vs
美森（MATX）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
越洋钻探的季度营收约是美森的1.2倍（$1.0B vs $851.9M），美森净利率更高（16.8% vs 2.4%，领先14.4%），越洋钻探同比增速更快（9.6% vs -4.3%），越洋钻探自由现金流更多（$321.0M vs $42.2M），过去两年越洋钻探的营收复合增速更高（16.9% vs 8.6%）
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。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
MATX vs RIG — 直观对比
营收规模更大
RIG
是对方的1.2倍
$851.9M
营收增速更快
RIG
高出13.9%
-4.3%
净利率更高
MATX
高出14.4%
2.4%
自由现金流更多
RIG
多$278.8M
$42.2M
两年增速更快
RIG
近两年复合增速
8.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $851.9M | $1.0B |
| 净利润 | $143.1M | $25.0M |
| 毛利率 | — | 42.0% |
| 营业利润率 | 16.9% | 23.0% |
| 净利率 | 16.8% | 2.4% |
| 营收同比 | -4.3% | 9.6% |
| 净利润同比 | 11.8% | 257.1% |
| 每股收益（稀释后） | $4.47 | $0.13 |
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MATXRIG
| Q4 25 | $851.9M | $1.0B | ||
| Q3 25 | $880.1M | $1.0B | ||
| Q2 25 | $830.5M | $988.0M | ||
| Q1 25 | $782.0M | $906.0M | ||
| Q4 24 | $890.3M | $952.0M | ||
| Q3 24 | $962.0M | $948.0M | ||
| Q2 24 | $847.4M | $861.0M | ||
| Q1 24 | $722.1M | $763.0M |
净利润MATXRIG
| Q4 25 | $143.1M | $25.0M | ||
| Q3 25 | $134.7M | $-1.9B | ||
| Q2 25 | $94.7M | $-938.0M | ||
| Q1 25 | $72.3M | $-79.0M | ||
| Q4 24 | $128.0M | $7.0M | ||
| Q3 24 | $199.1M | $-494.0M | ||
| Q2 24 | $113.2M | $-123.0M | ||
| Q1 24 | $36.1M | $98.0M |
毛利率MATXRIG
| Q4 25 | — | 42.0% | ||
| Q3 25 | — | 43.2% | ||
| Q2 25 | — | 39.4% | ||
| Q1 25 | — | 31.8% | ||
| Q4 24 | — | 39.2% | ||
| Q3 24 | — | 40.6% | ||
| Q2 24 | — | 38.0% | ||
| Q1 24 | — | 31.5% |
营业利润率MATXRIG
| Q4 25 | 16.9% | 23.0% | ||
| Q3 25 | 18.3% | -163.1% | ||
| Q2 25 | 13.6% | -97.6% | ||
| Q1 25 | 10.5% | 7.1% | ||
| Q4 24 | 16.6% | 13.7% | ||
| Q3 24 | 25.2% | -51.2% | ||
| Q2 24 | 14.7% | -6.9% | ||
| Q1 24 | 5.1% | -0.4% |
净利率MATXRIG
| Q4 25 | 16.8% | 2.4% | ||
| Q3 25 | 15.3% | -187.1% | ||
| Q2 25 | 11.4% | -94.9% | ||
| Q1 25 | 9.2% | -8.7% | ||
| Q4 24 | 14.4% | 0.7% | ||
| Q3 24 | 20.7% | -52.1% | ||
| Q2 24 | 13.4% | -14.3% | ||
| Q1 24 | 5.0% | 12.8% |
每股收益（稀释后）MATXRIG
| Q4 25 | $4.47 | $0.13 | ||
| Q3 25 | $4.24 | $-2.00 | ||
| Q2 25 | $2.92 | $-1.06 | ||
| Q1 25 | $2.18 | $-0.11 | ||
| Q4 24 | $3.69 | $-0.14 | ||
| Q3 24 | $5.89 | $-0.58 | ||
| Q2 24 | $3.31 | $-0.15 | ||
| Q1 24 | $1.04 | $0.11 |
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 | $620.0M |
| 总债务越低越好 | $361.2M | $5.2B |
| 股东权益账面价值 | $2.8B | $8.1B |
| 总资产 | $4.6B | $15.6B |
| 负债/权益比越低杠杆越低 | 0.13× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资MATXRIG
| Q4 25 | $141.9M | $620.0M | ||
| Q3 25 | $92.7M | $833.0M | ||
| Q2 25 | $59.1M | $377.0M | ||
| Q1 25 | $122.0M | $263.0M | ||
| Q4 24 | $266.8M | $560.0M | ||
| Q3 24 | $270.3M | $435.0M | ||
