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Martin Marietta Materials（MLM）与PIPER SANDLER COMPANIES（PIPR）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PIPER SANDLER COMPANIES的1.7倍（$1.1B vs $667.0M），Martin Marietta Materials净利率更高（24.5% vs 17.1%，领先7.4%），PIPER SANDLER COMPANIES同比增速更快（37.4% vs -30.1%），过去两年PIPER SANDLER COMPANIES的营收复合增速更高（39.2% 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。
Piper Sandler是一家美国跨国投资银行及金融服务提供商，核心业务覆盖并购重组、财务重整、公开募股、公共财政、机构经纪、投资管理、证券研究等领域，通过旗下核心子公司Piper Sandler & Co.为企业、机构投资者及公共组织提供专业金融服务。
MLM vs PIPR — 直观对比
营收规模更大
MLM
是对方的1.7倍
$667.0M
营收增速更快
PIPR
高出67.6%
-30.1%
净利率更高
MLM
高出7.4%
17.1%
两年增速更快
PIPR
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $667.0M |
| 净利润 | $279.0M | $114.0M |
| 毛利率 | 35.0% | — |
| 营业利润率 | 24.6% | 28.3% |
| 净利率 | 24.5% | 17.1% |
| 营收同比 | -30.1% | 37.4% |
| 净利润同比 | -4.8% | 65.0% |
| 每股收益（稀释后） | $4.59 | $6.41 |
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MLMPIPR
| Q4 25 | $1.1B | $667.0M | ||
| Q3 25 | $1.8B | $480.1M | ||
| Q2 25 | $1.8B | $398.6M | ||
| Q1 25 | $1.4B | $358.6M | ||
| Q4 24 | $1.6B | $485.4M | ||
| Q3 24 | $1.9B | $360.9M | ||
| Q2 24 | $1.8B | $340.8M | ||
| Q1 24 | $1.3B | $344.4M |
净利润MLMPIPR
| Q4 25 | $279.0M | $114.0M | ||
| Q3 25 | $414.0M | $60.3M | ||
| Q2 25 | $328.0M | $42.2M | ||
| Q1 25 | $116.0M | $64.9M | ||
| Q4 24 | $293.0M | $69.1M | ||
| Q3 24 | $363.0M | $34.8M | ||
| Q2 24 | $294.0M | $34.8M | ||
| Q1 24 | $1.0B | $42.5M |
毛利率MLMPIPR
| Q4 25 | 35.0% | — | ||
| Q3 25 | 33.1% | — | ||
| Q2 25 | 30.0% | — | ||
| Q1 25 | 24.8% | — | ||
| Q4 24 | 30.0% | — | ||
| Q3 24 | 31.7% | — | ||
| Q2 24 | 29.3% | — | ||
| Q1 24 | 21.7% | — |
营业利润率MLMPIPR
| Q4 25 | 24.6% | 28.3% | ||
| Q3 25 | 27.4% | 22.4% | ||
| Q2 25 | 25.3% | 12.3% | ||
| Q1 25 | 14.3% | 8.2% | ||
| Q4 24 | 24.4% | 16.9% | ||
| Q3 24 | 25.9% | 15.4% | ||
| Q2 24 | 22.6% | 8.3% | ||
| Q1 24 | — | 15.2% |
净利率MLMPIPR
| Q4 25 | 24.5% | 17.1% | ||
| Q3 25 | 22.4% | 12.6% | ||
| Q2 25 | 18.1% | 10.6% | ||
| Q1 25 | 8.6% | 18.1% | ||
| Q4 24 | 18.0% | 14.2% | ||
| Q3 24 | 19.2% | 9.6% | ||
| Q2 24 | 16.7% | 10.2% | ||
| Q1 24 | 83.5% | 12.3% |
每股收益（稀释后）MLMPIPR
| Q4 25 | $4.59 | $6.41 | ||
| Q3 25 | $6.85 | $3.38 | ||
| Q2 25 | $5.43 | $2.38 | ||
| Q1 25 | $1.90 | $3.65 | ||
| Q4 24 | $4.87 | $3.88 | ||
| Q3 24 | $5.91 | $1.96 | ||
| Q2 24 | $4.76 | $1.97 | ||
| Q1 24 | $16.87 | $2.43 |
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 | — |
| 总债务越低越好 | $5.3B | — |
| 股东权益账面价值 | $10.0B | $1.4B |
| 总资产 | $18.7B | $2.6B |
