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FirstCash Holdings, Inc.（FCFS）与IPG PHOTONICS CORP（IPGP）财务数据对比。点击上方公司名可切换其他公司
FirstCash Holdings, Inc.的季度营收约是IPG PHOTONICS CORP的1.8倍（$501.3M vs $274.5M），FirstCash Holdings, Inc.净利率更高（20.8% vs 4.8%，领先15.9%），FirstCash Holdings, Inc.同比增速更快（21.2% vs 17.1%），过去两年FirstCash Holdings, Inc.的营收复合增速更高（16.9% vs 4.4%）
FirstCash Holdings, Inc.是总部位于美国得克萨斯州沃斯堡的典当企业，在美国及拉丁美洲多地运营线下典当零售门店，为纳斯达克证券交易所公开上市企业，在美洲典当服务领域拥有成熟的业务布局与完善的运营网络。
IPG光电是全球领先的光纤激光器制造商，率先实现光纤激光器的技术研发与商业化落地，产品广泛应用于材料加工、医疗、电信等多元领域，在美国、德国、俄罗斯、意大利均设有生产基地，为全球各行业客户提供高性能的激光解决方案。
FCFS vs IPGP — 直观对比
营收规模更大
FCFS
是对方的1.8倍
$274.5M
营收增速更快
FCFS
高出4.0%
17.1%
净利率更高
FCFS
高出15.9%
4.8%
两年增速更快
FCFS
近两年复合增速
4.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $501.3M | $274.5M |
| 净利润 | $104.2M | $13.3M |
| 毛利率 | — | 36.1% |
| 营业利润率 | 28.5% | 1.2% |
| 净利率 | 20.8% | 4.8% |
| 营收同比 | 21.2% | 17.1% |
| 净利润同比 | 24.7% | 69.8% |
| 每股收益（稀释后） | $2.35 | $0.30 |
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FCFSIPGP
| Q4 25 | $501.3M | $274.5M | ||
| Q3 25 | $411.0M | $250.8M | ||
| Q2 25 | $385.1M | $250.7M | ||
| Q1 25 | $371.1M | $227.8M | ||
| Q4 24 | $413.7M | $234.3M | ||
| Q3 24 | $363.1M | $233.1M | ||
| Q2 24 | $363.5M | $257.6M | ||
| Q1 24 | $366.8M | $252.0M |
净利润FCFSIPGP
| Q4 25 | $104.2M | $13.3M | ||
| Q3 25 | $82.8M | $7.5M | ||
| Q2 25 | $59.8M | $6.6M | ||
| Q1 25 | $83.6M | $3.8M | ||
| Q4 24 | $83.5M | $7.8M | ||
| Q3 24 | $64.8M | $-233.6M | ||
| Q2 24 | $49.1M | $20.2M | ||
| Q1 24 | $61.4M | $24.1M |
毛利率FCFSIPGP
| Q4 25 | — | 36.1% | ||
| Q3 25 | — | 39.5% | ||
| Q2 25 | — | 37.3% | ||
| Q1 25 | — | 39.4% | ||
| Q4 24 | — | 38.6% | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 37.3% | ||
| Q1 24 | — | 38.7% |
营业利润率FCFSIPGP
| Q4 25 | 28.5% | 1.2% | ||
| Q3 25 | 27.4% | 3.1% | ||
| Q2 25 | 21.1% | 0.0% | ||
| Q1 25 | 30.0% | 0.8% | ||
| Q4 24 | 26.5% | 6.0% | ||
| Q3 24 | 23.5% | -108.7% | ||
| Q2 24 | 18.2% | 4.7% | ||
| Q1 24 | 22.3% | 7.6% |
净利率FCFSIPGP
| Q4 25 | 20.8% | 4.8% | ||
| Q3 25 | 20.1% | 3.0% | ||
| Q2 25 | 15.5% | 2.6% | ||
| Q1 25 | 22.5% | 1.6% | ||
| Q4 24 | 20.2% | 3.3% | ||
| Q3 24 | 17.9% | -100.2% | ||
| Q2 24 | 13.5% | 7.8% | ||
| Q1 24 | 16.7% | 9.6% |
每股收益（稀释后）FCFSIPGP
| Q4 25 | $2.35 | $0.30 | ||
| Q3 25 | $1.86 | $0.18 | ||
| Q2 25 | $1.34 | $0.16 | ||
| Q1 25 | $1.87 | $0.09 | ||
| Q4 24 | $1.86 | $0.27 | ||
| Q3 24 | $1.44 | $-5.33 | ||
| Q2 24 | $1.08 | $0.45 | ||
| Q1 24 | $1.35 | $0.52 |
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 | $125.2M | $839.3M |
| 总债务越低越好 | $2.2B | — |
| 股东权益账面价值 | $2.3B | $2.1B |
| 总资产 | $5.3B | $2.4B |
| 负债/权益比越低杠杆越低 | 0.98× | — |
