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3M（MMM）与TEREX CORP（TEX）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TEREX CORP的4.6倍（$6.0B vs $1.3B）。3M净利率更高（10.8% vs 4.8%，领先6.0%）。TEREX CORP同比增速更快（6.2% vs 1.3%）。3M自由现金流更多（$2.0B vs $171.0M）。过去两年TEREX CORP的营收复合增速更高（1.0% 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。
特雷克斯公司是美国知名的设备制造企业，业务遍布美洲、欧洲、澳大利亚及亚太地区，主营物料加工机械、废弃物回收处理设备、移动式高空作业平台，以及电力行业专用设备，为全球多领域客户提供专业解决方案。
MMM vs TEX — 直观对比
营收规模更大
MMM
是对方的4.6倍
$1.3B
营收增速更快
TEX
高出4.9%
1.3%
净利率更高
MMM
高出6.0%
4.8%
自由现金流更多
MMM
多$1.9B
$171.0M
两年增速更快
TEX
近两年复合增速
-1.8%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $1.3B |
| 净利润 | $653.0M | $63.0M |
| 毛利率 | 40.7% | 18.8% |
| 营业利润率 | 23.2% | 10.4% |
| 净利率 | 10.8% | 4.8% |
| 营收同比 | 1.3% | 6.2% |
| 净利润同比 | -41.5% | 2963.6% |
| 每股收益（稀释后） | $1.23 | $0.95 |
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MMMTEX
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.1B | $1.3B | ||
| Q3 25 | $6.5B | $1.4B | ||
| Q2 25 | $6.3B | $1.5B | ||
| Q1 25 | $6.0B | $1.2B | ||
| Q4 24 | $6.0B | $1.2B | ||
| Q3 24 | $6.3B | $1.2B | ||
| Q2 24 | $6.3B | $1.4B |
净利润MMMTEX
| Q1 26 | $653.0M | — | ||
| Q4 25 | $577.0M | $63.0M | ||
| Q3 25 | $834.0M | $65.0M | ||
| Q2 25 | $723.0M | $72.0M | ||
| Q1 25 | $1.1B | $21.0M | ||
| Q4 24 | $728.0M | $-2.2M | ||
| Q3 24 | $1.4B | $88.0M | ||
| Q2 24 | $1.1B | $140.7M |
毛利率MMMTEX
| Q1 26 | 40.7% | — | ||
| Q4 25 | 33.6% | 18.8% | ||
| Q3 25 | 41.8% | 20.3% | ||
| Q2 25 | 42.5% | 19.6% | ||
| Q1 25 | 41.6% | 18.7% | ||
| Q4 24 | 51.7% | 15.9% | ||
| Q3 24 | 42.1% | 20.2% | ||
| Q2 24 | 42.9% | 23.8% |
营业利润率MMMTEX
| Q1 26 | 23.2% | — | ||
| Q4 25 | 13.0% | 10.4% | ||
| Q3 25 | 22.2% | 10.1% | ||
| Q2 25 | 18.0% | 8.7% | ||
| Q1 25 | 20.9% | 5.6% | ||
| Q4 24 | 12.2% | 4.2% | ||
| Q3 24 | 20.9% | 10.1% | ||
| Q2 24 | 20.3% | 14.0% |
净利率MMMTEX
| Q1 26 | 10.8% | — | ||
| Q4 25 | 9.4% | 4.8% | ||
| Q3 25 | 12.8% | 4.7% | ||
| Q2 25 | 11.4% | 4.8% | ||
| Q1 25 | 18.7% | 1.7% | ||
| Q4 24 | 12.1% | -0.2% | ||
| Q3 24 | 21.8% | 7.3% | ||
| Q2 24 | 18.3% | 10.2% |
每股收益（稀释后）MMMTEX
| Q1 26 | $1.23 | — | ||
| Q4 25 | $1.07 | $0.95 | ||
| Q3 25 | $1.55 | $0.98 | ||
| Q2 25 | $1.34 | $1.09 | ||
| Q1 25 | $2.04 | $0.31 | ||
| Q4 24 | $1.33 | $-0.03 | ||
| Q3 24 | $2.48 | $1.31 | ||
| Q2 24 | $2.07 | $2.08 |
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 | $772.0M |
| 总债务越低越好 | $10.9B | $2.6B |
| 股东权益账面价值 | $3.3B | $2.1B |
| 总资产 | $35.4B | $6.1B |
| 负债/权益比越低杠杆越低 | 3.29× | 1.23× |
8季度趋势，按日历期对齐
现金及短期投资MMMTEX
| Q1 26 | $3.7B | — | ||
| Q4 25 | — | $772.0M | ||
| Q3 25 | — | $509.0M | ||
| Q2 25 | — | $374.0M | ||
| Q1 25 | — | $298.0M | ||
| Q4 24 | — | $388.0M | ||
| Q3 24 | — | $352.0M | ||
