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3M（MMM）与MASTEC INC（MTZ）财务数据对比。点击上方公司名可切换其他公司
3M的季度营收约是MASTEC INC的1.5倍（$6.0B vs $3.9B）。3M净利率更高（10.8% vs 3.6%，领先7.2%）。MASTEC INC同比增速更快（15.8% vs 1.3%）。3M自由现金流更多（$2.0B vs $292.5M）。过去两年MASTEC INC的营收复合增速更高（21.1% vs -1.8%）
3M是美国知名跨国综合企业，业务覆盖工业、劳动者安全防护、消费品等多个领域，总部位于圣保罗郊区的枫木市。公司现有超6万款产品，涵盖胶粘剂、研磨材料、防火防护产品、个人防护装备、窗膜、车漆保护膜、电子连接绝缘材料、汽车养护产品、光学膜等品类。
MasTec Inc是总部位于美国佛罗里达州科勒尔盖布尔斯的基础设施工程建设企业，面向能源、公用事业及通信领域提供基础设施的设计、施工、安装、运维与升级服务，客户主要来自公用事业、通信及政府行业。
MMM vs MTZ — 直观对比
营收规模更大
MMM
是对方的1.5倍
$3.9B
营收增速更快
MTZ
高出14.5%
1.3%
净利率更高
MMM
高出7.2%
3.6%
自由现金流更多
MMM
多$1.7B
$292.5M
两年增速更快
MTZ
近两年复合增速
-1.8%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $3.9B |
| 净利润 | $653.0M | $142.7M |
| 毛利率 | 40.7% | — |
| 营业利润率 | 23.2% | 4.4% |
| 净利率 | 10.8% | 3.6% |
| 营收同比 | 1.3% | 15.8% |
| 净利润同比 | -41.5% | 90.9% |
| 每股收益（稀释后） | $1.23 | $1.81 |
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MMMMTZ
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.1B | $3.9B | ||
| Q3 25 | $6.5B | $4.0B | ||
| Q2 25 | $6.3B | $3.5B | ||
| Q1 25 | $6.0B | $2.8B | ||
| Q4 24 | $6.0B | $3.4B | ||
| Q3 24 | $6.3B | $3.3B | ||
| Q2 24 | $6.3B | $3.0B |
净利润MMMMTZ
| Q1 26 | $653.0M | — | ||
| Q4 25 | $577.0M | $142.7M | ||
| Q3 25 | $834.0M | $160.7M | ||
| Q2 25 | $723.0M | $85.8M | ||
| Q1 25 | $1.1B | $9.9M | ||
| Q4 24 | $728.0M | $74.7M | ||
| Q3 24 | $1.4B | $95.2M | ||
| Q2 24 | $1.1B | $34.0M |
毛利率MMMMTZ
| Q1 26 | 40.7% | — | ||
| Q4 25 | 33.6% | — | ||
| Q3 25 | 41.8% | — | ||
| Q2 25 | 42.5% | — | ||
| Q1 25 | 41.6% | — | ||
| Q4 24 | 51.7% | — | ||
| Q3 24 | 42.1% | — | ||
| Q2 24 | 42.9% | — |
营业利润率MMMMTZ
| Q1 26 | 23.2% | — | ||
| Q4 25 | 13.0% | 4.4% | ||
| Q3 25 | 22.2% | 5.3% | ||
| Q2 25 | 18.0% | 3.4% | ||
| Q1 25 | 20.9% | 0.3% | ||
| Q4 24 | 12.2% | 2.8% | ||
| Q3 24 | 20.9% | 4.2% | ||
| Q2 24 | 20.3% | 2.1% |
净利率MMMMTZ
| Q1 26 | 10.8% | — | ||
| Q4 25 | 9.4% | 3.6% | ||
| Q3 25 | 12.8% | 4.0% | ||
| Q2 25 | 11.4% | 2.4% | ||
| Q1 25 | 18.7% | 0.3% | ||
| Q4 24 | 12.1% | 2.2% | ||
| Q3 24 | 21.8% | 2.9% | ||
| Q2 24 | 18.3% | 1.1% |
每股收益（稀释后）MMMMTZ
| Q1 26 | $1.23 | — | ||
| Q4 25 | $1.07 | $1.81 | ||
| Q3 25 | $1.55 | $2.04 | ||
| Q2 25 | $1.34 | $1.09 | ||
| Q1 25 | $2.04 | $0.13 | ||
| Q4 24 | $1.33 | $0.95 | ||
| Q3 24 | $2.48 | $1.21 | ||
| Q2 24 | $2.07 | $0.43 |
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 | $3.7B | $396.0M |
| 总债务越低越好 | $10.9B | $2.2B |
| 股东权益账面价值 | $3.3B | $3.3B |
| 总资产 | $35.4B | $9.9B |
| 负债/权益比越低杠杆越低 | 3.29× | 0.67× |
8季度趋势，按日历期对齐
现金及短期投资MMMMTZ
| Q1 26 | $3.7B | — | ||
| Q4 25 | — | $396.0M | ||
| Q3 25 | — | $231.4M | ||
| Q2 25 | — | $191.1M | ||
| Q1 25 | — | $345.7M | ||
| Q4 24 | — | $399.9M | ||
| Q3 24 | — | $181.2M | ||
| Q2 24 | — | $297.6M |
总债务MMMMTZ
| Q1 26 | $10.9B | — | ||
| Q4 25 | $12.6B | $2.2B | ||
