vs
Enphase Energy（ENPH）与IMMERSION CORP（IMMR）财务数据对比。点击上方公司名可切换其他公司
IMMERSION CORP的季度营收约是Enphase Energy的1.3倍（$372.9M vs $282.9M），Enphase Energy净利率更高（-2.6% vs -4.6%，领先1.9%），IMMERSION CORP同比增速更快（750.4% vs -20.6%），过去两年IMMERSION CORP的营收复合增速更高（537.9% vs -3.4%）
Enphase Energy是总部位于美国加利福尼亚州弗里蒙特的能源科技企业，成立于2006年，是全球首家成功实现光伏微型逆变器商业化的企业，主要面向住宅用户研发生产光伏微型逆变器、储能电池及电动汽车充电桩。
Immersion Corporation总部位于佛罗里达州阿文图拉，主要研发并授权触觉反馈技术（即触感技术）。公司由路易斯·罗森伯格于1993年创立，目前由律师弗朗西斯·何塞掌管，他同时担任首席执行官与总法律顾问一职。
ENPH vs IMMR — 直观对比
营收规模更大
IMMR
是对方的1.3倍
$282.9M
营收增速更快
IMMR
高出771.0%
-20.6%
净利率更高
ENPH
高出1.9%
-4.6%
两年增速更快
IMMR
近两年复合增速
-3.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $282.9M | $372.9M |
| 净利润 | $-7.4M | $-17.0M |
| 毛利率 | 35.5% | — |
| 营业利润率 | — | -2.8% |
| 净利率 | -2.6% | -4.6% |
| 营收同比 | -20.6% | 750.4% |
| 净利润同比 | -124.9% | -191.3% |
| 每股收益（稀释后） | $-0.06 | $-0.57 |
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ENPHIMMR
| Q1 26 | $282.9M | — | ||
| Q4 25 | $343.3M | — | ||
| Q3 25 | $410.4M | — | ||
| Q2 25 | $363.2M | $372.9M | ||
| Q1 25 | $356.1M | $471.3M | ||
| Q4 24 | $382.7M | $616.2M | ||
| Q3 24 | $380.9M | — | ||
| Q2 24 | $303.5M | $95.5M |
净利润ENPHIMMR
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | — | ||
| Q3 25 | $66.6M | — | ||
| Q2 25 | $37.1M | $-17.0M | ||
| Q1 25 | $29.7M | $24.1M | ||
| Q4 24 | $62.2M | $30.8M | ||
| Q3 24 | $45.8M | — | ||
| Q2 24 | $10.8M | $26.4M |
毛利率ENPHIMMR
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | — | ||
| Q3 25 | 47.8% | — | ||
| Q2 25 | 46.9% | — | ||
| Q1 25 | 47.2% | — | ||
| Q4 24 | 51.8% | — | ||
| Q3 24 | 46.8% | — | ||
| Q2 24 | 45.2% | — |
营业利润率ENPHIMMR
| Q1 26 | — | — | ||
| Q4 25 | 6.5% | — | ||
| Q3 25 | 16.1% | — | ||
| Q2 25 | 10.2% | -2.8% | ||
| Q1 25 | 9.0% | 7.5% | ||
| Q4 24 | 14.3% | 11.4% | ||
| Q3 24 | 13.1% | — | ||
| Q2 24 | 0.6% | 23.7% |
净利率ENPHIMMR
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | — | ||
| Q3 25 | 16.2% | — | ||
| Q2 25 | 10.2% | -4.6% | ||
| Q1 25 | 8.3% | 5.1% | ||
| Q4 24 | 16.2% | 5.0% | ||
| Q3 24 | 12.0% | — | ||
| Q2 24 | 3.6% | 27.7% |
每股收益（稀释后）ENPHIMMR
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | — | ||
| Q3 25 | $0.50 | — | ||
| Q2 25 | $0.28 | $-0.57 | ||
| Q1 25 | $0.22 | $0.73 | ||
| Q4 24 | $0.46 | $0.93 | ||
| Q3 24 | $0.33 | — | ||
| Q2 24 | $0.08 | $0.81 |
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 | $497.5M | $161.4M |
| 总债务越低越好 | — | $103.1M |
| 股东权益账面价值 | $1.1B | $298.1M |
| 总资产 | $2.7B | $1.1B |
| 负债/权益比越低杠杆越低 | — | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资ENPHIMMR
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | $161.4M | ||
| Q1 25 | $1.5B | $153.9M | ||
| Q4 24 | $1.6B | $159.3M | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.6B | $133.4M |
总债务ENPHIMMR
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | $103.1M | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — |
股东权益ENPHIMMR
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $995.0M | — | ||
| Q2 25 | $880.6M | $298.1M | ||
| Q1 25 | $810.7M | $317.9M | ||
| Q4 24 | $833.0M | $305.5M | ||
| Q3 24 | $931.4M | — | ||
| Q2 24 | $884.5M | $273.4M |
总资产ENPHIMMR
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.2B | $1.1B | ||
| Q1 25 | $3.1B | $1.4B | ||
| Q4 24 | $3.2B | $1.4B | ||
| Q3 24 | $3.3B | — | ||
| Q2 24 | $3.2B | $1.2B |
负债/权益比ENPHIMMR
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | — | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 1.37× | 0.35× | ||
| Q1 25 | 1.48× | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 1.40× | — | ||
| Q2 24 | 1.47× | — |
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 | $102.9M | — |
| 自由现金流经营现金流 - 资本支出 | $83.0M | — |
| 自由现金流率自由现金流/营收 | 29.3% | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | $145.1M | — |
8季度趋势，按日历期对齐
经营现金流ENPHIMMR
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | — | ||
| Q3 25 | $13.9M | — | ||
| Q2 25 | $26.6M | — | ||
| Q1 25 | $48.4M | $-43.7M | ||
| Q4 24 | $167.3M | — | ||
| Q3 24 | $170.1M | — | ||
| Q2 24 | $127.1M | $-85.9M |
自由现金流ENPHIMMR
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | — | ||
| Q3 25 | $5.9M | — | ||
| Q2 25 | $18.4M | — | ||
| Q1 25 | $33.8M | $-46.2M | ||
| Q4 24 | $159.2M | — | ||
| Q3 24 | $161.6M | — | ||
| Q2 24 | $117.4M | — |
自由现金流率ENPHIMMR
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | 9.5% | -9.8% | ||
| Q4 24 | 41.6% | — | ||
| Q3 24 | 42.4% | — | ||
| Q2 24 | 38.7% | — |
资本支出强度ENPHIMMR
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | — | ||
| Q3 25 | 2.0% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 4.1% | 0.5% | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 2.2% | — | ||
| Q2 24 | 3.2% | — |
现金转化率ENPHIMMR
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | — | ||
| Q3 25 | 0.21× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 1.63× | -1.82× | ||
| Q4 24 | 2.69× | — | ||
| Q3 24 | 3.72× | — | ||
| Q2 24 | 11.73× | -3.25× |
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
ENPH
暂无分部数据
IMMR
| Course Material Sale | $150.9M | 40% |
| General Merchandise Sale | $138.0M | 37% |
| Rental Services | $51.8M | 14% |
| Services And Other Revenue | $25.6M | 7% |
| Per Unit Royalties | $1.8M | 0% |
