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Martin Marietta Materials（MLM）与STEWART INFORMATION SERVICES CORP（STC）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STEWART INFORMATION SERVICES CORP的1.5倍（$1.1B vs $764.6M），Martin Marietta Materials净利率更高（24.5% vs 2.2%，领先22.3%），STEWART INFORMATION SERVICES CORP同比增速更快（27.7% vs -30.1%），过去两年STEWART INFORMATION SERVICES CORP的营收复合增速更高（12.7% 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。
斯图尔特信息服务公司（STC）是一家主营房地产信息、产权保险及交易管理服务的企业，旗下全资子公司斯图尔特产权担保公司、斯图尔特产权公司通过直营网点、斯图尔特可信供应商网络内的独立代理机构及合作企业，为美国及全球市场提供相关产品与服务，总部位于得克萨斯州休斯敦，现有员工约6350人。
MLM vs STC — 直观对比
营收规模更大
MLM
是对方的1.5倍
$764.6M
营收增速更快
STC
高出57.8%
-30.1%
净利率更高
MLM
高出22.3%
2.2%
两年增速更快
STC
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $764.6M |
| 净利润 | $279.0M | $17.0M |
| 毛利率 | 35.0% | — |
| 营业利润率 | 24.6% | — |
| 净利率 | 24.5% | 2.2% |
| 营收同比 | -30.1% | 27.7% |
| 净利润同比 | -4.8% | 448.4% |
| 每股收益（稀释后） | $4.59 | — |
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MLMSTC
| Q1 26 | — | $764.6M | ||
| Q4 25 | $1.1B | $790.6M | ||
| Q3 25 | $1.8B | $796.9M | ||
| Q2 25 | $1.8B | $722.2M | ||
| Q1 25 | $1.4B | $612.0M | ||
| Q4 24 | $1.6B | $665.9M | ||
| Q3 24 | $1.9B | $667.9M | ||
| Q2 24 | $1.8B | $602.2M |
净利润MLMSTC
| Q1 26 | — | $17.0M | ||
| Q4 25 | $279.0M | $36.3M | ||
| Q3 25 | $414.0M | $44.3M | ||
| Q2 25 | $328.0M | $31.9M | ||
| Q1 25 | $116.0M | $3.1M | ||
| Q4 24 | $293.0M | $22.7M | ||
| Q3 24 | $363.0M | $30.1M | ||
| Q2 24 | $294.0M | $17.3M |
毛利率MLMSTC
| Q1 26 | — | — | ||
| 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% | — |
营业利润率MLMSTC
| Q1 26 | — | — | ||
| Q4 25 | 24.6% | 6.5% | ||
| Q3 25 | 27.4% | 7.7% | ||
| Q2 25 | 25.3% | 6.5% | ||
| Q1 25 | 14.3% | 1.0% | ||
| Q4 24 | 24.4% | 5.3% | ||
| Q3 24 | 25.9% | 6.4% | ||
| Q2 24 | 22.6% | 4.8% |
净利率MLMSTC
| Q1 26 | — | 2.2% | ||
| Q4 25 | 24.5% | 4.6% | ||
| Q3 25 | 22.4% | 5.6% | ||
| Q2 25 | 18.1% | 4.4% | ||
| Q1 25 | 8.6% | 0.5% | ||
| Q4 24 | 18.0% | 3.4% | ||
| Q3 24 | 19.2% | 4.5% | ||
| Q2 24 | 16.7% | 2.9% |
每股收益（稀释后）MLMSTC
| Q1 26 | — | — | ||
| Q4 25 | $4.59 | $1.26 | ||
| Q3 25 | $6.85 | $1.55 | ||
| Q2 25 | $5.43 | $1.13 | ||
| Q1 25 | $1.90 | $0.11 | ||
| Q4 24 | $4.87 | $0.81 | ||
| Q3 24 | $5.91 | $1.07 | ||
| Q2 24 | $4.76 | $0.62 |
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 | $317.5M |
| 总债务越低越好 | $5.3B | — |
| 股东权益账面价值 | $10.0B | — |
| 总资产 | $18.7B | — |
| 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MLMSTC
| Q1 26 | — | $317.5M | ||
| Q4 25 | $67.0M | $369.7M | ||
