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MACOM Technology Solutions Holdings, Inc.（MTSI）与通用动力（PLOW）财务数据对比。点击上方公司名可切换其他公司
MACOM Technology Solutions Holdings, Inc.的季度营收约是通用动力的1.5倍（$271.6M vs $184.5M），MACOM Technology Solutions Holdings, Inc.净利率更高（18.0% vs 7.0%，领先11.0%），通用动力同比增速更快（28.6% vs 24.5%），通用动力自由现金流更多（$92.8M vs $30.0M），过去两年通用动力的营收复合增速更高（38.9% vs 22.4%）
MACOM是美国知名的射频、微波及毫米波半导体器件与组件研发生产商，总部位于马萨诸塞州洛厄尔，2005年曾是当地规模最大的私营雇主。公司已通过ISO9001国际质量体系认证及ISO14001环境管理体系认证，在北美、欧洲、亚洲及澳大利亚均设有设计中心与销售办事处。
通用动力公司是总部位于美国弗吉尼亚州雷斯顿的工业与科技企业，核心业务是研发制造各类先进军用装备，产品包括核潜艇、主战坦克、装甲战车等，同时也生产民用湾流公务机，并提供信息技术服务，是美国联邦政府前五大国防承包商之一。
MTSI vs PLOW — 直观对比
营收规模更大
MTSI
是对方的1.5倍
$184.5M
营收增速更快
PLOW
高出4.0%
24.5%
净利率更高
MTSI
高出11.0%
7.0%
自由现金流更多
PLOW
多$62.9M
$30.0M
两年增速更快
PLOW
近两年复合增速
22.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $271.6M | $184.5M |
| 净利润 | $48.8M | $12.8M |
| 毛利率 | 55.9% | 26.1% |
| 营业利润率 | 15.9% | 10.5% |
| 净利率 | 18.0% | 7.0% |
| 营收同比 | 24.5% | 28.6% |
| 净利润同比 | 129.1% | 62.3% |
| 每股收益（稀释后） | $0.64 | $0.54 |
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MTSIPLOW
| Q1 26 | $271.6M | — | ||
| Q4 25 | $261.2M | $184.5M | ||
| Q3 25 | $252.1M | $162.1M | ||
| Q2 25 | $235.9M | $194.3M | ||
| Q1 25 | $218.1M | $115.1M | ||
| Q4 24 | — | $143.5M | ||
| Q3 24 | $200.7M | $129.4M | ||
| Q2 24 | $190.5M | $199.9M |
净利润MTSIPLOW
| Q1 26 | $48.8M | — | ||
| Q4 25 | $45.1M | $12.8M | ||
| Q3 25 | $36.5M | $8.0M | ||
| Q2 25 | $31.7M | $26.0M | ||
| Q1 25 | $-167.5M | $148.0K | ||
| Q4 24 | — | $7.9M | ||
| Q3 24 | $29.4M | $32.3M | ||
| Q2 24 | $19.9M | $24.3M |
毛利率MTSIPLOW
| Q1 26 | 55.9% | — | ||
| Q4 25 | 54.5% | 26.1% | ||
| Q3 25 | 55.3% | 23.5% | ||
| Q2 25 | 55.2% | 31.0% | ||
| Q1 25 | 53.7% | 24.5% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | 54.7% | 23.9% | ||
| Q2 24 | 53.2% | 30.7% |
营业利润率MTSIPLOW
| Q1 26 | 15.9% | — | ||
| Q4 25 | 15.2% | 10.5% | ||
| Q3 25 | 14.9% | 8.7% | ||
| Q2 25 | 14.8% | 19.0% | ||
| Q1 25 | 8.0% | 2.8% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | 13.7% | 35.4% | ||
| Q2 24 | 10.4% | 18.2% |
净利率MTSIPLOW
| Q1 26 | 18.0% | — | ||
| Q4 25 | 17.3% | 7.0% | ||
| Q3 25 | 14.5% | 4.9% | ||
| Q2 25 | 13.4% | 13.4% | ||
| Q1 25 | -76.8% | 0.1% | ||
| Q4 24 | — | 5.5% | ||
| Q3 24 | 14.7% | 24.9% | ||
| Q2 24 | 10.5% | 12.2% |
每股收益（稀释后）MTSIPLOW
| Q1 26 | $0.64 | — | ||
| Q4 25 | $0.67 | $0.54 | ||
| Q3 25 | $0.48 | $0.33 | ||
| Q2 25 | $0.42 | $1.09 | ||
| Q1 25 | $-2.30 | $0.00 | ||
| Q4 24 | — | $0.35 | ||
| Q3 24 | $0.40 | $1.36 | ||
| Q2 24 | $0.27 | $1.02 |
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 | $768.5M | — |
| 总债务越低越好 | — | $144.0M |
| 股东权益账面价值 | $1.4B | $281.4M |
| 总资产 | $2.1B | $626.7M |
