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MACOM Technology Solutions Holdings, Inc.（MTSI）与Gentherm Inc（THRM）财务数据对比。点击上方公司名可切换其他公司
Gentherm Inc的季度营收约是MACOM Technology Solutions Holdings, Inc.的1.4倍（$382.8M vs $271.6M），MACOM Technology Solutions Holdings, Inc.净利率更高（18.0% vs 0.8%，领先17.2%），MACOM Technology Solutions Holdings, Inc.同比增速更快（24.5% vs 8.5%），MACOM Technology Solutions Holdings, Inc.自由现金流更多（$30.0M vs $6.7M），过去两年MACOM Technology Solutions Holdings, Inc.的营收复合增速更高（22.4% vs 3.7%）
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。
金瑟公司（原阿梅里贡）是一家美国热管理技术企业，为汽车行业研发出了全球首款热电调温座椅系统——气候控制座椅系统。该系统于1999年率先被福特汽车采纳，作为选装配置搭载在2000款林肯领航员上，如今已应用于福特、通用、丰田（雷克萨斯）、起亚、现代、日产（英菲尼迪）等车企的50余款车型。
MTSI vs THRM — 直观对比
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $271.6M | $382.8M |
| 净利润 | $48.8M | $3.0M |
| 毛利率 | 55.9% | 23.7% |
| 营业利润率 | 15.9% | 4.6% |
| 净利率 | 18.0% | 0.8% |
| 营收同比 | 24.5% | 8.5% |
| 净利润同比 | 129.1% | -80.5% |
| 每股收益（稀释后） | $0.64 | $0.08 |
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
| Q1 26 | $271.6M | — | ||
| Q4 25 | $261.2M | $382.8M | ||
| Q3 25 | $252.1M | $386.9M | ||
| Q2 25 | $235.9M | $375.1M | ||
| Q1 25 | $218.1M | $353.9M | ||
| Q4 24 | — | $352.9M | ||
| Q3 24 | $200.7M | $371.5M | ||
| Q2 24 | $190.5M | $375.7M |
| Q1 26 | $48.8M | — | ||
| Q4 25 | $45.1M | $3.0M | ||
| Q3 25 | $36.5M | $14.9M | ||
| Q2 25 | $31.7M | $477.0K | ||
| Q1 25 | $-167.5M | $-128.0K | ||
| Q4 24 | — | $15.3M | ||
| Q3 24 | $29.4M | $16.0M | ||
| Q2 24 | $19.9M | $18.9M |
| Q1 26 | 55.9% | — | ||
| Q4 25 | 54.5% | 23.7% | ||
| Q3 25 | 55.3% | 24.6% | ||
| Q2 25 | 55.2% | 23.9% | ||
| Q1 25 | 53.7% | 24.4% | ||
| Q4 24 | — | 24.4% | ||
| Q3 24 | 54.7% | 25.5% | ||
| Q2 24 | 53.2% | 25.7% |
| Q1 26 | 15.9% | — | ||
| Q4 25 | 15.2% | 4.6% | ||
| Q3 25 | 14.9% | 6.2% | ||
| Q2 25 | 14.8% | 6.4% | ||
| Q1 25 | 8.0% | 4.8% | ||
| Q4 24 | — | 6.7% | ||
| Q3 24 | 13.7% | 8.7% | ||
| Q2 24 | 10.4% | 8.8% |
| Q1 26 | 18.0% | — | ||
| Q4 25 | 17.3% | 0.8% | ||
| Q3 25 | 14.5% | 3.9% | ||
| Q2 25 | 13.4% | 0.1% | ||
| Q1 25 | -76.8% | -0.0% | ||
| Q4 24 | — | 4.3% | ||
| Q3 24 | 14.7% | 4.3% | ||
| Q2 24 | 10.5% | 5.0% |
| Q1 26 | $0.64 | — | ||
| Q4 25 | $0.67 | $0.08 | ||
| Q3 25 | $0.48 | $0.49 | ||
| Q2 25 | $0.42 | $0.02 | ||
| Q1 25 | $-2.30 | $0.00 | ||
| Q4 24 | — | $0.48 | ||
| Q3 24 | $0.40 | $0.51 | ||
| Q2 24 | $0.27 | $0.60 |
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 | $160.8M |
| 总债务越低越好 | — | $189.0M |
| 股东权益账面价值 | $1.4B | $720.3M |
| 总资产 | $2.1B | $1.4B |
| 负债/权益比越低杠杆越低 | — | 0.26× |
8季度趋势，按日历期对齐
| Q1 26 | $768.5M | — | ||
| Q4 25 | $786.0M | $160.8M | ||
| Q3 25 | $735.2M | $154.3M | ||
| Q2 25 | $681.5M | $128.3M | ||
