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Martin Marietta Materials（MLM）与SCANSOURCE, INC.（SCSC）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SCANSOURCE, INC.的1.5倍（$1.1B vs $766.5M），Martin Marietta Materials净利率更高（24.5% vs 2.2%，领先22.3%），SCANSOURCE, INC.同比增速更快（2.5% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $28.9M），过去两年SCANSOURCE, INC.的营收复合增速更高（0.9% 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。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
MLM vs SCSC — 直观对比
营收规模更大
MLM
是对方的1.5倍
$766.5M
营收增速更快
SCSC
高出32.7%
-30.1%
净利率更高
MLM
高出22.3%
2.2%
自由现金流更多
MLM
多$395.1M
$28.9M
两年增速更快
SCSC
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $766.5M |
| 净利润 | $279.0M | $16.5M |
| 毛利率 | 35.0% | 13.4% |
| 营业利润率 | 24.6% | 2.3% |
| 净利率 | 24.5% | 2.2% |
| 营收同比 | -30.1% | 2.5% |
| 净利润同比 | -4.8% | -3.3% |
| 每股收益（稀释后） | $4.59 | $0.75 |
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MLMSCSC
| Q4 25 | $1.1B | $766.5M | ||
| Q3 25 | $1.8B | $739.6M | ||
| Q2 25 | $1.8B | $812.9M | ||
| Q1 25 | $1.4B | $704.8M | ||
| Q4 24 | $1.6B | $747.5M | ||
| Q3 24 | $1.9B | $775.6M | ||
| Q2 24 | $1.8B | $746.1M | ||
| Q1 24 | $1.3B | $752.6M |
净利润MLMSCSC
| Q4 25 | $279.0M | $16.5M | ||
| Q3 25 | $414.0M | $19.9M | ||
| Q2 25 | $328.0M | $20.1M | ||
| Q1 25 | $116.0M | $17.4M | ||
| Q4 24 | $293.0M | $17.1M | ||
| Q3 24 | $363.0M | $17.0M | ||
| Q2 24 | $294.0M | $16.1M | ||
| Q1 24 | $1.0B | $12.8M |
毛利率MLMSCSC
| Q4 25 | 35.0% | 13.4% | ||
| Q3 25 | 33.1% | 14.5% | ||
| Q2 25 | 30.0% | 12.9% | ||
| Q1 25 | 24.8% | 14.2% | ||
| Q4 24 | 30.0% | 13.6% | ||
| Q3 24 | 31.7% | 13.1% | ||
| Q2 24 | 29.3% | 13.0% | ||
| Q1 24 | 21.7% | 12.6% |
营业利润率MLMSCSC
| Q4 25 | 24.6% | 2.3% | ||
| Q3 25 | 27.4% | 3.5% | ||
| Q2 25 | 25.3% | 3.3% | ||
| Q1 25 | 14.3% | 3.2% | ||
| Q4 24 | 24.4% | 2.5% | ||
| Q3 24 | 25.9% | 2.3% | ||
| Q2 24 | 22.6% | 2.9% | ||
| Q1 24 | — | 2.3% |
净利率MLMSCSC
| Q4 25 | 24.5% | 2.2% | ||
| Q3 25 | 22.4% | 2.7% | ||
| Q2 25 | 18.1% | 2.5% | ||
| Q1 25 | 8.6% | 2.5% | ||
| Q4 24 | 18.0% | 2.3% | ||
| Q3 24 | 19.2% | 2.2% | ||
| Q2 24 | 16.7% | 2.2% | ||
| Q1 24 | 83.5% | 1.7% |
每股收益（稀释后）MLMSCSC
| Q4 25 | $4.59 | $0.75 | ||
| Q3 25 | $6.85 | $0.89 | ||
| Q2 25 | $5.43 | $0.87 | ||
| Q1 25 | $1.90 | $0.74 | ||
| Q4 24 | $4.87 | $0.70 | ||
| Q3 24 | $5.91 | $0.69 | ||
| Q2 24 | $4.76 | $0.66 | ||
| Q1 24 | $16.87 | $0.50 |
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 | $83.5M |
| 总债务越低越好 | $5.3B | — |
| 股东权益账面价值 | $10.0B | $910.9M |
| 总资产 | $18.7B | $1.7B |
