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Martin Marietta Materials（MLM）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
Martin Marietta Materials的季度营收约是思佳讯的1.1倍（$1.1B vs $1.0B），Martin Marietta Materials净利率更高（24.5% vs 7.6%，领先16.8%），思佳讯同比增速更快（8.6% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $339.0M），过去两年思佳讯的营收复合增速更高（-0.5% 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。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
MLM vs SWKS — 直观对比
营收规模更大
MLM
是对方的1.1倍
$1.0B
营收增速更快
SWKS
高出38.8%
-30.1%
净利率更高
MLM
高出16.8%
7.6%
自由现金流更多
MLM
多$85.0M
$339.0M
两年增速更快
SWKS
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.0B |
| 净利润 | $279.0M | $79.2M |
| 毛利率 | 35.0% | 41.3% |
| 营业利润率 | 24.6% | 10.0% |
| 净利率 | 24.5% | 7.6% |
| 营收同比 | -30.1% | 8.6% |
| 净利润同比 | -4.8% | 15.3% |
| 每股收益（稀释后） | $4.59 | $0.53 |
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MLMSWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.8B | $965.0M | ||
| Q1 25 | $1.4B | $953.2M | ||
| Q4 24 | $1.6B | $1.1B | ||
| Q3 24 | $1.9B | $1.0B | ||
| Q2 24 | $1.8B | $905.5M |
净利润MLMSWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $279.0M | $141.4M | ||
| Q3 25 | $414.0M | — | ||
| Q2 25 | $328.0M | $105.0M | ||
| Q1 25 | $116.0M | $68.7M | ||
| Q4 24 | $293.0M | $162.0M | ||
| Q3 24 | $363.0M | $60.5M | ||
| Q2 24 | $294.0M | $120.9M |
毛利率MLMSWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | 35.0% | 40.7% | ||
| Q3 25 | 33.1% | — | ||
| Q2 25 | 30.0% | 41.6% | ||
| Q1 25 | 24.8% | 41.1% | ||
| Q4 24 | 30.0% | 41.4% | ||
| Q3 24 | 31.7% | 41.9% | ||
| Q2 24 | 29.3% | 40.2% |
营业利润率MLMSWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | 24.6% | 10.1% | ||
| Q3 25 | 27.4% | — | ||
| Q2 25 | 25.3% | 11.5% | ||
| Q1 25 | 14.3% | 10.2% | ||
| Q4 24 | 24.4% | 16.9% | ||
| Q3 24 | 25.9% | 5.8% | ||
| Q2 24 | 22.6% | 14.4% |
净利率MLMSWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | 24.5% | 12.9% | ||
| Q3 25 | 22.4% | — | ||
| Q2 25 | 18.1% | 10.9% | ||
| Q1 25 | 8.6% | 7.2% | ||
| Q4 24 | 18.0% | 15.2% | ||
| Q3 24 | 19.2% | 5.9% | ||
| Q2 24 | 16.7% | 13.4% |
每股收益（稀释后）MLMSWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $4.59 | $0.95 | ||
| Q3 25 | $6.85 | — | ||
| Q2 25 | $5.43 | $0.70 | ||
| Q1 25 | $1.90 | $0.43 | ||
| Q4 24 | $4.87 | $1.00 | ||
| Q3 24 | $5.91 | $0.36 | ||
| Q2 24 | $4.76 | $0.75 |
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 | $1.6B |
| 总债务越低越好 | $5.3B | $496.6M |
| 股东权益账面价值 | $10.0B | $5.8B |
| 总资产 | $18.7B | $7.9B |
| 负债/权益比越低杠杆越低 | 0.53× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资MLMSWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $67.0M | $1.4B | ||
| Q3 25 | $57.0M | — | ||
| Q2 25 | $225.0M | $1.3B | ||
| Q1 25 | $101.0M | $1.5B | ||
| Q4 24 | $670.0M | $1.7B | ||
