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Mativ Holdings, Inc.（MATV）与USA Compression Partners, LP（USAC）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USA Compression Partners, LP的1.8倍（$463.1M vs $252.5M），Mativ Holdings, Inc.净利率更高（21.8% vs 11.0%，领先10.8%），USA Compression Partners, LP同比增速更快（2.7% vs 1.0%），USA Compression Partners, LP自由现金流更多（$87.7M vs $8.0M），过去两年USA Compression Partners, LP的营收复合增速更高（4.9% 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。
USA Compression Partners, LP是一家总部位于美国的天然气压缩服务供应商，服务覆盖油气行业上游、中游及下游领域，提供定制化压缩系统、设备维护与运营支持，助力天然气生产、加工和运输环节高效运转。
MATV vs USAC — 直观对比
营收规模更大
MATV
是对方的1.8倍
$252.5M
营收增速更快
USAC
高出1.7%
1.0%
净利率更高
MATV
高出10.8%
11.0%
自由现金流更多
USAC
多$79.7M
$8.0M
两年增速更快
USAC
近两年复合增速
-3.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $463.1M | $252.5M |
| 净利润 | $100.8M | $27.8M |
| 毛利率 | 18.8% | — |
| 营业利润率 | 2.2% | 30.3% |
| 净利率 | 21.8% | 11.0% |
| 营收同比 | 1.0% | 2.7% |
| 净利润同比 | 6620.0% | 9.1% |
| 每股收益（稀释后） | $1.87 | — |
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MATVUSAC
| Q4 25 | $463.1M | $252.5M | ||
| Q3 25 | $513.7M | $250.3M | ||
| Q2 25 | $525.4M | $250.1M | ||
| Q1 25 | $484.8M | $245.2M | ||
| Q4 24 | $458.6M | $245.9M | ||
| Q3 24 | $498.5M | $240.0M | ||
| Q2 24 | $523.8M | $235.3M | ||
| Q1 24 | $500.2M | $229.3M |
净利润MATVUSAC
| Q4 25 | $100.8M | $27.8M | ||
| Q3 25 | $-3.2M | $34.5M | ||
| Q2 25 | $-9.5M | $28.6M | ||
| Q1 25 | $-425.5M | $20.5M | ||
| Q4 24 | $1.5M | $25.4M | ||
| Q3 24 | $-20.8M | $19.3M | ||
| Q2 24 | $-1.4M | $31.2M | ||
| Q1 24 | $-28.0M | $23.6M |
毛利率MATVUSAC
| 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MATVUSAC
| Q4 25 | 2.2% | 30.3% | ||
| Q3 25 | 3.1% | 33.5% | ||
| Q2 25 | 3.8% | 30.6% | ||
| Q1 25 | -88.8% | 28.3% | ||
| Q4 24 | 0.6% | 30.3% | ||
| Q3 24 | 1.4% | 31.5% | ||
| Q2 24 | 2.0% | 32.9% | ||
| Q1 24 | -2.8% | 29.2% |
净利率MATVUSAC
| Q4 25 | 21.8% | 11.0% | ||
| Q3 25 | -0.6% | 13.8% | ||
| Q2 25 | -1.8% | 11.4% | ||
| Q1 25 | -87.8% | 8.4% | ||
| Q4 24 | 0.3% | 10.3% | ||
| Q3 24 | -4.2% | 8.1% | ||
| Q2 24 | -0.3% | 13.3% | ||
| Q1 24 | -5.6% | 10.3% |
每股收益（稀释后）MATVUSAC
| Q4 25 | $1.87 | — | ||
| Q3 25 | $-0.06 | — | ||
| Q2 25 | $-0.18 | — | ||
| Q1 25 | $-7.82 | — | ||
| Q4 24 | $0.03 | — | ||
| Q3 24 | $-0.38 | — | ||
| Q2 24 | $-0.03 | — | ||
| Q1 24 | $-0.52 | — |
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 | $8.6M |
| 总债务越低越好 | $1.0B | $2.5B |
| 股东权益账面价值 | $498.7M | — |
| 总资产 | $2.1B | $2.6B |
| 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MATVUSAC
