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Martin Marietta Materials（MLM）与SBA Communications（SBAC）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SBA Communications的1.9倍（$1.4B vs $703.4M），Martin Marietta Materials净利率更高（111.1% vs 26.3%，领先84.8%），Martin Marietta Materials同比增速更快（17.0% vs -1.6%），过去两年SBA Communications的营收复合增速更高（3.2% vs -12.1%）
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。
SBA Communications是一家房地产投资信托企业，核心业务为持有、运营无线通信基础设施，市场覆盖美国、加拿大、中南美洲及南非地区。公司由Steven Bernstein于1989年创立，前身为Steven Bernstein and Associates。
MLM vs SBAC — 直观对比
营收规模更大
MLM
是对方的1.9倍
$703.4M
营收增速更快
MLM
高出18.6%
-1.6%
净利率更高
MLM
高出84.8%
26.3%
两年增速更快
SBAC
近两年复合增速
-12.1%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $703.4M |
| 净利润 | $1.5B | $184.9M |
| 毛利率 | 22.8% | — |
| 营业利润率 | 11.9% | 48.7% |
| 净利率 | 111.1% | 26.3% |
| 营收同比 | 17.0% | -1.6% |
| 净利润同比 | — | -15.1% |
| 每股收益（稀释后） | — | $1.74 |
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MLMSBAC
| Q1 26 | $1.4B | $703.4M | ||
| Q4 25 | $1.1B | $719.6M | ||
| Q3 25 | $1.8B | $732.3M | ||
| Q2 25 | $1.8B | $699.0M | ||
| Q1 25 | $1.4B | $664.2M | ||
| Q4 24 | $1.6B | $693.7M | ||
| Q3 24 | $1.9B | $667.6M | ||
| Q2 24 | $1.8B | $660.5M |
净利润MLMSBAC
| Q1 26 | $1.5B | $184.9M | ||
| Q4 25 | $279.0M | $370.4M | ||
| Q3 25 | $414.0M | $236.8M | ||
| Q2 25 | $328.0M | $225.8M | ||
| Q1 25 | $116.0M | $220.7M | ||
| Q4 24 | $293.0M | $178.8M | ||
| Q3 24 | $363.0M | $258.5M | ||
| Q2 24 | $294.0M | $162.8M |
毛利率MLMSBAC
| Q1 26 | 22.8% | — | ||
| Q4 25 | 35.0% | 75.6% | ||
| Q3 25 | 33.1% | 74.1% | ||
| Q2 25 | 30.0% | 75.4% | ||
| Q1 25 | 24.8% | 76.9% | ||
| Q4 24 | 30.0% | 78.1% | ||
| Q3 24 | 31.7% | 77.5% | ||
| Q2 24 | 29.3% | 78.6% |
营业利润率MLMSBAC
| Q1 26 | 11.9% | 48.7% | ||
| Q4 25 | 24.6% | 41.5% | ||
| Q3 25 | 27.4% | 51.1% | ||
| Q2 25 | 25.3% | 47.9% | ||
| Q1 25 | 14.3% | 50.4% | ||
| Q4 24 | 24.4% | 55.1% | ||
| Q3 24 | 25.9% | 56.3% | ||
| Q2 24 | 22.6% | 53.7% |
净利率MLMSBAC
| Q1 26 | 111.1% | 26.3% | ||
| Q4 25 | 24.5% | 51.5% | ||
| Q3 25 | 22.4% | 32.3% | ||
| Q2 25 | 18.1% | 32.3% | ||
| Q1 25 | 8.6% | 33.2% | ||
| Q4 24 | 18.0% | 25.8% | ||
| Q3 24 | 19.2% | 38.7% | ||
| Q2 24 | 16.7% | 24.7% |
每股收益（稀释后）MLMSBAC
| Q1 26 | — | $1.74 | ||
| Q4 25 | $4.59 | $3.47 | ||
| Q3 25 | $6.85 | $2.20 | ||
| Q2 25 | $5.43 | $2.09 | ||
| Q1 25 | $1.90 | $2.04 | ||
| Q4 24 | $4.87 | $1.61 | ||
| Q3 24 | $5.91 | $2.40 | ||
| Q2 24 | $4.76 | $1.51 |
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 | $273.0M | $269.1M |
| 总债务越低越好 | $0 | $2.7B |
| 股东权益账面价值 | $11.3B | — |
| 总资产 | $20.5B | $11.7B |
| 负债/权益比越低杠杆越低 | 0.00× | — |
8季度趋势，按日历期对齐
现金及短期投资MLMSBAC
| Q1 26 | $273.0M | $269.1M | ||
