马拉松控股 MARA
$6.35 +$0.48 (+8.09%)
休市 · Nov 6, 8:10 pm ET · 最新盘后价 $6.32 -0.47%
开盘$6.21
昨收$5.88
当日区间$5.81 – $6.42
成交量34.81M
市值$2.45B
市盈率（TTM）–
股息率–
基本面
最新报告季度：Q2, ended Jun 2026
营收$174.88M-26.7% YoY
营业利润-$267.99M-67.2% YoY
净利润-$611.32M-175.6% YoY
摊薄每股收益-$1.60-187.0% YoY
自由现金流-$238.54M+15.5% YoY
经营现金流-$223.77M
营收，近8个季度
净利润，近8个季度
各季度摊薄每股收益
各季度自由现金流
年度营收
盈利能力与资产负债表
毛利率76.7%
营业利润率-126.3%
净利率-429.7%
净资产收益率-107.1%
资产收益率-57.3%
投入资本回报率-60.0%
流动比率0.89
负债/资产比率59.5%
现金及投资$421.27M
总负债$2.46B
净现金（净负债）-$2.04B
利润表
| 项目 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 | 2025 Q3 |
|---|---|---|---|---|---|
| 报告营业总收入 | $174.88M | $174.61M | $907.09M | $202.31M | $252.41M |
| 营业总收入 | $174.88M | $174.61M | $907.09M | $202.31M | $252.41M |
| 营业成本 | $48.75M | $44.73M | $179.04M | $50.75M | $43.08M |
| 毛利润 | $126.13M | $129.88M | $728.05M | $151.56M | $209.33M |
| 营业费用 | $394.12M | $387.97M | $1.55B | $483.37M | $365.65M |
| 销售及管理费用 | $114.70M | $86.86M | $349.94M | $85.83M | $85.30M |
| -管理费用 | $114.70M | $86.86M | $349.94M | $85.83M | $85.30M |
| 研发费用 | $7.17M | $8.25M | $30.12M | $3.56M | $8.72M |
| 折旧、摊销与折耗 | $174.66M | $191.56M | $772.77M | $285.82M | $167.31M |
| -折旧与摊销 | $174.66M | $191.56M | $772.77M | $285.82M | $167.31M |
| 其他税费 | $1.52M | $2.43M | $9.17M | $1.28M | $2.35M |
| 其他营业费用 | $96.06M | $100.68M | $388.23M | $106.89M | $101.97M |
| 营业利润 | -$267.99M | -$258.09M | -$822.17M | -$331.81M | -$156.32M |
| 非经营性利息净收入（支出） | $4.00M | -$188,000.00 | $7.47M | $3.70M | $4.93M |
| 非经营性利息收入 | $10.26M | $10.53M | $55.86M | $16.54M | $17.69M |
| 非经营性利息支出 | $6.26M | $10.72M | $48.38M | $12.85M | $12.76M |
| 其他收入（支出） | -$346.75M | -$1.03B | -$553.57M | -$1.57B | $312.21M |
| 证券出售收益 | -$344.78M | -$1.06B | -$385.30M | -$1.45B | $338.68M |
| 权益法投资收益 | -$2.86M | -$2.17M | -$4.70M | -$2.07M | -$1.71M |
| 特殊收益（费用） | -$1.75M | $24.67M | -$136.80M | -$84.64M | -$25.91M |
| -减：重组及并购费用 | $1.75M | $45.89M | $23.80M | $2.89M | $20.91M |
| -减：资本性资产减值 | $0.00 | – | $109.03M | – | – |
| 其他非经营性收入（支出） | $2.65M | – | -$26.78M | -$24.89M | $1.14M |
| 税前利润 | -$610.74M | -$1.29B | -$1.37B | -$1.89B | $160.81M |
| 税费 | $580,000.00 | -$30.93M | -$56.38M | -$183.39M | $37.68M |
| 净利润 | -$611.32M | -$1.26B | -$1.31B | -$1.71B | $123.13M |
| 持续经营利润 | -$611.32M | -$1.26B | -$1.31B | -$1.71B | $123.13M |
| 少数股东权益 | -$1.63M | -$2.78M | -$412,000.00 | – | – |
| 归属母公司净利润 | -$609.69M | -$1.26B | -$1.31B | -$1.71B | $123.13M |
| 归属普通股股东净利润 | -$609.69M | -$1.26B | -$1.31B | -$1.71B | $123.13M |
| 基本每股收益 | -$1.60 | -$3.31 | -$3.69 | -$4.52 | $0.33 |
