vs
美森（MATX）与STEPAN CO（SCL）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STEPAN CO的1.4倍（$851.9M vs $604.5M），美森净利率更高（16.8% vs 3.3%，领先13.5%），STEPAN CO同比增速更快（1.9% vs -4.3%），过去两年美森的营收复合增速更高（8.6% vs 4.2%）
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。
斯特潘公司是一家美国特种化学品制造商，总部位于伊利诺伊州诺斯布鲁克，1932年由小阿尔弗雷德·C·斯特潘创立，现有约2000名员工，目前由创始人的孙子小F·奎因·斯特潘执掌。该公司是全球最大的阴离子表面活性剂商品生产商，产品用于提升洗涤剂、洗发水、牙膏及化妆品的起泡与清洁能力。
MATX vs SCL — 直观对比
营收规模更大
MATX
是对方的1.4倍
$604.5M
营收增速更快
SCL
高出6.2%
-4.3%
净利率更高
MATX
高出13.5%
3.3%
两年增速更快
MATX
近两年复合增速
4.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $851.9M | $604.5M |
| 净利润 | $143.1M | $19.7M |
| 毛利率 | — | 10.7% |
| 营业利润率 | 16.9% | 4.7% |
| 净利率 | 16.8% | 3.3% |
| 营收同比 | -4.3% | 1.9% |
| 净利润同比 | 11.8% | — |
| 每股收益（稀释后） | $4.47 | $0.86 |
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MATXSCL
| Q1 26 | — | $604.5M | ||
| Q4 25 | $851.9M | $553.9M | ||
| Q3 25 | $880.1M | $590.3M | ||
| Q2 25 | $830.5M | $594.7M | ||
| Q1 25 | $782.0M | $593.3M | ||
| Q4 24 | $890.3M | $525.6M | ||
| Q3 24 | $962.0M | $546.8M | ||
| Q2 24 | $847.4M | $556.4M |
净利润MATXSCL
| Q1 26 | — | $19.7M | ||
| Q4 25 | $143.1M | $5.0M | ||
| Q3 25 | $134.7M | $10.8M | ||
| Q2 25 | $94.7M | $11.3M | ||
| Q1 25 | $72.3M | $19.7M | ||
| Q4 24 | $128.0M | $3.4M | ||
| Q3 24 | $199.1M | $23.6M | ||
| Q2 24 | $113.2M | $9.5M |
毛利率MATXSCL
| Q1 26 | — | 10.7% | ||
| Q4 25 | — | 9.3% | ||
| Q3 25 | — | 12.0% | ||
| Q2 25 | — | 12.1% | ||
| Q1 25 | — | 12.7% | ||
| Q4 24 | — | 10.8% | ||
| Q3 24 | — | 13.8% | ||
| Q2 24 | — | 12.5% |
营业利润率MATXSCL
| Q1 26 | — | 4.7% | ||
| Q4 25 | 16.9% | 1.9% | ||
| Q3 25 | 18.3% | 3.7% | ||
| Q2 25 | 13.6% | 3.0% | ||
| Q1 25 | 10.5% | 4.8% | ||
| Q4 24 | 16.6% | 1.5% | ||
| Q3 24 | 25.2% | 4.4% | ||
| Q2 24 | 14.7% | 3.4% |
净利率MATXSCL
| Q1 26 | — | 3.3% | ||
| Q4 25 | 16.8% | 0.9% | ||
| Q3 25 | 15.3% | 1.8% | ||
| Q2 25 | 11.4% | 1.9% | ||
| Q1 25 | 9.2% | 3.3% | ||
| Q4 24 | 14.4% | 0.6% | ||
| Q3 24 | 20.7% | 4.3% | ||
| Q2 24 | 13.4% | 1.7% |
每股收益（稀释后）MATXSCL
| Q1 26 | — | $0.86 | ||
| Q4 25 | $4.47 | $0.22 | ||
| Q3 25 | $4.24 | $0.47 | ||
| Q2 25 | $2.92 | $0.50 | ||
| Q1 25 | $2.18 | $0.86 | ||
| Q4 24 | $3.69 | $0.14 | ||
| Q3 24 | $5.89 | $1.03 | ||
| Q2 24 | $3.31 | $0.42 |
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 | $328.4M |
| 股东权益账面价值 | $2.8B | $1.2B |
| 总资产 | $4.6B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.13× | 0.28× |
8季度趋势，按日历期对齐
现金及短期投资MATXSCL
| Q1 26 | — | — | ||
| Q4 25 | $141.9M | $132.7M | ||
| Q3 25 | $92.7M | $118.5M | ||
