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摩丁制造（MOD）与ADVANCED DRAINAGE SYSTEMS, INC.（WMS）财务数据对比。点击上方公司名可切换其他公司
摩丁制造的季度营收约是ADVANCED DRAINAGE SYSTEMS, INC.的1.2倍（$805.0M vs $693.4M），ADVANCED DRAINAGE SYSTEMS, INC.净利率更高（13.5% vs -5.9%，领先19.4%），摩丁制造同比增速更快（30.5% vs 0.4%），ADVANCED DRAINAGE SYSTEMS, INC.自由现金流更多（$183.6M vs $-17.1M），过去两年摩丁制造的营收复合增速更高（15.5% vs 3.0%）
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。
Advanced Drainage Systems（简称ADS）是一家美国企业，主营聚丙烯、聚乙烯管材，塑料渗滤场系统、化粪池及配套配件、雨水调蓄设施、PVC排水构件、管件、水过滤与分离设备的设计、生产及销售，是美国规模最大的高密度聚乙烯管道生产商，总部位于俄亥俄州希利厄德。
MOD vs WMS — 直观对比
营收规模更大
MOD
是对方的1.2倍
$693.4M
营收增速更快
MOD
高出30.1%
0.4%
净利率更高
WMS
高出19.4%
-5.9%
自由现金流更多
WMS
多$200.7M
$-17.1M
两年增速更快
MOD
近两年复合增速
3.0%
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $805.0M | $693.4M |
| 净利润 | $-47.4M | $93.6M |
| 毛利率 | 23.1% | 37.4% |
| 营业利润率 | 11.1% | 19.7% |
| 净利率 | -5.9% | 13.5% |
| 营收同比 | 30.5% | 0.4% |
| 净利润同比 | -215.6% | 15.3% |
| 每股收益（稀释后） | $-0.90 | $1.19 |
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MODWMS
| Q4 25 | $805.0M | $693.4M | ||
| Q3 25 | $738.9M | $850.4M | ||
| Q2 25 | $682.8M | $829.9M | ||
| Q1 25 | $647.2M | $615.8M | ||
| Q4 24 | $616.8M | $690.5M | ||
| Q3 24 | $658.0M | $782.6M | ||
| Q2 24 | $661.5M | $815.3M | ||
| Q1 24 | $603.5M | $653.8M |
净利润MODWMS
| Q4 25 | $-47.4M | $93.6M | ||
| Q3 25 | $44.4M | $156.0M | ||
| Q2 25 | $51.2M | $143.9M | ||
| Q1 25 | $49.6M | $77.2M | ||
| Q4 24 | $41.0M | $81.2M | ||
| Q3 24 | $46.1M | $130.4M | ||
| Q2 24 | $47.3M | $161.4M | ||
| Q1 24 | $25.8M | $94.8M |
毛利率MODWMS
| Q4 25 | 23.1% | 37.4% | ||
| Q3 25 | 22.3% | 40.0% | ||
| Q2 25 | 24.2% | 39.8% | ||
| Q1 25 | 25.6% | 36.7% | ||
| Q4 24 | 24.3% | 35.0% | ||
| Q3 24 | 25.2% | 37.6% | ||
| Q2 24 | 24.6% | 40.8% | ||
| Q1 24 | 22.4% | 38.5% |
营业利润率MODWMS
| Q4 25 | 11.1% | 19.7% | ||
| Q3 25 | 9.9% | 26.3% | ||
| Q2 25 | 11.1% | 24.8% | ||
| Q1 25 | 11.5% | 19.0% | ||
| Q4 24 | 9.6% | 18.4% | ||
| Q3 24 | 11.4% | 23.9% | ||
| Q2 24 | 11.2% | 27.7% | ||
| Q1 24 | 7.8% | 20.7% |
净利率MODWMS
| Q4 25 | -5.9% | 13.5% | ||
| Q3 25 | 6.0% | 18.3% | ||
| Q2 25 | 7.5% | 17.3% | ||
| Q1 25 | 7.7% | 12.5% | ||
| Q4 24 | 6.6% | 11.8% | ||
| Q3 24 | 7.0% | 16.7% | ||
| Q2 24 | 7.2% | 19.8% | ||
| Q1 24 | 4.3% | 14.5% |
每股收益（稀释后）MODWMS
| Q4 25 | $-0.90 | $1.19 | ||
| Q3 25 | $0.83 | $1.99 | ||
| Q2 25 | $0.95 | $1.84 | ||
| Q1 25 | $0.92 | $0.99 | ||
| Q4 24 | $0.76 | $1.04 | ||
| Q3 24 | $0.86 | $1.67 | ||
| Q2 24 | $0.88 | $2.06 | ||
| Q1 24 | $0.48 | $1.22 |
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 | $1.0B |
| 总债务越低越好 | $570.7M | — |
| 股东权益账面价值 | $1.1B | $1.9B |
| 总资产 | $2.5B | $4.1B |
| 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MODWMS
| Q4 25 | $98.7M | $1.0B | ||
| Q3 25 | $83.8M | $812.9M | ||
| Q2 25 | $124.5M | $638.3M | ||
