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MALIBU BOATS, INC.（MBUU）与MARINE PRODUCTS CORP（MPX）财务数据对比。点击上方公司名可切换其他公司
MALIBU BOATS, INC.的季度营收约是MARINE PRODUCTS CORP的2.9倍（$188.6M vs $64.6M）。MARINE PRODUCTS CORP净利率更高（3.7% vs -1.3%，领先5.0%）。MARINE PRODUCTS CORP同比增速更快（35.0% vs -5.8%）。MALIBU BOATS, INC.自由现金流更多（$8.2M vs $4.1M）。过去两年MARINE PRODUCTS CORP的营收复合增速更高（-3.5% vs -3.7%）
马里布游艇是美国休闲游艇制造商，1982年创立于加利福尼亚州默塞德，现总部位于田纳西州洛登，在澳大利亚新南威尔士州也设有生产基地。它是全球最大的水上运动拖船制造商，产品可供休闲使用，也应用于滑水、尾波滑板等各类赛事活动。
Marine Products Corp旗下的West Marine是一家总部位于美国佛罗里达州劳德代尔堡的企业，在北美地区经营247家船艇用品及渔具零售连锁店，同时运营名为蓝色未来的非营利组织，品牌旗舰店面积超5万平方英尺，于2011年11月11日在劳德代尔堡正式开业。
MBUU vs MPX — 直观对比
营收规模更大
MBUU
是对方的2.9倍
$64.6M
营收增速更快
MPX
高出40.9%
-5.8%
净利率更高
MPX
高出5.0%
-1.3%
自由现金流更多
MBUU
多$4.1M
$4.1M
两年增速更快
MPX
近两年复合增速
-3.7%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $188.6M | $64.6M |
| 净利润 | $-2.5M | $2.4M |
| 毛利率 | 13.3% | 19.6% |
| 营业利润率 | -1.9% | 5.8% |
| 净利率 | -1.3% | 3.7% |
| 营收同比 | -5.8% | 35.0% |
| 净利润同比 | -204.2% | -44.6% |
| 每股收益（稀释后） | $-0.13 | $0.07 |
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MBUUMPX
| Q4 25 | $188.6M | $64.6M | ||
| Q3 25 | $194.7M | $53.1M | ||
| Q2 25 | $207.0M | $67.7M | ||
| Q1 25 | $228.7M | $59.0M | ||
| Q4 24 | $200.3M | $47.8M | ||
| Q3 24 | $171.6M | $49.9M | ||
| Q2 24 | $158.7M | $69.5M | ||
| Q1 24 | $203.4M | $69.3M |
净利润MBUUMPX
| Q4 25 | $-2.5M | $2.4M | ||
| Q3 25 | $-702.0K | $2.6M | ||
| Q2 25 | $4.7M | $4.2M | ||
| Q1 25 | $12.9M | $2.2M | ||
| Q4 24 | $2.4M | $4.3M | ||
| Q3 24 | $-5.0M | $3.4M | ||
| Q2 24 | $-19.2M | $5.6M | ||
| Q1 24 | $-66.8M | $4.6M |
毛利率MBUUMPX
| Q4 25 | 13.3% | 19.6% | ||
| Q3 25 | 14.3% | 19.2% | ||
| Q2 25 | 15.8% | 19.1% | ||
| Q1 25 | 20.0% | 18.6% | ||
| Q4 24 | 18.7% | 19.2% | ||
| Q3 24 | 16.4% | 18.4% | ||
| Q2 24 | 7.9% | 18.9% | ||
| Q1 24 | 19.8% | 20.2% |
营业利润率MBUUMPX
| Q4 25 | -1.9% | 5.8% | ||
| Q3 25 | -0.4% | 5.4% | ||
| Q2 25 | 3.3% | 7.1% | ||
| Q1 25 | 7.6% | 4.4% | ||
| Q4 24 | 1.6% | 7.7% | ||
| Q3 24 | -3.3% | 7.2% | ||
| Q2 24 | -15.4% | 8.3% | ||
| Q1 24 | -36.8% | 7.6% |
净利率MBUUMPX
| Q4 25 | -1.3% | 3.7% | ||
| Q3 25 | -0.4% | 5.0% | ||
| Q2 25 | 2.3% | 6.1% | ||
| Q1 25 | 5.6% | 3.7% | ||
| Q4 24 | 1.2% | 8.9% | ||
| Q3 24 | -2.9% | 6.8% | ||
| Q2 24 | -12.1% | 8.0% | ||
| Q1 24 | -32.9% | 6.6% |
每股收益（稀释后）MBUUMPX
| Q4 25 | $-0.13 | $0.07 | ||
| Q3 25 | $-0.04 | $0.07 | ||
| Q2 25 | $0.23 | $0.12 | ||
| Q1 25 | $0.66 | $0.06 | ||
| Q4 24 | $0.12 | $0.13 | ||
| Q3 24 | $-0.25 | $0.10 | ||
| Q2 24 | $-0.93 | $0.14 | ||
| Q1 24 | $-3.28 | $0.13 |
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 | $28.2M | — |
| 总债务越低越好 | $20.0M | — |
| 股东权益账面价值 | $495.0M | $125.0M |
| 总资产 | $715.7M | $147.2M |
| 负债/权益比越低杠杆越低 | 0.04× | — |
8季度趋势，按日历期对齐
现金及短期投资MBUUMPX
| Q4 25 | $28.2M | — | ||
| Q3 25 | $44.1M | — | ||
| Q2 25 | $37.0M | — | ||
