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MUELLER INDUSTRIES INC（MLI）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
思佳讯的季度营收约是MUELLER INDUSTRIES INC的1.1倍（$1.0B vs $962.4M），MUELLER INDUSTRIES INC净利率更高（16.0% vs 7.6%，领先8.3%），思佳讯同比增速更快（8.6% vs 4.2%），思佳讯自由现金流更多（$339.0M vs $121.4M），过去两年MUELLER INDUSTRIES INC的营收复合增速更高（6.4% vs -0.5%）
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。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
MLI vs SWKS — 直观对比
营收规模更大
SWKS
是对方的1.1倍
$962.4M
营收增速更快
SWKS
高出4.4%
4.2%
净利率更高
MLI
高出8.3%
7.6%
自由现金流更多
SWKS
多$217.6M
$121.4M
两年增速更快
MLI
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $962.4M | $1.0B |
| 净利润 | $153.7M | $79.2M |
| 毛利率 | — | 41.3% |
| 营业利润率 | 17.9% | 10.0% |
| 净利率 | 16.0% | 7.6% |
| 营收同比 | 4.2% | 8.6% |
| 净利润同比 | 11.7% | 15.3% |
| 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MLISWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $962.4M | $1.1B | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | $965.0M | ||
| Q1 25 | $1.0B | $953.2M | ||
| Q4 24 | $923.5M | $1.1B | ||
| Q3 24 | $997.8M | $1.0B | ||
| Q2 24 | $997.7M | $905.5M |
净利润MLISWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $153.7M | $141.4M | ||
| Q3 25 | $208.1M | — | ||
| Q2 25 | $245.9M | $105.0M | ||
| Q1 25 | $157.4M | $68.7M | ||
| Q4 24 | $137.7M | $162.0M | ||
| Q3 24 | $168.7M | $60.5M | ||
| Q2 24 | $160.2M | $120.9M |
毛利率MLISWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | — | 40.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 41.6% | ||
| Q1 25 | — | 41.1% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | 27.6% | 41.9% | ||
| Q2 24 | 27.3% | 40.2% |
营业利润率MLISWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | 17.9% | 10.1% | ||
| Q3 25 | 25.6% | — | ||
| Q2 25 | 26.7% | 11.5% | ||
| Q1 25 | 20.6% | 10.2% | ||
| Q4 24 | 18.4% | 16.9% | ||
| Q3 24 | 20.7% | 5.8% | ||
| Q2 24 | 21.0% | 14.4% |
净利率MLISWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | 16.0% | 12.9% | ||
| Q3 25 | 19.3% | — | ||
| Q2 25 | 21.6% | 10.9% | ||
| Q1 25 | 15.7% | 7.2% | ||
| Q4 24 | 14.9% | 15.2% | ||
| Q3 24 | 16.9% | 5.9% | ||
| Q2 24 | 16.1% | 13.4% |
每股收益（稀释后）MLISWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $1.37 | $0.95 | ||
| Q3 25 | $1.88 | — | ||
| Q2 25 | $2.22 | $0.70 | ||
| Q1 25 | $1.39 | $0.43 | ||
| Q4 24 | $1.21 | $1.00 | ||
| Q3 24 | $1.48 | $0.36 | ||
| Q2 24 | $1.41 | $0.75 |
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 | $1.6B |
| 总债务越低越好 | — | $496.6M |
| 股东权益账面价值 | $3.2B | $5.8B |
| 总资产 | $3.7B | $7.9B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资MLISWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.4B | $1.4B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $873.6M | $1.5B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $969.6M | $1.6B | ||
| Q2 24 | $825.7M | $1.3B |
总债务MLISWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | — | $496.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $496.2M | ||
| Q1 25 | — | $995.1M | ||
| Q4 24 | — | $994.7M | ||
| Q3 24 | — | $994.3M | ||
| Q2 24 | — | $994.0M |
股东权益MLISWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $3.2B | $5.8B | ||
| Q3 25 | $3.1B | — | ||
| Q2 25 | $2.9B | $5.7B | ||
| Q1 25 | $2.7B | $5.9B | ||
| Q4 24 | $2.8B | $6.4B | ||
| Q3 24 | $2.7B | $6.3B | ||
| Q2 24 | $2.5B | $6.3B |
总资产MLISWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $3.7B | $7.9B | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $3.5B | $7.7B | ||
| Q1 25 | $3.2B | $7.9B | ||
| Q4 24 | $3.3B | $8.3B | ||
| Q3 24 | $3.2B | $8.3B | ||
| Q2 24 | $3.1B | $8.2B |
负债/权益比MLISWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.09× | ||
| Q1 25 | — | 0.17× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.16× |
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 | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $121.4M | $339.0M |
| 自由现金流率自由现金流/营收 | 12.6% | 32.7% |
| 资本支出强度资本支出/营收 | 2.1% | 5.5% |
| 现金转化率经营现金流/净利润 | 0.92× | 4.99× |
| 过去12个月自由现金流最近4个季度 | $686.6M | $1.1B |
8季度趋势，按日历期对齐
经营现金流MLISWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $141.2M | $200.0M | ||
| Q3 25 | $310.1M | — | ||
| Q2 25 | $190.6M | $314.2M | ||
| Q1 25 | $113.6M | $409.4M | ||
| Q4 24 | $140.1M | $377.2M | ||
| Q3 24 | $231.4M | $476.1M | ||
| Q2 24 | $100.8M | $273.4M |
自由现金流MLISWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $121.4M | $144.0M | ||
| Q3 25 | $291.8M | — | ||
| Q2 25 | $176.5M | $252.7M | ||
| Q1 25 | $97.0M | $370.9M | ||
| Q4 24 | $111.2M | $338.2M | ||
| Q3 24 | $205.7M | $393.3M | ||
| Q2 24 | $91.6M | $249.0M |
自由现金流率MLISWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | 12.6% | 13.1% | ||
| Q3 25 | 27.1% | — | ||
| Q2 25 | 15.5% | 26.2% | ||
| Q1 25 | 9.7% | 38.9% | ||
| Q4 24 | 12.0% | 31.7% | ||
| Q3 24 | 20.6% | 38.4% | ||
| Q2 24 | 9.2% | 27.5% |
资本支出强度MLISWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 2.1% | 5.1% | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 1.2% | 6.4% | ||
| Q1 25 | 1.7% | 4.0% | ||
| Q4 24 | 3.1% | 3.6% | ||
| Q3 24 | 2.6% | 8.1% | ||
| Q2 24 | 0.9% | 2.7% |
现金转化率MLISWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | 0.92× | 1.41× | ||
| Q3 25 | 1.49× | — | ||
| Q2 25 | 0.78× | 2.99× | ||
| Q1 25 | 0.72× | 5.96× | ||
| Q4 24 | 1.02× | 2.33× | ||
| Q3 24 | 1.37× | 7.87× | ||
| Q2 24 | 0.63× | 2.26× |
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% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
