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Martin Marietta Materials（MLM）与Essential Utilities, Inc.（WTRG）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Essential Utilities, Inc.的1.6倍（$1.1B vs $699.1M），Martin Marietta Materials净利率更高（24.5% vs 19.0%，领先5.5%），Essential Utilities, Inc.同比增速更快（15.7% vs -30.1%），过去两年Essential Utilities, Inc.的营收复合增速更高（6.9% 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。
Essential Utilities是美国公共事业企业，业务覆盖伊利诺伊、印第安纳、肯塔基、新泽西、北卡罗来纳、俄亥俄、宾夕法尼亚、得克萨斯、弗吉尼亚共九个州，主营饮用水供应、污水处理基础设施运营及天然气供应服务，作为上市公司（股票代码WTRG），是Aqua America和Peoples Natural Gas的母公司，两家子公司仍保留原有品牌独立运营。
MLM vs WTRG — 直观对比
营收规模更大
MLM
是对方的1.6倍
$699.1M
营收增速更快
WTRG
高出45.8%
-30.1%
净利率更高
MLM
高出5.5%
19.0%
两年增速更快
WTRG
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $699.1M |
| 净利润 | $279.0M | $132.7M |
| 毛利率 | 35.0% | — |
| 营业利润率 | 24.6% | 32.5% |
| 净利率 | 24.5% | 19.0% |
| 营收同比 | -30.1% | 15.7% |
| 净利润同比 | -4.8% | -28.2% |
| 每股收益（稀释后） | $4.59 | $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MLMWTRG
| Q4 25 | $1.1B | $699.1M | ||
| Q3 25 | $1.8B | $477.0M | ||
| Q2 25 | $1.8B | $514.9M | ||
| Q1 25 | $1.4B | $783.6M | ||
| Q4 24 | $1.6B | $604.4M | ||
| Q3 24 | $1.9B | $435.3M | ||
| Q2 24 | $1.8B | $434.4M | ||
| Q1 24 | $1.3B | $612.1M |
净利润MLMWTRG
| Q4 25 | $279.0M | $132.7M | ||
| Q3 25 | $414.0M | $92.1M | ||
| Q2 25 | $328.0M | $107.8M | ||
| Q1 25 | $116.0M | $283.8M | ||
| Q4 24 | $293.0M | $184.8M | ||
| Q3 24 | $363.0M | $69.4M | ||
| Q2 24 | $294.0M | $75.4M | ||
| Q1 24 | $1.0B | $265.8M |
毛利率MLMWTRG
| Q4 25 | 35.0% | — | ||
| Q3 25 | 33.1% | — | ||
| Q2 25 | 30.0% | — | ||
| Q1 25 | 24.8% | — | ||
| Q4 24 | 30.0% | — | ||
| Q3 24 | 31.7% | — | ||
| Q2 24 | 29.3% | — | ||
| Q1 24 | 21.7% | — |
营业利润率MLMWTRG
| Q4 25 | 24.6% | 32.5% | ||
| Q3 25 | 27.4% | 35.6% | ||
| Q2 25 | 25.3% | 36.0% | ||
| Q1 25 | 14.3% | 43.2% | ||
| Q4 24 | 24.4% | 37.5% | ||
| Q3 24 | 25.9% | 35.6% | ||
| Q2 24 | 22.6% | 33.4% | ||
| Q1 24 | — | 37.7% |
净利率MLMWTRG
| Q4 25 | 24.5% | 19.0% | ||
| Q3 25 | 22.4% | 19.3% | ||
| Q2 25 | 18.1% | 20.9% | ||
| Q1 25 | 8.6% | 36.2% | ||
| Q4 24 | 18.0% | 30.6% | ||
| Q3 24 | 19.2% | 15.9% | ||
| Q2 24 | 16.7% | 17.4% | ||
| Q1 24 | 83.5% | 43.4% |
每股收益（稀释后）MLMWTRG
| Q4 25 | $4.59 | $0.46 | ||
| Q3 25 | $6.85 | $0.33 | ||
| Q2 25 | $5.43 | $0.38 | ||
| Q1 25 | $1.90 | $1.03 | ||
| Q4 24 | $4.87 | $0.67 | ||
