vs
MUELLER INDUSTRIES INC（MLI）与INSPERITY, INC.（NSP）财务数据对比。点击上方公司名可切换其他公司
INSPERITY, INC.的季度营收约是MUELLER INDUSTRIES INC的1.7倍（$1.7B vs $962.4M），MUELLER INDUSTRIES INC同比增速更快（4.2% vs 3.4%），INSPERITY, INC.自由现金流更多（$246.0M vs $121.4M），过去两年MUELLER INDUSTRIES INC的营收复合增速更高（6.4% vs -3.8%）
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。
Insperity（前身为Administaff）是总部位于美国得克萨斯州休斯顿金伍德区的专业雇主组织（PEO），专注为中小微企业提供人力资源及行政事务外包等相关服务。自2004年起，该企业长期担任冠军巡回赛职业高尔夫赛事的冠名赞助商。
MLI vs NSP — 直观对比
营收规模更大
NSP
是对方的1.7倍
$962.4M
营收增速更快
MLI
高出0.8%
3.4%
自由现金流更多
NSP
多$124.6M
$121.4M
两年增速更快
MLI
近两年复合增速
-3.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $962.4M | $1.7B |
| 净利润 | $153.7M | — |
| 毛利率 | — | 10.3% |
| 营业利润率 | 17.9% | -2.8% |
| 净利率 | 16.0% | — |
| 营收同比 | 4.2% | 3.4% |
| 净利润同比 | 11.7% | — |
| 每股收益（稀释后） | $1.37 | $-0.87 |
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MLINSP
| Q4 25 | $962.4M | $1.7B | ||
| Q3 25 | $1.1B | $1.6B | ||
| Q2 25 | $1.1B | $1.7B | ||
| Q1 25 | $1.0B | $1.9B | ||
| Q4 24 | $923.5M | $1.6B | ||
| Q3 24 | $997.8M | $1.6B | ||
| Q2 24 | $997.7M | $1.6B | ||
| Q1 24 | $849.7M | $1.8B |
净利润MLINSP
| Q4 25 | $153.7M | — | ||
| Q3 25 | $208.1M | $-20.0M | ||
| Q2 25 | $245.9M | $-5.0M | ||
| Q1 25 | $157.4M | $51.0M | ||
| Q4 24 | $137.7M | — | ||
| Q3 24 | $168.7M | $3.0M | ||
| Q2 24 | $160.2M | $18.0M | ||
| Q1 24 | $138.4M | $79.0M |
毛利率MLINSP
| Q4 25 | — | 10.3% | ||
| Q3 25 | — | 12.0% | ||
| Q2 25 | — | 13.4% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 13.5% | ||
| Q3 24 | 27.6% | 14.7% | ||
| Q2 24 | 27.3% | 16.2% | ||
| Q1 24 | 28.4% | 19.1% |
营业利润率MLINSP
| Q4 25 | 17.9% | -2.8% | ||
| Q3 25 | 25.6% | -1.5% | ||
| Q2 25 | 26.7% | -0.4% | ||
| Q1 25 | 20.6% | 3.7% | ||
| Q4 24 | 18.4% | -0.9% | ||
| Q3 24 | 20.7% | 0.1% | ||
| Q2 24 | 21.0% | 1.4% | ||
| Q1 24 | 21.6% | 6.0% |
净利率MLINSP
| Q4 25 | 16.0% | — | ||
| Q3 25 | 19.3% | -1.2% | ||
| Q2 25 | 21.6% | -0.3% | ||
| Q1 25 | 15.7% | 2.7% | ||
| Q4 24 | 14.9% | — | ||
| Q3 24 | 16.9% | 0.2% | ||
| Q2 24 | 16.1% | 1.1% | ||
| Q1 24 | 16.3% | 4.4% |
每股收益（稀释后）MLINSP
| Q4 25 | $1.37 | $-0.87 | ||
| Q3 25 | $1.88 | $-0.53 | ||
| Q2 25 | $2.22 | $-0.14 | ||
| Q1 25 | $1.39 | $1.35 | ||
| Q4 24 | $1.21 | $-0.21 | ||
| Q3 24 | $1.48 | $0.07 | ||
| Q2 24 | $1.41 | $0.48 | ||
| Q1 24 | $1.21 | $2.08 |
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 | $682.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.2B | $46.0M |
| 总资产 | $3.7B | $2.2B |
| 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MLINSP