| 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MLMPIPR
| Q4 25 | $67.0M | — | ||
| Q3 25 | $57.0M | — | ||
| Q2 25 | $225.0M | — | ||
| Q1 25 | $101.0M | — | ||
| Q4 24 | $670.0M | — | ||
| Q3 24 | $52.0M | — | ||
| Q2 24 | $109.0M | — | ||
| Q1 24 | $2.6B | — |
总债务MLMPIPR
| 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MLMPIPR
| Q4 25 | $10.0B | $1.4B | ||
| Q3 25 | $9.7B | $1.3B | ||
| Q2 25 | $9.4B | $1.2B | ||
| Q1 25 | $9.1B | $1.2B | ||
| Q4 24 | $9.5B | $1.2B | ||
| Q3 24 | $9.2B | $1.2B | ||
| Q2 24 | $8.8B | $1.1B | ||
| Q1 24 | $8.9B | $1.1B |
总资产MLMPIPR
| Q4 25 | $18.7B | $2.6B | ||
| Q3 25 | $18.7B | $2.2B | ||
| Q2 25 | $18.1B | $2.0B | ||
| Q1 25 | $17.7B | $1.8B | ||
| Q4 24 | $18.2B | $2.3B | ||
| Q3 24 | $16.5B | $2.0B | ||
| Q2 24 | $16.3B | $1.9B | ||
| Q1 24 | $16.2B | $1.8B |
负债/权益比MLMPIPR
| 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 | $729.8M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | — |
| 自由现金流率自由现金流/营收 | 37.2% | — |
| 资本支出强度资本支出/营收 | 18.0% | — |
| 现金转化率经营现金流/净利润 | 2.25× | 6.40× |
| 过去12个月自由现金流最近4个季度 | $978.0M | — |
8季度趋势，按日历期对齐
经营现金流MLMPIPR
| Q4 25 | $629.0M | $729.8M | ||
| Q3 25 | $551.0M | $31.9M | ||
| Q2 25 | $387.0M | $32.1M | ||
| Q1 25 | $218.0M | $-207.2M | ||
| Q4 24 | $686.0M | $163.8M | ||
| Q3 24 | $600.0M | $80.1M | ||
| Q2 24 | $1.0M | $266.5M | ||
| Q1 24 | $172.0M | $-197.2M |
自由现金流MLMPIPR
| Q4 25 | $424.0M | — | ||
| Q3 25 | $361.0M | — | ||
| Q2 25 | $208.0M | — | ||
| Q1 25 | $-15.0M | — | ||
| Q4 24 | $453.0M | — | ||
| Q3 24 | $317.0M | — | ||
| Q2 24 | $-138.0M | — | ||
| Q1 24 | $-28.0M | — |
自由现金流率MLMPIPR
| Q4 25 | 37.2% | — | ||
| Q3 25 | 19.6% | — | ||
| Q2 25 | 11.5% | — | ||
| Q1 25 | -1.1% | — | ||
| Q4 24 | 27.8% | — | ||
| Q3 24 | 16.8% | — | ||
| Q2 24 | -7.8% | — | ||
| Q1 24 | -2.2% | — |
资本支出强度MLMPIPR
| Q4 25 | 18.0% | — | ||
| Q3 25 | 10.3% | — | ||
| Q2 25 | 9.9% | — | ||
| Q1 25 | 17.2% | — | ||
| Q4 24 | 14.3% | — | ||
| Q3 24 | 15.0% | — | ||
| Q2 24 | 7.9% | — | ||
| Q1 24 | 16.0% | — |
现金转化率MLMPIPR
| Q4 25 | 2.25× | 6.40× | ||
| Q3 25 | 1.33× | 0.53× | ||
| Q2 25 | 1.18× | 0.76× | ||
| Q1 25 | 1.88× | -3.19× | ||
| Q4 24 | 2.34× | 2.37× | ||
| Q3 24 | 1.65× | 2.30× | ||
| Q2 24 | 0.00× | 7.66× | ||
| Q1 24 | 0.16× | -4.64× |
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% |
PIPR
| Advisory Services | $402.6M | 60% |
| Equities Financing | $66.7M | 10% |
| Equity Salesand Trading | $64.2M | 10% |
| Fixed Income Salesand Trading | $47.9M | 7% |
| Other | $46.7M | 7% |
| Debt Financing | $38.9M | 6% |
