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MDU RESOURCES GROUP INC（MDU）与Martin Marietta Materials（MLM）财务数据对比。点击上方公司名可切换其他公司
Martin Marietta Materials的季度营收约是MDU RESOURCES GROUP INC的2.2倍（$1.1B vs $522.6M）。Martin Marietta Materials净利率更高（24.5% vs 14.6%，领先9.9%）。MDU RESOURCES GROUP INC同比增速更快（-1.6% vs -30.1%）。Martin Marietta Materials自由现金流更多（$424.0M vs $-336.0M）。过去两年Martin Marietta Materials的营收复合增速更高（-4.5% vs -5.7%）
MDU资源集团是一家总部位于美国北达科他州俾斯麦的企业，业务涵盖受监管的能源输送供应，以及公用事业相关的建筑材料与服务，业务范围覆盖美国48个州，是当地能源及基建服务领域的重要参与者。
马丁·玛丽埃塔材料公司是美国大型集料及重型建筑材料供应商，业务覆盖美国26个州、加拿大及加勒比地区，主要为道路、人行道、地基等各类基建项目提供所需原材料。
MDU vs MLM — 直观对比
营收规模更大
MLM
是对方的2.2倍
$522.6M
营收增速更快
MDU
高出28.6%
-30.1%
净利率更高
MLM
高出9.9%
14.6%
自由现金流更多
MLM
多$760.0M
$-336.0M
两年增速更快
MLM
近两年复合增速
-5.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $522.6M | $1.1B |
| 净利润 | $76.3M | $279.0M |
| 毛利率 | — | 35.0% |
| 营业利润率 | 20.5% | 24.6% |
| 净利率 | 14.6% | 24.5% |
| 营收同比 | -1.6% | -30.1% |
| 净利润同比 | 38.4% | -4.8% |
| 每股收益（稀释后） | $0.37 | $4.59 |
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MDUMLM
| Q4 25 | $522.6M | $1.1B | ||
| Q3 25 | $313.6M | $1.8B | ||
| Q2 25 | $348.7M | $1.8B | ||
| Q1 25 | $678.0M | $1.4B | ||
| Q4 24 | $531.0M | $1.6B | ||
| Q3 24 | $290.7M | $1.9B | ||
| Q2 24 | $343.1M | $1.8B | ||
| Q1 24 | $588.2M | $1.3B |
净利润MDUMLM
| Q4 25 | $76.3M | $279.0M | ||
| Q3 25 | $18.3M | $414.0M | ||
| Q2 25 | $13.8M | $328.0M | ||
| Q1 25 | $82.0M | $116.0M | ||
| Q4 24 | $55.2M | $293.0M | ||
| Q3 24 | $64.6M | $363.0M | ||
| Q2 24 | $60.4M | $294.0M | ||
| Q1 24 | $100.9M | $1.0B |
毛利率MDUMLM
| Q4 25 | — | 35.0% | ||
| Q3 25 | — | 33.1% | ||
| Q2 25 | — | 30.0% | ||
| Q1 25 | — | 24.8% | ||
| Q4 24 | — | 30.0% | ||
| Q3 24 | — | 31.7% | ||
| Q2 24 | — | 29.3% | ||
| Q1 24 | — | 21.7% |
营业利润率MDUMLM
| Q4 25 | 20.5% | 24.6% | ||
| Q3 25 | 12.7% | 27.4% | ||
| Q2 25 | 8.7% | 25.3% | ||
| Q1 25 | 16.6% | 14.3% | ||
| Q4 24 | 17.8% | 24.4% | ||
| Q3 24 | 12.0% | 25.9% | ||
| Q2 24 | 11.5% | 22.6% | ||
| Q1 24 | 16.4% | — |
净利率MDUMLM
| Q4 25 | 14.6% | 24.5% | ||
| Q3 25 | 5.8% | 22.4% | ||
| Q2 25 | 4.0% | 18.1% | ||
| Q1 25 | 12.1% | 8.6% | ||
| Q4 24 | 10.4% | 18.0% | ||
| Q3 24 | 22.2% | 19.2% | ||
| Q2 24 | 17.6% | 16.7% | ||
| Q1 24 | 17.2% | 83.5% |
每股收益（稀释后）MDUMLM
| Q4 25 | $0.37 | $4.59 | ||
| Q3 25 | $0.09 | $6.85 | ||
| Q2 25 | $0.07 | $5.43 | ||
| Q1 25 | $0.40 | $1.90 | ||
| Q4 24 | $0.26 | $4.87 | ||
| Q3 24 | $0.32 | $5.91 | ||
| Q2 24 | $0.30 | $4.76 | ||
| Q1 24 | $0.49 | $16.87 |
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 | $67.0M |
| 总债务越低越好 | $2.7B | $5.3B |
| 股东权益账面价值 | $2.8B | $10.0B |
| 总资产 | $7.6B | $18.7B |
| 负债/权益比越低杠杆越低 | 0.97× | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资MDUMLM
| Q4 25 | $28.2M | $67.0M | ||
| Q3 25 | $75.9M | $57.0M | ||
| Q2 25 | $58.8M | $225.0M | ||
| Q1 25 | $59.5M | $101.0M | ||
| Q4 24 | $66.9M | $670.0M | ||
| Q3 24 | $88.3M | $52.0M | ||
| Q2 24 | $78.8M | $109.0M | ||
| Q1 24 | $72.7M | $2.6B |
总债务MDUMLM
| Q4 25 | $2.7B | $5.3B | ||
| Q3 25 | $2.4B | $5.5B | ||
