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MUELLER INDUSTRIES INC（MLI）与ADVANCED DRAINAGE SYSTEMS, INC.（WMS）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ADVANCED DRAINAGE SYSTEMS, INC.的1.4倍（$962.4M vs $693.4M），MUELLER INDUSTRIES INC净利率更高（16.0% vs 13.5%，领先2.5%），MUELLER INDUSTRIES INC同比增速更快（4.2% vs 0.4%），ADVANCED DRAINAGE SYSTEMS, INC.自由现金流更多（$183.6M vs $121.4M），过去两年MUELLER INDUSTRIES INC的营收复合增速更高（6.4% vs 3.0%）
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。
Advanced Drainage Systems（简称ADS）是一家美国企业，主营聚丙烯、聚乙烯管材，塑料渗滤场系统、化粪池及配套配件、雨水调蓄设施、PVC排水构件、管件、水过滤与分离设备的设计、生产及销售，是美国规模最大的高密度聚乙烯管道生产商，总部位于俄亥俄州希利厄德。
MLI vs WMS — 直观对比
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $962.4M | $693.4M |
| 净利润 | $153.7M | $93.6M |
| 毛利率 | — | 37.4% |
| 营业利润率 | 17.9% | 19.7% |
| 净利率 | 16.0% | 13.5% |
| 营收同比 | 4.2% | 0.4% |
| 净利润同比 | 11.7% | 15.3% |
| 每股收益（稀释后） | $1.37 | $1.19 |
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
| Q4 25 | $962.4M | $693.4M | ||
| Q3 25 | $1.1B | $850.4M | ||
| Q2 25 | $1.1B | $829.9M | ||
| Q1 25 | $1.0B | $615.8M | ||
| Q4 24 | $923.5M | $690.5M | ||
| Q3 24 | $997.8M | $782.6M | ||
| Q2 24 | $997.7M | $815.3M | ||
| Q1 24 | $849.7M | $653.8M |
| Q4 25 | $153.7M | $93.6M | ||
| Q3 25 | $208.1M | $156.0M | ||
| Q2 25 | $245.9M | $143.9M | ||
| Q1 25 | $157.4M | $77.2M | ||
| Q4 24 | $137.7M | $81.2M | ||
| Q3 24 | $168.7M | $130.4M | ||
| Q2 24 | $160.2M | $161.4M | ||
| Q1 24 | $138.4M | $94.8M |
| Q4 25 | — | 37.4% | ||
| Q3 25 | — | 40.0% | ||
| Q2 25 | — | 39.8% | ||
| Q1 25 | — | 36.7% | ||
| Q4 24 | — | 35.0% | ||
| Q3 24 | 27.6% | 37.6% | ||
| Q2 24 | 27.3% | 40.8% | ||
| Q1 24 | 28.4% | 38.5% |
| Q4 25 | 17.9% | 19.7% | ||
| Q3 25 | 25.6% | 26.3% | ||
| Q2 25 | 26.7% | 24.8% | ||
| Q1 25 | 20.6% | 19.0% | ||
| Q4 24 | 18.4% | 18.4% | ||
| Q3 24 | 20.7% | 23.9% | ||
| Q2 24 | 21.0% | 27.7% | ||
| Q1 24 | 21.6% | 20.7% |
| Q4 25 | 16.0% | 13.5% | ||
| Q3 25 | 19.3% | 18.3% | ||
| Q2 25 | 21.6% | 17.3% | ||
| Q1 25 | 15.7% | 12.5% | ||
| Q4 24 | 14.9% | 11.8% | ||
| Q3 24 | 16.9% | 16.7% | ||
| Q2 24 | 16.1% | 19.8% | ||
| Q1 24 | 16.3% | 14.5% |
| Q4 25 | $1.37 | $1.19 | ||
| Q3 25 | $1.88 | $1.99 | ||
| Q2 25 | $2.22 | $1.84 | ||
| Q1 25 | $1.39 | $0.99 | ||
| Q4 24 | $1.21 | $1.04 | ||
| Q3 24 | $1.48 | $1.67 | ||
| Q2 24 | $1.41 | $2.06 | ||
| Q1 24 | $1.21 | $1.22 |
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 | $1.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.2B | $1.9B |
