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MKS INC（MKSI）与华纳音乐集团（WMG）财务数据对比。点击上方公司名可切换其他公司
华纳音乐集团的季度营收约是MKS INC的1.8倍（$1.8B vs $1.0B），MKS INC净利率更高（10.3% vs 9.6%，领先0.8%），MKS INC同比增速更快（10.6% vs 10.4%），华纳音乐集团自由现金流更多（$420.0M vs $92.0M），过去两年华纳音乐集团的营收复合增速更高（11.0% vs 9.1%）
MKS Inc原是跨国独立软件供应商，业务覆盖应用生命周期管理（ALM）及系统管理两大领域，2011年5月31日被参数技术公司（PTC, Inc.）收购，目前为PTC旗下子公司。
华纳音乐集团（简称WMG）是总部位于美国纽约的跨国娱乐及唱片集团，属于全球唱片行业“三大巨头”之一，市场规模位居全球音乐行业第三位，仅次于环球音乐集团与索尼音乐娱乐。
MKSI vs WMG — 直观对比
营收规模更大
WMG
是对方的1.8倍
$1.0B
营收增速更快
MKSI
高出0.1%
10.4%
净利率更高
MKSI
高出0.8%
9.6%
自由现金流更多
WMG
多$328.0M
$92.0M
两年增速更快
WMG
近两年复合增速
9.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.8B |
| 净利润 | $107.0M | $176.0M |
| 毛利率 | 46.3% | 46.4% |
| 营业利润率 | 13.9% | 15.7% |
| 净利率 | 10.3% | 9.6% |
| 营收同比 | 10.6% | 10.4% |
| 净利润同比 | 18.9% | -25.4% |
| 每股收益（稀释后） | $1.58 | — |
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MKSIWMG
| Q4 25 | $1.0B | $1.8B | ||
| Q3 25 | $988.0M | $1.9B | ||
| Q2 25 | $973.0M | $1.7B | ||
| Q1 25 | $936.0M | $1.5B | ||
| Q4 24 | $935.0M | $1.7B | ||
| Q3 24 | $896.0M | $1.6B | ||
| Q2 24 | $887.0M | $1.6B | ||
| Q1 24 | $868.0M | $1.5B |
净利润MKSIWMG
| Q4 25 | $107.0M | $176.0M | ||
| Q3 25 | $74.0M | $109.0M | ||
| Q2 25 | $62.0M | $-16.0M | ||
| Q1 25 | $52.0M | $36.0M | ||
| Q4 24 | $90.0M | $236.0M | ||
| Q3 24 | $62.0M | $41.0M | ||
| Q2 24 | $23.0M | $139.0M | ||
| Q1 24 | $15.0M | $96.0M |
毛利率MKSIWMG
| Q4 25 | 46.3% | 46.4% | ||
| Q3 25 | 46.7% | 44.6% | ||
| Q2 25 | 46.6% | 45.9% | ||
| Q1 25 | 47.4% | 46.7% | ||
| Q4 24 | 47.3% | 46.3% | ||
| Q3 24 | 48.2% | 47.6% | ||
| Q2 24 | 47.2% | 46.6% | ||
| Q1 24 | 47.8% | 47.1% |
营业利润率MKSIWMG
| Q4 25 | 13.9% | 15.7% | ||
| Q3 25 | 14.0% | 7.7% | ||
| Q2 25 | 13.9% | 10.0% | ||
| Q1 25 | 11.9% | 11.3% | ||
| Q4 24 | 14.7% | 12.8% | ||
| Q3 24 | 14.3% | 8.8% | ||
| Q2 24 | 14.3% | 13.3% | ||
| Q1 24 | 12.2% | 8.0% |
净利率MKSIWMG
| Q4 25 | 10.3% | 9.6% | ||
| Q3 25 | 7.5% | 5.8% | ||
| Q2 25 | 6.4% | -0.9% | ||
| Q1 25 | 5.6% | 2.4% | ||
| Q4 24 | 9.6% | 14.2% | ||
| Q3 24 | 6.9% | 2.5% | ||
| Q2 24 | 2.6% | 8.9% | ||
| Q1 24 | 1.7% | 6.4% |
每股收益（稀释后）MKSIWMG
| Q4 25 | $1.58 | — | ||
| Q3 25 | $1.10 | — | ||
| Q2 25 | $0.92 | — | ||
| Q1 25 | $0.77 | — | ||
| Q4 24 | $1.34 | — | ||
| Q3 24 | $0.92 | — | ||
| Q2 24 | $0.33 | — | ||
| Q1 24 | $0.22 | — |
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 | $418.0M | $751.0M |
| 总债务越低越好 | $4.2B | $4.4B |
| 股东权益账面价值 | $2.7B | $720.0M |
| 总资产 | $8.8B | $10.0B |
| 负债/权益比越低杠杆越低 | 1.53× | 6.07× |
8季度趋势，按日历期对齐
现金及短期投资MKSIWMG
| Q4 25 | $418.0M | $751.0M | ||
| Q3 25 | $413.0M | $532.0M | ||
| Q2 25 | $498.0M | $527.0M | ||
| Q1 25 | $407.0M | $637.0M | ||
| Q4 24 | $420.0M | $802.0M | ||
| Q3 24 | $439.0M | $694.0M | ||
| Q2 24 | $506.0M | $607.0M | ||
| Q1 24 | $1.0M | $587.0M |
总债务MKSIWMG
| Q4 25 | $4.2B | $4.4B | ||
| Q3 25 | $4.3B | $4.4B | ||
| Q2 25 | $4.4B | $4.4B | ||
