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Expeditors International（EXPD）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
Expeditors International的季度营收约是埃培智集团的1.3倍（$2.9B vs $2.1B），Expeditors International净利率更高（7.0% vs 5.8%，领先1.2%），Expeditors International同比增速更快（-3.3% vs -4.8%），Expeditors International自由现金流更多（$270.3M vs $153.6M），过去两年Expeditors International的营收复合增速更高（13.8% vs -9.1%）
美国财富500强物流服务企业，总部位于华盛顿州贝尔维尤，依托覆盖六大洲100余个国家超340个网点的全球网络及统一集成的技术系统，为客户提供高度优化的定制化供应链解决方案。
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。
EXPD vs IPG — 直观对比
营收规模更大
EXPD
是对方的1.3倍
$2.1B
营收增速更快
EXPD
高出1.4%
-4.8%
净利率更高
EXPD
高出1.2%
5.8%
自由现金流更多
EXPD
多$116.7M
$153.6M
两年增速更快
EXPD
近两年复合增速
-9.1%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $2.1B |
| 净利润 | $200.7M | $124.2M |
| 毛利率 | — | — |
| 营业利润率 | 8.8% | 10.3% |
| 净利率 | 7.0% | 5.8% |
| 营收同比 | -3.3% | -4.8% |
| 净利润同比 | -14.9% | 517.9% |
| 每股收益（稀释后） | $1.50 | $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EXPDIPG
| Q4 25 | $2.9B | — | ||
| Q3 25 | $2.9B | $2.1B | ||
| Q2 25 | $2.7B | $2.2B | ||
| Q1 25 | $2.7B | $2.0B | ||
| Q4 24 | $3.0B | $2.4B | ||
| Q3 24 | $3.0B | $2.2B | ||
| Q2 24 | $2.4B | $2.3B | ||
| Q1 24 | $2.2B | $2.2B |
净利润EXPDIPG
| Q4 25 | $200.7M | — | ||
| Q3 25 | $222.3M | $124.2M | ||
| Q2 25 | $183.6M | $162.5M | ||
| Q1 25 | $203.8M | $-85.4M | ||
| Q4 24 | $235.9M | $344.5M | ||
| Q3 24 | $229.6M | $20.1M | ||
| Q2 24 | $175.5M | $214.5M | ||
| Q1 24 | $169.2M | $110.4M |
毛利率EXPDIPG
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -3.2% | ||
| Q4 24 | — | 10.1% | ||
| Q3 24 | — | 2.9% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | -1.1% |
营业利润率EXPDIPG
| Q4 25 | 8.8% | — | ||
| Q3 25 | 10.0% | 10.3% | ||
| Q2 25 | 9.3% | 11.2% | ||
| Q1 25 | 10.0% | -2.1% | ||
| Q4 24 | 10.2% | 23.3% | ||
| Q3 24 | 10.1% | 5.9% | ||
| Q2 24 | 9.2% | 13.7% | ||
| Q1 24 | 9.7% | 8.4% |
净利率EXPDIPG
| Q4 25 | 7.0% | — | ||
| Q3 25 | 7.7% | 5.8% | ||
| Q2 25 | 6.9% | 7.5% | ||
| Q1 25 | 7.6% | -4.3% | ||
| Q4 24 | 8.0% | 14.1% | ||
| Q3 24 | 7.7% | 0.9% | ||
| Q2 24 | 7.2% | 9.2% | ||
| Q1 24 | 7.7% | 5.1% |
每股收益（稀释后）EXPDIPG
| Q4 25 | $1.50 | — | ||
| Q3 25 | $1.64 | $0.34 | ||
| Q2 25 | $1.34 | $0.44 | ||
| Q1 25 | $1.47 | $-0.23 | ||
| Q4 24 | $1.68 | $0.92 | ||
| Q3 24 | $1.63 | $0.05 | ||
| Q2 24 | $1.24 | $0.57 | ||
| Q1 24 | $1.17 | $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 | $1.3B | $1.5B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.4B | $3.7B |
| 总资产 | $4.9B | $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EXPDIPG
