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Martin Marietta Materials（MLM）与STEPAN CO（SCL）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STEPAN CO的1.9倍（$1.1B vs $604.5M），Martin Marietta Materials净利率更高（24.5% vs 3.3%，领先21.2%），STEPAN CO同比增速更快（1.9% vs -30.1%），过去两年STEPAN CO的营收复合增速更高（4.2% 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。
斯特潘公司是一家美国特种化学品制造商，总部位于伊利诺伊州诺斯布鲁克，1932年由小阿尔弗雷德·C·斯特潘创立，现有约2000名员工，目前由创始人的孙子小F·奎因·斯特潘执掌。该公司是全球最大的阴离子表面活性剂商品生产商，产品用于提升洗涤剂、洗发水、牙膏及化妆品的起泡与清洁能力。
MLM vs SCL — 直观对比
营收规模更大
MLM
是对方的1.9倍
$604.5M
营收增速更快
SCL
高出32.0%
-30.1%
净利率更高
MLM
高出21.2%
3.3%
两年增速更快
SCL
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $604.5M |
| 净利润 | $279.0M | $19.7M |
| 毛利率 | 35.0% | 10.7% |
| 营业利润率 | 24.6% | 4.7% |
| 净利率 | 24.5% | 3.3% |
| 营收同比 | -30.1% | 1.9% |
| 净利润同比 | -4.8% | — |
| 每股收益（稀释后） | $4.59 | $0.86 |
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MLMSCL
| Q1 26 | — | $604.5M | ||
| Q4 25 | $1.1B | $553.9M | ||
| Q3 25 | $1.8B | $590.3M | ||
| Q2 25 | $1.8B | $594.7M | ||
| Q1 25 | $1.4B | $593.3M | ||
| Q4 24 | $1.6B | $525.6M | ||
| Q3 24 | $1.9B | $546.8M | ||
| Q2 24 | $1.8B | $556.4M |
净利润MLMSCL
| Q1 26 | — | $19.7M | ||
| Q4 25 | $279.0M | $5.0M | ||
| Q3 25 | $414.0M | $10.8M | ||
| Q2 25 | $328.0M | $11.3M | ||
| Q1 25 | $116.0M | $19.7M | ||
| Q4 24 | $293.0M | $3.4M | ||
| Q3 24 | $363.0M | $23.6M | ||
| Q2 24 | $294.0M | $9.5M |
毛利率MLMSCL
| Q1 26 | — | 10.7% | ||
| Q4 25 | 35.0% | 9.3% | ||
| Q3 25 | 33.1% | 12.0% | ||
| Q2 25 | 30.0% | 12.1% | ||
| Q1 25 | 24.8% | 12.7% | ||
| Q4 24 | 30.0% | 10.8% | ||
| Q3 24 | 31.7% | 13.8% | ||
| Q2 24 | 29.3% | 12.5% |
营业利润率MLMSCL
| Q1 26 | — | 4.7% | ||
| Q4 25 | 24.6% | 1.9% | ||
| Q3 25 | 27.4% | 3.7% | ||
| Q2 25 | 25.3% | 3.0% | ||
| Q1 25 | 14.3% | 4.8% | ||
| Q4 24 | 24.4% | 1.5% | ||
| Q3 24 | 25.9% | 4.4% | ||
| Q2 24 | 22.6% | 3.4% |
净利率MLMSCL
| Q1 26 | — | 3.3% | ||
| Q4 25 | 24.5% | 0.9% | ||
| Q3 25 | 22.4% | 1.8% | ||
| Q2 25 | 18.1% | 1.9% | ||
| Q1 25 | 8.6% | 3.3% | ||
| Q4 24 | 18.0% | 0.6% | ||
| Q3 24 | 19.2% | 4.3% | ||
| Q2 24 | 16.7% | 1.7% |
每股收益（稀释后）MLMSCL
| Q1 26 | — | $0.86 | ||
| Q4 25 | $4.59 | $0.22 | ||
| Q3 25 | $6.85 | $0.47 | ||
| Q2 25 | $5.43 | $0.50 | ||
| Q1 25 | $1.90 | $0.86 | ||
| Q4 24 | $4.87 | $0.14 | ||
| Q3 24 | $5.91 | $1.03 | ||
| Q2 24 | $4.76 | $0.42 |
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 | $328.4M |
| 股东权益账面价值 | $10.0B | $1.2B |
| 总资产 | $18.7B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.53× | 0.28× |
8季度趋势，按日历期对齐
现金及短期投资MLMSCL
| Q1 26 | — | — | ||
| Q4 25 | $67.0M | $132.7M | ||
| Q3 25 | $57.0M | $118.5M | ||
