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艾默生（EMR）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艾默生的1.3倍（$6.0B vs $4.6B），艾默生净利率更高（13.5% vs 1.0%，领先12.5%），艾默生同比增速更快（3.0% vs -0.6%），艾默生自由现金流更多（$694.0M vs $94.0M），过去两年国际纸业的营收复合增速更高（12.3% vs -0.6%）
艾默生是总部位于美国密苏里州圣路易斯的世界500强跨国企业，业务涵盖工业自动化设备、暖通控制系统、精密测量仪器的研发制造，同时面向工业、商业、消费级市场提供工程服务及对应软件工程解决方案。
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。
EMR vs IP — 直观对比
营收规模更大
IP
是对方的1.3倍
$4.6B
营收增速更快
EMR
高出3.6%
-0.6%
净利率更高
EMR
高出12.5%
1.0%
自由现金流更多
EMR
多$600.0M
$94.0M
两年增速更快
IP
近两年复合增速
-0.6%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.6B | $6.0B |
| 净利润 | $618.0M | $60.0M |
| 毛利率 | 53.1% | — |
| 营业利润率 | — | — |
| 净利率 | 13.5% | 1.0% |
| 营收同比 | 3.0% | -0.6% |
| 净利润同比 | 43.7% | 157.1% |
| 每股收益（稀释后） | $1.10 | $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EMRIP
| Q2 26 | $4.6B | — | ||
| Q1 26 | $4.3B | $6.0B | ||
| Q4 25 | $4.3B | $4.7B | ||
| Q3 25 | $4.9B | $6.2B | ||
| Q2 25 | $4.6B | $6.8B | ||
| Q1 25 | $4.4B | $5.9B | ||
| Q4 24 | $4.2B | $4.6B | ||
| Q3 24 | $4.6B | $4.7B |
净利润EMRIP
| Q2 26 | $618.0M | — | ||
| Q1 26 | $606.0M | $60.0M | ||
| Q4 25 | $605.0M | $-2.4B | ||
| Q3 25 | $637.0M | $-1.1B | ||
| Q2 25 | $586.0M | $75.0M | ||
| Q1 25 | $485.0M | $-105.0M | ||
| Q4 24 | $585.0M | $-147.0M | ||
| Q3 24 | $996.0M | $150.0M |
毛利率EMRIP
| Q2 26 | 53.1% | — | ||
| Q1 26 | 53.2% | — | ||
| Q4 25 | 53.2% | 32.2% | ||
| Q3 25 | 51.9% | 31.1% | ||
| Q2 25 | 52.6% | 27.9% | ||
| Q1 25 | 53.5% | 27.8% | ||
| Q4 24 | 53.5% | 29.0% | ||
| Q3 24 | 51.3% | 28.7% |
营业利润率EMRIP
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 17.8% | -56.4% | ||
| Q3 25 | 16.4% | -10.8% | ||
| Q2 25 | 16.1% | 1.7% | ||
| Q1 25 | 14.2% | -2.3% | ||
| Q4 24 | 18.6% | -4.9% | ||
| Q3 24 | 14.7% | 5.1% |
净利率EMRIP
| Q2 26 | 13.5% | — | ||
| Q1 26 | 13.9% | 1.0% | ||
| Q4 25 | 13.9% | -50.3% | ||
| Q3 25 | 13.1% | -17.7% | ||
| Q2 25 | 12.9% | 1.1% | ||
| Q1 25 | 10.9% | -1.8% | ||
| Q4 24 | 14.0% | -3.2% | ||
| Q3 24 | 21.6% | 3.2% |
每股收益（稀释后）EMRIP
| Q2 26 | $1.10 | — | ||
| Q1 26 | $1.07 | $0.14 | ||
| Q4 25 | $1.07 | $-4.76 | ||
| Q3 25 | $1.12 | $-2.09 | ||
| Q2 25 | $1.04 | $0.14 | ||
| Q1 25 | $0.86 | $-0.24 | ||
| Q4 24 | $1.02 | $-0.42 | ||
| Q3 24 | $1.74 | $0.42 |
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 | $1.8B | — |
| 总债务越低越好 | $13.4B | $8.2B |
| 股东权益账面价值 | $20.3B | $14.8B |
| 总资产 | $42.1B | $36.4B |
| 负债/权益比越低杠杆越低 | 0.66× | 0.55× |
8季度趋势，按日历期对齐
现金及短期投资EMRIP
| Q2 26 | $1.8B | — | ||
| Q1 26 | $1.7B | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $995.0M | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.2B |
