vs
康宁（GLW）与国际纸业（IP）财务数据对比。点击上方公司名可切换其他公司
国际纸业的季度营收约是康宁的1.4倍（$6.0B vs $4.1B），康宁净利率更高（9.3% vs 1.0%，领先8.3%），康宁同比增速更快（0.0% vs -0.6%），康宁自由现金流更多（$188.0M vs $94.0M），过去两年康宁的营收复合增速更高（12.9% vs 12.3%）
康宁是1851年成立的美国跨国科技企业，主营玻璃、陶瓷及相关材料技术，产品线涵盖先进光学产品，主要应用于工业与科研领域。20世纪曾推出多款知名消费产品，包括康宁锅、Corelle餐具、Pyrex烘焙玻璃器皿等，广受市场欢迎。
国际纸业是总部位于美国田纳西州孟菲斯的纸浆及造纸企业，为全球规模最大的同类型企业，目前拥有约3.9万名员工，产品覆盖纸浆、包装用纸、办公用纸等品类，业务遍及全球多个国家和地区，广泛服务各行业客户的相关需求。
GLW vs IP — 直观对比
营收规模更大
IP
是对方的1.4倍
$4.1B
营收增速更快
GLW
高出0.6%
-0.6%
净利率更高
GLW
高出8.3%
1.0%
自由现金流更多
GLW
多$94.0M
$94.0M
两年增速更快
GLW
近两年复合增速
12.3%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.1B | $6.0B |
| 净利润 | $387.0M | $60.0M |
| 毛利率 | 36.9% | — |
| 营业利润率 | 15.4% | — |
| 净利率 | 9.3% | 1.0% |
| 营收同比 | 0.0% | -0.6% |
| 净利润同比 | -60.0% | 157.1% |
| 每股收益（稀释后） | $0.43 | $0.14 |
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GLWIP
| Q1 26 | $4.1B | $6.0B | ||
| Q4 25 | $4.2B | $4.7B | ||
| Q3 25 | $4.1B | $6.2B | ||
| Q2 25 | $3.9B | $6.8B | ||
| Q1 25 | $3.5B | $5.9B | ||
| Q4 24 | $3.5B | $4.6B | ||
| Q3 24 | $3.4B | $4.7B | ||
| Q2 24 | $3.3B | $4.7B |
净利润GLWIP
| Q1 26 | $387.0M | $60.0M | ||
| Q4 25 | $540.0M | $-2.4B | ||
| Q3 25 | $430.0M | $-1.1B | ||
| Q2 25 | $469.0M | $75.0M | ||
| Q1 25 | $157.0M | $-105.0M | ||
| Q4 24 | $310.0M | $-147.0M | ||
| Q3 24 | $-117.0M | $150.0M | ||
| Q2 24 | $104.0M | $498.0M |
毛利率GLWIP
| Q1 26 | 36.9% | — | ||
| Q4 25 | 35.5% | 32.2% | ||
| Q3 25 | 37.1% | 31.1% | ||
| Q2 25 | 36.0% | 27.9% | ||
| Q1 25 | 35.2% | 27.8% | ||
| Q4 24 | 34.2% | 29.0% | ||
| Q3 24 | 33.5% | 28.7% | ||
| Q2 24 | 29.2% | 29.0% |
营业利润率GLWIP
| Q1 26 | 15.4% | — | ||
| Q4 25 | 15.9% | -56.4% | ||
| Q3 25 | 14.4% | -10.8% | ||
| Q2 25 | 14.8% | 1.7% | ||
| Q1 25 | 12.9% | -2.3% | ||
| Q4 24 | 11.2% | -4.9% | ||
| Q3 24 | 8.9% | 5.1% | ||
| Q2 24 | 5.7% | 6.8% |
净利率GLWIP
| Q1 26 | 9.3% | 1.0% | ||
| Q4 25 | 12.8% | -50.3% | ||
| Q3 25 | 10.5% | -17.7% | ||
| Q2 25 | 12.1% | 1.1% | ||
| Q1 25 | 4.5% | -1.8% | ||
| Q4 24 | 8.9% | -3.2% | ||
| Q3 24 | -3.5% | 3.2% | ||
| Q2 24 | 3.2% | 10.5% |
每股收益（稀释后）GLWIP
| Q1 26 | $0.43 | $0.14 | ||
| Q4 25 | $0.61 | $-4.76 | ||
| Q3 25 | $0.50 | $-2.09 | ||
| Q2 25 | $0.54 | $0.14 | ||
| Q1 25 | $0.18 | $-0.24 | ||
| Q4 24 | $0.36 | $-0.42 | ||
| Q3 24 | $-0.14 | $0.42 | ||
| Q2 24 | $0.12 | $1.41 |
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 | $1.8M | — |
| 总债务越低越好 | $7.7M | $8.2B |
| 股东权益账面价值 | $12.3M | $14.8B |
| 总资产 | $31.3M | $36.4B |
| 负债/权益比越低杠杆越低 | 0.62× | 0.55× |
8季度趋势，按日历期对齐
现金及短期投资GLWIP
| Q1 26 | $1.8M | — | ||
| Q4 25 | $1.5B | $1.1B | ||
| Q3 25 | — | $995.0M | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $1.8B | $1.2B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.0B |
