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MP Materials Corp.（MP）与Target Hospitality Corp.（TH）财务数据对比。点击上方公司名可切换其他公司
Target Hospitality Corp.的季度营收约是MP Materials Corp.的1.4倍（$73.5M vs $52.7M），MP Materials Corp.净利率更高（17.9% vs -20.3%，领先38.2%），Target Hospitality Corp.同比增速更快（22.0% vs -13.6%），过去两年MP Materials Corp.的营收复合增速更高（4.0% vs 0.7%）
MP Materials Corp.是总部位于美国的稀土材料生产商，拥有并运营加利福尼亚州芒廷帕斯矿，这是西半球唯一在产的稀土开采及加工设施，所产核心材料可广泛应用于电动汽车、风力发电机、国防工业等多个关键领域。
Target Hospitality是一家专业住宿服务提供商，主营石油、天然气及矿业项目用工住宿，也提供大型活动、灾后救援所需的临时模块化住宿，总部位于得克萨斯州伍德兰兹，同时在北达科他州威利斯顿、科罗拉多州丹佛以及阿尔伯塔省卡尔加里设有办事处。
MP vs TH — 直观对比
营收规模更大
TH
是对方的1.4倍
$52.7M
营收增速更快
TH
高出35.6%
-13.6%
净利率更高
MP
高出38.2%
-20.3%
两年增速更快
MP
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $52.7M | $73.5M |
| 净利润 | $9.4M | $-14.9M |
| 毛利率 | — | 9.6% |
| 营业利润率 | -7.0% | -22.9% |
| 净利率 | 17.9% | -20.3% |
| 营收同比 | -13.6% | 22.0% |
| 净利润同比 | 142.2% | -219.1% |
| 每股收益（稀释后） | $0.07 | $-0.14 |
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MPTH
| Q4 25 | $52.7M | $73.5M | ||
| Q3 25 | $53.6M | $91.6M | ||
| Q2 25 | $57.4M | $54.9M | ||
| Q1 25 | $60.8M | $54.9M | ||
| Q4 24 | $61.0M | $60.2M | ||
| Q3 24 | $62.9M | $65.8M | ||
| Q2 24 | $31.3M | $67.5M | ||
| Q1 24 | $48.7M | $72.4M |
净利润MPTH
| Q4 25 | $9.4M | $-14.9M | ||
| Q3 25 | $-41.8M | $-795.0K | ||
| Q2 25 | $-30.9M | $-14.9M | ||
| Q1 25 | $-22.6M | $-6.5M | ||
| Q4 24 | $-22.3M | $12.5M | ||
| Q3 24 | $-25.5M | $20.0M | ||
| Q2 24 | $-34.1M | $18.4M | ||
| Q1 24 | $16.5M | $20.4M |
毛利率MPTH
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | -0.6% | ||
| Q1 25 | — | 32.7% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 68.7% | ||
| Q2 24 | — | 69.4% | ||
| Q1 24 | — | 67.8% |
营业利润率MPTH
| Q4 25 | -7.0% | -22.9% | ||
| Q3 25 | -125.2% | 0.1% | ||
| Q2 25 | -76.5% | -30.8% | ||
| Q1 25 | -57.2% | -2.0% | ||
| Q4 24 | -72.1% | 34.5% | ||
| Q3 24 | -62.8% | 42.5% | ||
| Q2 24 | -171.1% | 43.8% | ||
| Q1 24 | -66.6% | 42.0% |
净利率MPTH
| Q4 25 | 17.9% | -20.3% | ||
| Q3 25 | -78.0% | -0.9% | ||
| Q2 25 | -53.8% | -27.2% | ||
| Q1 25 | -37.2% | -11.8% | ||
| Q4 24 | -36.6% | 20.8% | ||
| Q3 24 | -40.5% | 30.4% | ||
| Q2 24 | -108.9% | 27.2% | ||
| Q1 24 | 33.9% | 28.2% |
每股收益（稀释后）MPTH
| Q4 25 | $0.07 | $-0.14 | ||
| Q3 25 | $-0.24 | $-0.01 | ||
| Q2 25 | $-0.19 | $-0.15 | ||
| Q1 25 | $-0.14 | $-0.07 | ||
| Q4 24 | $-0.12 | $0.12 | ||
| Q3 24 | $-0.16 | $0.20 | ||
| Q2 24 | $-0.21 | $0.18 | ||
| Q1 24 | $-0.08 | $0.20 |
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 | $1.2B | $8.3M |
| 总债务越低越好 | $998.7M | $1.7M |
| 股东权益账面价值 | $2.0B | $389.3M |
| 总资产 | $3.9B | $530.2M |
| 负债/权益比越低杠杆越低 | 0.50× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资MPTH