| 负债/权益比越低杠杆越低 | — | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资MTSIPLOW
| Q1 26 | $768.5M | — | ||
| Q4 25 | $786.0M | — | ||
| Q3 25 | $735.2M | — | ||
| Q2 25 | $681.5M | — | ||
| Q1 25 | $656.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $581.9M | — | ||
| Q2 24 | $521.5M | — |
总债务MTSIPLOW
| Q1 26 | — | — | ||
| Q4 25 | — | $144.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $147.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益MTSIPLOW
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.3B | $281.4M | ||
| Q3 25 | $1.3B | $275.3M | ||
| Q2 25 | $1.2B | $273.3M | ||
| Q1 25 | $1.2B | $258.9M | ||
| Q4 24 | — | $264.2M | ||
| Q3 24 | $1.1B | $260.8M | ||
| Q2 24 | $1.1B | $236.7M |
总资产MTSIPLOW
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.1B | $626.7M | ||
| Q3 25 | $2.0B | $694.9M | ||
| Q2 25 | $1.9B | $671.5M | ||
| Q1 25 | $1.8B | $621.0M | ||
| Q4 24 | — | $590.0M | ||
| Q3 24 | $1.8B | $665.6M | ||
| Q2 24 | $1.7B | $617.0M |
负债/权益比MTSIPLOW
| Q1 26 | — | — | ||
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.56× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $42.9M | $95.9M |
| 自由现金流经营现金流 - 资本支出 | $30.0M | $92.8M |
| 自由现金流率自由现金流/营收 | 11.0% | 50.3% |
| 资本支出强度资本支出/营收 | 4.8% | 1.7% |
| 现金转化率经营现金流/净利润 | 0.88× | 7.47× |
| 过去12个月自由现金流最近4个季度 | $161.5M | $63.6M |
8季度趋势，按日历期对齐
经营现金流MTSIPLOW
| Q1 26 | $42.9M | — | ||
| Q4 25 | $69.6M | $95.9M | ||
| Q3 25 | $60.4M | $-8.5M | ||
| Q2 25 | $38.7M | $-11.4M | ||
| Q1 25 | $66.7M | $-1.3M | ||
| Q4 24 | — | $74.4M | ||
| Q3 24 | $62.3M | $-14.2M | ||
| Q2 24 | $49.0M | $2.5M |
自由现金流MTSIPLOW
| Q1 26 | $30.0M | — | ||
| Q4 25 | $49.4M | $92.8M | ||
| Q3 25 | $51.6M | $-11.4M | ||
| Q2 25 | $30.5M | $-14.3M | ||
| Q1 25 | $61.3M | $-3.5M | ||
| Q4 24 | — | $70.2M | ||
| Q3 24 | $57.1M | $-15.2M | ||
| Q2 24 | $41.5M | $836.0K |
自由现金流率MTSIPLOW
| Q1 26 | 11.0% | — | ||
| Q4 25 | 18.9% | 50.3% | ||
| Q3 25 | 20.5% | -7.1% | ||
| Q2 25 | 12.9% | -7.4% | ||
| Q1 25 | 28.1% | -3.0% | ||
| Q4 24 | — | 48.9% | ||
| Q3 24 | 28.5% | -11.8% | ||
| Q2 24 | 21.8% | 0.4% |
资本支出强度MTSIPLOW
| Q1 26 | 4.8% | — | ||
| Q4 25 | 7.7% | 1.7% | ||
| Q3 25 | 3.5% | 1.8% | ||
| Q2 25 | 3.5% | 1.5% | ||
| Q1 25 | 2.4% | 1.9% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | 2.6% | 0.8% | ||
| Q2 24 | 3.9% | 0.8% |
现金转化率MTSIPLOW
| Q1 26 | 0.88× | — | ||
| Q4 25 | 1.54× | 7.47× | ||
| Q3 25 | 1.65× | -1.07× | ||
| Q2 25 | 1.22× | -0.44× | ||
| Q1 25 | — | -9.03× | ||
| Q4 24 | — | 9.41× | ||
| Q3 24 | 2.12× | -0.44× | ||
| Q2 24 | 2.46× | 0.10× |
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
MTSI
| Industrial Defense | $117.7M | 43% |
| Data Center | $85.8M | 32% |
| Telecom | $68.1M | 25% |
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
