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摩丁制造（MOD）与明晟（MSCI）财务数据对比。点击上方公司名可切换其他公司
明晟的季度营收约是摩丁制造的1.0倍（$822.5M vs $805.0M），明晟净利率更高（34.6% vs -5.9%，领先40.5%），摩丁制造同比增速更快（30.5% vs 10.6%），明晟自由现金流更多（$488.7M vs $-17.1M），过去两年摩丁制造的营收复合增速更高（15.5% vs 10.0%）
摩丁制造是1916年成立于美国的热管理企业。创始人亚瑟·B·摩丁获拖拉机Spirex散热器专利后创立公司，曾为福特T型车生产Turbotube散热器，1941年在威斯康星州拉辛建成全球首个车用风洞，二战期间为P-51野马战斗机供应后冷却器。
MSCI（明晟）是总部位于美国纽约的金融服务企业，为全球市场提供股票、固定收益、房地产指数、多资产组合分析工具及ESG、气候金融相关产品，旗下运营MSCI全球指数、MSCI新兴市场指数、MSCI全球所有国家（ACWI）指数等多款知名指数产品。
MOD vs MSCI — 直观对比
营收规模更大
MSCI
是对方的1.0倍
$805.0M
营收增速更快
MOD
高出19.9%
10.6%
净利率更高
MSCI
高出40.5%
-5.9%
自由现金流更多
MSCI
多$505.8M
$-17.1M
两年增速更快
MOD
近两年复合增速
10.0%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $805.0M | $822.5M |
| 净利润 | $-47.4M | $284.7M |
| 毛利率 | 23.1% | — |
| 营业利润率 | 11.1% | 56.4% |
| 净利率 | -5.9% | 34.6% |
| 营收同比 | 30.5% | 10.6% |
| 净利润同比 | -215.6% | -6.8% |
| 每股收益（稀释后） | $-0.90 | $3.81 |
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MODMSCI
| Q4 25 | $805.0M | $822.5M | ||
| Q3 25 | $738.9M | $793.4M | ||
| Q2 25 | $682.8M | $772.7M | ||
| Q1 25 | $647.2M | $745.8M | ||
| Q4 24 | $616.8M | $743.5M | ||
| Q3 24 | $658.0M | $724.7M | ||
| Q2 24 | $661.5M | $707.9M | ||
| Q1 24 | $603.5M | $680.0M |
净利润MODMSCI
| Q4 25 | $-47.4M | $284.7M | ||
| Q3 25 | $44.4M | $325.4M | ||
| Q2 25 | $51.2M | $303.6M | ||
| Q1 25 | $49.6M | $288.6M | ||
| Q4 24 | $41.0M | $305.5M | ||
| Q3 24 | $46.1M | $280.9M | ||
| Q2 24 | $47.3M | $266.8M | ||
| Q1 24 | $25.8M | $256.0M |
毛利率MODMSCI
| Q4 25 | 23.1% | — | ||
| Q3 25 | 22.3% | — | ||
| Q2 25 | 24.2% | — | ||
| Q1 25 | 25.6% | — | ||
| Q4 24 | 24.3% | — | ||
| Q3 24 | 25.2% | — | ||
| Q2 24 | 24.6% | — | ||
| Q1 24 | 22.4% | — |
营业利润率MODMSCI
| Q4 25 | 11.1% | 56.4% | ||
| Q3 25 | 9.9% | 56.4% | ||
| Q2 25 | 11.1% | 55.0% | ||
| Q1 25 | 11.5% | 50.6% | ||
| Q4 24 | 9.6% | 54.5% | ||
| Q3 24 | 11.4% | 55.4% | ||
| Q2 24 | 11.2% | 54.0% | ||
| Q1 24 | 7.8% | 49.9% |
净利率MODMSCI
| Q4 25 | -5.9% | 34.6% | ||
| Q3 25 | 6.0% | 41.0% | ||
| Q2 25 | 7.5% | 39.3% | ||
| Q1 25 | 7.7% | 38.7% | ||
| Q4 24 | 6.6% | 41.1% | ||
| Q3 24 | 7.0% | 38.8% | ||
| Q2 24 | 7.2% | 37.7% | ||
| Q1 24 | 4.3% | 37.6% |
每股收益（稀释后）MODMSCI
| Q4 25 | $-0.90 | $3.81 | ||
| Q3 25 | $0.83 | $4.25 | ||
| Q2 25 | $0.95 | $3.92 | ||
| Q1 25 | $0.92 | $3.71 | ||
| Q4 24 | $0.76 | $3.89 | ||
| Q3 24 | $0.86 | $3.57 | ||
| Q2 24 | $0.88 | $3.37 | ||
| Q1 24 | $0.48 | $3.22 |
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 | $98.7M | $515.3M |
| 总债务越低越好 | $570.7M | $6.2B |
| 股东权益账面价值 | $1.1B | $-2.7B |
| 总资产 | $2.5B | $5.7B |
| 负债/权益比越低杠杆越低 | 0.51× | — |
8季度趋势，按日历期对齐
现金及短期投资MODMSCI
| Q4 25 | $98.7M | $515.3M | ||
| Q3 25 | $83.8M | $400.1M | ||
| Q2 25 | $124.5M | $347.3M | ||
| Q1 25 | $71.6M | $360.7M | ||
| Q4 24 | $83.8M | $409.4M | ||
| Q3 24 | $78.6M | $501.0M | ||
