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GRAPHIC PACKAGING HOLDING CO（GPK）与OLD REPUBLIC INTERNATIONAL CORP（ORI）财务数据对比。点击上方公司名可切换其他公司
OLD REPUBLIC INTERNATIONAL CORP的季度营收约是GRAPHIC PACKAGING HOLDING CO的1.1倍（$2.4B vs $2.1B），OLD REPUBLIC INTERNATIONAL CORP净利率更高（13.8% vs 3.4%，领先10.4%），OLD REPUBLIC INTERNATIONAL CORP同比增速更快（6.7% vs 0.2%），过去两年OLD REPUBLIC INTERNATIONAL CORP的营收复合增速更高（13.2% vs -3.5%）
Graphic Packaging Holding是总部位于美国佐治亚州亚特兰大的世界500强企业，专注于设计和生产商用产品包装解决方案，主营纸板及折叠纸盒业务，产品广泛应用于饮料、包装食品等各类热门消费品领域，在美国多州运营采用回收原料的纸板工厂。
Old Republic International Corp是一家总部位于美国伊利诺伊州芝加哥的保险企业，核心业务覆盖财产保险、产权保险两大领域，深耕行业多年，具备成熟的风险防控能力与完善的服务体系，可为各类客户提供专业可靠的保险产品及相关解决方案。
GPK vs ORI — 直观对比
营收规模更大
ORI
是对方的1.1倍
$2.1B
营收增速更快
ORI
高出6.5%
0.2%
净利率更高
ORI
高出10.4%
3.4%
两年增速更快
ORI
近两年复合增速
-3.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.4B |
| 净利润 | $71.0M | $330.0M |
| 毛利率 | 14.1% | — |
| 营业利润率 | 7.4% | — |
| 净利率 | 3.4% | 13.8% |
| 营收同比 | 0.2% | 6.7% |
| 净利润同比 | -48.6% | 34.7% |
| 每股收益（稀释后） | $0.24 | — |
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GPKORI
| Q1 26 | — | $2.4B | ||
| Q4 25 | $2.1B | $2.4B | ||
| Q3 25 | $2.2B | $2.4B | ||
| Q2 25 | $2.2B | $2.2B | ||
| Q1 25 | $2.1B | $2.1B | ||
| Q4 24 | $2.1B | $2.0B | ||
| Q3 24 | $2.2B | $2.3B | ||
| Q2 24 | $2.2B | $1.9B |
净利润GPKORI
| Q1 26 | — | $330.0M | ||
| Q4 25 | $71.0M | $206.5M | ||
| Q3 25 | $142.0M | $279.5M | ||
| Q2 25 | $104.0M | $204.4M | ||
| Q1 25 | $127.0M | $245.0M | ||
| Q4 24 | $138.0M | $105.3M | ||
| Q3 24 | $165.0M | $338.9M | ||
| Q2 24 | $190.0M | $91.8M |
毛利率GPKORI
| Q1 26 | — | — | ||
| Q4 25 | 14.1% | — | ||
| Q3 25 | 19.6% | — | ||
| Q2 25 | 18.7% | — | ||
| Q1 25 | 20.6% | — | ||
| Q4 24 | 21.4% | — | ||
| Q3 24 | 22.3% | — | ||
| Q2 24 | 21.2% | — |
营业利润率GPKORI
| Q1 26 | — | — | ||
| Q4 25 | 7.4% | — | ||
| Q3 25 | 10.7% | 14.6% | ||
| Q2 25 | 8.8% | 11.8% | ||
| Q1 25 | 10.5% | 14.6% | ||
| Q4 24 | 11.4% | — | ||
| Q3 24 | 12.6% | 18.2% | ||
| Q2 24 | 14.5% | 6.1% |
净利率GPKORI
| Q1 26 | — | 13.8% | ||
| Q4 25 | 3.4% | 8.6% | ||
| Q3 25 | 6.5% | 11.5% | ||
| Q2 25 | 4.7% | 9.3% | ||
| Q1 25 | 6.0% | 11.6% | ||
| Q4 24 | 6.6% | 5.3% | ||
| Q3 24 | 7.5% | 14.5% | ||
| Q2 24 | 8.5% | 4.9% |
每股收益（稀释后）GPKORI
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $0.82 | ||
| Q3 25 | $0.48 | $1.11 | ||
