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Martin Marietta Materials（MLM）与MAXIMUS, INC.（MMS）财务数据对比。点击上方公司名可切换其他公司
MAXIMUS, INC.的季度营收约是Martin Marietta Materials的1.2倍（$1.3B vs $1.1B），Martin Marietta Materials净利率更高（24.5% vs 7.0%，领先17.5%），MAXIMUS, INC.同比增速更快（-4.1% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $-250.7M），过去两年MAXIMUS, INC.的营收复合增速更高（-0.1% vs -4.5%）
马丁·玛丽埃塔材料公司是美国大型集料及重型建筑材料供应商，业务覆盖美国26个州、加拿大及加勒比地区，主要为道路、人行道、地基等各类基建项目提供所需原材料。
MAXIMUS是美国一家政府服务企业，业务覆盖美国、加拿大、英国等国家，为医疗补助、联邦医疗保险、医改、就业帮扶、学生贷款服务等各类政府项目提供行政及配套服务。公司总部位于弗吉尼亚州泰森斯，现有员工3.96万名，2024财年营收达53亿美元。
MLM vs MMS — 直观对比
营收规模更大
MMS
是对方的1.2倍
$1.1B
营收增速更快
MMS
高出26.0%
-30.1%
净利率更高
MLM
高出17.5%
7.0%
自由现金流更多
MLM
多$674.7M
$-250.7M
两年增速更快
MMS
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.3B |
| 净利润 | $279.0M | $93.9M |
| 毛利率 | 35.0% | 23.7% |
| 营业利润率 | 24.6% | 10.9% |
| 净利率 | 24.5% | 7.0% |
| 营收同比 | -30.1% | -4.1% |
| 净利润同比 | -4.8% | 128.0% |
| 每股收益（稀释后） | $4.59 | $1.70 |
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MLMMMS
| Q4 25 | $1.1B | $1.3B | ||
| Q3 25 | $1.8B | $1.3B | ||
| Q2 25 | $1.8B | $1.3B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.6B | $1.4B | ||
| Q3 24 | $1.9B | $1.3B | ||
| Q2 24 | $1.8B | $1.3B | ||
| Q1 24 | $1.3B | $1.3B |
净利润MLMMMS
| Q4 25 | $279.0M | $93.9M | ||
| Q3 25 | $414.0M | $75.3M | ||
| Q2 25 | $328.0M | $106.0M | ||
| Q1 25 | $116.0M | $96.6M | ||
| Q4 24 | $293.0M | $41.2M | ||
| Q3 24 | $363.0M | $72.5M | ||
| Q2 24 | $294.0M | $89.8M | ||
| Q1 24 | $1.0B | $80.5M |
毛利率MLMMMS
| Q4 25 | 35.0% | 23.7% | ||
| Q3 25 | 33.1% | 25.3% | ||
| Q2 25 | 30.0% | 26.7% | ||
| Q1 25 | 24.8% | 24.9% | ||
| Q4 24 | 30.0% | 21.5% | ||
| Q3 24 | 31.7% | 22.9% | ||
| Q2 24 | 29.3% | 25.3% | ||
| Q1 24 | 21.7% | 23.6% |
营业利润率MLMMMS
| Q4 25 | 24.6% | 10.9% | ||
| Q3 25 | 27.4% | 9.3% | ||
| Q2 25 | 25.3% | 12.3% | ||
| Q1 25 | 14.3% | 11.2% | ||
| Q4 24 | 24.4% | 6.2% | ||
| Q3 24 | 25.9% | 8.5% | ||
| Q2 24 | 22.6% | 10.8% | ||
| Q1 24 | — | 9.5% |
净利率MLMMMS
| Q4 25 | 24.5% | 7.0% | ||
| Q3 25 | 22.4% | 5.7% | ||
| Q2 25 | 18.1% | 7.9% | ||
| Q1 25 | 8.6% | 7.1% | ||
| Q4 24 | 18.0% | 2.9% | ||
| Q3 24 | 19.2% | 5.5% | ||
| Q2 24 | 16.7% | 6.8% | ||
| Q1 24 | 83.5% | 6.0% |
每股收益（稀释后）MLMMMS
| Q4 25 | $4.59 | $1.70 | ||
| Q3 25 | $6.85 | $1.27 | ||
| Q2 25 | $5.43 | $1.86 | ||
| Q1 25 | $1.90 | $1.69 | ||
| Q4 24 | $4.87 | $0.69 | ||
| Q3 24 | $5.91 | $1.18 | ||
| Q2 24 | $4.76 | $1.46 | ||
| Q1 24 | $16.87 | $1.31 |
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 | $67.0M | $137.6M |
| 总债务越低越好 | $5.3B | — |
| 股东权益账面价值 | $10.0B | $1.7B |
| 总资产 | $18.7B | $4.2B |
| 负债/权益比越低杠杆越低 | 0.53× | — |
8季度趋势，按日历期对齐
现金及短期投资MLMMMS
| Q4 25 | $67.0M | $137.6M | ||
| Q3 25 | $57.0M | $222.4M | ||
| Q2 25 | $225.0M | $59.8M | ||
| Q1 25 | $101.0M | $108.1M | ||
| Q4 24 | $670.0M | $72.7M | ||
| Q3 24 | $52.0M | $183.1M | ||
| Q2 24 | $109.0M | $102.8M | ||
| Q1 24 | $2.6B | $77.4M |
总债务MLMMMS
| Q4 25 | $5.3B | — | ||
| Q3 25 | $5.5B | — | ||
| Q2 25 | $5.4B | — | ||