| Q4 25 | $1.4B | $682.0M | ||
| Q3 25 | $1.3B | $521.0M | ||
| Q2 25 | $1.1B | $511.0M | ||
| Q1 25 | $873.6M | $684.0M | ||
| Q4 24 | $1.1B | $1.2B | ||
| Q3 24 | $969.6M | $596.0M | ||
| Q2 24 | $825.7M | $850.0M | ||
| Q1 24 | $1.4B | $801.0M |
股东权益MLINSP
| Q4 25 | $3.2B | $46.0M | ||
| Q3 25 | $3.1B | $87.0M | ||
| Q2 25 | $2.9B | $112.0M | ||
| Q1 25 | $2.7B | $119.0M | ||
| Q4 24 | $2.8B | $97.0M | ||
| Q3 24 | $2.7B | $125.0M | ||
| Q2 24 | $2.5B | $142.0M | ||
| Q1 24 | $2.4B | $140.0M |
总资产MLINSP
| Q4 25 | $3.7B | $2.2B | ||
| Q3 25 | $3.7B | $2.0B | ||
| Q2 25 | $3.5B | $2.0B | ||
| Q1 25 | $3.2B | $2.1B | ||
| Q4 24 | $3.3B | $2.6B | ||
| Q3 24 | $3.2B | $1.9B | ||
| Q2 24 | $3.1B | $2.1B | ||
| Q1 24 | $2.9B | $2.1B |
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 | $255.0M |
| 自由现金流经营现金流 - 资本支出 | $121.4M | $246.0M |
| 自由现金流率自由现金流/营收 | 12.6% | 14.7% |
| 资本支出强度资本支出/营收 | 2.1% | 0.5% |
| 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 | $-309.0M |
8季度趋势，按日历期对齐
经营现金流MLINSP
| Q4 25 | $141.2M | $255.0M | ||
| Q3 25 | $310.1M | $-11.0M | ||
| Q2 25 | $190.6M | $-79.0M | ||
| Q1 25 | $113.6M | $-443.0M | ||
| Q4 24 | $140.1M | $619.0M | ||
| Q3 24 | $231.4M | $-150.0M | ||
| Q2 24 | $100.8M | $20.0M | ||
| Q1 24 | $173.6M | $31.0M |
自由现金流MLINSP
| Q4 25 | $121.4M | $246.0M | ||
| Q3 25 | $291.8M | $-20.0M | ||
| Q2 25 | $176.5M | $-86.0M | ||
| Q1 25 | $97.0M | $-449.0M | ||
| Q4 24 | $111.2M | $606.0M | ||
| Q3 24 | $205.7M | $-164.0M | ||
| Q2 24 | $91.6M | $14.0M | ||
| Q1 24 | $157.2M | $26.0M |
自由现金流率MLINSP
| Q4 25 | 12.6% | 14.7% | ||
| Q3 25 | 27.1% | -1.2% | ||
| Q2 25 | 15.5% | -5.2% | ||
| Q1 25 | 9.7% | -24.1% | ||
| Q4 24 | 12.0% | 37.6% | ||
| Q3 24 | 20.6% | -10.5% | ||
| Q2 24 | 9.2% | 0.9% | ||
| Q1 24 | 18.5% | 1.4% |
资本支出强度MLINSP
| Q4 25 | 2.1% | 0.5% | ||
| Q3 25 | 1.7% | 0.6% | ||
| Q2 25 | 1.2% | 0.4% | ||
| Q1 25 | 1.7% | 0.3% | ||
| Q4 24 | 3.1% | 0.8% | ||
| Q3 24 | 2.6% | 0.9% | ||
| Q2 24 | 0.9% | 0.4% | ||
| Q1 24 | 1.9% | 0.3% |
现金转化率MLINSP
| Q4 25 | 0.92× | — | ||
| Q3 25 | 1.49× | — | ||
| Q2 25 | 0.78× | — | ||
| Q1 25 | 0.72× | -8.69× | ||
| Q4 24 | 1.02× | — | ||
| Q3 24 | 1.37× | -50.00× | ||
| Q2 24 | 0.63× | 1.11× | ||
| Q1 24 | 1.25× | 0.39× |
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% |
NSP
| Northeast | $455.0M | 27% |
| West | $339.0M | 20% |
| Southwest | $317.0M | 19% |
| Central | $299.0M | 18% |
| Southeast | $241.0M | 14% |
| Other Revenues | $17.0M | 1% |
