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爱玛客（ARMK）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爱玛客的1.2倍（$6.0B vs $4.8B），爱玛客净利率更高（2.0% vs 1.0%，领先1.0%），爱玛客同比增速更快（6.1% vs -0.6%），国际纸业自由现金流更多（$94.0M vs $-904.4M），过去两年国际纸业的营收复合增速更高（12.3% vs 7.3%）
爱玛客是美国知名的餐饮服务与设施管理服务商，服务覆盖教育、司法监管、医疗、企业、休闲文旅等多个领域，业务遍布北美地区及英国、德国、智利、爱尔兰、西班牙在内的14个国家，为各场景客户提供专业后勤支持解决方案。
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。
ARMK vs IP — 直观对比
营收规模更大
IP
是对方的1.2倍
$4.8B
营收增速更快
ARMK
高出6.7%
-0.6%
净利率更高
ARMK
高出1.0%
1.0%
自由现金流更多
IP
多$998.4M
$-904.4M
两年增速更快
IP
近两年复合增速
7.3%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.8B | $6.0B |
| 净利润 | $96.2M | $60.0M |
| 毛利率 | — | — |
| 营业利润率 | 4.5% | — |
| 净利率 | 2.0% | 1.0% |
| 营收同比 | 6.1% | -0.6% |
| 净利润同比 | -9.0% | 157.1% |
| 每股收益（稀释后） | $0.36 | $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ARMKIP
| Q1 26 | $4.8B | $6.0B | ||
| Q4 25 | $5.0B | $4.7B | ||
| Q3 25 | — | $6.2B | ||
| Q2 25 | $4.6B | $6.8B | ||
| Q1 25 | $4.3B | $5.9B | ||
| Q4 24 | $4.6B | $4.6B | ||
| Q3 24 | $4.4B | $4.7B | ||
| Q2 24 | $4.4B | $4.7B |
净利润ARMKIP
| Q1 26 | $96.2M | $60.0M | ||
| Q4 25 | $87.1M | $-2.4B | ||
| Q3 25 | — | $-1.1B | ||
| Q2 25 | $71.8M | $75.0M | ||
| Q1 25 | $61.9M | $-105.0M | ||
| Q4 24 | $105.6M | $-147.0M | ||
| Q3 24 | $122.4M | $150.0M | ||
| Q2 24 | $58.1M | $498.0M |
毛利率ARMKIP
| Q1 26 | — | — | ||
| Q4 25 | — | 32.2% | ||
| Q3 25 | — | 31.1% | ||
| Q2 25 | — | 27.9% | ||
| Q1 25 | — | 27.8% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 28.7% | ||
| Q2 24 | — | 29.0% |
营业利润率ARMKIP
| Q1 26 | 4.5% | — | ||
| Q4 25 | 4.3% | -56.4% | ||
| Q3 25 | — | -10.8% | ||
| Q2 25 | 3.9% | 1.7% | ||
| Q1 25 | 4.1% | -2.3% | ||
| Q4 24 | 4.8% | -4.9% | ||
| Q3 24 | 5.0% | 5.1% | ||
| Q2 24 | 3.7% | 6.8% |
净利率ARMKIP
| Q1 26 | 2.0% | 1.0% | ||
| Q4 25 | 1.7% | -50.3% | ||
| Q3 25 | — | -17.7% | ||
| Q2 25 | 1.6% | 1.1% | ||
| Q1 25 | 1.4% | -1.8% | ||
| Q4 24 | 2.3% | -3.2% | ||
| Q3 24 | 2.8% | 3.2% | ||
| Q2 24 | 1.3% | 10.5% |
每股收益（稀释后）ARMKIP
| Q1 26 | $0.36 | $0.14 | ||
| Q4 25 | $0.33 | $-4.76 | ||
| Q3 25 | — | $-2.09 | ||
| Q2 25 | $0.27 | $0.14 | ||
| Q1 25 | $0.23 | $-0.24 | ||
| Q4 24 | $0.39 | $-0.42 | ||
| Q3 24 | $0.46 | $0.42 | ||
| Q2 24 | $0.22 | $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 | $439.6M | — |
| 总债务越低越好 | $6.2B | $8.2B |
| 股东权益账面价值 | $3.2B | $14.8B |
| 总资产 | $13.5B | $36.4B |
| 负债/权益比越低杠杆越低 | 1.94× | 0.55× |
8季度趋势，按日历期对齐
现金及短期投资ARMKIP
| Q1 26 | $439.6M | — | ||
| Q4 25 | $639.1M | $1.1B | ||
| Q3 25 | — | $995.0M | ||
| Q2 25 | $501.5M | $1.1B | ||
| Q1 25 | $920.5M | $1.2B | ||
| Q4 24 | $484.1M | $1.2B | ||
| Q3 24 | $672.5M | $1.2B | ||
| Q2 24 | $436.1M | $1.0B |
总债务ARMKIP
| Q1 26 | $6.2B | $8.2B | ||
| Q4 25 | $5.4B | $8.8B | ||
| Q3 25 | — | $9.0B | ||
