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M/I HOMES, INC.（MHO）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
M/I HOMES, INC.的季度营收约是Martin Marietta Materials的1.0倍（$1.1B vs $1.1B），Martin Marietta Materials净利率更高（24.5% vs 5.6%，领先18.9%），M/I HOMES, INC.同比增速更快（-4.8% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $-13.0M），过去两年M/I HOMES, INC.的营收复合增速更高（4.7% vs -4.5%）
M/I Homes是美国领先的住宅建筑企业，主要设计、建造及销售独栋住宅、联排住宅与复式公寓，业务覆盖美国多州，面向首次置业、改善型及高端置业群体，提供节能住宅产品与个性化定制服务。
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。
MHO vs MLM — 直观对比
营收规模更大
MHO
是对方的1.0倍
$1.1B
营收增速更快
MHO
高出25.3%
-30.1%
净利率更高
MLM
高出18.9%
5.6%
自由现金流更多
MLM
多$437.0M
$-13.0M
两年增速更快
MHO
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.1B |
| 净利润 | $64.0M | $279.0M |
| 毛利率 | 17.4% | 35.0% |
| 营业利润率 | 6.5% | 24.6% |
| 净利率 | 5.6% | 24.5% |
| 营收同比 | -4.8% | -30.1% |
| 净利润同比 | -52.1% | -4.8% |
| 每股收益（稀释后） | $2.42 | $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MHOMLM
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.1B | $1.8B | ||
| Q2 25 | $1.2B | $1.8B | ||
| Q1 25 | $976.1M | $1.4B | ||
| Q4 24 | $1.2B | $1.6B | ||
| Q3 24 | $1.1B | $1.9B | ||
| Q2 24 | $1.1B | $1.8B | ||
| Q1 24 | $1.0B | $1.3B |
净利润MHOMLM
| Q4 25 | $64.0M | $279.0M | ||
| Q3 25 | $106.5M | $414.0M | ||
| Q2 25 | $121.2M | $328.0M | ||
| Q1 25 | $111.2M | $116.0M | ||
| Q4 24 | $133.5M | $293.0M | ||
| Q3 24 | $145.4M | $363.0M | ||
| Q2 24 | $146.7M | $294.0M | ||
| Q1 24 | $138.1M | $1.0B |
毛利率MHOMLM
| Q4 25 | 17.4% | 35.0% | ||
| Q3 25 | 24.5% | 33.1% | ||
| Q2 25 | 24.7% | 30.0% | ||
| Q1 25 | 25.9% | 24.8% | ||
| Q4 24 | 24.6% | 30.0% | ||
| Q3 24 | 27.1% | 31.7% | ||
| Q2 24 | 27.9% | 29.3% | ||
| Q1 24 | 27.1% | 21.7% |
营业利润率MHOMLM
| Q4 25 | 6.5% | 24.6% | ||
| Q3 25 | 12.0% | 27.4% | ||
| Q2 25 | 13.4% | 25.3% | ||
| Q1 25 | 14.4% | 14.3% | ||
| Q4 24 | 13.6% | 24.4% | ||
| Q3 24 | 15.9% | 25.9% | ||
| Q2 24 | 16.8% | 22.6% | ||
| Q1 24 | 16.6% | — |
净利率MHOMLM
| Q4 25 | 5.6% | 24.5% | ||
| Q3 25 | 9.4% | 22.4% | ||
| Q2 25 | 10.4% | 18.1% | ||
| Q1 25 | 11.4% | 8.6% | ||
| Q4 24 | 11.1% | 18.0% | ||
| Q3 24 | 12.7% | 19.2% | ||
| Q2 24 | 13.2% | 16.7% | ||
| Q1 24 | 13.2% | 83.5% |
每股收益（稀释后）MHOMLM
| Q4 25 | $2.42 | $4.59 | ||
| Q3 25 | $3.92 | $6.85 | ||
| Q2 25 | $4.42 | $5.43 | ||
| Q1 25 | $3.98 | $1.90 | ||
| Q4 24 | $4.71 | $4.87 | ||
| Q3 24 | $5.10 | $5.91 | ||
| Q2 24 | $5.12 | $4.76 | ||
| Q1 24 | $4.78 | $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 | — | $67.0M |
| 总债务越低越好 | — | $5.3B |
| 股东权益账面价值 | $3.2B | $10.0B |
| 总资产 | $4.8B | $18.7B |
| 负债/权益比越低杠杆越低 | — | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资MHOMLM
| Q4 25 | — | $67.0M | ||
| Q3 25 | — | $57.0M | ||
| Q2 25 | — | $225.0M | ||
