vs
西联汇款（AFG）与埃培智集团（IPG）财务数据对比。点击上方公司名可切换其他公司
埃培智集团的季度营收约是西联汇款的1.0倍（$2.1B vs $2.1B），西联汇款净利率更高（14.5% vs 5.8%，领先8.7%），西联汇款同比增速更快（-4.0% vs -4.8%），过去两年西联汇款的营收复合增速更高（4.0% vs -9.1%）
西联汇款是总部位于美国科罗拉多州丹佛市的跨国金融服务企业，为全球个人及商业客户提供跨境汇款、支付等多元金融解决方案，在全球绝大多数国家和地区拥有覆盖广泛的服务网络。
埃培智集团（IPG）是总部位于美国纽约的广告营销传播集团，旗下拥有FCB、IPG盟博、麦肯世界集团、睿狮集团等五大核心业务网络，以及公关、体育营销、艺人经纪、医疗营销等领域的多家专业独立代理商，被宏盟收购前是与WPP、阳狮、宏盟齐名的全球广告行业“四大集团”之一。
AFG vs IPG — 直观对比
营收规模更大
IPG
是对方的1.0倍
$2.1B
营收增速更快
AFG
高出0.8%
-4.8%
净利率更高
AFG
高出8.7%
5.8%
两年增速更快
AFG
近两年复合增速
-9.1%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.1B |
| 净利润 | $299.0M | $124.2M |
| 毛利率 | — | — |
| 营业利润率 | 18.4% | 10.3% |
| 净利率 | 14.5% | 5.8% |
| 营收同比 | -4.0% | -4.8% |
| 净利润同比 | 17.3% | 517.9% |
| 每股收益（稀释后） | $3.59 | $0.34 |
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AFGIPG
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.3B | $2.1B | ||
| Q2 25 | $1.9B | $2.2B | ||
| Q1 25 | $1.9B | $2.0B | ||
| Q4 24 | $2.1B | $2.4B | ||
| Q3 24 | $2.4B | $2.2B | ||
| Q2 24 | $1.9B | $2.3B | ||
| Q1 24 | $1.9B | $2.2B |
净利润AFGIPG
| Q4 25 | $299.0M | — | ||
| Q3 25 | $215.0M | $124.2M | ||
| Q2 25 | $174.0M | $162.5M | ||
| Q1 25 | $154.0M | $-85.4M | ||
| Q4 24 | $255.0M | $344.5M | ||
| Q3 24 | $181.0M | $20.1M | ||
| Q2 24 | $209.0M | $214.5M | ||
| Q1 24 | $242.0M | $110.4M |
毛利率AFGIPG
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -3.2% | ||
| Q4 24 | — | 10.1% | ||
| Q3 24 | — | 2.9% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | -1.1% |
营业利润率AFGIPG
| Q4 25 | 18.4% | — | ||
| Q3 25 | 11.5% | 10.3% | ||
| Q2 25 | 11.9% | 11.2% | ||
| Q1 25 | 10.6% | -2.1% | ||
| Q4 24 | 14.9% | 23.3% | ||
| Q3 24 | 9.7% | 5.9% | ||
| Q2 24 | 14.3% | 13.7% | ||
| Q1 24 | 15.9% | 8.4% |
净利率AFGIPG
| Q4 25 | 14.5% | — | ||
| Q3 25 | 9.2% | 5.8% | ||
| Q2 25 | 9.0% | 7.5% | ||
| Q1 25 | 8.3% | -4.3% | ||
| Q4 24 | 11.9% | 14.1% | ||
| Q3 24 | 7.6% | 0.9% | ||
| Q2 24 | 11.0% | 9.2% | ||
| Q1 24 | 12.7% | 5.1% |
每股收益（稀释后）AFGIPG
| Q4 25 | $3.59 | — | ||
| Q3 25 | $2.58 | $0.34 | ||
| Q2 25 | $2.07 | $0.44 | ||
| Q1 25 | $1.84 | $-0.23 | ||
| Q4 24 | $3.03 | $0.92 | ||
| Q3 24 | $2.16 | $0.05 | ||
| Q2 24 | $2.49 | $0.57 | ||
| Q1 24 | $2.89 | $0.29 |
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 | $1.7B | $1.5B |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $4.8B | $3.7B |
| 总资产 | $32.6B | $17.0B |
| 负债/权益比越低杠杆越低 | 0.38× | — |
8季度趋势，按日历期对齐
现金及短期投资AFGIPG
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.8B | $1.5B | ||
