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Mativ Holdings, Inc.（MATV）与SPIRE INC（SR）财务数据对比。点击上方公司名可切换其他公司
SPIRE INC的季度营收约是Mativ Holdings, Inc.的1.6倍（$762.2M vs $463.1M），Mativ Holdings, Inc.净利率更高（21.8% vs 12.5%，领先9.3%），SPIRE INC同比增速更快（13.9% vs 1.0%），Mativ Holdings, Inc.自由现金流更多（$8.0M vs $-121.8M），过去两年Mativ Holdings, Inc.的营收复合增速更高（-3.8% vs -17.8%）
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。
Spire Inc是总部位于美国密苏里州圣路易斯的区域公用事业控股公司，核心业务为受监管的天然气供应服务，同时布局非监管类业务拓展商业机会。旗下主要子公司Laclede Gas Company是密苏里州最大的天然气分销公用事业企业，为圣路易斯市及密苏里州东部10个县的约63.1万户住宅、商业及工业客户提供服务。
MATV vs SR — 直观对比
营收规模更大
SR
是对方的1.6倍
$463.1M
营收增速更快
SR
高出12.9%
1.0%
净利率更高
MATV
高出9.3%
12.5%
自由现金流更多
MATV
多$129.8M
$-121.8M
两年增速更快
MATV
近两年复合增速
-17.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $463.1M | $762.2M |
| 净利润 | $100.8M | $95.0M |
| 毛利率 | 18.8% | 55.1% |
| 营业利润率 | 2.2% | 22.8% |
| 净利率 | 21.8% | 12.5% |
| 营收同比 | 1.0% | 13.9% |
| 净利润同比 | 6620.0% | 16.9% |
| 每股收益（稀释后） | $1.87 | $1.54 |
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MATVSR
| Q4 25 | $463.1M | $762.2M | ||
| Q3 25 | $513.7M | $334.1M | ||
| Q2 25 | $525.4M | $421.9M | ||
| Q1 25 | $484.8M | $1.1B | ||
| Q4 24 | $458.6M | $669.1M | ||
| Q3 24 | $498.5M | $293.8M | ||
| Q2 24 | $523.8M | $414.1M | ||
| Q1 24 | $500.2M | $1.1B |
净利润MATVSR
| Q4 25 | $100.8M | $95.0M | ||
| Q3 25 | $-3.2M | $-39.8M | ||
| Q2 25 | $-9.5M | $20.9M | ||
| Q1 25 | $-425.5M | $209.3M | ||
| Q4 24 | $1.5M | $81.3M | ||
| Q3 24 | $-20.8M | $-25.9M | ||
| Q2 24 | $-1.4M | $-12.6M | ||
| Q1 24 | $-28.0M | $204.3M |
毛利率MATVSR
| Q4 25 | 18.8% | 55.1% | ||
| Q3 25 | 19.3% | — | ||
| Q2 25 | 19.7% | — | ||
| Q1 25 | 15.0% | — | ||
| Q4 24 | 16.9% | 55.6% | ||
| Q3 24 | 18.8% | — | ||
| Q2 24 | 20.8% | — | ||
| Q1 24 | 16.8% | — |
营业利润率MATVSR
| Q4 25 | 2.2% | 22.8% | ||
| Q3 25 | 3.1% | -0.1% | ||
| Q2 25 | 3.8% | 16.4% | ||
| Q1 25 | -88.8% | 29.1% | ||
| Q4 24 | 0.6% | 22.2% | ||
| Q3 24 | 1.4% | 6.7% | ||
| Q2 24 | 2.0% | 7.4% | ||
| Q1 24 | -2.8% | 26.5% |
净利率MATVSR
| Q4 25 | 21.8% | 12.5% | ||
| Q3 25 | -0.6% | -11.9% | ||
| Q2 25 | -1.8% | 5.0% | ||
| Q1 25 | -87.8% | 19.9% | ||
| Q4 24 | 0.3% | 12.2% | ||
| Q3 24 | -4.2% | -8.8% | ||
| Q2 24 | -0.3% | -3.0% | ||
| Q1 24 | -5.6% | 18.1% |
每股收益（稀释后）MATVSR
| Q4 25 | $1.87 | $1.54 | ||
| Q3 25 | $-0.06 | $-0.77 | ||
| Q2 25 | $-0.18 | $0.29 | ||
| Q1 25 | $-7.82 | $3.51 | ||
| Q4 24 | $0.03 | $1.34 | ||
| Q3 24 | $-0.38 | $-0.63 | ||
| Q2 24 | $-0.03 | $-0.28 | ||
| Q1 24 | $-0.52 | $3.58 |
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 | $4.1M |
| 总债务越低越好 | $1.0B | — |
| 股东权益账面价值 | $498.7M | $3.4B |
| 总资产 | $2.1B | $11.9B |
