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Mativ Holdings, Inc.（MATV）与SBA Communications（SBAC）财务数据对比。点击上方公司名可切换其他公司
SBA Communications的季度营收约是Mativ Holdings, Inc.的1.5倍（$703.4M vs $463.1M），SBA Communications净利率更高（26.3% vs 21.8%，领先4.5%），Mativ Holdings, Inc.同比增速更快（1.0% vs -1.6%），过去两年SBA Communications的营收复合增速更高（3.2% 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。
SBA Communications是一家房地产投资信托企业，核心业务为持有、运营无线通信基础设施，市场覆盖美国、加拿大、中南美洲及南非地区。公司由Steven Bernstein于1989年创立，前身为Steven Bernstein and Associates。
MATV vs SBAC — 直观对比
营收规模更大
SBAC
是对方的1.5倍
$463.1M
营收增速更快
MATV
高出2.5%
-1.6%
净利率更高
SBAC
高出4.5%
21.8%
两年增速更快
SBAC
近两年复合增速
-3.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $463.1M | $703.4M |
| 净利润 | $100.8M | $184.9M |
| 毛利率 | 18.8% | — |
| 营业利润率 | 2.2% | 48.7% |
| 净利率 | 21.8% | 26.3% |
| 营收同比 | 1.0% | -1.6% |
| 净利润同比 | 6620.0% | -15.1% |
| 每股收益（稀释后） | $1.87 | $1.74 |
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MATVSBAC
| Q1 26 | — | $703.4M | ||
| Q4 25 | $463.1M | $719.6M | ||
| Q3 25 | $513.7M | $732.3M | ||
| Q2 25 | $525.4M | $699.0M | ||
| Q1 25 | $484.8M | $664.2M | ||
| Q4 24 | $458.6M | $693.7M | ||
| Q3 24 | $498.5M | $667.6M | ||
| Q2 24 | $523.8M | $660.5M |
净利润MATVSBAC
| Q1 26 | — | $184.9M | ||
| Q4 25 | $100.8M | $370.4M | ||
| Q3 25 | $-3.2M | $236.8M | ||
| Q2 25 | $-9.5M | $225.8M | ||
| Q1 25 | $-425.5M | $220.7M | ||
| Q4 24 | $1.5M | $178.8M | ||
| Q3 24 | $-20.8M | $258.5M | ||
| Q2 24 | $-1.4M | $162.8M |
毛利率MATVSBAC
| Q1 26 | — | — | ||
| Q4 25 | 18.8% | 75.6% | ||
| Q3 25 | 19.3% | 74.1% | ||
| Q2 25 | 19.7% | 75.4% | ||
| Q1 25 | 15.0% | 76.9% | ||
| Q4 24 | 16.9% | 78.1% | ||
| Q3 24 | 18.8% | 77.5% | ||
| Q2 24 | 20.8% | 78.6% |
营业利润率MATVSBAC
| Q1 26 | — | 48.7% | ||
| Q4 25 | 2.2% | 41.5% | ||
| Q3 25 | 3.1% | 51.1% | ||
| Q2 25 | 3.8% | 47.9% | ||
| Q1 25 | -88.8% | 50.4% | ||
| Q4 24 | 0.6% | 55.1% | ||
| Q3 24 | 1.4% | 56.3% | ||
| Q2 24 | 2.0% | 53.7% |
净利率MATVSBAC
| Q1 26 | — | 26.3% | ||
| Q4 25 | 21.8% | 51.5% | ||
| Q3 25 | -0.6% | 32.3% | ||
| Q2 25 | -1.8% | 32.3% | ||
| Q1 25 | -87.8% | 33.2% | ||
| Q4 24 | 0.3% | 25.8% | ||
| Q3 24 | -4.2% | 38.7% | ||
| Q2 24 | -0.3% | 24.7% |
每股收益（稀释后）MATVSBAC
| Q1 26 | — | $1.74 | ||
| Q4 25 | $1.87 | $3.47 | ||
| Q3 25 | $-0.06 | $2.20 | ||
| Q2 25 | $-0.18 | $2.09 | ||
| Q1 25 | $-7.82 | $2.04 | ||
| Q4 24 | $0.03 | $1.61 | ||
| Q3 24 | $-0.38 | $2.40 | ||
| Q2 24 | $-0.03 | $1.51 |
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 | $269.1M |
| 总债务越低越好 | $1.0B | $2.7B |
| 股东权益账面价值 | $498.7M | — |
| 总资产 | $2.1B | $11.7B |
| 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MATVSBAC
| Q1 26 | — | $269.1M | ||
