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M&T Bank（MTB）与Primoris Services Corp（PRIM）财务数据对比。点击上方公司名可切换其他公司
M&T Bank的季度营收约是Primoris Services Corp的1.3倍（$2.5B vs $1.9B），M&T Bank净利率更高（30.7% vs 2.8%，领先27.9%），Primoris Services Corp同比增速更快（6.7% vs 3.8%），过去两年Primoris Services Corp的营收复合增速更高（14.7% vs 4.6%）
M&T银行是总部位于美国纽约州布法罗的银行控股企业，业务覆盖美国东部从缅因州到弗吉尼亚州的12个州及华盛顿特区，运营超过950家线下网点。其控股主体1998年5月前名为第一帝国州公司，之后更为现名。
Primoris Services Corp是总部位于美国的上市专业基建与工程建设企业，核心业务覆盖天然气管道、污水管网及供水管道建设领域，2014年入选《财富》1000强榜单，在北美能源及民生基建领域拥有丰富的项目运营经验。
MTB vs PRIM — 直观对比
营收规模更大
MTB
是对方的1.3倍
$1.9B
营收增速更快
PRIM
高出2.9%
3.8%
净利率更高
MTB
高出27.9%
2.8%
两年增速更快
PRIM
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $1.9B |
| 净利润 | $759.0M | $51.7M |
| 毛利率 | — | 9.4% |
| 营业利润率 | 39.2% | 4.2% |
| 净利率 | 30.7% | 2.8% |
| 营收同比 | 3.8% | 6.7% |
| 净利润同比 | 11.5% | -4.2% |
| 每股收益（稀释后） | $4.62 | $0.94 |
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MTBPRIM
| Q4 25 | $2.5B | $1.9B | ||
| Q3 25 | $2.5B | $2.2B | ||
| Q2 25 | $2.4B | $1.9B | ||
| Q1 25 | $2.3B | $1.6B | ||
| Q4 24 | $2.4B | $1.7B | ||
| Q3 24 | $2.3B | $1.6B | ||
| Q2 24 | $2.3B | $1.6B | ||
| Q1 24 | $2.3B | $1.4B |
净利润MTBPRIM
| Q4 25 | $759.0M | $51.7M | ||
| Q3 25 | $792.0M | $94.6M | ||
| Q2 25 | $716.0M | $84.3M | ||
| Q1 25 | $584.0M | $44.2M | ||
| Q4 24 | $681.0M | $54.0M | ||
| Q3 24 | $721.0M | $58.4M | ||
| Q2 24 | $655.0M | $49.5M | ||
| Q1 24 | $531.0M | $18.9M |
毛利率MTBPRIM
| Q4 25 | — | 9.4% | ||
| Q3 25 | — | 10.8% | ||
| Q2 25 | — | 12.3% | ||
| Q1 25 | — | 10.4% | ||
| Q4 24 | — | 10.6% | ||
| Q3 24 | — | 12.0% | ||
| Q2 24 | — | 11.9% | ||
| Q1 24 | — | 9.4% |
营业利润率MTBPRIM
| Q4 25 | 39.2% | 4.2% | ||
| Q3 25 | 40.8% | 6.3% | ||
| Q2 25 | 39.0% | 6.7% | ||
| Q1 25 | 33.0% | 4.3% | ||
| Q4 24 | 37.0% | 5.0% | ||
| Q3 24 | 39.0% | 6.0% | ||
| Q2 24 | 37.1% | 5.5% | ||
| Q1 24 | 29.4% | 3.1% |
净利率MTBPRIM
| Q4 25 | 30.7% | 2.8% | ||
| Q3 25 | 31.5% | 4.3% | ||
| Q2 25 | 29.9% | 4.5% | ||
| Q1 25 | 25.3% | 2.7% | ||
| Q4 24 | 28.6% | 3.1% | ||
| Q3 24 | 30.9% | 3.5% | ||
| Q2 24 | 28.5% | 3.2% | ||
| Q1 24 | 23.5% | 1.3% |
每股收益（稀释后）MTBPRIM
| Q4 25 | $4.62 | $0.94 | ||
| Q3 25 | $4.82 | $1.73 | ||
| Q2 25 | $4.24 | $1.54 | ||
| Q1 25 | $3.32 | $0.81 | ||
| Q4 24 | $3.87 | $0.98 | ||
| Q3 24 | $4.02 | $1.07 | ||
| Q2 24 | $3.73 | $0.91 | ||
| Q1 24 | $3.02 | $0.35 |
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 | — | $535.5M |
| 总债务越低越好 | $10.9B | $469.9M |
| 股东权益账面价值 | $29.2B | $1.7B |
| 总资产 | $213.5B | $4.4B |
| 负债/权益比越低杠杆越低 | 0.37× | 0.28× |
8季度趋势，按日历期对齐
现金及短期投资MTBPRIM
| Q4 25 | — | $535.5M | ||
