107.8M | ||
| Q3 24 | $162.2M | $52.3M | ||
| Q2 24 | $133.4M | $89.1M | ||
| Q1 24 | $128.9M | $40.0M |
总债务MATVMSGS
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | — |
股东权益MATVMSGS
| Q4 25 | $498.7M | $-282.1M | ||
| Q3 25 | $397.4M | $-294.2M | ||
| Q2 25 | $416.6M | $-281.4M | ||
| Q1 25 | $428.2M | $-283.4M | ||
| Q4 24 | $858.5M | $-273.1M | ||
| Q3 24 | $882.3M | $-277.5M | ||
| Q2 24 | $898.0M | $-266.3M | ||
| Q1 24 | $906.9M | $-294.0M |
总资产MATVMSGS
| Q4 25 | $2.1B | $1.5B | ||
| Q3 25 | $2.0B | $1.5B | ||
| Q2 25 | $2.1B | $1.5B | ||
| Q1 25 | $2.1B | $1.5B | ||
| Q4 24 | $2.4B | $1.4B | ||
| Q3 24 | $2.6B | $1.4B | ||
| Q2 24 | $2.6B | $1.3B | ||
| Q1 24 | $2.7B | $1.4B |
负债/权益比MATVMSGS
| Q4 25 | 2.07× | — | ||
| Q3 25 | 2.63× | — | ||
| Q2 25 | 2.66× | — | ||
| Q1 25 | 2.67× | — | ||
| Q4 24 | 1.30× | — | ||
| Q3 24 | 1.32× | — | ||
| Q2 24 | 1.29× | — | ||
| Q1 24 | 1.30× | — |
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 | $32.4M |
| 自由现金流经营现金流 - 资本支出 | $8.0M | $31.6M |
| 自由现金流率自由现金流/营收 | 1.7% | 7.8% |
| 资本支出强度资本支出/营收 | 2.4% | 0.2% |
| 现金转化率经营现金流/净利润 | 0.19× | 3.94× |
| 过去12个月自由现金流最近4个季度 | $93.8M | $-480.0K |
8季度趋势，按日历期对齐
经营现金流MATVMSGS
| Q4 25 | $19.3M | $32.4M | ||
| Q3 25 | $72.8M | $-85.0M | ||
| Q2 25 | $57.6M | $49.7M | ||
| Q1 25 | $-15.9M | $6.3M | ||
| Q4 24 | $24.1M | $61.8M | ||
| Q3 24 | $37.6M | $-26.2M | ||
| Q2 24 | $46.1M | $108.4M | ||
| Q1 24 | $-13.0M | $4.0M |
自由现金流MATVMSGS
| Q4 25 | $8.0M | $31.6M | ||
| Q3 25 | $66.7M | $-85.3M | ||
| Q2 25 | $48.9M | $49.4M | ||
| Q1 25 | $-29.8M | $3.9M | ||
| Q4 24 | $2.0M | $61.2M | ||
| Q3 24 | $25.5M | $-26.5M | ||
| Q2 24 | $37.4M | $108.0M | ||
| Q1 24 | $-25.1M | $3.9M |
自由现金流率MATVMSGS
| Q4 25 | 1.7% | 7.8% | ||
| Q3 25 | 13.0% | -216.3% | ||
| Q2 25 | 9.3% | 24.2% | ||
| Q1 25 | -6.1% | 0.9% | ||
| Q4 24 | 0.4% | 17.1% | ||
| Q3 24 | 5.1% | -49.7% | ||
| Q2 24 | 7.1% | 47.5% | ||
| Q1 24 | -5.0% | 0.9% |
资本支出强度MATVMSGS
| Q4 25 | 2.4% | 0.2% | ||
| Q3 25 | 1.2% | 0.9% | ||
| Q2 25 | 1.7% | 0.2% | ||
| Q1 25 | 2.9% | 0.6% | ||
| Q4 24 | 4.8% | 0.1% | ||
| Q3 24 | 2.4% | 0.7% | ||
| Q2 24 | 1.7% | 0.2% | ||
| Q1 24 | 2.4% | 0.0% |
现金转化率MATVMSGS
| Q4 25 | 0.19× | 3.94× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 16.07× | 55.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 4.25× | ||
| Q1 24 | — | 0.11× |
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% |
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
