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MALIBU BOATS, INC.（MBUU）与合众银行（STBA）财务数据对比。点击上方公司名可切换其他公司
MALIBU BOATS, INC.的季度营收约是合众银行的1.8倍（$188.6M vs $102.1M），合众银行净利率更高（34.4% vs -1.3%，领先35.7%），过去两年合众银行的营收复合增速更高（2.6% 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。
合众银行是总部位于美国明尼苏达州明尼阿波利斯、注册地为特拉华州的跨国银行机构，截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为系统重要性机构。旗下核心运营主体为美国合众银行全国协会，以“U.S. Bank”品牌开展业务，提供银行、投资、抵押贷款等多元金融服务。
MBUU vs STBA — 直观对比
营收规模更大
MBUU
是对方的1.8倍
$102.1M
净利率更高
STBA
高出35.7%
-1.3%
两年增速更快
STBA
近两年复合增速
-3.7%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $188.6M | $102.1M |
| 净利润 | $-2.5M | $35.1M |
| 毛利率 | 13.3% | — |
| 营业利润率 | -1.9% | — |
| 净利率 | -1.3% | 34.4% |
| 营收同比 | -5.8% | — |
| 净利润同比 | -204.2% | 5.0% |
| 每股收益（稀释后） | $-0.13 | $0.94 |
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MBUUSTBA
| Q1 26 | — | $102.1M | ||
| Q4 25 | $188.6M | $105.3M | ||
| Q3 25 | $194.7M | $103.0M | ||
| Q2 25 | $207.0M | $100.1M | ||
| Q1 25 | $228.7M | $93.8M | ||
| Q4 24 | $200.3M | $94.3M | ||
| Q3 24 | $171.6M | $96.4M | ||
| Q2 24 | $158.7M | $96.9M |
净利润MBUUSTBA
| Q1 26 | — | $35.1M | ||
| Q4 25 | $-2.5M | $34.0M | ||
| Q3 25 | $-702.0K | $35.0M | ||
| Q2 25 | $4.7M | $31.9M | ||
| Q1 25 | $12.9M | $33.4M | ||
| Q4 24 | $2.4M | $33.1M | ||
| Q3 24 | $-5.0M | $32.6M | ||
| Q2 24 | $-19.2M | $34.4M |
毛利率MBUUSTBA
| Q1 26 | — | — | ||
| Q4 25 | 13.3% | — | ||
| Q3 25 | 14.3% | — | ||
| Q2 25 | 15.8% | — | ||
| Q1 25 | 20.0% | — | ||
| Q4 24 | 18.7% | — | ||
| Q3 24 | 16.4% | — | ||
| Q2 24 | 7.9% | — |
营业利润率MBUUSTBA
| Q1 26 | — | — | ||
| Q4 25 | -1.9% | 40.3% | ||
| Q3 25 | -0.4% | 42.6% | ||
| Q2 25 | 3.3% | 40.0% | ||
| Q1 25 | 7.6% | 44.5% | ||
| Q4 24 | 1.6% | 43.8% | ||
| Q3 24 | -3.3% | 43.0% | ||
| Q2 24 | -15.4% | 44.2% |
净利率MBUUSTBA
| Q1 26 | — | 34.4% | ||
| Q4 25 | -1.3% | 32.3% | ||
| Q3 25 | -0.4% | 33.9% | ||
| Q2 25 | 2.3% | 31.9% | ||
| Q1 25 | 5.6% | 35.6% | ||
| Q4 24 | 1.2% | 35.1% | ||
| Q3 24 | -2.9% | 33.8% | ||
| Q2 24 | -12.1% | 35.5% |
每股收益（稀释后）MBUUSTBA
| Q1 26 | — | $0.94 | ||
| Q4 25 | $-0.13 | $0.88 | ||
| Q3 25 | $-0.04 | $0.91 | ||
| Q2 25 | $0.23 | $0.83 | ||
| Q1 25 | $0.66 | $0.87 | ||
| Q4 24 | $0.12 | $0.86 | ||
| Q3 24 | $-0.25 | $0.85 | ||
| Q2 24 | $-0.93 | $0.89 |
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 | $100.8M |
| 股东权益账面价值 | $495.0M | $1.4B |
| 总资产 | $715.7M | $9.9B |
| 负债/权益比越低杠杆越低 | 0.04× | 0.07× |
8季度趋势，按日历期对齐
现金及短期投资MBUUSTBA
