vs
伊士曼化工（EMN）与华纳音乐集团（WMG）财务数据对比。点击上方公司名可切换其他公司
伊士曼化工的季度营收约是华纳音乐集团的1.1倍（$2.0B vs $1.8B），华纳音乐集团净利率更高（9.6% vs 5.3%，领先4.2%），华纳音乐集团同比增速更快（10.4% vs -13.8%），过去两年华纳音乐集团的营收复合增速更高（11.0% vs -8.6%）
伊士曼化工是总部位于美国田纳西州金斯波特的全球特种材料企业，前身为柯达子公司，1920年成立，1994年独立运营。公司在全球拥有36个生产基地、约1.4万名员工，生产各类先进材料、化学品和纤维产品，广泛应用于日常生活领域，2023年销售额约92.1亿美元。
华纳音乐集团（简称WMG）是总部位于美国纽约的跨国娱乐及唱片集团，属于全球唱片行业“三大巨头”之一，市场规模位居全球音乐行业第三位，仅次于环球音乐集团与索尼音乐娱乐。
EMN vs WMG — 直观对比
营收规模更大
EMN
是对方的1.1倍
$1.8B
营收增速更快
WMG
高出24.3%
-13.8%
净利率更高
WMG
高出4.2%
5.3%
两年增速更快
WMG
近两年复合增速
-8.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.8B |
| 净利润 | $105.0M | $176.0M |
| 毛利率 | 17.1% | 46.4% |
| 营业利润率 | — | 15.7% |
| 净利率 | 5.3% | 9.6% |
| 营收同比 | -13.8% | 10.4% |
| 净利润同比 | -42.3% | -25.4% |
| 每股收益（稀释后） | $0.93 | — |
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EMNWMG
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $1.8B | ||
| Q3 25 | $2.2B | $1.9B | ||
| Q2 25 | $2.3B | $1.7B | ||
| Q1 25 | $2.3B | $1.5B | ||
| Q4 24 | $2.2B | $1.7B | ||
| Q3 24 | $2.5B | $1.6B | ||
| Q2 24 | $2.4B | $1.6B |
净利润EMNWMG
| Q1 26 | $105.0M | — | ||
| Q4 25 | $105.0M | $176.0M | ||
| Q3 25 | $47.0M | $109.0M | ||
| Q2 25 | $140.0M | $-16.0M | ||
| Q1 25 | $182.0M | $36.0M | ||
| Q4 24 | $330.0M | $236.0M | ||
| Q3 24 | $180.0M | $41.0M | ||
| Q2 24 | $230.0M | $139.0M |
毛利率EMNWMG
| Q1 26 | 17.1% | — | ||
| Q4 25 | 17.1% | 46.4% | ||
| Q3 25 | 19.7% | 44.6% | ||
| Q2 25 | 22.1% | 45.9% | ||
| Q1 25 | 24.8% | 46.7% | ||
| Q4 24 | 24.7% | 46.3% | ||
| Q3 24 | 24.6% | 47.6% | ||
| Q2 24 | 25.3% | 46.6% |
营业利润率EMNWMG
| Q1 26 | — | — | ||
| Q4 25 | 0.6% | 15.7% | ||
| Q3 25 | 6.1% | 7.7% | ||
| Q2 25 | 7.4% | 10.0% | ||
| Q1 25 | 11.0% | 11.3% | ||
| Q4 24 | 13.2% | 12.8% | ||
| Q3 24 | 11.4% | 8.8% | ||
| Q2 24 | 12.1% | 13.3% |
净利率EMNWMG
| Q1 26 | 5.3% | — | ||
| Q4 25 | 5.3% | 9.6% | ||
| Q3 25 | 2.1% | 5.8% | ||
| Q2 25 | 6.1% | -0.9% | ||
| Q1 25 | 7.9% | 2.4% | ||
| Q4 24 | 14.7% | 14.2% | ||
| Q3 24 | 7.3% | 2.5% | ||
| Q2 24 | 9.7% | 8.9% |
每股收益（稀释后）EMNWMG
| Q1 26 | $0.93 | — | ||
| Q4 25 | $0.93 | — | ||
| Q3 25 | $0.40 | — | ||
| Q2 25 | $1.20 | — | ||
| Q1 25 | $1.57 | — | ||
| Q4 24 | $2.81 | — | ||
| Q3 24 | $1.53 | — | ||
| Q2 24 | $1.94 | — |
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 | $566.0M | $751.0M |
| 总债务越低越好 | — | $4.4B |
| 股东权益账面价值 | $6.0B | $720.0M |
| 总资产 | $14.9B | $10.0B |
| 负债/权益比越低杠杆越低 | — | 6.07× |
8季度趋势，按日历期对齐
现金及短期投资EMNWMG
| Q1 26 | $566.0M | — | ||
| Q4 25 | $566.0M | $751.0M | ||
| Q3 25 | — | $532.0M | ||
| Q2 25 | — | $527.0M | ||
| Q1 25 | — | $637.0M | ||
| Q4 24 | $837.0M | $802.0M | ||
| Q3 24 | — | $694.0M | ||
| Q2 24 | — | $607.0M |
总债务EMNWMG
