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Martin Marietta Materials（MLM）与Toast, Inc.（TOST）财务数据对比。点击上方公司名可切换其他公司
Toast, Inc.的季度营收约是Martin Marietta Materials的1.4倍（$1.6B vs $1.1B），Martin Marietta Materials净利率更高（24.5% vs 6.2%，领先18.3%），Toast, Inc.同比增速更快（22.0% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $178.0M），过去两年Toast, Inc.的营收复合增速更高（23.3% 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。
Toast, Inc.是总部位于美国马萨诸塞州波士顿的云餐饮管理软件企业，主打基于安卓操作系统研发的一体化销售点（POS）系统，可为餐饮商家提供涵盖收银、订单管理等在内的全场景门店经营解决方案。
MLM vs TOST — 直观对比
营收规模更大
TOST
是对方的1.4倍
$1.1B
营收增速更快
TOST
高出52.2%
-30.1%
净利率更高
MLM
高出18.3%
6.2%
自由现金流更多
MLM
多$246.0M
$178.0M
两年增速更快
TOST
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.6B |
| 净利润 | $279.0M | $101.0M |
| 毛利率 | 35.0% | 25.9% |
| 营业利润率 | 24.6% | 5.2% |
| 净利率 | 24.5% | 6.2% |
| 营收同比 | -30.1% | 22.0% |
| 净利润同比 | -4.8% | 215.6% |
| 每股收益（稀释后） | $4.59 | $0.18 |
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MLMTOST
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $1.8B | $1.6B | ||
| Q2 25 | $1.8B | $1.6B | ||
| Q1 25 | $1.4B | $1.3B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.9B | $1.3B | ||
| Q2 24 | $1.8B | $1.2B | ||
| Q1 24 | $1.3B | $1.1B |
净利润MLMTOST
| Q4 25 | $279.0M | $101.0M | ||
| Q3 25 | $414.0M | $105.0M | ||
| Q2 25 | $328.0M | $80.0M | ||
| Q1 25 | $116.0M | $56.0M | ||
| Q4 24 | $293.0M | $32.0M | ||
| Q3 24 | $363.0M | $56.0M | ||
| Q2 24 | $294.0M | $14.0M | ||
| Q1 24 | $1.0B | $-83.0M |
毛利率MLMTOST
| Q4 25 | 35.0% | 25.9% | ||
| Q3 25 | 33.1% | 26.5% | ||
| Q2 25 | 30.0% | 25.3% | ||
| Q1 25 | 24.8% | 25.9% | ||
| Q4 24 | 30.0% | 24.9% | ||
| Q3 24 | 31.7% | 24.7% | ||
| Q2 24 | 29.3% | 23.0% | ||
| Q1 24 | 21.7% | 23.2% |
营业利润率MLMTOST
| Q4 25 | 24.6% | 5.2% | ||
| Q3 25 | 27.4% | 5.1% | ||
| Q2 25 | 25.3% | 5.2% | ||
| Q1 25 | 14.3% | 3.2% | ||
| Q4 24 | 24.4% | 2.5% | ||
| Q3 24 | 25.9% | 2.6% | ||
| Q2 24 | 22.6% | 0.4% | ||
| Q1 24 | — | -5.2% |
净利率MLMTOST
| Q4 25 | 24.5% | 6.2% | ||
| Q3 25 | 22.4% | 6.4% | ||
| Q2 25 | 18.1% | 5.2% | ||
| Q1 25 | 8.6% | 4.2% | ||
| Q4 24 | 18.0% | 2.4% | ||
| Q3 24 | 19.2% | 4.3% | ||
| Q2 24 | 16.7% | 1.1% | ||
| Q1 24 | 83.5% | -7.7% |
每股收益（稀释后）MLMTOST
| Q4 25 | $4.59 | $0.18 | ||
| Q3 25 | $6.85 | $0.16 | ||
| Q2 25 | $5.43 | $0.13 | ||
| Q1 25 | $1.90 | $0.09 | ||
| Q4 24 | $4.87 | $0.09 | ||
| Q3 24 | $5.91 | $0.07 | ||
| Q2 24 | $4.76 | $0.02 | ||
| Q1 24 | $16.87 | $-0.15 |
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 | $1.4B |
| 总债务越低越好 | $5.3B | — |
| 股东权益账面价值 | $10.0B | $2.1B |
