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美森（MATX）与West Pharmaceutical Services（WST）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West Pharmaceutical Services的1.1倍（$851.9M vs $805.0M），美森净利率更高（16.8% vs 16.4%，领先0.4%），West Pharmaceutical Services同比增速更快（7.5% vs -4.3%），West Pharmaceutical Services自由现金流更多（$175.0M vs $42.2M），过去两年美森的营收复合增速更高（8.6% vs 7.6%）
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。
美国West Pharmaceutical Services是注射用药品包装及给药系统的设计和制造商，1923年成立，总部位于宾夕法尼亚州埃克斯顿。成立初期主营注射类药物包装用橡胶组件，曾为青霉素和胰岛素生产商提供符合无菌要求的配套产品。
MATX vs WST — 直观对比
营收规模更大
MATX
是对方的1.1倍
$805.0M
营收增速更快
WST
高出11.8%
-4.3%
净利率更高
MATX
高出0.4%
16.4%
自由现金流更多
WST
多$132.8M
$42.2M
两年增速更快
MATX
近两年复合增速
7.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $851.9M | $805.0M |
| 净利润 | $143.1M | $132.1M |
| 毛利率 | — | 37.8% |
| 营业利润率 | 16.9% | 19.5% |
| 净利率 | 16.8% | 16.4% |
| 营收同比 | -4.3% | 7.5% |
| 净利润同比 | 11.8% | 1.5% |
| 每股收益（稀释后） | $4.47 | $1.82 |
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MATXWST
| Q4 25 | $851.9M | $805.0M | ||
| Q3 25 | $880.1M | $804.6M | ||
| Q2 25 | $830.5M | $766.5M | ||
| Q1 25 | $782.0M | $698.0M | ||
| Q4 24 | $890.3M | $748.8M | ||
| Q3 24 | $962.0M | $746.9M | ||
| Q2 24 | $847.4M | $702.1M | ||
| Q1 24 | $722.1M | $695.4M |
净利润MATXWST
| Q4 25 | $143.1M | $132.1M | ||
| Q3 25 | $134.7M | $140.0M | ||
| Q2 25 | $94.7M | $131.8M | ||
| Q1 25 | $72.3M | $89.8M | ||
| Q4 24 | $128.0M | $130.1M | ||
| Q3 24 | $199.1M | $136.0M | ||
| Q2 24 | $113.2M | $111.3M | ||
| Q1 24 | $36.1M | $115.3M |
毛利率MATXWST
| Q4 25 | — | 37.8% | ||
| Q3 25 | — | 36.6% | ||
| Q2 25 | — | 35.7% | ||
| Q1 25 | — | 33.2% | ||
| Q4 24 | — | 36.5% | ||
| Q3 24 | — | 35.4% | ||
| Q2 24 | — | 32.8% | ||
| Q1 24 | — | 33.1% |
营业利润率MATXWST
| Q4 25 | 16.9% | 19.5% | ||
| Q3 25 | 18.3% | 20.8% | ||
| Q2 25 | 13.6% | 20.1% | ||
| Q1 25 | 10.5% | 15.3% | ||
| Q4 24 | 16.6% | 21.3% | ||
| Q3 24 | 25.2% | 21.6% | ||
| Q2 24 | 14.7% | 18.0% | ||
| Q1 24 | 5.1% | 17.7% |
净利率MATXWST
| Q4 25 | 16.8% | 16.4% | ||
| Q3 25 | 15.3% | 17.4% | ||
| Q2 25 | 11.4% | 17.2% | ||
| Q1 25 | 9.2% | 12.9% | ||
| Q4 24 | 14.4% | 17.4% | ||
| Q3 24 | 20.7% | 18.2% | ||
| Q2 24 | 13.4% | 15.9% | ||
| Q1 24 | 5.0% | 16.6% |
每股收益（稀释后）MATXWST
| Q4 25 | $4.47 | $1.82 | ||
| Q3 25 | $4.24 | $1.92 | ||
| Q2 25 | $2.92 | $1.82 | ||
| Q1 25 | $2.18 | $1.23 | ||
| Q4 24 | $3.69 | $1.78 | ||
| Q3 24 | $5.89 | $1.85 | ||
| Q2 24 | $3.31 | $1.51 | ||
| Q1 24 | $1.04 | $1.55 |
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 | $791.3M |
| 总债务越低越好 | $361.2M | $202.8M |
| 股东权益账面价值 | $2.8B | $3.2B |
| 总资产 | $4.6B | $4.3B |
| 负债/权益比越低杠杆越低 | 0.13× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资MATXWST
| Q4 25 | $141.9M | $791.3M | ||
| Q3 25 | $92.7M | $628.5M | ||
| Q2 25 | $59.1M | $509.7M | ||
| Q1 25 | $122.0M | $404.2M | ||
