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Martin Marietta Materials（MLM）与STERLING INFRASTRUCTURE, INC.（STRL）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STERLING INFRASTRUCTURE, INC.的1.5倍（$1.1B vs $755.6M），Martin Marietta Materials净利率更高（24.5% vs 11.6%，领先12.9%），STERLING INFRASTRUCTURE, INC.同比增速更快（51.5% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $159.7M），过去两年STERLING INFRASTRUCTURE, INC.的营收复合增速更高（31.0% 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。
本公司是总部位于印度马哈拉施特拉邦孟买的跨国工程总承包（EPC）企业，业务覆盖可再生能源、数据中心、柴油发电、机电水暖（MEP）服务等多个领域，已在全球三十余个国家交付项目，执行团队遍布亚洲、中东、非洲、欧洲及澳大利亚。
MLM vs STRL — 直观对比
营收规模更大
MLM
是对方的1.5倍
$755.6M
营收增速更快
STRL
高出81.6%
-30.1%
净利率更高
MLM
高出12.9%
11.6%
自由现金流更多
MLM
多$264.3M
$159.7M
两年增速更快
STRL
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $755.6M |
| 净利润 | $279.0M | $87.6M |
| 毛利率 | 35.0% | 21.7% |
| 营业利润率 | 24.6% | 15.9% |
| 净利率 | 24.5% | 11.6% |
| 营收同比 | -30.1% | 51.5% |
| 净利润同比 | -4.8% | -22.6% |
| 每股收益（稀释后） | $4.59 | $2.82 |
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MLMSTRL
| Q4 25 | $1.1B | $755.6M | ||
| Q3 25 | $1.8B | $689.0M | ||
| Q2 25 | $1.8B | $614.5M | ||
| Q1 25 | $1.4B | $430.9M | ||
| Q4 24 | $1.6B | $498.8M | ||
| Q3 24 | $1.9B | $593.7M | ||
| Q2 24 | $1.8B | $582.8M | ||
| Q1 24 | $1.3B | $440.4M |
净利润MLMSTRL
| Q4 25 | $279.0M | $87.6M | ||
| Q3 25 | $414.0M | $92.1M | ||
| Q2 25 | $328.0M | $71.0M | ||
| Q1 25 | $116.0M | $39.5M | ||
| Q4 24 | $293.0M | $113.2M | ||
| Q3 24 | $363.0M | $61.3M | ||
| Q2 24 | $294.0M | $51.9M | ||
| Q1 24 | $1.0B | $31.0M |
毛利率MLMSTRL
| Q4 25 | 35.0% | 21.7% | ||
| Q3 25 | 33.1% | 24.7% | ||
| Q2 25 | 30.0% | 23.3% | ||
| Q1 25 | 24.8% | 22.0% | ||
| Q4 24 | 30.0% | 21.4% | ||
| Q3 24 | 31.7% | 21.9% | ||
| Q2 24 | 29.3% | 19.3% | ||
| Q1 24 | 21.7% | 17.5% |
营业利润率MLMSTRL
| Q4 25 | 24.6% | 15.9% | ||
| Q3 25 | 27.4% | 18.2% | ||
| Q2 25 | 25.3% | 17.0% | ||
| Q1 25 | 14.3% | 13.0% | ||
| Q4 24 | 24.4% | 12.5% | ||
| Q3 24 | 25.9% | 14.7% | ||
| Q2 24 | 22.6% | 12.5% | ||
| Q1 24 | — | 9.6% |
净利率MLMSTRL
| Q4 25 | 24.5% | 11.6% | ||
| Q3 25 | 22.4% | 13.4% | ||
| Q2 25 | 18.1% | 11.6% | ||
| Q1 25 | 8.6% | 9.2% | ||
| Q4 24 | 18.0% | 22.7% | ||
| Q3 24 | 19.2% | 10.3% | ||
| Q2 24 | 16.7% | 8.9% | ||
| Q1 24 | 83.5% | 7.1% |
每股收益（稀释后）MLMSTRL
| Q4 25 | $4.59 | $2.82 | ||
| Q3 25 | $6.85 | $2.97 | ||
| Q2 25 | $5.43 | $2.31 | ||
| Q1 25 | $1.90 | $1.28 | ||
| Q4 24 | $4.87 | $3.63 | ||
| Q3 24 | $5.91 | $1.97 | ||
| Q2 24 | $4.76 | $1.67 | ||
| Q1 24 | $16.87 | $1.00 |
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 | $390.7M |
| 总债务越低越好 | $5.3B | — |
| 股东权益账面价值 | $10.0B | $1.1B |
| 总资产 | $18.7B | $2.6B |
| 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MLMSTRL