| Q2 25 | $6.3B | $9.7B | ||
| Q1 25 | $6.1B | $9.2B | ||
| Q4 24 | $5.0B | $5.4B | ||
| Q3 24 | $4.3B | $5.3B | ||
| Q2 24 | $5.0B | $5.3B |
股东权益ARMKIP
| Q1 26 | $3.2B | $14.8B | ||
| Q4 25 | $3.1B | $14.8B | ||
| Q3 25 | — | $17.3B | ||
| Q2 25 | $3.1B | $18.6B | ||
| Q1 25 | $3.0B | $18.1B | ||
| Q4 24 | $3.1B | $8.2B | ||
| Q3 24 | $3.0B | $8.6B | ||
| Q2 24 | $2.9B | $8.6B |
总资产ARMKIP
| Q1 26 | $13.5B | $36.4B | ||
| Q4 25 | $13.3B | $38.0B | ||
| Q3 25 | — | $40.6B | ||
| Q2 25 | $13.3B | $42.4B | ||
| Q1 25 | $13.5B | $41.2B | ||
| Q4 24 | $12.7B | $22.8B | ||
| Q3 24 | $12.7B | $23.2B | ||
| Q2 24 | $12.5B | $23.1B |
负债/权益比ARMKIP
| Q1 26 | 1.94× | 0.55× | ||
| Q4 25 | 1.71× | 0.60× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | 2.03× | 0.52× | ||
| Q1 25 | 2.02× | 0.51× | ||
| Q4 24 | 1.61× | 0.66× | ||
| Q3 24 | 1.42× | 0.62× | ||
| Q2 24 | 1.71× | 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 | $-782.2M | — |
| 自由现金流经营现金流 - 资本支出 | $-904.4M | $94.0M |
| 自由现金流率自由现金流/营收 | -18.7% | 1.6% |
| 资本支出强度资本支出/营收 | 2.5% | 8.7% |
| 现金转化率经营现金流/净利润 | -8.13× | — |
| 过去12个月自由现金流最近4个季度 | — | $553.0M |
8季度趋势，按日历期对齐
经营现金流ARMKIP
| Q1 26 | $-782.2M | — | ||
| Q4 25 | — | $905.0M | ||
| Q3 25 | — | $605.0M | ||
| Q2 25 | $76.7M | $476.0M | ||
| Q1 25 | $255.9M | $-288.0M | ||
| Q4 24 | $-587.2M | $397.0M | ||
| Q3 24 | $1.0B | $521.0M | ||
| Q2 24 | $140.7M | $365.0M |
自由现金流ARMKIP
| Q1 26 | $-904.4M | $94.0M | ||
| Q4 25 | — | $255.0M | ||
| Q3 25 | — | $150.0M | ||
| Q2 25 | $-34.7M | $54.0M | ||
| Q1 25 | $140.1M | $-618.0M | ||
| Q4 24 | $-707.0M | $137.0M | ||
| Q3 24 | $882.3M | $309.0M | ||
| Q2 24 | $55.6M | $167.0M |
自由现金流率ARMKIP
| Q1 26 | -18.7% | 1.6% | ||
| Q4 25 | — | 5.4% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | -0.8% | 0.8% | ||
| Q1 25 | 3.3% | -10.5% | ||
| Q4 24 | -15.5% | 3.0% | ||
| Q3 24 | 20.0% | 6.6% | ||
| Q2 24 | 1.3% | 3.5% |
资本支出强度ARMKIP
| Q1 26 | 2.5% | 8.7% | ||
| Q4 25 | 2.8% | 13.7% | ||
| Q3 25 | — | 7.3% | ||
| Q2 25 | 2.4% | 6.2% | ||
| Q1 25 | 2.7% | 5.6% | ||
| Q4 24 | 2.6% | 5.7% | ||
| Q3 24 | 3.2% | 4.5% | ||
| Q2 24 | 1.9% | 4.2% |
现金转化率ARMKIP
| Q1 26 | -8.13× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.07× | 6.35× | ||
| Q1 25 | 4.14× | — | ||
| Q4 24 | -5.56× | — | ||
| Q3 24 | 8.35× | 3.47× | ||
| Q2 24 | 2.42× | 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
ARMK
| Education | $1.1B | 22% |
| Sports Leisure Corrections | $961.2M | 20% |
| Food And Support Services International | $847.8M | 18% |
| Other | $621.6M | 13% |
| Businessand Industry | $510.6M | 11% |
| Health Care | $421.3M | 9% |
| Facility Services | $382.9M | 8% |
IP
| Packaging Solutions North America | $3.6B | 61% |
| Packaging Solutions EMEA | $2.3B | 39% |
| Corporate and Inter-segment Sales | $22.0M | 0% |
