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Martin Marietta Materials（MLM）与EPLUS INC（PLUS）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EPLUS INC的1.9倍（$1.1B vs $614.8M），Martin Marietta Materials净利率更高（24.5% vs 5.7%，领先18.8%），EPLUS INC同比增速更快（20.3% vs -30.1%），过去两年EPLUS INC的营收复合增速更高（2.3% 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。
ePlus Inc.是美国的科技咨询解决方案提供商，业务覆盖网络安全、云计算、网络架构、协作办公、人工智能及前沿技术领域，为超5000家客户提供定制化解决方案、专业咨询与托管服务，助力企业实现数字化转型与技术升级。
MLM vs PLUS — 直观对比
营收规模更大
MLM
是对方的1.9倍
$614.8M
营收增速更快
PLUS
高出50.5%
-30.1%
净利率更高
MLM
高出18.8%
5.7%
两年增速更快
PLUS
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $614.8M |
| 净利润 | $279.0M | $35.1M |
| 毛利率 | 35.0% | 25.8% |
| 营业利润率 | 24.6% | 7.1% |
| 净利率 | 24.5% | 5.7% |
| 营收同比 | -30.1% | 20.3% |
| 净利润同比 | -4.8% | 45.2% |
| 每股收益（稀释后） | $4.59 | $1.33 |
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MLMPLUS
| Q4 25 | $1.1B | $614.8M | ||
| Q3 25 | $1.8B | $608.8M | ||
| Q2 25 | $1.8B | $637.3M | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.6B | $493.2M | ||
| Q3 24 | $1.9B | $493.4M | ||
| Q2 24 | $1.8B | $535.7M | ||
| Q1 24 | $1.3B | — |
净利润MLMPLUS
| Q4 25 | $279.0M | $35.1M | ||
| Q3 25 | $414.0M | $34.9M | ||
| Q2 25 | $328.0M | $37.7M | ||
| Q1 25 | $116.0M | — | ||
| Q4 24 | $293.0M | $24.1M | ||
| Q3 24 | $363.0M | $31.3M | ||
| Q2 24 | $294.0M | $27.3M | ||
| Q1 24 | $1.0B | — |
毛利率MLMPLUS
| Q4 25 | 35.0% | 25.8% | ||
| Q3 25 | 33.1% | 26.6% | ||
| Q2 25 | 30.0% | 23.3% | ||
| Q1 25 | 24.8% | — | ||
| Q4 24 | 30.0% | 25.4% | ||
| Q3 24 | 31.7% | 25.8% | ||
| Q2 24 | 29.3% | 23.7% | ||
| Q1 24 | 21.7% | — |
营业利润率MLMPLUS
| Q4 25 | 24.6% | 7.1% | ||
| Q3 25 | 27.4% | 8.0% | ||
| Q2 25 | 25.3% | 5.7% | ||
| Q1 25 | 14.3% | — | ||
| Q4 24 | 24.4% | 3.3% | ||
| Q3 24 | 25.9% | 5.5% | ||
| Q2 24 | 22.6% | 5.9% | ||
| Q1 24 | — | — |
净利率MLMPLUS
| Q4 25 | 24.5% | 5.7% | ||
| Q3 25 | 22.4% | 5.7% | ||
| Q2 25 | 18.1% | 5.9% | ||
| Q1 25 | 8.6% | — | ||
| Q4 24 | 18.0% | 4.9% | ||
| Q3 24 | 19.2% | 6.3% | ||
| Q2 24 | 16.7% | 5.1% | ||
| Q1 24 | 83.5% | — |
每股收益（稀释后）MLMPLUS
| Q4 25 | $4.59 | $1.33 | ||
| Q3 25 | $6.85 | $1.32 | ||
| Q2 25 | $5.43 | $1.43 | ||
| Q1 25 | $1.90 | — | ||
| Q4 24 | $4.87 | $0.91 | ||
| Q3 24 | $5.91 | $1.17 | ||
| Q2 24 | $4.76 | $1.02 | ||
| Q1 24 | $16.87 | — |
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 | $326.3M |
| 总债务越低越好 | $5.3B | — |
| 股东权益账面价值 | $10.0B | $1.1B |
| 总资产 | $18.7B | $1.8B |
| 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MLMPLUS
| Q4 25 | $67.0M | $326.3M | ||
| Q3 25 | $57.0M | $402.2M | ||
| Q2 25 | $225.0M | $480.2M | ||
| Q1 25 | $101.0M | — | ||
| Q4 24 | $670.0M | $253.1M | ||
| Q3 24 | $52.0M | $187.5M | ||
| Q2 24 | $109.0M | $349.9M | ||
| Q1 24 | $2.6B | — |
总债务MLMPLUS
| 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MLMPLUS
| Q4 25 | $10.0B | $1.1B | ||
| Q3 25 | $9.7B | $1.0B | ||
| Q2 25 | $9.4B | $1.0B | ||
| Q1 25 | $9.1B | — | ||
| Q4 24 | $9.5B | $962.3M | ||
| Q3 24 | $9.2B | $947.0M | ||
| Q2 24 | $8.8B | $921.9M | ||
| Q1 24 | $8.9B | — |
总资产MLMPLUS
| Q4 25 | $18.7B | $1.8B | ||
| Q3 25 | $18.7B | $1.8B | ||
| Q2 25 | $18.1B | $1.8B | ||
| Q1 25 | $17.7B | — | ||
| Q4 24 | $18.2B | $1.8B | ||
| Q3 24 | $16.5B | $1.7B | ||
| Q2 24 | $16.3B | $1.7B | ||
| Q1 24 | $16.2B | — |
负债/权益比MLMPLUS
| 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 | $-87.4M |
| 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× | -2.49× |
| 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MLMPLUS
| Q4 25 | $629.0M | $-87.4M | ||
| Q3 25 | $551.0M | $-34.8M | ||
| Q2 25 | $387.0M | $-99.0M | ||
| Q1 25 | $218.0M | — | ||
| Q4 24 | $686.0M | $65.7M | ||
| Q3 24 | $600.0M | $-21.6M | ||
| Q2 24 | $1.0M | $97.1M | ||
| Q1 24 | $172.0M | — |
自由现金流MLMPLUS
| 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MLMPLUS
| 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MLMPLUS
| 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MLMPLUS
| Q4 25 | 2.25× | -2.49× | ||
| Q3 25 | 1.33× | -1.00× | ||
| Q2 25 | 1.18× | -2.63× | ||
| Q1 25 | 1.88× | — | ||
| Q4 24 | 2.34× | 2.72× | ||
| Q3 24 | 1.65× | -0.69× | ||
| Q2 24 | 0.00× | 3.55× | ||
| Q1 24 | 0.16× | — |
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% |
PLUS
| All Others Customer End Market | $107.0M | 17% |
| Technology Customer End Market | $89.4M | 15% |
| Health Care Customer End Market | $81.5M | 13% |
| Financial Services Customer End Market | $66.1M | 11% |
| Professional Services Reporting Unit | $64.1M | 10% |
| Security | $61.1M | 10% |
| State And Local Government And Educational Institutions | $59.9M | 10% |
| Managed Services Reporting Unit | $48.8M | 8% |
| Other Product | $21.1M | 3% |
| Collaboration | $13.4M | 2% |
