vs
金宝汤（CPB）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金宝汤的2.2倍（$6.0B vs $2.7B），金宝汤净利率更高（7.2% vs 1.0%，领先6.2%），国际纸业同比增速更快（-0.6% vs -3.4%），金宝汤自由现金流更多（$97.0M vs $94.0M），过去两年国际纸业的营收复合增速更高（12.3% vs 4.4%）
金宝汤是美国知名食品企业，核心旗舰产品为罐装汤品。其品牌旗下众多产品采用的经典红白罐设计已成为美国文化符号之一，艺术家安迪·沃霍尔创作的金宝汤罐系列波普艺术作品更让这一设计广为人知。
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。
CPB vs IP — 直观对比
营收规模更大
IP
是对方的2.2倍
$2.7B
营收增速更快
IP
高出2.8%
-3.4%
净利率更高
CPB
高出6.2%
1.0%
自由现金流更多
CPB
多$3.0M
$94.0M
两年增速更快
IP
近两年复合增速
4.4%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $6.0B |
| 净利润 | $194.0M | $60.0M |
| 毛利率 | 29.6% | — |
| 营业利润率 | 12.6% | — |
| 净利率 | 7.2% | 1.0% |
| 营收同比 | -3.4% | -0.6% |
| 净利润同比 | -11.0% | 157.1% |
| 每股收益（稀释后） | $0.65 | $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CPBIP
| Q1 26 | — | $6.0B | ||
| Q4 25 | $2.7B | $4.7B | ||
| Q3 25 | $2.3B | $6.2B | ||
| Q2 25 | $2.5B | $6.8B | ||
| Q1 25 | $2.7B | $5.9B | ||
| Q4 24 | $2.8B | $4.6B | ||
| Q3 24 | $2.3B | $4.7B | ||
| Q2 24 | $2.4B | $4.7B |
净利润CPBIP
| Q1 26 | — | $60.0M | ||
| Q4 25 | $194.0M | $-2.4B | ||
| Q3 25 | $145.0M | $-1.1B | ||
| Q2 25 | $66.0M | $75.0M | ||
| Q1 25 | $173.0M | $-105.0M | ||
| Q4 24 | $218.0M | $-147.0M | ||
| Q3 24 | $-3.0M | $150.0M | ||
| Q2 24 | $133.0M | $498.0M |
毛利率CPBIP
| Q1 26 | — | — | ||
| Q4 25 | 29.6% | 32.2% | ||
| Q3 25 | 30.4% | 31.1% | ||
| Q2 25 | 29.4% | 27.9% | ||
| Q1 25 | 30.5% | 27.8% | ||
| Q4 24 | 31.3% | 29.0% | ||
| Q3 24 | 29.4% | 28.7% | ||
| Q2 24 | 30.9% | 29.0% |
营业利润率CPBIP
| Q1 26 | — | — | ||
| Q4 25 | 12.6% | -56.4% | ||
| Q3 25 | 11.6% | -10.8% | ||
| Q2 25 | 6.5% | 1.7% | ||
| Q1 25 | 12.2% | -2.3% | ||
| Q4 24 | 13.2% | -4.9% | ||
| Q3 24 | 3.4% | 5.1% | ||
| Q2 24 | 10.5% | 6.8% |
净利率CPBIP
| Q1 26 | — | 1.0% | ||
| Q4 25 | 7.2% | -50.3% | ||
| Q3 25 | 6.2% | -17.7% | ||
| Q2 25 | 2.7% | 1.1% | ||
| Q1 25 | 6.4% | -1.8% | ||
| Q4 24 | 7.9% | -3.2% | ||
| Q3 24 | -0.1% | 3.2% | ||
| Q2 24 | 5.6% | 10.5% |
每股收益（稀释后）CPBIP
| Q1 26 | — | $0.14 | ||
| Q4 25 | $0.65 | $-4.76 | ||
| Q3 25 | $0.49 | $-2.09 | ||
| Q2 25 | $0.22 | $0.14 | ||
| Q1 25 | $0.58 | $-0.24 | ||
| Q4 24 | $0.72 | $-0.42 | ||
| Q3 24 | $-0.01 | $0.42 | ||
| Q2 24 | $0.44 | $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 | $168.0M | — |
| 总债务越低越好 | $6.1B | $8.2B |
| 股东权益账面价值 | $4.0B | $14.8B |
| 总资产 | $15.2B | $36.4B |
| 负债/权益比越低杠杆越低 | 1.54× | 0.55× |
8季度趋势，按日历期对齐
现金及短期投资CPBIP
| Q1 26 | — | — | ||
| Q4 25 | $168.0M | $1.1B | ||
| Q3 25 | $132.0M | $995.0M | ||
| Q2 25 | $143.0M | $1.1B | ||
| Q1 25 | $829.0M | $1.2B | ||
| Q4 24 | $808.0M | $1.2B | ||
| Q3 24 | $108.0M | $1.2B | ||
| Q2 24 | $107.0M | $1.0B |
总债务CPBIP
| Q1 26 | — | $8.2B | ||
| Q4 25 | $6.1B | $8.8B | ||
