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GLAUKOS Corp（GKOS）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
IPG PHOTONICS CORP的季度营收约是GLAUKOS Corp的1.8倍（$274.5M vs $150.6M），GLAUKOS Corp净利率更高（6.2% vs 4.8%，领先1.4%），GLAUKOS Corp同比增速更快（41.2% vs 17.1%），过去两年GLAUKOS Corp的营收复合增速更高（25.4% vs 4.4%）
Glaukos Corp是一家专注于眼科领域的医疗科技企业，开发并商业化用于治疗青光眼、角膜疾病等眼部病症的微创手术器械、处方药物及消费级产品，主要市场覆盖北美、欧洲及亚太地区，为全球医院、眼科诊所及患者提供服务。
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。
GKOS vs IPGP — 直观对比
营收规模更大
IPGP
是对方的1.8倍
$150.6M
营收增速更快
GKOS
高出24.0%
17.1%
净利率更高
GKOS
高出1.4%
4.8%
两年增速更快
GKOS
近两年复合增速
4.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $150.6M | $274.5M |
| 净利润 | $9.4M | $13.3M |
| 毛利率 | 77.9% | 36.1% |
| 营业利润率 | 9.0% | 1.2% |
| 净利率 | 6.2% | 4.8% |
| 营收同比 | 41.2% | 17.1% |
| 净利润同比 | — | 69.8% |
| 每股收益（稀释后） | — | $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GKOSIPGP
| Q1 26 | $150.6M | — | ||
| Q4 25 | $143.1M | $274.5M | ||
| Q3 25 | $133.5M | $250.8M | ||
| Q2 25 | $124.1M | $250.7M | ||
| Q1 25 | $106.7M | $227.8M | ||
| Q4 24 | $105.5M | $234.3M | ||
| Q3 24 | $96.7M | $233.1M | ||
| Q2 24 | $95.7M | $257.6M |
净利润GKOSIPGP
| Q1 26 | $9.4M | — | ||
| Q4 25 | $-133.7M | $13.3M | ||
| Q3 25 | $-16.2M | $7.5M | ||
| Q2 25 | $-19.7M | $6.6M | ||
| Q1 25 | $-18.1M | $3.8M | ||
| Q4 24 | $-33.6M | $7.8M | ||
| Q3 24 | $-21.4M | $-233.6M | ||
| Q2 24 | $-50.5M | $20.2M |
毛利率GKOSIPGP
| Q1 26 | 77.9% | — | ||
| Q4 25 | -1.1% | 36.1% | ||
| Q3 25 | 78.4% | 39.5% | ||
| Q2 25 | 78.3% | 37.3% | ||
| Q1 25 | 77.2% | 39.4% | ||
| Q4 24 | 72.9% | 38.6% | ||
| Q3 24 | 76.6% | 23.2% | ||
| Q2 24 | 76.4% | 37.3% |
营业利润率GKOSIPGP
| Q1 26 | 9.0% | — | ||
| Q4 25 | -97.7% | 1.2% | ||
| Q3 25 | -12.3% | 3.1% | ||
| Q2 25 | -18.3% | 0.0% | ||
| Q1 25 | -19.4% | 0.8% | ||
| Q4 24 | -27.2% | 6.0% | ||
| Q3 24 | -25.5% | -108.7% | ||
| Q2 24 | -31.3% | 4.7% |
净利率GKOSIPGP
| Q1 26 | 6.2% | — | ||
| Q4 25 | -93.4% | 4.8% | ||
| Q3 25 | -12.2% | 3.0% | ||
| Q2 25 | -15.8% | 2.6% | ||
| Q1 25 | -17.0% | 1.6% | ||
| Q4 24 | -31.8% | 3.3% | ||
| Q3 24 | -22.1% | -100.2% | ||
| Q2 24 | -52.8% | 7.8% |
每股收益（稀释后）GKOSIPGP
| Q1 26 | — | — | ||
| Q4 25 | $-2.34 | $0.30 | ||
| Q3 25 | $-0.28 | $0.18 | ||
| Q2 25 | $-0.34 | $0.16 | ||
| Q1 25 | $-0.32 | $0.09 | ||
| Q4 24 | $-0.56 | $0.27 | ||
| Q3 24 | $-0.39 | $-5.33 | ||
| Q2 24 | $-1.00 | $0.45 |
