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美森（MATX）与Tyler Technologies（TYL）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Tyler Technologies的1.4倍（$851.9M vs $613.5M），美森净利率更高（16.8% vs 13.2%，领先3.6%），Tyler Technologies同比增速更快（8.6% vs -4.3%），美森自由现金流更多（$42.2M vs $2.0M），过去两年美森的营收复合增速更高（8.6% vs 6.5%）
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。
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
MATX vs TYL — 直观对比
营收规模更大
MATX
是对方的1.4倍
$613.5M
营收增速更快
TYL
高出12.9%
-4.3%
净利率更高
MATX
高出3.6%
13.2%
自由现金流更多
MATX
多$40.2M
$2.0M
两年增速更快
MATX
近两年复合增速
6.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $851.9M | $613.5M |
| 净利润 | $143.1M | $81.2M |
| 毛利率 | — | 48.3% |
| 营业利润率 | 16.9% | 16.3% |
| 净利率 | 16.8% | 13.2% |
| 营收同比 | -4.3% | 8.6% |
| 净利润同比 | 11.8% | — |
| 每股收益（稀释后） | $4.47 | $1.88 |
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MATXTYL
| Q1 26 | — | $613.5M | ||
| Q4 25 | $851.9M | $575.2M | ||
| Q3 25 | $880.1M | $595.9M | ||
| Q2 25 | $830.5M | $596.1M | ||
| Q1 25 | $782.0M | $565.2M | ||
| Q4 24 | $890.3M | $541.1M | ||
| Q3 24 | $962.0M | $543.3M | ||
| Q2 24 | $847.4M | $541.0M |
净利润MATXTYL
| Q1 26 | — | $81.2M | ||
| Q4 25 | $143.1M | $65.5M | ||
| Q3 25 | $134.7M | $84.4M | ||
| Q2 25 | $94.7M | $84.6M | ||
| Q1 25 | $72.3M | $81.1M | ||
| Q4 24 | $128.0M | $65.2M | ||
| Q3 24 | $199.1M | $75.9M | ||
| Q2 24 | $113.2M | $67.7M |
毛利率MATXTYL
| Q1 26 | — | 48.3% | ||
| Q4 25 | — | 45.5% | ||
| Q3 25 | — | 47.2% | ||
| Q2 25 | — | 45.8% | ||
| Q1 25 | — | 47.3% | ||
| Q4 24 | — | 43.8% | ||
| Q3 24 | — | 43.7% | ||
| Q2 24 | — | 44.0% |
营业利润率MATXTYL
| Q1 26 | — | 16.3% | ||
| Q4 25 | 16.9% | 13.0% | ||
| Q3 25 | 18.3% | 16.4% | ||
| Q2 25 | 13.6% | 16.0% | ||
| Q1 25 | 10.5% | 15.8% | ||
| Q4 24 | 16.6% | 13.2% | ||
| Q3 24 | 25.2% | 15.2% | ||
| Q2 24 | 14.7% | 14.4% |
净利率MATXTYL
| Q1 26 | — | 13.2% | ||
| Q4 25 | 16.8% | 11.4% | ||
| Q3 25 | 15.3% | 14.2% | ||
| Q2 25 | 11.4% | 14.2% | ||
| Q1 25 | 9.2% | 14.3% | ||
| Q4 24 | 14.4% | 12.1% | ||
| Q3 24 | 20.7% | 14.0% | ||
| Q2 24 | 13.4% | 12.5% |
每股收益（稀释后）MATXTYL
| Q1 26 | — | $1.88 | ||
| Q4 25 | $4.47 | $1.50 | ||
| Q3 25 | $4.24 | $1.93 | ||
| Q2 25 | $2.92 | $1.93 | ||
| Q1 25 | $2.18 | $1.84 | ||
| Q4 24 | $3.69 | $1.48 | ||
| Q3 24 | $5.89 | $1.74 | ||
| Q2 24 | $3.31 | $1.57 |
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 | $346.4M |
| 总债务越低越好 | $361.2M | — |
| 股东权益账面价值 | $2.8B | $3.6B |
| 总资产 | $4.6B | $4.8B |
| 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MATXTYL
| Q1 26 | — | $346.4M | ||
| Q4 25 | $141.9M | $1.1B | ||
| Q3 25 | $92.7M | $950.8M | ||
| Q2 25 | $59.1M | $892.3M | ||
| Q1 25 | $122.0M | $807.4M | ||