| 摊薄每股收益 | -$1.60 | -$3.31 | -$3.69 | -$4.52 | $0.27 |
| 资产减值损失 | – | -$1.80M | – | – | – |
| -减：其他特殊支出 | – | -$70.56M | $3.97M | -$1.03M | $5.00M |
| 其他优先股股息 | – | – | $0.00 | $268,000.00 | $6,000.00 |
| -减：核销 | – | – | – | – | $0.00 |
资产负债表
| 项目 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 | 2025 Q3 |
|---|---|---|---|---|---|
| 总资产 | $4.35B | $4.95B | $7.29B | $7.29B | $9.15B |
| 流动资产合计 | $527.19M | $611.11M | $664.27M | $664.27M | $961.92M |
| 现金及现金等价物与短期投资 | $421.27M | $513.65M | $547.13M | $547.13M | $826.39M |
| -现金及现金等价物 | $421.27M | $513.65M | $547.13M | $547.13M | $826.39M |
| 应收款 | $27.49M | $25.64M | $18.54M | $18.54M | $33.12M |
| -其他应收款 | $27.49M | $25.64M | $18.54M | $18.54M | $33.12M |
| 预付资产 | $17.25M | $15.65M | $19.54M | $19.54M | $24.38M |
| 受限现金 | $12.00M | $12.00M | $12.00M | $12.00M | $12.00M |
| 其他流动资产 | $49.18M | $42.90M | $46.72M | $46.72M | $44.10M |
| 非流动资产合计 | $3.82B | $4.34B | $6.62B | $6.62B | $8.19B |
| 固定资产净值 | $1.25B | $1.44B | $1.52B | $1.52B | $1.59B |
| -固定资产原值 | $2.66B | $2.68B | $2.72B | $2.72B | $2.59B |
| -累计折旧 | -$1.41B | -$1.24B | -$1.20B | -$1.20B | -$1.01B |
| 投资及预付款 | $1.67B | $1.86B | $3.50B | $3.50B | $4.19B |
| -长期股权投资 | $37.27M | $40.66M | $42.68M | $42.68M | $46.19M |
| 金融资产 | $7.60M | $7.01M | $28.98M | $28.98M | $29.73M |
| 一年以上应收票据 | $540.87M | $680.52M | $1.34B | $1.34B | $1.97B |
| 一年以上预付资产 | $224.19M | $217.84M | $229.78M | $229.78M | $331.61M |
| 商誉及其他无形资产 | $130.23M | $133.61M | $988,000.00 | $988,000.00 | $83.55M |
| -商誉 | $89.72M | $90.49M | $0.00 | $0.00 | $82.78M |
| -其他无形资产 | $40.51M | $43.12M | $988,000.00 | $988,000.00 | $771,000.00 |
| 负债合计 | $2.59B | $2.62B | $3.81B | $3.81B | $3.98B |
| 流动负债合计 | $591.83M | $331.47M | $521.88M | $521.88M | $459.37M |
| 应付款 | $10.49M | $7.84M | $19.09M | $19.09M | $11.43M |
| -应付账款 | $10.49M | $7.84M | $12.55M | $12.55M | $11.43M |
| 一年内应计费用 | $74.17M | $105.03M | $59.01M | $59.01M | $74.33M |
| 短期债务及融资租赁负债 | $488.91M | $200.70M | $399.74M | $399.74M | $351.49M |
| -一年内到期债务 | $485.40M | $197.91M | $397.85M | $397.85M | $350.00M |
| -一年内到期融资租赁负债 | $3.52M | $2.79M | $1.90M | $1.90M | $1.49M |
| 其他流动负债 | $18.26M | $17.89M | $22.60M | $22.60M | $22.12M |
| 非流动负债合计 | $2.00B | $2.28B | $3.29B | $3.29B | $3.52B |
| 长期债务及融资租赁负债 | $1.98B | $2.26B | $3.25B | $3.25B | $3.29B |
| -长期债务 | $1.93B | $2.22B | $3.20B | $3.20B | $3.25B |
| -长期融资租赁负债 | $44.69M | $45.00M | $43.53M | $43.53M | $43.42M |
| 一年以上递延负债 | $7.72M | $8.62M | $29.86M | $29.86M | $215.76M |
| 其他非流动负债 | $12.90M | $12.68M | $12.46M | $12.46M | $12.25M |
| 股东权益合计 | $1.76B | $2.33B | $3.48B | $3.48B | $5.18B |
