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MERCURY SYSTEMS INC（MRCY）与RBC Bearings INC（RBC）财务数据对比。点击上方公司名可切换其他公司
RBC Bearings INC的季度营收约是MERCURY SYSTEMS INC的2.0倍（$461.6M vs $232.9M），RBC Bearings INC净利率更高（14.6% vs -6.5%，领先21.1%），RBC Bearings INC同比增速更快（17.0% vs 4.4%），RBC Bearings INC自由现金流更多（$99.1M vs $45.7M），过去两年MERCURY SYSTEMS INC的营收复合增速更高（5.7% vs 5.6%）
Mercury Systems是一家服务于航空航天与国防领域的科技企业，专注于设计、研发及生产开放式架构计算机软硬件产品，覆盖安全嵌入式处理模块与子系统、航电任务计算机及显示器、加固型安全服务器、可信微电子组件与子系统等多类产品。
该文本实际介绍的并非RBC Bearings，而是美国多佛公司。多佛是一家工业产品综合制造商，1955年成立，总部位于伊利诺伊州当纳斯格罗夫。2021年其业务分为五大板块：工程产品、清洁能源与加注、成像与识别、泵与工艺解决方案、气候与可持续技术，是标普500成分股，在纽约证券交易所上市。
MRCY vs RBC — 直观对比
营收规模更大
RBC
是对方的2.0倍
$232.9M
营收增速更快
RBC
高出12.7%
4.4%
净利率更高
RBC
高出21.1%
-6.5%
自由现金流更多
RBC
多$53.4M
$45.7M
两年增速更快
MRCY
近两年复合增速
5.6%
损益表 — Q2 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $232.9M | $461.6M |
| 净利润 | $-15.1M | $67.4M |
| 毛利率 | 26.0% | 44.3% |
| 营业利润率 | -4.6% | 22.3% |
| 净利率 | -6.5% | 14.6% |
| 营收同比 | 4.4% | 17.0% |
| 净利润同比 | 14.1% | 16.4% |
| 每股收益（稀释后） | $-0.26 | $2.13 |
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MRCYRBC
| Q4 25 | $232.9M | $461.6M | ||
| Q3 25 | $225.2M | $455.3M | ||
| Q2 25 | $273.1M | $436.0M | ||
| Q1 25 | $211.4M | $437.7M | ||
| Q4 24 | $223.1M | $394.4M | ||
| Q3 24 | $204.4M | $397.9M | ||
| Q2 24 | $248.6M | $406.3M | ||
| Q1 24 | $208.3M | $413.7M |
净利润MRCYRBC
| Q4 25 | $-15.1M | $67.4M | ||
| Q3 25 | $-12.5M | $60.0M | ||
| Q2 25 | $16.4M | $68.5M | ||
| Q1 25 | $-19.2M | $72.7M | ||
| Q4 24 | $-17.6M | $57.9M | ||
| Q3 24 | $-17.5M | $54.2M | ||
| Q2 24 | $-10.8M | $61.4M | ||
| Q1 24 | $-44.6M | — |
毛利率MRCYRBC
| Q4 25 | 26.0% | 44.3% | ||
| Q3 25 | 27.9% | 44.1% | ||
| Q2 25 | 31.0% | 44.8% | ||
| Q1 25 | 27.0% | 44.2% | ||
| Q4 24 | 27.3% | 44.3% | ||
| Q3 24 | 25.3% | 43.7% | ||
| Q2 24 | 29.5% | 45.3% | ||
| Q1 24 | 19.5% | 43.1% |
营业利润率MRCYRBC
| Q4 25 | -4.6% | 22.3% | ||
| Q3 25 | -3.8% | 21.5% | ||
| Q2 25 | 8.6% | 23.2% | ||
| Q1 25 | -8.2% | 23.0% | ||
| Q4 24 | -5.6% | 21.7% | ||
| Q3 24 | -6.6% | 21.6% | ||
| Q2 24 | -3.2% | 24.0% | ||
| Q1 24 | -21.9% | 22.8% |
净利率MRCYRBC
| Q4 25 | -6.5% | 14.6% | ||
| Q3 25 | -5.6% | 13.2% | ||
| Q2 25 | 6.0% | 15.7% | ||
| Q1 25 | -9.1% | 16.6% | ||
| Q4 24 | -7.9% | 14.7% | ||
| Q3 24 | -8.6% | 13.6% | ||
| Q2 24 | -4.3% | 15.1% | ||
| Q1 24 | -21.4% | — |
每股收益（稀释后）MRCYRBC
| Q4 25 | $-0.26 | $2.13 | ||
| Q3 25 | $-0.21 | $1.90 | ||
| Q2 25 | $0.28 | $2.17 | ||
| Q1 25 | $-0.33 | $2.33 | ||
| Q4 24 | $-0.30 | $1.82 | ||
| Q3 24 | $-0.30 | $1.65 | ||
| Q2 24 | $-0.18 | $1.90 | ||
| Q1 24 | $-0.77 | $1.92 |
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 | $335.0M | $107.6M |
| 总债务越低越好 | — | $990.2M |
| 股东权益账面价值 | $1.5B | $3.3B |