| Q4 25 | $67.0M | $271.2M | ||
| Q3 25 | $57.0M | $431.1M | ||
| Q2 25 | $225.0M | $276.8M | ||
| Q1 25 | $101.0M | $702.2M | ||
| Q4 24 | $670.0M | $444.4M | ||
| Q3 24 | $52.0M | $202.6M | ||
| Q2 24 | $109.0M | $250.9M |
总债务MLMSBAC
| Q1 26 | $0 | $2.7B | ||
| Q4 25 | $5.3B | $12.9B | ||
| Q3 25 | $5.5B | $12.7B | ||
| Q2 25 | $5.4B | $12.5B | ||
| Q1 25 | $5.4B | $12.4B | ||
| Q4 24 | $5.4B | $13.6B | ||
| Q3 24 | $4.0B | $12.3B | ||
| Q2 24 | $4.3B | $12.3B |
股东权益MLMSBAC
| Q1 26 | $11.3B | — | ||
| Q4 25 | $10.0B | $-4.9B | ||
| Q3 25 | $9.7B | $-4.9B | ||
| Q2 25 | $9.4B | $-4.9B | ||
| Q1 25 | $9.1B | $-5.0B | ||
| Q4 24 | $9.5B | $-5.1B | ||
| Q3 24 | $9.2B | $-5.2B | ||
| Q2 24 | $8.8B | $-5.3B |
总资产MLMSBAC
| Q1 26 | $20.5B | $11.7B | ||
| Q4 25 | $18.7B | $11.6B | ||
| Q3 25 | $18.7B | $11.3B | ||
| Q2 25 | $18.1B | $10.8B | ||
| Q1 25 | $17.7B | $10.4B | ||
| Q4 24 | $18.2B | $11.4B | ||
| Q3 24 | $16.5B | $10.2B | ||
| Q2 24 | $16.3B | $9.8B |
负债/权益比MLMSBAC
| Q1 26 | 0.00× | — | ||
| 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× | — |
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 | $227.0M | $255.1M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 40.4% | 9.5% |
| 现金转化率经营现金流/净利润 | 0.15× | 1.38× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流MLMSBAC
| Q1 26 | $227.0M | $255.1M | ||
| Q4 25 | $629.0M | $1.3B | ||
| Q3 25 | $551.0M | $318.0M | ||
| Q2 25 | $387.0M | $368.1M | ||
| Q1 25 | $218.0M | $301.2M | ||
| Q4 24 | $686.0M | $1.3B | ||
| Q3 24 | $600.0M | $304.7M | ||
| Q2 24 | $1.0M | $425.6M |
自由现金流MLMSBAC
| Q1 26 | — | — | ||
| Q4 25 | $424.0M | $833.3M | ||
| Q3 25 | $361.0M | $258.0M | ||
| Q2 25 | $208.0M | $312.2M | ||
| Q1 25 | $-15.0M | $255.0M | ||
| Q4 24 | $453.0M | $1.2B | ||
| Q3 24 | $317.0M | $239.9M | ||
| Q2 24 | $-138.0M | $375.6M |
自由现金流率MLMSBAC
| Q1 26 | — | — | ||
| Q4 25 | 37.2% | 115.8% | ||
| Q3 25 | 19.6% | 35.2% | ||
| Q2 25 | 11.5% | 44.7% | ||
| Q1 25 | -1.1% | 38.4% | ||
| Q4 24 | 27.8% | 179.9% | ||
| Q3 24 | 16.8% | 35.9% | ||
| Q2 24 | -7.8% | 56.9% |
资本支出强度MLMSBAC
| Q1 26 | 40.4% | 9.5% | ||
| Q4 25 | 18.0% | 63.7% | ||
| Q3 25 | 10.3% | 8.2% | ||
| Q2 25 | 9.9% | 8.0% | ||
| Q1 25 | 17.2% | 7.0% | ||
| Q4 24 | 14.3% | 12.6% | ||
| Q3 24 | 15.0% | 9.7% | ||
| Q2 24 | 7.9% | 7.6% |
现金转化率MLMSBAC
| Q1 26 | 0.15× | 1.38× | ||
| Q4 25 | 2.25× | 3.49× | ||
| Q3 25 | 1.33× | 1.34× | ||
| Q2 25 | 1.18× | 1.63× | ||
| Q1 25 | 1.88× | 1.36× | ||
| Q4 24 | 2.34× | 7.47× | ||
| Q3 24 | 1.65× | 1.18× | ||
| Q2 24 | 0.00× | 2.61× |
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
暂无分部数据
SBAC
| Site leasing | $656.1M | 93% |
| Site development | $47.3M | 7% |
