vs
美森（MATX）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
思佳讯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 7.6%，领先9.1%），思佳讯同比增速更快（8.6% vs -4.3%），思佳讯自由现金流更多（$339.0M vs $42.2M），过去两年美森的营收复合增速更高（8.6% vs -0.5%）
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。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
MATX vs SWKS — 直观对比
营收规模更大
SWKS
是对方的1.2倍
$851.9M
营收增速更快
SWKS
高出12.9%
-4.3%
净利率更高
MATX
高出9.1%
7.6%
自由现金流更多
SWKS
多$296.8M
$42.2M
两年增速更快
MATX
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $851.9M | $1.0B |
| 净利润 | $143.1M | $79.2M |
| 毛利率 | — | 41.3% |
| 营业利润率 | 16.9% | 10.0% |
| 净利率 | 16.8% | 7.6% |
| 营收同比 | -4.3% | 8.6% |
| 净利润同比 | 11.8% | 15.3% |
| 每股收益（稀释后） | $4.47 | $0.53 |
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MATXSWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $851.9M | $1.1B | ||
| Q3 25 | $880.1M | — | ||
| Q2 25 | $830.5M | $965.0M | ||
| Q1 25 | $782.0M | $953.2M | ||
| Q4 24 | $890.3M | $1.1B | ||
| Q3 24 | $962.0M | $1.0B | ||
| Q2 24 | $847.4M | $905.5M |
净利润MATXSWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $143.1M | $141.4M | ||
| Q3 25 | $134.7M | — | ||
| Q2 25 | $94.7M | $105.0M | ||
| Q1 25 | $72.3M | $68.7M | ||
| Q4 24 | $128.0M | $162.0M | ||
| Q3 24 | $199.1M | $60.5M | ||
| Q2 24 | $113.2M | $120.9M |
毛利率MATXSWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | — | 40.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 41.6% | ||
| Q1 25 | — | 41.1% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 41.9% | ||
| Q2 24 | — | 40.2% |
营业利润率MATXSWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | 16.9% | 10.1% | ||
| Q3 25 | 18.3% | — | ||
| Q2 25 | 13.6% | 11.5% | ||
| Q1 25 | 10.5% | 10.2% | ||
| Q4 24 | 16.6% | 16.9% | ||
| Q3 24 | 25.2% | 5.8% | ||
| Q2 24 | 14.7% | 14.4% |
净利率MATXSWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | 16.8% | 12.9% | ||
| Q3 25 | 15.3% | — | ||
| Q2 25 | 11.4% | 10.9% | ||
| Q1 25 | 9.2% | 7.2% | ||
| Q4 24 | 14.4% | 15.2% | ||
| Q3 24 | 20.7% | 5.9% | ||
| Q2 24 | 13.4% | 13.4% |
每股收益（稀释后）MATXSWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $4.47 | $0.95 | ||
| Q3 25 | $4.24 | — | ||
| Q2 25 | $2.92 | $0.70 | ||
| Q1 25 | $2.18 | $0.43 | ||
| Q4 24 | $3.69 | $1.00 | ||
| Q3 24 | $5.89 | $0.36 | ||
| Q2 24 | $3.31 | $0.75 |
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 | $1.6B |
| 总债务越低越好 | $361.2M | $496.6M |
| 股东权益账面价值 | $2.8B | $5.8B |
| 总资产 | $4.6B | $7.9B |
| 负债/权益比越低杠杆越低 | 0.13× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资MATXSWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $141.9M | $1.4B | ||
| Q3 25 | $92.7M | — | ||
| Q2 25 | $59.1M | $1.3B | ||
| Q1 25 | $122.0M | $1.5B | ||
| Q4 24 | $266.8M | $1.7B | ||
| Q3 24 | $270.3M | $1.6B | ||
| Q2 24 | $168.2M | $1.3B |
总债务MATXSWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | $361.2M | $496.4M | ||
| Q3 25 | $370.9M | — | ||
| Q2 25 | $341.3M | $496.2M | ||
| Q1 25 | $351.1M | $995.1M | ||
| Q4 24 | $361.2M | $994.7M | ||
| Q3 24 | $370.9M | $994.3M | ||
| Q2 24 | $381.0M | $994.0M |
股东权益MATXSWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $2.8B | $5.8B | ||
| Q3 25 | $2.7B | — | ||
| Q2 25 | $2.6B | $5.7B | ||
| Q1 25 | $2.6B | $5.9B | ||
| Q4 24 | $2.7B | $6.4B | ||
| Q3 24 | $2.6B | $6.3B | ||
| Q2 24 | $2.4B | $6.3B |
总资产MATXSWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $4.6B | $7.9B | ||
| Q3 25 | $4.6B | — | ||
| Q2 25 | $4.5B | $7.7B | ||
| Q1 25 | $4.5B | $7.9B | ||
| Q4 24 | $4.6B | $8.3B | ||
| Q3 24 | $4.4B | $8.3B | ||
| Q2 24 | $4.3B | $8.2B |
负债/权益比MATXSWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | 0.13× | 0.09× | ||
| Q3 25 | 0.14× | — | ||
| Q2 25 | 0.13× | 0.09× | ||
| Q1 25 | 0.13× | 0.17× | ||
| Q4 24 | 0.14× | 0.16× | ||
| Q3 24 | 0.15× | 0.16× | ||
| Q2 24 | 0.16× | 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 | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $42.2M | $339.0M |
| 自由现金流率自由现金流/营收 | 5.0% | 32.7% |
| 资本支出强度资本支出/营收 | 15.8% | 5.5% |
| 现金转化率经营现金流/净利润 | 1.24× | 4.99× |
| 过去12个月自由现金流最近4个季度 | $153.7M | $1.1B |
8季度趋势，按日历期对齐
经营现金流MATXSWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $176.9M | $200.0M | ||
| Q3 25 | $175.6M | — | ||
| Q2 25 | $105.6M | $314.2M | ||
| Q1 25 | $89.0M | $409.4M | ||
| Q4 24 | $174.7M | $377.2M | ||
| Q3 24 | $248.6M | $476.1M | ||
| Q2 24 | $307.9M | $273.4M |
自由现金流MATXSWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $42.2M | $144.0M | ||
| Q3 25 | $92.4M | — | ||
| Q2 25 | $19.3M | $252.7M | ||
| Q1 25 | $-200.0K | $370.9M | ||
| Q4 24 | $49.3M | $338.2M | ||
| Q3 24 | $189.0M | $393.3M | ||
| Q2 24 | $238.1M | $249.0M |
自由现金流率MATXSWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | 5.0% | 13.1% | ||
| Q3 25 | 10.5% | — | ||
| Q2 25 | 2.3% | 26.2% | ||
| Q1 25 | -0.0% | 38.9% | ||
| Q4 24 | 5.5% | 31.7% | ||
| Q3 24 | 19.6% | 38.4% | ||
| Q2 24 | 28.1% | 27.5% |
资本支出强度MATXSWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 15.8% | 5.1% | ||
| Q3 25 | 9.5% | — | ||
| Q2 25 | 10.4% | 6.4% | ||
| Q1 25 | 11.4% | 4.0% | ||
| Q4 24 | 14.1% | 3.6% | ||
| Q3 24 | 6.2% | 8.1% | ||
| Q2 24 | 8.2% | 2.7% |
现金转化率MATXSWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | 1.24× | 1.41× | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 1.12× | 2.99× | ||
| Q1 25 | 1.23× | 5.96× | ||
| Q4 24 | 1.36× | 2.33× | ||
| Q3 24 | 1.25× | 7.87× | ||
| Q2 24 | 2.72× | 2.26× |
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% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