| Q4 24 | $266.8M | $768.0M | ||
| Q3 24 | $270.3M | $544.3M | ||
| Q2 24 | $168.2M | $258.0M |
总债务MATXTYL
| Q1 26 | — | — | ||
| Q4 25 | $361.2M | $599.7M | ||
| Q3 25 | $370.9M | $599.2M | ||
| Q2 25 | $341.3M | $598.8M | ||
| Q1 25 | $351.1M | $598.4M | ||
| Q4 24 | $361.2M | $597.9M | ||
| Q3 24 | $370.9M | $597.5M | ||
| Q2 24 | $381.0M | $597.1M |
股东权益MATXTYL
| Q1 26 | — | $3.6B | ||
| Q4 25 | $2.8B | $3.7B | ||
| Q3 25 | $2.7B | $3.6B | ||
| Q2 25 | $2.6B | $3.6B | ||
| Q1 25 | $2.6B | $3.5B | ||
| Q4 24 | $2.7B | $3.4B | ||
| Q3 24 | $2.6B | $3.3B | ||
| Q2 24 | $2.4B | $3.1B |
总资产MATXTYL
| Q1 26 | — | $4.8B | ||
| Q4 25 | $4.6B | $5.6B | ||
| Q3 25 | $4.6B | $5.5B | ||
| Q2 25 | $4.5B | $5.4B | ||
| Q1 25 | $4.5B | $5.2B | ||
| Q4 24 | $4.6B | $5.2B | ||
| Q3 24 | $4.4B | $5.0B | ||
| Q2 24 | $4.3B | $4.8B |
负债/权益比MATXTYL
| Q1 26 | — | — | ||
| Q4 25 | 0.13× | 0.16× | ||
| Q3 25 | 0.14× | 0.17× | ||
| Q2 25 | 0.13× | 0.16× | ||
| Q1 25 | 0.13× | 0.17× | ||
| Q4 24 | 0.14× | 0.18× | ||
| Q3 24 | 0.15× | 0.18× | ||
| Q2 24 | 0.16× | 0.19× |
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 | $107.3M |
| 自由现金流经营现金流 - 资本支出 | $42.2M | $2.0M |
| 自由现金流率自由现金流/营收 | 5.0% | 0.3% |
| 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× | 1.32× |
| 过去12个月自由现金流最近4个季度 | $153.7M | $585.7M |
8季度趋势，按日历期对齐
经营现金流MATXTYL
| Q1 26 | — | $107.3M | ||
| Q4 25 | $176.9M | $243.9M | ||
| Q3 25 | $175.6M | $255.2M | ||
| Q2 25 | $105.6M | $98.3M | ||
| Q1 25 | $89.0M | $56.2M | ||
| Q4 24 | $174.7M | $224.8M | ||
| Q3 24 | $248.6M | $263.7M | ||
| Q2 24 | $307.9M | $64.3M |
自由现金流MATXTYL
| Q1 26 | — | $2.0M | ||
| Q4 25 | $42.2M | $239.6M | ||
| Q3 25 | $92.4M | $251.3M | ||
| Q2 25 | $19.3M | $92.8M | ||
| Q1 25 | $-200.0K | $53.8M | ||
| Q4 24 | $49.3M | $221.0M | ||
| Q3 24 | $189.0M | $260.8M | ||
| Q2 24 | $238.1M | $57.7M |
自由现金流率MATXTYL
| Q1 26 | — | 0.3% | ||
| Q4 25 | 5.0% | 41.7% | ||
| Q3 25 | 10.5% | 42.2% | ||
| Q2 25 | 2.3% | 15.6% | ||
| Q1 25 | -0.0% | 9.5% | ||
| Q4 24 | 5.5% | 40.8% | ||
| Q3 24 | 19.6% | 48.0% | ||
| Q2 24 | 28.1% | 10.7% |
资本支出强度MATXTYL
| Q1 26 | — | — | ||
| Q4 25 | 15.8% | 0.8% | ||
| Q3 25 | 9.5% | 0.7% | ||
| Q2 25 | 10.4% | 0.9% | ||
| Q1 25 | 11.4% | 0.4% | ||
| Q4 24 | 14.1% | 0.7% | ||
| Q3 24 | 6.2% | 0.5% | ||
| Q2 24 | 8.2% | 1.2% |
现金转化率MATXTYL
| Q1 26 | — | 1.32× | ||
| Q4 25 | 1.24× | 3.72× | ||
| Q3 25 | 1.30× | 3.02× | ||
| Q2 25 | 1.12× | 1.16× | ||
| Q1 25 | 1.23× | 0.69× | ||
| Q4 24 | 1.36× | 3.45× | ||
| Q3 24 | 1.25× | 3.47× | ||
| Q2 24 | 2.72× | 0.95× |
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% |
TYL
| Subscriptions | $429.7M | 70% |
| Maintenance | $108.9M | 18% |
| Other | $74.9M | 12% |
