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梅特勒-托利多（MTD）与特诺控股（TROX）财务数据对比。点击上方公司名可切换其他公司
梅特勒-托利多的季度营收约是特诺控股的1.5倍（$1.1B vs $730.0M），梅特勒-托利多净利率更高（25.3% vs -24.1%，领先49.4%），梅特勒-托利多同比增速更快（8.1% vs 8.0%），梅特勒-托利多自由现金流更多（$184.1M vs $53.0M），过去两年梅特勒-托利多的营收复合增速更高（10.5% vs -2.9%）
梅特勒-托利多是全球知名的精密仪器及服务跨国供应商，业务覆盖实验室、工业生产、产品检测、食品零售等应用场景，旗下产品广泛应用于生命科学、食品、化工等众多行业的科研、质量管控及生产制造环节。
特诺控股是一家业务遍及全球的美国化工企业，专注于钛制品领域，现有员工约6500名。在收购南非埃萨罗资源原有的矿砂业务后，特诺已成为全球规模最大的全产业链二氧化钛颜料供应商。二氧化钛颜料主要为涂料、塑料、纸张等产品增白增亮，特诺还拥有钛矿砂开采及加工业务。
MTD vs TROX — 直观对比
营收规模更大
MTD
是对方的1.5倍
$730.0M
营收增速更快
MTD
高出0.1%
8.0%
净利率更高
MTD
高出49.4%
-24.1%
自由现金流更多
MTD
多$131.1M
$53.0M
两年增速更快
MTD
近两年复合增速
-2.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $730.0M |
| 净利润 | $285.8M | $-176.0M |
| 毛利率 | 59.8% | 5.3% |
| 营业利润率 | 29.1% | -15.6% |
| 净利率 | 25.3% | -24.1% |
| 营收同比 | 8.1% | 8.0% |
| 净利润同比 | 13.3% | -486.7% |
| 每股收益（稀释后） | $13.91 | $-1.11 |
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MTDTROX
| Q4 25 | $1.1B | $730.0M | ||
| Q3 25 | $1.0B | $699.0M | ||
| Q2 25 | $983.2M | $731.0M | ||
| Q1 25 | $883.7M | $738.0M | ||
| Q4 24 | $1.0B | $676.0M | ||
| Q3 24 | $954.5M | $804.0M | ||
| Q2 24 | $946.8M | $820.0M | ||
| Q1 24 | $925.9M | $774.0M |
净利润MTDTROX
| Q4 25 | $285.8M | $-176.0M | ||
| Q3 25 | $217.5M | $-99.0M | ||
| Q2 25 | $202.3M | $-84.0M | ||
| Q1 25 | $163.6M | $-111.0M | ||
| Q4 24 | $252.3M | $-30.0M | ||
| Q3 24 | $211.5M | $-25.0M | ||
| Q2 24 | $221.8M | $16.0M | ||
| Q1 24 | $177.5M | $-9.0M |
毛利率MTDTROX
| Q4 25 | 59.8% | 5.3% | ||
| Q3 25 | 59.2% | 7.4% | ||
| Q2 25 | 59.0% | 10.8% | ||
| Q1 25 | 59.5% | 13.4% | ||
| Q4 24 | 61.2% | 17.3% | ||
| Q3 24 | 60.0% | 15.9% | ||
| Q2 24 | 59.7% | 18.3% | ||
| Q1 24 | 59.2% | 15.5% |
营业利润率MTDTROX
| Q4 25 | 29.1% | -15.6% | ||
| Q3 25 | 26.1% | -6.2% | ||
| Q2 25 | 25.3% | -4.8% | ||
| Q1 25 | 22.9% | -8.3% | ||
| Q4 24 | 30.1% | 7.1% | ||
| Q3 24 | 27.1% | 6.7% | ||
| Q2 24 | 25.7% | 9.3% | ||
| Q1 24 | 23.8% | 5.3% |
净利率MTDTROX
| Q4 25 | 25.3% | -24.1% | ||
| Q3 25 | 21.1% | -14.2% | ||
| Q2 25 | 20.6% | -11.5% | ||
| Q1 25 | 18.5% | -15.0% | ||
| Q4 24 | 24.1% | -4.4% | ||
| Q3 24 | 22.2% | -3.1% | ||
| Q2 24 | 23.4% | 2.0% | ||
| Q1 24 | 19.2% | -1.2% |
每股收益（稀释后）MTDTROX
| Q4 25 | $13.91 | $-1.11 | ||
| Q3 25 | $10.57 | $-0.63 | ||
| Q2 25 | $9.76 | $-0.53 | ||
| Q1 25 | $7.81 | $-0.70 | ||
| Q4 24 | $11.91 | $-0.19 | ||
| Q3 24 | $9.96 | $-0.16 | ||
| Q2 24 | $10.37 | $0.10 | ||
| Q1 24 | $8.24 | $-0.06 |
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 | — | $199.0M |
| 总债务越低越好 | $2.1B | $3.1B |
| 股东权益账面价值 | $-23.6M | $1.4B |
| 总资产 | $3.7B | $6.2B |
| 负债/权益比越低杠杆越低 | — | 2.21× |
8季度趋势，按日历期对齐
现金及短期投资MTDTROX
| Q4 25 | — | $199.0M | ||
| Q3 25 | $69.1M | $185.0M | ||
| Q2 25 | $61.8M | $132.0M | ||
| Q1 25 | — | $138.0M | ||
| Q4 24 | $59.4M | $151.0M | ||
| Q3 24 | $71.6M | $167.0M | ||
