vs
MUELLER INDUSTRIES INC（MLI）与莫德纳（MRNA）财务数据对比。点击上方公司名可切换其他公司
莫德纳的季度营收约是MUELLER INDUSTRIES INC的1.1倍（$1.0B vs $962.4M），MUELLER INDUSTRIES INC净利率更高（16.0% vs -19.7%，领先35.7%），MUELLER INDUSTRIES INC同比增速更快（4.2% vs -45.4%），MUELLER INDUSTRIES INC自由现金流更多（$121.4M vs $-880.0M），过去两年MUELLER INDUSTRIES INC的营收复合增速更高（6.4% vs -45.0%）
Mueller Industries是美国知名工业制造企业，1917年正式成立，总部坐落于美国田纳西州孟菲斯市，主营管道产品、工业金属及暖通制冷设备，2022年入选《财富》1000强榜单，是年营收达数十亿美元的公开上市企业。
莫德纳是一家总部位于美国马萨诸塞州剑桥市的生物制药企业，深耕RNA治疗领域，核心业务聚焦mRNA疫苗研发。其疫苗通过信使RNA（mRNA）分子拷贝传递蛋白合成指令以触发人体免疫反应，公司名称由“修饰”“RNA”与“现代”三个词组合而来。
MLI vs MRNA — 直观对比
营收规模更大
MRNA
是对方的1.1倍
$962.4M
营收增速更快
MLI
高出49.6%
-45.4%
净利率更高
MLI
高出35.7%
-19.7%
自由现金流更多
MLI
多$1.0B
$-880.0M
两年增速更快
MLI
近两年复合增速
-45.0%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $962.4M | $1.0B |
| 净利润 | $153.7M | $-200.0M |
| 毛利率 | — | 79.6% |
| 营业利润率 | 17.9% | -25.6% |
| 净利率 | 16.0% | -19.7% |
| 营收同比 | 4.2% | -45.4% |
| 净利润同比 | 11.7% | -1638.5% |
| 每股收益（稀释后） | $1.37 | $-0.51 |
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MLIMRNA
| Q4 25 | $962.4M | — | ||
| Q3 25 | $1.1B | $1.0B | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $923.5M | $966.0M | ||
| Q3 24 | $997.8M | $1.9B | ||
| Q2 24 | $997.7M | — | ||
| Q1 24 | $849.7M | — |
净利润MLIMRNA
| Q4 25 | $153.7M | — | ||
| Q3 25 | $208.1M | $-200.0M | ||
| Q2 25 | $245.9M | — | ||
| Q1 25 | $157.4M | — | ||
| Q4 24 | $137.7M | $-1.1B | ||
| Q3 24 | $168.7M | $13.0M | ||
| Q2 24 | $160.2M | — | ||
| Q1 24 | $138.4M | — |
毛利率MLIMRNA
| Q4 25 | — | — | ||
| Q3 25 | — | 79.6% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 23.5% | ||
| Q3 24 | 27.6% | 72.4% | ||
| Q2 24 | 27.3% | — | ||
| Q1 24 | 28.4% | — |
营业利润率MLIMRNA
| Q4 25 | 17.9% | — | ||
| Q3 25 | 25.6% | -25.6% | ||
| Q2 25 | 26.7% | — | ||
| Q1 25 | 20.6% | — | ||
| Q4 24 | 18.4% | -129.0% | ||
| Q3 24 | 20.7% | -3.8% | ||
| Q2 24 | 21.0% | — | ||
| Q1 24 | 21.6% | — |
净利率MLIMRNA
| Q4 25 | 16.0% | — | ||
| Q3 25 | 19.3% | -19.7% | ||
| Q2 25 | 21.6% | — | ||
| Q1 25 | 15.7% | — | ||
| Q4 24 | 14.9% | -115.9% | ||
| Q3 24 | 16.9% | 0.7% | ||
| Q2 24 | 16.1% | — | ||
| Q1 24 | 16.3% | — |
每股收益（稀释后）MLIMRNA
| Q4 25 | $1.37 | — | ||
| Q3 25 | $1.88 | $-0.51 | ||
| Q2 25 | $2.22 | — | ||
| Q1 25 | $1.39 | — | ||
| Q4 24 | $1.21 | $-2.91 | ||
| Q3 24 | $1.48 | $0.03 | ||
| Q2 24 | $1.41 | — | ||
| Q1 24 | $1.21 | — |
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 | $1.4B | $1.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.2B | $9.3B |
| 总资产 | $3.7B | $12.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MLIMRNA
