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MUELLER INDUSTRIES INC（MLI）与Primoris Services Corp（PRIM）财务数据对比。点击上方公司名可切换其他公司
Primoris Services Corp的季度营收约是MUELLER INDUSTRIES INC的1.9倍（$1.9B vs $962.4M），MUELLER INDUSTRIES INC净利率更高（16.0% vs 2.8%，领先13.2%），Primoris Services Corp同比增速更快（6.7% vs 4.2%），MUELLER INDUSTRIES INC自由现金流更多（$121.4M vs $121.1M），过去两年Primoris Services Corp的营收复合增速更高（14.7% vs 6.4%）
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。
Primoris Services Corp是总部位于美国的上市专业基建与工程建设企业，核心业务覆盖天然气管道、污水管网及供水管道建设领域，2014年入选《财富》1000强榜单，在北美能源及民生基建领域拥有丰富的项目运营经验。
MLI vs PRIM — 直观对比
营收规模更大
PRIM
是对方的1.9倍
$962.4M
营收增速更快
PRIM
高出2.5%
4.2%
净利率更高
MLI
高出13.2%
2.8%
自由现金流更多
MLI
多$247.0K
$121.1M
两年增速更快
PRIM
近两年复合增速
6.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $962.4M | $1.9B |
| 净利润 | $153.7M | $51.7M |
| 毛利率 | — | 9.4% |
| 营业利润率 | 17.9% | 4.2% |
| 净利率 | 16.0% | 2.8% |
| 营收同比 | 4.2% | 6.7% |
| 净利润同比 | 11.7% | -4.2% |
| 每股收益（稀释后） | $1.37 | $0.94 |
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MLIPRIM
| Q4 25 | $962.4M | $1.9B | ||
| Q3 25 | $1.1B | $2.2B | ||
| Q2 25 | $1.1B | $1.9B | ||
| Q1 25 | $1.0B | $1.6B | ||
| Q4 24 | $923.5M | $1.7B | ||
| Q3 24 | $997.8M | $1.6B | ||
| Q2 24 | $997.7M | $1.6B | ||
| Q1 24 | $849.7M | $1.4B |
净利润MLIPRIM
| Q4 25 | $153.7M | $51.7M | ||
| Q3 25 | $208.1M | $94.6M | ||
| Q2 25 | $245.9M | $84.3M | ||
| Q1 25 | $157.4M | $44.2M | ||
| Q4 24 | $137.7M | $54.0M | ||
| Q3 24 | $168.7M | $58.4M | ||
| Q2 24 | $160.2M | $49.5M | ||
| Q1 24 | $138.4M | $18.9M |
毛利率MLIPRIM
| Q4 25 | — | 9.4% | ||
| Q3 25 | — | 10.8% | ||
| Q2 25 | — | 12.3% | ||
| Q1 25 | — | 10.4% | ||
| Q4 24 | — | 10.6% | ||
| Q3 24 | 27.6% | 12.0% | ||
| Q2 24 | 27.3% | 11.9% | ||
| Q1 24 | 28.4% | 9.4% |
营业利润率MLIPRIM
| Q4 25 | 17.9% | 4.2% | ||
| Q3 25 | 25.6% | 6.3% | ||
| Q2 25 | 26.7% | 6.7% | ||
| Q1 25 | 20.6% | 4.3% | ||
| Q4 24 | 18.4% | 5.0% | ||
| Q3 24 | 20.7% | 6.0% | ||
| Q2 24 | 21.0% | 5.5% | ||
| Q1 24 | 21.6% | 3.1% |
净利率MLIPRIM
| Q4 25 | 16.0% | 2.8% | ||
| Q3 25 | 19.3% | 4.3% | ||
| Q2 25 | 21.6% | 4.5% | ||
| Q1 25 | 15.7% | 2.7% | ||
| Q4 24 | 14.9% | 3.1% | ||
| Q3 24 | 16.9% | 3.5% | ||
| Q2 24 | 16.1% | 3.2% | ||
| Q1 24 | 16.3% | 1.3% |
每股收益（稀释后）MLIPRIM
| Q4 25 | $1.37 | $0.94 | ||
| Q3 25 | $1.88 | $1.73 | ||
| Q2 25 | $2.22 | $1.54 | ||
| Q1 25 | $1.39 | $0.81 | ||
| Q4 24 | $1.21 | $0.98 | ||
| Q3 24 | $1.48 | $1.07 | ||
| Q2 24 | $1.41 | $0.91 | ||
| Q1 24 | $1.21 | $0.35 |
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 | $535.5M |
| 总债务越低越好 | — | $469.9M |
| 股东权益账面价值 | $3.2B | $1.7B |
| 总资产 | $3.7B | $4.4B |
| 负债/权益比越低杠杆越低 | — | 0.28× |
8季度趋势，按日历期对齐
现金及短期投资MLIPRIM
| Q4 25 | $1.4B | $535.5M | ||
