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Martin Marietta Materials（MLM）与Tyler Technologies（TYL）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Tyler Technologies的1.9倍（$1.1B vs $613.5M），Martin Marietta Materials净利率更高（24.5% vs 13.2%，领先11.2%），Tyler Technologies同比增速更快（8.6% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $2.0M），过去两年Tyler Technologies的营收复合增速更高（6.5% 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。
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
MLM vs TYL — 直观对比
营收规模更大
MLM
是对方的1.9倍
$613.5M
营收增速更快
TYL
高出38.7%
-30.1%
净利率更高
MLM
高出11.2%
13.2%
自由现金流更多
MLM
多$422.0M
$2.0M
两年增速更快
TYL
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $613.5M |
| 净利润 | $279.0M | $81.2M |
| 毛利率 | 35.0% | 48.3% |
| 营业利润率 | 24.6% | 16.3% |
| 净利率 | 24.5% | 13.2% |
| 营收同比 | -30.1% | 8.6% |
| 净利润同比 | -4.8% | — |
| 每股收益（稀释后） | $4.59 | $1.88 |
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MLMTYL
| Q1 26 | — | $613.5M | ||
| Q4 25 | $1.1B | $575.2M | ||
| Q3 25 | $1.8B | $595.9M | ||
| Q2 25 | $1.8B | $596.1M | ||
| Q1 25 | $1.4B | $565.2M | ||
| Q4 24 | $1.6B | $541.1M | ||
| Q3 24 | $1.9B | $543.3M | ||
| Q2 24 | $1.8B | $541.0M |
净利润MLMTYL
| Q1 26 | — | $81.2M | ||
| Q4 25 | $279.0M | $65.5M | ||
| Q3 25 | $414.0M | $84.4M | ||
| Q2 25 | $328.0M | $84.6M | ||
| Q1 25 | $116.0M | $81.1M | ||
| Q4 24 | $293.0M | $65.2M | ||
| Q3 24 | $363.0M | $75.9M | ||
| Q2 24 | $294.0M | $67.7M |
毛利率MLMTYL
| Q1 26 | — | 48.3% | ||
| Q4 25 | 35.0% | 45.5% | ||
| Q3 25 | 33.1% | 47.2% | ||
| Q2 25 | 30.0% | 45.8% | ||
| Q1 25 | 24.8% | 47.3% | ||
| Q4 24 | 30.0% | 43.8% | ||
| Q3 24 | 31.7% | 43.7% | ||
| Q2 24 | 29.3% | 44.0% |
营业利润率MLMTYL
| Q1 26 | — | 16.3% | ||
| Q4 25 | 24.6% | 13.0% | ||
| Q3 25 | 27.4% | 16.4% | ||
| Q2 25 | 25.3% | 16.0% | ||
| Q1 25 | 14.3% | 15.8% | ||
| Q4 24 | 24.4% | 13.2% | ||
| Q3 24 | 25.9% | 15.2% | ||
| Q2 24 | 22.6% | 14.4% |
净利率MLMTYL
| Q1 26 | — | 13.2% | ||
| Q4 25 | 24.5% | 11.4% | ||
| Q3 25 | 22.4% | 14.2% | ||
| Q2 25 | 18.1% | 14.2% | ||
| Q1 25 | 8.6% | 14.3% | ||
| Q4 24 | 18.0% | 12.1% | ||
| Q3 24 | 19.2% | 14.0% | ||
| Q2 24 | 16.7% | 12.5% |
每股收益（稀释后）MLMTYL
| Q1 26 | — | $1.88 | ||
| Q4 25 | $4.59 | $1.50 | ||
| Q3 25 | $6.85 | $1.93 | ||
| Q2 25 | $5.43 | $1.93 | ||
| Q1 25 | $1.90 | $1.84 | ||
| Q4 24 | $4.87 | $1.48 | ||
| Q3 24 | $5.91 | $1.74 | ||
| Q2 24 | $4.76 | $1.57 |
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 | $346.4M |
| 总债务越低越好 | $5.3B | — |
| 股东权益账面价值 | $10.0B | $3.6B |
| 总资产 | $18.7B | $4.8B |
| 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MLMTYL
| Q1 26 | — | $346.4M | ||
| Q4 25 | $67.0M | $1.1B | ||
| Q3 25 | $57.0M | $950.8M | ||
| Q2 25 | $225.0M | $892.3M | ||
| Q1 25 | $101.0M | $807.4M | ||
