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美森（MATX）与OCEANEERING INTERNATIONAL INC（OII）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OCEANEERING INTERNATIONAL INC的1.2倍（$851.9M vs $692.4M），美森净利率更高（16.8% vs 5.2%，领先11.6%），OCEANEERING INTERNATIONAL INC同比增速更快（2.7% vs -4.3%），美森自由现金流更多（$42.2M vs $-76.5M），过去两年美森的营收复合增速更高（8.6% vs 1.8%）
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。
奥什科什国际（Oceaneering International）是一家总部位于美国得克萨斯州休斯敦的水下工程及应用技术企业，为海洋、航天及其他特殊作业场景的客户提供定制化工程服务与硬件设备，在极端环境工程领域拥有深厚的技术积累。
MATX vs OII — 直观对比
营收规模更大
MATX
是对方的1.2倍
$692.4M
营收增速更快
OII
高出7.0%
-4.3%
净利率更高
MATX
高出11.6%
5.2%
自由现金流更多
MATX
多$118.7M
$-76.5M
两年增速更快
MATX
近两年复合增速
1.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $851.9M | $692.4M |
| 净利润 | $143.1M | $36.1M |
| 毛利率 | — | — |
| 营业利润率 | 16.9% | — |
| 净利率 | 16.8% | 5.2% |
| 营收同比 | -4.3% | 2.7% |
| 净利润同比 | 11.8% | -79.7% |
| 每股收益（稀释后） | $4.47 | $0.36 |
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MATXOII
| Q1 26 | — | $692.4M | ||
| Q4 25 | $851.9M | $668.6M | ||
| Q3 25 | $880.1M | $742.9M | ||
| Q2 25 | $830.5M | $698.2M | ||
| Q1 25 | $782.0M | $674.5M | ||
| Q4 24 | $890.3M | $713.5M | ||
| Q3 24 | $962.0M | $679.8M | ||
| Q2 24 | $847.4M | $668.8M |
净利润MATXOII
| Q1 26 | — | $36.1M | ||
| Q4 25 | $143.1M | $177.7M | ||
| Q3 25 | $134.7M | $71.3M | ||
| Q2 25 | $94.7M | $54.4M | ||
| Q1 25 | $72.3M | $50.4M | ||
| Q4 24 | $128.0M | $56.1M | ||
| Q3 24 | $199.1M | $41.2M | ||
| Q2 24 | $113.2M | $35.0M |
毛利率MATXOII
| Q1 26 | — | — | ||
| Q4 25 | — | 19.8% | ||
| Q3 25 | — | 20.6% | ||
| Q2 25 | — | 21.3% | ||
| Q1 25 | — | 20.0% | ||
| Q4 24 | — | 19.9% | ||
| Q3 24 | — | 19.3% | ||
| Q2 24 | — | 18.0% |
营业利润率MATXOII
| Q1 26 | — | — | ||
| Q4 25 | 16.9% | 9.8% | ||
| Q3 25 | 18.3% | 11.6% | ||
| Q2 25 | 13.6% | 11.3% | ||
| Q1 25 | 10.5% | 10.9% | ||
| Q4 24 | 16.6% | 10.9% | ||
| Q3 24 | 25.2% | 10.5% | ||
| Q2 24 | 14.7% | 9.0% |
净利率MATXOII
| Q1 26 | — | 5.2% | ||
| Q4 25 | 16.8% | 26.6% | ||
| Q3 25 | 15.3% | 9.6% | ||
| Q2 25 | 11.4% | 7.8% | ||
| Q1 25 | 9.2% | 7.5% | ||
| Q4 24 | 14.4% | 7.9% | ||
| Q3 24 | 20.7% | 6.1% | ||
| Q2 24 | 13.4% | 5.2% |
每股收益（稀释后）MATXOII
| Q1 26 | — | $0.36 | ||
| Q4 25 | $4.47 | $1.75 | ||
| Q3 25 | $4.24 | $0.71 | ||
| Q2 25 | $2.92 | $0.54 | ||
| Q1 25 | $2.18 | $0.49 | ||
| Q4 24 | $3.69 | $0.55 | ||
| Q3 24 | $5.89 | $0.40 | ||
| Q2 24 | $3.31 | $0.34 |
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 | — |
| 总债务越低越好 | $361.2M | $488.8M |
| 股东权益账面价值 | $2.8B | $1.1B |
| 总资产 | $4.6B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.13× | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资MATXOII
| Q1 26 | — | — | ||
| Q4 25 | $141.9M | $695.9M | ||
| Q3 25 | $92.7M | $7.0M | ||
