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3M（MMM）与INNOVATE Corp.（VATE）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INNOVATE Corp.的15.8倍（$6.0B vs $382.7M）。3M净利率更高（10.8% vs -1.9%，领先12.8%）。INNOVATE Corp.同比增速更快（61.7% vs 1.3%）。过去两年INNOVATE Corp.的营收复合增速更高（10.2% 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。
创新公司（Innovate Corp.）是一家美国上市金融服务企业，创立于1994年，深耕金融服务领域，面向市场提供多元专业金融相关服务，是美国本土具备多年运营经验的公众金融服务机构。
MMM vs VATE — 直观对比
营收规模更大
MMM
是对方的15.8倍
$382.7M
营收增速更快
VATE
高出60.4%
1.3%
净利率更高
MMM
高出12.8%
-1.9%
两年增速更快
VATE
近两年复合增速
-1.8%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $382.7M |
| 净利润 | $653.0M | $-7.4M |
| 毛利率 | 40.7% | 15.4% |
| 营业利润率 | 23.2% | 3.7% |
| 净利率 | 10.8% | -1.9% |
| 营收同比 | 1.3% | 61.7% |
| 净利润同比 | -41.5% | 55.4% |
| 每股收益（稀释后） | $1.23 | $-0.57 |
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MMMVATE
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.1B | $382.7M | ||
| Q3 25 | $6.5B | $347.1M | ||
| Q2 25 | $6.3B | $242.0M | ||
| Q1 25 | $6.0B | $274.2M | ||
| Q4 24 | $6.0B | $236.6M | ||
| Q3 24 | $6.3B | $242.2M | ||
| Q2 24 | $6.3B | $313.1M |
净利润MMMVATE
| Q1 26 | $653.0M | — | ||
| Q4 25 | $577.0M | $-7.4M | ||
| Q3 25 | $834.0M | $-8.9M | ||
| Q2 25 | $723.0M | $-19.8M | ||
| Q1 25 | $1.1B | $-24.5M | ||
| Q4 24 | $728.0M | $-16.6M | ||
| Q3 24 | $1.4B | $-15.0M | ||
| Q2 24 | $1.1B | $14.4M |
毛利率MMMVATE
| Q1 26 | 40.7% | — | ||
| Q4 25 | 33.6% | 15.4% | ||
| Q3 25 | 41.8% | 14.3% | ||
| Q2 25 | 42.5% | 18.8% | ||
| Q1 25 | 41.6% | 16.6% | ||
| Q4 24 | 51.7% | 19.6% | ||
| Q3 24 | 42.1% | 19.9% | ||
| Q2 24 | 42.9% | 21.0% |
营业利润率MMMVATE
| Q1 26 | 23.2% | — | ||
| Q4 25 | 13.0% | 3.7% | ||
| Q3 25 | 22.2% | 1.8% | ||
| Q2 25 | 18.0% | 2.0% | ||
| Q1 25 | 20.9% | 1.2% | ||
| Q4 24 | 12.2% | 1.1% | ||
| Q3 24 | 20.9% | 2.4% | ||
| Q2 24 | 20.3% | 9.2% |
净利率MMMVATE
| Q1 26 | 10.8% | — | ||
| Q4 25 | 9.4% | -1.9% | ||
| Q3 25 | 12.8% | -2.6% | ||
| Q2 25 | 11.4% | -8.2% | ||
| Q1 25 | 18.7% | -8.9% | ||
| Q4 24 | 12.1% | -7.0% | ||
| Q3 24 | 21.8% | -6.2% | ||
| Q2 24 | 18.3% | 4.6% |
每股收益（稀释后）MMMVATE
| Q1 26 | $1.23 | — | ||
| Q4 25 | $1.07 | $-0.57 | ||
| Q3 25 | $1.55 | $-0.71 | ||
| Q2 25 | $1.34 | $-1.67 | ||
| Q1 25 | $2.04 | $-1.89 | ||
| Q4 24 | $1.33 | $-0.72 | ||
| Q3 24 | $2.48 | $-1.18 | ||
| Q2 24 | $2.07 | $1.03 |
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 | $112.1M |
| 总债务越低越好 | $10.9B | $80.3M |
| 股东权益账面价值 | $3.3B | $-240.1M |
| 总资产 | $35.4B | $950.1M |
| 负债/权益比越低杠杆越低 | 3.29× | — |
8季度趋势，按日历期对齐
现金及短期投资MMMVATE
| Q1 26 | $3.7B | — | ||
| Q4 25 | — | $112.1M | ||
