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Deckers Brands（DECK）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Deckers Brands的1.1倍（$2.1B vs $2.0B），Deckers Brands净利率更高（24.6% vs 5.8%，领先18.8%），Deckers Brands同比增速更快（7.1% vs -4.8%），Deckers Brands自由现金流更多（$1.0B vs $153.6M），过去两年Deckers Brands的营收复合增速更高（42.8% vs -9.1%）
Deckers Brands是1973年成立的美国鞋履设计与分销企业，总部位于加利福尼亚州戈利塔，由道格·奥托与卡尔·F·洛普克共同创立。公司旗下拥有UGG、Teva、Hoka等全球知名鞋履品牌，产品覆盖休闲、户外等多个领域，销往世界多地。
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。
DECK vs IPG — 直观对比
营收规模更大
IPG
是对方的1.1倍
$2.0B
营收增速更快
DECK
高出11.9%
-4.8%
净利率更高
DECK
高出18.8%
5.8%
自由现金流更多
DECK
多$866.7M
$153.6M
两年增速更快
DECK
近两年复合增速
-9.1%
损益表 — Q3 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $2.1B |
| 净利润 | $481.1M | $124.2M |
| 毛利率 | 59.8% | — |
| 营业利润率 | 31.4% | 10.3% |
| 净利率 | 24.6% | 5.8% |
| 营收同比 | 7.1% | -4.8% |
| 净利润同比 | 5.3% | 517.9% |
| 每股收益（稀释后） | $3.33 | $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DECKIPG
| Q4 25 | $2.0B | — | ||
| Q3 25 | $1.4B | $2.1B | ||
| Q2 25 | $964.5M | $2.2B | ||
| Q1 25 | $1.0B | $2.0B | ||
| Q4 24 | $1.8B | $2.4B | ||
| Q3 24 | $1.3B | $2.2B | ||
| Q2 24 | $825.3M | $2.3B | ||
| Q1 24 | $959.8M | $2.2B |
净利润DECKIPG
| Q4 25 | $481.1M | — | ||
| Q3 25 | $268.2M | $124.2M | ||
| Q2 25 | $139.2M | $162.5M | ||
| Q1 25 | $151.4M | $-85.4M | ||
| Q4 24 | $456.7M | $344.5M | ||
| Q3 24 | $242.3M | $20.1M | ||
| Q2 24 | $115.6M | $214.5M | ||
| Q1 24 | $127.5M | $110.4M |
毛利率DECKIPG
| Q4 25 | 59.8% | — | ||
| Q3 25 | 56.2% | — | ||
| Q2 25 | 55.8% | — | ||
| Q1 25 | 56.7% | -3.2% | ||
| Q4 24 | 60.3% | 10.1% | ||
| Q3 24 | 55.9% | 2.9% | ||
| Q2 24 | 56.9% | 1.2% | ||
| Q1 24 | 56.2% | -1.1% |
营业利润率DECKIPG
| Q4 25 | 31.4% | — | ||
| Q3 25 | 22.8% | 10.3% | ||
| Q2 25 | 17.1% | 11.2% | ||
| Q1 25 | 17.0% | -2.1% | ||
| Q4 24 | 31.0% | 23.3% | ||
| Q3 24 | 23.3% | 5.9% | ||
| Q2 24 | 16.1% | 13.7% | ||
| Q1 24 | 15.0% | 8.4% |
净利率DECKIPG
| Q4 25 | 24.6% | — | ||
| Q3 25 | 18.7% | 5.8% | ||
| Q2 25 | 14.4% | 7.5% | ||
| Q1 25 | 14.8% | -4.3% | ||
| Q4 24 | 25.0% | 14.1% | ||
| Q3 24 | 18.5% | 0.9% | ||
| Q2 24 | 14.0% | 9.2% | ||
| Q1 24 | 13.3% | 5.1% |
每股收益（稀释后）DECKIPG
| Q4 25 | $3.33 | — | ||
| Q3 25 | $1.82 | $0.34 | ||
| Q2 25 | $0.93 | $0.44 | ||
| Q1 25 | $-2.78 | $-0.23 | ||
| Q4 24 | $3.00 | $0.92 | ||
| Q3 24 | $1.59 | $0.05 | ||
| Q2 24 | $4.52 | $0.57 | ||
| Q1 24 | $4.82 | $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 | $2.1B | $1.5B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $3.7B |
| 总资产 | $4.1B | $17.0B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DECKIPG