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 | $276.7M | $839.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $670.9M | $2.1B |
| 总资产 | $893.3M | $2.4B |
| 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GKOSIPGP
| Q1 26 | $276.7M | — | ||
| Q4 25 | $90.8M | $839.3M | ||
| Q3 25 | $98.2M | $870.4M | ||
| Q2 25 | $100.8M | $899.6M | ||
| Q1 25 | $114.3M | $926.9M | ||
| Q4 24 | $169.6M | $930.2M | ||
| Q3 24 | $100.1M | $1.0B | ||
| Q2 24 | $68.1M | $1.1B |
股东权益GKOSIPGP
| Q1 26 | $670.9M | — | ||
| Q4 25 | $656.2M | $2.1B | ||
| Q3 25 | $769.5M | $2.1B | ||
| Q2 25 | $765.1M | $2.1B | ||
| Q1 25 | $764.0M | $2.1B | ||
| Q4 24 | $766.9M | $2.0B | ||
| Q3 24 | $668.5M | $2.1B | ||
| Q2 24 | $665.2M | $2.3B |
总资产GKOSIPGP
| Q1 26 | $893.3M | — | ||
| Q4 25 | $893.5M | $2.4B | ||
| Q3 25 | $999.4M | $2.4B | ||
| Q2 25 | $987.0M | $2.4B | ||
| Q1 25 | $966.2M | $2.3B | ||
| Q4 24 | $974.8M | $2.3B | ||
| Q3 24 | $926.5M | $2.4B | ||
| Q2 24 | $919.7M | $2.5B |
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 | — | $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 | — | 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GKOSIPGP
| Q1 26 | — | — | ||
| Q4 25 | $6.8M | $28.8M | ||
| Q3 25 | $-10.1M | $35.3M | ||
| Q2 25 | $7.0M | $-2.2M | ||
| Q1 25 | $-18.5M | $13.4M | ||
| Q4 24 | $507.0K | $73.8M | ||
| Q3 24 | $-9.6M | $66.1M | ||
| Q2 24 | $-18.4M | $53.5M |
自由现金流GKOSIPGP
| Q1 26 | — | — | ||
| Q4 25 | $3.9M | $10.9M | ||
| Q3 25 | $-11.7M | $14.6M | ||
| Q2 25 | $5.8M | $-17.6M | ||
| Q1 25 | $-20.5M | $-11.4M | ||
| Q4 24 | $-1.2M | $50.6M | ||
| Q3 24 | $-11.0M | $43.0M | ||
| Q2 24 | $-20.5M | $29.2M |
自由现金流率GKOSIPGP
| Q1 26 | — | — | ||
| Q4 25 | 2.7% | 4.0% | ||
| Q3 25 | -8.8% | 5.8% | ||
| Q2 25 | 4.7% | -7.0% | ||
| Q1 25 | -19.2% | -5.0% | ||
| Q4 24 | -1.2% | 21.6% | ||
| Q3 24 | -11.4% | 18.4% | ||
| Q2 24 | -21.4% | 11.3% |
资本支出强度GKOSIPGP
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 6.5% | ||
| Q3 25 | 1.2% | 8.3% | ||
| Q2 25 | 0.9% | 6.1% | ||
| Q1 25 | 1.8% | 10.9% | ||
| Q4 24 | 1.6% | 9.9% | ||
| Q3 24 | 1.5% | 9.9% | ||
| Q2 24 | 2.2% | 9.4% |
现金转化率GKOSIPGP
| Q1 26 | — | — | ||
| Q4 25 | — | 2.17× | ||
| Q3 25 | — | 4.73× | ||
| Q2 25 | — | -0.34× | ||
| Q1 25 | — | 3.58× | ||
| Q4 24 | — | 9.44× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.65× |
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
GKOS
暂无分部数据
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
