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MUELLER INDUSTRIES INC（MLI）与OCEANEERING INTERNATIONAL INC（OII）财务数据对比。点击上方公司名可切换其他公司
MUELLER INDUSTRIES INC的季度营收约是OCEANEERING INTERNATIONAL INC的1.4倍（$962.4M vs $692.4M），MUELLER INDUSTRIES INC净利率更高（16.0% vs 5.2%，领先10.8%），MUELLER INDUSTRIES INC同比增速更快（4.2% vs 2.7%），MUELLER INDUSTRIES INC自由现金流更多（$121.4M vs $-76.5M），过去两年MUELLER INDUSTRIES INC的营收复合增速更高（6.4% vs 1.8%）
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。
奥什科什国际（Oceaneering International）是一家总部位于美国得克萨斯州休斯敦的水下工程及应用技术企业，为海洋、航天及其他特殊作业场景的客户提供定制化工程服务与硬件设备，在极端环境工程领域拥有深厚的技术积累。
MLI vs OII — 直观对比
营收规模更大
MLI
是对方的1.4倍
$692.4M
营收增速更快
MLI
高出1.6%
2.7%
净利率更高
MLI
高出10.8%
5.2%
自由现金流更多
MLI
多$197.9M
$-76.5M
两年增速更快
MLI
近两年复合增速
1.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $962.4M | $692.4M |
| 净利润 | $153.7M | $36.1M |
| 毛利率 | — | — |
| 营业利润率 | 17.9% | — |
| 净利率 | 16.0% | 5.2% |
| 营收同比 | 4.2% | 2.7% |
| 净利润同比 | 11.7% | -79.7% |
| 每股收益（稀释后） | $1.37 | $0.36 |
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MLIOII
| Q1 26 | — | $692.4M | ||
| Q4 25 | $962.4M | $668.6M | ||
| Q3 25 | $1.1B | $742.9M | ||
| Q2 25 | $1.1B | $698.2M | ||
| Q1 25 | $1.0B | $674.5M | ||
| Q4 24 | $923.5M | $713.5M | ||
| Q3 24 | $997.8M | $679.8M | ||
| Q2 24 | $997.7M | $668.8M |
净利润MLIOII
| Q1 26 | — | $36.1M | ||
| Q4 25 | $153.7M | $177.7M | ||
| Q3 25 | $208.1M | $71.3M | ||
| Q2 25 | $245.9M | $54.4M | ||
| Q1 25 | $157.4M | $50.4M | ||
| Q4 24 | $137.7M | $56.1M | ||
| Q3 24 | $168.7M | $41.2M | ||
| Q2 24 | $160.2M | $35.0M |
毛利率MLIOII
| Q1 26 | — | — | ||
| Q4 25 | — | 19.8% | ||
| Q3 25 | — | 20.6% | ||
| Q2 25 | — | 21.3% | ||
| Q1 25 | — | 20.0% | ||
| Q4 24 | — | 19.9% | ||
| Q3 24 | 27.6% | 19.3% | ||
| Q2 24 | 27.3% | 18.0% |
营业利润率MLIOII
| Q1 26 | — | — | ||
| Q4 25 | 17.9% | 9.8% | ||
| Q3 25 | 25.6% | 11.6% | ||
| Q2 25 | 26.7% | 11.3% | ||
| Q1 25 | 20.6% | 10.9% | ||
| Q4 24 | 18.4% | 10.9% | ||
| Q3 24 | 20.7% | 10.5% | ||
| Q2 24 | 21.0% | 9.0% |
净利率MLIOII
| Q1 26 | — | 5.2% | ||
| Q4 25 | 16.0% | 26.6% | ||
| Q3 25 | 19.3% | 9.6% | ||
| Q2 25 | 21.6% | 7.8% | ||
| Q1 25 | 15.7% | 7.5% | ||
| Q4 24 | 14.9% | 7.9% | ||
| Q3 24 | 16.9% | 6.1% | ||
| Q2 24 | 16.1% | 5.2% |
每股收益（稀释后）MLIOII
| Q1 26 | — | $0.36 | ||
| Q4 25 | $1.37 | $1.75 | ||
| Q3 25 | $1.88 | $0.71 | ||
| Q2 25 | $2.22 | $0.54 | ||
| Q1 25 | $1.39 | $0.49 | ||
| Q4 24 | $1.21 | $0.55 | ||
| Q3 24 | $1.48 | $0.40 | ||
| Q2 24 | $1.41 | $0.34 |
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 | — |
| 总债务越低越好 | — | $488.8M |
| 股东权益账面价值 | $3.2B | $1.1B |
| 总资产 | $3.7B | $2.6B |
| 负债/权益比越低杠杆越低 | — | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资MLIOII
