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微宏控股（MVST）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
Rivian Automotive, Inc.的季度营收约是微宏控股的13.3倍（$1.3B vs $96.4M），微宏控股净利率更高（17.2% vs -63.1%，领先80.2%），微宏控股同比增速更快（-15.0% vs -25.8%），微宏控股自由现金流更多（$15.8M vs $-1.1B），过去两年微宏控股的营收复合增速更高（8.9% vs 3.3%）
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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
MVST vs RIVN — 直观对比
营收规模更大
RIVN
是对方的13.3倍
$96.4M
营收增速更快
MVST
高出10.9%
-25.8%
净利率更高
MVST
高出80.2%
-63.1%
自由现金流更多
MVST
多$1.2B
$-1.1B
两年增速更快
MVST
近两年复合增速
3.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $96.4M | $1.3B |
| 净利润 | $16.5M | $-811.0M |
| 毛利率 | 1.0% | 9.3% |
| 营业利润率 | -42.7% | -64.8% |
| 净利率 | 17.2% | -63.1% |
| 营收同比 | -15.0% | -25.8% |
| 净利润同比 | 120.1% | -9.0% |
| 每股收益（稀释后） | $0.19 | $-0.66 |
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MVSTRIVN
| Q4 25 | $96.4M | $1.3B | ||
| Q3 25 | $123.3M | $1.6B | ||
| Q2 25 | $91.3M | $1.3B | ||
| Q1 25 | $116.5M | $1.2B | ||
| Q4 24 | $113.4M | $1.7B | ||
| Q3 24 | $101.4M | $874.0M | ||
| Q2 24 | $83.7M | $1.2B | ||
| Q1 24 | $81.4M | $1.2B |
净利润MVSTRIVN
| Q4 25 | $16.5M | $-811.0M | ||
| Q3 25 | $-1.5M | $-1.2B | ||
| Q2 25 | $-106.1M | $-1.1B | ||
| Q1 25 | $61.8M | $-545.0M | ||
| Q4 24 | $-82.3M | $-744.0M | ||
| Q3 24 | $13.2M | $-1.1B | ||
| Q2 24 | $-101.6M | $-1.5B | ||
| Q1 24 | $-24.8M | $-1.4B |
毛利率MVSTRIVN
| Q4 25 | 1.0% | 9.3% | ||
| Q3 25 | 37.6% | 1.5% | ||
| Q2 25 | 34.7% | -15.8% | ||
| Q1 25 | 36.9% | 16.6% | ||
| Q4 24 | 36.6% | 9.8% | ||
| Q3 24 | 33.2% | -44.9% | ||
| Q2 24 | 32.5% | -38.9% | ||
| Q1 24 | 21.2% | -43.8% |
营业利润率MVSTRIVN
| Q4 25 | -42.7% | -64.8% | ||
| Q3 25 | 10.5% | -63.1% | ||
| Q2 25 | 17.8% | -85.5% | ||
| Q1 25 | 16.3% | -52.8% | ||
| Q4 24 | -1.2% | -38.1% | ||
| Q3 24 | 7.1% | -133.8% | ||
| Q2 24 | -118.0% | -118.7% | ||
| Q1 24 | -28.4% | -123.3% |
净利率MVSTRIVN
| Q4 25 | 17.2% | -63.1% | ||
| Q3 25 | -1.2% | -75.3% | ||
| Q2 25 | -116.1% | -85.7% | ||
| Q1 25 | 53.0% | -44.0% | ||
| Q4 24 | -72.6% | -42.9% | ||
| Q3 24 | 13.1% | -125.9% | ||
| Q2 24 | -121.4% | -125.8% | ||
| Q1 24 | -30.5% | -120.1% |
每股收益（稀释后）MVSTRIVN
| Q4 25 | $0.19 | $-0.66 | ||
| Q3 25 | $0.00 | $-0.96 | ||
| Q2 25 | $-0.33 | $-0.97 | ||
| Q1 25 | $0.05 | $-0.48 | ||
| Q4 24 | $-0.24 | $-0.67 | ||
| Q3 24 | $0.03 | $-1.08 | ||
| Q2 24 | $-0.32 | $-1.46 | ||
| Q1 24 | $-0.08 | $-1.48 |
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 | $6.1B |
| 总债务越低越好 | $13.2M | — |
