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微宏控股（MVST）与Planet Labs PBC（PL）财务数据对比。点击上方公司名可切换其他公司
微宏控股的季度营收约是Planet Labs PBC的1.2倍（$96.4M vs $81.3M），微宏控股净利率更高（17.2% vs -72.8%，领先90.0%），Planet Labs PBC同比增速更快（32.6% vs -15.0%），微宏控股自由现金流更多（$15.8M vs $1.9M），过去两年Planet Labs PBC的营收复合增速更高（17.5% vs 8.9%）
微宏控股是一家电池科技企业，总部位于美国得克萨斯州斯塔福德，在纳斯达克上市。公司主要面向商用电动汽车与并网储能系统，设计、研发并生产电池组件及电池系统，目前在美国、中国、德国均设有生产基地。
Planet Labs PBC（常简称为Planet）是总部位于美国加利福尼亚州旧金山的上市地球影像企业，核心目标是实现全球范围的每日成像，以此监测地表变化、精准识别相关趋势，为多行业的地理数据分析需求提供可靠的数据支持。
MVST vs PL — 直观对比
营收规模更大
MVST
是对方的1.2倍
$81.3M
营收增速更快
PL
高出47.6%
-15.0%
净利率更高
MVST
高出90.0%
-72.8%
自由现金流更多
MVST
多$13.9M
$1.9M
两年增速更快
PL
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $96.4M | $81.3M |
| 净利润 | $16.5M | $-59.2M |
| 毛利率 | 1.0% | 57.3% |
| 营业利润率 | -42.7% | -22.6% |
| 净利率 | 17.2% | -72.8% |
| 营收同比 | -15.0% | 32.6% |
| 净利润同比 | 120.1% | -194.7% |
| 每股收益（稀释后） | $0.19 | $-0.19 |
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MVSTPL
| Q4 25 | $96.4M | $81.3M | ||
| Q3 25 | $123.3M | $73.4M | ||
| Q2 25 | $91.3M | $66.3M | ||
| Q1 25 | $116.5M | $61.6M | ||
| Q4 24 | $113.4M | $61.3M | ||
| Q3 24 | $101.4M | $61.1M | ||
| Q2 24 | $83.7M | $60.4M | ||
| Q1 24 | $81.4M | $58.9M |
净利润MVSTPL
| Q4 25 | $16.5M | $-59.2M | ||
| Q3 25 | $-1.5M | $-22.6M | ||
| Q2 25 | $-106.1M | $-12.6M | ||
| Q1 25 | $61.8M | $-35.2M | ||
| Q4 24 | $-82.3M | $-20.1M | ||
| Q3 24 | $13.2M | $-38.7M | ||
| Q2 24 | $-101.6M | $-29.3M | ||
| Q1 24 | $-24.8M | $-30.1M |
毛利率MVSTPL
| Q4 25 | 1.0% | 57.3% | ||
| Q3 25 | 37.6% | 57.6% | ||
| Q2 25 | 34.7% | 55.2% | ||
| Q1 25 | 36.9% | 62.1% | ||
| Q4 24 | 36.6% | 61.2% | ||
| Q3 24 | 33.2% | 52.9% | ||
| Q2 24 | 32.5% | 52.4% | ||
| Q1 24 | 21.2% | 55.2% |
营业利润率MVSTPL
| Q4 25 | -42.7% | -22.6% | ||
| Q3 25 | 10.5% | -24.5% | ||
| Q2 25 | 17.8% | -34.4% | ||
| Q1 25 | 16.3% | -31.5% | ||
| Q4 24 | -1.2% | -36.9% | ||
| Q3 24 | 7.1% | -64.8% | ||
| Q2 24 | -118.0% | -57.2% | ||
| Q1 24 | -28.4% | -57.6% |
净利率MVSTPL
| Q4 25 | 17.2% | -72.8% | ||
| Q3 25 | -1.2% | -30.8% | ||
| Q2 25 | -116.1% | -19.1% | ||
| Q1 25 | 53.0% | -57.1% | ||
| Q4 24 | -72.6% | -32.8% | ||
| Q3 24 | 13.1% | -63.3% | ||
| Q2 24 | -121.4% | -48.5% | ||
| Q1 24 | -30.5% | -51.1% |
每股收益（稀释后）MVSTPL
| Q4 25 | $0.19 | $-0.19 | ||
| Q3 25 | $0.00 | $-0.07 | ||
| Q2 25 | $-0.33 | $-0.04 | ||
| Q1 25 | $0.05 | $-0.12 | ||
| Q4 24 | $-0.24 | $-0.07 | ||
| Q3 24 | $0.03 | $-0.13 | ||
| Q2 24 | $-0.32 | $-0.10 | ||
| Q1 24 | $-0.08 | $-0.10 |
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 | $105.0M | $443.3M |
| 总债务越低越好 | $13.2M | — |
| 股东权益账面价值 | $410.5M | $349.6M |
| 总资产 | $1.0B | $1.1B |
| 负债/权益比越低杠杆越低 | 0.03× | — |
8季度趋势，按日历期对齐
现金及短期投资MVSTPL
| Q4 25 | $105.0M | $443.3M | ||
| Q3 25 | $90.7M | $181.1M | ||
| Q2 25 | $99.7M | $133.5M | ||