| Q3 24 | $52.0M | $1.6B | ||
| Q2 24 | $109.0M | $1.3B |
总债务MLMSWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | $5.3B | $496.4M | ||
| Q3 25 | $5.5B | — | ||
| Q2 25 | $5.4B | $496.2M | ||
| Q1 25 | $5.4B | $995.1M | ||
| Q4 24 | $5.4B | $994.7M | ||
| Q3 24 | $4.0B | $994.3M | ||
| Q2 24 | $4.3B | $994.0M |
股东权益MLMSWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $10.0B | $5.8B | ||
| Q3 25 | $9.7B | — | ||
| Q2 25 | $9.4B | $5.7B | ||
| Q1 25 | $9.1B | $5.9B | ||
| Q4 24 | $9.5B | $6.4B | ||
| Q3 24 | $9.2B | $6.3B | ||
| Q2 24 | $8.8B | $6.3B |
总资产MLMSWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $18.7B | $7.9B | ||
| Q3 25 | $18.7B | — | ||
| Q2 25 | $18.1B | $7.7B | ||
| Q1 25 | $17.7B | $7.9B | ||
| Q4 24 | $18.2B | $8.3B | ||
| Q3 24 | $16.5B | $8.3B | ||
| Q2 24 | $16.3B | $8.2B |
负债/权益比MLMSWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | 0.53× | 0.09× | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.58× | 0.09× | ||
| Q1 25 | 0.60× | 0.17× | ||
| Q4 24 | 0.57× | 0.16× | ||
| Q3 24 | 0.44× | 0.16× | ||
| Q2 24 | 0.49× | 0.16× |
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 | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $339.0M |
| 自由现金流率自由现金流/营收 | 37.2% | 32.7% |
| 资本支出强度资本支出/营收 | 18.0% | 5.5% |
| 现金转化率经营现金流/净利润 | 2.25× | 4.99× |
| 过去12个月自由现金流最近4个季度 | $978.0M | $1.1B |
8季度趋势，按日历期对齐
经营现金流MLMSWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $629.0M | $200.0M | ||
| Q3 25 | $551.0M | — | ||
| Q2 25 | $387.0M | $314.2M | ||
| Q1 25 | $218.0M | $409.4M | ||
| Q4 24 | $686.0M | $377.2M | ||
| Q3 24 | $600.0M | $476.1M | ||
| Q2 24 | $1.0M | $273.4M |
自由现金流MLMSWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $424.0M | $144.0M | ||
| Q3 25 | $361.0M | — | ||
| Q2 25 | $208.0M | $252.7M | ||
| Q1 25 | $-15.0M | $370.9M | ||
| Q4 24 | $453.0M | $338.2M | ||
| Q3 24 | $317.0M | $393.3M | ||
| Q2 24 | $-138.0M | $249.0M |
自由现金流率MLMSWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | 37.2% | 13.1% | ||
| Q3 25 | 19.6% | — | ||
| Q2 25 | 11.5% | 26.2% | ||
| Q1 25 | -1.1% | 38.9% | ||
| Q4 24 | 27.8% | 31.7% | ||
| Q3 24 | 16.8% | 38.4% | ||
| Q2 24 | -7.8% | 27.5% |
资本支出强度MLMSWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 18.0% | 5.1% | ||
| Q3 25 | 10.3% | — | ||
| Q2 25 | 9.9% | 6.4% | ||
| Q1 25 | 17.2% | 4.0% | ||
| Q4 24 | 14.3% | 3.6% | ||
| Q3 24 | 15.0% | 8.1% | ||
| Q2 24 | 7.9% | 2.7% |
现金转化率MLMSWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | 2.25× | 1.41× | ||
| Q3 25 | 1.33× | — | ||
| Q2 25 | 1.18× | 2.99× | ||
| Q1 25 | 1.88× | 5.96× | ||
| Q4 24 | 2.34× | 2.33× | ||
| Q3 24 | 1.65× | 7.87× | ||
| Q2 24 | 0.00× | 2.26× |
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% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
