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MARINE PRODUCTS CORP（MPX）与TELOS CORP（TLS）财务数据对比。点击上方公司名可切换其他公司
MARINE PRODUCTS CORP的季度营收约是TELOS CORP的1.4倍（$64.6M vs $46.8M），MARINE PRODUCTS CORP净利率更高（3.7% vs -34.9%，领先38.5%），TELOS CORP同比增速更快（77.4% vs 35.0%），TELOS CORP自由现金流更多（$8.0M vs $4.1M），过去两年TELOS CORP的营收复合增速更高（25.7% vs -3.5%）
Marine Products Corp旗下的West Marine是一家总部位于美国佛罗里达州劳德代尔堡的企业，在北美地区经营247家船艇用品及渔具零售连锁店，同时运营名为蓝色未来的非营利组织，品牌旗舰店面积超5万平方英尺，于2011年11月11日在劳德代尔堡正式开业。
泰洛斯公司（Telos Corporation）是一家信息技术与网络安全企业，总部位于美国弗吉尼亚州阿什本。公司主要服务对象为政府与企业客户，业务合同大部分来自美国国防部，核心客户涵盖美国军方、情报机构、民政部门以及北约盟友机构。
MPX vs TLS — 直观对比
营收规模更大
MPX
是对方的1.4倍
$46.8M
营收增速更快
TLS
高出42.3%
35.0%
净利率更高
MPX
高出38.5%
-34.9%
自由现金流更多
TLS
多$3.8M
$4.1M
两年增速更快
TLS
近两年复合增速
-3.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $64.6M | $46.8M |
| 净利润 | $2.4M | $-16.3M |
| 毛利率 | 19.6% | 35.0% |
| 营业利润率 | 5.8% | -39.6% |
| 净利率 | 3.7% | -34.9% |
| 营收同比 | 35.0% | 77.4% |
| 净利润同比 | -44.6% | -74.8% |
| 每股收益（稀释后） | $0.07 | $-0.22 |
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MPXTLS
| Q4 25 | $64.6M | $46.8M | ||
| Q3 25 | $53.1M | $51.4M | ||
| Q2 25 | $67.7M | $36.0M | ||
| Q1 25 | $59.0M | $30.6M | ||
| Q4 24 | $47.8M | $26.4M | ||
| Q3 24 | $49.9M | $23.8M | ||
| Q2 24 | $69.5M | $28.5M | ||
| Q1 24 | $69.3M | $29.6M |
净利润MPXTLS
| Q4 25 | $2.4M | $-16.3M | ||
| Q3 25 | $2.6M | $-2.1M | ||
| Q2 25 | $4.2M | $-9.5M | ||
| Q1 25 | $2.2M | $-8.6M | ||
| Q4 24 | $4.3M | $-9.3M | ||
| Q3 24 | $3.4M | $-28.1M | ||
| Q2 24 | $5.6M | $-7.8M | ||
| Q1 24 | $4.6M | $-7.4M |
毛利率MPXTLS
| Q4 25 | 19.6% | 35.0% | ||
| Q3 25 | 19.2% | 39.9% | ||
| Q2 25 | 19.1% | 33.2% | ||
| Q1 25 | 18.6% | 39.8% | ||
| Q4 24 | 19.2% | 40.3% | ||
| Q3 24 | 18.4% | 13.2% | ||
| Q2 24 | 18.9% | 34.1% | ||
| Q1 24 | 20.2% | 37.0% |
营业利润率MPXTLS
| Q4 25 | 5.8% | -39.6% | ||
| Q3 25 | 5.4% | -4.8% | ||
| Q2 25 | 7.1% | -27.5% | ||
| Q1 25 | 4.4% | -29.5% | ||
| Q4 24 | 7.7% | -37.6% | ||
| Q3 24 | 7.2% | -121.4% | ||
| Q2 24 | 8.3% | -30.3% | ||
| Q1 24 | 7.6% | -28.5% |
净利率MPXTLS
| Q4 25 | 3.7% | -34.9% | ||
| Q3 25 | 5.0% | -4.1% | ||
| Q2 25 | 6.1% | -26.5% | ||
| Q1 25 | 3.7% | -28.1% | ||
| Q4 24 | 8.9% | -35.4% | ||
| Q3 24 | 6.8% | -118.0% | ||
| Q2 24 | 8.0% | -27.2% | ||
| Q1 24 | 6.6% | -24.9% |
每股收益（稀释后）MPXTLS
| Q4 25 | $0.07 | $-0.22 | ||
| Q3 25 | $0.07 | $-0.03 | ||
| Q2 25 | $0.12 | $-0.13 | ||
| Q1 25 | $0.06 | $-0.12 | ||
| Q4 24 | $0.13 | $-0.13 | ||
| Q3 24 | $0.10 | $-0.39 | ||
| Q2 24 | $0.14 | $-0.11 | ||
| Q1 24 | $0.13 | $-0.10 |