| Q2 25 | $225.0M | $88.9M | ||
| Q1 25 | $101.0M | $107.5M | ||
| Q4 24 | $670.0M | $99.7M | ||
| Q3 24 | $52.0M | $147.3M | ||
| Q2 24 | $109.0M | $124.7M |
总债务MLMSCL
| Q1 26 | — | $328.4M | ||
| Q4 25 | $5.3B | $626.7M | ||
| Q3 25 | $5.5B | $655.5M | ||
| Q2 25 | $5.4B | $658.0M | ||
| Q1 25 | $5.4B | $659.3M | ||
| Q4 24 | $5.4B | $625.4M | ||
| Q3 24 | $4.0B | $688.5M | ||
| Q2 24 | $4.3B | $657.1M |
股东权益MLMSCL
| Q1 26 | — | $1.2B | ||
| Q4 25 | $10.0B | $1.2B | ||
| Q3 25 | $9.7B | $1.2B | ||
| 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 | $1.2B |
总资产MLMSCL
| Q1 26 | — | $2.3B | ||
| Q4 25 | $18.7B | $2.4B | ||
| Q3 25 | $18.7B | $2.4B | ||
| Q2 25 | $18.1B | $2.4B | ||
| Q1 25 | $17.7B | $2.4B | ||
| Q4 24 | $18.2B | $2.3B | ||
| Q3 24 | $16.5B | $2.4B | ||
| Q2 24 | $16.3B | $2.3B |
负债/权益比MLMSCL
| Q1 26 | — | 0.28× | ||
| Q4 25 | 0.53× | 0.50× | ||
| Q3 25 | 0.57× | 0.53× | ||
| Q2 25 | 0.58× | 0.53× | ||
| Q1 25 | 0.60× | 0.55× | ||
| Q4 24 | 0.57× | 0.53× | ||
| Q3 24 | 0.44× | 0.56× | ||
| Q2 24 | 0.49× | 0.55× |
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 | — |
| 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× | — |
| 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MLMSCL
| Q1 26 | — | — | ||
| Q4 25 | $629.0M | $60.0M | ||
| Q3 25 | $551.0M | $69.8M | ||
| Q2 25 | $387.0M | $11.2M | ||
| Q1 25 | $218.0M | $6.9M | ||
| Q4 24 | $686.0M | $68.3M | ||
| Q3 24 | $600.0M | $22.7M | ||
| Q2 24 | $1.0M | $29.5M |
自由现金流MLMSCL
| Q1 26 | — | — | ||
| Q4 25 | $424.0M | $25.4M | ||
| Q3 25 | $361.0M | $40.2M | ||
| Q2 25 | $208.0M | $-14.4M | ||
| Q1 25 | $-15.0M | $-25.8M | ||
| Q4 24 | $453.0M | $32.1M | ||
| Q3 24 | $317.0M | $-4.0M | ||
| Q2 24 | $-138.0M | $-208.0K |
自由现金流率MLMSCL
| Q1 26 | — | — | ||
| Q4 25 | 37.2% | 4.6% | ||
| Q3 25 | 19.6% | 6.8% | ||
| Q2 25 | 11.5% | -2.4% | ||
| Q1 25 | -1.1% | -4.3% | ||
| Q4 24 | 27.8% | 6.1% | ||
| Q3 24 | 16.8% | -0.7% | ||
| Q2 24 | -7.8% | -0.0% |
资本支出强度MLMSCL
| Q1 26 | — | — | ||
| Q4 25 | 18.0% | 6.3% | ||
| Q3 25 | 10.3% | 5.0% | ||
| Q2 25 | 9.9% | 4.3% | ||
| Q1 25 | 17.2% | 5.5% | ||
| Q4 24 | 14.3% | 6.9% | ||
| Q3 24 | 15.0% | 4.9% | ||
| Q2 24 | 7.9% | 5.3% |
现金转化率MLMSCL
| Q1 26 | — | — | ||
| Q4 25 | 2.25× | 11.99× | ||
| Q3 25 | 1.33× | 6.44× | ||
| Q2 25 | 1.18× | 0.99× | ||
| Q1 25 | 1.88× | 0.35× | ||
| Q4 24 | 2.34× | 20.38× | ||
| Q3 24 | 1.65× | 0.96× | ||
| Q2 24 | 0.00× | 3.10× |
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% |
SCL
| Surfactants | $453.7M | 75% |
| Polymers | $130.0M | 22% |
| Specialty Products | $20.8M | 3% |