| Q3 25 | $12.6B | $2.2B | ||
| Q2 25 | $13.1B | $2.1B | ||
| Q1 25 | $13.5B | $2.0B | ||
| Q4 24 | $13.0B | $2.0B | ||
| Q3 24 | $13.2B | $2.1B | ||
| Q2 24 | $13.1B | $2.4B |
股东权益MMMMTZ
| Q1 26 | $3.3B | — | ||
| Q4 25 | $4.7B | $3.3B | ||
| Q3 25 | $4.6B | $3.1B | ||
| Q2 25 | $4.3B | $2.9B | ||
| Q1 25 | $4.5B | $2.9B | ||
| Q4 24 | $3.8B | $2.9B | ||
| Q3 24 | $4.6B | $2.8B | ||
| Q2 24 | $3.9B | $2.7B |
总资产MMMMTZ
| Q1 26 | $35.4B | — | ||
| Q4 25 | $37.7B | $9.9B | ||
| Q3 25 | $37.6B | $9.7B | ||
| Q2 25 | $38.0B | $9.1B | ||
| Q1 25 | $40.0B | $8.9B | ||
| Q4 24 | $39.9B | $9.0B | ||
| Q3 24 | $40.9B | $8.8B | ||
| Q2 24 | $43.4B | $8.7B |
负债/权益比MMMMTZ
| Q1 26 | 3.29× | — | ||
| Q4 25 | 2.68× | 0.67× | ||
| Q3 25 | 2.72× | 0.71× | ||
| Q2 25 | 3.06× | 0.71× | ||
| Q1 25 | 3.02× | 0.71× | ||
| Q4 24 | 3.40× | 0.70× | ||
| Q3 24 | 2.84× | 0.76× | ||
| Q2 24 | 3.34× | 0.87× |
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 | — | $372.7M |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $292.5M |
| 自由现金流率自由现金流/营收 | 33.6% | 7.4% |
| 资本支出强度资本支出/营收 | — | 2.0% |
| 现金转化率经营现金流/净利润 | — | 2.61× |
| 过去12个月自由现金流最近4个季度 | $3.7B | $285.7M |
8季度趋势，按日历期对齐
经营现金流MMMMTZ
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $372.7M | ||
| Q3 25 | $1.8B | $89.0M | ||
| Q2 25 | $-954.0M | $5.6M | ||
| Q1 25 | $-79.0M | $78.4M | ||
| Q4 24 | $1.8B | $471.7M | ||
| Q3 24 | $-1.8B | $277.7M | ||
| Q2 24 | $1.0B | $264.4M |
自由现金流MMMMTZ
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.3B | $292.5M | ||
| Q3 25 | $1.5B | $20.3M | ||
| Q2 25 | $-1.2B | $-58.2M | ||
| Q1 25 | $-315.0M | $31.1M | ||
| Q4 24 | $1.5B | $423.4M | ||
| Q3 24 | $-2.0B | $234.1M | ||
| Q2 24 | $752.0M | $232.9M |
自由现金流率MMMMTZ
| Q1 26 | 33.6% | — | ||
| Q4 25 | 21.8% | 7.4% | ||
| Q3 25 | 23.6% | 0.5% | ||
| Q2 25 | -18.3% | -1.6% | ||
| Q1 25 | -5.3% | 1.1% | ||
| Q4 24 | 25.4% | 12.4% | ||
| Q3 24 | -32.3% | 7.2% | ||
| Q2 24 | 12.0% | 7.9% |
资本支出强度MMMMTZ
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 2.0% | ||
| Q3 25 | 3.3% | 1.7% | ||
| Q2 25 | 3.3% | 1.8% | ||
| Q1 25 | 4.0% | 1.7% | ||
| Q4 24 | 4.8% | 1.4% | ||
| Q3 24 | 3.9% | 1.3% | ||
| Q2 24 | 4.3% | 1.1% |
现金转化率MMMMTZ
| Q1 26 | — | — | ||
| Q4 25 | 2.74× | 2.61× | ||
| Q3 25 | 2.11× | 0.55× | ||
| Q2 25 | -1.32× | 0.07× | ||
| Q1 25 | -0.07× | 7.91× | ||
| Q4 24 | 2.50× | 6.31× | ||
| Q3 24 | -1.30× | 2.92× | ||
| Q2 24 | 0.89× | 7.78× |
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
MMM
| Safety and Industrial business segment | $2.9B | 49% |
| Transportation and Electronics business segment | $1.8B | 31% |
| Consumer business segment | $1.1B | 19% |
| Corporate | $121.0M | 2% |
MTZ
| Clean Energy And Infrastructure | $1.3B | 33% |
| Power Delivery | $1.1B | 28% |
| Communications | $906.7M | 23% |
| Pipeline Infrastructure | $643.8M | 16% |