| Q3 25 | $1.3B | $431.4M | ||
| Q2 25 | $1.1B | $390.3M | ||
| Q1 25 | $873.6M | $351.6M | ||
| Q4 24 | $1.1B | $455.8M | ||
| Q3 24 | $969.6M | $352.7M | ||
| Q2 24 | $825.7M | $207.4M | ||
| Q1 24 | $1.4B | $177.6M |
总债务MLIPRIM
| Q4 25 | — | $469.9M | ||
| Q3 25 | — | $486.0M | ||
| Q2 25 | — | $603.1M | ||
| Q1 25 | — | $612.0M | ||
| Q4 24 | — | $734.8M | ||
| Q3 24 | — | $903.7M | ||
| Q2 24 | — | $933.0M | ||
| Q1 24 | — | $951.7M |
股东权益MLIPRIM
| Q4 25 | $3.2B | $1.7B | ||
| Q3 25 | $3.1B | $1.6B | ||
| Q2 25 | $2.9B | $1.5B | ||
| Q1 25 | $2.7B | $1.4B | ||
| Q4 24 | $2.8B | $1.4B | ||
| Q3 24 | $2.7B | $1.4B | ||
| Q2 24 | $2.5B | $1.3B | ||
| Q1 24 | $2.4B | $1.2B |
总资产MLIPRIM
| Q4 25 | $3.7B | $4.4B | ||
| Q3 25 | $3.7B | $4.6B | ||
| Q2 25 | $3.5B | $4.5B | ||
| Q1 25 | $3.2B | $4.2B | ||
| Q4 24 | $3.3B | $4.2B | ||
| Q3 24 | $3.2B | $4.2B | ||
| Q2 24 | $3.1B | $4.0B | ||
| Q1 24 | $2.9B | $4.0B |
负债/权益比MLIPRIM
| Q4 25 | — | 0.28× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 0.39× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.72× | ||
| Q1 24 | — | 0.76× |
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 | $142.9M |
| 自由现金流经营现金流 - 资本支出 | $121.4M | $121.1M |
| 自由现金流率自由现金流/营收 | 12.6% | 6.5% |
| 资本支出强度资本支出/营收 | 2.1% | 1.2% |
| 现金转化率经营现金流/净利润 | 0.92× | 2.76× |
| 过去12个月自由现金流最近4个季度 | $686.6M | $340.5M |
8季度趋势，按日历期对齐
经营现金流MLIPRIM
| Q4 25 | $141.2M | $142.9M | ||
| Q3 25 | $310.1M | $182.9M | ||
| Q2 25 | $190.6M | $78.5M | ||
| Q1 25 | $113.6M | $66.2M | ||
| Q4 24 | $140.1M | $298.3M | ||
| Q3 24 | $231.4M | $222.5M | ||
| Q2 24 | $100.8M | $16.1M | ||
| Q1 24 | $173.6M | $-28.5M |
自由现金流MLIPRIM
| Q4 25 | $121.4M | $121.1M | ||
| Q3 25 | $291.8M | $148.4M | ||
| Q2 25 | $176.5M | $45.3M | ||
| Q1 25 | $97.0M | $25.6M | ||
| Q4 24 | $111.2M | $270.0M | ||
| Q3 24 | $205.7M | $158.8M | ||
| Q2 24 | $91.6M | $-8.1M | ||
| Q1 24 | $157.2M | $-38.9M |
自由现金流率MLIPRIM
| Q4 25 | 12.6% | 6.5% | ||
| Q3 25 | 27.1% | 6.8% | ||
| Q2 25 | 15.5% | 2.4% | ||
| Q1 25 | 9.7% | 1.6% | ||
| Q4 24 | 12.0% | 15.5% | ||
| Q3 24 | 20.6% | 9.6% | ||
| Q2 24 | 9.2% | -0.5% | ||
| Q1 24 | 18.5% | -2.8% |
资本支出强度MLIPRIM
| Q4 25 | 2.1% | 1.2% | ||
| Q3 25 | 1.7% | 1.6% | ||
| Q2 25 | 1.2% | 1.8% | ||
| Q1 25 | 1.7% | 2.5% | ||
| Q4 24 | 3.1% | 1.6% | ||
| Q3 24 | 2.6% | 3.9% | ||
| Q2 24 | 0.9% | 1.5% | ||
| Q1 24 | 1.9% | 0.7% |
现金转化率MLIPRIM
| Q4 25 | 0.92× | 2.76× | ||
| Q3 25 | 1.49× | 1.93× | ||
| Q2 25 | 0.78× | 0.93× | ||
| Q1 25 | 0.72× | 1.50× | ||
| Q4 24 | 1.02× | 5.53× | ||
| Q3 24 | 1.37× | 3.81× | ||
| Q2 24 | 0.63× | 0.32× | ||
| Q1 24 | 1.25× | -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% |
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
