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美森（MATX）与SKYWEST INC（SKYW）财务数据对比。点击上方公司名可切换其他公司
SKYWEST INC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 10.0%，领先6.8%），SKYWEST INC同比增速更快（6.8% vs -4.3%），过去两年美森的营收复合增速更高（8.6% vs 8.1%）
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。
天西航空（SkyWest Inc.）是总部位于美国犹他州圣乔治的控股企业，旗下主营北美支线航空公司天西航空，同时运营飞机租赁业务，是北美区域航空运营领域的重要参与者。
MATX vs SKYW — 直观对比
营收规模更大
SKYW
是对方的1.2倍
$851.9M
营收增速更快
SKYW
高出11.1%
-4.3%
净利率更高
MATX
高出6.8%
10.0%
两年增速更快
MATX
近两年复合增速
8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $851.9M | $1.0B |
| 净利润 | $143.1M | $101.7M |
| 毛利率 | — | — |
| 营业利润率 | 16.9% | 12.2% |
| 净利率 | 16.8% | 10.0% |
| 营收同比 | -4.3% | 6.8% |
| 净利润同比 | 11.8% | 1.1% |
| 每股收益（稀释后） | $4.47 | $2.50 |
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MATXSKYW
| Q1 26 | — | $1.0B | ||
| Q4 25 | $851.9M | $1.0B | ||
| Q3 25 | $880.1M | $1.1B | ||
| Q2 25 | $830.5M | $1.0B | ||
| Q1 25 | $782.0M | $948.5M | ||
| Q4 24 | $890.3M | $944.4M | ||
| Q3 24 | $962.0M | $912.8M | ||
| Q2 24 | $847.4M | $867.1M |
净利润MATXSKYW
| Q1 26 | — | $101.7M | ||
| Q4 25 | $143.1M | $91.2M | ||
| Q3 25 | $134.7M | $116.4M | ||
| Q2 25 | $94.7M | $120.3M | ||
| Q1 25 | $72.3M | $100.6M | ||
| Q4 24 | $128.0M | $97.4M | ||
| Q3 24 | $199.1M | $89.7M | ||
| Q2 24 | $113.2M | $75.6M |
营业利润率MATXSKYW
| Q1 26 | — | 12.2% | ||
| Q4 25 | 16.9% | 13.1% | ||
| Q3 25 | 18.3% | 16.6% | ||
| Q2 25 | 13.6% | 16.4% | ||
| Q1 25 | 10.5% | 14.7% | ||
| Q4 24 | 16.6% | 15.3% | ||
| Q3 24 | 25.2% | 14.4% | ||
| Q2 24 | 14.7% | 13.8% |
净利率MATXSKYW
| Q1 26 | — | 10.0% | ||
| Q4 25 | 16.8% | 8.9% | ||
| Q3 25 | 15.3% | 11.1% | ||
| Q2 25 | 11.4% | 11.6% | ||
| Q1 25 | 9.2% | 10.6% | ||
| Q4 24 | 14.4% | 10.3% | ||
| Q3 24 | 20.7% | 9.8% | ||
| Q2 24 | 13.4% | 8.7% |
每股收益（稀释后）MATXSKYW
| Q1 26 | — | $2.50 | ||
| Q4 25 | $4.47 | $2.21 | ||
| Q3 25 | $4.24 | $2.81 | ||
| Q2 25 | $2.92 | $2.91 | ||
| Q1 25 | $2.18 | $2.42 | ||
| Q4 24 | $3.69 | $2.34 | ||
| Q3 24 | $5.89 | $2.16 | ||
| Q2 24 | $3.31 | $1.82 |
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 | $1.8B |
| 股东权益账面价值 | $2.8B | $2.7B |
| 总资产 | $4.6B | $7.3B |
| 负债/权益比越低杠杆越低 | 0.13× | 0.66× |
8季度趋势，按日历期对齐
现金及短期投资MATXSKYW
| Q1 26 | — | — | ||
| Q4 25 | $141.9M | $122.7M | ||
| Q3 25 | $92.7M | $44.5M | ||
| Q2 25 | $59.1M | $48.3M | ||
| Q1 25 | $122.0M | $179.0M | ||
| Q4 24 | $266.8M | $227.4M | ||
| Q3 24 | $270.3M | $177.6M | ||
