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美森（MATX）与BOSTON BEER CO INC（SAM）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BOSTON BEER CO INC的1.8倍（$851.9M vs $461.6M），BOSTON BEER CO INC同比增速更快（-4.1% vs -4.3%），过去两年美森的营收复合增速更高（8.6% vs -10.7%）
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。
波士顿啤酒公司是美国知名酿酒企业，1984年由吉姆·科赫与朗达·卡尔曼联合创立。旗下首款产品以美国开国元勋、独立运动先驱塞缪尔·亚当斯命名，后续陆续推出多个自有品牌，2019年正式完成与角鲨头酿酒厂的合并，是北美精酿啤酒行业的核心参与者之一。
MATX vs SAM — 直观对比
营收规模更大
MATX
是对方的1.8倍
$461.6M
营收增速更快
SAM
高出0.2%
-4.3%
两年增速更快
MATX
近两年复合增速
-10.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $851.9M | $461.6M |
| 净利润 | $143.1M | — |
| 毛利率 | — | 46.4% |
| 营业利润率 | 16.9% | 12.4% |
| 净利率 | 16.8% | — |
| 营收同比 | -4.3% | -4.1% |
| 净利润同比 | 11.8% | — |
| 每股收益（稀释后） | $4.47 | $2.16 |
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MATXSAM
| Q1 26 | — | $461.6M | ||
| Q4 25 | $851.9M | $385.7M | ||
| Q3 25 | $880.1M | $537.5M | ||
| Q2 25 | $830.5M | $587.9M | ||
| Q1 25 | $782.0M | $453.9M | ||
| Q4 24 | $890.3M | $402.3M | ||
| Q3 24 | $962.0M | $605.5M | ||
| Q2 24 | $847.4M | $579.1M |
净利润MATXSAM
| Q1 26 | — | — | ||
| Q4 25 | $143.1M | $-22.5M | ||
| Q3 25 | $134.7M | $46.2M | ||
| Q2 25 | $94.7M | $60.4M | ||
| Q1 25 | $72.3M | $24.4M | ||
| Q4 24 | $128.0M | $-38.8M | ||
| Q3 24 | $199.1M | $33.5M | ||
| Q2 24 | $113.2M | $52.3M |
毛利率MATXSAM
| Q1 26 | — | 46.4% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | 50.8% | ||
| Q2 25 | — | 49.8% | ||
| Q1 25 | — | 48.3% | ||
| Q4 24 | — | 39.9% | ||
| Q3 24 | — | 46.3% | ||
| Q2 24 | — | 46.0% |
营业利润率MATXSAM
| Q1 26 | — | 12.4% | ||
| Q4 25 | 16.9% | -8.6% | ||
| Q3 25 | 18.3% | 11.5% | ||
| Q2 25 | 13.6% | 14.0% | ||
| Q1 25 | 10.5% | 7.4% | ||
| Q4 24 | 16.6% | -13.9% | ||
| Q3 24 | 25.2% | 7.6% | ||
| Q2 24 | 14.7% | 12.2% |
净利率MATXSAM
| Q1 26 | — | — | ||
| Q4 25 | 16.8% | -5.8% | ||
| Q3 25 | 15.3% | 8.6% | ||
| Q2 25 | 11.4% | 10.3% | ||
| Q1 25 | 9.2% | 5.4% | ||
| Q4 24 | 14.4% | -9.6% | ||
| Q3 24 | 20.7% | 5.5% | ||
| Q2 24 | 13.4% | 9.0% |
每股收益（稀释后）MATXSAM
| Q1 26 | — | $2.16 | ||
| Q4 25 | $4.47 | $-1.97 | ||
| Q3 25 | $4.24 | $4.25 | ||
| Q2 25 | $2.92 | $5.45 | ||
| Q1 25 | $2.18 | $2.16 | ||
| Q4 24 | $3.69 | $-3.23 | ||
| Q3 24 | $5.89 | $2.86 | ||
| Q2 24 | $3.31 | $4.39 |
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 | $164.1M |
| 总债务越低越好 | $361.2M | — |
| 股东权益账面价值 | $2.8B | $682.6M |
| 总资产 | $4.6B | $1.2B |
| 负债/权益比越低杠杆越低 | 0.13× | — |
8季度趋势，按日历期对齐
现金及短期投资MATXSAM
| Q1 26 | — | $164.1M | ||
| Q4 25 | $141.9M | $223.4M | ||
