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Martin Marietta Materials（MLM）与Ubiquiti Inc.（UI）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Ubiquiti Inc.的1.4倍（$1.1B vs $814.9M），Ubiquiti Inc.净利率更高（28.7% vs 24.5%，领先4.2%），Ubiquiti Inc.同比增速更快（35.8% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $260.3M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% 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。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
MLM vs UI — 直观对比
营收规模更大
MLM
是对方的1.4倍
$814.9M
营收增速更快
UI
高出66.0%
-30.1%
净利率更高
UI
高出4.2%
24.5%
自由现金流更多
MLM
多$163.7M
$260.3M
两年增速更快
UI
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $814.9M |
| 净利润 | $279.0M | $233.6M |
| 毛利率 | 35.0% | 45.9% |
| 营业利润率 | 24.6% | 35.9% |
| 净利率 | 24.5% | 28.7% |
| 营收同比 | -30.1% | 35.8% |
| 净利润同比 | -4.8% | 70.8% |
| 每股收益（稀释后） | $4.59 | $3.86 |
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MLMUI
| Q4 25 | $1.1B | $814.9M | ||
| Q3 25 | $1.8B | $733.8M | ||
| Q2 25 | $1.8B | $759.2M | ||
| Q1 25 | $1.4B | $664.2M | ||
| Q4 24 | $1.6B | $599.9M | ||
| Q3 24 | $1.9B | $550.3M | ||
| Q2 24 | $1.8B | $507.5M | ||
| Q1 24 | $1.3B | $493.0M |
净利润MLMUI
| Q4 25 | $279.0M | $233.6M | ||
| Q3 25 | $414.0M | $207.9M | ||
| Q2 25 | $328.0M | $266.7M | ||
| Q1 25 | $116.0M | $180.4M | ||
| Q4 24 | $293.0M | $136.8M | ||
| Q3 24 | $363.0M | $128.0M | ||
| Q2 24 | $294.0M | $103.8M | ||
| Q1 24 | $1.0B | $76.3M |
毛利率MLMUI
| Q4 25 | 35.0% | 45.9% | ||
| Q3 25 | 33.1% | 46.0% | ||
| Q2 25 | 30.0% | 45.1% | ||
| Q1 25 | 24.8% | 44.5% | ||
| Q4 24 | 30.0% | 41.2% | ||
| Q3 24 | 31.7% | 42.1% | ||
| Q2 24 | 29.3% | 40.2% | ||
| Q1 24 | 21.7% | 35.3% |
营业利润率MLMUI
| Q4 25 | 24.6% | 35.9% | ||
| Q3 25 | 27.4% | 35.7% | ||
| Q2 25 | 25.3% | 34.4% | ||
| Q1 25 | 14.3% | 34.2% | ||
| Q4 24 | 24.4% | 29.8% | ||
| Q3 24 | 25.9% | 30.7% | ||
| Q2 24 | 22.6% | 27.3% | ||
| Q1 24 | — | 22.6% |
净利率MLMUI
| Q4 25 | 24.5% | 28.7% | ||
| Q3 25 | 22.4% | 28.3% | ||
| Q2 25 | 18.1% | 35.1% | ||
| Q1 25 | 8.6% | 27.2% | ||
| Q4 24 | 18.0% | 22.8% | ||
| Q3 24 | 19.2% | 23.3% | ||
| Q2 24 | 16.7% | 20.5% | ||
| Q1 24 | 83.5% | 15.5% |
每股收益（稀释后）MLMUI
| Q4 25 | $4.59 | $3.86 | ||
| Q3 25 | $6.85 | $3.43 | ||
| Q2 25 | $5.43 | $4.40 | ||
| Q1 25 | $1.90 | $2.98 | ||
| Q4 24 | $4.87 | $2.26 | ||
| Q3 24 | $5.91 | $2.12 | ||
| Q2 24 | $4.76 | $1.72 | ||
| Q1 24 | $16.87 | $1.26 |
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 | $302.8M |
| 总债务越低越好 | $5.3B | $47.5M |
| 股东权益账面价值 | $10.0B | $1.0B |
| 总资产 | $18.7B | $1.6B |
| 负债/权益比越低杠杆越低 | 0.53× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资MLMUI
| Q4 25 | $67.0M | $302.8M | ||
| Q3 25 | $57.0M | $177.2M | ||
| Q2 25 | $225.0M | $149.7M | ||
| Q1 25 | $101.0M | $151.0M | ||