| Q2 25 | $1.3B | $1.6B | ||
| Q1 25 | $1.3B | $1.9B | ||
| Q4 24 | $1.4B | $2.2B | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $1.1B | $1.5B | ||
| Q1 24 | $1.1B | $1.9B |
总债务AFGIPG
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — |
股东权益AFGIPG
| Q4 25 | $4.8B | — | ||
| Q3 25 | $4.7B | $3.7B | ||
| Q2 25 | $4.5B | $3.7B | ||
| Q1 25 | $4.4B | $3.6B | ||
| Q4 24 | $4.5B | $3.8B | ||
| Q3 24 | $4.7B | $3.7B | ||
| Q2 24 | $4.4B | $3.8B | ||
| Q1 24 | $4.2B | $3.8B |
总资产AFGIPG
| Q4 25 | $32.6B | — | ||
| Q3 25 | $33.8B | $17.0B | ||
| Q2 25 | $30.7B | $17.0B | ||
| Q1 25 | $30.3B | $17.1B | ||
| Q4 24 | $30.8B | $18.3B | ||
| Q3 24 | $32.6B | $17.1B | ||
| Q2 24 | $29.9B | $17.0B | ||
| Q1 24 | $30.0B | $17.3B |
负债/权益比AFGIPG
| Q4 25 | 0.38× | — | ||
| Q3 25 | 0.38× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 0.33× | — | ||
| Q3 24 | 0.31× | — | ||
| Q2 24 | 0.34× | — | ||
| Q1 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 | $784.0M | $180.1M |
| 自由现金流经营现金流 - 资本支出 | — | $153.6M |
| 自由现金流率自由现金流/营收 | — | 7.2% |
| 资本支出强度资本支出/营收 | — | 1.2% |
| 现金转化率经营现金流/净利润 | 2.62× | 1.45× |
| 过去12个月自由现金流最近4个季度 | — | $806.8M |
8季度趋势，按日历期对齐
经营现金流AFGIPG
| Q4 25 | $784.0M | — | ||
| Q3 25 | $216.0M | $180.1M | ||
| Q2 25 | $191.0M | $-96.0M | ||
| Q1 25 | $342.0M | $-37.0M | ||
| Q4 24 | $674.0M | $868.1M | ||
| Q3 24 | $459.0M | $223.8M | ||
| Q2 24 | $-88.0M | $120.7M | ||
| Q1 24 | $107.0M | $-157.4M |
自由现金流AFGIPG
| Q4 25 | — | — | ||
| Q3 25 | — | $153.6M | ||
| Q2 25 | — | $-121.8M | ||
| Q1 25 | — | $-58.5M | ||
| Q4 24 | — | $833.5M | ||
| Q3 24 | — | $186.5M | ||
| Q2 24 | — | $85.9M | ||
| Q1 24 | — | $-192.5M |
自由现金流率AFGIPG
| Q4 25 | — | — | ||
| Q3 25 | — | 7.2% | ||
| Q2 25 | — | -5.6% | ||
| Q1 25 | — | -2.9% | ||
| Q4 24 | — | 34.2% | ||
| Q3 24 | — | 8.3% | ||
| Q2 24 | — | 3.7% | ||
| Q1 24 | — | -8.8% |
资本支出强度AFGIPG
| Q4 25 | — | — | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 1.6% |
现金转化率AFGIPG
| Q4 25 | 2.62× | — | ||
| Q3 25 | 1.00× | 1.45× | ||
| Q2 25 | 1.10× | -0.59× | ||
| Q1 25 | 2.22× | — | ||
| Q4 24 | 2.64× | 2.52× | ||
| Q3 24 | 2.54× | 11.13× | ||
| Q2 24 | -0.42× | 0.56× | ||
| Q1 24 | 0.44× | -1.43× |
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
AFG
| Property And Casualty Insurance | $2.0B | 96% |
| Other | $83.0M | 4% |
IPG
| MDE | $619.0M | 29% |
| IAC | $574.9M | 27% |
| Other | $527.9M | 25% |
| SCE | $413.8M | 19% |