总债务GLWIP
| Q1 26 | $7.7M | $8.2B | ||
| Q4 25 | $7.6B | $8.8B | ||
| Q3 25 | $7.4B | $9.0B | ||
| Q2 25 | $6.7B | $9.7B | ||
| Q1 25 | $7.0B | $9.2B | ||
| Q4 24 | $6.9B | $5.4B | ||
| Q3 24 | $7.1B | $5.3B | ||
| Q2 24 | $6.9B | $5.3B |
股东权益GLWIP
| Q1 26 | $12.3M | $14.8B | ||
| Q4 25 | $11.8B | $14.8B | ||
| Q3 25 | $11.5B | $17.3B | ||
| Q2 25 | $11.1B | $18.6B | ||
| Q1 25 | $10.7B | $18.1B | ||
| Q4 24 | $10.7B | $8.2B | ||
| Q3 24 | $11.1B | $8.6B | ||
| Q2 24 | $10.6B | $8.6B |
总资产GLWIP
| Q1 26 | $31.3M | $36.4B | ||
| Q4 25 | $31.0B | $38.0B | ||
| Q3 25 | $29.9B | $40.6B | ||
| Q2 25 | $28.7B | $42.4B | ||
| Q1 25 | $27.4B | $41.2B | ||
| Q4 24 | $27.7B | $22.8B | ||
| Q3 24 | $28.3B | $23.2B | ||
| Q2 24 | $27.2B | $23.1B |
负债/权益比GLWIP
| Q1 26 | 0.62× | 0.55× | ||
| Q4 25 | 0.65× | 0.60× | ||
| Q3 25 | 0.64× | 0.52× | ||
| Q2 25 | 0.60× | 0.52× | ||
| Q1 25 | 0.65× | 0.51× | ||
| Q4 24 | 0.64× | 0.66× | ||
| Q3 24 | 0.64× | 0.62× | ||
| Q2 24 | 0.65× | 0.62× |
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 | $362.0M | — |
| 自由现金流经营现金流 - 资本支出 | $188.0M | $94.0M |
| 自由现金流率自由现金流/营收 | 4.5% | 1.6% |
| 资本支出强度资本支出/营收 | 8.0% | 8.7% |
| 现金转化率经营现金流/净利润 | 0.94× | — |
| 过去12个月自由现金流最近4个季度 | $1.7B | $553.0M |
8季度趋势，按日历期对齐
经营现金流GLWIP
| Q1 26 | $362.0M | — | ||
| Q4 25 | $1.1B | $905.0M | ||
| Q3 25 | $784.0M | $605.0M | ||
| Q2 25 | $708.0M | $476.0M | ||
| Q1 25 | $151.0M | $-288.0M | ||
| Q4 24 | $623.0M | $397.0M | ||
| Q3 24 | $699.0M | $521.0M | ||
| Q2 24 | $521.0M | $365.0M |
自由现金流GLWIP
| Q1 26 | $188.0M | $94.0M | ||
| Q4 25 | $620.0M | $255.0M | ||
| Q3 25 | $450.0M | $150.0M | ||
| Q2 25 | $400.0M | $54.0M | ||
| Q1 25 | $-57.0M | $-618.0M | ||
| Q4 24 | $369.0M | $137.0M | ||
| Q3 24 | $482.0M | $309.0M | ||
| Q2 24 | $279.0M | $167.0M |
自由现金流率GLWIP
| Q1 26 | 4.5% | 1.6% | ||
| Q4 25 | 14.7% | 5.4% | ||
| Q3 25 | 11.0% | 2.4% | ||
| Q2 25 | 10.4% | 0.8% | ||
| Q1 25 | -1.7% | -10.5% | ||
| Q4 24 | 10.5% | 3.0% | ||
| Q3 24 | 14.2% | 6.6% | ||
| Q2 24 | 8.6% | 3.5% |
资本支出强度GLWIP
| Q1 26 | 8.0% | 8.7% | ||
| Q4 25 | 10.2% | 13.7% | ||
| Q3 25 | 8.1% | 7.3% | ||
| Q2 25 | 8.0% | 6.2% | ||
| Q1 25 | 6.0% | 5.6% | ||
| Q4 24 | 7.3% | 5.7% | ||
| Q3 24 | 6.4% | 4.5% | ||
| Q2 24 | 7.4% | 4.2% |
现金转化率GLWIP
| Q1 26 | 0.94× | — | ||
| Q4 25 | 1.95× | — | ||
| Q3 25 | 1.82× | — | ||
| Q2 25 | 1.51× | 6.35× | ||
| Q1 25 | 0.96× | — | ||
| Q4 24 | 2.01× | — | ||
| Q3 24 | — | 3.47× | ||
| Q2 24 | 5.01× | 0.73× |
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
GLW
暂无分部数据
IP
| Packaging Solutions North America | $3.6B | 61% |
| Packaging Solutions EMEA | $2.3B | 39% |
| Corporate and Inter-segment Sales | $22.0M | 0% |
