vs
Fabrinet（FN）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
埃培智集团的季度营收约是Fabrinet的1.9倍（$2.1B vs $1.1B），Fabrinet净利率更高（9.9% vs 5.8%，领先4.1%），Fabrinet同比增速更快（35.9% vs -4.8%），埃培智集团自由现金流更多（$153.6M vs $-5.3M），过去两年Fabrinet的营收复合增速更高（24.4% vs -9.1%）
Fabrinet（股票代码FN）为标普中型股400指数成分股。该指数由标普道琼斯指数公司维护，覆盖400家以美企为主的中等市值企业，若成分企业存在多类流通股，指数的成分股总量有时会超过400只。
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。
FN vs IPG — 直观对比
营收规模更大
IPG
是对方的1.9倍
$1.1B
营收增速更快
FN
高出40.7%
-4.8%
净利率更高
FN
高出4.1%
5.8%
自由现金流更多
IPG
多$158.9M
$-5.3M
两年增速更快
FN
近两年复合增速
-9.1%
损益表 — Q2 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $2.1B |
| 净利润 | $112.6M | $124.2M |
| 毛利率 | 12.2% | — |
| 营业利润率 | 10.1% | 10.3% |
| 净利率 | 9.9% | 5.8% |
| 营收同比 | 35.9% | -4.8% |
| 净利润同比 | 30.0% | 517.9% |
| 每股收益（稀释后） | $3.11 | $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FNIPG
| Q4 25 | $1.1B | — | ||
| Q3 25 | $978.1M | $2.1B | ||
| Q2 25 | $909.7M | $2.2B | ||
| Q1 25 | $871.8M | $2.0B | ||
| Q4 24 | $833.6M | $2.4B | ||
| Q3 24 | $804.2M | $2.2B | ||
| Q2 24 | $753.3M | $2.3B | ||
| Q1 24 | $731.5M | $2.2B |
净利润FNIPG
| Q4 25 | $112.6M | — | ||
| Q3 25 | $95.9M | $124.2M | ||
| Q2 25 | $87.2M | $162.5M | ||
| Q1 25 | $81.3M | $-85.4M | ||
| Q4 24 | $86.6M | $344.5M | ||
| Q3 24 | $77.4M | $20.1M | ||
| Q2 24 | $81.1M | $214.5M | ||
| Q1 24 | $80.9M | $110.4M |
毛利率FNIPG
| Q4 25 | 12.2% | — | ||
| Q3 25 | 11.9% | — | ||
| Q2 25 | 12.2% | — | ||
| Q1 25 | 11.7% | -3.2% | ||
| Q4 24 | 12.1% | 10.1% | ||
| Q3 24 | 12.3% | 2.9% | ||
| Q2 24 | 12.3% | 1.2% | ||
| Q1 24 | 12.4% | -1.1% |
营业利润率FNIPG
| Q4 25 | 10.1% | — | ||
| Q3 25 | 9.6% | 10.3% | ||
| Q2 25 | 9.8% | 11.2% | ||
| Q1 25 | 9.0% | -2.1% | ||
| Q4 24 | 9.5% | 23.3% | ||
| Q3 24 | 9.6% | 5.9% | ||
| Q2 24 | 9.7% | 13.7% | ||
| Q1 24 | 9.7% | 8.4% |
净利率FNIPG
| Q4 25 | 9.9% | — | ||
| Q3 25 | 9.8% | 5.8% | ||
| Q2 25 | 9.6% | 7.5% | ||
| Q1 25 | 9.3% | -4.3% | ||
| Q4 24 | 10.4% | 14.1% | ||
| Q3 24 | 9.6% | 0.9% | ||
| Q2 24 | 10.8% | 9.2% | ||
| Q1 24 | 11.1% | 5.1% |
每股收益（稀释后）FNIPG
| Q4 25 | $3.11 | — | ||
| Q3 25 | $2.66 | $0.34 | ||
| Q2 25 | $2.41 | $0.44 | ||
| Q1 25 | $2.25 | $-0.23 | ||
| Q4 24 | $2.38 | $0.92 | ||
| Q3 24 | $2.13 | $0.05 | ||
| Q2 24 | $2.22 | $0.57 | ||
| Q1 24 | $2.21 | $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 | $960.8M | $1.5B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.2B | $3.7B |
| 总资产 | $3.3B | $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FNIPG