| Q2 25 | $59.1M | $88.9M | ||
| Q1 25 | $122.0M | $107.5M | ||
| Q4 24 | $266.8M | $99.7M | ||
| Q3 24 | $270.3M | $147.3M | ||
| Q2 24 | $168.2M | $124.7M |
总债务MATXSCL
| Q1 26 | — | $328.4M | ||
| Q4 25 | $361.2M | $626.7M | ||
| Q3 25 | $370.9M | $655.5M | ||
| Q2 25 | $341.3M | $658.0M | ||
| Q1 25 | $351.1M | $659.3M | ||
| Q4 24 | $361.2M | $625.4M | ||
| Q3 24 | $370.9M | $688.5M | ||
| Q2 24 | $381.0M | $657.1M |
股东权益MATXSCL
| Q1 26 | — | $1.2B | ||
| Q4 25 | $2.8B | $1.2B | ||
| Q3 25 | $2.7B | $1.2B | ||
| Q2 25 | $2.6B | $1.2B | ||
| Q1 25 | $2.6B | $1.2B | ||
| Q4 24 | $2.7B | $1.2B | ||
| Q3 24 | $2.6B | $1.2B | ||
| Q2 24 | $2.4B | $1.2B |
总资产MATXSCL
| Q1 26 | — | $2.3B | ||
| Q4 25 | $4.6B | $2.4B | ||
| Q3 25 | $4.6B | $2.4B | ||
| Q2 25 | $4.5B | $2.4B | ||
| Q1 25 | $4.5B | $2.4B | ||
| Q4 24 | $4.6B | $2.3B | ||
| Q3 24 | $4.4B | $2.4B | ||
| Q2 24 | $4.3B | $2.3B |
负债/权益比MATXSCL
| Q1 26 | — | 0.28× | ||
| Q4 25 | 0.13× | 0.50× | ||
| Q3 25 | 0.14× | 0.53× | ||
| Q2 25 | 0.13× | 0.53× | ||
| Q1 25 | 0.13× | 0.55× | ||
| Q4 24 | 0.14× | 0.53× | ||
| Q3 24 | 0.15× | 0.56× | ||
| Q2 24 | 0.16× | 0.55× |
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MATXSCL
| Q1 26 | — | — | ||
| Q4 25 | $176.9M | $60.0M | ||
| Q3 25 | $175.6M | $69.8M | ||
| Q2 25 | $105.6M | $11.2M | ||
| Q1 25 | $89.0M | $6.9M | ||
| Q4 24 | $174.7M | $68.3M | ||
| Q3 24 | $248.6M | $22.7M | ||
| Q2 24 | $307.9M | $29.5M |
自由现金流MATXSCL
| Q1 26 | — | — | ||
| Q4 25 | $42.2M | $25.4M | ||
| Q3 25 | $92.4M | $40.2M | ||
| Q2 25 | $19.3M | $-14.4M | ||
| Q1 25 | $-200.0K | $-25.8M | ||
| Q4 24 | $49.3M | $32.1M | ||
| Q3 24 | $189.0M | $-4.0M | ||
| Q2 24 | $238.1M | $-208.0K |
自由现金流率MATXSCL
| Q1 26 | — | — | ||
| Q4 25 | 5.0% | 4.6% | ||
| Q3 25 | 10.5% | 6.8% | ||
| Q2 25 | 2.3% | -2.4% | ||
| Q1 25 | -0.0% | -4.3% | ||
| Q4 24 | 5.5% | 6.1% | ||
| Q3 24 | 19.6% | -0.7% | ||
| Q2 24 | 28.1% | -0.0% |
资本支出强度MATXSCL
| Q1 26 | — | — | ||
| Q4 25 | 15.8% | 6.3% | ||
| Q3 25 | 9.5% | 5.0% | ||
| Q2 25 | 10.4% | 4.3% | ||
| Q1 25 | 11.4% | 5.5% | ||
| Q4 24 | 14.1% | 6.9% | ||
| Q3 24 | 6.2% | 4.9% | ||
| Q2 24 | 8.2% | 5.3% |
现金转化率MATXSCL
| Q1 26 | — | — | ||
| Q4 25 | 1.24× | 11.99× | ||
| Q3 25 | 1.30× | 6.44× | ||
| Q2 25 | 1.12× | 0.99× | ||
| Q1 25 | 1.23× | 0.35× | ||
| Q4 24 | 1.36× | 20.38× | ||
| Q3 24 | 1.25× | 0.96× | ||
| Q2 24 | 2.72× | 3.10× |
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% |
SCL
| Surfactants | $453.7M | 75% |
| Polymers | $130.0M | 22% |
| Specialty Products | $20.8M | 3% |
