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Martin Marietta Materials（MLM）与维多利亚的秘密（VSCO）财务数据对比。点击上方公司名可切换其他公司
维多利亚的秘密的季度营收约是Martin Marietta Materials的1.1倍（$1.5B vs $1.4B），Martin Marietta Materials净利率更高（111.1% vs -2.5%，领先113.6%），Martin Marietta Materials同比增速更快（17.0% vs 9.3%），过去两年Martin Marietta Materials的营收复合增速更高（-12.1% vs -15.9%）
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。
维多利亚的秘密是美国知名内衣、服饰及美妆零售商，1977年由斯坦福大学研究生罗伊·雷蒙德与妻子盖伊共同创立，1982年旗下5家内衣门店被莱斯·韦克斯纳收购。韦克斯纳随后快速将门店布局到全美各大购物中心，到90年代初已在全国拥有350家门店，销售额达10亿美元，成为美国最大的内衣零售商。
MLM vs VSCO — 直观对比
营收规模更大
VSCO
是对方的1.1倍
$1.4B
营收增速更快
MLM
高出7.7%
9.3%
净利率更高
MLM
高出113.6%
-2.5%
两年增速更快
MLM
近两年复合增速
-15.9%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.5B |
| 净利润 | $1.5B | $-37.0M |
| 毛利率 | 22.8% | 36.4% |
| 营业利润率 | 11.9% | -1.3% |
| 净利率 | 111.1% | -2.5% |
| 营收同比 | 17.0% | 9.3% |
| 净利润同比 | — | 33.9% |
| 每股收益（稀释后） | — | $-0.46 |
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MLMVSCO
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $1.8B | $1.5B | ||
| Q2 25 | $1.8B | $1.4B | ||
| Q1 25 | $1.4B | $2.1B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.9B | $1.4B | ||
| Q2 24 | $1.8B | $1.4B |
净利润MLMVSCO
| Q1 26 | $1.5B | — | ||
| Q4 25 | $279.0M | $-37.0M | ||
| Q3 25 | $414.0M | $16.0M | ||
| Q2 25 | $328.0M | $-2.0M | ||
| Q1 25 | $116.0M | $193.0M | ||
| Q4 24 | $293.0M | $-56.0M | ||
| Q3 24 | $363.0M | $32.0M | ||
| Q2 24 | $294.0M | $-4.0M |
毛利率MLMVSCO
| Q1 26 | 22.8% | — | ||
| Q4 25 | 35.0% | 36.4% | ||
| Q3 25 | 33.1% | 35.6% | ||
| Q2 25 | 30.0% | 35.0% | ||
| Q1 25 | 24.8% | 38.6% | ||
| Q4 24 | 30.0% | 34.7% | ||
| Q3 24 | 31.7% | 35.4% | ||
| Q2 24 | 29.3% | 36.9% |
营业利润率MLMVSCO
| Q1 26 | 11.9% | — | ||
| Q4 25 | 24.6% | -1.3% | ||
| Q3 25 | 27.4% | 2.8% | ||
| Q2 25 | 25.3% | 1.5% | ||
| Q1 25 | 14.3% | 12.8% | ||
| Q4 24 | 24.4% | -3.5% | ||
| Q3 24 | 25.9% | 4.4% | ||
| Q2 24 | 22.6% | 1.9% |
净利率MLMVSCO
| Q1 26 | 111.1% | — | ||
| Q4 25 | 24.5% | -2.5% | ||
| Q3 25 | 22.4% | 1.1% | ||
| Q2 25 | 18.1% | -0.1% | ||
| Q1 25 | 8.6% | 9.2% | ||
| Q4 24 | 18.0% | -4.2% | ||
| Q3 24 | 19.2% | 2.3% | ||
| Q2 24 | 16.7% | -0.3% |
每股收益（稀释后）MLMVSCO
| Q1 26 | — | — | ||
| Q4 25 | $4.59 | $-0.46 | ||
| Q3 25 | $6.85 | $0.20 | ||
| Q2 25 | $5.43 | $-0.02 | ||
| Q1 25 | $1.90 | $2.41 | ||
| Q4 24 | $4.87 | $-0.71 | ||
| Q3 24 | $5.91 | $0.40 | ||
| Q2 24 | $4.76 | $-0.05 |
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 | $273.0M | $249.0M |
| 总债务越低越好 | $0 | — |
| 股东权益账面价值 | $11.3B | $653.0M |
| 总资产 | $20.5B | $5.1B |
| 负债/权益比越低杠杆越低 | 0.00× | — |
8季度趋势，按日历期对齐
现金及短期投资MLMVSCO
| Q1 26 | $273.0M | — | ||
| Q4 25 | $67.0M | $249.0M | ||
| Q3 25 | $57.0M | $188.0M | ||
