vs
美森（MATX）与Dave & Buster's Entertainment, Inc.（PLAY）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Dave & Buster's Entertainment, Inc.的1.9倍（$851.9M vs $448.2M），美森净利率更高（16.8% vs -9.4%，领先26.2%），Dave & Buster's Entertainment, Inc.同比增速更快（-1.1% vs -4.3%），美森自由现金流更多（$42.2M vs $-20.6M），过去两年美森的营收复合增速更高（8.6% vs -13.5%）
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。
戴夫与巴斯特娱乐是总部位于美国达拉斯的餐饮娱乐企业，旗下每家门店都配备全套服务餐厅、酒吧以及名为“百万美元 midway”的游戏游乐区。截至2024年2月，该公司共开设162家门店，其中美国本土158家，波多黎各和加拿大各设2家门店，主打餐饮与休闲娱乐融合的消费体验。
MATX vs PLAY — 直观对比
营收规模更大
MATX
是对方的1.9倍
$448.2M
营收增速更快
PLAY
高出3.3%
-4.3%
净利率更高
MATX
高出26.2%
-9.4%
自由现金流更多
MATX
多$62.8M
$-20.6M
两年增速更快
MATX
近两年复合增速
-13.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $851.9M | $448.2M |
| 净利润 | $143.1M | $-42.1M |
| 毛利率 | — | 85.8% |
| 营业利润率 | 16.9% | -3.6% |
| 净利率 | 16.8% | -9.4% |
| 营收同比 | -4.3% | -1.1% |
| 净利润同比 | 11.8% | -28.7% |
| 每股收益（稀释后） | $4.47 | $-1.22 |
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MATXPLAY
| Q4 25 | $851.9M | $448.2M | ||
| Q3 25 | $880.1M | $557.4M | ||
| Q2 25 | $830.5M | $567.7M | ||
| Q1 25 | $782.0M | $534.5M | ||
| Q4 24 | $890.3M | $453.0M | ||
| Q3 24 | $962.0M | $557.1M | ||
| Q2 24 | $847.4M | $588.1M | ||
| Q1 24 | $722.1M | $599.0M |
净利润MATXPLAY
| Q4 25 | $143.1M | $-42.1M | ||
| Q3 25 | $134.7M | $11.4M | ||
| Q2 25 | $94.7M | $21.7M | ||
| Q1 25 | $72.3M | $9.3M | ||
| Q4 24 | $128.0M | $-32.7M | ||
| Q3 24 | $199.1M | $40.3M | ||
| Q2 24 | $113.2M | $41.4M | ||
| Q1 24 | $36.1M | $36.1M |
毛利率MATXPLAY
| Q4 25 | — | 85.8% | ||
| Q3 25 | — | 86.3% | ||
| Q2 25 | — | 85.5% | ||
| Q1 25 | — | 85.5% | ||
| Q4 24 | — | 85.0% | ||
| Q3 24 | — | 85.3% | ||
| Q2 24 | — | 85.2% | ||
| Q1 24 | — | 84.1% |
营业利润率MATXPLAY
| Q4 25 | 16.9% | -3.6% | ||
| Q3 25 | 18.3% | 9.5% | ||
| Q2 25 | 13.6% | 11.1% | ||
| Q1 25 | 10.5% | 8.3% | ||
| Q4 24 | 16.6% | 1.4% | ||
| Q3 24 | 25.2% | 15.2% | ||
| Q2 24 | 14.7% | 14.5% | ||
| Q1 24 | 5.1% | 14.9% |
净利率MATXPLAY
| Q4 25 | 16.8% | -9.4% | ||
| Q3 25 | 15.3% | 2.0% | ||
| Q2 25 | 11.4% | 3.8% | ||
| Q1 25 | 9.2% | 1.7% | ||
| Q4 24 | 14.4% | -7.2% | ||
| Q3 24 | 20.7% | 7.2% | ||
| Q2 24 | 13.4% | 7.0% | ||
| Q1 24 | 5.0% | 6.0% |
每股收益（稀释后）MATXPLAY
| Q4 25 | $4.47 | $-1.22 | ||
| Q3 25 | $4.24 | $0.32 | ||
| Q2 25 | $2.92 | $0.62 | ||
| Q1 25 | $2.18 | $0.32 | ||
| Q4 24 | $3.69 | $-0.84 | ||
| Q3 24 | $5.89 | $0.99 | ||
| Q2 24 | $3.31 | $0.99 | ||
| Q1 24 | $1.04 | $0.95 |
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 | $13.6M |
| 总债务越低越好 | $361.2M | $1.6B |
| 股东权益账面价值 | $2.8B | $130.8M |
| 总资产 | $4.6B | $4.1B |
| 负债/权益比越低杠杆越低 | 0.13× | 12.17× |
8季度趋势，按日历期对齐
现金及短期投资MATXPLAY
| Q4 25 | $141.9M | $13.6M | ||
| Q3 25 | $92.7M | $12.0M | ||
| Q2 25 | $59.1M | $11.9M | ||
| Q1 25 | $122.0M | $6.9M | ||
| Q4 24 | $266.8M | $8.6M | ||
| Q3 24 | $270.3M | $13.1M | ||