8季度趋势，按日历期对齐
现金及短期投资FCFSIPGP
| Q4 25 | $125.2M | $839.3M | ||
| Q3 25 | $130.2M | $870.4M | ||
| Q2 25 | $101.5M | $899.6M | ||
| Q1 25 | $146.0M | $926.9M | ||
| Q4 24 | $175.1M | $930.2M | ||
| Q3 24 | $106.3M | $1.0B | ||
| Q2 24 | $113.7M | $1.1B | ||
| Q1 24 | $135.1M | $1.1B |
总债务FCFSIPGP
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.5B | — |
股东权益FCFSIPGP
| Q4 25 | $2.3B | $2.1B | ||
| Q3 25 | $2.2B | $2.1B | ||
| Q2 25 | $2.1B | $2.1B | ||
| Q1 25 | $2.1B | $2.1B | ||
| Q4 24 | $2.1B | $2.0B | ||
| Q3 24 | $2.0B | $2.1B | ||
| Q2 24 | $2.0B | $2.3B | ||
| Q1 24 | $2.0B | $2.3B |
总资产FCFSIPGP
| Q4 25 | $5.3B | $2.4B | ||
| Q3 25 | $5.2B | $2.4B | ||
| Q2 25 | $4.5B | $2.4B | ||
| Q1 25 | $4.4B | $2.3B | ||
| Q4 24 | $4.5B | $2.3B | ||
| Q3 24 | $4.4B | $2.4B | ||
| Q2 24 | $4.3B | $2.5B | ||
| Q1 24 | $4.2B | $2.6B |
负债/权益比FCFSIPGP
| Q4 25 | 0.98× | — | ||
| Q3 25 | 1.01× | — | ||
| Q2 25 | 0.79× | — | ||
| Q1 25 | 0.83× | — | ||
| Q4 24 | 0.85× | — | ||
| Q3 24 | 0.87× | — | ||
| Q2 24 | 0.85× | — | ||
| Q1 24 | 0.75× | — |
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 | $206.6M | $28.8M |
| 自由现金流经营现金流 - 资本支出 | — | $10.9M |
| 自由现金流率自由现金流/营收 | — | 4.0% |
| 资本支出强度资本支出/营收 | — | 6.5% |
| 现金转化率经营现金流/净利润 | 1.98× | 2.17× |
| 过去12个月自由现金流最近4个季度 | — | $-3.5M |
8季度趋势，按日历期对齐
经营现金流FCFSIPGP
| Q4 25 | $206.6M | $28.8M | ||
| Q3 25 | $135.8M | $35.3M | ||
| Q2 25 | $116.9M | $-2.2M | ||
| Q1 25 | $126.6M | $13.4M | ||
| Q4 24 | $198.1M | $73.8M | ||
| Q3 24 | $113.1M | $66.1M | ||
| Q2 24 | $106.2M | $53.5M | ||
| Q1 24 | $122.5M | $54.6M |
自由现金流FCFSIPGP
| Q4 25 | — | $10.9M | ||
| Q3 25 | — | $14.6M | ||
| Q2 25 | — | $-17.6M | ||
| Q1 25 | — | $-11.4M | ||
| Q4 24 | — | $50.6M | ||
| Q3 24 | — | $43.0M | ||
| Q2 24 | — | $29.2M | ||
| Q1 24 | — | $26.5M |
自由现金流率FCFSIPGP
| Q4 25 | — | 4.0% | ||
| Q3 25 | — | 5.8% | ||
| Q2 25 | — | -7.0% | ||
| Q1 25 | — | -5.0% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | — | 18.4% | ||
| Q2 24 | — | 11.3% | ||
| Q1 24 | — | 10.5% |
资本支出强度FCFSIPGP
| Q4 25 | — | 6.5% | ||
| Q3 25 | — | 8.3% | ||
| Q2 25 | — | 6.1% | ||
| Q1 25 | — | 10.9% | ||
| Q4 24 | — | 9.9% | ||
| Q3 24 | — | 9.9% | ||
| Q2 24 | — | 9.4% | ||
| Q1 24 | — | 11.1% |
现金转化率FCFSIPGP
| Q4 25 | 1.98× | 2.17× | ||
| Q3 25 | 1.64× | 4.73× | ||
| Q2 25 | 1.95× | -0.34× | ||
| Q1 25 | 1.51× | 3.58× | ||
| Q4 24 | 2.37× | 9.44× | ||
| Q3 24 | 1.74× | — | ||
| Q2 24 | 2.16× | 2.65× | ||
| Q1 24 | 2.00× | 2.27× |
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
FCFS
| US Pawn Segment | $292.2M | 58% |
| Retail POS Payment Solutions | $209.8M | 42% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
