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PATHWARD FINANCIAL, INC.（CASH）与IPG PHOTONICS CORP（IPGP）财务数据对比。点击上方公司名可切换其他公司
PATHWARD FINANCIAL, INC.的季度营收约是IPG PHOTONICS CORP的1.0倍（$276.3M vs $274.5M），PATHWARD FINANCIAL, INC.净利率更高（26.4% vs 4.8%，领先21.6%），过去两年PATHWARD FINANCIAL, INC.的营收复合增速更高（21.0% vs 4.4%）
Pathward Financial, Inc.是一家总部位于美国的银行及金融服务企业，其前身为Meta金融集团旗下相关业务主体，2022年母公司将“Meta”商标出售给Meta Platforms后，正式启用现有名称。
IPG光电是全球领先的光纤激光器制造商，率先实现光纤激光器的技术研发与商业化落地，产品广泛应用于材料加工、医疗、电信等多元领域，在美国、德国、俄罗斯、意大利均设有生产基地，为全球各行业客户提供高性能的激光解决方案。
CASH vs IPGP — 直观对比
营收规模更大
CASH
是对方的1.0倍
$274.5M
净利率更高
CASH
高出21.6%
4.8%
两年增速更快
CASH
近两年复合增速
4.4%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $276.3M | $274.5M |
| 净利润 | $72.9M | $13.3M |
| 毛利率 | — | 36.1% |
| 营业利润率 | — | 1.2% |
| 净利率 | 26.4% | 4.8% |
| 营收同比 | — | 17.1% |
| 净利润同比 | — | 69.8% |
| 每股收益（稀释后） | $3.35 | $0.30 |
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CASHIPGP
| Q1 26 | $276.3M | — | ||
| Q4 25 | $173.1M | $274.5M | ||
| Q3 25 | $186.7M | $250.8M | ||
| Q2 25 | $195.8M | $250.7M | ||
| Q1 25 | $274.8M | $227.8M | ||
| Q4 24 | $182.6M | $234.3M | ||
| Q3 24 | $179.5M | $233.1M | ||
| Q2 24 | $188.6M | $257.6M |
净利润CASHIPGP
| Q1 26 | $72.9M | — | ||
| Q4 25 | $35.2M | $13.3M | ||
| Q3 25 | $38.8M | $7.5M | ||
| Q2 25 | $42.1M | $6.6M | ||
| Q1 25 | $75.0M | $3.8M | ||
| Q4 24 | $30.0M | $7.8M | ||
| Q3 24 | $33.5M | $-233.6M | ||
| Q2 24 | $44.9M | $20.2M |
毛利率CASHIPGP
| Q1 26 | — | — | ||
| Q4 25 | — | 36.1% | ||
| Q3 25 | — | 39.5% | ||
| Q2 25 | — | 37.3% | ||
| Q1 25 | — | 39.4% | ||
| Q4 24 | — | 38.6% | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 37.3% |
营业利润率CASHIPGP
| Q1 26 | — | — | ||
| Q4 25 | 24.6% | 1.2% | ||
| Q3 25 | 25.9% | 3.1% | ||
| Q2 25 | 24.1% | 0.0% | ||
| Q1 25 | 33.2% | 0.8% | ||
| Q4 24 | 19.8% | 6.0% | ||
| Q3 24 | 20.9% | -108.7% | ||
| Q2 24 | 27.1% | 4.7% |
净利率CASHIPGP
| Q1 26 | 26.4% | — | ||
| Q4 25 | 20.3% | 4.8% | ||
| Q3 25 | 20.8% | 3.0% | ||
| Q2 25 | 21.5% | 2.6% | ||
| Q1 25 | 27.3% | 1.6% | ||
| Q4 24 | 16.4% | 3.3% | ||
| Q3 24 | 18.7% | -100.2% | ||
| Q2 24 | 23.8% | 7.8% |
每股收益（稀释后）CASHIPGP
| Q1 26 | $3.35 | — | ||
| Q4 25 | $1.57 | $0.30 | ||
| Q3 25 | $1.69 | $0.18 | ||
| Q2 25 | $1.81 | $0.16 | ||
| Q1 25 | $3.14 | $0.09 | ||
| Q4 24 | $1.23 | $0.27 | ||
| Q3 24 | $1.34 | $-5.33 | ||
| Q2 24 | $1.78 | $0.45 |
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 | $157.6M | $839.3M |
| 总债务越低越好 | $59.5M | — |
| 股东权益账面价值 | $850.7M | $2.1B |
| 总资产 | $7.1B | $2.4B |
| 负债/权益比越低杠杆越低 | 0.07× | — |
8季度趋势，按日历期对齐
现金及短期投资CASHIPGP
| Q1 26 | $157.6M | — | ||
| Q4 25 | $331.2M | $839.3M | ||
| Q3 25 | $120.6M | $870.4M | ||