| 总资产 | $2.5B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资MRCYRBC
| Q4 25 | $335.0M | $107.6M | ||
| Q3 25 | $304.7M | $91.2M | ||
| Q2 25 | $309.1M | $132.9M | ||
| Q1 25 | $269.8M | $36.8M | ||
| Q4 24 | $242.6M | — | ||
| Q3 24 | $158.1M | — | ||
| Q2 24 | $180.5M | $76.8M | ||
| Q1 24 | $142.6M | $63.5M |
总债务MRCYRBC
| Q4 25 | — | $990.2M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $915.6M | ||
| Q1 25 | — | $920.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.2B |
股东权益MRCYRBC
| Q4 25 | $1.5B | $3.3B | ||
| Q3 25 | $1.5B | $3.2B | ||
| Q2 25 | $1.5B | $3.1B | ||
| Q1 25 | $1.5B | $3.0B | ||
| Q4 24 | $1.5B | $2.9B | ||
| Q3 24 | $1.5B | $2.9B | ||
| Q2 24 | $1.5B | $2.8B | ||
| Q1 24 | $1.5B | $2.8B |
总资产MRCYRBC
| Q4 25 | $2.5B | $5.1B | ||
| Q3 25 | $2.5B | $5.1B | ||
| Q2 25 | $2.4B | $4.8B | ||
| Q1 25 | $2.4B | $4.7B | ||
| Q4 24 | $2.4B | $4.7B | ||
| Q3 24 | $2.4B | $4.7B | ||
| Q2 24 | $2.4B | $4.7B | ||
| Q1 24 | $2.4B | $4.7B |
负债/权益比MRCYRBC
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.43× |
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 | $51.6M | $122.1M |
| 自由现金流经营现金流 - 资本支出 | $45.7M | $99.1M |
| 自由现金流率自由现金流/营收 | 19.6% | 21.5% |
| 资本支出强度资本支出/营收 | 2.5% | 5.0% |
| 现金转化率经营现金流/净利润 | — | 1.81× |
| 过去12个月自由现金流最近4个季度 | $99.4M | — |
8季度趋势，按日历期对齐
经营现金流MRCYRBC
| Q4 25 | $51.6M | $122.1M | ||
| Q3 25 | $2.2M | $88.4M | ||
| Q2 25 | $38.1M | $120.0M | ||
| Q1 25 | $30.0M | — | ||
| Q4 24 | $85.5M | $84.0M | ||
| Q3 24 | $-14.7M | — | ||
| Q2 24 | $71.8M | $97.4M | ||
| Q1 24 | $-17.8M | — |
自由现金流MRCYRBC
| Q4 25 | $45.7M | $99.1M | ||
| Q3 25 | $-4.4M | $71.7M | ||
| Q2 25 | $34.0M | $104.3M | ||
| Q1 25 | $24.1M | — | ||
| Q4 24 | $81.9M | $73.6M | ||
| Q3 24 | $-20.9M | — | ||
| Q2 24 | $61.4M | $88.4M | ||
| Q1 24 | $-25.7M | — |
自由现金流率MRCYRBC
| Q4 25 | 19.6% | 21.5% | ||
| Q3 25 | -1.9% | 15.7% | ||
| Q2 25 | 12.4% | 23.9% | ||
| Q1 25 | 11.4% | — | ||
| Q4 24 | 36.7% | 18.7% | ||
| Q3 24 | -10.2% | — | ||
| Q2 24 | 24.7% | 21.8% | ||
| Q1 24 | -12.4% | — |
资本支出强度MRCYRBC
| Q4 25 | 2.5% | 5.0% | ||
| Q3 25 | 2.9% | 3.7% | ||
| Q2 25 | 1.5% | 3.6% | ||
| Q1 25 | 2.8% | 3.2% | ||
| Q4 24 | 1.6% | 2.6% | ||
| Q3 24 | 3.1% | 4.1% | ||
| Q2 24 | 4.2% | 2.2% | ||
| Q1 24 | 3.8% | — |
现金转化率MRCYRBC
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.47× | ||
| Q2 25 | 2.33× | 1.75× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.59× | ||
| Q1 24 | — | — |
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
MRCY
| Airborne | $84.2M | 36% |
| Components | $48.7M | 21% |
| Other End Applications | $36.8M | 16% |
| Electronic Warfare | $27.5M | 12% |
| Other Sensor And Effector Applications | $23.9M | 10% |
| Space | $11.9M | 5% |
RBC
| Domestic | $413.3M | 90% |
| Foreign | $48.3M | 10% |
