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美森（MATX）与MDU RESOURCES GROUP INC（MDU）财务数据对比。点击上方公司名可切换其他公司
美森的季度营收约是MDU RESOURCES GROUP INC的1.6倍（$851.9M vs $522.6M），美森净利率更高（16.8% vs 14.6%，领先2.2%），MDU RESOURCES GROUP INC同比增速更快（-1.6% vs -4.3%），美森自由现金流更多（$42.2M vs $-336.0M），过去两年美森的营收复合增速更高（8.6% vs -5.7%）
美森公司（Matson, Inc.）是美国知名航运服务企业，总部位于夏威夷州火奴鲁鲁，成立于1882年。旗下子公司美森航运主营跨太平洋海运业务，服务覆盖夏威夷、阿拉斯加、关岛、密克罗尼西亚、太平洋诸岛、中国及日本等地区。
MDU资源集团是一家总部位于美国北达科他州俾斯麦的企业，业务涵盖受监管的能源输送供应，以及公用事业相关的建筑材料与服务，业务范围覆盖美国48个州，是当地能源及基建服务领域的重要参与者。
MATX vs MDU — 直观对比
营收规模更大
MATX
是对方的1.6倍
$522.6M
营收增速更快
MDU
高出2.7%
-4.3%
净利率更高
MATX
高出2.2%
14.6%
自由现金流更多
MATX
多$378.2M
$-336.0M
两年增速更快
MATX
近两年复合增速
-5.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $851.9M | $522.6M |
| 净利润 | $143.1M | $76.3M |
| 毛利率 | — | — |
| 营业利润率 | 16.9% | 20.5% |
| 净利率 | 16.8% | 14.6% |
| 营收同比 | -4.3% | -1.6% |
| 净利润同比 | 11.8% | 38.4% |
| 每股收益（稀释后） | $4.47 | $0.37 |
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MATXMDU
| Q4 25 | $851.9M | $522.6M | ||
| Q3 25 | $880.1M | $313.6M | ||
| Q2 25 | $830.5M | $348.7M | ||
| Q1 25 | $782.0M | $678.0M | ||
| Q4 24 | $890.3M | $531.0M | ||
| Q3 24 | $962.0M | $290.7M | ||
| Q2 24 | $847.4M | $343.1M | ||
| Q1 24 | $722.1M | $588.2M |
净利润MATXMDU
| Q4 25 | $143.1M | $76.3M | ||
| Q3 25 | $134.7M | $18.3M | ||
| Q2 25 | $94.7M | $13.8M | ||
| Q1 25 | $72.3M | $82.0M | ||
| Q4 24 | $128.0M | $55.2M | ||
| Q3 24 | $199.1M | $64.6M | ||
| Q2 24 | $113.2M | $60.4M | ||
| Q1 24 | $36.1M | $100.9M |
营业利润率MATXMDU
| Q4 25 | 16.9% | 20.5% | ||
| Q3 25 | 18.3% | 12.7% | ||
| Q2 25 | 13.6% | 8.7% | ||
| Q1 25 | 10.5% | 16.6% | ||
| Q4 24 | 16.6% | 17.8% | ||
| Q3 24 | 25.2% | 12.0% | ||
| Q2 24 | 14.7% | 11.5% | ||
| Q1 24 | 5.1% | 16.4% |
净利率MATXMDU
| Q4 25 | 16.8% | 14.6% | ||
| Q3 25 | 15.3% | 5.8% | ||
| Q2 25 | 11.4% | 4.0% | ||
| Q1 25 | 9.2% | 12.1% | ||
| Q4 24 | 14.4% | 10.4% | ||
| Q3 24 | 20.7% | 22.2% | ||
| Q2 24 | 13.4% | 17.6% | ||
| Q1 24 | 5.0% | 17.2% |
每股收益（稀释后）MATXMDU
| Q4 25 | $4.47 | $0.37 | ||
| Q3 25 | $4.24 | $0.09 | ||
| Q2 25 | $2.92 | $0.07 | ||
| Q1 25 | $2.18 | $0.40 | ||
| Q4 24 | $3.69 | $0.26 | ||
| Q3 24 | $5.89 | $0.32 | ||
| Q2 24 | $3.31 | $0.30 | ||
| Q1 24 | $1.04 | $0.49 |
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 | $141.9M | $28.2M |
| 总债务越低越好 | $361.2M | $2.7B |
| 股东权益账面价值 | $2.8B | $2.8B |
| 总资产 | $4.6B | $7.6B |
| 负债/权益比越低杠杆越低 | 0.13× | 0.97× |
8季度趋势，按日历期对齐
现金及短期投资MATXMDU
| Q4 25 | $141.9M | $28.2M | ||
| Q3 25 | $92.7M | $75.9M | ||
| Q2 25 | $59.1M | $58.8M | ||
| Q1 25 | $122.0M | $59.5M | ||
| Q4 24 | $266.8M | $66.9M | ||
| Q3 24 | $270.3M | $88.3M | ||
| Q2 24 | $168.2M | $78.8M | ||
| Q1 24 | $25.9M | $72.7M |
总债务MATXMDU
| Q4 25 | $361.2M | $2.7B | ||
| Q3 25 | $370.9M | $2.4B | ||
| Q2 25 | $341.3M | $2.2B | ||
| Q1 25 | $351.1M | $2.2B | ||
| Q4 24 | $361.2M | $2.3B | ||