| Q3 25 | $57.0M | $233.2M | ||
| Q2 25 | $225.0M | $223.8M | ||
| Q1 25 | $101.0M | $194.2M | ||
| Q4 24 | $670.0M | $257.5M | ||
| Q3 24 | $52.0M | $228.7M | ||
| Q2 24 | $109.0M | $176.7M |
总债务MLMSTC
| Q1 26 | — | — | ||
| Q4 25 | $5.3B | — | ||
| Q3 25 | $5.5B | — | ||
| Q2 25 | $5.4B | — | ||
| Q1 25 | $5.4B | — | ||
| Q4 24 | $5.4B | $445.8M | ||
| Q3 24 | $4.0B | — | ||
| Q2 24 | $4.3B | — |
股东权益MLMSTC
| Q1 26 | — | — | ||
| Q4 25 | $10.0B | $1.6B | ||
| Q3 25 | $9.7B | $1.5B | ||
| Q2 25 | $9.4B | $1.4B | ||
| Q1 25 | $9.1B | $1.4B | ||
| Q4 24 | $9.5B | $1.4B | ||
| Q3 24 | $9.2B | $1.4B | ||
| Q2 24 | $8.8B | $1.4B |
总资产MLMSTC
| Q1 26 | — | — | ||
| Q4 25 | $18.7B | $3.3B | ||
| Q3 25 | $18.7B | $2.8B | ||
| Q2 25 | $18.1B | $2.8B | ||
| Q1 25 | $17.7B | $2.7B | ||
| Q4 24 | $18.2B | $2.7B | ||
| Q3 24 | $16.5B | $2.7B | ||
| Q2 24 | $16.3B | $2.6B |
负债/权益比MLMSTC
| Q1 26 | — | — | ||
| Q4 25 | 0.53× | — | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.58× | — | ||
| Q1 25 | 0.60× | — | ||
| Q4 24 | 0.57× | 0.32× | ||
| 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 | $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MLMSTC
| Q1 26 | — | — | ||
| Q4 25 | $629.0M | $89.5M | ||
| Q3 25 | $551.0M | $92.6M | ||
| Q2 25 | $387.0M | $53.4M | ||
| Q1 25 | $218.0M | $-29.9M | ||
| Q4 24 | $686.0M | $68.0M | ||
| Q3 24 | $600.0M | $76.1M | ||
| Q2 24 | $1.0M | $21.1M |
自由现金流MLMSTC
| Q1 26 | — | — | ||
| Q4 25 | $424.0M | $62.3M | ||
| Q3 25 | $361.0M | $73.6M | ||
| Q2 25 | $208.0M | $38.7M | ||
| Q1 25 | $-15.0M | $-42.2M | ||
| Q4 24 | $453.0M | $55.6M | ||
| Q3 24 | $317.0M | $67.4M | ||
| Q2 24 | $-138.0M | $11.9M |
自由现金流率MLMSTC
| Q1 26 | — | — | ||
| Q4 25 | 37.2% | 7.9% | ||
| Q3 25 | 19.6% | 9.2% | ||
| Q2 25 | 11.5% | 5.4% | ||
| Q1 25 | -1.1% | -6.9% | ||
| Q4 24 | 27.8% | 8.4% | ||
| Q3 24 | 16.8% | 10.1% | ||
| Q2 24 | -7.8% | 2.0% |
资本支出强度MLMSTC
| Q1 26 | — | — | ||
| Q4 25 | 18.0% | 3.4% | ||
| Q3 25 | 10.3% | 2.4% | ||
| Q2 25 | 9.9% | 2.0% | ||
| Q1 25 | 17.2% | 2.0% | ||
| Q4 24 | 14.3% | 1.9% | ||
| Q3 24 | 15.0% | 1.3% | ||
| Q2 24 | 7.9% | 1.5% |
现金转化率MLMSTC
| Q1 26 | — | — | ||
| Q4 25 | 2.25× | 2.47× | ||
| Q3 25 | 1.33× | 2.09× | ||
| Q2 25 | 1.18× | 1.67× | ||
| Q1 25 | 1.88× | -9.73× | ||
| Q4 24 | 2.34× | 2.99× | ||
| Q3 24 | 1.65× | 2.53× | ||
| Q2 24 | 0.00× | 1.22× |
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% |
STC
| Agency title | $333.0M | 44% |
| Direct title | $270.2M | 35% |
| Real estate solutions | $161.4M | 21% |
