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美森（MATX）与Ubiquiti Inc.（UI）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Ubiquiti Inc.的1.0倍（$851.9M vs $814.9M），Ubiquiti Inc.净利率更高（28.7% vs 16.8%，领先11.9%），Ubiquiti Inc.同比增速更快（35.8% vs -4.3%），Ubiquiti Inc.自由现金流更多（$260.3M vs $42.2M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs 8.6%）
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。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
MATX vs UI — 直观对比
营收规模更大
MATX
是对方的1.0倍
$814.9M
营收增速更快
UI
高出40.2%
-4.3%
净利率更高
UI
高出11.9%
16.8%
自由现金流更多
UI
多$218.1M
$42.2M
两年增速更快
UI
近两年复合增速
8.6%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $851.9M | $814.9M |
| 净利润 | $143.1M | $233.6M |
| 毛利率 | — | 45.9% |
| 营业利润率 | 16.9% | 35.9% |
| 净利率 | 16.8% | 28.7% |
| 营收同比 | -4.3% | 35.8% |
| 净利润同比 | 11.8% | 70.8% |
| 每股收益（稀释后） | $4.47 | $3.86 |
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MATXUI
| Q4 25 | $851.9M | $814.9M | ||
| Q3 25 | $880.1M | $733.8M | ||
| Q2 25 | $830.5M | $759.2M | ||
| Q1 25 | $782.0M | $664.2M | ||
| Q4 24 | $890.3M | $599.9M | ||
| Q3 24 | $962.0M | $550.3M | ||
| Q2 24 | $847.4M | $507.5M | ||
| Q1 24 | $722.1M | $493.0M |
净利润MATXUI
| Q4 25 | $143.1M | $233.6M | ||
| Q3 25 | $134.7M | $207.9M | ||
| Q2 25 | $94.7M | $266.7M | ||
| Q1 25 | $72.3M | $180.4M | ||
| Q4 24 | $128.0M | $136.8M | ||
| Q3 24 | $199.1M | $128.0M | ||
| Q2 24 | $113.2M | $103.8M | ||
| Q1 24 | $36.1M | $76.3M |
毛利率MATXUI
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 46.0% | ||
| Q2 25 | — | 45.1% | ||
| Q1 25 | — | 44.5% | ||
| Q4 24 | — | 41.2% | ||
| Q3 24 | — | 42.1% | ||
| Q2 24 | — | 40.2% | ||
| Q1 24 | — | 35.3% |
营业利润率MATXUI
| Q4 25 | 16.9% | 35.9% | ||
| Q3 25 | 18.3% | 35.7% | ||
| Q2 25 | 13.6% | 34.4% | ||
| Q1 25 | 10.5% | 34.2% | ||
| Q4 24 | 16.6% | 29.8% | ||
| Q3 24 | 25.2% | 30.7% | ||
| Q2 24 | 14.7% | 27.3% | ||
| Q1 24 | 5.1% | 22.6% |
净利率MATXUI
| Q4 25 | 16.8% | 28.7% | ||
| Q3 25 | 15.3% | 28.3% | ||
| Q2 25 | 11.4% | 35.1% | ||
| Q1 25 | 9.2% | 27.2% | ||
| Q4 24 | 14.4% | 22.8% | ||
| Q3 24 | 20.7% | 23.3% | ||
| Q2 24 | 13.4% | 20.5% | ||
| Q1 24 | 5.0% | 15.5% |
每股收益（稀释后）MATXUI
| Q4 25 | $4.47 | $3.86 | ||
| Q3 25 | $4.24 | $3.43 | ||
| Q2 25 | $2.92 | $4.40 | ||
| Q1 25 | $2.18 | $2.98 | ||
| Q4 24 | $3.69 | $2.26 | ||
| Q3 24 | $5.89 | $2.12 | ||
| Q2 24 | $3.31 | $1.72 | ||
| Q1 24 | $1.04 | $1.26 |
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 | $302.8M |
| 总债务越低越好 | $361.2M | $47.5M |
| 股东权益账面价值 | $2.8B | $1.0B |
| 总资产 | $4.6B | $1.6B |
| 负债/权益比越低杠杆越低 | 0.13× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资MATXUI
| Q4 25 | $141.9M | $302.8M | ||
| Q3 25 | $92.7M | $177.2M | ||
| Q2 25 | $59.1M | $149.7M | ||
| Q1 25 | $122.0M | $151.0M | ||
| Q4 24 | $266.8M | $133.1M | ||
