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麦格劳希尔（MH）与Tilray Brands, Inc.（TLRY）财务数据对比。点击上方公司名可切换其他公司
麦格劳希尔的季度营收约是Tilray Brands, Inc.的2.0倍（$434.2M vs $217.5M），麦格劳希尔净利率更高（-4.7% vs -20.7%，领先16.0%），Tilray Brands, Inc.同比增速更快（3.1% 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。
Tilray Brands, Inc.是一家美国企业，主营医药、大麻生活方式产品以及包装消费品业务，公司注册于美国，总部坐落于纽约。该公司在加拿大、澳大利亚、新西兰、拉美地区均开展业务，同时在德国和葡萄牙拥有大麻种植基地。
MH vs TLRY — 直观对比
营收规模更大
MH
是对方的2.0倍
$217.5M
营收增速更快
TLRY
高出38.2%
-35.1%
净利率更高
MH
高出16.0%
-20.7%
损益表 — Q3 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $434.2M | $217.5M |
| 净利润 | $-20.2M | $-44.9M |
| 毛利率 | 85.3% | 26.4% |
| 营业利润率 | 7.0% | -10.2% |
| 净利率 | -4.7% | -20.7% |
| 营收同比 | -35.1% | 3.1% |
| 净利润同比 | -119.2% | 47.4% |
| 每股收益（稀释后） | $-0.11 | $-0.41 |
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MHTLRY
| Q4 25 | $434.2M | $217.5M | ||
| Q3 25 | $669.2M | $209.5M | ||
| Q2 25 | $535.7M | $224.5M | ||
| Q1 25 | — | $185.8M | ||
| Q4 24 | — | $210.9M | ||
| Q3 24 | — | $200.0M | ||
| Q2 24 | — | $229.9M | ||
| Q1 24 | — | $188.3M |
净利润MHTLRY
| Q4 25 | $-20.2M | $-44.9M | ||
| Q3 25 | $105.3M | $-322.0K | ||
| Q2 25 | $502.0K | $-1.3B | ||
| Q1 25 | — | $-789.4M | ||
| Q4 24 | — | $-85.3M | ||
| Q3 24 | — | $-39.2M | ||
| Q2 24 | — | $-31.7M | ||
| Q1 24 | — | $-92.7M |
毛利率MHTLRY
| Q4 25 | 85.3% | 26.4% | ||
| Q3 25 | 79.2% | 27.4% | ||
| Q2 25 | 77.0% | 30.1% | ||
| Q1 25 | — | 28.0% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 29.8% | ||
| Q2 24 | — | 35.8% | ||
| Q1 24 | — | 26.2% |
营业利润率MHTLRY
| Q4 25 | 7.0% | -10.2% | ||
| Q3 25 | 23.4% | 1.0% | ||
| Q2 25 | 18.0% | -643.1% | ||
| Q1 25 | — | -409.0% | ||
| Q4 24 | — | -20.0% | ||
| Q3 24 | — | -18.3% | ||
| Q2 24 | — | -7.2% | ||
| Q1 24 | — | -43.6% |
净利率MHTLRY
| Q4 25 | -4.7% | -20.7% | ||
| Q3 25 | 15.7% | -0.2% | ||
| Q2 25 | 0.1% | -566.9% | ||
| Q1 25 | — | -424.9% | ||
| Q4 24 | — | -40.5% | ||
| Q3 24 | — | -19.6% | ||
| Q2 24 | — | -13.8% | ||
| Q1 24 | — | -49.2% |
每股收益（稀释后）MHTLRY
| Q4 25 | $-0.11 | $-0.41 | ||
| Q3 25 | $0.57 | $0.00 | ||
| Q2 25 | $0.00 | $7.26 | ||
| Q1 25 | — | $-8.69 | ||
| Q4 24 | — | $-0.99 | ||
| Q3 24 | — | $-0.04 | ||
| Q2 24 | — | $-0.04 | ||
| Q1 24 | — | $-0.12 |
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 | $291.6M |
| 总债务越低越好 | $2.6B | — |
| 股东权益账面价值 | $775.3M | $1.6B |
| 总资产 | $5.6B | $2.1B |
| 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MHTLRY
| Q4 25 | $514.4M | $291.6M | ||
| Q3 25 | $463.2M | $264.8M | ||
| Q2 25 | $247.3M | $256.4M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $252.2M | ||
| Q3 24 | — | $280.1M | ||
| Q2 24 | — | $260.5M | ||
| Q1 24 | — | $225.9M |
总债务MHTLRY
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益MHTLRY
| Q4 25 | $775.3M | $1.6B | ||
| Q3 25 | $794.6M | $1.5B | ||
| Q2 25 | $283.3M | $1.5B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $3.5B | ||
| Q3 24 | — | $3.5B | ||
| Q2 24 | — | $3.4B | ||
| Q1 24 | — | $3.4B |
总资产MHTLRY
| Q4 25 | $5.6B | $2.1B | ||
| Q3 25 | $6.0B | $2.1B | ||
| Q2 25 | $5.7B | $2.1B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.2B |
负债/权益比MHTLRY
| Q4 25 | 3.36× | — | ||
| Q3 25 | 3.52× | — | ||
| Q2 25 | 11.17× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 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 | $-8.5M |
| 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 | — | — |
| 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MHTLRY
| Q4 25 | $309.0M | $-8.5M | ||
| Q3 25 | $265.0M | $-1.3M | ||
| Q2 25 | $-96.7M | $-12.8M | ||
| Q1 25 | — | $-5.8M | ||
| Q4 24 | — | $-40.7M | ||
| Q3 24 | — | $-35.3M | ||
| Q2 24 | — | $30.7M | ||
| Q1 24 | — | $-15.4M |
自由现金流MHTLRY
| Q4 25 | $285.4M | — | ||
| Q3 25 | $243.8M | — | ||
| Q2 25 | $-112.9M | $-19.1M | ||
| Q1 25 | — | $-20.2M | ||
| Q4 24 | — | $-46.2M | ||
| Q3 24 | — | $-42.0M | ||
| Q2 24 | — | $21.0M | ||
| Q1 24 | — | $-24.9M |
自由现金流率MHTLRY
| Q4 25 | 65.7% | — | ||
| Q3 25 | 36.4% | — | ||
| Q2 25 | -21.1% | -8.5% | ||
| Q1 25 | — | -10.9% | ||
| Q4 24 | — | -21.9% | ||
| Q3 24 | — | -21.0% | ||
| Q2 24 | — | 9.1% | ||
| Q1 24 | — | -13.2% |
资本支出强度MHTLRY
| Q4 25 | 5.4% | — | ||
| Q3 25 | 3.2% | — | ||
| Q2 25 | 3.0% | 2.8% | ||
| Q1 25 | — | 7.8% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 3.4% | ||
| Q2 24 | — | 4.2% | ||
| Q1 24 | — | 5.1% |
现金转化率MHTLRY
| Q4 25 | — | — | ||
| Q3 25 | 2.52× | — | ||
| Q2 25 | -192.53× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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% |
TLRY
| Adultuse Cannabis Products | $62.4M | 29% |
| Other | $59.2M | 27% |
| Beverage Alcohol Business | $53.6M | 25% |
| International Cannabis Products | $20.2M | 9% |
| Wellness Business | $14.6M | 7% |
| Medical Cannabis Products | $6.2M | 3% |
| Wholesale Cannabis Products | $1.3M | 1% |