| Q2 25 | $0.34 | $0.81 | ||
| Q1 25 | $0.42 | $0.98 | ||
| Q4 24 | $0.46 | $0.42 | ||
| Q3 24 | $0.55 | $1.32 | ||
| Q2 24 | $0.62 | $0.35 |
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 | $261.0M | — |
| 总债务越低越好 | $5.0B | — |
| 股东权益账面价值 | $3.3B | $5.9M |
| 总资产 | $11.8B | $29.6M |
| 负债/权益比越低杠杆越低 | 1.51× | — |
8季度趋势，按日历期对齐
现金及短期投资GPKORI
| Q1 26 | — | — | ||
| Q4 25 | $261.0M | — | ||
| Q3 25 | $120.0M | — | ||
| Q2 25 | $120.0M | — | ||
| Q1 25 | $129.0M | — | ||
| Q4 24 | $157.0M | — | ||
| Q3 24 | $126.0M | — | ||
| Q2 24 | $125.0M | — |
总债务GPKORI
| Q1 26 | — | — | ||
| Q4 25 | $5.0B | — | ||
| Q3 25 | $5.5B | — | ||
| Q2 25 | $5.4B | — | ||
| Q1 25 | $5.7B | — | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $5.4B | — | ||
| Q2 24 | $4.9B | — |
股东权益GPKORI
| Q1 26 | — | $5.9M | ||
| Q4 25 | $3.3B | $5.9B | ||
| Q3 25 | $3.3B | $6.4B | ||
| Q2 25 | $3.2B | $6.2B | ||
| Q1 25 | $3.2B | $5.9B | ||
| Q4 24 | $3.0B | $5.6B | ||
| Q3 24 | $3.0B | $6.4B | ||
| Q2 24 | $2.8B | $6.0B |
总资产GPKORI
| Q1 26 | — | $29.6M | ||
| Q4 25 | $11.8B | $29.9B | ||
| Q3 25 | $11.9B | $30.3B | ||
| Q2 25 | $11.8B | $29.3B | ||
| Q1 25 | $11.5B | $28.0B | ||
| Q4 24 | $11.1B | $27.8B | ||
| Q3 24 | $11.2B | $28.8B | ||
| Q2 24 | $10.8B | $27.5B |
负债/权益比GPKORI
| Q1 26 | — | — | ||
| Q4 25 | 1.51× | — | ||
| Q3 25 | 1.67× | — | ||
| Q2 25 | 1.68× | — | ||
| Q1 25 | 1.80× | — | ||
| Q4 24 | 1.71× | — | ||
| Q3 24 | 1.79× | — | ||
| Q2 24 | 1.75× | — |
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 | $521.0M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 7.34× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流GPKORI
| Q1 26 | — | — | ||
| Q4 25 | $521.0M | $234.9M | ||
| Q3 25 | $227.0M | $563.9M | ||
| Q2 25 | $267.0M | $133.8M | ||
| Q1 25 | $-174.0M | $231.7M | ||
| Q4 24 | $489.0M | $361.7M | ||
| Q3 24 | $187.0M | $474.8M | ||
| Q2 24 | $161.0M | $236.5M |
现金转化率GPKORI
| Q1 26 | — | — | ||
| Q4 25 | 7.34× | 1.14× | ||
| Q3 25 | 1.60× | 2.02× | ||
| Q2 25 | 2.57× | 0.65× | ||
| Q1 25 | -1.37× | 0.95× | ||
| Q4 24 | 3.54× | 3.43× | ||
| Q3 24 | 1.13× | 1.40× | ||
| Q2 24 | 0.85× | 2.58× |
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
GPK
| Americas Paperboard Packaging | $1.4B | 68% |
| Other | $667.0M | 32% |
ORI
| operating | $2.2B | 92% |
| Other | $201.8M | 8% |