| Q3 24 | $270.3M | $165.2M | ||
| Q2 24 | $168.2M | $126.3M | ||
| Q1 24 | $25.9M | $102.5M |
总债务MATXUI
| Q4 25 | $361.2M | $47.5M | ||
| Q3 25 | $370.9M | $133.8M | ||
| Q2 25 | $341.3M | $250.0M | ||
| Q1 25 | $351.1M | $340.0M | ||
| Q4 24 | $361.2M | $406.3M | ||
| Q3 24 | $370.9M | $552.5M | ||
| Q2 24 | $381.0M | $708.1M | ||
| Q1 24 | $390.8M | $877.5M |
股东权益MATXUI
| Q4 25 | $2.8B | $1.0B | ||
| Q3 25 | $2.7B | $828.4M | ||
| Q2 25 | $2.6B | $668.3M | ||
| Q1 25 | $2.6B | $436.1M | ||
| Q4 24 | $2.7B | $290.4M | ||
| Q3 24 | $2.6B | $188.1M | ||
| Q2 24 | $2.4B | $95.1M | ||
| Q1 24 | $2.4B | $25.9M |
总资产MATXUI
| Q4 25 | $4.6B | $1.6B | ||
| Q3 25 | $4.6B | $1.5B | ||
| Q2 25 | $4.5B | $1.5B | ||
| Q1 25 | $4.5B | $1.3B | ||
| Q4 24 | $4.6B | $1.2B | ||
| Q3 24 | $4.4B | $1.2B | ||
| Q2 24 | $4.3B | $1.2B | ||
| Q1 24 | $4.2B | $1.2B |
负债/权益比MATXUI
| Q4 25 | 0.13× | 0.05× | ||
| Q3 25 | 0.14× | 0.16× | ||
| Q2 25 | 0.13× | 0.37× | ||
| Q1 25 | 0.13× | 0.78× | ||
| Q4 24 | 0.14× | 1.40× | ||
| Q3 24 | 0.15× | 2.94× | ||
| Q2 24 | 0.16× | 7.45× | ||
| Q1 24 | 0.16× | 33.92× |
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 | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $42.2M | $260.3M |
| 自由现金流率自由现金流/营收 | 5.0% | 31.9% |
| 资本支出强度资本支出/营收 | 15.8% | 0.4% |
| 现金转化率经营现金流/净利润 | 1.24× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $153.7M | $699.5M |
8季度趋势，按日历期对齐
经营现金流MATXUI
| Q4 25 | $176.9M | $263.9M | ||
| Q3 25 | $175.6M | $198.5M | ||
| Q2 25 | $105.6M | $130.4M | ||
| Q1 25 | $89.0M | $123.6M | ||
| Q4 24 | $174.7M | $152.4M | ||
| Q3 24 | $248.6M | $233.7M | ||
| Q2 24 | $307.9M | $231.4M | ||
| Q1 24 | $36.6M | $163.9M |
自由现金流MATXUI
| Q4 25 | $42.2M | $260.3M | ||
| Q3 25 | $92.4M | $193.3M | ||
| Q2 25 | $19.3M | $125.2M | ||
| Q1 25 | $-200.0K | $120.7M | ||
| Q4 24 | $49.3M | $150.4M | ||
| Q3 24 | $189.0M | $231.1M | ||
| Q2 24 | $238.1M | $229.5M | ||
| Q1 24 | $-18.7M | $160.6M |
自由现金流率MATXUI
| Q4 25 | 5.0% | 31.9% | ||
| Q3 25 | 10.5% | 26.3% | ||
| Q2 25 | 2.3% | 16.5% | ||
| Q1 25 | -0.0% | 18.2% | ||
| Q4 24 | 5.5% | 25.1% | ||
| Q3 24 | 19.6% | 42.0% | ||
| Q2 24 | 28.1% | 45.2% | ||
| Q1 24 | -2.6% | 32.6% |
资本支出强度MATXUI
| Q4 25 | 15.8% | 0.4% | ||
| Q3 25 | 9.5% | 0.7% | ||
| Q2 25 | 10.4% | 0.7% | ||
| Q1 25 | 11.4% | 0.4% | ||
| Q4 24 | 14.1% | 0.3% | ||
| Q3 24 | 6.2% | 0.5% | ||
| Q2 24 | 8.2% | 0.4% | ||
| Q1 24 | 7.7% | 0.7% |
现金转化率MATXUI
| Q4 25 | 1.24× | 1.13× | ||
| Q3 25 | 1.30× | 0.95× | ||
| Q2 25 | 1.12× | 0.49× | ||
| Q1 25 | 1.23× | 0.68× | ||
| Q4 24 | 1.36× | 1.11× | ||
| Q3 24 | 1.25× | 1.83× | ||
| Q2 24 | 2.72× | 2.23× | ||
| Q1 24 | 1.01× | 2.15× |
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% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