| Q4 25 | $84.2M | $271.2M | ||
| Q3 25 | $97.1M | $431.1M | ||
| Q2 25 | $95.6M | $276.8M | ||
| Q1 25 | $84.0M | $702.2M | ||
| Q4 24 | $94.3M | $444.4M | ||
| Q3 24 | $162.2M | $202.6M | ||
| Q2 24 | $133.4M | $250.9M |
总债务MATVSBAC
| Q1 26 | — | $2.7B | ||
| Q4 25 | $1.0B | $12.9B | ||
| Q3 25 | $1.0B | $12.7B | ||
| Q2 25 | $1.1B | $12.5B | ||
| Q1 25 | $1.1B | $12.4B | ||
| Q4 24 | $1.1B | $13.6B | ||
| Q3 24 | $1.2B | $12.3B | ||
| Q2 24 | $1.2B | $12.3B |
股东权益MATVSBAC
| Q1 26 | — | — | ||
| Q4 25 | $498.7M | $-4.9B | ||
| Q3 25 | $397.4M | $-4.9B | ||
| Q2 25 | $416.6M | $-4.9B | ||
| Q1 25 | $428.2M | $-5.0B | ||
| Q4 24 | $858.5M | $-5.1B | ||
| Q3 24 | $882.3M | $-5.2B | ||
| Q2 24 | $898.0M | $-5.3B |
总资产MATVSBAC
| Q1 26 | — | $11.7B | ||
| Q4 25 | $2.1B | $11.6B | ||
| Q3 25 | $2.0B | $11.3B | ||
| Q2 25 | $2.1B | $10.8B | ||
| Q1 25 | $2.1B | $10.4B | ||
| Q4 24 | $2.4B | $11.4B | ||
| Q3 24 | $2.6B | $10.2B | ||
| Q2 24 | $2.6B | $9.8B |
负债/权益比MATVSBAC
| Q1 26 | — | — | ||
| 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× | — |
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 | $255.1M |
| 自由现金流经营现金流 - 资本支出 | $8.0M | — |
| 自由现金流率自由现金流/营收 | 1.7% | — |
| 资本支出强度资本支出/营收 | 2.4% | 9.5% |
| 现金转化率经营现金流/净利润 | 0.19× | 1.38× |
| 过去12个月自由现金流最近4个季度 | $93.8M | — |
8季度趋势，按日历期对齐
经营现金流MATVSBAC
| Q1 26 | — | $255.1M | ||
| Q4 25 | $19.3M | $1.3B | ||
| Q3 25 | $72.8M | $318.0M | ||
| Q2 25 | $57.6M | $368.1M | ||
| Q1 25 | $-15.9M | $301.2M | ||
| Q4 24 | $24.1M | $1.3B | ||
| Q3 24 | $37.6M | $304.7M | ||
| Q2 24 | $46.1M | $425.6M |
自由现金流MATVSBAC
| Q1 26 | — | — | ||
| Q4 25 | $8.0M | $833.3M | ||
| Q3 25 | $66.7M | $258.0M | ||
| Q2 25 | $48.9M | $312.2M | ||
| Q1 25 | $-29.8M | $255.0M | ||
| Q4 24 | $2.0M | $1.2B | ||
| Q3 24 | $25.5M | $239.9M | ||
| Q2 24 | $37.4M | $375.6M |
自由现金流率MATVSBAC
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 115.8% | ||
| Q3 25 | 13.0% | 35.2% | ||
| Q2 25 | 9.3% | 44.7% | ||
| Q1 25 | -6.1% | 38.4% | ||
| Q4 24 | 0.4% | 179.9% | ||
| Q3 24 | 5.1% | 35.9% | ||
| Q2 24 | 7.1% | 56.9% |
资本支出强度MATVSBAC
| Q1 26 | — | 9.5% | ||
| Q4 25 | 2.4% | 63.7% | ||
| Q3 25 | 1.2% | 8.2% | ||
| Q2 25 | 1.7% | 8.0% | ||
| Q1 25 | 2.9% | 7.0% | ||
| Q4 24 | 4.8% | 12.6% | ||
| Q3 24 | 2.4% | 9.7% | ||
| Q2 24 | 1.7% | 7.6% |
现金转化率MATVSBAC
| Q1 26 | — | 1.38× | ||
| Q4 25 | 0.19× | 3.49× | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | — | 1.63× | ||
| Q1 25 | — | 1.36× | ||
| Q4 24 | 16.07× | 7.47× | ||
| Q3 24 | — | 1.18× | ||
| Q2 24 | — | 2.61× |
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% |
SBAC
| Site leasing | $656.1M | 93% |
| Site development | $47.3M | 7% |