| 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MLMSCSC
| Q4 25 | $67.0M | $83.5M | ||
| Q3 25 | $57.0M | $124.9M | ||
| Q2 25 | $225.0M | $126.2M | ||
| Q1 25 | $101.0M | $146.3M | ||
| Q4 24 | $670.0M | $110.5M | ||
| Q3 24 | $52.0M | $145.0M | ||
| Q2 24 | $109.0M | $185.5M | ||
| Q1 24 | $2.6B | $159.1M |
总债务MLMSCSC
| 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MLMSCSC
| Q4 25 | $10.0B | $910.9M | ||
| Q3 25 | $9.7B | $914.0M | ||
| Q2 25 | $9.4B | $906.4M | ||
| Q1 25 | $9.1B | $901.7M | ||
| Q4 24 | $9.5B | $900.7M | ||
| Q3 24 | $9.2B | $920.9M | ||
| Q2 24 | $8.8B | $924.3M | ||
| Q1 24 | $8.9B | $944.1M |
总资产MLMSCSC
| Q4 25 | $18.7B | $1.7B | ||
| Q3 25 | $18.7B | $1.7B | ||
| Q2 25 | $18.1B | $1.8B | ||
| Q1 25 | $17.7B | $1.7B | ||
| Q4 24 | $18.2B | $1.7B | ||
| Q3 24 | $16.5B | $1.8B | ||
| Q2 24 | $16.3B | $1.8B | ||
| Q1 24 | $16.2B | $1.8B |
负债/权益比MLMSCSC
| 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 | $30.8M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $28.9M |
| 自由现金流率自由现金流/营收 | 37.2% | 3.8% |
| 资本支出强度资本支出/营收 | 18.0% | 0.3% |
| 现金转化率经营现金流/净利润 | 2.25× | 1.87× |
| 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MLMSCSC
| Q4 25 | $629.0M | $30.8M | ||
| Q3 25 | $551.0M | $23.2M | ||
| Q2 25 | $387.0M | — | ||
| Q1 25 | $218.0M | $66.1M | ||
| Q4 24 | $686.0M | $-6.2M | ||
| Q3 24 | $600.0M | $44.8M | ||
| Q2 24 | $1.0M | — | ||
| Q1 24 | $172.0M | $160.2M |
自由现金流MLMSCSC
| Q4 25 | $424.0M | $28.9M | ||
| Q3 25 | $361.0M | $20.8M | ||
| Q2 25 | $208.0M | — | ||
| Q1 25 | $-15.0M | $64.6M | ||
| Q4 24 | $453.0M | $-8.2M | ||
| Q3 24 | $317.0M | $42.5M | ||
| Q2 24 | $-138.0M | — | ||
| Q1 24 | $-28.0M | $157.7M |
自由现金流率MLMSCSC
| Q4 25 | 37.2% | 3.8% | ||
| Q3 25 | 19.6% | 2.8% | ||
| Q2 25 | 11.5% | — | ||
| Q1 25 | -1.1% | 9.2% | ||
| Q4 24 | 27.8% | -1.1% | ||
| Q3 24 | 16.8% | 5.5% | ||
| Q2 24 | -7.8% | — | ||
| Q1 24 | -2.2% | 21.0% |
资本支出强度MLMSCSC
| Q4 25 | 18.0% | 0.3% | ||
| Q3 25 | 10.3% | 0.3% | ||
| Q2 25 | 9.9% | 0.3% | ||
| Q1 25 | 17.2% | 0.2% | ||
| Q4 24 | 14.3% | 0.3% | ||
| Q3 24 | 15.0% | 0.3% | ||
| Q2 24 | 7.9% | 0.2% | ||
| Q1 24 | 16.0% | 0.3% |
现金转化率MLMSCSC
| Q4 25 | 2.25× | 1.87× | ||
| Q3 25 | 1.33× | 1.17× | ||
| Q2 25 | 1.18× | — | ||
| Q1 25 | 1.88× | 3.79× | ||
| Q4 24 | 2.34× | -0.36× | ||
| Q3 24 | 1.65× | 2.64× | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 0.16× | 12.51× |
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% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