| Q2 24 | — | $319.3M |
总债务MMMTEX
| Q1 26 | $10.9B | — | ||
| Q4 25 | $12.6B | $2.6B | ||
| Q3 25 | $12.6B | — | ||
| Q2 25 | $13.1B | — | ||
| Q1 25 | $13.5B | — | ||
| Q4 24 | $13.0B | $2.6B | ||
| Q3 24 | $13.2B | — | ||
| Q2 24 | $13.1B | — |
股东权益MMMTEX
| Q1 26 | $3.3B | — | ||
| Q4 25 | $4.7B | $2.1B | ||
| Q3 25 | $4.6B | $2.0B | ||
| Q2 25 | $4.3B | $2.0B | ||
| Q1 25 | $4.5B | $1.8B | ||
| Q4 24 | $3.8B | $1.8B | ||
| Q3 24 | $4.6B | $2.0B | ||
| Q2 24 | $3.9B | $1.8B |
总资产MMMTEX
| Q1 26 | $35.4B | — | ||
| Q4 25 | $37.7B | $6.1B | ||
| Q3 25 | $37.6B | $6.2B | ||
| Q2 25 | $38.0B | $6.2B | ||
| Q1 25 | $40.0B | $5.8B | ||
| Q4 24 | $39.9B | $5.7B | ||
| Q3 24 | $40.9B | $3.8B | ||
| Q2 24 | $43.4B | $3.8B |
负债/权益比MMMTEX
| Q1 26 | 3.29× | — | ||
| Q4 25 | 2.68× | 1.23× | ||
| Q3 25 | 2.72× | — | ||
| Q2 25 | 3.06× | — | ||
| Q1 25 | 3.02× | — | ||
| Q4 24 | 3.40× | 1.41× | ||
| Q3 24 | 2.84× | — | ||
| Q2 24 | 3.34× | — |
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 | — | $205.0M |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $171.0M |
| 自由现金流率自由现金流/营收 | 33.6% | 13.0% |
| 资本支出强度资本支出/营收 | — | 2.6% |
| 现金转化率经营现金流/净利润 | — | 3.25× |
| 过去12个月自由现金流最近4个季度 | $3.7B | $322.0M |
8季度趋势，按日历期对齐
经营现金流MMMTEX
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $205.0M | ||
| Q3 25 | $1.8B | $154.0M | ||
| Q2 25 | $-954.0M | $102.0M | ||
| Q1 25 | $-79.0M | $-21.0M | ||
| Q4 24 | $1.8B | $177.0M | ||
| Q3 24 | $-1.8B | $116.4M | ||
| Q2 24 | $1.0B | $66.5M |
自由现金流MMMTEX
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.3B | $171.0M | ||
| Q3 25 | $1.5B | $130.0M | ||
| Q2 25 | $-1.2B | $78.0M | ||
| Q1 25 | $-315.0M | $-57.0M | ||
| Q4 24 | $1.5B | $128.0M | ||
| Q3 24 | $-2.0B | $87.4M | ||
| Q2 24 | $752.0M | $42.5M |
自由现金流率MMMTEX
| Q1 26 | 33.6% | — | ||
| Q4 25 | 21.8% | 13.0% | ||
| Q3 25 | 23.6% | 9.4% | ||
| Q2 25 | -18.3% | 5.2% | ||
| Q1 25 | -5.3% | -4.6% | ||
| Q4 24 | 25.4% | 10.3% | ||
| Q3 24 | -32.3% | 7.2% | ||
| Q2 24 | 12.0% | 3.1% |
资本支出强度MMMTEX
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 2.6% | ||
| Q3 25 | 3.3% | 1.7% | ||
| Q2 25 | 3.3% | 1.6% | ||
| Q1 25 | 4.0% | 2.9% | ||
| Q4 24 | 4.8% | 3.9% | ||
| Q3 24 | 3.9% | 2.4% | ||
| Q2 24 | 4.3% | 1.7% |
现金转化率MMMTEX
| Q1 26 | — | — | ||
| Q4 25 | 2.74× | 3.25× | ||
| Q3 25 | 2.11× | 2.37× | ||
| Q2 25 | -1.32× | 1.42× | ||
| Q1 25 | -0.07× | -1.00× | ||
| Q4 24 | 2.50× | — | ||
| Q3 24 | -1.30× | 1.32× | ||
| Q2 24 | 0.89× | 0.47× |
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% |
TEX
| Aerials Segment | $466.0M | 35% |
| Materials Processing Segment | $428.0M | 32% |
| Materials Processing Equipment | $279.0M | 21% |
| Specialty Equipment | $148.0M | 11% |