| Q3 24 | $5.91 | $0.25 | ||
| Q2 24 | $4.76 | $0.28 | ||
| Q1 24 | $16.87 | $0.97 |
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 | $34.8M |
| 总债务越低越好 | $5.3B | — |
| 股东权益账面价值 | $10.0B | $6.9B |
| 总资产 | $18.7B | $19.5B |
| 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MLMWTRG
| Q4 25 | $67.0M | $34.8M | ||
| Q3 25 | $57.0M | $6.4M | ||
| Q2 25 | $225.0M | $25.1M | ||
| Q1 25 | $101.0M | $20.8M | ||
| Q4 24 | $670.0M | $9.2M | ||
| Q3 24 | $52.0M | $8.4M | ||
| Q2 24 | $109.0M | $18.8M | ||
| Q1 24 | $2.6B | $35.2M |
总债务MLMWTRG
| 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MLMWTRG
| Q4 25 | $10.0B | $6.9B | ||
| Q3 25 | $9.7B | $6.8B | ||
| Q2 25 | $9.4B | $6.7B | ||
| Q1 25 | $9.1B | $6.5B | ||
| Q4 24 | $9.5B | $6.2B | ||
| Q3 24 | $9.2B | $6.2B | ||
| Q2 24 | $8.8B | $6.2B | ||
| Q1 24 | $8.9B | $6.1B |
总资产MLMWTRG
| Q4 25 | $18.7B | $19.5B | ||
| Q3 25 | $18.7B | $18.9B | ||
| Q2 25 | $18.1B | $18.6B | ||
| Q1 25 | $17.7B | $18.3B | ||
| Q4 24 | $18.2B | $18.0B | ||
| Q3 24 | $16.5B | $17.6B | ||
| Q2 24 | $16.3B | $17.3B | ||
| Q1 24 | $16.2B | $17.1B |
负债/权益比MLMWTRG
| 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 | $206.1M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | — |
| 自由现金流率自由现金流/营收 | 37.2% | — |
| 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× | 1.55× |
| 过去12个月自由现金流最近4个季度 | $978.0M | — |
8季度趋势，按日历期对齐
经营现金流MLMWTRG
| Q4 25 | $629.0M | $206.1M | ||
| Q3 25 | $551.0M | $232.5M | ||
| Q2 25 | $387.0M | $272.3M | ||
| Q1 25 | $218.0M | $299.5M | ||
| Q4 24 | $686.0M | $147.8M | ||
| Q3 24 | $600.0M | $196.1M | ||
| Q2 24 | $1.0M | $185.7M | ||
| Q1 24 | $172.0M | $240.7M |
自由现金流MLMWTRG
| 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 | — | ||
| Q1 24 | $-28.0M | — |
自由现金流率MLMWTRG
| 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% | — | ||
| Q1 24 | -2.2% | — |
资本支出强度MLMWTRG
| 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% | — | ||
| Q1 24 | 16.0% | — |
现金转化率MLMWTRG
| Q4 25 | 2.25× | 1.55× | ||
| Q3 25 | 1.33× | 2.53× | ||
| Q2 25 | 1.18× | 2.53× | ||
| Q1 25 | 1.88× | 1.06× | ||
| Q4 24 | 2.34× | 0.80× | ||
| Q3 24 | 1.65× | 2.83× | ||
| Q2 24 | 0.00× | 2.46× | ||
| Q1 24 | 0.16× | 0.91× |
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% |
WTRG
| Natural Gas | $371.7M | 53% |
| Water | $269.4M | 39% |
| Wastewater | $57.2M | 8% |
| Other | $2.7M | 0% |