总债务EMRIP
| Q2 26 | $13.4B | — | ||
| Q1 26 | $13.4B | $8.2B | ||
| Q4 25 | $7.6B | $8.8B | ||
| Q3 25 | $8.9B | $9.0B | ||
| Q2 25 | $8.3B | $9.7B | ||
| Q1 25 | $8.2B | $9.2B | ||
| Q4 24 | $6.6B | $5.4B | ||
| Q3 24 | $7.7B | $5.3B |
股东权益EMRIP
| Q2 26 | $20.3B | — | ||
| Q1 26 | $20.3B | $14.8B | ||
| Q4 25 | $20.3B | $14.8B | ||
| Q3 25 | $20.3B | $17.3B | ||
| Q2 25 | $19.9B | $18.6B | ||
| Q1 25 | $19.2B | $18.1B | ||
| Q4 24 | $20.5B | $8.2B | ||
| Q3 24 | $21.6B | $8.6B |
总资产EMRIP
| Q2 26 | $42.1B | — | ||
| Q1 26 | $41.9B | $36.4B | ||
| Q4 25 | $41.9B | $38.0B | ||
| Q3 25 | $42.0B | $40.6B | ||
| Q2 25 | $42.5B | $42.4B | ||
| Q1 25 | $42.0B | $41.2B | ||
| Q4 24 | $42.6B | $22.8B | ||
| Q3 24 | $44.2B | $23.2B |
负债/权益比EMRIP
| Q2 26 | 0.66× | — | ||
| Q1 26 | 0.66× | 0.55× | ||
| Q4 25 | 0.37× | 0.60× | ||
| Q3 25 | 0.44× | 0.52× | ||
| Q2 25 | 0.42× | 0.52× | ||
| Q1 25 | 0.42× | 0.51× | ||
| Q4 24 | 0.32× | 0.66× | ||
| Q3 24 | 0.36× | 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 | — | — |
| 自由现金流经营现金流 - 资本支出 | $694.0M | $94.0M |
| 自由现金流率自由现金流/营收 | 15.2% | 1.6% |
| 资本支出强度资本支出/营收 | 4.0% | 8.7% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $4.6B | $553.0M |
8季度趋势，按日历期对齐
经营现金流EMRIP
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $699.0M | $905.0M | ||
| Q3 25 | $3.1B | $605.0M | ||
| Q2 25 | $1.1B | $476.0M | ||
| Q1 25 | $241.0M | $-288.0M | ||
| Q4 24 | $777.0M | $397.0M | ||
| Q3 24 | $3.3B | $521.0M |
自由现金流EMRIP
| Q2 26 | $694.0M | — | ||
| Q1 26 | $602.0M | $94.0M | ||
| Q4 25 | $602.0M | $255.0M | ||
| Q3 25 | $2.7B | $150.0M | ||
| Q2 25 | $977.0M | $54.0M | ||
| Q1 25 | $154.0M | $-618.0M | ||
| Q4 24 | $694.0M | $137.0M | ||
| Q3 24 | $2.9B | $309.0M |
自由现金流率EMRIP
| Q2 26 | 15.2% | — | ||
| Q1 26 | 13.9% | 1.6% | ||
| Q4 25 | 13.9% | 5.4% | ||
| Q3 25 | 54.9% | 2.4% | ||
| Q2 25 | 21.5% | 0.8% | ||
| Q1 25 | 3.5% | -10.5% | ||
| Q4 24 | 16.6% | 3.0% | ||
| Q3 24 | 63.1% | 6.6% |
资本支出强度EMRIP
| Q2 26 | 4.0% | — | ||
| Q1 26 | 2.2% | 8.7% | ||
| Q4 25 | 2.2% | 13.7% | ||
| Q3 25 | 8.9% | 7.3% | ||
| Q2 25 | 2.0% | 6.2% | ||
| Q1 25 | 2.0% | 5.6% | ||
| Q4 24 | 2.0% | 5.7% | ||
| Q3 24 | 9.1% | 4.5% |
现金转化率EMRIP
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.16× | — | ||
| Q3 25 | 4.86× | — | ||
| Q2 25 | 1.83× | 6.35× | ||
| Q1 25 | 0.50× | — | ||
| Q4 24 | 1.33× | — | ||
| Q3 24 | 3.35× | 3.47× |
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
EMR
暂无分部数据
IP
| Packaging Solutions North America | $3.6B | 61% |
| Packaging Solutions EMEA | $2.3B | 39% |
| Corporate and Inter-segment Sales | $22.0M | 0% |