| Q4 24 | $266.8M | $484.6M | ||
| Q3 24 | $270.3M | $490.9M | ||
| Q2 24 | $168.2M | $446.2M | ||
| Q1 24 | $25.9M | $601.8M |
总债务MATXWST
| Q4 25 | $361.2M | $202.8M | ||
| Q3 25 | $370.9M | $202.7M | ||
| Q2 25 | $341.3M | $202.6M | ||
| Q1 25 | $351.1M | $202.6M | ||
| Q4 24 | $361.2M | $202.6M | ||
| Q3 24 | $370.9M | $202.6M | ||
| Q2 24 | $381.0M | $205.8M | ||
| Q1 24 | $390.8M | $206.2M |
股东权益MATXWST
| Q4 25 | $2.8B | $3.2B | ||
| Q3 25 | $2.7B | $3.1B | ||
| Q2 25 | $2.6B | $2.9B | ||
| Q1 25 | $2.6B | $2.7B | ||
| Q4 24 | $2.7B | $2.7B | ||
| Q3 24 | $2.6B | $2.8B | ||
| Q2 24 | $2.4B | $2.6B | ||
| Q1 24 | $2.4B | $2.7B |
总资产MATXWST
| Q4 25 | $4.6B | $4.3B | ||
| Q3 25 | $4.6B | $4.1B | ||
| Q2 25 | $4.5B | $4.0B | ||
| Q1 25 | $4.5B | $3.6B | ||
| Q4 24 | $4.6B | $3.6B | ||
| Q3 24 | $4.4B | $3.7B | ||
| Q2 24 | $4.3B | $3.5B | ||
| Q1 24 | $4.2B | $3.6B |
负债/权益比MATXWST
| Q4 25 | 0.13× | 0.06× | ||
| Q3 25 | 0.14× | 0.07× | ||
| Q2 25 | 0.13× | 0.07× | ||
| Q1 25 | 0.13× | 0.08× | ||
| Q4 24 | 0.14× | 0.08× | ||
| Q3 24 | 0.15× | 0.07× | ||
| Q2 24 | 0.16× | 0.08× | ||
| Q1 24 | 0.16× | 0.08× |
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 | $251.1M |
| 自由现金流经营现金流 - 资本支出 | $42.2M | $175.0M |
| 自由现金流率自由现金流/营收 | 5.0% | 21.7% |
| 资本支出强度资本支出/营收 | 15.8% | 9.5% |
| 现金转化率经营现金流/净利润 | 1.24× | 1.90× |
| 过去12个月自由现金流最近4个季度 | $153.7M | $468.9M |
8季度趋势，按日历期对齐
经营现金流MATXWST
| Q4 25 | $176.9M | $251.1M | ||
| Q3 25 | $175.6M | $197.2M | ||
| Q2 25 | $105.6M | $177.1M | ||
| Q1 25 | $89.0M | $129.4M | ||
| Q4 24 | $174.7M | $190.1M | ||
| Q3 24 | $248.6M | $180.1M | ||
| Q2 24 | $307.9M | $165.0M | ||
| Q1 24 | $36.6M | $118.2M |
自由现金流MATXWST
| Q4 25 | $42.2M | $175.0M | ||
| Q3 25 | $92.4M | $133.9M | ||
| Q2 25 | $19.3M | $101.9M | ||
| Q1 25 | $-200.0K | $58.1M | ||
| Q4 24 | $49.3M | $85.2M | ||
| Q3 24 | $189.0M | $98.8M | ||
| Q2 24 | $238.1M | $64.8M | ||
| Q1 24 | $-18.7M | $27.6M |
自由现金流率MATXWST
| Q4 25 | 5.0% | 21.7% | ||
| Q3 25 | 10.5% | 16.6% | ||
| Q2 25 | 2.3% | 13.3% | ||
| Q1 25 | -0.0% | 8.3% | ||
| Q4 24 | 5.5% | 11.4% | ||
| Q3 24 | 19.6% | 13.2% | ||
| Q2 24 | 28.1% | 9.2% | ||
| Q1 24 | -2.6% | 4.0% |
资本支出强度MATXWST
| Q4 25 | 15.8% | 9.5% | ||
| Q3 25 | 9.5% | 7.9% | ||
| Q2 25 | 10.4% | 9.8% | ||
| Q1 25 | 11.4% | 10.2% | ||
| Q4 24 | 14.1% | 14.0% | ||
| Q3 24 | 6.2% | 10.9% | ||
| Q2 24 | 8.2% | 14.3% | ||
| Q1 24 | 7.7% | 13.0% |
现金转化率MATXWST
| Q4 25 | 1.24× | 1.90× | ||
| Q3 25 | 1.30× | 1.41× | ||
| Q2 25 | 1.12× | 1.34× | ||
| Q1 25 | 1.23× | 1.44× | ||
| Q4 24 | 1.36× | 1.46× | ||
| Q3 24 | 1.25× | 1.32× | ||
| Q2 24 | 2.72× | 1.48× | ||
| Q1 24 | 1.01× | 1.03× |
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% |
WST
| Proprietary Products | $661.8M | 82% |
| Contract Manufactured Products | $143.2M | 18% |
| Affiliated Entity | $3.3M | 0% |