| Q1 25 | $656.5M | $163.1M | ||
| Q4 24 | — | $134.1M | ||
| Q3 24 | $581.9M | $150.6M | ||
| Q2 24 | $521.5M | $123.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $189.0M | ||
| Q3 25 | — | $189.0M | ||
| Q2 25 | — | $209.0M | ||
| Q1 25 | — | $262.0M | ||
| Q4 24 | — | $220.1M | ||
| Q3 24 | — | $222.1M | ||
| Q2 24 | — | $222.1M |
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.3B | $720.3M | ||
| Q3 25 | $1.3B | $717.9M | ||
| Q2 25 | $1.2B | $699.7M | ||
| Q1 25 | $1.2B | $646.5M | ||
| Q4 24 | — | $616.9M | ||
| Q3 24 | $1.1B | $660.7M | ||
| Q2 24 | $1.1B | $640.3M |
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.1B | $1.4B | ||
| Q3 25 | $2.0B | $1.4B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $1.8B | $1.3B | ||
| Q2 24 | $1.7B | $1.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | 0.30× | ||
| Q1 25 | — | 0.41× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.34× | ||
| Q2 24 | — | 0.35× |
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 | $29.0M |
| 自由现金流经营现金流 - 资本支出 | $30.0M | $6.7M |
| 自由现金流率自由现金流/营收 | 11.0% | 1.7% |
| 资本支出强度资本支出/营收 | 4.8% | 5.8% |
| 现金转化率经营现金流/净利润 | 0.88× | 9.70× |
| 过去12个月自由现金流最近4个季度 | $161.5M | $61.1M |
8季度趋势，按日历期对齐
| Q1 26 | $42.9M | — | ||
| Q4 25 | $69.6M | $29.0M | ||
| Q3 25 | $60.4M | $56.1M | ||
| Q2 25 | $38.7M | $45.0M | ||
| Q1 25 | $66.7M | $-13.3M | ||
| Q4 24 | — | $36.6M | ||
| Q3 24 | $62.3M | $46.3M | ||
| Q2 24 | $49.0M | $37.1M |
| Q1 26 | $30.0M | — | ||
| Q4 25 | $49.4M | $6.7M | ||
| Q3 25 | $51.6M | $46.5M | ||
| Q2 25 | $30.5M | $36.2M | ||
| Q1 25 | $61.3M | $-28.2M | ||
| Q4 24 | — | $13.6M | ||
| Q3 24 | $57.1M | $26.6M | ||
| Q2 24 | $41.5M | $17.8M |
| Q1 26 | 11.0% | — | ||
| Q4 25 | 18.9% | 1.7% | ||
| Q3 25 | 20.5% | 12.0% | ||
| Q2 25 | 12.9% | 9.6% | ||
| Q1 25 | 28.1% | -8.0% | ||
| Q4 24 | — | 3.9% | ||
| Q3 24 | 28.5% | 7.2% | ||
| Q2 24 | 21.8% | 4.7% |
| Q1 26 | 4.8% | — | ||
| Q4 25 | 7.7% | 5.8% | ||
| Q3 25 | 3.5% | 2.5% | ||
| Q2 25 | 3.5% | 2.4% | ||
| Q1 25 | 2.4% | 4.2% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | 2.6% | 5.3% | ||
| Q2 24 | 3.9% | 5.2% |
| Q1 26 | 0.88× | — | ||
| Q4 25 | 1.54× | 9.70× | ||
| Q3 25 | 1.65× | 3.75× | ||
| Q2 25 | 1.22× | 94.43× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.39× | ||
| Q3 24 | 2.12× | 2.90× | ||
| Q2 24 | 2.46× | 1.97× |
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% |
THRM
| Climate Control Seats | $200.9M | 52% |
| Lumbar And Massage Comfort Solutions | $58.5M | 15% |
| Climate Control Interiors | $50.3M | 13% |
| Other Automotive | $27.6M | 7% |
| Valve Systems | $24.1M | 6% |
| Medical Segments | $13.9M | 4% |
| Climate And Comfort Electronics | $7.4M | 2% |