| Q4 24 | $670.0M | $133.1M | ||
| Q3 24 | $52.0M | $165.2M | ||
| Q2 24 | $109.0M | $126.3M | ||
| Q1 24 | $2.6B | $102.5M |
总债务MLMUI
| Q4 25 | $5.3B | $47.5M | ||
| Q3 25 | $5.5B | $133.8M | ||
| Q2 25 | $5.4B | $250.0M | ||
| Q1 25 | $5.4B | $340.0M | ||
| Q4 24 | $5.4B | $406.3M | ||
| Q3 24 | $4.0B | $552.5M | ||
| Q2 24 | $4.3B | $708.1M | ||
| Q1 24 | $4.3B | $877.5M |
股东权益MLMUI
| Q4 25 | $10.0B | $1.0B | ||
| Q3 25 | $9.7B | $828.4M | ||
| Q2 25 | $9.4B | $668.3M | ||
| Q1 25 | $9.1B | $436.1M | ||
| Q4 24 | $9.5B | $290.4M | ||
| Q3 24 | $9.2B | $188.1M | ||
| Q2 24 | $8.8B | $95.1M | ||
| Q1 24 | $8.9B | $25.9M |
总资产MLMUI
| Q4 25 | $18.7B | $1.6B | ||
| Q3 25 | $18.7B | $1.5B | ||
| Q2 25 | $18.1B | $1.5B | ||
| Q1 25 | $17.7B | $1.3B | ||
| Q4 24 | $18.2B | $1.2B | ||
| Q3 24 | $16.5B | $1.2B | ||
| Q2 24 | $16.3B | $1.2B | ||
| Q1 24 | $16.2B | $1.2B |
负债/权益比MLMUI
| Q4 25 | 0.53× | 0.05× | ||
| Q3 25 | 0.57× | 0.16× | ||
| Q2 25 | 0.58× | 0.37× | ||
| Q1 25 | 0.60× | 0.78× | ||
| Q4 24 | 0.57× | 1.40× | ||
| Q3 24 | 0.44× | 2.94× | ||
| Q2 24 | 0.49× | 7.45× | ||
| Q1 24 | 0.49× | 33.92× |
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 | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $260.3M |
| 自由现金流率自由现金流/营收 | 37.2% | 31.9% |
| 资本支出强度资本支出/营收 | 18.0% | 0.4% |
| 现金转化率经营现金流/净利润 | 2.25× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $978.0M | $699.5M |
8季度趋势，按日历期对齐
经营现金流MLMUI
| Q4 25 | $629.0M | $263.9M | ||
| Q3 25 | $551.0M | $198.5M | ||
| Q2 25 | $387.0M | $130.4M | ||
| Q1 25 | $218.0M | $123.6M | ||
| Q4 24 | $686.0M | $152.4M | ||
| Q3 24 | $600.0M | $233.7M | ||
| Q2 24 | $1.0M | $231.4M | ||
| Q1 24 | $172.0M | $163.9M |
自由现金流MLMUI
| Q4 25 | $424.0M | $260.3M | ||
| Q3 25 | $361.0M | $193.3M | ||
| Q2 25 | $208.0M | $125.2M | ||
| Q1 25 | $-15.0M | $120.7M | ||
| Q4 24 | $453.0M | $150.4M | ||
| Q3 24 | $317.0M | $231.1M | ||
| Q2 24 | $-138.0M | $229.5M | ||
| Q1 24 | $-28.0M | $160.6M |
自由现金流率MLMUI
| Q4 25 | 37.2% | 31.9% | ||
| Q3 25 | 19.6% | 26.3% | ||
| Q2 25 | 11.5% | 16.5% | ||
| Q1 25 | -1.1% | 18.2% | ||
| Q4 24 | 27.8% | 25.1% | ||
| Q3 24 | 16.8% | 42.0% | ||
| Q2 24 | -7.8% | 45.2% | ||
| Q1 24 | -2.2% | 32.6% |
资本支出强度MLMUI
| Q4 25 | 18.0% | 0.4% | ||
| Q3 25 | 10.3% | 0.7% | ||
| Q2 25 | 9.9% | 0.7% | ||
| Q1 25 | 17.2% | 0.4% | ||
| Q4 24 | 14.3% | 0.3% | ||
| Q3 24 | 15.0% | 0.5% | ||
| Q2 24 | 7.9% | 0.4% | ||
| Q1 24 | 16.0% | 0.7% |
现金转化率MLMUI
| Q4 25 | 2.25× | 1.13× | ||
| Q3 25 | 1.33× | 0.95× | ||
| Q2 25 | 1.18× | 0.49× | ||
| Q1 25 | 1.88× | 0.68× | ||
| Q4 24 | 2.34× | 1.11× | ||
| Q3 24 | 1.65× | 1.83× | ||
| Q2 24 | 0.00× | 2.23× | ||
| Q1 24 | 0.16× | 2.15× |
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% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
