vs
Martin Marietta Materials（MLM）与赛莱默（XYL）财务数据对比。点击上方公司名可切换其他公司
赛莱默的季度营收约是Martin Marietta Materials的1.9倍（$2.1B vs $1.1B），Martin Marietta Materials净利率更高（24.5% vs 8.9%，领先15.6%），赛莱默同比增速更快（2.7% vs -30.1%），过去两年赛莱默的营收复合增速更高（-1.0% 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。
该文本为植物学对木质部的定义说明，并非赛莱默公司（Xylem Inc.）的企业业务介绍。Xylem Inc.是一家专注于水技术与解决方案的全球企业，提供水务基础设施、水环境治理等相关设备与服务。
MLM vs XYL — 直观对比
营收规模更大
XYL
是对方的1.9倍
$1.1B
营收增速更快
XYL
高出32.9%
-30.1%
净利率更高
MLM
高出15.6%
8.9%
两年增速更快
XYL
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $2.1B |
| 净利润 | $279.0M | $189.0M |
| 毛利率 | 35.0% | 37.8% |
| 营业利润率 | 24.6% | 11.5% |
| 净利率 | 24.5% | 8.9% |
| 营收同比 | -30.1% | 2.7% |
| 净利润同比 | -4.8% | 13.2% |
| 每股收益（稀释后） | $4.59 | $0.79 |
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MLMXYL
| Q1 26 | — | $2.1B | ||
| Q4 25 | $1.1B | $2.4B | ||
| Q3 25 | $1.8B | $2.3B | ||
| Q2 25 | $1.8B | $2.3B | ||
| Q1 25 | $1.4B | $2.1B | ||
| Q4 24 | $1.6B | $2.3B | ||
| Q3 24 | $1.9B | $2.1B | ||
| Q2 24 | $1.8B | $2.2B |
净利润MLMXYL
| Q1 26 | — | $189.0M | ||
| Q4 25 | $279.0M | $335.0M | ||
| Q3 25 | $414.0M | $227.0M | ||
| Q2 25 | $328.0M | $226.0M | ||
| Q1 25 | $116.0M | $169.0M | ||
| Q4 24 | $293.0M | $326.0M | ||
| Q3 24 | $363.0M | $217.0M | ||
| Q2 24 | $294.0M | $194.0M |
毛利率MLMXYL
| Q1 26 | — | 37.8% | ||
| Q4 25 | 35.0% | 38.9% | ||
| Q3 25 | 33.1% | 38.9% | ||
| Q2 25 | 30.0% | 38.8% | ||
| Q1 25 | 24.8% | 37.1% | ||
| Q4 24 | 30.0% | 38.0% | ||
| Q3 24 | 31.7% | 37.3% | ||
| Q2 24 | 29.3% | 37.8% |
营业利润率MLMXYL
| Q1 26 | — | 11.5% | ||
| Q4 25 | 24.6% | 14.7% | ||
| Q3 25 | 27.4% | 14.7% | ||
| Q2 25 | 25.3% | 13.3% | ||
| Q1 25 | 14.3% | 11.2% | ||
| Q4 24 | 24.4% | 11.8% | ||
| Q3 24 | 25.9% | 13.3% | ||
| Q2 24 | 22.6% | 11.7% |
净利率MLMXYL
| Q1 26 | — | 8.9% | ||
| Q4 25 | 24.5% | 14.0% | ||
| Q3 25 | 22.4% | 10.0% | ||
| Q2 25 | 18.1% | 9.8% | ||
| Q1 25 | 8.6% | 8.2% | ||
| Q4 24 | 18.0% | 14.5% | ||
| Q3 24 | 19.2% | 10.3% | ||
| Q2 24 | 16.7% | 8.9% |
每股收益（稀释后）MLMXYL
| Q1 26 | — | $0.79 | ||
| Q4 25 | $4.59 | $1.37 | ||
| Q3 25 | $6.85 | $0.93 | ||
| Q2 25 | $5.43 | $0.93 | ||
| Q1 25 | $1.90 | $0.69 | ||
| Q4 24 | $4.87 | $1.33 | ||
| Q3 24 | $5.91 | $0.89 | ||
| Q2 24 | $4.76 | $0.80 |
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 | $808.0M |
| 总债务越低越好 | $5.3B | $1.9B |
| 股东权益账面价值 | $10.0B | $11.0B |
| 总资产 | $18.7B | $17.0B |
| 负债/权益比越低杠杆越低 | 0.53× | 0.18× |
8季度趋势，按日历期对齐
现金及短期投资MLMXYL
| Q1 26 | — | $808.0M | ||
| Q4 25 | $67.0M | $1.5B | ||
| Q3 25 | $57.0M | $1.2B | ||
| Q2 25 | $225.0M | $1.2B | ||
| Q1 25 | $101.0M | $1.1B | ||
