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Mativ Holdings, Inc.（MATV）与SUBURBAN PROPANE PARTNERS LP（SPH）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SUBURBAN PROPANE PARTNERS LP的1.3倍（$463.1M vs $370.4M），Mativ Holdings, Inc.净利率更高（21.8% vs 12.4%，领先9.4%），Mativ Holdings, Inc.同比增速更快（1.0% vs -0.8%），Mativ Holdings, Inc.自由现金流更多（$8.0M vs $-67.5M），过去两年Mativ Holdings, Inc.的营收复合增速更高（-3.8% vs -13.8%）
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。
Suburban Propane Partners LP是美国领先的丙烷、天然气、取暖油及相关能源产品分销商，服务覆盖住宅、商业、工业、农业等各类客户，同时提供暖通空调系统的安装、维护与维修服务，业务范围遍布全美。
MATV vs SPH — 直观对比
营收规模更大
MATV
是对方的1.3倍
$370.4M
营收增速更快
MATV
高出1.8%
-0.8%
净利率更高
MATV
高出9.4%
12.4%
自由现金流更多
MATV
多$75.5M
$-67.5M
两年增速更快
MATV
近两年复合增速
-13.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $463.1M | $370.4M |
| 净利润 | $100.8M | $45.8M |
| 毛利率 | 18.8% | 64.7% |
| 营业利润率 | 2.2% | 18.3% |
| 净利率 | 21.8% | 12.4% |
| 营收同比 | 1.0% | -0.8% |
| 净利润同比 | 6620.0% | 135.7% |
| 每股收益（稀释后） | $1.87 | $0.69 |
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MATVSPH
| Q4 25 | $463.1M | $370.4M | ||
| Q3 25 | $513.7M | $211.4M | ||
| Q2 25 | $525.4M | $260.1M | ||
| Q1 25 | $484.8M | $587.7M | ||
| Q4 24 | $458.6M | $373.3M | ||
| Q3 24 | $498.5M | $208.6M | ||
| Q2 24 | $523.8M | $254.6M | ||
| Q1 24 | $500.2M | $498.1M |
净利润MATVSPH
| Q4 25 | $100.8M | $45.8M | ||
| Q3 25 | $-3.2M | $-35.1M | ||
| Q2 25 | $-9.5M | $-14.8M | ||
| Q1 25 | $-425.5M | $137.1M | ||
| Q4 24 | $1.5M | $19.4M | ||
| Q3 24 | $-20.8M | $-44.6M | ||
| Q2 24 | $-1.4M | $-17.2M | ||
| Q1 24 | $-28.0M | $111.5M |
毛利率MATVSPH
| Q4 25 | 18.8% | 64.7% | ||
| Q3 25 | 19.3% | 64.7% | ||
| Q2 25 | 19.7% | 61.7% | ||
| Q1 25 | 15.0% | 58.8% | ||
| Q4 24 | 16.9% | 60.6% | ||
| Q3 24 | 18.8% | 59.4% | ||
| Q2 24 | 20.8% | 62.9% | ||
| Q1 24 | 16.8% | 61.8% |
营业利润率MATVSPH
| Q4 25 | 2.2% | 18.3% | ||
| Q3 25 | 3.1% | -7.9% | ||
| Q2 25 | 3.8% | 2.1% | ||
| Q1 25 | -88.8% | 27.0% | ||
| Q4 24 | 0.6% | 15.8% | ||
| Q3 24 | 1.4% | -10.8% | ||
| Q2 24 | 2.0% | 3.2% | ||
| Q1 24 | -2.8% | 27.5% |
净利率MATVSPH
| Q4 25 | 21.8% | 12.4% | ||
| Q3 25 | -0.6% | -16.6% | ||
| Q2 25 | -1.8% | -5.7% | ||
| Q1 25 | -87.8% | 23.3% | ||
| Q4 24 | 0.3% | 5.2% | ||
| Q3 24 | -4.2% | -21.4% | ||
| Q2 24 | -0.3% | -6.8% | ||
| Q1 24 | -5.6% | 22.4% |
每股收益（稀释后）MATVSPH
| Q4 25 | $1.87 | $0.69 | ||
| Q3 25 | $-0.06 | $-0.55 | ||
| Q2 25 | $-0.18 | $-0.23 | ||
| Q1 25 | $-7.82 | $2.10 | ||
| Q4 24 | $0.03 | $0.30 | ||
| Q3 24 | $-0.38 | $-0.69 | ||
| Q2 24 | $-0.03 | $-0.27 | ||
| Q1 24 | $-0.52 | $1.72 |
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 | $1.3M |
| 总债务越低越好 | $1.0B | $1.3B |
| 股东权益账面价值 | $498.7M | — |