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.2B | $1.5B | ||
| Q2 25 | $1.2B | $1.6B | ||
| Q1 25 | $1.3B | $1.9B | ||
| Q4 24 | $1.1B | $2.2B | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $1.3B | $1.5B | ||
| Q1 24 | $1.4B | $1.9B |
股东权益EXPDIPG
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.3B | $3.7B | ||
| Q2 25 | $2.2B | $3.7B | ||
| Q1 25 | $2.3B | $3.6B | ||
| Q4 24 | $2.2B | $3.8B | ||
| Q3 24 | $2.4B | $3.7B | ||
| Q2 24 | $2.2B | $3.8B | ||
| Q1 24 | $2.2B | $3.8B |
总资产EXPDIPG
| Q4 25 | $4.9B | — | ||
| Q3 25 | $4.8B | $17.0B | ||
| Q2 25 | $4.8B | $17.0B | ||
| Q1 25 | $4.8B | $17.1B | ||
| Q4 24 | $4.8B | $18.3B | ||
| Q3 24 | $5.2B | $17.1B | ||
| Q2 24 | $4.8B | $17.0B | ||
| Q1 24 | $4.5B | $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 | $283.3M | $180.1M |
| 自由现金流经营现金流 - 资本支出 | $270.3M | $153.6M |
| 自由现金流率自由现金流/营收 | 9.5% | 7.2% |
| 资本支出强度资本支出/营收 | 0.5% | 1.2% |
| 现金转化率经营现金流/净利润 | 1.41× | 1.45× |
| 过去12个月自由现金流最近4个季度 | $953.4M | $806.8M |
8季度趋势，按日历期对齐
经营现金流EXPDIPG
| Q4 25 | $283.3M | — | ||
| Q3 25 | $201.4M | $180.1M | ||
| Q2 25 | $179.2M | $-96.0M | ||
| Q1 25 | $342.6M | $-37.0M | ||
| Q4 24 | $249.7M | $868.1M | ||
| Q3 24 | $90.0M | $223.8M | ||
| Q2 24 | $126.8M | $120.7M | ||
| Q1 24 | $256.9M | $-157.4M |
自由现金流EXPDIPG
| Q4 25 | $270.3M | — | ||
| Q3 25 | $190.3M | $153.6M | ||
| Q2 25 | $163.3M | $-121.8M | ||
| Q1 25 | $329.5M | $-58.5M | ||
| Q4 24 | $239.7M | $833.5M | ||
| Q3 24 | $77.7M | $186.5M | ||
| Q2 24 | $118.8M | $85.9M | ||
| Q1 24 | $246.7M | $-192.5M |
自由现金流率EXPDIPG
| Q4 25 | 9.5% | — | ||
| Q3 25 | 6.6% | 7.2% | ||
| Q2 25 | 6.2% | -5.6% | ||
| Q1 25 | 12.4% | -2.9% | ||
| Q4 24 | 8.1% | 34.2% | ||
| Q3 24 | 2.6% | 8.3% | ||
| Q2 24 | 4.9% | 3.7% | ||
| Q1 24 | 11.2% | -8.8% |
资本支出强度EXPDIPG
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.4% | 1.2% | ||
| Q2 25 | 0.6% | 1.2% | ||
| Q1 25 | 0.5% | 1.1% | ||
| Q4 24 | 0.3% | 1.4% | ||
| Q3 24 | 0.4% | 1.7% | ||
| Q2 24 | 0.3% | 1.5% | ||
| Q1 24 | 0.5% | 1.6% |
现金转化率EXPDIPG
| Q4 25 | 1.41× | — | ||
| Q3 25 | 0.91× | 1.45× | ||
| Q2 25 | 0.98× | -0.59× | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 1.06× | 2.52× | ||
| Q3 24 | 0.39× | 11.13× | ||
| Q2 24 | 0.72× | 0.56× | ||
| Q1 24 | 1.52× | -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
EXPD
| Customs Brokerage And Other Services | $1.1B | 40% |
| Airfreight Services | $1.1B | 39% |
| Ocean Freight And Ocean Services | $611.4M | 21% |
IPG
| MDE | $619.0M | 29% |
| IAC | $574.9M | 27% |
| Other | $527.9M | 25% |
| SCE | $413.8M | 19% |