| Q3 24 | $370.9M | $2.3B | ||
| Q2 24 | $381.0M | $2.3B | ||
| Q1 24 | $390.8M | $2.3B |
股东权益MATXMDU
| Q4 25 | $2.8B | $2.8B | ||
| Q3 25 | $2.7B | $2.7B | ||
| Q2 25 | $2.6B | $2.7B | ||
| Q1 25 | $2.6B | $2.7B | ||
| Q4 24 | $2.7B | $2.7B | ||
| Q3 24 | $2.6B | $3.1B | ||
| Q2 24 | $2.4B | $3.0B | ||
| Q1 24 | $2.4B | $3.0B |
总资产MATXMDU
| Q4 25 | $4.6B | $7.6B | ||
| Q3 25 | $4.6B | $7.2B | ||
| Q2 25 | $4.5B | $6.9B | ||
| Q1 25 | $4.5B | $7.0B | ||
| Q4 24 | $4.6B | $7.0B | ||
| Q3 24 | $4.4B | $8.2B | ||
| Q2 24 | $4.3B | $8.0B | ||
| Q1 24 | $4.2B | $7.8B |
负债/权益比MATXMDU
| Q4 25 | 0.13× | 0.97× | ||
| Q3 25 | 0.14× | 0.86× | ||
| Q2 25 | 0.13× | 0.80× | ||
| Q1 25 | 0.13× | 0.80× | ||
| Q4 24 | 0.14× | 0.85× | ||
| Q3 24 | 0.15× | 0.76× | ||
| Q2 24 | 0.16× | 0.75× | ||
| Q1 24 | 0.16× | 0.76× |
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 | $176.9M | $80.6M |
| 自由现金流经营现金流 - 资本支出 | $42.2M | $-336.0M |
| 自由现金流率自由现金流/营收 | 5.0% | -64.3% |
| 资本支出强度资本支出/营收 | 15.8% | 79.7% |
| 现金转化率经营现金流/净利润 | 1.24× | 1.06× |
| 过去12个月自由现金流最近4个季度 | $153.7M | $-297.0M |
8季度趋势，按日历期对齐
经营现金流MATXMDU
| Q4 25 | $176.9M | $80.6M | ||
| Q3 25 | $175.6M | $57.9M | ||
| Q2 25 | $105.6M | $117.4M | ||
| Q1 25 | $89.0M | $217.5M | ||
| Q4 24 | $174.7M | $60.5M | ||
| Q3 24 | $248.6M | $140.2M | ||
| Q2 24 | $307.9M | $136.5M | ||
| Q1 24 | $36.6M | $165.1M |
自由现金流MATXMDU
| Q4 25 | $42.2M | $-336.0M | ||
| Q3 25 | $92.4M | $-121.9M | ||
| Q2 25 | $19.3M | $36.5M | ||
| Q1 25 | $-200.0K | $124.4M | ||
| Q4 24 | $49.3M | $-95.8M | ||
| Q3 24 | $189.0M | $673.0K | ||
| Q2 24 | $238.1M | $26.5M | ||
| Q1 24 | $-18.7M | $48.1M |
自由现金流率MATXMDU
| Q4 25 | 5.0% | -64.3% | ||
| Q3 25 | 10.5% | -38.9% | ||
| Q2 25 | 2.3% | 10.5% | ||
| Q1 25 | -0.0% | 18.4% | ||
| Q4 24 | 5.5% | -18.0% | ||
| Q3 24 | 19.6% | 0.2% | ||
| Q2 24 | 28.1% | 7.7% | ||
| Q1 24 | -2.6% | 8.2% |
资本支出强度MATXMDU
| Q4 25 | 15.8% | 79.7% | ||
| Q3 25 | 9.5% | 57.3% | ||
| Q2 25 | 10.4% | 23.2% | ||
| Q1 25 | 11.4% | 13.7% | ||
| Q4 24 | 14.1% | 29.4% | ||
| Q3 24 | 6.2% | 48.0% | ||
| Q2 24 | 8.2% | 32.0% | ||
| Q1 24 | 7.7% | 19.9% |
现金转化率MATXMDU
| Q4 25 | 1.24× | 1.06× | ||
| Q3 25 | 1.30× | 3.16× | ||
| Q2 25 | 1.12× | 8.52× | ||
| Q1 25 | 1.23× | 2.65× | ||
| Q4 24 | 1.36× | 1.10× | ||
| Q3 24 | 1.25× | 2.17× | ||
| Q2 24 | 2.72× | 2.26× | ||
| Q1 24 | 1.01× | 1.64× |
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
MATX
| Ocean Transportation Segment | $704.2M | 83% |
| Logistics Services Segment | $147.7M | 17% |
MDU
| Natural Gas Distribution | $382.8M | 73% |
| Commercial Utility Sales | $42.7M | 8% |
| Residential Utility Sales | $33.7M | 6% |
| Pipelineand Midstream | $31.1M | 6% |
| Natural Gas Transportation | $17.2M | 3% |
| Industrial Utility Sales | $10.1M | 2% |
| Natural Gas Storage | $6.4M | 1% |
| Other Utility Sales | $1.9M | 0% |
