vs
艾奕康（ACM）与国际纸业（IP）财务数据对比。点击上方公司名可切换其他公司
国际纸业的季度营收约是艾奕康的1.6倍（$6.0B vs $3.8B），艾奕康净利率更高（1.9% vs 1.0%，领先0.9%），艾奕康同比增速更快（1.6% vs -0.6%），国际纸业自由现金流更多（$94.0M vs $41.9M），过去两年国际纸业的营收复合增速更高（12.3% vs -1.4%）
AECOM是一家总部位于美国得克萨斯州达拉斯的跨国基础设施咨询企业，业务覆盖全球多地区，为交通、建筑、水务、能源等多个领域的工程项目提供专业规划、设计、项目管理等一体化咨询解决方案，在全球基建咨询行业拥有领先的市场地位。
国际纸业是总部位于美国田纳西州孟菲斯的纸浆及造纸企业，为全球规模最大的同类型企业，目前拥有约3.9万名员工，产品覆盖纸浆、包装用纸、办公用纸等品类，业务遍及全球多个国家和地区，广泛服务各行业客户的相关需求。
ACM vs IP — 直观对比
营收规模更大
IP
是对方的1.6倍
$3.8B
营收增速更快
ACM
高出2.2%
-0.6%
净利率更高
ACM
高出0.9%
1.0%
自由现金流更多
IP
多$52.1M
$41.9M
两年增速更快
IP
近两年复合增速
-1.4%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $6.0B |
| 净利润 | $74.5M | $60.0M |
| 毛利率 | 7.3% | — |
| 营业利润率 | 5.8% | — |
| 净利率 | 1.9% | 1.0% |
| 营收同比 | 1.6% | -0.6% |
| 净利润同比 | -48.0% | 157.1% |
| 每股收益（稀释后） | $0.56 | $0.14 |
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ACMIP
| Q1 26 | $3.8B | $6.0B | ||
| Q4 25 | — | $4.7B | ||
| Q3 25 | $4.2B | $6.2B | ||
| Q2 25 | $4.2B | $6.8B | ||
| Q1 25 | $3.8B | $5.9B | ||
| Q4 24 | $4.0B | $4.6B | ||
| Q3 24 | $4.1B | $4.7B | ||
| Q2 24 | $4.2B | $4.7B |
净利润ACMIP
| Q1 26 | $74.5M | $60.0M | ||
| Q4 25 | — | $-2.4B | ||
| Q3 25 | $120.4M | $-1.1B | ||
| Q2 25 | $131.0M | $75.0M | ||
| Q1 25 | $143.4M | $-105.0M | ||
| Q4 24 | $167.0M | $-147.0M | ||
| Q3 24 | $172.5M | $150.0M | ||
| Q2 24 | $134.3M | $498.0M |
毛利率ACMIP
| Q1 26 | 7.3% | — | ||
| Q4 25 | — | 32.2% | ||
| Q3 25 | 7.9% | 31.1% | ||
| Q2 25 | 7.8% | 27.9% | ||
| Q1 25 | 7.7% | 27.8% | ||
| Q4 24 | 6.7% | 29.0% | ||
| Q3 24 | 7.2% | 28.7% | ||
| Q2 24 | 6.9% | 29.0% |
营业利润率ACMIP
| Q1 26 | 5.8% | — | ||
| Q4 25 | — | -56.4% | ||
| Q3 25 | 5.7% | -10.8% | ||
| Q2 25 | 7.0% | 1.7% | ||
| Q1 25 | 6.8% | -2.3% | ||
| Q4 24 | 5.9% | -4.9% | ||
| Q3 24 | 5.8% | 5.1% | ||
| Q2 24 | 5.5% | 6.8% |
净利率ACMIP
| Q1 26 | 1.9% | 1.0% | ||
| Q4 25 | — | -50.3% | ||
| Q3 25 | 2.9% | -17.7% | ||
| Q2 25 | 3.1% | 1.1% | ||
| Q1 25 | 3.8% | -1.8% | ||
| Q4 24 | 4.2% | -3.2% | ||
| Q3 24 | 4.2% | 3.2% | ||
| Q2 24 | 3.2% | 10.5% |
每股收益（稀释后）ACMIP
| Q1 26 | $0.56 | $0.14 | ||
| Q4 25 | — | $-4.76 | ||
| Q3 25 | $0.90 | $-2.09 | ||
| Q2 25 | $0.98 | $0.14 | ||
| Q1 25 | $1.08 | $-0.24 | ||
| Q4 24 | $1.25 | $-0.42 | ||
| Q3 24 | $1.27 | $0.42 | ||
| Q2 24 | $0.98 | $1.41 |
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 | $1.2B | — |
| 总债务越低越好 | $2.6B | $8.2B |
| 股东权益账面价值 | $2.2B | $14.8B |
| 总资产 | $11.9B | $36.4B |
| 负债/权益比越低杠杆越低 | 1.18× | 0.55× |
8季度趋势，按日历期对齐
现金及短期投资ACMIP
| Q1 26 | $1.2B | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | $1.6B | $995.0M | ||
| Q2 25 | $1.8B | $1.1B | ||
| Q1 25 | $1.6B | $1.2B | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $1.6B | $1.2B | ||
