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MUELLER INDUSTRIES INC（MLI）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是MUELLER INDUSTRIES INC的1.3倍（$1.2B vs $962.4M），MUELLER INDUSTRIES INC净利率更高（16.0% vs 9.1%，领先6.9%），利氏兄弟拍卖行同比增速更快（5.4% vs 4.2%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $121.4M），过去两年MUELLER INDUSTRIES INC的营收复合增速更高（6.4% vs 6.3%）
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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
MLI vs RBA — 直观对比
营收规模更大
RBA
是对方的1.3倍
$962.4M
营收增速更快
RBA
高出1.2%
4.2%
净利率更高
MLI
高出6.9%
9.1%
自由现金流更多
RBA
多$65.1M
$121.4M
两年增速更快
MLI
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $962.4M | $1.2B |
| 净利润 | $153.7M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | 17.9% | 14.7% |
| 净利率 | 16.0% | 9.1% |
| 营收同比 | 4.2% | 5.4% |
| 净利润同比 | 11.7% | -7.4% |
| 每股收益（稀释后） | $1.37 | $0.53 |
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MLIRBA
| Q4 25 | $962.4M | $1.2B | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.0B | $1.1B | ||
| Q4 24 | $923.5M | $1.1B | ||
| Q3 24 | $997.8M | $981.8M | ||
| Q2 24 | $997.7M | $1.1B | ||
| Q1 24 | $849.7M | $1.1B |
净利润MLIRBA
| Q4 25 | $153.7M | $109.7M | ||
| Q3 25 | $208.1M | $95.5M | ||
| Q2 25 | $245.9M | $109.8M | ||
| Q1 25 | $157.4M | $113.4M | ||
| Q4 24 | $137.7M | $118.5M | ||
| Q3 24 | $168.7M | $76.1M | ||
| Q2 24 | $160.2M | $111.1M | ||
| Q1 24 | $138.4M | $107.4M |
毛利率MLIRBA
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 27.6% | — | ||
| Q2 24 | 27.3% | — | ||
| Q1 24 | 28.4% | — |
营业利润率MLIRBA
| Q4 25 | 17.9% | 14.7% | ||
| Q3 25 | 25.6% | 14.5% | ||
| Q2 25 | 26.7% | 15.9% | ||
| Q1 25 | 20.6% | 17.1% | ||
| Q4 24 | 18.4% | 18.1% | ||
| Q3 24 | 20.7% | 15.6% | ||
| Q2 24 | 21.0% | 18.4% | ||
| Q1 24 | 21.6% | 18.7% |
净利率MLIRBA
| Q4 25 | 16.0% | 9.1% | ||
| Q3 25 | 19.3% | 8.7% | ||
| Q2 25 | 21.6% | 9.3% | ||
| Q1 25 | 15.7% | 10.2% | ||
| Q4 24 | 14.9% | 10.4% | ||
| Q3 24 | 16.9% | 7.8% | ||
| Q2 24 | 16.1% | 10.1% | ||
| Q1 24 | 16.3% | 10.1% |
每股收益（稀释后）MLIRBA
| Q4 25 | $1.37 | $0.53 | ||
| Q3 25 | $1.88 | $0.43 | ||
| Q2 25 | $2.22 | $0.53 | ||
| Q1 25 | $1.39 | $0.55 | ||
| Q4 24 | $1.21 | $0.58 | ||
| Q3 24 | $1.48 | $0.36 | ||
| Q2 24 | $1.41 | $0.54 | ||
| Q1 24 | $1.21 | $0.53 |
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 | $531.5M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $3.2B | $5.6B |
| 总资产 | $3.7B | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资MLIRBA
