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Martin Marietta Materials（MLM）与WHITE MOUNTAINS INSURANCE GROUP LTD（WTM）财务数据对比。点击上方公司名可切换其他公司
WHITE MOUNTAINS INSURANCE GROUP LTD的季度营收约是Martin Marietta Materials的1.2倍（$1.6B vs $1.4B），Martin Marietta Materials净利率更高（111.1% vs 52.1%，领先59.0%），WHITE MOUNTAINS INSURANCE GROUP LTD同比增速更快（348.0% vs 17.0%），过去两年WHITE MOUNTAINS INSURANCE GROUP LTD的营收复合增速更高（57.4% vs -12.1%）
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。
怀特山保险集团是一家多元化保险及相关金融服务控股企业，总部位于百慕大汉密尔顿，1999年10月25日从美国特拉华州迁册至当前注册地，大部分业务通过旗下保险子公司及其他关联机构开展，覆盖多个保险及金融服务细分赛道。
MLM vs WTM — 直观对比
营收规模更大
WTM
是对方的1.2倍
$1.4B
营收增速更快
WTM
高出331.0%
17.0%
净利率更高
MLM
高出59.0%
52.1%
两年增速更快
WTM
近两年复合增速
-12.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.6B |
| 净利润 | $1.5B | $835.8M |
| 毛利率 | 22.8% | 97.1% |
| 营业利润率 | 11.9% | 56.2% |
| 净利率 | 111.1% | 52.1% |
| 营收同比 | 17.0% | 348.0% |
| 净利润同比 | — | 741.0% |
| 每股收益（稀释后） | — | $325.02 |
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MLMWTM
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $1.8B | $864.2M | ||
| Q2 25 | $1.8B | $689.2M | ||
| Q1 25 | $1.4B | $577.8M | ||
| Q4 24 | $1.6B | $358.0M | ||
| Q3 24 | $1.9B | $839.1M | ||
| Q2 24 | $1.8B | $395.4M |
净利润MLMWTM
| Q1 26 | $1.5B | — | ||
| Q4 25 | $279.0M | $835.8M | ||
| Q3 25 | $414.0M | $113.8M | ||
| Q2 25 | $328.0M | $122.9M | ||
| Q1 25 | $116.0M | $33.9M | ||
| Q4 24 | $293.0M | $-130.4M | ||
| Q3 24 | $363.0M | $179.0M | ||
| Q2 24 | $294.0M | $-54.6M |
毛利率MLMWTM
| Q1 26 | 22.8% | — | ||
| Q4 25 | 35.0% | 97.1% | ||
| Q3 25 | 33.1% | 93.6% | ||
| Q2 25 | 30.0% | 93.8% | ||
| Q1 25 | 24.8% | 98.7% | ||
| Q4 24 | 30.0% | 97.9% | ||
| Q3 24 | 31.7% | 99.1% | ||
| Q2 24 | 29.3% | 98.2% |
营业利润率MLMWTM
| Q1 26 | 11.9% | — | ||
| Q4 25 | 24.6% | 56.2% | ||
| Q3 25 | 27.4% | 20.7% | ||
| Q2 25 | 25.3% | 25.6% | ||
| Q1 25 | 14.3% | 12.5% | ||
| Q4 24 | 24.4% | -33.7% | ||
| Q3 24 | 25.9% | 28.5% | ||
| Q2 24 | 22.6% | -8.8% |
净利率MLMWTM
| Q1 26 | 111.1% | — | ||
| Q4 25 | 24.5% | 52.1% | ||
| Q3 25 | 22.4% | 13.2% | ||
| Q2 25 | 18.1% | 17.8% | ||
| Q1 25 | 8.6% | 5.9% | ||
| Q4 24 | 18.0% | -36.4% | ||
| Q3 24 | 19.2% | 21.3% | ||
| Q2 24 | 16.7% | -13.8% |
每股收益（稀释后）MLMWTM
| Q1 26 | — | — | ||
| Q4 25 | $4.59 | $325.02 | ||
| Q3 25 | $6.85 | $44.18 | ||
| Q2 25 | $5.43 | $47.75 | ||
| Q1 25 | $1.90 | $13.19 | ||
| Q4 24 | $4.87 | $-50.98 | ||
| Q3 24 | $5.91 | $69.68 | ||
| Q2 24 | $4.76 | $-21.24 |
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 | — |
| 总债务越低越好 | $0 | $837.0M |
| 股东权益账面价值 | $11.3B | $5.4B |
| 总资产 | $20.5B | $12.3B |