| Q4 25 | $2.1B | — | ||
| Q3 25 | $1.4B | $1.5B | ||
| Q2 25 | $1.7B | $1.6B | ||
| Q1 25 | $1.9B | $1.9B | ||
| Q4 24 | $2.2B | $2.2B | ||
| Q3 24 | $1.2B | $1.5B | ||
| Q2 24 | $1.4B | $1.5B | ||
| Q1 24 | $1.5B | $1.9B |
股东权益DECKIPG
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.5B | $3.7B | ||
| Q2 25 | $2.5B | $3.7B | ||
| Q1 25 | $2.5B | $3.6B | ||
| Q4 24 | $2.6B | $3.8B | ||
| Q3 24 | $2.2B | $3.7B | ||
| Q2 24 | $2.1B | $3.8B | ||
| Q1 24 | $2.1B | $3.8B |
总资产DECKIPG
| Q4 25 | $4.1B | — | ||
| Q3 25 | $3.8B | $17.0B | ||
| Q2 25 | $3.8B | $17.0B | ||
| Q1 25 | $3.6B | $17.1B | ||
| Q4 24 | $4.0B | $18.3B | ||
| Q3 24 | $3.4B | $17.1B | ||
| Q2 24 | $3.3B | $17.0B | ||
| Q1 24 | $3.1B | $17.3B |
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 | $1.0B | $180.1M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $153.6M |
| 自由现金流率自由现金流/营收 | 52.1% | 7.2% |
| 资本支出强度资本支出/营收 | 1.1% | 1.2% |
| 现金转化率经营现金流/净利润 | 2.17× | 1.45× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $806.8M |
8季度趋势，按日历期对齐
经营现金流DECKIPG
| Q4 25 | $1.0B | — | ||
| Q3 25 | $8.1M | $180.1M | ||
| Q2 25 | $36.1M | $-96.0M | ||
| Q1 25 | $-73.0M | $-37.0M | ||
| Q4 24 | $1.1B | $868.1M | ||
| Q3 24 | $-90.5M | $223.8M | ||
| Q2 24 | $112.7M | $120.7M | ||
| Q1 24 | $-28.7M | $-157.4M |
自由现金流DECKIPG
| Q4 25 | $1.0B | — | ||
| Q3 25 | $-13.9M | $153.6M | ||
| Q2 25 | $12.2M | $-121.8M | ||
| Q1 25 | $-89.4M | $-58.5M | ||
| Q4 24 | $1.1B | $833.5M | ||
| Q3 24 | $-113.4M | $186.5M | ||
| Q2 24 | $90.1M | $85.9M | ||
| Q1 24 | $-44.0M | $-192.5M |
自由现金流率DECKIPG
| Q4 25 | 52.1% | — | ||
| Q3 25 | -1.0% | 7.2% | ||
| Q2 25 | 1.3% | -5.6% | ||
| Q1 25 | -8.8% | -2.9% | ||
| Q4 24 | 58.6% | 34.2% | ||
| Q3 24 | -8.6% | 8.3% | ||
| Q2 24 | 10.9% | 3.7% | ||
| Q1 24 | -4.6% | -8.8% |
资本支出强度DECKIPG
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.5% | 1.2% | ||
| Q2 25 | 2.5% | 1.2% | ||
| Q1 25 | 1.6% | 1.1% | ||
| Q4 24 | 1.3% | 1.4% | ||
| Q3 24 | 1.7% | 1.7% | ||
| Q2 24 | 2.7% | 1.5% | ||
| Q1 24 | 1.6% | 1.6% |
现金转化率DECKIPG
| Q4 25 | 2.17× | — | ||
| Q3 25 | 0.03× | 1.45× | ||
| Q2 25 | 0.26× | -0.59× | ||
| Q1 25 | -0.48× | — | ||
| Q4 24 | 2.40× | 2.52× | ||
| Q3 24 | -0.37× | 11.13× | ||
| Q2 24 | 0.97× | 0.56× | ||
| Q1 24 | -0.22× | -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
DECK
| UGG Brand Segment | $1.3B | 67% |
| Hoka Brand Segment | $628.9M | 32% |
| Other Brands Segment | $23.2M | 1% |
IPG
| MDE | $619.0M | 29% |
| IAC | $574.9M | 27% |
| Other | $527.9M | 25% |
| SCE | $413.8M | 19% |