| Q1 26 | — | — | ||
| Q4 25 | — | $4.4B | ||
| Q3 25 | — | $4.4B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.0B |
股东权益EMNWMG
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.0B | $720.0M | ||
| Q3 25 | $5.8B | $647.0M | ||
| Q2 25 | $5.8B | $589.0M | ||
| Q1 25 | $5.9B | $567.0M | ||
| Q4 24 | $5.8B | $545.0M | ||
| Q3 24 | $5.7B | $518.0M | ||
| Q2 24 | $5.6B | $483.0M |
总资产EMNWMG
| Q1 26 | $14.9B | — | ||
| Q4 25 | $14.9B | $10.0B | ||
| Q3 25 | $15.0B | $9.8B | ||
| Q2 25 | $15.2B | $9.8B | ||
| Q1 25 | $15.0B | $9.6B | ||
| Q4 24 | $15.2B | $9.1B | ||
| Q3 24 | $15.1B | $9.2B | ||
| Q2 24 | $14.9B | $8.8B |
负债/权益比EMNWMG
| Q1 26 | — | — | ||
| Q4 25 | — | 6.07× | ||
| Q3 25 | — | 6.75× | ||
| Q2 25 | — | 7.41× | ||
| Q1 25 | — | 7.57× | ||
| Q4 24 | — | 7.26× | ||
| Q3 24 | — | 7.75× | ||
| Q2 24 | — | 8.24× |
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 | — | $440.0M |
| 自由现金流经营现金流 - 资本支出 | — | $420.0M |
| 自由现金流率自由现金流/营收 | — | 22.8% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 现金转化率经营现金流/净利润 | — | 2.50× |
| 过去12个月自由现金流最近4个季度 | — | $663.0M |
8季度趋势，按日历期对齐
经营现金流EMNWMG
| Q1 26 | — | — | ||
| Q4 25 | $502.0M | $440.0M | ||
| Q3 25 | $402.0M | $231.0M | ||
| Q2 25 | $233.0M | $46.0M | ||
| Q1 25 | $-167.0M | $69.0M | ||
| Q4 24 | $540.0M | $332.0M | ||
| Q3 24 | $396.0M | $304.0M | ||
| Q2 24 | $367.0M | $188.0M |
自由现金流EMNWMG
| Q1 26 | — | — | ||
| Q4 25 | $390.0M | $420.0M | ||
| Q3 25 | $265.0M | $203.0M | ||
| Q2 25 | $83.0M | $7.0M | ||
| Q1 25 | $-314.0M | $33.0M | ||
| Q4 24 | $361.0M | $296.0M | ||
| Q3 24 | $276.0M | $271.0M | ||
| Q2 24 | $252.0M | $160.0M |
自由现金流率EMNWMG
| Q1 26 | — | — | ||
| Q4 25 | 19.8% | 22.8% | ||
| Q3 25 | 12.0% | 10.9% | ||
| Q2 25 | 3.6% | 0.4% | ||
| Q1 25 | -13.7% | 2.2% | ||
| Q4 24 | 16.1% | 17.8% | ||
| Q3 24 | 11.2% | 16.6% | ||
| Q2 24 | 10.7% | 10.3% |
资本支出强度EMNWMG
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | 1.1% | ||
| Q3 25 | 6.2% | 1.5% | ||
| Q2 25 | 6.6% | 2.3% | ||
| Q1 25 | 6.4% | 2.4% | ||
| Q4 24 | 8.0% | 2.2% | ||
| Q3 24 | 4.9% | 2.0% | ||
| Q2 24 | 4.9% | 1.8% |
现金转化率EMNWMG
| Q1 26 | — | — | ||
| Q4 25 | 4.78× | 2.50× | ||
| Q3 25 | 8.55× | 2.12× | ||
| Q2 25 | 1.66× | — | ||
| Q1 25 | -0.92× | 1.92× | ||
| Q4 24 | 1.64× | 1.41× | ||
| Q3 24 | 2.20× | 7.41× | ||
| Q2 24 | 1.60× | 1.35× |
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
EMN
暂无分部数据
WMG
| Digital | $976.0M | 53% |
| Music Publishing | $362.0M | 20% |
| Artist Services And Expanded Rights | $231.0M | 13% |
| Licensing | $121.0M | 7% |
| Performance | $64.0M | 3% |
| Synchronization | $60.0M | 3% |
| Mechanical | $18.0M | 1% |
| Other | $5.0M | 0% |