| Q4 25 | $1.2B | $8.3M | ||
| Q3 25 | $1.1B | $30.4M | ||
| Q2 25 | $261.5M | $19.2M | ||
| Q1 25 | $198.3M | $34.5M | ||
| Q4 24 | $282.4M | $190.7M | ||
| Q3 24 | $284.4M | $177.7M | ||
| Q2 24 | $295.6M | $154.3M | ||
| Q1 24 | $296.5M | $124.3M |
总债务MPTH
| Q4 25 | $998.7M | $1.7M | ||
| Q3 25 | $997.3M | $2.0M | ||
| Q2 25 | $910.8M | $26.3M | ||
| Q1 25 | $909.8M | $42.9M | ||
| Q4 24 | $908.7M | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
股东权益MPTH
| Q4 25 | $2.0B | $389.3M | ||
| Q3 25 | $2.0B | $402.4M | ||
| Q2 25 | $1.0B | $401.3M | ||
| Q1 25 | $1.0B | $415.3M | ||
| Q4 24 | $1.1B | $421.1M | ||
| Q3 24 | $1.1B | $417.6M | ||
| Q2 24 | $1.1B | $397.2M | ||
| Q1 24 | $1.1B | $375.5M |
总资产MPTH
| Q4 25 | $3.9B | $530.2M | ||
| Q3 25 | $3.8B | $541.2M | ||
| Q2 25 | $2.3B | $533.7M | ||
| Q1 25 | $2.4B | $562.5M | ||
| Q4 24 | $2.3B | $725.8M | ||
| Q3 24 | $2.3B | $709.8M | ||
| Q2 24 | $2.4B | $697.0M | ||
| Q1 24 | $2.4B | $687.2M |
负债/权益比MPTH
| Q4 25 | 0.50× | 0.00× | ||
| Q3 25 | 0.51× | 0.01× | ||
| Q2 25 | 0.90× | 0.07× | ||
| Q1 25 | 0.88× | 0.10× | ||
| Q4 24 | 0.86× | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.48× |
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 | $-46.9M | $5.7M |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | — |
| 自由现金流率自由现金流/营收 | -207.4% | — |
| 资本支出强度资本支出/营收 | 118.5% | — |
| 现金转化率经营现金流/净利润 | -4.97× | — |
| 过去12个月自由现金流最近4个季度 | $-328.1M | — |
8季度趋势，按日历期对齐
经营现金流MPTH
| Q4 25 | $-46.9M | $5.7M | ||
| Q3 25 | $-42.0M | $53.4M | ||
| Q2 25 | $-3.7M | $11.1M | ||
| Q1 25 | $-63.2M | $3.9M | ||
| Q4 24 | $30.5M | $30.6M | ||
| Q3 24 | $-6.8M | $31.4M | ||
| Q2 24 | $30.8M | $39.1M | ||
| Q1 24 | $-41.1M | $50.6M |
自由现金流MPTH
| Q4 25 | $-109.3M | — | ||
| Q3 25 | $-92.5M | — | ||
| Q2 25 | $-32.7M | — | ||
| Q1 25 | $-93.7M | $-11.6M | ||
| Q4 24 | $-11.2M | — | ||
| Q3 24 | $-53.3M | — | ||
| Q2 24 | $-15.6M | — | ||
| Q1 24 | $-93.0M | — |
自由现金流率MPTH
| Q4 25 | -207.4% | — | ||
| Q3 25 | -172.8% | — | ||
| Q2 25 | -56.9% | — | ||
| Q1 25 | -154.0% | -21.1% | ||
| Q4 24 | -18.3% | — | ||
| Q3 24 | -84.7% | — | ||
| Q2 24 | -50.1% | — | ||
| Q1 24 | -191.0% | — |
资本支出强度MPTH
| Q4 25 | 118.5% | — | ||
| Q3 25 | 94.3% | — | ||
| Q2 25 | 50.5% | — | ||
| Q1 25 | 50.1% | 28.2% | ||
| Q4 24 | 68.3% | — | ||
| Q3 24 | 73.8% | — | ||
| Q2 24 | 148.7% | — | ||
| Q1 24 | 106.5% | — |
现金转化率MPTH
| Q4 25 | -4.97× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 2.13× | ||
| Q1 24 | -2.49× | 2.48× |
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
MP
| Materials Segment | $35.6M | 68% |
| Other | $17.1M | 32% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