| Q3 25 | — | $35.5M | ||
| Q2 25 | — | $33.4M | ||
| Q1 25 | — | $33.3M | ||
| Q4 24 | — | $48.8M | ||
| Q3 24 | — | $51.0M | ||
| Q2 24 | — | $80.2M |
总债务MMMVATE
| Q1 26 | $10.9B | — | ||
| Q4 25 | $12.6B | $80.3M | ||
| Q3 25 | $12.6B | $97.3M | ||
| Q2 25 | $13.1B | $160.1M | ||
| Q1 25 | $13.5B | $139.9M | ||
| Q4 24 | $13.0B | $500.6M | ||
| Q3 24 | $13.2B | $502.4M | ||
| Q2 24 | $13.1B | $638.3M |
股东权益MMMVATE
| Q1 26 | $3.3B | — | ||
| Q4 25 | $4.7B | $-240.1M | ||
| Q3 25 | $4.6B | $-233.3M | ||
| Q2 25 | $4.3B | $-224.8M | ||
| Q1 25 | $4.5B | $-204.2M | ||
| Q4 24 | $3.8B | $-180.4M | ||
| Q3 24 | $4.6B | $-163.1M | ||
| Q2 24 | $3.9B | $-149.0M |
总资产MMMVATE
| Q1 26 | $35.4B | — | ||
| Q4 25 | $37.7B | $950.1M | ||
| Q3 25 | $37.6B | $913.2M | ||
| Q2 25 | $38.0B | $890.9M | ||
| Q1 25 | $40.0B | $868.0M | ||
| Q4 24 | $39.9B | $891.1M | ||
| Q3 24 | $40.9B | $897.2M | ||
| Q2 24 | $43.4B | $898.9M |
负债/权益比MMMVATE
| Q1 26 | 3.29× | — | ||
| Q4 25 | 2.68× | — | ||
| Q3 25 | 2.72× | — | ||
| Q2 25 | 3.06× | — | ||
| Q1 25 | 3.02× | — | ||
| Q4 24 | 3.40× | — | ||
| 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 | — | $101.1M |
| 自由现金流经营现金流 - 资本支出 | $2.0B | — |
| 自由现金流率自由现金流/营收 | 33.6% | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $3.7B | — |
8季度趋势，按日历期对齐
经营现金流MMMVATE
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $101.1M | ||
| Q3 25 | $1.8B | $19.2M | ||
| Q2 25 | $-954.0M | $40.4M | ||
| Q1 25 | $-79.0M | $-14.1M | ||
| Q4 24 | $1.8B | $41.4M | ||
| Q3 24 | $-1.8B | $-28.4M | ||
| Q2 24 | $1.0B | $21.5M |
自由现金流MMMVATE
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.5B | $19.0M | ||
| Q2 25 | $-1.2B | — | ||
| Q1 25 | $-315.0M | $-18.8M | ||
| Q4 24 | $1.5B | $34.2M | ||
| Q3 24 | $-2.0B | $-31.5M | ||
| Q2 24 | $752.0M | $18.4M |
自由现金流率MMMVATE
| Q1 26 | 33.6% | — | ||
| Q4 25 | 21.8% | — | ||
| Q3 25 | 23.6% | 5.5% | ||
| Q2 25 | -18.3% | — | ||
| Q1 25 | -5.3% | -6.9% | ||
| Q4 24 | 25.4% | 14.5% | ||
| Q3 24 | -32.3% | -13.0% | ||
| Q2 24 | 12.0% | 5.9% |
资本支出强度MMMVATE
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | — | ||
| Q3 25 | 3.3% | 0.1% | ||
| Q2 25 | 3.3% | — | ||
| Q1 25 | 4.0% | 1.7% | ||
| Q4 24 | 4.8% | 3.0% | ||
| Q3 24 | 3.9% | 1.3% | ||
| Q2 24 | 4.3% | 1.0% |
现金转化率MMMVATE
| Q1 26 | — | — | ||
| Q4 25 | 2.74× | — | ||
| Q3 25 | 2.11× | — | ||
| Q2 25 | -1.32× | — | ||
| Q1 25 | -0.07× | — | ||
| Q4 24 | 2.50× | — | ||
| Q3 24 | -1.30× | — | ||
| Q2 24 | 0.89× | 1.49× |
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% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