| Q2 25 | $59.1M | $7.0M | ||
| Q1 25 | $122.0M | $7.0M | ||
| Q4 24 | $266.8M | $504.5M | ||
| Q3 24 | $270.3M | — | ||
| Q2 24 | $168.2M | — |
总债务MATXOII
| Q1 26 | — | $488.8M | ||
| Q4 25 | $361.2M | $487.4M | ||
| Q3 25 | $370.9M | — | ||
| Q2 25 | $341.3M | — | ||
| Q1 25 | $351.1M | — | ||
| Q4 24 | $361.2M | $482.0M | ||
| Q3 24 | $370.9M | — | ||
| Q2 24 | $381.0M | — |
股东权益MATXOII
| Q1 26 | — | $1.1B | ||
| Q4 25 | $2.8B | $1.1B | ||
| Q3 25 | $2.7B | $907.7M | ||
| Q2 25 | $2.6B | $842.1M | ||
| Q1 25 | $2.6B | $773.1M | ||
| Q4 24 | $2.7B | $714.3M | ||
| Q3 24 | $2.6B | $698.0M | ||
| Q2 24 | $2.4B | $651.0M |
总资产MATXOII
| Q1 26 | — | $2.6B | ||
| Q4 25 | $4.6B | $2.7B | ||
| Q3 25 | $4.6B | $2.5B | ||
| Q2 25 | $4.5B | $2.3B | ||
| Q1 25 | $4.5B | $2.3B | ||
| Q4 24 | $4.6B | $2.3B | ||
| Q3 24 | $4.4B | $2.4B | ||
| Q2 24 | $4.3B | $2.3B |
负债/权益比MATXOII
| Q1 26 | — | 0.44× | ||
| Q4 25 | 0.13× | 0.46× | ||
| Q3 25 | 0.14× | — | ||
| Q2 25 | 0.13× | — | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | 0.14× | 0.67× | ||
| Q3 24 | 0.15× | — | ||
| Q2 24 | 0.16× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $42.2M | $-76.5M |
| 自由现金流率自由现金流/营收 | 5.0% | -11.1% |
| 资本支出强度资本支出/营收 | 15.8% | 2.5% |
| 现金转化率经营现金流/净利润 | 1.24× | — |
| 过去12个月自由现金流最近4个季度 | $153.7M | $238.1M |
8季度趋势，按日历期对齐
经营现金流MATXOII
| Q1 26 | — | — | ||
| Q4 25 | $176.9M | $221.1M | ||
| Q3 25 | $175.6M | $101.3M | ||
| Q2 25 | $105.6M | $77.2M | ||
| Q1 25 | $89.0M | $-80.7M | ||
| Q4 24 | $174.7M | $128.4M | ||
| Q3 24 | $248.6M | $91.9M | ||
| Q2 24 | $307.9M | $52.6M |
自由现金流MATXOII
| Q1 26 | — | $-76.5M | ||
| Q4 25 | $42.2M | $190.7M | ||
| Q3 25 | $92.4M | $77.0M | ||
| Q2 25 | $19.3M | $46.9M | ||
| Q1 25 | $-200.0K | $-106.8M | ||
| Q4 24 | $49.3M | $94.5M | ||
| Q3 24 | $189.0M | $67.0M | ||
| Q2 24 | $238.1M | $29.8M |
自由现金流率MATXOII
| Q1 26 | — | -11.1% | ||
| Q4 25 | 5.0% | 28.5% | ||
| Q3 25 | 10.5% | 10.4% | ||
| Q2 25 | 2.3% | 6.7% | ||
| Q1 25 | -0.0% | -15.8% | ||
| Q4 24 | 5.5% | 13.2% | ||
| Q3 24 | 19.6% | 9.9% | ||
| Q2 24 | 28.1% | 4.5% |
资本支出强度MATXOII
| Q1 26 | — | 2.5% | ||
| Q4 25 | 15.8% | 4.6% | ||
| Q3 25 | 9.5% | 3.3% | ||
| Q2 25 | 10.4% | 4.3% | ||
| Q1 25 | 11.4% | 3.9% | ||
| Q4 24 | 14.1% | 4.7% | ||
| Q3 24 | 6.2% | 3.7% | ||
| Q2 24 | 8.2% | 3.4% |
现金转化率MATXOII
| Q1 26 | — | — | ||
| Q4 25 | 1.24× | 1.24× | ||
| Q3 25 | 1.30× | 1.42× | ||
| Q2 25 | 1.12× | 1.42× | ||
| Q1 25 | 1.23× | -1.60× | ||
| Q4 24 | 1.36× | 2.29× | ||
| Q3 24 | 1.25× | 2.23× | ||
| Q2 24 | 2.72× | 1.50× |
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% |
OII
| Backlog at end of period | $492.0M | 71% |
| Other | $162.8M | 24% |
| ROV days available | $22.5M | 3% |
| ROV days utilized | $15.1M | 2% |