| Q2 24 | $70.8M | $201.0M | ||
| Q1 24 | — | $152.0M |
总债务MTDTROX
| Q4 25 | $2.1B | $3.1B | ||
| Q3 25 | $2.1B | $3.1B | ||
| Q2 25 | $2.1B | $2.7B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $1.8B | $2.8B | ||
| Q3 24 | $1.9B | $2.8B | ||
| Q2 24 | $1.7B | $2.8B | ||
| Q1 24 | — | $2.8B |
股东权益MTDTROX
| Q4 25 | $-23.6M | $1.4B | ||
| Q3 25 | $-249.2M | $1.6B | ||
| Q2 25 | $-258.8M | $1.6B | ||
| Q1 25 | $-182.0M | $1.7B | ||
| Q4 24 | $-126.9M | $1.8B | ||
| Q3 24 | $-154.4M | $1.9B | ||
| Q2 24 | $-152.8M | $1.9B | ||
| Q1 24 | $-158.7M | $1.9B |
总资产MTDTROX
| Q4 25 | $3.7B | $6.2B | ||
| Q3 25 | $3.5B | $6.3B | ||
| Q2 25 | $3.4B | $6.2B | ||
| Q1 25 | $3.2B | $6.1B | ||
| Q4 24 | $3.2B | $6.0B | ||
| Q3 24 | $3.3B | $6.2B | ||
| Q2 24 | $3.2B | $6.1B | ||
| Q1 24 | $3.3B | $6.0B |
负债/权益比MTDTROX
| Q4 25 | — | 2.21× | ||
| Q3 25 | — | 2.01× | ||
| Q2 25 | — | 1.67× | ||
| Q1 25 | — | 1.64× | ||
| Q4 24 | — | 1.57× | ||
| Q3 24 | — | 1.45× | ||
| Q2 24 | — | 1.47× | ||
| Q1 24 | — | 1.48× |
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 | $225.6M | $121.0M |
| 自由现金流经营现金流 - 资本支出 | $184.1M | $53.0M |
| 自由现金流率自由现金流/营收 | 16.3% | 7.3% |
| 资本支出强度资本支出/营收 | 3.7% | 9.3% |
| 现金转化率经营现金流/净利润 | 0.79× | — |
| 过去12个月自由现金流最近4个季度 | $848.6M | $-281.0M |
8季度趋势，按日历期对齐
经营现金流MTDTROX
| Q4 25 | $225.6M | $121.0M | ||
| Q3 25 | $299.4M | $-57.0M | ||
| Q2 25 | $236.4M | $28.0M | ||
| Q1 25 | $194.4M | $-32.0M | ||
| Q4 24 | $266.2M | $82.0M | ||
| Q3 24 | $254.7M | $87.0M | ||
| Q2 24 | $257.5M | $160.0M | ||
| Q1 24 | $190.0M | $-29.0M |
自由现金流MTDTROX
| Q4 25 | $184.1M | $53.0M | ||
| Q3 25 | $274.9M | $-137.0M | ||
| Q2 25 | $212.5M | $-55.0M | ||
| Q1 25 | $177.2M | $-142.0M | ||
| Q4 24 | $224.9M | $-35.0M | ||
| Q3 24 | $233.2M | $-14.0M | ||
| Q2 24 | $233.7M | $84.0M | ||
| Q1 24 | $172.6M | $-105.0M |
自由现金流率MTDTROX
| Q4 25 | 16.3% | 7.3% | ||
| Q3 25 | 26.7% | -19.6% | ||
| Q2 25 | 21.6% | -7.5% | ||
| Q1 25 | 20.1% | -19.2% | ||
| Q4 24 | 21.5% | -5.2% | ||
| Q3 24 | 24.4% | -1.7% | ||
| Q2 24 | 24.7% | 10.2% | ||
| Q1 24 | 18.6% | -13.6% |
资本支出强度MTDTROX
| Q4 25 | 3.7% | 9.3% | ||
| Q3 25 | 2.4% | 11.4% | ||
| Q2 25 | 2.4% | 11.4% | ||
| Q1 25 | 2.0% | 14.9% | ||
| Q4 24 | 3.9% | 17.3% | ||
| Q3 24 | 2.2% | 12.6% | ||
| Q2 24 | 2.5% | 9.3% | ||
| Q1 24 | 1.9% | 9.8% |
现金转化率MTDTROX
| Q4 25 | 0.79× | — | ||
| Q3 25 | 1.38× | — | ||
| Q2 25 | 1.17× | — | ||
| Q1 25 | 1.19× | — | ||
| Q4 24 | 1.06× | — | ||
| Q3 24 | 1.20× | — | ||
| Q2 24 | 1.16× | 10.00× | ||
| Q1 24 | 1.07× | — |
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
MTD
| Products | $857.0M | 76% |
| Services | $272.8M | 24% |
TROX
| Ti O2 | $577.0M | 79% |
| Zircon | $78.0M | 11% |
| Idle Facility And Lower Of Cost Or Net Realizable Value Charges | $42.0M | 6% |
| Other | $20.0M | 3% |
| MGT | $13.0M | 2% |