| 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MATVSR
| Q4 25 | $84.2M | $4.1M | ||
| Q3 25 | $97.1M | $5.7M | ||
| Q2 25 | $95.6M | $13.1M | ||
| Q1 25 | $84.0M | $15.2M | ||
| Q4 24 | $94.3M | $11.5M | ||
| Q3 24 | $162.2M | $4.5M | ||
| Q2 24 | $133.4M | $7.4M | ||
| Q1 24 | $128.9M | $25.6M |
总债务MATVSR
| 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MATVSR
| Q4 25 | $498.7M | $3.4B | ||
| Q3 25 | $397.4M | $3.4B | ||
| Q2 25 | $416.6M | $3.5B | ||
| Q1 25 | $428.2M | $3.5B | ||
| Q4 24 | $858.5M | $3.3B | ||
| Q3 24 | $882.3M | $3.2B | ||
| Q2 24 | $898.0M | $3.3B | ||
| Q1 24 | $906.9M | $3.4B |
总资产MATVSR
| Q4 25 | $2.1B | $11.9B | ||
| Q3 25 | $2.0B | $11.6B | ||
| Q2 25 | $2.1B | $11.4B | ||
| Q1 25 | $2.1B | $11.3B | ||
| Q4 24 | $2.4B | $11.3B | ||
| Q3 24 | $2.6B | $10.9B | ||
| Q2 24 | $2.6B | $10.7B | ||
| Q1 24 | $2.7B | $10.7B |
负债/权益比MATVSR
| 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 | $81.0M |
| 自由现金流经营现金流 - 资本支出 | $8.0M | $-121.8M |
| 自由现金流率自由现金流/营收 | 1.7% | -16.0% |
| 资本支出强度资本支出/营收 | 2.4% | 26.6% |
| 现金转化率经营现金流/净利润 | 0.19× | 0.85× |
| 过去12个月自由现金流最近4个季度 | $93.8M | $-286.7M |
8季度趋势，按日历期对齐
经营现金流MATVSR
| Q4 25 | $19.3M | $81.0M | ||
| Q3 25 | $72.8M | $-4.9M | ||
| Q2 25 | $57.6M | $129.1M | ||
| Q1 25 | $-15.9M | $372.7M | ||
| Q4 24 | $24.1M | $81.1M | ||
| Q3 24 | $37.6M | $82.9M | ||
| Q2 24 | $46.1M | $270.1M | ||
| Q1 24 | $-13.0M | $489.4M |
自由现金流MATVSR
| Q4 25 | $8.0M | $-121.8M | ||
| Q3 25 | $66.7M | $-227.6M | ||
| Q2 25 | $48.9M | $-91.4M | ||
| Q1 25 | $-29.8M | $154.1M | ||
| Q4 24 | $2.0M | $-179.5M | ||
| Q3 24 | $25.5M | $-146.9M | ||
| Q2 24 | $37.4M | $47.9M | ||
| Q1 24 | $-25.1M | $306.6M |
自由现金流率MATVSR
| Q4 25 | 1.7% | -16.0% | ||
| Q3 25 | 13.0% | -68.1% | ||
| Q2 25 | 9.3% | -21.7% | ||
| Q1 25 | -6.1% | 14.7% | ||
| Q4 24 | 0.4% | -26.8% | ||
| Q3 24 | 5.1% | -50.0% | ||
| Q2 24 | 7.1% | 11.6% | ||
| Q1 24 | -5.0% | 27.2% |
资本支出强度MATVSR
| Q4 25 | 2.4% | 26.6% | ||
| Q3 25 | 1.2% | 66.7% | ||
| Q2 25 | 1.7% | 52.3% | ||
| Q1 25 | 2.9% | 20.8% | ||
| Q4 24 | 4.8% | 38.9% | ||
| Q3 24 | 2.4% | 78.2% | ||
| Q2 24 | 1.7% | 53.7% | ||
| Q1 24 | 2.4% | 16.2% |
现金转化率MATVSR
| Q4 25 | 0.19× | 0.85× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 6.18× | ||
| Q1 25 | — | 1.78× | ||
| Q4 24 | 16.07× | 1.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.40× |
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% |
SR
| Residential | $474.9M | 62% |
| Commercial And Industrial | $148.4M | 19% |
| Gas Marketing | $41.1M | 5% |
| Midstream | $39.0M | 5% |
| Transportation | $37.1M | 5% |
| Offsystem And Other Inventive | $19.7M | 3% |
| Other Customer Revenue | $4.6M | 1% |