| Q4 24 | $670.0M | $768.0M | ||
| Q3 24 | $52.0M | $544.3M | ||
| Q2 24 | $109.0M | $258.0M |
总债务MLMTYL
| Q1 26 | — | — | ||
| Q4 25 | $5.3B | $599.7M | ||
| Q3 25 | $5.5B | $599.2M | ||
| Q2 25 | $5.4B | $598.8M | ||
| Q1 25 | $5.4B | $598.4M | ||
| Q4 24 | $5.4B | $597.9M | ||
| Q3 24 | $4.0B | $597.5M | ||
| Q2 24 | $4.3B | $597.1M |
股东权益MLMTYL
| Q1 26 | — | $3.6B | ||
| Q4 25 | $10.0B | $3.7B | ||
| Q3 25 | $9.7B | $3.6B | ||
| Q2 25 | $9.4B | $3.6B | ||
| Q1 25 | $9.1B | $3.5B | ||
| Q4 24 | $9.5B | $3.4B | ||
| Q3 24 | $9.2B | $3.3B | ||
| Q2 24 | $8.8B | $3.1B |
总资产MLMTYL
| Q1 26 | — | $4.8B | ||
| Q4 25 | $18.7B | $5.6B | ||
| Q3 25 | $18.7B | $5.5B | ||
| Q2 25 | $18.1B | $5.4B | ||
| Q1 25 | $17.7B | $5.2B | ||
| Q4 24 | $18.2B | $5.2B | ||
| Q3 24 | $16.5B | $5.0B | ||
| Q2 24 | $16.3B | $4.8B |
负债/权益比MLMTYL
| Q1 26 | — | — | ||
| Q4 25 | 0.53× | 0.16× | ||
| Q3 25 | 0.57× | 0.17× | ||
| Q2 25 | 0.58× | 0.16× | ||
| Q1 25 | 0.60× | 0.17× | ||
| Q4 24 | 0.57× | 0.18× | ||
| Q3 24 | 0.44× | 0.18× | ||
| Q2 24 | 0.49× | 0.19× |
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 | $107.3M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $2.0M |
| 自由现金流率自由现金流/营收 | 37.2% | 0.3% |
| 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× | 1.32× |
| 过去12个月自由现金流最近4个季度 | $978.0M | $585.7M |
8季度趋势，按日历期对齐
经营现金流MLMTYL
| Q1 26 | — | $107.3M | ||
| Q4 25 | $629.0M | $243.9M | ||
| Q3 25 | $551.0M | $255.2M | ||
| Q2 25 | $387.0M | $98.3M | ||
| Q1 25 | $218.0M | $56.2M | ||
| Q4 24 | $686.0M | $224.8M | ||
| Q3 24 | $600.0M | $263.7M | ||
| Q2 24 | $1.0M | $64.3M |
自由现金流MLMTYL
| Q1 26 | — | $2.0M | ||
| Q4 25 | $424.0M | $239.6M | ||
| Q3 25 | $361.0M | $251.3M | ||
| Q2 25 | $208.0M | $92.8M | ||
| Q1 25 | $-15.0M | $53.8M | ||
| Q4 24 | $453.0M | $221.0M | ||
| Q3 24 | $317.0M | $260.8M | ||
| Q2 24 | $-138.0M | $57.7M |
自由现金流率MLMTYL
| Q1 26 | — | 0.3% | ||
| Q4 25 | 37.2% | 41.7% | ||
| Q3 25 | 19.6% | 42.2% | ||
| Q2 25 | 11.5% | 15.6% | ||
| Q1 25 | -1.1% | 9.5% | ||
| Q4 24 | 27.8% | 40.8% | ||
| Q3 24 | 16.8% | 48.0% | ||
| Q2 24 | -7.8% | 10.7% |
资本支出强度MLMTYL
| Q1 26 | — | — | ||
| Q4 25 | 18.0% | 0.8% | ||
| Q3 25 | 10.3% | 0.7% | ||
| Q2 25 | 9.9% | 0.9% | ||
| Q1 25 | 17.2% | 0.4% | ||
| Q4 24 | 14.3% | 0.7% | ||
| Q3 24 | 15.0% | 0.5% | ||
| Q2 24 | 7.9% | 1.2% |
现金转化率MLMTYL
| Q1 26 | — | 1.32× | ||
| Q4 25 | 2.25× | 3.72× | ||
| Q3 25 | 1.33× | 3.02× | ||
| Q2 25 | 1.18× | 1.16× | ||
| Q1 25 | 1.88× | 0.69× | ||
| Q4 24 | 2.34× | 3.45× | ||
| Q3 24 | 1.65× | 3.47× | ||
| Q2 24 | 0.00× | 0.95× |
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% |
TYL
| Subscriptions | $429.7M | 70% |
| Maintenance | $108.9M | 18% |
| Other | $74.9M | 12% |