| Q2 25 | $2.2B | $5.4B | ||
| Q1 25 | $2.2B | $5.4B | ||
| Q4 24 | $2.3B | $5.4B | ||
| Q3 24 | $2.3B | $4.0B | ||
| Q2 24 | $2.3B | $4.3B | ||
| Q1 24 | $2.3B | $4.3B |
股东权益MDUMLM
| Q4 25 | $2.8B | $10.0B | ||
| Q3 25 | $2.7B | $9.7B | ||
| Q2 25 | $2.7B | $9.4B | ||
| Q1 25 | $2.7B | $9.1B | ||
| Q4 24 | $2.7B | $9.5B | ||
| Q3 24 | $3.1B | $9.2B | ||
| Q2 24 | $3.0B | $8.8B | ||
| Q1 24 | $3.0B | $8.9B |
总资产MDUMLM
| Q4 25 | $7.6B | $18.7B | ||
| Q3 25 | $7.2B | $18.7B | ||
| Q2 25 | $6.9B | $18.1B | ||
| Q1 25 | $7.0B | $17.7B | ||
| Q4 24 | $7.0B | $18.2B | ||
| Q3 24 | $8.2B | $16.5B | ||
| Q2 24 | $8.0B | $16.3B | ||
| Q1 24 | $7.8B | $16.2B |
负债/权益比MDUMLM
| Q4 25 | 0.97× | 0.53× | ||
| Q3 25 | 0.86× | 0.57× | ||
| Q2 25 | 0.80× | 0.58× | ||
| Q1 25 | 0.80× | 0.60× | ||
| Q4 24 | 0.85× | 0.57× | ||
| Q3 24 | 0.76× | 0.44× | ||
| Q2 24 | 0.75× | 0.49× | ||
| Q1 24 | 0.76× | 0.49× |
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 | $80.6M | $629.0M |
| 自由现金流经营现金流 - 资本支出 | $-336.0M | $424.0M |
| 自由现金流率自由现金流/营收 | -64.3% | 37.2% |
| 资本支出强度资本支出/营收 | 79.7% | 18.0% |
| 现金转化率经营现金流/净利润 | 1.06× | 2.25× |
| 过去12个月自由现金流最近4个季度 | $-297.0M | $978.0M |
8季度趋势，按日历期对齐
经营现金流MDUMLM
| Q4 25 | $80.6M | $629.0M | ||
| Q3 25 | $57.9M | $551.0M | ||
| Q2 25 | $117.4M | $387.0M | ||
| Q1 25 | $217.5M | $218.0M | ||
| Q4 24 | $60.5M | $686.0M | ||
| Q3 24 | $140.2M | $600.0M | ||
| Q2 24 | $136.5M | $1.0M | ||
| Q1 24 | $165.1M | $172.0M |
自由现金流MDUMLM
| Q4 25 | $-336.0M | $424.0M | ||
| Q3 25 | $-121.9M | $361.0M | ||
| Q2 25 | $36.5M | $208.0M | ||
| Q1 25 | $124.4M | $-15.0M | ||
| Q4 24 | $-95.8M | $453.0M | ||
| Q3 24 | $673.0K | $317.0M | ||
| Q2 24 | $26.5M | $-138.0M | ||
| Q1 24 | $48.1M | $-28.0M |
自由现金流率MDUMLM
| Q4 25 | -64.3% | 37.2% | ||
| Q3 25 | -38.9% | 19.6% | ||
| Q2 25 | 10.5% | 11.5% | ||
| Q1 25 | 18.4% | -1.1% | ||
| Q4 24 | -18.0% | 27.8% | ||
| Q3 24 | 0.2% | 16.8% | ||
| Q2 24 | 7.7% | -7.8% | ||
| Q1 24 | 8.2% | -2.2% |
资本支出强度MDUMLM
| Q4 25 | 79.7% | 18.0% | ||
| Q3 25 | 57.3% | 10.3% | ||
| Q2 25 | 23.2% | 9.9% | ||
| Q1 25 | 13.7% | 17.2% | ||
| Q4 24 | 29.4% | 14.3% | ||
| Q3 24 | 48.0% | 15.0% | ||
| Q2 24 | 32.0% | 7.9% | ||
| Q1 24 | 19.9% | 16.0% |
现金转化率MDUMLM
| Q4 25 | 1.06× | 2.25× | ||
| Q3 25 | 3.16× | 1.33× | ||
| Q2 25 | 8.52× | 1.18× | ||
| Q1 25 | 2.65× | 1.88× | ||
| Q4 24 | 1.10× | 2.34× | ||
| Q3 24 | 2.17× | 1.65× | ||
| Q2 24 | 2.26× | 0.00× | ||
| Q1 24 | 1.64× | 0.16× |
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
MDU
| Natural Gas Distribution | $382.8M | 73% |
| Commercial Utility Sales | $42.7M | 8% |
| Residential Utility Sales | $33.7M | 6% |
| Pipelineand Midstream | $31.1M | 6% |
| Natural Gas Transportation | $17.2M | 3% |
| Industrial Utility Sales | $10.1M | 2% |
| Natural Gas Storage | $6.4M | 1% |
| Other Utility Sales | $1.9M | 0% |
MLM
| Building Materials Business East Group | $774.0M | 68% |
| Building Materials Business West Group | $233.0M | 20% |
| Services | $88.0M | 8% |
| Other | $45.0M | 4% |