| 总资产 | $18.7B | $3.1B |
| 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MLMTOST
| Q4 25 | $67.0M | $1.4B | ||
| Q3 25 | $57.0M | $1.4B | ||
| Q2 25 | $225.0M | $1.2B | ||
| Q1 25 | $101.0M | $1.0B | ||
| Q4 24 | $670.0M | $903.0M | ||
| Q3 24 | $52.0M | $761.0M | ||
| Q2 24 | $109.0M | $691.0M | ||
| Q1 24 | $2.6B | $578.0M |
总债务MLMTOST
| 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MLMTOST
| Q4 25 | $10.0B | $2.1B | ||
| Q3 25 | $9.7B | $2.0B | ||
| Q2 25 | $9.4B | $1.8B | ||
| Q1 25 | $9.1B | $1.7B | ||
| Q4 24 | $9.5B | $1.5B | ||
| Q3 24 | $9.2B | $1.4B | ||
| Q2 24 | $8.8B | $1.3B | ||
| Q1 24 | $8.9B | $1.2B |
总资产MLMTOST
| Q4 25 | $18.7B | $3.1B | ||
| Q3 25 | $18.7B | $3.0B | ||
| Q2 25 | $18.1B | $2.8B | ||
| Q1 25 | $17.7B | $2.6B | ||
| Q4 24 | $18.2B | $2.4B | ||
| Q3 24 | $16.5B | $2.2B | ||
| Q2 24 | $16.3B | $2.2B | ||
| Q1 24 | $16.2B | $2.1B |
负债/权益比MLMTOST
| 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 | $194.0M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $178.0M |
| 自由现金流率自由现金流/营收 | 37.2% | 10.9% |
| 资本支出强度资本支出/营收 | 18.0% | 1.0% |
| 现金转化率经营现金流/净利润 | 2.25× | 1.92× |
| 过去12个月自由现金流最近4个季度 | $978.0M | $608.0M |
8季度趋势，按日历期对齐
经营现金流MLMTOST
| Q4 25 | $629.0M | $194.0M | ||
| Q3 25 | $551.0M | $165.0M | ||
| Q2 25 | $387.0M | $223.0M | ||
| Q1 25 | $218.0M | $79.0M | ||
| Q4 24 | $686.0M | $147.0M | ||
| Q3 24 | $600.0M | $109.0M | ||
| Q2 24 | $1.0M | $124.0M | ||
| Q1 24 | $172.0M | $-20.0M |
自由现金流MLMTOST
| Q4 25 | $424.0M | $178.0M | ||
| Q3 25 | $361.0M | $153.0M | ||
| Q2 25 | $208.0M | $208.0M | ||
| Q1 25 | $-15.0M | $69.0M | ||
| Q4 24 | $453.0M | $134.0M | ||
| Q3 24 | $317.0M | $97.0M | ||
| Q2 24 | $-138.0M | $108.0M | ||
| Q1 24 | $-28.0M | $-33.0M |
自由现金流率MLMTOST
| Q4 25 | 37.2% | 10.9% | ||
| Q3 25 | 19.6% | 9.4% | ||
| Q2 25 | 11.5% | 13.4% | ||
| Q1 25 | -1.1% | 5.2% | ||
| Q4 24 | 27.8% | 10.0% | ||
| Q3 24 | 16.8% | 7.4% | ||
| Q2 24 | -7.8% | 8.7% | ||
| Q1 24 | -2.2% | -3.1% |
资本支出强度MLMTOST
| Q4 25 | 18.0% | 1.0% | ||
| Q3 25 | 10.3% | 0.7% | ||
| Q2 25 | 9.9% | 1.0% | ||
| Q1 25 | 17.2% | 0.7% | ||
| Q4 24 | 14.3% | 1.0% | ||
| Q3 24 | 15.0% | 0.9% | ||
| Q2 24 | 7.9% | 1.3% | ||
| Q1 24 | 16.0% | 1.2% |
现金转化率MLMTOST
| Q4 25 | 2.25× | 1.92× | ||
| Q3 25 | 1.33× | 1.57× | ||
| Q2 25 | 1.18× | 2.79× | ||
| Q1 25 | 1.88× | 1.41× | ||
| Q4 24 | 2.34× | 4.59× | ||
| Q3 24 | 1.65× | 1.95× | ||
| Q2 24 | 0.00× | 8.86× | ||
| Q1 24 | 0.16× | — |
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% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