| Q4 25 | $84.2M | $8.6M | ||
| Q3 25 | $97.1M | — | ||
| Q2 25 | $95.6M | $2.0K | ||
| Q1 25 | $84.0M | $2.0K | ||
| Q4 24 | $94.3M | $14.0K | ||
| Q3 24 | $162.2M | $79.0K | ||
| Q2 24 | $133.4M | $9.0K | ||
| Q1 24 | $128.9M | $8.0K |
总债务MATVUSAC
| Q4 25 | $1.0B | $2.5B | ||
| Q3 25 | $1.0B | $2.5B | ||
| Q2 25 | $1.1B | $2.5B | ||
| Q1 25 | $1.1B | $2.5B | ||
| Q4 24 | $1.1B | $2.5B | ||
| Q3 24 | $1.2B | $2.5B | ||
| Q2 24 | $1.2B | $2.5B | ||
| Q1 24 | $1.2B | $2.5B |
股东权益MATVUSAC
| 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MATVUSAC
| Q4 25 | $2.1B | $2.6B | ||
| Q3 25 | $2.0B | $2.7B | ||
| Q2 25 | $2.1B | $2.7B | ||
| Q1 25 | $2.1B | $2.7B | ||
| Q4 24 | $2.4B | $2.7B | ||
| Q3 24 | $2.6B | $2.8B | ||
| Q2 24 | $2.6B | $2.8B | ||
| Q1 24 | $2.7B | $2.8B |
负债/权益比MATVUSAC
| 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 | $139.5M |
| 自由现金流经营现金流 - 资本支出 | $8.0M | $87.7M |
| 自由现金流率自由现金流/营收 | 1.7% | 34.8% |
| 资本支出强度资本支出/营收 | 2.4% | 20.5% |
| 现金转化率经营现金流/净利润 | 0.19× | 5.02× |
| 过去12个月自由现金流最近4个季度 | $93.8M | $277.0M |
8季度趋势，按日历期对齐
经营现金流MATVUSAC
| Q4 25 | $19.3M | $139.5M | ||
| Q3 25 | $72.8M | $75.9M | ||
| Q2 25 | $57.6M | $124.2M | ||
| Q1 25 | $-15.9M | $54.7M | ||
| Q4 24 | $24.1M | $130.2M | ||
| Q3 24 | $37.6M | $48.5M | ||
| Q2 24 | $46.1M | $96.7M | ||
| Q1 24 | $-13.0M | $65.9M |
自由现金流MATVUSAC
| Q4 25 | $8.0M | $87.7M | ||
| Q3 25 | $66.7M | $51.9M | ||
| Q2 25 | $48.9M | $101.1M | ||
| Q1 25 | $-29.8M | $36.3M | ||
| Q4 24 | $2.0M | $101.2M | ||
| Q3 24 | $25.5M | $19.8M | ||
| Q2 24 | $37.4M | $48.2M | ||
| Q1 24 | $-25.1M | $-32.7M |
自由现金流率MATVUSAC
| Q4 25 | 1.7% | 34.8% | ||
| Q3 25 | 13.0% | 20.7% | ||
| Q2 25 | 9.3% | 40.4% | ||
| Q1 25 | -6.1% | 14.8% | ||
| Q4 24 | 0.4% | 41.1% | ||
| Q3 24 | 5.1% | 8.2% | ||
| Q2 24 | 7.1% | 20.5% | ||
| Q1 24 | -5.0% | -14.3% |
资本支出强度MATVUSAC
| Q4 25 | 2.4% | 20.5% | ||
| Q3 25 | 1.2% | 9.6% | ||
| Q2 25 | 1.7% | 9.3% | ||
| Q1 25 | 2.9% | 7.5% | ||
| Q4 24 | 4.8% | 11.8% | ||
| Q3 24 | 2.4% | 12.0% | ||
| Q2 24 | 1.7% | 20.6% | ||
| Q1 24 | 2.4% | 43.0% |
现金转化率MATVUSAC
| Q4 25 | 0.19× | 5.02× | ||
| Q3 25 | — | 2.20× | ||
| Q2 25 | — | 4.35× | ||
| Q1 25 | — | 2.66× | ||
| Q4 24 | 16.07× | 5.12× | ||
| Q3 24 | — | 2.51× | ||
| Q2 24 | — | 3.10× | ||
| Q1 24 | — | 2.80× |
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% |
USAC
| Revenue From Contract Operations Excluding Revenue From Related Party | $231.7M | 92% |
| Entities Affiliated With Energy Transfer LP | $16.6M | 7% |
| Transferred At Point In Time | $5.4M | 2% |
