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麦格劳希尔（MH）与学乐集团（SCHL）财务数据对比。点击上方公司名可切换其他公司
学乐集团的季度营收约是麦格劳希尔的1.3倍（$551.1M vs $434.2M），学乐集团净利率更高（10.1% vs -4.7%，领先14.8%），学乐集团同比增速更快（1.2% vs -35.1%）
麦格劳希尔是美国知名教育科技企业，面向K12、高等教育及职业领域的师生提供多元教育内容、软件与服务。核心产品包含教材、数字学习工具及自适应技术，助力优化学习体验、提升学习效果，是与霍顿米夫林哈考特、培生教育齐名的全球三大教育出版商之一。
学乐集团是美国跨国出版教育传媒企业，面向学校、教师、家长、儿童及各类教育机构出版发行图书、漫画与各类教育素材。产品通过零售、线上渠道销售，同时还通过校园阅读俱乐部与书展进入校园，大红狗克利福德是集团的官方吉祥物。
MH vs SCHL — 直观对比
营收规模更大
SCHL
是对方的1.3倍
$434.2M
营收增速更快
SCHL
高出36.3%
-35.1%
净利率更高
SCHL
高出14.8%
-4.7%
损益表 — Q3 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $434.2M | $551.1M |
| 净利润 | $-20.2M | $55.9M |
| 毛利率 | 85.3% | 59.1% |
| 营业利润率 | 7.0% | 15.0% |
| 净利率 | -4.7% | 10.1% |
| 营收同比 | -35.1% | 1.2% |
| 净利润同比 | -119.2% | 14.5% |
| 每股收益（稀释后） | $-0.11 | $2.17 |
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MHSCHL
| Q4 25 | $434.2M | $551.1M | ||
| Q3 25 | $669.2M | $225.6M | ||
| Q2 25 | $535.7M | $508.3M | ||
| Q1 25 | — | $335.4M | ||
| Q4 24 | — | $544.6M | ||
| Q3 24 | — | $237.2M | ||
| Q2 24 | — | $474.9M | ||
| Q1 24 | — | $323.7M |
净利润MHSCHL
| Q4 25 | $-20.2M | $55.9M | ||
| Q3 25 | $105.3M | $-71.1M | ||
| Q2 25 | $502.0K | $15.4M | ||
| Q1 25 | — | $-3.6M | ||
| Q4 24 | — | $48.8M | ||
| Q3 24 | — | $-62.5M | ||
| Q2 24 | — | $35.9M | ||
| Q1 24 | — | $-26.5M |
毛利率MHSCHL
| Q4 25 | 85.3% | 59.1% | ||
| Q3 25 | 79.2% | 45.3% | ||
| Q2 25 | 77.0% | 59.2% | ||
| Q1 25 | — | 53.9% | ||
| Q4 24 | — | 58.0% | ||
| Q3 24 | — | 45.9% | ||
| Q2 24 | — | 59.5% | ||
| Q1 24 | — | 54.1% |
营业利润率MHSCHL
| Q4 25 | 7.0% | 15.0% | ||
| Q3 25 | 23.4% | -40.9% | ||
| Q2 25 | 18.0% | 10.5% | ||
| Q1 25 | — | -7.1% | ||
| Q4 24 | — | 13.7% | ||
| Q3 24 | — | -37.3% | ||
| Q2 24 | — | 9.9% | ||
| Q1 24 | — | -10.8% |
净利率MHSCHL
| Q4 25 | -4.7% | 10.1% | ||
| Q3 25 | 15.7% | -31.5% | ||
| Q2 25 | 0.1% | 3.0% | ||
| Q1 25 | — | -1.1% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | — | -26.3% | ||
| Q2 24 | — | 7.6% | ||
| Q1 24 | — | -8.2% |
每股收益（稀释后）MHSCHL
| Q4 25 | $-0.11 | $2.17 | ||
| Q3 25 | $0.57 | $-2.83 | ||
| Q2 25 | $0.00 | $0.56 | ||
| Q1 25 | — | $-0.13 | ||
| Q4 24 | — | $1.71 | ||
| Q3 24 | — | $-2.21 | ||
| Q2 24 | — | $1.21 | ||
| Q1 24 | — | $-0.91 |
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 | $514.4M | $99.3M |
| 总债务越低越好 | $2.6B | — |
| 股东权益账面价值 | $775.3M | $931.2M |
| 总资产 | $5.6B | $2.0B |
| 负债/权益比越低杠杆越低 | 3.36× | — |
8季度趋势，按日历期对齐
现金及短期投资MHSCHL
| Q4 25 | $514.4M | $99.3M | ||
