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Martin Marietta Materials（MLM）与RH（RH）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RH的1.3倍（$1.1B vs $883.8M），Martin Marietta Materials净利率更高（24.5% vs 4.1%，领先20.4%），RH同比增速更快（8.9% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $83.0M），过去两年RH的营收复合增速更高（9.4% 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。
RH是美国高端家居品牌，总部位于加利福尼亚州科尔特马德拉。品牌通过线下零售门店、产品目录和线上渠道发售家居商品，截至2018年8月，在美国和加拿大共运营70家展示馆、18家全系列设计展示馆、3家婴童家居展示馆，另有36家奥莱门店。
MLM vs RH — 直观对比
营收规模更大
MLM
是对方的1.3倍
$883.8M
营收增速更快
RH
高出39.0%
-30.1%
净利率更高
MLM
高出20.4%
4.1%
自由现金流更多
MLM
多$341.0M
$83.0M
两年增速更快
RH
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $883.8M |
| 净利润 | $279.0M | $36.3M |
| 毛利率 | 35.0% | 44.1% |
| 营业利润率 | 24.6% | 12.0% |
| 净利率 | 24.5% | 4.1% |
| 营收同比 | -30.1% | 8.9% |
| 净利润同比 | -4.8% | 9.3% |
| 每股收益（稀释后） | $4.59 | $1.83 |
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MLMRH
| Q4 25 | $1.1B | $883.8M | ||
| Q3 25 | $1.8B | $899.2M | ||
| Q2 25 | $1.8B | $814.0M | ||
| Q1 25 | $1.4B | $812.4M | ||
| Q4 24 | $1.6B | $811.7M | ||
| Q3 24 | $1.9B | $829.7M | ||
| Q2 24 | $1.8B | $727.0M | ||
| Q1 24 | $1.3B | $738.3M |
净利润MLMRH
| Q4 25 | $279.0M | $36.3M | ||
| Q3 25 | $414.0M | $51.7M | ||
| Q2 25 | $328.0M | $8.0M | ||
| Q1 25 | $116.0M | $13.9M | ||
| Q4 24 | $293.0M | $33.2M | ||
| Q3 24 | $363.0M | $29.0M | ||
| Q2 24 | $294.0M | $-3.6M | ||
| Q1 24 | $1.0B | $11.4M |
毛利率MLMRH
| Q4 25 | 35.0% | 44.1% | ||
| Q3 25 | 33.1% | 45.5% | ||
| Q2 25 | 30.0% | 43.7% | ||
| Q1 25 | 24.8% | 44.7% | ||
| Q4 24 | 30.0% | 44.5% | ||
| Q3 24 | 31.7% | 45.2% | ||
| Q2 24 | 29.3% | 43.5% | ||
| Q1 24 | 21.7% | 43.5% |
营业利润率MLMRH
| Q4 25 | 24.6% | 12.0% | ||
| Q3 25 | 27.4% | 14.3% | ||
| Q2 25 | 25.3% | 6.9% | ||
| Q1 25 | 14.3% | 8.7% | ||
| Q4 24 | 24.4% | 12.5% | ||
| Q3 24 | 25.9% | 11.6% | ||
| Q2 24 | 22.6% | 7.5% | ||
| Q1 24 | — | 8.7% |
净利率MLMRH
| Q4 25 | 24.5% | 4.1% | ||
| Q3 25 | 22.4% | 5.8% | ||
| Q2 25 | 18.1% | 1.0% | ||
| Q1 25 | 8.6% | 1.7% | ||
| Q4 24 | 18.0% | 4.1% | ||
| Q3 24 | 19.2% | 3.5% | ||
| Q2 24 | 16.7% | -0.5% | ||
| Q1 24 | 83.5% | 1.5% |
每股收益（稀释后）MLMRH
| Q4 25 | $4.59 | $1.83 | ||
| Q3 25 | $6.85 | $2.62 | ||
| Q2 25 | $5.43 | $0.40 | ||
| Q1 25 | $1.90 | $0.71 | ||
| Q4 24 | $4.87 | $1.66 | ||
| Q3 24 | $5.91 | $1.45 | ||
| Q2 24 | $4.76 | $-0.20 | ||
| Q1 24 | $16.87 | $0.91 |
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 | $43.1M |
| 总债务越低越好 | $5.3B | — |
| 股东权益账面价值 | $10.0B | $3.3M |
| 总资产 | $18.7B | $4.8B |
