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美盛公司（MOS）与Waste Connections, Inc.（WCN）财务数据对比。点击上方公司名可切换其他公司
美盛公司的季度营收约是Waste Connections, Inc.的1.3倍（$3.0B vs $2.4B），Waste Connections, Inc.净利率更高（10.9% vs -17.5%，领先28.4%），美盛公司同比增速更快（5.6% vs 5.0%），Waste Connections, Inc.自由现金流更多（$172.6M vs $-405.7M），过去两年Waste Connections, Inc.的营收复合增速更高（7.0% vs 5.3%）
美盛公司（The Mosaic Company）是总部位于美国佛罗里达州坦帕的化工企业，主营磷矿、钾矿开采及尿素采集，依托多元国际分销网络和旗下肥料业务板块生产销售农用肥料，是美国规模最大的钾肥、磷肥生产商。
Waste Connections, Inc.是北美综合废弃物服务企业，总部位于美国得克萨斯州伍德兰兹，业务范围覆盖美国与加拿大，主营固体废弃物的收集、转运、处理及回收服务，是北美第三大废弃物管理企业。
MOS vs WCN — 直观对比
营收规模更大
MOS
是对方的1.3倍
$2.4B
营收增速更快
MOS
高出0.6%
5.0%
净利率更高
WCN
高出28.4%
-17.5%
自由现金流更多
WCN
多$578.3M
$-405.7M
两年增速更快
WCN
近两年复合增速
5.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.0B | $2.4B |
| 净利润 | $-519.5M | $258.5M |
| 毛利率 | 11.5% | 42.5% |
| 营业利润率 | -3.4% | 17.7% |
| 净利率 | -17.5% | 10.9% |
| 营收同比 | 5.6% | 5.0% |
| 净利润同比 | -407.4% | 231.9% |
| 每股收益（稀释后） | $-1.63 | $1.01 |
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MOSWCN
| Q4 25 | $3.0B | $2.4B | ||
| Q3 25 | $3.5B | $2.5B | ||
| Q2 25 | $3.0B | $2.4B | ||
| Q1 25 | $2.6B | $2.2B | ||
| Q4 24 | $2.8B | $2.3B | ||
| Q3 24 | $2.8B | $2.3B | ||
| Q2 24 | $2.8B | $2.2B | ||
| Q1 24 | $2.7B | $2.1B |
净利润MOSWCN
| Q4 25 | $-519.5M | $258.5M | ||
| Q3 25 | $411.4M | $286.3M | ||
| Q2 25 | $410.7M | $290.3M | ||
| Q1 25 | $238.1M | $241.5M | ||
| Q4 24 | $169.0M | $-196.0M | ||
| Q3 24 | $122.2M | $308.0M | ||
| Q2 24 | $-161.5M | $275.5M | ||
| Q1 24 | $45.2M | $230.1M |
毛利率MOSWCN
| Q4 25 | 11.5% | 42.5% | ||
| Q3 25 | 16.0% | 42.8% | ||
| Q2 25 | 17.3% | 42.1% | ||
| Q1 25 | 18.6% | 42.0% | ||
| Q4 24 | 10.7% | 41.4% | ||
| Q3 24 | 14.8% | 42.5% | ||
| Q2 24 | 14.0% | 42.1% | ||
| Q1 24 | 14.9% | 41.1% |
营业利润率MOSWCN
| Q4 25 | -3.4% | 17.7% | ||
| Q3 25 | 9.8% | 17.9% | ||
| Q2 25 | 8.1% | 19.1% | ||
| Q1 25 | 12.9% | 17.5% | ||
| Q4 24 | 3.5% | -8.8% | ||
| Q3 24 | 4.1% | 20.3% | ||
| Q2 24 | 8.3% | 18.9% | ||
| Q1 24 | 6.5% | 17.7% |
净利率MOSWCN
| Q4 25 | -17.5% | 10.9% | ||
| Q3 25 | 11.9% | 11.6% | ||
| Q2 25 | 13.7% | 12.1% | ||
| Q1 25 | 9.1% | 10.8% | ||
| Q4 24 | 6.0% | -8.7% | ||
| Q3 24 | 4.3% | 13.2% | ||
| Q2 24 | -5.7% | 12.3% | ||
| Q1 24 | 1.7% | 11.1% |
每股收益（稀释后）MOSWCN
| Q4 25 | $-1.63 | $1.01 | ||
| Q3 25 | $1.29 | $1.11 | ||
| Q2 25 | $1.29 | $1.12 | ||
| Q1 25 | $0.75 | $0.93 | ||
| Q4 24 | $0.53 | $-0.76 | ||
| Q3 24 | $0.38 | $1.19 | ||
| Q2 24 | $-0.50 | $1.07 | ||
| Q1 24 | $0.14 | $0.89 |
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 | $276.6M | $46.0M |
| 总债务越低越好 | $4.3B | $8.8B |
| 股东权益账面价值 | $12.1B | $8.2B |
| 总资产 | $24.5B | $21.1B |
| 负债/权益比越低杠杆越低 | 0.35× | 1.07× |
8季度趋势，按日历期对齐
现金及短期投资MOSWCN
| Q4 25 | $276.6M | $46.0M | ||
| Q3 25 | $153.3M | $117.6M | ||
| Q2 25 | $286.2M | $110.2M | ||
| Q1 25 | $259.2M | $111.2M | ||
| Q4 24 | $272.8M | $62.4M | ||
| Q3 24 | $301.6M | $115.3M | ||
| Q2 24 | $322.0M | $78.7M | ||