| Q3 25 | $92.7M | $250.5M | ||
| Q2 25 | $59.1M | $212.4M | ||
| Q1 25 | $122.0M | $152.5M | ||
| Q4 24 | $266.8M | $211.8M | ||
| Q3 24 | $270.3M | $255.6M | ||
| Q2 24 | $168.2M | $219.3M |
总债务MATXSAM
| Q1 26 | — | — | ||
| Q4 25 | $361.2M | — | ||
| Q3 25 | $370.9M | — | ||
| Q2 25 | $341.3M | — | ||
| Q1 25 | $351.1M | — | ||
| Q4 24 | $361.2M | — | ||
| Q3 24 | $370.9M | — | ||
| Q2 24 | $381.0M | — |
股东权益MATXSAM
| Q1 26 | — | $682.6M | ||
| Q4 25 | $2.8B | $846.3M | ||
| Q3 25 | $2.7B | $911.0M | ||
| Q2 25 | $2.6B | $912.3M | ||
| Q1 25 | $2.6B | $897.0M | ||
| Q4 24 | $2.7B | $916.2M | ||
| Q3 24 | $2.6B | $1.0B | ||
| Q2 24 | $2.4B | $1.0B |
总资产MATXSAM
| Q1 26 | — | $1.2B | ||
| Q4 25 | $4.6B | $1.2B | ||
| Q3 25 | $4.6B | $1.2B | ||
| Q2 25 | $4.5B | $1.3B | ||
| Q1 25 | $4.5B | $1.2B | ||
| Q4 24 | $4.6B | $1.3B | ||
| Q3 24 | $4.4B | $1.4B | ||
| Q2 24 | $4.3B | $1.4B |
负债/权益比MATXSAM
| Q1 26 | — | — | ||
| Q4 25 | 0.13× | — | ||
| Q3 25 | 0.14× | — | ||
| Q2 25 | 0.13× | — | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | 0.14× | — | ||
| 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 | — |
| 自由现金流率自由现金流/营收 | 5.0% | — |
| 资本支出强度资本支出/营收 | 15.8% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流MATXSAM
| Q1 26 | — | — | ||
| Q4 25 | $176.9M | $39.9M | ||
| Q3 25 | $175.6M | $101.8M | ||
| Q2 25 | $105.6M | $126.5M | ||
| Q1 25 | $89.0M | $1.9M | ||
| Q4 24 | $174.7M | $41.9M | ||
| Q3 24 | $248.6M | $115.9M | ||
| Q2 24 | $307.9M | $96.0M |
自由现金流MATXSAM
| Q1 26 | — | — | ||
| Q4 25 | $42.2M | $22.1M | ||
| Q3 25 | $92.4M | $89.2M | ||
| Q2 25 | $19.3M | $112.2M | ||
| Q1 25 | $-200.0K | $-8.0M | ||
| Q4 24 | $49.3M | $18.4M | ||
| Q3 24 | $189.0M | $99.2M | ||
| Q2 24 | $238.1M | $75.6M |
自由现金流率MATXSAM
| Q1 26 | — | — | ||
| Q4 25 | 5.0% | 5.7% | ||
| Q3 25 | 10.5% | 16.6% | ||
| Q2 25 | 2.3% | 19.1% | ||
| Q1 25 | -0.0% | -1.8% | ||
| Q4 24 | 5.5% | 4.6% | ||
| Q3 24 | 19.6% | 16.4% | ||
| Q2 24 | 28.1% | 13.1% |
资本支出强度MATXSAM
| Q1 26 | — | — | ||
| Q4 25 | 15.8% | 4.6% | ||
| Q3 25 | 9.5% | 2.3% | ||
| Q2 25 | 10.4% | 2.4% | ||
| Q1 25 | 11.4% | 2.2% | ||
| Q4 24 | 14.1% | 5.8% | ||
| Q3 24 | 6.2% | 2.8% | ||
| Q2 24 | 8.2% | 3.5% |
现金转化率MATXSAM
| Q1 26 | — | — | ||
| Q4 25 | 1.24× | — | ||
| Q3 25 | 1.30× | 2.21× | ||
| Q2 25 | 1.12× | 2.09× | ||
| Q1 25 | 1.23× | 0.08× | ||
| Q4 24 | 1.36× | — | ||
| Q3 24 | 1.25× | 3.46× | ||
| Q2 24 | 2.72× | 1.83× |
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% |
SAM
暂无分部数据