| Q2 24 | $168.2M | $475.0M | ||
| Q1 24 | $25.9M | $446.0M |
总债务MATXRIG
| Q4 25 | $361.2M | $5.2B | ||
| Q3 25 | $370.9M | $4.8B | ||
| Q2 25 | $341.3M | $5.9B | ||
| Q1 25 | $351.1M | $5.9B | ||
| Q4 24 | $361.2M | $6.2B | ||
| Q3 24 | $370.9M | $6.5B | ||
| Q2 24 | $381.0M | $6.8B | ||
| Q1 24 | $390.8M | $6.8B |
股东权益MATXRIG
| Q4 25 | $2.8B | $8.1B | ||
| Q3 25 | $2.7B | $8.1B | ||
| Q2 25 | $2.6B | $9.4B | ||
| Q1 25 | $2.6B | $10.2B | ||
| Q4 24 | $2.7B | $10.3B | ||
| Q3 24 | $2.6B | $10.2B | ||
| Q2 24 | $2.4B | $10.7B | ||
| Q1 24 | $2.4B | $10.5B |
总资产MATXRIG
| Q4 25 | $4.6B | $15.6B | ||
| Q3 25 | $4.6B | $16.2B | ||
| Q2 25 | $4.5B | $17.8B | ||
| Q1 25 | $4.5B | $19.0B | ||
| Q4 24 | $4.6B | $19.4B | ||
| Q3 24 | $4.4B | $19.5B | ||
| Q2 24 | $4.3B | $20.3B | ||
| Q1 24 | $4.2B | $19.9B |
负债/权益比MATXRIG
| Q4 25 | 0.13× | 0.64× | ||
| Q3 25 | 0.14× | 0.60× | ||
| Q2 25 | 0.13× | 0.63× | ||
| Q1 25 | 0.13× | 0.58× | ||
| Q4 24 | 0.14× | 0.60× | ||
| Q3 24 | 0.15× | 0.64× | ||
| Q2 24 | 0.16× | 0.63× | ||
| Q1 24 | 0.16× | 0.65× |
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 | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $42.2M | $321.0M |
| 自由现金流率自由现金流/营收 | 5.0% | 30.8% |
| 资本支出强度资本支出/营收 | 15.8% | 2.7% |
| 现金转化率经营现金流/净利润 | 1.24× | 13.96× |
| 过去12个月自由现金流最近4个季度 | $153.7M | $626.0M |
8季度趋势，按日历期对齐
经营现金流MATXRIG
| Q4 25 | $176.9M | $349.0M | ||
| Q3 25 | $175.6M | $246.0M | ||
| Q2 25 | $105.6M | $128.0M | ||
| Q1 25 | $89.0M | $26.0M | ||
| Q4 24 | $174.7M | $206.0M | ||
| Q3 24 | $248.6M | $194.0M | ||
| Q2 24 | $307.9M | $133.0M | ||
| Q1 24 | $36.6M | $-86.0M |
自由现金流MATXRIG
| Q4 25 | $42.2M | $321.0M | ||
| Q3 25 | $92.4M | $235.0M | ||
| Q2 25 | $19.3M | $104.0M | ||
| Q1 25 | $-200.0K | $-34.0M | ||
| Q4 24 | $49.3M | $177.0M | ||
| Q3 24 | $189.0M | $136.0M | ||
| Q2 24 | $238.1M | $49.0M | ||
| Q1 24 | $-18.7M | $-169.0M |
自由现金流率MATXRIG
| Q4 25 | 5.0% | 30.8% | ||
| Q3 25 | 10.5% | 22.9% | ||
| Q2 25 | 2.3% | 10.5% | ||
| Q1 25 | -0.0% | -3.8% | ||
| Q4 24 | 5.5% | 18.6% | ||
| Q3 24 | 19.6% | 14.3% | ||
| Q2 24 | 28.1% | 5.7% | ||
| Q1 24 | -2.6% | -22.1% |
资本支出强度MATXRIG
| Q4 25 | 15.8% | 2.7% | ||
| Q3 25 | 9.5% | 1.1% | ||
| Q2 25 | 10.4% | 2.4% | ||
| Q1 25 | 11.4% | 6.6% | ||
| Q4 24 | 14.1% | 3.0% | ||
| Q3 24 | 6.2% | 6.1% | ||
| Q2 24 | 8.2% | 9.8% | ||
| Q1 24 | 7.7% | 10.9% |
现金转化率MATXRIG
| Q4 25 | 1.24× | 13.96× | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 1.12× | — | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 1.36× | 29.43× | ||
| Q3 24 | 1.25× | — | ||
| Q2 24 | 2.72× | — | ||
| Q1 24 | 1.01× | -0.88× |
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% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
