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Martin Marietta Materials（MLM）与摩丁制造（MOD）财务数据对比。点击上方公司名可切换其他公司
Martin Marietta Materials的季度营收约是摩丁制造的1.4倍（$1.1B vs $805.0M），Martin Marietta Materials净利率更高（24.5% vs -5.9%，领先30.4%），摩丁制造同比增速更快（30.5% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $-17.1M），过去两年摩丁制造的营收复合增速更高（15.5% 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。
摩丁制造是1916年成立于美国的热管理企业。创始人亚瑟·B·摩丁获拖拉机Spirex散热器专利后创立公司，曾为福特T型车生产Turbotube散热器，1941年在威斯康星州拉辛建成全球首个车用风洞，二战期间为P-51野马战斗机供应后冷却器。
MLM vs MOD — 直观对比
营收规模更大
MLM
是对方的1.4倍
$805.0M
营收增速更快
MOD
高出60.7%
-30.1%
净利率更高
MLM
高出30.4%
-5.9%
自由现金流更多
MLM
多$441.1M
$-17.1M
两年增速更快
MOD
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $805.0M |
| 净利润 | $279.0M | $-47.4M |
| 毛利率 | 35.0% | 23.1% |
| 营业利润率 | 24.6% | 11.1% |
| 净利率 | 24.5% | -5.9% |
| 营收同比 | -30.1% | 30.5% |
| 净利润同比 | -4.8% | -215.6% |
| 每股收益（稀释后） | $4.59 | $-0.90 |
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MLMMOD
| Q4 25 | $1.1B | $805.0M | ||
| Q3 25 | $1.8B | $738.9M | ||
| Q2 25 | $1.8B | $682.8M | ||
| Q1 25 | $1.4B | $647.2M | ||
| Q4 24 | $1.6B | $616.8M | ||
| Q3 24 | $1.9B | $658.0M | ||
| Q2 24 | $1.8B | $661.5M | ||
| Q1 24 | $1.3B | $603.5M |
净利润MLMMOD
| Q4 25 | $279.0M | $-47.4M | ||
| Q3 25 | $414.0M | $44.4M | ||
| Q2 25 | $328.0M | $51.2M | ||
| Q1 25 | $116.0M | $49.6M | ||
| Q4 24 | $293.0M | $41.0M | ||
| Q3 24 | $363.0M | $46.1M | ||
| Q2 24 | $294.0M | $47.3M | ||
| Q1 24 | $1.0B | $25.8M |
毛利率MLMMOD
| Q4 25 | 35.0% | 23.1% | ||
| Q3 25 | 33.1% | 22.3% | ||
| Q2 25 | 30.0% | 24.2% | ||
| Q1 25 | 24.8% | 25.6% | ||
| Q4 24 | 30.0% | 24.3% | ||
| Q3 24 | 31.7% | 25.2% | ||
| Q2 24 | 29.3% | 24.6% | ||
| Q1 24 | 21.7% | 22.4% |
营业利润率MLMMOD
| Q4 25 | 24.6% | 11.1% | ||
| Q3 25 | 27.4% | 9.9% | ||
| Q2 25 | 25.3% | 11.1% | ||
| Q1 25 | 14.3% | 11.5% | ||
| Q4 24 | 24.4% | 9.6% | ||
| Q3 24 | 25.9% | 11.4% | ||
| Q2 24 | 22.6% | 11.2% | ||
| Q1 24 | — | 7.8% |
净利率MLMMOD
| Q4 25 | 24.5% | -5.9% | ||
| Q3 25 | 22.4% | 6.0% | ||
| Q2 25 | 18.1% | 7.5% | ||
| Q1 25 | 8.6% | 7.7% | ||
| Q4 24 | 18.0% | 6.6% | ||
| Q3 24 | 19.2% | 7.0% | ||
| Q2 24 | 16.7% | 7.2% | ||
| Q1 24 | 83.5% | 4.3% |
每股收益（稀释后）MLMMOD
| Q4 25 | $4.59 | $-0.90 | ||
| Q3 25 | $6.85 | $0.83 | ||
| Q2 25 | $5.43 | $0.95 | ||
| Q1 25 | $1.90 | $0.92 | ||
| Q4 24 | $4.87 | $0.76 | ||
| Q3 24 | $5.91 | $0.86 | ||
| Q2 24 | $4.76 | $0.88 | ||
| Q1 24 | $16.87 | $0.48 |
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 | $98.7M |
| 总债务越低越好 | $5.3B | $570.7M |
| 股东权益账面价值 | $10.0B | $1.1B |
| 总资产 | $18.7B | $2.5B |
| 负债/权益比越低杠杆越低 | 0.53× | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资MLMMOD
| Q4 25 | $67.0M | $98.7M | ||
| Q3 25 | $57.0M | $83.8M | ||
| Q2 25 | $225.0M | $124.5M | ||
| Q1 25 | $101.0M | $71.6M | ||
| Q4 24 | $670.0M | $83.8M | ||
| Q3 24 | $52.0M | $78.6M | ||