| Q2 24 | $168.2M | $141.8M |
总债务MATXSKYW
| Q1 26 | — | $1.8B | ||
| Q4 25 | $361.2M | — | ||
| Q3 25 | $370.9M | $2.4B | ||
| Q2 25 | $341.3M | $2.5B | ||
| Q1 25 | $351.1M | $2.6B | ||
| Q4 24 | $361.2M | $2.7B | ||
| Q3 24 | $370.9M | $2.7B | ||
| Q2 24 | $381.0M | $2.8B |
股东权益MATXSKYW
| Q1 26 | — | $2.7B | ||
| Q4 25 | $2.8B | $2.7B | ||
| Q3 25 | $2.7B | $2.7B | ||
| Q2 25 | $2.6B | $2.6B | ||
| Q1 25 | $2.6B | $2.5B | ||
| Q4 24 | $2.7B | $2.4B | ||
| Q3 24 | $2.6B | $2.3B | ||
| Q2 24 | $2.4B | $2.2B |
总资产MATXSKYW
| Q1 26 | — | $7.3B | ||
| Q4 25 | $4.6B | $7.4B | ||
| Q3 25 | $4.6B | $7.2B | ||
| Q2 25 | $4.5B | $7.2B | ||
| Q1 25 | $4.5B | $7.1B | ||
| Q4 24 | $4.6B | $7.1B | ||
| Q3 24 | $4.4B | $7.0B | ||
| Q2 24 | $4.3B | $7.0B |
负债/权益比MATXSKYW
| Q1 26 | — | 0.66× | ||
| Q4 25 | 0.13× | — | ||
| Q3 25 | 0.14× | 0.89× | ||
| Q2 25 | 0.13× | 0.97× | ||
| Q1 25 | 0.13× | 1.03× | ||
| Q4 24 | 0.14× | 1.11× | ||
| Q3 24 | 0.15× | 1.17× | ||
| Q2 24 | 0.16× | 1.25× |
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MATXSKYW
| Q1 26 | — | — | ||
| Q4 25 | $176.9M | $231.5M | ||
| Q3 25 | $175.6M | $280.8M | ||
| Q2 25 | $105.6M | $257.1M | ||
| Q1 25 | $89.0M | $171.0M | ||
| Q4 24 | $174.7M | $185.9M | ||
| Q3 24 | $248.6M | $183.6M | ||
| Q2 24 | $307.9M | $165.3M |
自由现金流MATXSKYW
| Q1 26 | — | — | ||
| Q4 25 | $42.2M | $224.3M | ||
| Q3 25 | $92.4M | $269.9M | ||
| Q2 25 | $19.3M | $251.5M | ||
| Q1 25 | $-200.0K | $162.6M | ||
| Q4 24 | $49.3M | $162.7M | ||
| Q3 24 | $189.0M | $172.1M | ||
| Q2 24 | $238.1M | $159.4M |
自由现金流率MATXSKYW
| Q1 26 | — | — | ||
| Q4 25 | 5.0% | 21.9% | ||
| Q3 25 | 10.5% | 25.7% | ||
| Q2 25 | 2.3% | 24.3% | ||
| Q1 25 | -0.0% | 17.1% | ||
| Q4 24 | 5.5% | 17.2% | ||
| Q3 24 | 19.6% | 18.9% | ||
| Q2 24 | 28.1% | 18.4% |
资本支出强度MATXSKYW
| Q1 26 | — | — | ||
| Q4 25 | 15.8% | 0.7% | ||
| Q3 25 | 9.5% | 1.0% | ||
| Q2 25 | 10.4% | 0.5% | ||
| Q1 25 | 11.4% | 0.9% | ||
| Q4 24 | 14.1% | 2.5% | ||
| Q3 24 | 6.2% | 1.3% | ||
| Q2 24 | 8.2% | 0.7% |
现金转化率MATXSKYW
| Q1 26 | — | — | ||
| Q4 25 | 1.24× | 2.54× | ||
| Q3 25 | 1.30× | 2.41× | ||
| Q2 25 | 1.12× | 2.14× | ||
| Q1 25 | 1.23× | 1.70× | ||
| Q4 24 | 1.36× | 1.91× | ||
| Q3 24 | 1.25× | 2.05× | ||
| Q2 24 | 2.72× | 2.19× |
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% |
SKYW
| Flying agreements | $977.9M | 97% |
| Lease, airport services and other | $35.3M | 3% |