| Q3 25 | — | $431.4M | ||
| Q2 25 | — | $390.3M | ||
| Q1 25 | — | $351.6M | ||
| Q4 24 | — | $455.8M | ||
| Q3 24 | — | $352.7M | ||
| Q2 24 | — | $207.4M | ||
| Q1 24 | — | $177.6M |
总债务MTBPRIM
| Q4 25 | $10.9B | $469.9M | ||
| Q3 25 | $12.9B | $486.0M | ||
| Q2 25 | $12.4B | $603.1M | ||
| Q1 25 | $10.5B | $612.0M | ||
| Q4 24 | $12.6B | $734.8M | ||
| Q3 24 | $11.6B | $903.7M | ||
| Q2 24 | $11.3B | $933.0M | ||
| Q1 24 | $11.4B | $951.7M |
股东权益MTBPRIM
| Q4 25 | $29.2B | $1.7B | ||
| Q3 25 | $28.7B | $1.6B | ||
| Q2 25 | $28.5B | $1.5B | ||
| Q1 25 | $29.0B | $1.4B | ||
| Q4 24 | $29.0B | $1.4B | ||
| Q3 24 | $28.9B | $1.4B | ||
| Q2 24 | $28.4B | $1.3B | ||
| Q1 24 | $27.2B | $1.2B |
总资产MTBPRIM
| Q4 25 | $213.5B | $4.4B | ||
| Q3 25 | $211.3B | $4.6B | ||
| Q2 25 | $211.6B | $4.5B | ||
| Q1 25 | $210.3B | $4.2B | ||
| Q4 24 | $208.1B | $4.2B | ||
| Q3 24 | $211.8B | $4.2B | ||
| Q2 24 | $208.9B | $4.0B | ||
| Q1 24 | $215.1B | $4.0B |
负债/权益比MTBPRIM
| Q4 25 | 0.37× | 0.28× | ||
| Q3 25 | 0.45× | 0.30× | ||
| Q2 25 | 0.43× | 0.39× | ||
| Q1 25 | 0.36× | 0.42× | ||
| Q4 24 | 0.43× | 0.52× | ||
| Q3 24 | 0.40× | 0.67× | ||
| Q2 24 | 0.40× | 0.72× | ||
| Q1 24 | 0.42× | 0.76× |
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 | $3.0B | $142.9M |
| 自由现金流经营现金流 - 资本支出 | — | $121.1M |
| 自由现金流率自由现金流/营收 | — | 6.5% |
| 资本支出强度资本支出/营收 | — | 1.2% |
| 现金转化率经营现金流/净利润 | 3.96× | 2.76× |
| 过去12个月自由现金流最近4个季度 | — | $340.5M |
8季度趋势，按日历期对齐
经营现金流MTBPRIM
| Q4 25 | $3.0B | $142.9M | ||
| Q3 25 | $1.0B | $182.9M | ||
| Q2 25 | $844.0M | $78.5M | ||
| Q1 25 | $635.0M | $66.2M | ||
| Q4 24 | $3.6B | $298.3M | ||
| Q3 24 | $-28.0M | $222.5M | ||
| Q2 24 | $1.4B | $16.1M | ||
| Q1 24 | $608.0M | $-28.5M |
自由现金流MTBPRIM
| Q4 25 | — | $121.1M | ||
| Q3 25 | — | $148.4M | ||
| Q2 25 | — | $45.3M | ||
| Q1 25 | — | $25.6M | ||
| Q4 24 | — | $270.0M | ||
| Q3 24 | — | $158.8M | ||
| Q2 24 | — | $-8.1M | ||
| Q1 24 | — | $-38.9M |
自由现金流率MTBPRIM
| Q4 25 | — | 6.5% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | 15.5% | ||
| Q3 24 | — | 9.6% | ||
| Q2 24 | — | -0.5% | ||
| Q1 24 | — | -2.8% |
资本支出强度MTBPRIM
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 3.9% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 0.7% |
现金转化率MTBPRIM
| Q4 25 | 3.96× | 2.76× | ||
| Q3 25 | 1.26× | 1.93× | ||
| Q2 25 | 1.18× | 0.93× | ||
| Q1 25 | 1.09× | 1.50× | ||
| Q4 24 | 5.30× | 5.53× | ||
| Q3 24 | -0.04× | 3.81× | ||
| Q2 24 | 2.07× | 0.32× | ||
| Q1 24 | 1.15× | -1.50× |
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
MTB
暂无分部数据
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