| Q2 24 | $109.0M | $72.9M | ||
| Q1 24 | $2.6B | $60.1M |
总债务MLMMOD
| Q4 25 | $5.3B | $570.7M | ||
| Q3 25 | $5.5B | $525.8M | ||
| Q2 25 | $5.4B | $482.1M | ||
| Q1 25 | $5.4B | $296.7M | ||
| Q4 24 | $5.4B | $330.0M | ||
| Q3 24 | $4.0B | $359.1M | ||
| Q2 24 | $4.3B | $405.7M | ||
| Q1 24 | $4.3B | $399.9M |
股东权益MLMMOD
| Q4 25 | $10.0B | $1.1B | ||
| Q3 25 | $9.7B | $1.1B | ||
| Q2 25 | $9.4B | $1.0B | ||
| Q1 25 | $9.1B | $910.2M | ||
| Q4 24 | $9.5B | $855.1M | ||
| Q3 24 | $9.2B | $858.8M | ||
| Q2 24 | $8.8B | $788.4M | ||
| Q1 24 | $8.9B | $747.6M |
总资产MLMMOD
| Q4 25 | $18.7B | $2.5B | ||
| Q3 25 | $18.7B | $2.4B | ||
| Q2 25 | $18.1B | $2.2B | ||
| Q1 25 | $17.7B | $1.9B | ||
| Q4 24 | $18.2B | $1.8B | ||
| Q3 24 | $16.5B | $1.9B | ||
| Q2 24 | $16.3B | $1.9B | ||
| Q1 24 | $16.2B | $1.9B |
负债/权益比MLMMOD
| Q4 25 | 0.53× | 0.51× | ||
| Q3 25 | 0.57× | 0.50× | ||
| Q2 25 | 0.58× | 0.48× | ||
| Q1 25 | 0.60× | 0.33× | ||
| Q4 24 | 0.57× | 0.39× | ||
| Q3 24 | 0.44× | 0.42× | ||
| Q2 24 | 0.49× | 0.51× | ||
| Q1 24 | 0.49× | 0.53× |
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 | $24.7M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $-17.1M |
| 自由现金流率自由现金流/营收 | 37.2% | -2.1% |
| 资本支出强度资本支出/营收 | 18.0% | 5.2% |
| 现金转化率经营现金流/净利润 | 2.25× | — |
| 过去12个月自由现金流最近4个季度 | $978.0M | $-20.3M |
8季度趋势，按日历期对齐
经营现金流MLMMOD
| Q4 25 | $629.0M | $24.7M | ||
| Q3 25 | $551.0M | $1.4M | ||
| Q2 25 | $387.0M | $27.7M | ||
| Q1 25 | $218.0M | $54.8M | ||
| Q4 24 | $686.0M | $60.7M | ||
| Q3 24 | $600.0M | $57.3M | ||
| Q2 24 | $1.0M | $40.5M | ||
| Q1 24 | $172.0M | $39.6M |
自由现金流MLMMOD
| Q4 25 | $424.0M | $-17.1M | ||
| Q3 25 | $361.0M | $-30.5M | ||
| Q2 25 | $208.0M | $200.0K | ||
| Q1 25 | $-15.0M | $27.1M | ||
| Q4 24 | $453.0M | $44.7M | ||
| Q3 24 | $317.0M | $43.8M | ||
| Q2 24 | $-138.0M | $13.7M | ||
| Q1 24 | $-28.0M | $-4.3M |
自由现金流率MLMMOD
| Q4 25 | 37.2% | -2.1% | ||
| Q3 25 | 19.6% | -4.1% | ||
| Q2 25 | 11.5% | 0.0% | ||
| Q1 25 | -1.1% | 4.2% | ||
| Q4 24 | 27.8% | 7.2% | ||
| Q3 24 | 16.8% | 6.7% | ||
| Q2 24 | -7.8% | 2.1% | ||
| Q1 24 | -2.2% | -0.7% |
资本支出强度MLMMOD
| Q4 25 | 18.0% | 5.2% | ||
| Q3 25 | 10.3% | 4.3% | ||
| Q2 25 | 9.9% | 4.0% | ||
| Q1 25 | 17.2% | 4.3% | ||
| Q4 24 | 14.3% | 2.6% | ||
| Q3 24 | 15.0% | 2.1% | ||
| Q2 24 | 7.9% | 4.1% | ||
| Q1 24 | 16.0% | 7.3% |
现金转化率MLMMOD
| Q4 25 | 2.25× | — | ||
| Q3 25 | 1.33× | 0.03× | ||
| Q2 25 | 1.18× | 0.54× | ||
| Q1 25 | 1.88× | 1.10× | ||
| Q4 24 | 2.34× | 1.48× | ||
| Q3 24 | 1.65× | 1.24× | ||
| Q2 24 | 0.00× | 0.86× | ||
| Q1 24 | 0.16× | 1.53× |
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% |
MOD
| Data Centers | $296.9M | 37% |
| Performance Technologies | $266.0M | 33% |
| Hvac Technologies | $107.1M | 13% |
| Air Cooled | $92.4M | 11% |
| Lb White | $25.6M | 3% |
| Climate By Design | $10.2M | 1% |
| Absolutaire | $7.0M | 1% |