| Q1 24 | $336.7M | $112.0M |
总债务MOSWCN
| Q4 25 | $4.3B | $8.8B | ||
| Q3 25 | $3.4B | $8.6B | ||
| Q2 25 | $3.3B | $8.3B | ||
| Q1 25 | $3.3B | $8.4B | ||
| Q4 24 | $3.3B | $8.1B | ||
| Q3 24 | $3.2B | $8.2B | ||
| Q2 24 | $3.2B | $7.7B | ||
| Q1 24 | $3.2B | $7.8B |
股东权益MOSWCN
| Q4 25 | $12.1B | $8.2B | ||
| Q3 25 | $12.8B | $8.1B | ||
| Q2 25 | $12.4B | $8.4B | ||
| Q1 25 | $11.8B | $8.0B | ||
| Q4 24 | $11.5B | $7.9B | ||
| Q3 24 | $11.8B | $8.3B | ||
| Q2 24 | $11.7B | $8.0B | ||
| Q1 24 | $12.0B | $7.8B |
总资产MOSWCN
| Q4 25 | $24.5B | $21.1B | ||
| Q3 25 | $24.7B | $20.8B | ||
| Q2 25 | $24.3B | $20.7B | ||
| Q1 25 | $23.2B | $20.3B | ||
| Q4 24 | $22.9B | $19.8B | ||
| Q3 24 | $23.3B | $20.1B | ||
| Q2 24 | $22.6B | $19.3B | ||
| Q1 24 | $22.9B | $19.1B |
负债/权益比MOSWCN
| Q4 25 | 0.35× | 1.07× | ||
| Q3 25 | 0.26× | 1.07× | ||
| Q2 25 | 0.27× | 1.00× | ||
| Q1 25 | 0.28× | 1.05× | ||
| Q4 24 | 0.29× | 1.03× | ||
| Q3 24 | 0.27× | 0.99× | ||
| Q2 24 | 0.27× | 0.96× | ||
| Q1 24 | 0.27× | 1.00× |
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 | $-56.1M | $556.9M |
| 自由现金流经营现金流 - 资本支出 | $-405.7M | $172.6M |
| 自由现金流率自由现金流/营收 | -13.6% | 7.3% |
| 资本支出强度资本支出/营收 | 11.8% | 16.2% |
| 现金转化率经营现金流/净利润 | — | 2.15× |
| 过去12个月自由现金流最近4个季度 | $-534.6M | $1.2B |
8季度趋势，按日历期对齐
经营现金流MOSWCN
| Q4 25 | $-56.1M | $556.9M | ||
| Q3 25 | $228.5M | $677.4M | ||
| Q2 25 | $609.5M | $638.2M | ||
| Q1 25 | $42.9M | $541.5M | ||
| Q4 24 | $219.3M | $568.9M | ||
| Q3 24 | $312.9M | $558.3M | ||
| Q2 24 | $847.0M | $611.4M | ||
| Q1 24 | $-80.0M | $490.3M |
自由现金流MOSWCN
| Q4 25 | $-405.7M | $172.6M | ||
| Q3 25 | $-135.9M | $380.3M | ||
| Q2 25 | $304.9M | $352.9M | ||
| Q1 25 | $-297.9M | $329.1M | ||
| Q4 24 | $-74.8M | $172.2M | ||
| Q3 24 | $72.1M | $286.2M | ||
| Q2 24 | $513.1M | $394.2M | ||
| Q1 24 | $-463.0M | $320.4M |
自由现金流率MOSWCN
| Q4 25 | -13.6% | 7.3% | ||
| Q3 25 | -3.9% | 15.5% | ||
| Q2 25 | 10.1% | 14.7% | ||
| Q1 25 | -11.4% | 14.8% | ||
| Q4 24 | -2.7% | 7.6% | ||
| Q3 24 | 2.6% | 12.2% | ||
| Q2 24 | 18.2% | 17.5% | ||
| Q1 24 | -17.3% | 15.5% |
资本支出强度MOSWCN
| Q4 25 | 11.8% | 16.2% | ||
| Q3 25 | 10.6% | 12.1% | ||
| Q2 25 | 10.1% | 11.9% | ||
| Q1 25 | 13.0% | 9.5% | ||
| Q4 24 | 10.4% | 17.6% | ||
| Q3 24 | 8.6% | 11.6% | ||
| Q2 24 | 11.9% | 9.7% | ||
| Q1 24 | 14.3% | 8.2% |
现金转化率MOSWCN
| Q4 25 | — | 2.15× | ||
| Q3 25 | 0.56× | 2.37× | ||
| Q2 25 | 1.48× | 2.20× | ||
| Q1 25 | 0.18× | 2.24× | ||
| Q4 24 | 1.30× | — | ||
| Q3 24 | 2.56× | 1.81× | ||
| Q2 24 | — | 2.22× | ||
| Q1 24 | -1.77× | 2.13× |
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
MOS
暂无分部数据
WCN
| Southern | $552.9M | 23% |
| Central | $450.9M | 19% |
| Landfill | $386.5M | 16% |
| Transfer | $370.6M | 16% |
| Other | $347.9M | 15% |
| Exploration And Production Waste Treatment Recovery And Disposal | $171.1M | 7% |
| Solid Waste Recycling | $51.2M | 2% |
| Intermodal And Other | $42.3M | 2% |