| Q1 25 | $90.9M | $118.0M | ||
| Q4 24 | $73.0M | $139.0M | ||
| Q3 24 | $63.6M | $148.3M | ||
| Q2 24 | $68.2M | $107.4M | ||
| Q1 24 | $39.5M | $83.9M |
总债务MVSTPL
| Q4 25 | $13.2M | — | ||
| Q3 25 | $34.4M | — | ||
| Q2 25 | $34.2M | — | ||
| Q1 25 | $41.3M | — | ||
| Q4 24 | $41.1M | — | ||
| Q3 24 | $53.4M | — | ||
| Q2 24 | $34.2M | — | ||
| Q1 24 | $43.0M | — |
股东权益MVSTPL
| Q4 25 | $410.5M | $349.6M | ||
| Q3 25 | $358.1M | $435.7M | ||
| Q2 25 | $356.1M | $444.8M | ||
| Q1 25 | $454.2M | $441.3M | ||
| Q4 24 | $387.9M | $464.6M | ||
| Q3 24 | $486.1M | $473.2M | ||
| Q2 24 | $455.0M | $500.3M | ||
| Q1 24 | $546.1M | $518.0M |
总资产MVSTPL
| Q4 25 | $1.0B | $1.1B | ||
| Q3 25 | $1.0B | $696.4M | ||
| Q2 25 | $1.0B | $658.4M | ||
| Q1 25 | $982.9M | $633.8M | ||
| Q4 24 | $951.9M | $630.8M | ||
| Q3 24 | $997.9M | $658.4M | ||
| Q2 24 | $961.4M | $674.6M | ||
| Q1 24 | $1.0B | $702.0M |
负债/权益比MVSTPL
| Q4 25 | 0.03× | — | ||
| Q3 25 | 0.10× | — | ||
| Q2 25 | 0.10× | — | ||
| Q1 25 | 0.09× | — | ||
| Q4 24 | 0.11× | — | ||
| Q3 24 | 0.11× | — | ||
| Q2 24 | 0.08× | — | ||
| Q1 24 | 0.08× | — |
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 | $16.4M | $28.6M |
| 自由现金流经营现金流 - 资本支出 | $15.8M | $1.9M |
| 自由现金流率自由现金流/营收 | 16.4% | 2.3% |
| 资本支出强度资本支出/营收 | 0.7% | 32.9% |
| 现金转化率经营现金流/净利润 | 0.99× | — |
| 过去12个月自由现金流最近4个季度 | $56.1M | $40.7M |
8季度趋势，按日历期对齐
经营现金流MVSTPL
| Q4 25 | $16.4M | $28.6M | ||
| Q3 25 | $15.2M | $67.8M | ||
| Q2 25 | $37.2M | $17.3M | ||
| Q1 25 | $7.2M | $-6.3M | ||
| Q4 24 | $6.1M | $4.1M | ||
| Q3 24 | $-5.4M | $-7.9M | ||
| Q2 24 | $111.0K | $-4.3M | ||
| Q1 24 | $2.0M | $-6.8M |
自由现金流MVSTPL
| Q4 25 | $15.8M | $1.9M | ||
| Q3 25 | $1.2M | $47.5M | ||
| Q2 25 | $34.3M | $9.2M | ||
| Q1 25 | $4.8M | $-17.9M | ||
| Q4 24 | $5.7M | $-3.6M | ||
| Q3 24 | $-19.6M | $-23.0M | ||
| Q2 24 | $-2.8M | $-14.2M | ||
| Q1 24 | $-8.2M | $-15.7M |
自由现金流率MVSTPL
| Q4 25 | 16.4% | 2.3% | ||
| Q3 25 | 1.0% | 64.7% | ||
| Q2 25 | 37.5% | 13.9% | ||
| Q1 25 | 4.1% | -29.1% | ||
| Q4 24 | 5.1% | -5.8% | ||
| Q3 24 | -19.3% | -37.6% | ||
| Q2 24 | -3.4% | -23.6% | ||
| Q1 24 | -10.1% | -26.7% |
资本支出强度MVSTPL
| Q4 25 | 0.7% | 32.9% | ||
| Q3 25 | 11.3% | 27.6% | ||
| Q2 25 | 3.1% | 12.3% | ||
| Q1 25 | 2.0% | 18.9% | ||
| Q4 24 | 0.3% | 12.5% | ||
| Q3 24 | 14.0% | 24.8% | ||
| Q2 24 | 3.5% | 16.4% | ||
| Q1 24 | 12.6% | 15.1% |
现金转化率MVSTPL
| Q4 25 | 0.99× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.12× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.41× | — | ||
| Q2 24 | — | — | ||
| 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
MVST
| Europe | $35.1M | 36% |
| CN | $32.5M | 34% |
| US | $21.5M | 22% |
| Other | $7.2M | 8% |
PL
| Defense And Intelligence | $49.4M | 61% |
| Civil Government | $18.8M | 23% |
| Commercial | $13.1M | 16% |