| 股东权益 | $1.66B | $2.23B | $3.47B | $3.47B | $5.16B |
| 股本 | $38,000.00 | $38,000.00 | $37,000.00 | $37,000.00 | $37,000.00 |
| -普通股 | $38,000.00 | $38,000.00 | $37,000.00 | $37,000.00 | $37,000.00 |
| -优先股 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 资本公积 | $4.87B | $4.83B | $4.81B | $4.81B | $4.79B |
| 留存收益 | -$3.21B | -$2.60B | -$1.34B | -$1.34B | $371.78M |
| 不影响留存收益的损益 | -$5.49M | -$4.54M | – | – | – |
| 少数股东权益 | $98.85M | $101.27M | $5.37M | $5.37M | $16.68M |
| -应付税款合计 | – | – | $6.55M | $6.55M | – |
现金流量表
| 项目 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 | 2025 Q3 |
|---|---|---|---|---|---|
| 经营活动现金流 | -$223.77M | -$247.49M | -$802.73M | -$224.75M | -$199.05M |
| 持续经营经营活动现金流净额 | -$223.77M | -$247.49M | -$802.73M | -$224.75M | -$199.05M |
| 持续经营净利润 | -$611.32M | -$1.26B | -$1.31B | -$1.71B | $123.13M |
| 持续经营损益 | -$1.01B | $991.25M | $376.35M | $428.87M | $6.13M |
| 折旧、折耗与摊销 | $174.66M | $191.56M | $772.77M | $285.82M | $167.31M |
| 递延税款 | -$903,000.00 | -$31.39M | -$58.65M | -$185.90M | $37.68M |
| 其他非现金项目 | -$7.51M | $35.73M | $15.92M | -$3.49M | $15.15M |
| 营运资金变动 | -$173.02M | -$202.74M | -$878.55M | -$178.53M | -$243.82M |
| 投资活动现金流净额 | $275.26M | $1.19B | -$669.92M | -$47.26M | -$285.65M |
| 持续经营投资活动现金流净额 | $275.26M | $1.19B | -$669.92M | -$47.26M | -$285.65M |
| 固定资产购置及出售净额 | -$13.64M | -$78.91M | -$403.42M | -$164.47M | -$84.85M |
| 无形资产购置及出售净额 | $11,000.00 | -$535,000.00 | $0.00 | – | – |
| 业务购买及出售净额 | $133.39M | -$194.42M | -$73.38M | -$4.85M | -$6.88M |
| 投资购置及出售净额 | $162.39M | $1.46B | -$39.89M | $59.79M | -$86.80M |
| 其他投资变动净额 | -$6.88M | -$629,000.00 | -$153.24M | $62.28M | -$107.12M |
| 筹资活动现金流 | -$7.71M | -$1.11B | $1.63B | -$7.26M | $1.20B |
| 持续经营筹资活动现金流净额 | -$7.71M | -$1.11B | $1.63B | -$7.26M | $1.20B |
| 债务发行及偿还净额 | -$173,000.00 | -$1.11B | $1.15B | -$786,000.00 | $996.53M |
| 普通股发行净额 | $0.00 | $0.00 | $568.56M | -$3.33M | $252.55M |
| 其他筹资费用净额 | -$7.53M | $4.48M | -$86.13M | -$3.14M | -$47.46M |
| 期末现金余额 | $433.27M | $525.65M | $559.13M | $559.13M | $838.39M |
| 现金净变动 | $43.79M | -$165.50M | $155.36M | -$279.26M | $716.92M |
| 期初现金余额 | $525.65M | $694.80M | $403.77M | $838.39M | $121.48M |
| 汇率变动影响 | -$503,000.00 | -$3.64M | – | – | – |
| 自由现金流 | -$238.54M | -$327.55M | -$1.21B | -$389.22M | -$283.88M |
| -应收款变动 | – | – | $1.81M | – | – |
| -预付资产变动 | – | – | $19.94M | – | – |
| -应付账款及应计费用变动 | – | – | -$2.86M | – | – |
| -其他流动资产变动 | – | – | -$897.45M | – | – |
| 优先股发行净额 | – | – | $0.00 | – | – |
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