| Q1 25 | $5.4B | — | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $4.0B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.3B | — |
股东权益MLMMMS
| Q4 25 | $10.0B | $1.7B | ||
| Q3 25 | $9.7B | $1.7B | ||
| Q2 25 | $9.4B | $1.8B | ||
| Q1 25 | $9.1B | $1.7B | ||
| Q4 24 | $9.5B | $1.6B | ||
| Q3 24 | $9.2B | $1.8B | ||
| Q2 24 | $8.8B | $1.8B | ||
| Q1 24 | $8.9B | $1.8B |
总资产MLMMMS
| Q4 25 | $18.7B | $4.2B | ||
| Q3 25 | $18.7B | $4.1B | ||
| Q2 25 | $18.1B | $4.5B | ||
| Q1 25 | $17.7B | $4.2B | ||
| Q4 24 | $18.2B | $4.1B | ||
| Q3 24 | $16.5B | $4.1B | ||
| Q2 24 | $16.3B | $4.0B | ||
| Q1 24 | $16.2B | $4.0B |
负债/权益比MLMMMS
| Q4 25 | 0.53× | — | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.58× | — | ||
| Q1 25 | 0.60× | — | ||
| Q4 24 | 0.57× | — | ||
| Q3 24 | 0.44× | — | ||
| Q2 24 | 0.49× | — | ||
| Q1 24 | 0.49× | — |
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 | $629.0M | $-244.4M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $-250.7M |
| 自由现金流率自由现金流/营收 | 37.2% | -18.6% |
| 资本支出强度资本支出/营收 | 18.0% | 0.5% |
| 现金转化率经营现金流/净利润 | 2.25× | -2.60× |
| 过去12个月自由现金流最近4个季度 | $978.0M | $218.5M |
8季度趋势，按日历期对齐
经营现金流MLMMMS
| Q4 25 | $629.0M | $-244.4M | ||
| Q3 25 | $551.0M | $649.4M | ||
| Q2 25 | $387.0M | $-182.7M | ||
| Q1 25 | $218.0M | $42.7M | ||
| Q4 24 | $686.0M | $-80.0M | ||
| Q3 24 | $600.0M | $163.8M | ||
| Q2 24 | $1.0M | $199.3M | ||
| Q1 24 | $172.0M | $130.5M |
自由现金流MLMMMS
| Q4 25 | $424.0M | $-250.7M | ||
| Q3 25 | $361.0M | $641.8M | ||
| Q2 25 | $208.0M | $-198.2M | ||
| Q1 25 | $-15.0M | $25.5M | ||
| Q4 24 | $453.0M | $-103.0M | ||
| Q3 24 | $317.0M | $131.9M | ||
| Q2 24 | $-138.0M | $164.6M | ||
| Q1 24 | $-28.0M | $105.2M |
自由现金流率MLMMMS
| Q4 25 | 37.2% | -18.6% | ||
| Q3 25 | 19.6% | 48.7% | ||
| Q2 25 | 11.5% | -14.7% | ||
| Q1 25 | -1.1% | 1.9% | ||
| Q4 24 | 27.8% | -7.3% | ||
| Q3 24 | 16.8% | 10.0% | ||
| Q2 24 | -7.8% | 12.5% | ||
| Q1 24 | -2.2% | 7.8% |
资本支出强度MLMMMS
| Q4 25 | 18.0% | 0.5% | ||
| Q3 25 | 10.3% | 0.6% | ||
| Q2 25 | 9.9% | 1.1% | ||
| Q1 25 | 17.2% | 1.3% | ||
| Q4 24 | 14.3% | 1.6% | ||
| Q3 24 | 15.0% | 2.4% | ||
| Q2 24 | 7.9% | 2.6% | ||
| Q1 24 | 16.0% | 1.9% |
现金转化率MLMMMS
| Q4 25 | 2.25× | -2.60× | ||
| Q3 25 | 1.33× | 8.63× | ||
| Q2 25 | 1.18× | -1.72× | ||
| Q1 25 | 1.88× | 0.44× | ||
| Q4 24 | 2.34× | -1.94× | ||
| Q3 24 | 1.65× | 2.26× | ||
| Q2 24 | 0.00× | 2.22× | ||
| Q1 24 | 0.16× | 1.62× |
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
MLM
| Building Materials Business East Group | $774.0M | 68% |
| Building Materials Business West Group | $233.0M | 20% |
| Services | $88.0M | 8% |
| Other | $45.0M | 4% |
MMS
| Clinical Services | $523.7M | 39% |
| Cost Plus Contracts | $386.4M | 29% |
| Outside The United States | $143.2M | 11% |
| International Government Agencies | $141.0M | 10% |
| Technology Solutions | $74.8M | 6% |
| Employment And Other | $70.2M | 5% |
| Other Including Local Municipalities And Commercial Customers | $17.6M | 1% |