| Q1 25 | — | $101.0M | ||
| Q4 24 | — | $670.0M | ||
| Q3 24 | — | $52.0M | ||
| Q2 24 | — | $109.0M | ||
| Q1 24 | — | $2.6B |
总债务MHOMLM
| Q4 25 | — | $5.3B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.4B | ||
| Q4 24 | — | $5.4B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.3B |
股东权益MHOMLM
| Q4 25 | $3.2B | $10.0B | ||
| Q3 25 | $3.1B | $9.7B | ||
| Q2 25 | $3.1B | $9.4B | ||
| Q1 25 | $3.0B | $9.1B | ||
| Q4 24 | $2.9B | $9.5B | ||
| Q3 24 | $2.8B | $9.2B | ||
| Q2 24 | $2.7B | $8.8B | ||
| Q1 24 | $2.6B | $8.9B |
总资产MHOMLM
| Q4 25 | $4.8B | $18.7B | ||
| Q3 25 | $4.8B | $18.7B | ||
| Q2 25 | $4.7B | $18.1B | ||
| Q1 25 | $4.6B | $17.7B | ||
| Q4 24 | $4.5B | $18.2B | ||
| Q3 24 | $4.5B | $16.5B | ||
| Q2 24 | $4.3B | $16.3B | ||
| Q1 24 | $4.2B | $16.2B |
负债/权益比MHOMLM
| Q4 25 | — | 0.53× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | 0.58× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | — | 0.57× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.49× | ||
| Q1 24 | — | 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 | $-8.7M | $629.0M |
| 自由现金流经营现金流 - 资本支出 | $-13.0M | $424.0M |
| 自由现金流率自由现金流/营收 | -1.1% | 37.2% |
| 资本支出强度资本支出/营收 | 0.4% | 18.0% |
| 现金转化率经营现金流/净利润 | -0.14× | 2.25× |
| 过去12个月自由现金流最近4个季度 | $127.7M | $978.0M |
8季度趋势，按日历期对齐
经营现金流MHOMLM
| Q4 25 | $-8.7M | $629.0M | ||
| Q3 25 | $43.4M | $551.0M | ||
| Q2 25 | $37.8M | $387.0M | ||
| Q1 25 | $64.9M | $218.0M | ||
| Q4 24 | $104.4M | $686.0M | ||
| Q3 24 | $-67.9M | $600.0M | ||
| Q2 24 | $27.5M | $1.0M | ||
| Q1 24 | $115.8M | $172.0M |
自由现金流MHOMLM
| Q4 25 | $-13.0M | $424.0M | ||
| Q3 25 | $42.0M | $361.0M | ||
| Q2 25 | $35.1M | $208.0M | ||
| Q1 25 | $63.5M | $-15.0M | ||
| Q4 24 | $102.3M | $453.0M | ||
| Q3 24 | $-68.5M | $317.0M | ||
| Q2 24 | $22.0M | $-138.0M | ||
| Q1 24 | $115.5M | $-28.0M |
自由现金流率MHOMLM
| Q4 25 | -1.1% | 37.2% | ||
| Q3 25 | 3.7% | 19.6% | ||
| Q2 25 | 3.0% | 11.5% | ||
| Q1 25 | 6.5% | -1.1% | ||
| Q4 24 | 8.5% | 27.8% | ||
| Q3 24 | -6.0% | 16.8% | ||
| Q2 24 | 2.0% | -7.8% | ||
| Q1 24 | 11.0% | -2.2% |
资本支出强度MHOMLM
| Q4 25 | 0.4% | 18.0% | ||
| Q3 25 | 0.1% | 10.3% | ||
| Q2 25 | 0.2% | 9.9% | ||
| Q1 25 | 0.1% | 17.2% | ||
| Q4 24 | 0.2% | 14.3% | ||
| Q3 24 | 0.1% | 15.0% | ||
| Q2 24 | 0.5% | 7.9% | ||
| Q1 24 | 0.0% | 16.0% |
现金转化率MHOMLM
| Q4 25 | -0.14× | 2.25× | ||
| Q3 25 | 0.41× | 1.33× | ||
| Q2 25 | 0.31× | 1.18× | ||
| Q1 25 | 0.58× | 1.88× | ||
| Q4 24 | 0.78× | 2.34× | ||
| Q3 24 | -0.47× | 1.65× | ||
| Q2 24 | 0.19× | 0.00× | ||
| Q1 24 | 0.84× | 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
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 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% |