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 | — | $53.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $125.0M | $96.0M |
| 总资产 | $147.2M | $139.9M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MPXTLS
| Q4 25 | — | $53.2M | ||
| Q3 25 | — | $59.0M | ||
| Q2 25 | — | $57.0M | ||
| Q1 25 | — | $57.8M | ||
| Q4 24 | — | $54.6M | ||
| Q3 24 | — | $69.8M | ||
| Q2 24 | — | $80.1M | ||
| Q1 24 | — | $93.9M |
股东权益MPXTLS
| Q4 25 | $125.0M | $96.0M | ||
| Q3 25 | $126.3M | $119.7M | ||
| Q2 25 | $127.2M | $118.4M | ||
| Q1 25 | $126.4M | $126.1M | ||
| Q4 24 | $129.0M | $127.1M | ||
| Q3 24 | $128.8M | $129.5M | ||
| Q2 24 | $129.3M | $149.1M | ||
| Q1 24 | $151.4M | $154.4M |
总资产MPXTLS
| Q4 25 | $147.2M | $139.9M | ||
| Q3 25 | $179.5M | $164.3M | ||
| Q2 25 | $173.2M | $165.0M | ||
| Q1 25 | $182.9M | $158.1M | ||
| Q4 24 | $171.2M | $158.2M | ||
| Q3 24 | $176.3M | $166.3M | ||
| Q2 24 | $175.7M | $182.4M | ||
| Q1 24 | $204.0M | $195.4M |
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 | $4.7M | $8.0M |
| 自由现金流经营现金流 - 资本支出 | $4.1M | $8.0M |
| 自由现金流率自由现金流/营收 | 6.4% | 17.0% |
| 资本支出强度资本支出/营收 | 0.9% | 0.1% |
| 现金转化率经营现金流/净利润 | 2.00× | — |
| 过去12个月自由现金流最近4个季度 | $14.9M | $29.4M |
8季度趋势，按日历期对齐
经营现金流MPXTLS
| Q4 25 | $4.7M | $8.0M | ||
| Q3 25 | $2.6M | $9.1M | ||
| Q2 25 | $-1.6M | $7.0M | ||
| Q1 25 | $10.8M | $6.1M | ||
| Q4 24 | $4.6M | $-10.5M | ||
| Q3 24 | $5.1M | $-7.1M | ||
| Q2 24 | $3.8M | $-8.0M | ||
| Q1 24 | $15.9M | $-350.0K |
自由现金流MPXTLS
| Q4 25 | $4.1M | $8.0M | ||
| Q3 25 | $2.1M | $8.7M | ||
| Q2 25 | $-2.0M | $6.8M | ||
| Q1 25 | $10.7M | $6.0M | ||
| Q4 24 | $3.6M | $-12.4M | ||
| Q3 24 | $3.2M | $-7.1M | ||
| Q2 24 | $3.0M | $-8.2M | ||
| Q1 24 | $15.0M | $-447.0K |
自由现金流率MPXTLS
| Q4 25 | 6.4% | 17.0% | ||
| Q3 25 | 4.0% | 16.9% | ||
| Q2 25 | -3.0% | 19.0% | ||
| Q1 25 | 18.1% | 19.5% | ||
| Q4 24 | 7.6% | -47.0% | ||
| Q3 24 | 6.5% | -30.0% | ||
| Q2 24 | 4.4% | -28.9% | ||
| Q1 24 | 21.7% | -1.5% |
资本支出强度MPXTLS
| Q4 25 | 0.9% | 0.1% | ||
| Q3 25 | 0.8% | 0.9% | ||
| Q2 25 | 0.6% | 0.4% | ||
| Q1 25 | 0.2% | 0.4% | ||
| Q4 24 | 2.1% | 7.1% | ||
| Q3 24 | 3.8% | 0.2% | ||
| Q2 24 | 1.1% | 0.8% | ||
| Q1 24 | 1.3% | 0.3% |
现金转化率MPXTLS
| Q4 25 | 2.00× | — | ||
| Q3 25 | 0.97× | — | ||
| Q2 25 | -0.39× | — | ||
| Q1 25 | 4.88× | — | ||
| Q4 24 | 1.09× | — | ||
| Q3 24 | 1.51× | — | ||
| Q2 24 | 0.68× | — | ||
| Q1 24 | 3.46× | — |
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
MPX
| Boats And Accessories | $63.4M | 98% |
| Parts | $1.1M | 2% |
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