| Q4 24 | $670.0M | $1.1B | ||
| Q3 24 | $52.0M | $989.0M | ||
| Q2 24 | $109.0M | $815.0M |
总债务MLMXYL
| Q1 26 | — | $1.9B | ||
| Q4 25 | $5.3B | $2.0B | ||
| Q3 25 | $5.5B | $2.0B | ||
| Q2 25 | $5.4B | $2.0B | ||
| Q1 25 | $5.4B | $2.0B | ||
| Q4 24 | $5.4B | $2.0B | ||
| Q3 24 | $4.0B | — | ||
| Q2 24 | $4.3B | — |
股东权益MLMXYL
| Q1 26 | — | $11.0B | ||
| Q4 25 | $10.0B | $11.5B | ||
| Q3 25 | $9.7B | $11.2B | ||
| Q2 25 | $9.4B | $11.1B | ||
| Q1 25 | $9.1B | $10.8B | ||
| Q4 24 | $9.5B | $10.6B | ||
| Q3 24 | $9.2B | $10.6B | ||
| Q2 24 | $8.8B | $10.3B |
总资产MLMXYL
| Q1 26 | — | $17.0B | ||
| Q4 25 | $18.7B | $17.6B | ||
| Q3 25 | $18.7B | $17.3B | ||
| Q2 25 | $18.1B | $17.2B | ||
| Q1 25 | $17.7B | $16.6B | ||
| Q4 24 | $18.2B | $16.5B | ||
| Q3 24 | $16.5B | $16.0B | ||
| Q2 24 | $16.3B | $15.8B |
负债/权益比MLMXYL
| Q1 26 | — | 0.18× | ||
| Q4 25 | 0.53× | 0.17× | ||
| Q3 25 | 0.57× | 0.18× | ||
| Q2 25 | 0.58× | 0.18× | ||
| Q1 25 | 0.60× | 0.19× | ||
| Q4 24 | 0.57× | 0.19× | ||
| 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 | $629.0M | — |
| 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% | 4.2% |
| 现金转化率经营现金流/净利润 | 2.25× | — |
| 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MLMXYL
| Q1 26 | — | — | ||
| Q4 25 | $629.0M | $543.0M | ||
| Q3 25 | $551.0M | $360.0M | ||
| Q2 25 | $387.0M | $305.0M | ||
| Q1 25 | $218.0M | $33.0M | ||
| Q4 24 | $686.0M | $575.0M | ||
| Q3 24 | $600.0M | $311.0M | ||
| Q2 24 | $1.0M | $288.0M |
自由现金流MLMXYL
| Q1 26 | — | — | ||
| Q4 25 | $424.0M | $460.0M | ||
| Q3 25 | $361.0M | $281.0M | ||
| Q2 25 | $208.0M | $207.0M | ||
| Q1 25 | $-15.0M | $-38.0M | ||
| Q4 24 | $453.0M | $475.0M | ||
| Q3 24 | $317.0M | $237.0M | ||
| Q2 24 | $-138.0M | $215.0M |
自由现金流率MLMXYL
| Q1 26 | — | — | ||
| Q4 25 | 37.2% | 19.2% | ||
| Q3 25 | 19.6% | 12.4% | ||
| Q2 25 | 11.5% | 9.0% | ||
| Q1 25 | -1.1% | -1.8% | ||
| Q4 24 | 27.8% | 21.1% | ||
| Q3 24 | 16.8% | 11.3% | ||
| Q2 24 | -7.8% | 9.9% |
资本支出强度MLMXYL
| Q1 26 | — | 4.2% | ||
| Q4 25 | 18.0% | 3.5% | ||
| Q3 25 | 10.3% | 3.5% | ||
| Q2 25 | 9.9% | 4.3% | ||
| Q1 25 | 17.2% | 3.4% | ||
| Q4 24 | 14.3% | 4.4% | ||
| Q3 24 | 15.0% | 3.5% | ||
| Q2 24 | 7.9% | 3.4% |
现金转化率MLMXYL
| Q1 26 | — | — | ||
| Q4 25 | 2.25× | 1.62× | ||
| Q3 25 | 1.33× | 1.59× | ||
| Q2 25 | 1.18× | 1.35× | ||
| Q1 25 | 1.88× | 0.20× | ||
| Q4 24 | 2.34× | 1.76× | ||
| Q3 24 | 1.65× | 1.43× | ||
| Q2 24 | 0.00× | 1.48× |
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% |
XYL
| Revenue from products | $1.8B | 83% |
| Revenue from services | $368.0M | 17% |