| 负债/权益比越低杠杆越低 | 0.00× | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资MLMWTM
| Q1 26 | $273.0M | — | ||
| Q4 25 | $67.0M | — | ||
| Q3 25 | $57.0M | — | ||
| Q2 25 | $225.0M | — | ||
| Q1 25 | $101.0M | — | ||
| Q4 24 | $670.0M | — | ||
| Q3 24 | $52.0M | — | ||
| Q2 24 | $109.0M | — |
总债务MLMWTM
| Q1 26 | $0 | — | ||
| Q4 25 | $5.3B | $837.0M | ||
| Q3 25 | $5.5B | $870.4M | ||
| Q2 25 | $5.4B | $694.6M | ||
| Q1 25 | $5.4B | $676.1M | ||
| Q4 24 | $5.4B | $562.5M | ||
| Q3 24 | $4.0B | $544.9M | ||
| Q2 24 | $4.3B | $530.2M |
股东权益MLMWTM
| Q1 26 | $11.3B | — | ||
| Q4 25 | $10.0B | $5.4B | ||
| Q3 25 | $9.7B | $4.8B | ||
| Q2 25 | $9.4B | $4.6B | ||
| Q1 25 | $9.1B | $4.5B | ||
| Q4 24 | $9.5B | $4.5B | ||
| Q3 24 | $9.2B | $4.6B | ||
| Q2 24 | $8.8B | $4.4B |
总资产MLMWTM
| Q1 26 | $20.5B | — | ||
| Q4 25 | $18.7B | $12.3B | ||
| Q3 25 | $18.7B | $12.3B | ||
| Q2 25 | $18.1B | $11.8B | ||
| Q1 25 | $17.7B | $11.0B | ||
| Q4 24 | $18.2B | $9.9B | ||
| Q3 24 | $16.5B | $10.3B | ||
| Q2 24 | $16.3B | $10.2B |
负债/权益比MLMWTM
| Q1 26 | 0.00× | — | ||
| Q4 25 | 0.53× | 0.15× | ||
| Q3 25 | 0.57× | 0.18× | ||
| Q2 25 | 0.58× | 0.15× | ||
| Q1 25 | 0.60× | 0.15× | ||
| Q4 24 | 0.57× | 0.13× | ||
| Q3 24 | 0.44× | 0.12× | ||
| Q2 24 | 0.49× | 0.12× |
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 | $53.9M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 40.4% | — |
| 现金转化率经营现金流/净利润 | 0.15× | 0.06× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流MLMWTM
| Q1 26 | $227.0M | — | ||
| Q4 25 | $629.0M | $53.9M | ||
| Q3 25 | $551.0M | $359.3M | ||
| Q2 25 | $387.0M | $177.5M | ||
| Q1 25 | $218.0M | $-40.2M | ||
| Q4 24 | $686.0M | $64.1M | ||
| Q3 24 | $600.0M | $269.4M | ||
| Q2 24 | $1.0M | $216.8M |
自由现金流MLMWTM
| Q1 26 | — | — | ||
| Q4 25 | $424.0M | — | ||
| Q3 25 | $361.0M | — | ||
| Q2 25 | $208.0M | — | ||
| Q1 25 | $-15.0M | — | ||
| Q4 24 | $453.0M | — | ||
| Q3 24 | $317.0M | — | ||
| Q2 24 | $-138.0M | — |
自由现金流率MLMWTM
| Q1 26 | — | — | ||
| Q4 25 | 37.2% | — | ||
| Q3 25 | 19.6% | — | ||
| Q2 25 | 11.5% | — | ||
| Q1 25 | -1.1% | — | ||
| Q4 24 | 27.8% | — | ||
| Q3 24 | 16.8% | — | ||
| Q2 24 | -7.8% | — |
资本支出强度MLMWTM
| Q1 26 | 40.4% | — | ||
| Q4 25 | 18.0% | — | ||
| Q3 25 | 10.3% | — | ||
| Q2 25 | 9.9% | — | ||
| Q1 25 | 17.2% | — | ||
| Q4 24 | 14.3% | — | ||
| Q3 24 | 15.0% | — | ||
| Q2 24 | 7.9% | — |
现金转化率MLMWTM
| Q1 26 | 0.15× | — | ||
| Q4 25 | 2.25× | 0.06× | ||
| Q3 25 | 1.33× | 3.16× | ||
| Q2 25 | 1.18× | 1.44× | ||
| Q1 25 | 1.88× | -1.19× | ||
| Q4 24 | 2.34× | — | ||
| Q3 24 | 1.65× | 1.51× | ||
| 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