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $873.6M | — | ||
| Q4 24 | $1.1B | $1.9B | ||
| Q3 24 | $969.6M | $1.6B | ||
| Q2 24 | $825.7M | — | ||
| Q1 24 | $1.4B | — |
股东权益MLIMRNA
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.1B | $9.3B | ||
| Q2 25 | $2.9B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.8B | $10.9B | ||
| Q3 24 | $2.7B | $11.9B | ||
| Q2 24 | $2.5B | — | ||
| Q1 24 | $2.4B | — |
总资产MLIMRNA
| Q4 25 | $3.7B | — | ||
| Q3 25 | $3.7B | $12.1B | ||
| Q2 25 | $3.5B | — | ||
| Q1 25 | $3.2B | — | ||
| Q4 24 | $3.3B | $14.1B | ||
| Q3 24 | $3.2B | $15.8B | ||
| Q2 24 | $3.1B | — | ||
| Q1 24 | $2.9B | — |
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 | $141.2M | $-847.0M |
| 自由现金流经营现金流 - 资本支出 | $121.4M | $-880.0M |
| 自由现金流率自由现金流/营收 | 12.6% | -86.6% |
| 资本支出强度资本支出/营收 | 2.1% | 3.2% |
| 现金转化率经营现金流/净利润 | 0.92× | — |
| 过去12个月自由现金流最近4个季度 | $686.6M | $-1.9B |
8季度趋势，按日历期对齐
经营现金流MLIMRNA
| Q4 25 | $141.2M | — | ||
| Q3 25 | $310.1M | $-847.0M | ||
| Q2 25 | $190.6M | — | ||
| Q1 25 | $113.6M | — | ||
| Q4 24 | $140.1M | $825.0M | ||
| Q3 24 | $231.4M | $-1.6B | ||
| Q2 24 | $100.8M | — | ||
| Q1 24 | $173.6M | — |
自由现金流MLIMRNA
| Q4 25 | $121.4M | — | ||
| Q3 25 | $291.8M | $-880.0M | ||
| Q2 25 | $176.5M | — | ||
| Q1 25 | $97.0M | — | ||
| Q4 24 | $111.2M | $303.0M | ||
| Q3 24 | $205.7M | $-1.7B | ||
| Q2 24 | $91.6M | — | ||
| Q1 24 | $157.2M | — |
自由现金流率MLIMRNA
| Q4 25 | 12.6% | — | ||
| Q3 25 | 27.1% | -86.6% | ||
| Q2 25 | 15.5% | — | ||
| Q1 25 | 9.7% | — | ||
| Q4 24 | 12.0% | 31.4% | ||
| Q3 24 | 20.6% | -92.2% | ||
| Q2 24 | 9.2% | — | ||
| Q1 24 | 18.5% | — |
资本支出强度MLIMRNA
| Q4 25 | 2.1% | — | ||
| Q3 25 | 1.7% | 3.2% | ||
| Q2 25 | 1.2% | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 3.1% | 54.0% | ||
| Q3 24 | 2.6% | 8.1% | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | 1.9% | — |
现金转化率MLIMRNA
| Q4 25 | 0.92× | — | ||
| Q3 25 | 1.49× | — | ||
| Q2 25 | 0.78× | — | ||
| Q1 25 | 0.72× | — | ||
| Q4 24 | 1.02× | — | ||
| Q3 24 | 1.37× | -120.46× | ||
| Q2 24 | 0.63× | — | ||
| Q1 24 | 1.25× | — |
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
MLI
| Tube And Fittings | $484.6M | 50% |
| Industrial Metals | $252.2M | 26% |
| Valves And Plumbing Specialties | $122.5M | 13% |
| Flex Duct And Other HVAC Components | $80.8M | 8% |
| Other Products | $14.9M | 2% |
MRNA
| COVID19 | $971.0M | 96% |
| Other Revenue | $20.0M | 2% |
| Grant | $14.0M | 1% |
| Collaboration Arrangement Including Arrangements With Affiliate | $7.0M | 1% |
| License And Royalty | $2.0M | 0% |