| Q3 25 | $463.2M | $94.3M | ||
| Q2 25 | $247.3M | $124.0M | ||
| Q1 25 | — | $94.7M | ||
| Q4 24 | — | $139.6M | ||
| Q3 24 | — | $84.1M | ||
| Q2 24 | — | $113.7M | ||
| Q1 24 | — | $110.4M |
总债务MHSCHL
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $231.1M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益MHSCHL
| Q4 25 | $775.3M | $931.2M | ||
| Q3 25 | $794.6M | $878.0M | ||
| Q2 25 | $283.3M | $946.5M | ||
| Q1 25 | — | $941.3M | ||
| Q4 24 | — | $986.0M | ||
| Q3 24 | — | $957.3M | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $997.6M |
总资产MHSCHL
| Q4 25 | $5.6B | $2.0B | ||
| Q3 25 | $6.0B | $2.0B | ||
| Q2 25 | $5.7B | $2.0B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.7B |
负债/权益比MHSCHL
| Q4 25 | 3.36× | — | ||
| Q3 25 | 3.52× | — | ||
| Q2 25 | 11.17× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.24× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $309.0M | $73.2M |
| 自由现金流经营现金流 - 资本支出 | $285.4M | — |
| 自由现金流率自由现金流/营收 | 65.7% | — |
| 资本支出强度资本支出/营收 | 5.4% | — |
| 现金转化率经营现金流/净利润 | — | 1.31× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流MHSCHL
| Q4 25 | $309.0M | $73.2M | ||
| Q3 25 | $265.0M | $-81.8M | ||
| Q2 25 | $-96.7M | $106.9M | ||
| Q1 25 | — | $-12.0M | ||
| Q4 24 | — | $71.2M | ||
| Q3 24 | — | $-41.9M | ||
| Q2 24 | — | $69.9M | ||
| Q1 24 | — | $13.1M |
自由现金流MHSCHL
| Q4 25 | $285.4M | — | ||
| Q3 25 | $243.8M | — | ||
| Q2 25 | $-112.9M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率MHSCHL
| Q4 25 | 65.7% | — | ||
| Q3 25 | 36.4% | — | ||
| Q2 25 | -21.1% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度MHSCHL
| Q4 25 | 5.4% | — | ||
| Q3 25 | 3.2% | — | ||
| Q2 25 | 3.0% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率MHSCHL
| Q4 25 | — | 1.31× | ||
| Q3 25 | 2.52× | — | ||
| Q2 25 | -192.53× | 6.94× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.46× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.95× | ||
| Q1 24 | — | — |
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
MH
| Higher Education | $225.4M | 52% |
| Digital | $103.5M | 24% |
| Other | $44.4M | 10% |
| Global Professional | $36.2M | 8% |
| $24.7M | 6% |
SCHL
| Book Fairs | $242.0M | 44% |
| Trade US | $102.9M | 19% |
| Major Markets | $78.3M | 14% |
| Education Solutions | $62.2M | 11% |
| Book Clubs | $28.5M | 5% |
| Entertainment International | $13.5M | 2% |
| Other Markets | $11.2M | 2% |
| Trade International | $7.5M | 1% |
| Entertainment U.S. | $1.6M | 0% |