| Q2 24 | $72.9M | $451.4M | ||
| Q1 24 | $60.1M | $519.3M |
总债务MODMSCI
| Q4 25 | $570.7M | $6.2B | ||
| Q3 25 | $525.8M | $5.5B | ||
| Q2 25 | $482.1M | $4.5B | ||
| Q1 25 | $296.7M | $4.5B | ||
| Q4 24 | $330.0M | $4.5B | ||
| Q3 24 | $359.1M | $4.5B | ||
| Q2 24 | $405.7M | $4.5B | ||
| Q1 24 | $399.9M | $4.5B |
股东权益MODMSCI
| Q4 25 | $1.1B | $-2.7B | ||
| Q3 25 | $1.1B | $-1.9B | ||
| Q2 25 | $1.0B | $-886.2M | ||
| Q1 25 | $910.2M | $-958.6M | ||
| Q4 24 | $855.1M | $-940.0M | ||
| Q3 24 | $858.8M | $-751.0M | ||
| Q2 24 | $788.4M | $-734.5M | ||
| Q1 24 | $747.6M | $-650.5M |
总资产MODMSCI
| Q4 25 | $2.5B | $5.7B | ||
| Q3 25 | $2.4B | $5.4B | ||
| Q2 25 | $2.2B | $5.4B | ||
| Q1 25 | $1.9B | $5.3B | ||
| Q4 24 | $1.8B | $5.4B | ||
| Q3 24 | $1.9B | $5.4B | ||
| Q2 24 | $1.9B | $5.5B | ||
| Q1 24 | $1.9B | $5.5B |
负债/权益比MODMSCI
| Q4 25 | 0.51× | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 0.39× | — | ||
| Q3 24 | 0.42× | — | ||
| Q2 24 | 0.51× | — | ||
| Q1 24 | 0.53× | — |
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 | $24.7M | $501.1M |
| 自由现金流经营现金流 - 资本支出 | $-17.1M | $488.7M |
| 自由现金流率自由现金流/营收 | -2.1% | 59.4% |
| 资本支出强度资本支出/营收 | 5.2% | 1.5% |
| 现金转化率经营现金流/净利润 | — | 1.76× |
| 过去12个月自由现金流最近4个季度 | $-20.3M | $1.5B |
8季度趋势，按日历期对齐
经营现金流MODMSCI
| Q4 25 | $24.7M | $501.1M | ||
| Q3 25 | $1.4M | $449.4M | ||
| Q2 25 | $27.7M | $336.1M | ||
| Q1 25 | $54.8M | $301.7M | ||
| Q4 24 | $60.7M | $430.6M | ||
| Q3 24 | $57.3M | $421.6M | ||
| Q2 24 | $40.5M | $349.2M | ||
| Q1 24 | $39.6M | $300.1M |
自由现金流MODMSCI
| Q4 25 | $-17.1M | $488.7M | ||
| Q3 25 | $-30.5M | $445.5M | ||
| Q2 25 | $200.0K | $324.7M | ||
| Q1 25 | $27.1M | $290.2M | ||
| Q4 24 | $44.7M | $416.4M | ||
| Q3 24 | $43.8M | $415.0M | ||
| Q2 24 | $13.7M | $340.6M | ||
| Q1 24 | $-4.3M | $295.9M |
自由现金流率MODMSCI
| Q4 25 | -2.1% | 59.4% | ||
| Q3 25 | -4.1% | 56.2% | ||
| Q2 25 | 0.0% | 42.0% | ||
| Q1 25 | 4.2% | 38.9% | ||
| Q4 24 | 7.2% | 56.0% | ||
| Q3 24 | 6.7% | 57.3% | ||
| Q2 24 | 2.1% | 48.1% | ||
| Q1 24 | -0.7% | 43.5% |
资本支出强度MODMSCI
| Q4 25 | 5.2% | 1.5% | ||
| Q3 25 | 4.3% | 0.5% | ||
| Q2 25 | 4.0% | 1.5% | ||
| Q1 25 | 4.3% | 1.5% | ||
| Q4 24 | 2.6% | 1.9% | ||
| Q3 24 | 2.1% | 0.9% | ||
| Q2 24 | 4.1% | 1.2% | ||
| Q1 24 | 7.3% | 0.6% |
现金转化率MODMSCI
| Q4 25 | — | 1.76× | ||
| Q3 25 | 0.03× | 1.38× | ||
| Q2 25 | 0.54× | 1.11× | ||
| Q1 25 | 1.10× | 1.05× | ||
| Q4 24 | 1.48× | 1.41× | ||
| Q3 24 | 1.24× | 1.50× | ||
| Q2 24 | 0.86× | 1.31× | ||
| Q1 24 | 1.53× | 1.17× |
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
MOD
| Data Centers | $296.9M | 37% |
| Performance Technologies | $266.0M | 33% |
| Hvac Technologies | $107.1M | 13% |
| Air Cooled | $92.4M | 11% |
| Lb White | $25.6M | 3% |
| Climate By Design | $10.2M | 1% |
| Absolutaire | $7.0M | 1% |
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