| Q1 25 | $71.6M | $463.3M | ||
| Q4 24 | $83.8M | $488.9M | ||
| Q3 24 | $78.6M | $613.0M | ||
| Q2 24 | $72.9M | $541.6M | ||
| Q1 24 | $60.1M | $490.2M |
总债务MODWMS
| Q4 25 | $570.7M | — | ||
| Q3 25 | $525.8M | — | ||
| Q2 25 | $482.1M | — | ||
| Q1 25 | $296.7M | $1.3B | ||
| Q4 24 | $330.0M | — | ||
| Q3 24 | $359.1M | — | ||
| Q2 24 | $405.7M | — | ||
| Q1 24 | $399.9M | $1.3B |
股东权益MODWMS
| Q4 25 | $1.1B | $1.9B | ||
| Q3 25 | $1.1B | $1.8B | ||
| Q2 25 | $1.0B | $1.7B | ||
| Q1 25 | $910.2M | $1.5B | ||
| Q4 24 | $855.1M | $1.5B | ||
| Q3 24 | $858.8M | $1.4B | ||
| Q2 24 | $788.4M | $1.3B | ||
| Q1 24 | $747.6M | $1.2B |
总资产MODWMS
| Q4 25 | $2.5B | $4.1B | ||
| Q3 25 | $2.4B | $4.1B | ||
| Q2 25 | $2.2B | $3.9B | ||
| Q1 25 | $1.9B | $3.7B | ||
| Q4 24 | $1.8B | $3.6B | ||
| Q3 24 | $1.9B | $3.5B | ||
| Q2 24 | $1.9B | $3.4B | ||
| Q1 24 | $1.9B | $3.3B |
负债/权益比MODWMS
| Q4 25 | 0.51× | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | 0.33× | 0.83× | ||
| Q4 24 | 0.39× | — | ||
| Q3 24 | 0.42× | — | ||
| Q2 24 | 0.51× | — | ||
| Q1 24 | 0.53× | 1.11× |
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 | $269.3M |
| 自由现金流经营现金流 - 资本支出 | $-17.1M | $183.6M |
| 自由现金流率自由现金流/营收 | -2.1% | 26.5% |
| 资本支出强度资本支出/营收 | 5.2% | 12.4% |
| 现金转化率经营现金流/净利润 | — | 2.88× |
| 过去12个月自由现金流最近4个季度 | $-20.3M | $577.1M |
8季度趋势，按日历期对齐
经营现金流MODWMS
| Q4 25 | $24.7M | $269.3M | ||
| Q3 25 | $1.4M | $234.9M | ||
| Q2 25 | $27.7M | $275.0M | ||
| Q1 25 | $54.8M | $41.2M | ||
| Q4 24 | $60.7M | $189.9M | ||
| Q3 24 | $57.3M | $166.9M | ||
| Q2 24 | $40.5M | $183.4M | ||
| Q1 24 | $39.6M | $17.7M |
自由现金流MODWMS
| Q4 25 | $-17.1M | $183.6M | ||
| Q3 25 | $-30.5M | $176.4M | ||
| Q2 25 | $200.0K | $222.4M | ||
| Q1 25 | $27.1M | $-5.3M | ||
| Q4 24 | $44.7M | $135.7M | ||
| Q3 24 | $43.8M | $112.4M | ||
| Q2 24 | $13.7M | $125.7M | ||
| Q1 24 | $-4.3M | $-29.8M |
自由现金流率MODWMS
| Q4 25 | -2.1% | 26.5% | ||
| Q3 25 | -4.1% | 20.7% | ||
| Q2 25 | 0.0% | 26.8% | ||
| Q1 25 | 4.2% | -0.9% | ||
| Q4 24 | 7.2% | 19.7% | ||
| Q3 24 | 6.7% | 14.4% | ||
| Q2 24 | 2.1% | 15.4% | ||
| Q1 24 | -0.7% | -4.6% |
资本支出强度MODWMS
| Q4 25 | 5.2% | 12.4% | ||
| Q3 25 | 4.3% | 6.9% | ||
| Q2 25 | 4.0% | 6.3% | ||
| Q1 25 | 4.3% | 7.6% | ||
| Q4 24 | 2.6% | 7.9% | ||
| Q3 24 | 2.1% | 7.0% | ||
| Q2 24 | 4.1% | 7.1% | ||
| Q1 24 | 7.3% | 7.3% |
现金转化率MODWMS
| Q4 25 | — | 2.88× | ||
| Q3 25 | 0.03× | 1.51× | ||
| Q2 25 | 0.54× | 1.91× | ||
| Q1 25 | 1.10× | 0.53× | ||
| Q4 24 | 1.48× | 2.34× | ||
| Q3 24 | 1.24× | 1.28× | ||
| Q2 24 | 0.86× | 1.14× | ||
| Q1 24 | 1.53× | 0.19× |
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% |
WMS
| Reportable Segment Aggregation Before Other Operating Segment | $557.3M | 80% |
| Other | $85.5M | 12% |
| Pipe | $35.5M | 5% |
| Allied Products And Other | $15.0M | 2% |