| Q4 25 | $960.8M | — | ||
| Q3 25 | $968.8M | $1.5B | ||
| Q2 25 | $934.2M | $1.6B | ||
| Q1 25 | $950.7M | $1.9B | ||
| Q4 24 | $934.6M | $2.2B | ||
| Q3 24 | $908.9M | $1.5B | ||
| Q2 24 | $858.6M | $1.5B | ||
| Q1 24 | $794.0M | $1.9B |
股东权益FNIPG
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.1B | $3.7B | ||
| Q2 25 | $2.0B | $3.7B | ||
| Q1 25 | $1.9B | $3.6B | ||
| Q4 24 | $1.8B | $3.8B | ||
| Q3 24 | $1.8B | $3.7B | ||
| Q2 24 | $1.7B | $3.8B | ||
| Q1 24 | $1.7B | $3.8B |
总资产FNIPG
| Q4 25 | $3.3B | — | ||
| Q3 25 | $3.0B | $17.0B | ||
| Q2 25 | $2.8B | $17.0B | ||
| Q1 25 | $2.6B | $17.1B | ||
| Q4 24 | $2.5B | $18.3B | ||
| Q3 24 | $2.4B | $17.1B | ||
| Q2 24 | $2.3B | $17.0B | ||
| Q1 24 | $2.2B | $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 | $46.3M | $180.1M |
| 自由现金流经营现金流 - 资本支出 | $-5.3M | $153.6M |
| 自由现金流率自由现金流/营收 | -0.5% | 7.2% |
| 资本支出强度资本支出/营收 | 4.6% | 1.2% |
| 现金转化率经营现金流/净利润 | 0.41× | 1.45× |
| 过去12个月自由现金流最近4个季度 | $102.3M | $806.8M |
8季度趋势，按日历期对齐
经营现金流FNIPG
| Q4 25 | $46.3M | — | ||
| Q3 25 | $102.6M | $180.1M | ||
| Q2 25 | $55.1M | $-96.0M | ||
| Q1 25 | $74.2M | $-37.0M | ||
| Q4 24 | $115.9M | $868.1M | ||
| Q3 24 | $83.2M | $223.8M | ||
| Q2 24 | $83.1M | $120.7M | ||
| Q1 24 | $100.9M | $-157.4M |
自由现金流FNIPG
| Q4 25 | $-5.3M | — | ||
| Q3 25 | $57.3M | $153.6M | ||
| Q2 25 | $4.7M | $-121.8M | ||
| Q1 25 | $45.7M | $-58.5M | ||
| Q4 24 | $94.0M | $833.5M | ||
| Q3 24 | $62.9M | $186.5M | ||
| Q2 24 | $70.4M | $85.9M | ||
| Q1 24 | $87.3M | $-192.5M |
自由现金流率FNIPG
| Q4 25 | -0.5% | — | ||
| Q3 25 | 5.9% | 7.2% | ||
| Q2 25 | 0.5% | -5.6% | ||
| Q1 25 | 5.2% | -2.9% | ||
| Q4 24 | 11.3% | 34.2% | ||
| Q3 24 | 7.8% | 8.3% | ||
| Q2 24 | 9.3% | 3.7% | ||
| Q1 24 | 11.9% | -8.8% |
资本支出强度FNIPG
| Q4 25 | 4.6% | — | ||
| Q3 25 | 4.6% | 1.2% | ||
| Q2 25 | 5.5% | 1.2% | ||
| Q1 25 | 3.3% | 1.1% | ||
| Q4 24 | 2.6% | 1.4% | ||
| Q3 24 | 2.5% | 1.7% | ||
| Q2 24 | 1.7% | 1.5% | ||
| Q1 24 | 1.9% | 1.6% |
现金转化率FNIPG
| Q4 25 | 0.41× | — | ||
| Q3 25 | 1.07× | 1.45× | ||
| Q2 25 | 0.63× | -0.59× | ||
| Q1 25 | 0.91× | — | ||
| Q4 24 | 1.34× | 2.52× | ||
| Q3 24 | 1.07× | 11.13× | ||
| Q2 24 | 1.02× | 0.56× | ||
| Q1 24 | 1.25× | -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
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
IPG
| MDE | $619.0M | 29% |
| IAC | $574.9M | 27% |
| Other | $527.9M | 25% |
| SCE | $413.8M | 19% |