| Q2 25 | $225.0M | $138.0M | ||
| Q1 25 | $101.0M | $227.0M | ||
| Q4 24 | $670.0M | $161.0M | ||
| Q3 24 | $52.0M | $169.0M | ||
| Q2 24 | $109.0M | $105.0M |
总债务MLMVSCO
| Q1 26 | $0 | — | ||
| 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 | — |
股东权益MLMVSCO
| Q1 26 | $11.3B | — | ||
| Q4 25 | $10.0B | $653.0M | ||
| Q3 25 | $9.7B | $680.0M | ||
| Q2 25 | $9.4B | $645.0M | ||
| Q1 25 | $9.1B | $640.0M | ||
| Q4 24 | $9.5B | $429.0M | ||
| Q3 24 | $9.2B | $472.0M | ||
| Q2 24 | $8.8B | $423.0M |
总资产MLMVSCO
| Q1 26 | $20.5B | — | ||
| Q4 25 | $18.7B | $5.1B | ||
| Q3 25 | $18.7B | $4.8B | ||
| Q2 25 | $18.1B | $4.6B | ||
| Q1 25 | $17.7B | $4.5B | ||
| Q4 24 | $18.2B | $4.9B | ||
| Q3 24 | $16.5B | $4.6B | ||
| Q2 24 | $16.3B | $4.4B |
负债/权益比MLMVSCO
| Q1 26 | 0.00× | — | ||
| 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× | — |
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 | $227.0M | $-180.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-232.0M |
| 自由现金流率自由现金流/营收 | — | -15.8% |
| 资本支出强度资本支出/营收 | 40.4% | 3.5% |
| 现金转化率经营现金流/净利润 | 0.15× | — |
| 过去12个月自由现金流最近4个季度 | — | $309.0M |
8季度趋势，按日历期对齐
经营现金流MLMVSCO
| Q1 26 | $227.0M | — | ||
| Q4 25 | $629.0M | $-180.0M | ||
| Q3 25 | $551.0M | $156.0M | ||
| Q2 25 | $387.0M | $-150.0M | ||
| Q1 25 | $218.0M | $674.0M | ||
| Q4 24 | $686.0M | $-248.0M | ||
| Q3 24 | $600.0M | $115.0M | ||
| Q2 24 | $1.0M | $-116.0M |
自由现金流MLMVSCO
| Q1 26 | — | — | ||
| Q4 25 | $424.0M | $-232.0M | ||
| Q3 25 | $361.0M | $88.0M | ||
| Q2 25 | $208.0M | $-193.0M | ||
| Q1 25 | $-15.0M | $646.0M | ||
| Q4 24 | $453.0M | $-299.0M | ||
| Q3 24 | $317.0M | $55.0M | ||
| Q2 24 | $-138.0M | $-155.0M |
自由现金流率MLMVSCO
| Q1 26 | — | — | ||
| Q4 25 | 37.2% | -15.8% | ||
| Q3 25 | 19.6% | 6.0% | ||
| Q2 25 | 11.5% | -14.3% | ||
| Q1 25 | -1.1% | 30.7% | ||
| Q4 24 | 27.8% | -22.2% | ||
| Q3 24 | 16.8% | 3.9% | ||
| Q2 24 | -7.8% | -11.4% |
资本支出强度MLMVSCO
| Q1 26 | 40.4% | — | ||
| Q4 25 | 18.0% | 3.5% | ||
| Q3 25 | 10.3% | 4.7% | ||
| Q2 25 | 9.9% | 3.2% | ||
| Q1 25 | 17.2% | 1.3% | ||
| Q4 24 | 14.3% | 3.8% | ||
| Q3 24 | 15.0% | 4.2% | ||
| Q2 24 | 7.9% | 2.9% |
现金转化率MLMVSCO
| Q1 26 | 0.15× | — | ||
| Q4 25 | 2.25× | — | ||
| Q3 25 | 1.33× | 9.75× | ||
| Q2 25 | 1.18× | — | ||
| Q1 25 | 1.88× | 3.49× | ||
| Q4 24 | 2.34× | — | ||
| Q3 24 | 1.65× | 3.59× | ||
| Q2 24 | 0.00× | — |
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
暂无分部数据
VSCO
| Sales Channel North America Stores | $778.0M | 53% |
| Sales Channel Directly To Consumer | $429.0M | 29% |
| Sales Channel International | $265.0M | 18% |
| Sales Channel Loyalty And Private Label Credit Card | $19.0M | 1% |