| 股东权益账面价值 | $410.5M | $4.6B |
| 总资产 | $1.0B | $14.9B |
| 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MVSTRIVN
| Q4 25 | $105.0M | $6.1B | ||
| Q3 25 | $90.7M | $7.1B | ||
| Q2 25 | $99.7M | $7.5B | ||
| Q1 25 | $90.9M | $7.2B | ||
| Q4 24 | $73.0M | $7.7B | ||
| Q3 24 | $63.6M | $6.7B | ||
| Q2 24 | $68.2M | $7.9B | ||
| Q1 24 | $39.5M | $7.9B |
总债务MVSTRIVN
| 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 | $5.5B | ||
| Q1 24 | $43.0M | $4.4B |
股东权益MVSTRIVN
| Q4 25 | $410.5M | $4.6B | ||
| Q3 25 | $358.1M | $5.1B | ||
| Q2 25 | $356.1M | $6.1B | ||
| Q1 25 | $454.2M | $6.2B | ||
| Q4 24 | $387.9M | $6.6B | ||
| Q3 24 | $486.1M | $5.9B | ||
| Q2 24 | $455.0M | $6.8B | ||
| Q1 24 | $546.1M | $8.1B |
总资产MVSTRIVN
| Q4 25 | $1.0B | $14.9B | ||
| Q3 25 | $1.0B | $15.2B | ||
| Q2 25 | $1.0B | $15.6B | ||
| Q1 25 | $982.9M | $15.5B | ||
| Q4 24 | $951.9M | $15.4B | ||
| Q3 24 | $997.9M | $14.3B | ||
| Q2 24 | $961.4M | $15.4B | ||
| Q1 24 | $1.0B | $15.7B |
负债/权益比MVSTRIVN
| 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× | 0.81× | ||
| Q1 24 | 0.08× | 0.55× |
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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $15.8M | $-1.1B |
| 自由现金流率自由现金流/营收 | 16.4% | -89.0% |
| 资本支出强度资本支出/营收 | 0.7% | 36.0% |
| 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 | $-2.5B |
8季度趋势，按日历期对齐
经营现金流MVSTRIVN
| Q4 25 | $16.4M | $-681.0M | ||
| Q3 25 | $15.2M | $26.0M | ||
| Q2 25 | $37.2M | $64.0M | ||
| Q1 25 | $7.2M | $-188.0M | ||
| Q4 24 | $6.1M | $1.2B | ||
| Q3 24 | $-5.4M | $-876.0M | ||
| Q2 24 | $111.0K | $-754.0M | ||
| Q1 24 | $2.0M | $-1.3B |
自由现金流MVSTRIVN
| Q4 25 | $15.8M | $-1.1B | ||
| Q3 25 | $1.2M | $-421.0M | ||
| Q2 25 | $34.3M | $-398.0M | ||
| Q1 25 | $4.8M | $-526.0M | ||
| Q4 24 | $5.7M | $856.0M | ||
| Q3 24 | $-19.6M | $-1.2B | ||
| Q2 24 | $-2.8M | $-1.0B | ||
| Q1 24 | $-8.2M | $-1.5B |
自由现金流率MVSTRIVN
| Q4 25 | 16.4% | -89.0% | ||
| Q3 25 | 1.0% | -27.0% | ||
| Q2 25 | 37.5% | -30.5% | ||
| Q1 25 | 4.1% | -42.4% | ||
| Q4 24 | 5.1% | 49.4% | ||
| Q3 24 | -19.3% | -131.9% | ||
| Q2 24 | -3.4% | -89.6% | ||
| Q1 24 | -10.1% | -126.5% |
资本支出强度MVSTRIVN
| Q4 25 | 0.7% | 36.0% | ||
| Q3 25 | 11.3% | 28.7% | ||
| Q2 25 | 3.1% | 35.5% | ||
| Q1 25 | 2.0% | 27.3% | ||
| Q4 24 | 0.3% | 18.9% | ||
| Q3 24 | 14.0% | 31.7% | ||
| Q2 24 | 3.5% | 24.4% | ||
| Q1 24 | 12.6% | 21.1% |
现金转化率MVSTRIVN
| 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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
