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Martin Marietta Materials（MLM）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是Martin Marietta Materials的1.1倍（$1.2B vs $1.1B），Martin Marietta Materials净利率更高（24.5% vs 9.1%，领先15.4%），利氏兄弟拍卖行同比增速更快（5.4% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $186.5M），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% 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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
MLM vs RBA — 直观对比
营收规模更大
RBA
是对方的1.1倍
$1.1B
营收增速更快
RBA
高出35.6%
-30.1%
净利率更高
MLM
高出15.4%
9.1%
自由现金流更多
MLM
多$237.5M
$186.5M
两年增速更快
RBA
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $279.0M | $109.7M |
| 毛利率 | 35.0% | — |
| 营业利润率 | 24.6% | 14.7% |
| 净利率 | 24.5% | 9.1% |
| 营收同比 | -30.1% | 5.4% |
| 净利润同比 | -4.8% | -7.4% |
| 每股收益（稀释后） | $4.59 | $0.53 |
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MLMRBA
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.8B | $1.1B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.6B | $1.1B | ||
| Q3 24 | $1.9B | $981.8M | ||
| Q2 24 | $1.8B | $1.1B | ||
| Q1 24 | $1.3B | $1.1B |
净利润MLMRBA
| Q4 25 | $279.0M | $109.7M | ||
| Q3 25 | $414.0M | $95.5M | ||
| Q2 25 | $328.0M | $109.8M | ||
| Q1 25 | $116.0M | $113.4M | ||
| Q4 24 | $293.0M | $118.5M | ||
| Q3 24 | $363.0M | $76.1M | ||
| Q2 24 | $294.0M | $111.1M | ||
| Q1 24 | $1.0B | $107.4M |
毛利率MLMRBA
| 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MLMRBA
| Q4 25 | 24.6% | 14.7% | ||
| Q3 25 | 27.4% | 14.5% | ||
| Q2 25 | 25.3% | 15.9% | ||
| Q1 25 | 14.3% | 17.1% | ||
| Q4 24 | 24.4% | 18.1% | ||
| Q3 24 | 25.9% | 15.6% | ||
| Q2 24 | 22.6% | 18.4% | ||
| Q1 24 | — | 18.7% |
净利率MLMRBA
| Q4 25 | 24.5% | 9.1% | ||
| Q3 25 | 22.4% | 8.7% | ||
| Q2 25 | 18.1% | 9.3% | ||
| Q1 25 | 8.6% | 10.2% | ||
| Q4 24 | 18.0% | 10.4% | ||
| Q3 24 | 19.2% | 7.8% | ||
| Q2 24 | 16.7% | 10.1% | ||
| Q1 24 | 83.5% | 10.1% |
每股收益（稀释后）MLMRBA
| Q4 25 | $4.59 | $0.53 | ||
| Q3 25 | $6.85 | $0.43 | ||
| Q2 25 | $5.43 | $0.53 | ||
| Q1 25 | $1.90 | $0.55 | ||
| Q4 24 | $4.87 | $0.58 | ||
| Q3 24 | $5.91 | $0.36 | ||
| Q2 24 | $4.76 | $0.54 | ||
| Q1 24 | $16.87 | $0.53 |
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 | $531.5M |
| 总债务越低越好 | $5.3B | $2.3B |
| 股东权益账面价值 | $10.0B | $5.6B |
| 总资产 | $18.7B | $12.1B |
| 负债/权益比越低杠杆越低 | 0.53× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资MLMRBA
| Q4 25 | $67.0M | $531.5M | ||
| Q3 25 | $57.0M | $674.7M | ||
| Q2 25 | $225.0M | $710.2M | ||
| Q1 25 | $101.0M | $578.1M | ||
| Q4 24 | $670.0M | $533.9M | ||
| Q3 24 | $52.0M | $650.7M | ||