| Q3 25 | $6.1B | $9.0B | ||
| Q2 25 | $6.1B | $9.7B | ||
| Q1 25 | $6.5B | $9.2B | ||
| Q4 24 | $6.7B | $5.4B | ||
| Q3 24 | $5.8B | $5.3B | ||
| Q2 24 | $5.8B | $5.3B |
股东权益CPBIP
| Q1 26 | — | $14.8B | ||
| Q4 25 | $4.0B | $14.8B | ||
| Q3 25 | $3.9B | $17.3B | ||
| Q2 25 | $3.9B | $18.6B | ||
| Q1 25 | $3.9B | $18.1B | ||
| Q4 24 | $3.8B | $8.2B | ||
| Q3 24 | $3.8B | $8.6B | ||
| Q2 24 | $3.9B | $8.6B |
总资产CPBIP
| Q1 26 | — | $36.4B | ||
| Q4 25 | $15.2B | $38.0B | ||
| Q3 25 | $14.9B | $40.6B | ||
| Q2 25 | $14.8B | $42.4B | ||
| Q1 25 | $15.9B | $41.2B | ||
| Q4 24 | $16.1B | $22.8B | ||
| Q3 24 | $15.2B | $23.2B | ||
| Q2 24 | $15.2B | $23.1B |
负债/权益比CPBIP
| Q1 26 | — | 0.55× | ||
| Q4 25 | 1.54× | 0.60× | ||
| Q3 25 | 1.56× | 0.52× | ||
| Q2 25 | 1.58× | 0.52× | ||
| Q1 25 | 1.66× | 0.51× | ||
| Q4 24 | 1.75× | 0.66× | ||
| Q3 24 | 1.52× | 0.62× | ||
| Q2 24 | 1.47× | 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 | $224.0M | — |
| 自由现金流经营现金流 - 资本支出 | $97.0M | $94.0M |
| 自由现金流率自由现金流/营收 | 3.6% | 1.6% |
| 资本支出强度资本支出/营收 | 4.7% | 8.7% |
| 现金转化率经营现金流/净利润 | 1.15× | — |
| 过去12个月自由现金流最近4个季度 | $687.0M | $553.0M |
8季度趋势，按日历期对齐
经营现金流CPBIP
| Q1 26 | — | — | ||
| Q4 25 | $224.0M | $905.0M | ||
| Q3 25 | $259.0M | $605.0M | ||
| Q2 25 | $135.0M | $476.0M | ||
| Q1 25 | $512.0M | $-288.0M | ||
| Q4 24 | $225.0M | $397.0M | ||
| Q3 24 | $288.0M | $521.0M | ||
| Q2 24 | $213.0M | $365.0M |
自由现金流CPBIP
| Q1 26 | — | $94.0M | ||
| Q4 25 | $97.0M | $255.0M | ||
| Q3 25 | $129.0M | $150.0M | ||
| Q2 25 | $50.0M | $54.0M | ||
| Q1 25 | $411.0M | $-618.0M | ||
| Q4 24 | $115.0M | $137.0M | ||
| Q3 24 | $147.0M | $309.0M | ||
| Q2 24 | $100.0M | $167.0M |
自由现金流率CPBIP
| Q1 26 | — | 1.6% | ||
| Q4 25 | 3.6% | 5.4% | ||
| Q3 25 | 5.6% | 2.4% | ||
| Q2 25 | 2.0% | 0.8% | ||
| Q1 25 | 15.3% | -10.5% | ||
| Q4 24 | 4.1% | 3.0% | ||
| Q3 24 | 6.4% | 6.6% | ||
| Q2 24 | 4.2% | 3.5% |
资本支出强度CPBIP
| Q1 26 | — | 8.7% | ||
| Q4 25 | 4.7% | 13.7% | ||
| Q3 25 | 5.6% | 7.3% | ||
| Q2 25 | 3.4% | 6.2% | ||
| Q1 25 | 3.8% | 5.6% | ||
| Q4 24 | 4.0% | 5.7% | ||
| Q3 24 | 6.1% | 4.5% | ||
| Q2 24 | 4.8% | 4.2% |
现金转化率CPBIP
| Q1 26 | — | — | ||
| Q4 25 | 1.15× | — | ||
| Q3 25 | 1.79× | — | ||
| Q2 25 | 2.05× | 6.35× | ||
| Q1 25 | 2.96× | — | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | — | 3.47× | ||
| Q2 24 | 1.60× | 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
CPB
| Baked Snacks | $995.0M | 37% |
| Snacks | $914.0M | 34% |
| Simple Meals | $580.0M | 22% |
| Beverages | $168.0M | 6% |
IP
| Packaging Solutions North America | $3.6B | 61% |
| Packaging Solutions EMEA | $2.3B | 39% |
| Corporate and Inter-segment Sales | $22.0M | 0% |