| Q2 25 | $258.3M | $899.6M | ||
| Q1 25 | $254.2M | $926.9M | ||
| Q4 24 | $597.4M | $930.2M | ||
| Q3 24 | $158.3M | $1.0B | ||
| Q2 24 | $298.9M | $1.1B |
总债务CASHIPGP
| Q1 26 | $59.5M | — | ||
| Q4 25 | $33.5M | — | ||
| Q3 25 | $33.5M | — | ||
| Q2 25 | $33.4M | — | ||
| Q1 25 | $33.4M | — | ||
| Q4 24 | $33.4M | — | ||
| Q3 24 | $33.4M | — | ||
| Q2 24 | $33.3M | — |
股东权益CASHIPGP
| Q1 26 | $850.7M | — | ||
| Q4 25 | $854.5M | $2.1B | ||
| Q3 25 | $858.0M | $2.1B | ||
| Q2 25 | $819.0M | $2.1B | ||
| Q1 25 | $814.7M | $2.1B | ||
| Q4 24 | $758.3M | $2.0B | ||
| Q3 24 | $822.5M | $2.1B | ||
| Q2 24 | $748.4M | $2.3B |
总资产CASHIPGP
| Q1 26 | $7.1B | — | ||
| Q4 25 | $7.6B | $2.4B | ||
| Q3 25 | $7.2B | $2.4B | ||
| Q2 25 | $7.2B | $2.4B | ||
| Q1 25 | $7.0B | $2.3B | ||
| Q4 24 | $7.6B | $2.3B | ||
| Q3 24 | $7.5B | $2.4B | ||
| Q2 24 | $7.5B | $2.5B |
负债/权益比CASHIPGP
| Q1 26 | 0.07× | — | ||
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.04× | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.04× | — |
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 | — | $28.8M |
| 自由现金流经营现金流 - 资本支出 | — | $10.9M |
| 自由现金流率自由现金流/营收 | — | 4.0% |
| 资本支出强度资本支出/营收 | — | 6.5% |
| 现金转化率经营现金流/净利润 | — | 2.17× |
| 过去12个月自由现金流最近4个季度 | — | $-3.5M |
8季度趋势，按日历期对齐
经营现金流CASHIPGP
| Q1 26 | — | — | ||
| Q4 25 | $108.3M | $28.8M | ||
| Q3 25 | $303.7M | $35.3M | ||
| Q2 25 | $30.4M | $-2.2M | ||
| Q1 25 | $188.3M | $13.4M | ||
| Q4 24 | $-71.7M | $73.8M | ||
| Q3 24 | $143.1M | $66.1M | ||
| Q2 24 | $113.2M | $53.5M |
自由现金流CASHIPGP
| Q1 26 | — | — | ||
| Q4 25 | $104.1M | $10.9M | ||
| Q3 25 | $300.3M | $14.6M | ||
| Q2 25 | $27.7M | $-17.6M | ||
| Q1 25 | $184.7M | $-11.4M | ||
| Q4 24 | $-73.8M | $50.6M | ||
| Q3 24 | $138.8M | $43.0M | ||
| Q2 24 | $111.0M | $29.2M |
自由现金流率CASHIPGP
| Q1 26 | — | — | ||
| Q4 25 | 60.1% | 4.0% | ||
| Q3 25 | 160.9% | 5.8% | ||
| Q2 25 | 14.1% | -7.0% | ||
| Q1 25 | 67.2% | -5.0% | ||
| Q4 24 | -40.4% | 21.6% | ||
| Q3 24 | 77.3% | 18.4% | ||
| Q2 24 | 58.8% | 11.3% |
资本支出强度CASHIPGP
| Q1 26 | — | — | ||
| Q4 25 | 2.4% | 6.5% | ||
| Q3 25 | 1.8% | 8.3% | ||
| Q2 25 | 1.4% | 6.1% | ||
| Q1 25 | 1.3% | 10.9% | ||
| Q4 24 | 1.1% | 9.9% | ||
| Q3 24 | 2.4% | 9.9% | ||
| Q2 24 | 1.2% | 9.4% |
现金转化率CASHIPGP
| Q1 26 | — | — | ||
| Q4 25 | 3.08× | 2.17× | ||
| Q3 25 | 7.83× | 4.73× | ||
| Q2 25 | 0.72× | -0.34× | ||
| Q1 25 | 2.51× | 3.58× | ||
| Q4 24 | -2.39× | 9.44× | ||
| Q3 24 | 4.27× | — | ||
| Q2 24 | 2.52× | 2.65× |
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
CASH
| Noninterest Income | $151.2M | 55% |
| Net Interest Income | $125.1M | 45% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