| Q2 24 | $1.6B | $1.0B |
总债务ACMIP
| Q1 26 | $2.6B | $8.2B | ||
| Q4 25 | — | $8.8B | ||
| Q3 25 | $2.6B | $9.0B | ||
| Q2 25 | $2.5B | $9.7B | ||
| Q1 25 | $2.5B | $9.2B | ||
| Q4 24 | $2.5B | $5.4B | ||
| Q3 24 | $2.5B | $5.3B | ||
| Q2 24 | $2.5B | $5.3B |
股东权益ACMIP
| Q1 26 | $2.2B | $14.8B | ||
| Q4 25 | — | $14.8B | ||
| Q3 25 | $2.5B | $17.3B | ||
| Q2 25 | $2.5B | $18.6B | ||
| Q1 25 | $2.3B | $18.1B | ||
| Q4 24 | $2.2B | $8.2B | ||
| Q3 24 | $2.2B | $8.6B | ||
| Q2 24 | $2.3B | $8.6B |
总资产ACMIP
| Q1 26 | $11.9B | $36.4B | ||
| Q4 25 | — | $38.0B | ||
| Q3 25 | $12.2B | $40.6B | ||
| Q2 25 | $12.3B | $42.4B | ||
| Q1 25 | $11.8B | $41.2B | ||
| Q4 24 | $11.8B | $22.8B | ||
| Q3 24 | $12.1B | $23.2B | ||
| Q2 24 | $12.0B | $23.1B |
负债/权益比ACMIP
| Q1 26 | 1.18× | 0.55× | ||
| Q4 25 | — | 0.60× | ||
| Q3 25 | 1.06× | 0.52× | ||
| Q2 25 | 0.99× | 0.52× | ||
| Q1 25 | 1.07× | 0.51× | ||
| Q4 24 | 1.11× | 0.66× | ||
| Q3 24 | 1.12× | 0.62× | ||
| Q2 24 | 1.07× | 0.62× |
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 | $70.2M | — |
| 自由现金流经营现金流 - 资本支出 | $41.9M | $94.0M |
| 自由现金流率自由现金流/营收 | 1.1% | 1.6% |
| 资本支出强度资本支出/营收 | 0.7% | 8.7% |
| 现金转化率经营现金流/净利润 | 0.94× | — |
| 过去12个月自由现金流最近4个季度 | $616.0M | $553.0M |
8季度趋势，按日历期对齐
经营现金流ACMIP
| Q1 26 | $70.2M | — | ||
| Q4 25 | — | $905.0M | ||
| Q3 25 | $196.1M | $605.0M | ||
| Q2 25 | $283.7M | $476.0M | ||
| Q1 25 | $190.7M | $-288.0M | ||
| Q4 24 | $151.1M | $397.0M | ||
| Q3 24 | $298.8M | $521.0M | ||
| Q2 24 | $291.3M | $365.0M |
自由现金流ACMIP
| Q1 26 | $41.9M | $94.0M | ||
| Q4 25 | — | $255.0M | ||
| Q3 25 | $134.1M | $150.0M | ||
| Q2 25 | $261.7M | $54.0M | ||
| Q1 25 | $178.3M | $-618.0M | ||
| Q4 24 | $110.9M | $137.0M | ||
| Q3 24 | $274.5M | $309.0M | ||
| Q2 24 | $272.8M | $167.0M |
自由现金流率ACMIP
| Q1 26 | 1.1% | 1.6% | ||
| Q4 25 | — | 5.4% | ||
| Q3 25 | 3.2% | 2.4% | ||
| Q2 25 | 6.3% | 0.8% | ||
| Q1 25 | 4.7% | -10.5% | ||
| Q4 24 | 2.8% | 3.0% | ||
| Q3 24 | 6.7% | 6.6% | ||
| Q2 24 | 6.6% | 3.5% |
资本支出强度ACMIP
| Q1 26 | 0.7% | 8.7% | ||
| Q4 25 | — | 13.7% | ||
| Q3 25 | 1.5% | 7.3% | ||
| Q2 25 | 0.5% | 6.2% | ||
| Q1 25 | 0.3% | 5.6% | ||
| Q4 24 | 1.0% | 5.7% | ||
| Q3 24 | 0.6% | 4.5% | ||
| Q2 24 | 0.4% | 4.2% |
现金转化率ACMIP
| Q1 26 | 0.94× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.63× | — | ||
| Q2 25 | 2.17× | 6.35× | ||
| Q1 25 | 1.33× | — | ||
| Q4 24 | 0.90× | — | ||
| Q3 24 | 1.73× | 3.47× | ||
| Q2 24 | 2.17× | 0.73× |
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
ACM
暂无分部数据
IP
| Packaging Solutions North America | $3.6B | 61% |
| Packaging Solutions EMEA | $2.3B | 39% |
| Corporate and Inter-segment Sales | $22.0M | 0% |