| Q2 24 | $109.0M | $599.5M | ||
| Q1 24 | $2.6B | $462.8M |
总债务MLMRBA
| Q4 25 | $5.3B | $2.3B | ||
| Q3 25 | $5.5B | $2.6B | ||
| Q2 25 | $5.4B | $2.6B | ||
| Q1 25 | $5.4B | $2.6B | ||
| Q4 24 | $5.4B | $2.6B | ||
| Q3 24 | $4.0B | $2.7B | ||
| Q2 24 | $4.3B | $2.8B | ||
| Q1 24 | $4.3B | $2.9B |
股东权益MLMRBA
| Q4 25 | $10.0B | $5.6B | ||
| Q3 25 | $9.7B | $5.5B | ||
| Q2 25 | $9.4B | $5.5B | ||
| Q1 25 | $9.1B | $5.3B | ||
| Q4 24 | $9.5B | $5.2B | ||
| Q3 24 | $9.2B | $5.2B | ||
| Q2 24 | $8.8B | $5.2B | ||
| Q1 24 | $8.9B | $5.1B |
总资产MLMRBA
| Q4 25 | $18.7B | $12.1B | ||
| Q3 25 | $18.7B | $12.2B | ||
| Q2 25 | $18.1B | $12.2B | ||
| Q1 25 | $17.7B | $11.9B | ||
| Q4 24 | $18.2B | $11.8B | ||
| Q3 24 | $16.5B | $11.9B | ||
| Q2 24 | $16.3B | $12.1B | ||
| Q1 24 | $16.2B | $12.0B |
负债/权益比MLMRBA
| Q4 25 | 0.53× | 0.42× | ||
| Q3 25 | 0.57× | 0.47× | ||
| Q2 25 | 0.58× | 0.47× | ||
| Q1 25 | 0.60× | 0.50× | ||
| Q4 24 | 0.57× | 0.50× | ||
| Q3 24 | 0.44× | 0.52× | ||
| Q2 24 | 0.49× | 0.55× | ||
| Q1 24 | 0.49× | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $186.5M |
| 自由现金流率自由现金流/营收 | 37.2% | 15.5% |
| 资本支出强度资本支出/营收 | 18.0% | 5.7% |
| 现金转化率经营现金流/净利润 | 2.25× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $978.0M | $719.2M |
8季度趋势，按日历期对齐
经营现金流MLMRBA
| Q4 25 | $629.0M | $255.2M | ||
| Q3 25 | $551.0M | $239.7M | ||
| Q2 25 | $387.0M | $326.5M | ||
| Q1 25 | $218.0M | $156.8M | ||
| Q4 24 | $686.0M | $184.5M | ||
| Q3 24 | $600.0M | $285.4M | ||
| Q2 24 | $1.0M | $337.3M | ||
| Q1 24 | $172.0M | $124.8M |
自由现金流MLMRBA
| Q4 25 | $424.0M | $186.5M | ||
| Q3 25 | $361.0M | $188.5M | ||
| Q2 25 | $208.0M | $241.7M | ||
| Q1 25 | $-15.0M | $102.5M | ||
| Q4 24 | $453.0M | $127.9M | ||
| Q3 24 | $317.0M | $248.5M | ||
| Q2 24 | $-138.0M | $308.6M | ||
| Q1 24 | $-28.0M | $79.6M |
自由现金流率MLMRBA
| Q4 25 | 37.2% | 15.5% | ||
| Q3 25 | 19.6% | 17.3% | ||
| Q2 25 | 11.5% | 20.4% | ||
| Q1 25 | -1.1% | 9.2% | ||
| Q4 24 | 27.8% | 11.2% | ||
| Q3 24 | 16.8% | 25.3% | ||
| Q2 24 | -7.8% | 28.2% | ||
| Q1 24 | -2.2% | 7.5% |
资本支出强度MLMRBA
| Q4 25 | 18.0% | 5.7% | ||
| Q3 25 | 10.3% | 4.7% | ||
| Q2 25 | 9.9% | 7.2% | ||
| Q1 25 | 17.2% | 4.9% | ||
| Q4 24 | 14.3% | 5.0% | ||
| Q3 24 | 15.0% | 3.8% | ||
| Q2 24 | 7.9% | 2.6% | ||
| Q1 24 | 16.0% | 4.2% |
现金转化率MLMRBA
| Q4 25 | 2.25× | 2.33× | ||
| Q3 25 | 1.33× | 2.51× | ||
| Q2 25 | 1.18× | 2.97× | ||
| Q1 25 | 1.88× | 1.38× | ||
| Q4 24 | 2.34× | 1.56× | ||
| Q3 24 | 1.65× | 3.75× | ||
| Q2 24 | 0.00× | 3.04× | ||
| Q1 24 | 0.16× | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