| Q2 24 | $168.2M | $32.1M | ||
| Q1 24 | $25.9M | $37.3M |
总债务MATXPLAY
| Q4 25 | $361.2M | $1.6B | ||
| Q3 25 | $370.9M | $1.6B | ||
| Q2 25 | $341.3M | $1.6B | ||
| Q1 25 | $351.1M | $1.5B | ||
| Q4 24 | $361.2M | $1.5B | ||
| Q3 24 | $370.9M | $1.3B | ||
| Q2 24 | $381.0M | $1.3B | ||
| Q1 24 | $390.8M | $1.3B |
股东权益MATXPLAY
| Q4 25 | $2.8B | $130.8M | ||
| Q3 25 | $2.7B | $166.2M | ||
| Q2 25 | $2.6B | $146.8M | ||
| Q1 25 | $2.6B | $145.8M | ||
| Q4 24 | $2.7B | $226.6M | ||
| Q3 24 | $2.6B | $284.4M | ||
| Q2 24 | $2.4B | $292.5M | ||
| Q1 24 | $2.4B | $251.2M |
总资产MATXPLAY
| Q4 25 | $4.6B | $4.1B | ||
| Q3 25 | $4.6B | $4.1B | ||
| Q2 25 | $4.5B | $4.1B | ||
| Q1 25 | $4.5B | $4.0B | ||
| Q4 24 | $4.6B | $3.9B | ||
| Q3 24 | $4.4B | $3.8B | ||
| Q2 24 | $4.3B | $3.8B | ||
| Q1 24 | $4.2B | $3.8B |
负债/权益比MATXPLAY
| Q4 25 | 0.13× | 12.17× | ||
| Q3 25 | 0.14× | 9.57× | ||
| Q2 25 | 0.13× | 10.98× | ||
| Q1 25 | 0.13× | 10.45× | ||
| Q4 24 | 0.14× | 6.58× | ||
| Q3 24 | 0.15× | 4.72× | ||
| Q2 24 | 0.16× | 4.58× | ||
| Q1 24 | 0.16× | 5.33× |
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 | $58.0M |
| 自由现金流经营现金流 - 资本支出 | $42.2M | $-20.6M |
| 自由现金流率自由现金流/营收 | 5.0% | -4.6% |
| 资本支出强度资本支出/营收 | 15.8% | 17.5% |
| 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 | $-195.6M |
8季度趋势，按日历期对齐
经营现金流MATXPLAY
| Q4 25 | $176.9M | $58.0M | ||
| Q3 25 | $175.6M | $34.0M | ||
| Q2 25 | $105.6M | $95.8M | ||
| Q1 25 | $89.0M | $108.9M | ||
| Q4 24 | $174.7M | $-7.2M | ||
| Q3 24 | $248.6M | $101.8M | ||
| Q2 24 | $307.9M | $108.8M | ||
| Q1 24 | $36.6M | $97.2M |
自由现金流MATXPLAY
| Q4 25 | $42.2M | $-20.6M | ||
| Q3 25 | $92.4M | $-55.2M | ||
| Q2 25 | $19.3M | $-58.8M | ||
| Q1 25 | $-200.0K | $-61.0M | ||
| Q4 24 | $49.3M | $-138.4M | ||
| Q3 24 | $189.0M | $-14.3M | ||
| Q2 24 | $238.1M | $-4.2M | ||
| Q1 24 | $-18.7M | $-25.4M |
自由现金流率MATXPLAY
| Q4 25 | 5.0% | -4.6% | ||
| Q3 25 | 10.5% | -9.9% | ||
| Q2 25 | 2.3% | -10.4% | ||
| Q1 25 | -0.0% | -11.4% | ||
| Q4 24 | 5.5% | -30.6% | ||
| Q3 24 | 19.6% | -2.6% | ||
| Q2 24 | 28.1% | -0.7% | ||
| Q1 24 | -2.6% | -4.2% |
资本支出强度MATXPLAY
| Q4 25 | 15.8% | 17.5% | ||
| Q3 25 | 9.5% | 16.0% | ||
| Q2 25 | 10.4% | 27.2% | ||
| Q1 25 | 11.4% | 31.8% | ||
| Q4 24 | 14.1% | 29.0% | ||
| Q3 24 | 6.2% | 20.8% | ||
| Q2 24 | 8.2% | 19.2% | ||
| Q1 24 | 7.7% | 20.5% |
现金转化率MATXPLAY
| Q4 25 | 1.24× | — | ||
| Q3 25 | 1.30× | 2.98× | ||
| Q2 25 | 1.12× | 4.41× | ||
| Q1 25 | 1.23× | 11.71× | ||
| Q4 24 | 1.36× | — | ||
| Q3 24 | 1.25× | 2.53× | ||
| Q2 24 | 2.72× | 2.63× | ||
| Q1 24 | 1.01× | 2.69× |
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% |
PLAY
| Game Play Credit Usage | $273.1M | 61% |
| Food And Nonalcoholic Beverages | $115.1M | 26% |
| Alcoholic Beverage | $53.7M | 12% |
| Other Entertainment | $6.3M | 1% |
| Gift Card Revenue | $3.5M | 1% |