| 总资产 | $2.1B | $2.4B |
| 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MATVSPH
| Q4 25 | $84.2M | $1.3M | ||
| Q3 25 | $97.1M | $405.0K | ||
| Q2 25 | $95.6M | $1.3M | ||
| Q1 25 | $84.0M | $3.9M | ||
| Q4 24 | $94.3M | $4.4M | ||
| Q3 24 | $162.2M | $3.2M | ||
| Q2 24 | $133.4M | $4.9M | ||
| Q1 24 | $128.9M | $4.4M |
总债务MATVSPH
| Q4 25 | $1.0B | $1.3B | ||
| Q3 25 | $1.0B | $1.2B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $1.2B | $1.2B | ||
| Q1 24 | $1.2B | $1.2B |
股东权益MATVSPH
| Q4 25 | $498.7M | — | ||
| Q3 25 | $397.4M | — | ||
| Q2 25 | $416.6M | — | ||
| Q1 25 | $428.2M | — | ||
| Q4 24 | $858.5M | — | ||
| Q3 24 | $882.3M | — | ||
| Q2 24 | $898.0M | — | ||
| Q1 24 | $906.9M | — |
总资产MATVSPH
| Q4 25 | $2.1B | $2.4B | ||
| Q3 25 | $2.0B | $2.3B | ||
| Q2 25 | $2.1B | $2.3B | ||
| Q1 25 | $2.1B | $2.4B | ||
| Q4 24 | $2.4B | $2.4B | ||
| Q3 24 | $2.6B | $2.3B | ||
| Q2 24 | $2.6B | $2.3B | ||
| Q1 24 | $2.7B | $2.3B |
负债/权益比MATVSPH
| 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 | $-47.7M |
| 自由现金流经营现金流 - 资本支出 | $8.0M | $-67.5M |
| 自由现金流率自由现金流/营收 | 1.7% | -18.2% |
| 资本支出强度资本支出/营收 | 2.4% | 5.3% |
| 现金转化率经营现金流/净利润 | 0.19× | -1.04× |
| 过去12个月自由现金流最近4个季度 | $93.8M | $61.9M |
8季度趋势，按日历期对齐
经营现金流MATVSPH
| Q4 25 | $19.3M | $-47.7M | ||
| Q3 25 | $72.8M | $41.8M | ||
| Q2 25 | $57.6M | $95.5M | ||
| Q1 25 | $-15.9M | $40.1M | ||
| Q4 24 | $24.1M | $8.8M | ||
| Q3 24 | $37.6M | $36.8M | ||
| Q2 24 | $46.1M | $61.4M | ||
| Q1 24 | $-13.0M | $75.1M |
自由现金流MATVSPH
| Q4 25 | $8.0M | $-67.5M | ||
| Q3 25 | $66.7M | $27.7M | ||
| Q2 25 | $48.9M | $80.9M | ||
| Q1 25 | $-29.8M | $20.8M | ||
| Q4 24 | $2.0M | $-15.1M | ||
| Q3 24 | $25.5M | $17.7M | ||
| Q2 24 | $37.4M | $46.8M | ||
| Q1 24 | $-25.1M | $60.6M |
自由现金流率MATVSPH
| Q4 25 | 1.7% | -18.2% | ||
| Q3 25 | 13.0% | 13.1% | ||
| Q2 25 | 9.3% | 31.1% | ||
| Q1 25 | -6.1% | 3.5% | ||
| Q4 24 | 0.4% | -4.0% | ||
| Q3 24 | 5.1% | 8.5% | ||
| Q2 24 | 7.1% | 18.4% | ||
| Q1 24 | -5.0% | 12.2% |
资本支出强度MATVSPH
| Q4 25 | 2.4% | 5.3% | ||
| Q3 25 | 1.2% | 6.7% | ||
| Q2 25 | 1.7% | 5.6% | ||
| Q1 25 | 2.9% | 3.3% | ||
| Q4 24 | 4.8% | 6.4% | ||
| Q3 24 | 2.4% | 9.1% | ||
| Q2 24 | 1.7% | 5.8% | ||
| Q1 24 | 2.4% | 2.9% |
现金转化率MATVSPH
| Q4 25 | 0.19× | -1.04× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.29× | ||
| Q4 24 | 16.07× | 0.45× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.67× |
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% |
SPH
| Propane | $326.4M | 88% |
| Other Sales Revenue Net | $19.9M | 5% |
| Fuel Oil And Refined Fuels | $18.2M | 5% |
| Natural Gas And Electricity | $5.9M | 2% |
| Wholesale | $4.1M | 1% |