| 总资产 | $3.7B | $4.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $1.4B | $1.0B | ||
| Q3 25 | $1.3B | $812.9M | ||
| Q2 25 | $1.1B | $638.3M | ||
| Q1 25 | $873.6M | $463.3M | ||
| Q4 24 | $1.1B | $488.9M | ||
| Q3 24 | $969.6M | $613.0M | ||
| Q2 24 | $825.7M | $541.6M | ||
| Q1 24 | $1.4B | $490.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.3B |
| Q4 25 | $3.2B | $1.9B | ||
| Q3 25 | $3.1B | $1.8B | ||
| Q2 25 | $2.9B | $1.7B | ||
| Q1 25 | $2.7B | $1.5B | ||
| Q4 24 | $2.8B | $1.5B | ||
| Q3 24 | $2.7B | $1.4B | ||
| Q2 24 | $2.5B | $1.3B | ||
| Q1 24 | $2.4B | $1.2B |
| Q4 25 | $3.7B | $4.1B | ||
| Q3 25 | $3.7B | $4.1B | ||
| Q2 25 | $3.5B | $3.9B | ||
| Q1 25 | $3.2B | $3.7B | ||
| Q4 24 | $3.3B | $3.6B | ||
| Q3 24 | $3.2B | $3.5B | ||
| Q2 24 | $3.1B | $3.4B | ||
| Q1 24 | $2.9B | $3.3B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.11× |
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 | $269.3M |
| 自由现金流经营现金流 - 资本支出 | $121.4M | $183.6M |
| 自由现金流率自由现金流/营收 | 12.6% | 26.5% |
| 资本支出强度资本支出/营收 | 2.1% | 12.4% |
| 现金转化率经营现金流/净利润 | 0.92× | 2.88× |
| 过去12个月自由现金流最近4个季度 | $686.6M | $577.1M |
8季度趋势，按日历期对齐
| Q4 25 | $141.2M | $269.3M | ||
| Q3 25 | $310.1M | $234.9M | ||
| Q2 25 | $190.6M | $275.0M | ||
| Q1 25 | $113.6M | $41.2M | ||
| Q4 24 | $140.1M | $189.9M | ||
| Q3 24 | $231.4M | $166.9M | ||
| Q2 24 | $100.8M | $183.4M | ||
| Q1 24 | $173.6M | $17.7M |
| Q4 25 | $121.4M | $183.6M | ||
| Q3 25 | $291.8M | $176.4M | ||
| Q2 25 | $176.5M | $222.4M | ||
| Q1 25 | $97.0M | $-5.3M | ||
| Q4 24 | $111.2M | $135.7M | ||
| Q3 24 | $205.7M | $112.4M | ||
| Q2 24 | $91.6M | $125.7M | ||
| Q1 24 | $157.2M | $-29.8M |
| Q4 25 | 12.6% | 26.5% | ||
| Q3 25 | 27.1% | 20.7% | ||
| Q2 25 | 15.5% | 26.8% | ||
| Q1 25 | 9.7% | -0.9% | ||
| Q4 24 | 12.0% | 19.7% | ||
| Q3 24 | 20.6% | 14.4% | ||
| Q2 24 | 9.2% | 15.4% | ||
| Q1 24 | 18.5% | -4.6% |
| Q4 25 | 2.1% | 12.4% | ||
| Q3 25 | 1.7% | 6.9% | ||
| Q2 25 | 1.2% | 6.3% | ||
| Q1 25 | 1.7% | 7.6% | ||
| Q4 24 | 3.1% | 7.9% | ||
| Q3 24 | 2.6% | 7.0% | ||
| Q2 24 | 0.9% | 7.1% | ||
| Q1 24 | 1.9% | 7.3% |
| Q4 25 | 0.92× | 2.88× | ||
| Q3 25 | 1.49× | 1.51× | ||
| Q2 25 | 0.78× | 1.91× | ||
| Q1 25 | 0.72× | 0.53× | ||
| Q4 24 | 1.02× | 2.34× | ||
| Q3 24 | 1.37× | 1.28× | ||
| Q2 24 | 0.63× | 1.14× | ||
| Q1 24 | 1.25× | 0.19× |
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% |
WMS
| Reportable Segment Aggregation Before Other Operating Segment | $557.3M | 80% |
| Other | $85.5M | 12% |
| Pipe | $35.5M | 5% |
| Allied Products And Other | $15.0M | 2% |