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | $695.9M | ||
| Q3 25 | $1.3B | $7.0M | ||
| Q2 25 | $1.1B | $7.0M | ||
| Q1 25 | $873.6M | $7.0M | ||
| Q4 24 | $1.1B | $504.5M | ||
| Q3 24 | $969.6M | — | ||
| Q2 24 | $825.7M | — |
总债务MLIOII
| Q1 26 | — | $488.8M | ||
| Q4 25 | — | $487.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $482.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益MLIOII
| Q1 26 | — | $1.1B | ||
| Q4 25 | $3.2B | $1.1B | ||
| Q3 25 | $3.1B | $907.7M | ||
| Q2 25 | $2.9B | $842.1M | ||
| Q1 25 | $2.7B | $773.1M | ||
| Q4 24 | $2.8B | $714.3M | ||
| Q3 24 | $2.7B | $698.0M | ||
| Q2 24 | $2.5B | $651.0M |
总资产MLIOII
| Q1 26 | — | $2.6B | ||
| Q4 25 | $3.7B | $2.7B | ||
| Q3 25 | $3.7B | $2.5B | ||
| Q2 25 | $3.5B | $2.3B | ||
| Q1 25 | $3.2B | $2.3B | ||
| Q4 24 | $3.3B | $2.3B | ||
| Q3 24 | $3.2B | $2.4B | ||
| Q2 24 | $3.1B | $2.3B |
负债/权益比MLIOII
| Q1 26 | — | 0.44× | ||
| Q4 25 | — | 0.46× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | — | ||
| Q2 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 | $141.2M | — |
| 自由现金流经营现金流 - 资本支出 | $121.4M | $-76.5M |
| 自由现金流率自由现金流/营收 | 12.6% | -11.1% |
| 资本支出强度资本支出/营收 | 2.1% | 2.5% |
| 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 | $238.1M |
8季度趋势，按日历期对齐
经营现金流MLIOII
| Q1 26 | — | — | ||
| Q4 25 | $141.2M | $221.1M | ||
| Q3 25 | $310.1M | $101.3M | ||
| Q2 25 | $190.6M | $77.2M | ||
| Q1 25 | $113.6M | $-80.7M | ||
| Q4 24 | $140.1M | $128.4M | ||
| Q3 24 | $231.4M | $91.9M | ||
| Q2 24 | $100.8M | $52.6M |
自由现金流MLIOII
| Q1 26 | — | $-76.5M | ||
| Q4 25 | $121.4M | $190.7M | ||
| Q3 25 | $291.8M | $77.0M | ||
| Q2 25 | $176.5M | $46.9M | ||
| Q1 25 | $97.0M | $-106.8M | ||
| Q4 24 | $111.2M | $94.5M | ||
| Q3 24 | $205.7M | $67.0M | ||
| Q2 24 | $91.6M | $29.8M |
自由现金流率MLIOII
| Q1 26 | — | -11.1% | ||
| Q4 25 | 12.6% | 28.5% | ||
| Q3 25 | 27.1% | 10.4% | ||
| Q2 25 | 15.5% | 6.7% | ||
| Q1 25 | 9.7% | -15.8% | ||
| Q4 24 | 12.0% | 13.2% | ||
| Q3 24 | 20.6% | 9.9% | ||
| Q2 24 | 9.2% | 4.5% |
资本支出强度MLIOII
| Q1 26 | — | 2.5% | ||
| Q4 25 | 2.1% | 4.6% | ||
| Q3 25 | 1.7% | 3.3% | ||
| Q2 25 | 1.2% | 4.3% | ||
| Q1 25 | 1.7% | 3.9% | ||
| Q4 24 | 3.1% | 4.7% | ||
| Q3 24 | 2.6% | 3.7% | ||
| Q2 24 | 0.9% | 3.4% |
现金转化率MLIOII
| Q1 26 | — | — | ||
| Q4 25 | 0.92× | 1.24× | ||
| Q3 25 | 1.49× | 1.42× | ||
| Q2 25 | 0.78× | 1.42× | ||
| Q1 25 | 0.72× | -1.60× | ||
| Q4 24 | 1.02× | 2.29× | ||
| Q3 24 | 1.37× | 2.23× | ||
| Q2 24 | 0.63× | 1.50× |
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% |
OII
| Backlog at end of period | $492.0M | 71% |
| Other | $162.8M | 24% |
| ROV days available | $22.5M | 3% |
| ROV days utilized | $15.1M | 2% |