| Q1 25 | $38.7M | — | ||
| Q4 24 | $35.1M | — | ||
| Q3 24 | $27.7M | — | ||
| Q2 24 | $26.9M | — | ||
| Q1 24 | $47.1M | — |
总债务MBUUMPX
| Q4 25 | $20.0M | — | ||
| Q3 25 | $23.0M | — | ||
| Q2 25 | $18.0M | — | ||
| Q1 25 | $28.0M | — | ||
| Q4 24 | $23.0M | — | ||
| Q3 24 | $28.0M | — | ||
| Q2 24 | $0 | — | ||
| Q1 24 | $15.0M | — |
股东权益MBUUMPX
| Q4 25 | $495.0M | $125.0M | ||
| Q3 25 | $516.4M | $126.3M | ||
| Q2 25 | $515.5M | $127.2M | ||
| Q1 25 | $513.0M | $126.4M | ||
| Q4 24 | $509.8M | $129.0M | ||
| Q3 24 | $517.7M | $128.8M | ||
| Q2 24 | $530.0M | $129.3M | ||
| Q1 24 | $557.2M | $151.4M |
总资产MBUUMPX
| Q4 25 | $715.7M | $147.2M | ||
| Q3 25 | $755.6M | $179.5M | ||
| Q2 25 | $734.6M | $173.2M | ||
| Q1 25 | $758.8M | $182.9M | ||
| Q4 24 | $738.7M | $171.2M | ||
| Q3 24 | $759.1M | $176.3M | ||
| Q2 24 | $739.6M | $175.7M | ||
| Q1 24 | $797.6M | $204.0M |
负债/权益比MBUUMPX
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.03× | — | ||
| Q1 25 | 0.05× | — | ||
| Q4 24 | 0.05× | — | ||
| Q3 24 | 0.05× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 0.03× | — |
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 | $12.6M | $4.7M |
| 自由现金流经营现金流 - 资本支出 | $8.2M | $4.1M |
| 自由现金流率自由现金流/营收 | 4.4% | 6.4% |
| 资本支出强度资本支出/营收 | 2.3% | 0.9% |
| 现金转化率经营现金流/净利润 | — | 2.00× |
| 过去12个月自由现金流最近4个季度 | $33.3M | $14.9M |
8季度趋势，按日历期对齐
经营现金流MBUUMPX
| Q4 25 | $12.6M | $4.7M | ||
| Q3 25 | $6.5M | $2.6M | ||
| Q2 25 | $21.0M | $-1.6M | ||
| Q1 25 | $15.5M | $10.8M | ||
| Q4 24 | $28.4M | $4.6M | ||
| Q3 24 | $-8.4M | $5.1M | ||
| Q2 24 | $16.3M | $3.8M | ||
| Q1 24 | $23.5M | $15.9M |
自由现金流MBUUMPX
| Q4 25 | $8.2M | $4.1M | ||
| Q3 25 | $2.2M | $2.1M | ||
| Q2 25 | $14.1M | $-2.0M | ||
| Q1 25 | $8.8M | $10.7M | ||
| Q4 24 | $22.8M | $3.6M | ||
| Q3 24 | $-17.0M | $3.2M | ||
| Q2 24 | $4.5M | $3.0M | ||
| Q1 24 | $11.5M | $15.0M |
自由现金流率MBUUMPX
| Q4 25 | 4.4% | 6.4% | ||
| Q3 25 | 1.1% | 4.0% | ||
| Q2 25 | 6.8% | -3.0% | ||
| Q1 25 | 3.8% | 18.1% | ||
| Q4 24 | 11.4% | 7.6% | ||
| Q3 24 | -9.9% | 6.5% | ||
| Q2 24 | 2.8% | 4.4% | ||
| Q1 24 | 5.7% | 21.7% |
资本支出强度MBUUMPX
| Q4 25 | 2.3% | 0.9% | ||
| Q3 25 | 2.2% | 0.8% | ||
| Q2 25 | 3.4% | 0.6% | ||
| Q1 25 | 2.9% | 0.2% | ||
| Q4 24 | 2.8% | 2.1% | ||
| Q3 24 | 5.0% | 3.8% | ||
| Q2 24 | 7.5% | 1.1% | ||
| Q1 24 | 5.9% | 1.3% |
现金转化率MBUUMPX
| Q4 25 | — | 2.00× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | 4.50× | -0.39× | ||
| Q1 25 | 1.20× | 4.88× | ||
| Q4 24 | 12.02× | 1.09× | ||
| Q3 24 | — | 1.51× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | — | 3.46× |
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
MBUU
| Boatand Trailer Sales | $68.1M | 36% |
| Saltwater Fishing | $65.3M | 35% |
| Cobalt | $52.6M | 28% |
| Part And Other Sales | $2.6M | 1% |
MPX
| Boats And Accessories | $63.4M | 98% |
| Parts | $1.1M | 2% |