| Q4 25 | $1.4B | $531.5M | ||
| Q3 25 | $1.3B | $674.7M | ||
| Q2 25 | $1.1B | $710.2M | ||
| Q1 25 | $873.6M | $578.1M | ||
| Q4 24 | $1.1B | $533.9M | ||
| Q3 24 | $969.6M | $650.7M | ||
| Q2 24 | $825.7M | $599.5M | ||
| Q1 24 | $1.4B | $462.8M |
总债务MLIRBA
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.9B |
股东权益MLIRBA
| Q4 25 | $3.2B | $5.6B | ||
| Q3 25 | $3.1B | $5.5B | ||
| Q2 25 | $2.9B | $5.5B | ||
| Q1 25 | $2.7B | $5.3B | ||
| Q4 24 | $2.8B | $5.2B | ||
| Q3 24 | $2.7B | $5.2B | ||
| Q2 24 | $2.5B | $5.2B | ||
| Q1 24 | $2.4B | $5.1B |
总资产MLIRBA
| Q4 25 | $3.7B | $12.1B | ||
| Q3 25 | $3.7B | $12.2B | ||
| Q2 25 | $3.5B | $12.2B | ||
| Q1 25 | $3.2B | $11.9B | ||
| Q4 24 | $3.3B | $11.8B | ||
| Q3 24 | $3.2B | $11.9B | ||
| Q2 24 | $3.1B | $12.1B | ||
| Q1 24 | $2.9B | $12.0B |
负债/权益比MLIRBA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | — | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $121.4M | $186.5M |
| 自由现金流率自由现金流/营收 | 12.6% | 15.5% |
| 资本支出强度资本支出/营收 | 2.1% | 5.7% |
| 现金转化率经营现金流/净利润 | 0.92× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $686.6M | $719.2M |
8季度趋势，按日历期对齐
经营现金流MLIRBA
| Q4 25 | $141.2M | $255.2M | ||
| Q3 25 | $310.1M | $239.7M | ||
| Q2 25 | $190.6M | $326.5M | ||
| Q1 25 | $113.6M | $156.8M | ||
| Q4 24 | $140.1M | $184.5M | ||
| Q3 24 | $231.4M | $285.4M | ||
| Q2 24 | $100.8M | $337.3M | ||
| Q1 24 | $173.6M | $124.8M |
自由现金流MLIRBA
| Q4 25 | $121.4M | $186.5M | ||
| Q3 25 | $291.8M | $188.5M | ||
| Q2 25 | $176.5M | $241.7M | ||
| Q1 25 | $97.0M | $102.5M | ||
| Q4 24 | $111.2M | $127.9M | ||
| Q3 24 | $205.7M | $248.5M | ||
| Q2 24 | $91.6M | $308.6M | ||
| Q1 24 | $157.2M | $79.6M |
自由现金流率MLIRBA
| Q4 25 | 12.6% | 15.5% | ||
| Q3 25 | 27.1% | 17.3% | ||
| Q2 25 | 15.5% | 20.4% | ||
| Q1 25 | 9.7% | 9.2% | ||
| Q4 24 | 12.0% | 11.2% | ||
| Q3 24 | 20.6% | 25.3% | ||
| Q2 24 | 9.2% | 28.2% | ||
| Q1 24 | 18.5% | 7.5% |
资本支出强度MLIRBA
| Q4 25 | 2.1% | 5.7% | ||
| Q3 25 | 1.7% | 4.7% | ||
| Q2 25 | 1.2% | 7.2% | ||
| Q1 25 | 1.7% | 4.9% | ||
| Q4 24 | 3.1% | 5.0% | ||
| Q3 24 | 2.6% | 3.8% | ||
| Q2 24 | 0.9% | 2.6% | ||
| Q1 24 | 1.9% | 4.2% |
现金转化率MLIRBA
| Q4 25 | 0.92× | 2.33× | ||
| Q3 25 | 1.49× | 2.51× | ||
| Q2 25 | 0.78× | 2.97× | ||
| Q1 25 | 0.72× | 1.38× | ||
| Q4 24 | 1.02× | 1.56× | ||
| Q3 24 | 1.37× | 3.75× | ||
| Q2 24 | 0.63× | 3.04× | ||
| Q1 24 | 1.25× | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