| Q1 26 | — | — | ||
| Q4 25 | $28.2M | $163.4M | ||
| Q3 25 | $44.1M | $196.2M | ||
| Q2 25 | $37.0M | $203.1M | ||
| Q1 25 | $38.7M | $211.8M | ||
| Q4 24 | $35.1M | $244.8M | ||
| Q3 24 | $27.7M | $228.1M | ||
| Q2 24 | $26.9M | $246.3M |
总债务MBUUSTBA
| Q1 26 | — | $100.8M | ||
| 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 | — |
股东权益MBUUSTBA
| Q1 26 | — | $1.4B | ||
| Q4 25 | $495.0M | $1.5B | ||
| Q3 25 | $516.4M | $1.5B | ||
| Q2 25 | $515.5M | $1.4B | ||
| Q1 25 | $513.0M | $1.4B | ||
| Q4 24 | $509.8M | $1.4B | ||
| Q3 24 | $517.7M | $1.4B | ||
| Q2 24 | $530.0M | $1.3B |
总资产MBUUSTBA
| Q1 26 | — | $9.9B | ||
| Q4 25 | $715.7M | $9.9B | ||
| Q3 25 | $755.6M | $9.8B | ||
| Q2 25 | $734.6M | $9.8B | ||
| Q1 25 | $758.8M | $9.7B | ||
| Q4 24 | $738.7M | $9.7B | ||
| Q3 24 | $759.1M | $9.6B | ||
| Q2 24 | $739.6M | $9.6B |
负债/权益比MBUUSTBA
| Q1 26 | — | 0.07× | ||
| 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× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $8.2M | — |
| 自由现金流率自由现金流/营收 | 4.4% | — |
| 资本支出强度资本支出/营收 | 2.3% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $33.3M | — |
8季度趋势，按日历期对齐
经营现金流MBUUSTBA
| Q1 26 | — | — | ||
| Q4 25 | $12.6M | $133.6M | ||
| Q3 25 | $6.5M | $40.5M | ||
| Q2 25 | $21.0M | $28.3M | ||
| Q1 25 | $15.5M | $28.7M | ||
| Q4 24 | $28.4M | $173.4M | ||
| Q3 24 | $-8.4M | $27.6M | ||
| Q2 24 | $16.3M | $44.7M |
自由现金流MBUUSTBA
| Q1 26 | — | — | ||
| Q4 25 | $8.2M | $128.8M | ||
| Q3 25 | $2.2M | $39.9M | ||
| Q2 25 | $14.1M | $27.1M | ||
| Q1 25 | $8.8M | $27.0M | ||
| Q4 24 | $22.8M | $170.4M | ||
| Q3 24 | $-17.0M | $26.9M | ||
| Q2 24 | $4.5M | $43.9M |
自由现金流率MBUUSTBA
| Q1 26 | — | — | ||
| Q4 25 | 4.4% | 122.4% | ||
| Q3 25 | 1.1% | 38.7% | ||
| Q2 25 | 6.8% | 27.1% | ||
| Q1 25 | 3.8% | 28.8% | ||
| Q4 24 | 11.4% | 180.7% | ||
| Q3 24 | -9.9% | 28.0% | ||
| Q2 24 | 2.8% | 45.3% |
资本支出强度MBUUSTBA
| Q1 26 | — | — | ||
| Q4 25 | 2.3% | 4.5% | ||
| Q3 25 | 2.2% | 0.6% | ||
| Q2 25 | 3.4% | 1.2% | ||
| Q1 25 | 2.9% | 1.8% | ||
| Q4 24 | 2.8% | 3.1% | ||
| Q3 24 | 5.0% | 0.7% | ||
| Q2 24 | 7.5% | 0.9% |
现金转化率MBUUSTBA
| Q1 26 | — | — | ||
| Q4 25 | — | 3.93× | ||
| Q3 25 | — | 1.16× | ||
| Q2 25 | 4.50× | 0.89× | ||
| Q1 25 | 1.20× | 0.86× | ||
| Q4 24 | 12.02× | 5.24× | ||
| Q3 24 | — | 0.85× | ||
| Q2 24 | — | 1.30× |
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% |
STBA
| Net Interest Income | $88.4M | 87% |
| Noninterest Income | $13.6M | 13% |