| 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MLMRH
| Q4 25 | $67.0M | $43.1M | ||
| Q3 25 | $57.0M | $34.6M | ||
| Q2 25 | $225.0M | $46.1M | ||
| Q1 25 | $101.0M | $30.4M | ||
| Q4 24 | $670.0M | $87.0M | ||
| Q3 24 | $52.0M | $78.3M | ||
| Q2 24 | $109.0M | $101.8M | ||
| Q1 24 | $2.6B | $123.7M |
总债务MLMRH
| 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MLMRH
| Q4 25 | $10.0B | $3.3M | ||
| Q3 25 | $9.7B | $-40.9M | ||
| Q2 25 | $9.4B | $-110.8M | ||
| Q1 25 | $9.1B | $-163.6M | ||
| Q4 24 | $9.5B | $-183.0M | ||
| Q3 24 | $9.2B | $-234.7M | ||
| Q2 24 | $8.8B | $-289.9M | ||
| Q1 24 | $8.9B | $-297.4M |
总资产MLMRH
| Q4 25 | $18.7B | $4.8B | ||
| Q3 25 | $18.7B | $4.7B | ||
| Q2 25 | $18.1B | $4.7B | ||
| Q1 25 | $17.7B | $4.6B | ||
| Q4 24 | $18.2B | $4.5B | ||
| Q3 24 | $16.5B | $4.4B | ||
| Q2 24 | $16.3B | $4.2B | ||
| Q1 24 | $16.2B | $4.1B |
负债/权益比MLMRH
| 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 | $131.9M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $83.0M |
| 自由现金流率自由现金流/营收 | 37.2% | 9.4% |
| 资本支出强度资本支出/营收 | 18.0% | 5.5% |
| 现金转化率经营现金流/净利润 | 2.25× | 3.64× |
| 过去12个月自由现金流最近4个季度 | $978.0M | $128.1M |
8季度趋势，按日历期对齐
经营现金流MLMRH
| Q4 25 | $629.0M | $131.9M | ||
| Q3 25 | $551.0M | $137.7M | ||
| Q2 25 | $387.0M | $86.6M | ||
| Q1 25 | $218.0M | $-18.8M | ||
| Q4 24 | $686.0M | $-31.4M | ||
| Q3 24 | $600.0M | $11.2M | ||
| Q2 24 | $1.0M | $56.1M | ||
| Q1 24 | $172.0M | $-114.0M |
自由现金流MLMRH
| Q4 25 | $424.0M | $83.0M | ||
| Q3 25 | $361.0M | $80.7M | ||
| Q2 25 | $208.0M | $34.1M | ||
| Q1 25 | $-15.0M | $-69.7M | ||
| Q4 24 | $453.0M | $-96.0M | ||
| Q3 24 | $317.0M | $-37.9M | ||
| Q2 24 | $-138.0M | $-10.1M | ||
| Q1 24 | $-28.0M | $-251.5M |
自由现金流率MLMRH
| Q4 25 | 37.2% | 9.4% | ||
| Q3 25 | 19.6% | 9.0% | ||
| Q2 25 | 11.5% | 4.2% | ||
| Q1 25 | -1.1% | -8.6% | ||
| Q4 24 | 27.8% | -11.8% | ||
| Q3 24 | 16.8% | -4.6% | ||
| Q2 24 | -7.8% | -1.4% | ||
| Q1 24 | -2.2% | -34.1% |
资本支出强度MLMRH
| Q4 25 | 18.0% | 5.5% | ||
| Q3 25 | 10.3% | 6.3% | ||
| Q2 25 | 9.9% | 6.5% | ||
| Q1 25 | 17.2% | 6.3% | ||
| Q4 24 | 14.3% | 8.0% | ||
| Q3 24 | 15.0% | 5.9% | ||
| Q2 24 | 7.9% | 9.1% | ||
| Q1 24 | 16.0% | 18.6% |
现金转化率MLMRH
| Q4 25 | 2.25× | 3.64× | ||
| Q3 25 | 1.33× | 2.66× | ||
| Q2 25 | 1.18× | 10.78× | ||
| Q1 25 | 1.88× | -1.35× | ||
| Q4 24 | 2.34× | -0.95× | ||
| Q3 24 | 1.65× | 0.39× | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 0.16× | -10.01× |
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% |
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