| Q4 25 | $67.0M | $390.7M | ||
| Q3 25 | $57.0M | $306.4M | ||
| Q2 25 | $225.0M | $699.4M | ||
| Q1 25 | $101.0M | $638.6M | ||
| Q4 24 | $670.0M | $664.2M | ||
| Q3 24 | $52.0M | $648.1M | ||
| Q2 24 | $109.0M | $540.0M | ||
| Q1 24 | $2.6B | $480.4M |
总债务MLMSTRL
| 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MLMSTRL
| Q4 25 | $10.0B | $1.1B | ||
| Q3 25 | $9.7B | $1.1B | ||
| Q2 25 | $9.4B | $881.7M | ||
| Q1 25 | $9.1B | $805.4M | ||
| Q4 24 | $9.5B | $808.1M | ||
| Q3 24 | $9.2B | $716.5M | ||
| Q2 24 | $8.8B | $670.7M | ||
| Q1 24 | $8.9B | $644.6M |
总资产MLMSTRL
| Q4 25 | $18.7B | $2.6B | ||
| Q3 25 | $18.7B | $2.6B | ||
| Q2 25 | $18.1B | $2.2B | ||
| Q1 25 | $17.7B | $2.0B | ||
| Q4 24 | $18.2B | $2.0B | ||
| Q3 24 | $16.5B | $2.0B | ||
| Q2 24 | $16.3B | $2.0B | ||
| Q1 24 | $16.2B | $1.8B |
负债/权益比MLMSTRL
| 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 | $186.1M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $159.7M |
| 自由现金流率自由现金流/营收 | 37.2% | 21.1% |
| 资本支出强度资本支出/营收 | 18.0% | 3.5% |
| 现金转化率经营现金流/净利润 | 2.25× | 2.12× |
| 过去12个月自由现金流最近4个季度 | $978.0M | $362.7M |
8季度趋势，按日历期对齐
经营现金流MLMSTRL
| Q4 25 | $629.0M | $186.1M | ||
| Q3 25 | $551.0M | $83.6M | ||
| Q2 25 | $387.0M | $85.4M | ||
| Q1 25 | $218.0M | $84.9M | ||
| Q4 24 | $686.0M | $174.3M | ||
| Q3 24 | $600.0M | $152.3M | ||
| Q2 24 | $1.0M | $121.0M | ||
| Q1 24 | $172.0M | $49.6M |
自由现金流MLMSTRL
| Q4 25 | $424.0M | $159.7M | ||
| Q3 25 | $361.0M | $64.0M | ||
| Q2 25 | $208.0M | $72.1M | ||
| Q1 25 | $-15.0M | $67.0M | ||
| Q4 24 | $453.0M | $158.6M | ||
| Q3 24 | $317.0M | $138.3M | ||
| Q2 24 | $-138.0M | $92.1M | ||
| Q1 24 | $-28.0M | $27.2M |
自由现金流率MLMSTRL
| Q4 25 | 37.2% | 21.1% | ||
| Q3 25 | 19.6% | 9.3% | ||
| Q2 25 | 11.5% | 11.7% | ||
| Q1 25 | -1.1% | 15.5% | ||
| Q4 24 | 27.8% | 31.8% | ||
| Q3 24 | 16.8% | 23.3% | ||
| Q2 24 | -7.8% | 15.8% | ||
| Q1 24 | -2.2% | 6.2% |
资本支出强度MLMSTRL
| Q4 25 | 18.0% | 3.5% | ||
| Q3 25 | 10.3% | 2.9% | ||
| Q2 25 | 9.9% | 2.2% | ||
| Q1 25 | 17.2% | 4.2% | ||
| Q4 24 | 14.3% | 3.1% | ||
| Q3 24 | 15.0% | 2.4% | ||
| Q2 24 | 7.9% | 5.0% | ||
| Q1 24 | 16.0% | 5.1% |
现金转化率MLMSTRL
| Q4 25 | 2.25× | 2.12× | ||
| Q3 25 | 1.33× | 0.91× | ||
| Q2 25 | 1.18× | 1.20× | ||
| Q1 25 | 1.88× | 2.15× | ||
| Q4 24 | 2.34× | 1.54× | ||
| Q3 24 | 1.65× | 2.48× | ||
| Q2 24 | 0.00× | 2.33× | ||
| Q1 24 | 0.16× | 1.60× |
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% |
STRL
| Lump Sum | $464.9M | 62% |
| Heavy Highway | $99.6M | 13% |
| Residential Construction | $70.4M | 9% |
| Road And Highway Builders LLC | $52.4M | 7% |
| Other Revenue | $36.6M | 5% |
| Aviation | $16.6M | 2% |
| Commercial | $11.4M | 2% |
| Related Party | $600.0K | 0% |