| Q1 25 | $4.4B | $4.3B | ||
| Q4 24 | $4.5B | $4.0B | ||
| Q3 24 | $4.8B | $4.0B | ||
| Q2 24 | $4.8B | $4.0B | ||
| Q1 24 | $4.7B | $4.0B |
股东权益MKSIWMG
| Q4 25 | $2.7B | $720.0M | ||
| Q3 25 | $2.6B | $647.0M | ||
| Q2 25 | $2.6B | $589.0M | ||
| Q1 25 | $2.4B | $567.0M | ||
| Q4 24 | $2.3B | $545.0M | ||
| Q3 24 | $2.4B | $518.0M | ||
| Q2 24 | $2.2B | $483.0M | ||
| Q1 24 | $2.4B | $433.0M |
总资产MKSIWMG
| Q4 25 | $8.8B | $10.0B | ||
| Q3 25 | $8.8B | $9.8B | ||
| Q2 25 | $8.8B | $9.8B | ||
| Q1 25 | $8.6B | $9.6B | ||
| Q4 24 | $8.6B | $9.1B | ||
| Q3 24 | $9.0B | $9.2B | ||
| Q2 24 | $8.9B | $8.8B | ||
| Q1 24 | $8.9B | $8.7B |
负债/权益比MKSIWMG
| Q4 25 | 1.53× | 6.07× | ||
| Q3 25 | 1.64× | 6.75× | ||
| Q2 25 | 1.71× | 7.41× | ||
| Q1 25 | 1.87× | 7.57× | ||
| Q4 24 | 1.93× | 7.26× | ||
| Q3 24 | 1.98× | 7.75× | ||
| Q2 24 | 2.16× | 8.24× | ||
| Q1 24 | 1.94× | 9.20× |
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 | $142.0M | $440.0M |
| 自由现金流经营现金流 - 资本支出 | $92.0M | $420.0M |
| 自由现金流率自由现金流/营收 | 8.9% | 22.8% |
| 资本支出强度资本支出/营收 | 4.8% | 1.1% |
| 现金转化率经营现金流/净利润 | 1.33× | 2.50× |
| 过去12个月自由现金流最近4个季度 | $497.0M | $663.0M |
8季度趋势，按日历期对齐
经营现金流MKSIWMG
| Q4 25 | $142.0M | $440.0M | ||
| Q3 25 | $197.0M | $231.0M | ||
| Q2 25 | $165.0M | $46.0M | ||
| Q1 25 | $141.0M | $69.0M | ||
| Q4 24 | $176.0M | $332.0M | ||
| Q3 24 | $163.0M | $304.0M | ||
| Q2 24 | $122.0M | $188.0M | ||
| Q1 24 | $67.0M | $-31.0M |
自由现金流MKSIWMG
| Q4 25 | $92.0M | $420.0M | ||
| Q3 25 | $146.0M | $203.0M | ||
| Q2 25 | $136.0M | $7.0M | ||
| Q1 25 | $123.0M | $33.0M | ||
| Q4 24 | $125.0M | $296.0M | ||
| Q3 24 | $141.0M | $271.0M | ||
| Q2 24 | $95.0M | $160.0M | ||
| Q1 24 | $49.0M | $-57.0M |
自由现金流率MKSIWMG
| Q4 25 | 8.9% | 22.8% | ||
| Q3 25 | 14.8% | 10.9% | ||
| Q2 25 | 14.0% | 0.4% | ||
| Q1 25 | 13.1% | 2.2% | ||
| Q4 24 | 13.4% | 17.8% | ||
| Q3 24 | 15.7% | 16.6% | ||
| Q2 24 | 10.7% | 10.3% | ||
| Q1 24 | 5.6% | -3.8% |
资本支出强度MKSIWMG
| Q4 25 | 4.8% | 1.1% | ||
| Q3 25 | 5.2% | 1.5% | ||
| Q2 25 | 3.0% | 2.3% | ||
| Q1 25 | 1.9% | 2.4% | ||
| Q4 24 | 5.5% | 2.2% | ||
| Q3 24 | 2.5% | 2.0% | ||
| Q2 24 | 3.0% | 1.8% | ||
| Q1 24 | 2.1% | 1.7% |
现金转化率MKSIWMG
| Q4 25 | 1.33× | 2.50× | ||
| Q3 25 | 2.66× | 2.12× | ||
| Q2 25 | 2.66× | — | ||
| Q1 25 | 2.71× | 1.92× | ||
| Q4 24 | 1.96× | 1.41× | ||
| Q3 24 | 2.63× | 7.41× | ||
| Q2 24 | 5.30× | 1.35× | ||
| Q1 24 | 4.47× | -0.32× |
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
MKSI
| Electronics And Packaging | $303.0M | 29% |
| Specialty Industrial | $295.0M | 29% |
| Photonics Solutions Division | $274.0M | 26% |
| Services | $125.0M | 12% |
| Other | $37.0M | 4% |
WMG
| Digital | $976.0M | 53% |
| Music Publishing | $362.0M | 20% |
| Artist Services And Expanded Rights | $231.0M | 13% |
| Licensing | $121.0M | 7% |
| Performance | $64.0M | 3% |
| Synchronization | $60.0M | 3% |
| Mechanical | $18.0M | 1% |
| Other | $5.0M | 0% |
