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GRAPHIC PACKAGING HOLDING CO（GPK）与普信集团（TROW）财务数据对比。点击上方公司名可切换其他公司
GRAPHIC PACKAGING HOLDING CO的季度营收约是普信集团的1.1倍（$2.1B vs $1.9B），普信集团净利率更高（23.0% vs 3.4%，领先19.6%），普信集团同比增速更快（6.0% vs 0.2%），过去两年普信集团的营收复合增速更高（5.1% 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。
普信集团（T. Rowe Price）是美国上市的全球性资产管理机构，面向个人、机构及金融中介提供基金、次咨询服务、独立账户管理、退休规划等多元金融服务。截至2023年，公司管理资产规模超1.51万亿美元，年营收64.8亿美元，位列美国财富1000强第537位。
GPK vs TROW — 直观对比
营收规模更大
GPK
是对方的1.1倍
$1.9B
营收增速更快
TROW
高出5.8%
0.2%
净利率更高
TROW
高出19.6%
3.4%
两年增速更快
TROW
近两年复合增速
-3.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.9B |
| 净利润 | $71.0M | $445.3M |
| 毛利率 | 14.1% | — |
| 营业利润率 | 7.4% | 24.4% |
| 净利率 | 3.4% | 23.0% |
| 营收同比 | 0.2% | 6.0% |
| 净利润同比 | -48.6% | 1.2% |
| 每股收益（稀释后） | $0.24 | $1.98 |
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GPKTROW
| Q4 25 | $2.1B | $1.9B | ||
| Q3 25 | $2.2B | $1.9B | ||
| Q2 25 | $2.2B | $1.7B | ||
| Q1 25 | $2.1B | $1.8B | ||
| Q4 24 | $2.1B | $1.8B | ||
| Q3 24 | $2.2B | $1.8B | ||
| Q2 24 | $2.2B | $1.7B | ||
| Q1 24 | $2.3B | $1.8B |
净利润GPKTROW
| Q4 25 | $71.0M | $445.3M | ||
| Q3 25 | $142.0M | $646.1M | ||
| Q2 25 | $104.0M | $505.2M | ||
| Q1 25 | $127.0M | $490.5M | ||
| Q4 24 | $138.0M | $439.9M | ||
| Q3 24 | $165.0M | $603.0M | ||
| Q2 24 | $190.0M | $483.4M | ||
| Q1 24 | $165.0M | $573.8M |
毛利率GPKTROW
| 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% | — | ||
| Q1 24 | 23.0% | — |
营业利润率GPKTROW
| Q4 25 | 7.4% | 24.4% | ||
| Q3 25 | 10.7% | 34.0% | ||
| Q2 25 | 8.8% | 27.8% | ||
| Q1 25 | 10.5% | 33.8% | ||
| Q4 24 | 11.4% | 31.2% | ||
| Q3 24 | 12.6% | 34.4% | ||
| Q2 24 | 14.5% | 32.6% | ||
| Q1 24 | 12.4% | 33.5% |
净利率GPKTROW
| Q4 25 | 3.4% | 23.0% | ||
| Q3 25 | 6.5% | 34.1% | ||
| Q2 25 | 4.7% | 29.3% | ||
| Q1 25 | 6.0% | 27.8% | ||
| Q4 24 | 6.6% | 24.1% | ||
| Q3 24 | 7.5% | 33.8% | ||
| Q2 24 | 8.5% | 27.9% | ||
| Q1 24 | 7.3% | 32.8% |
每股收益（稀释后）GPKTROW
| Q4 25 | $0.24 | $1.98 | ||
| Q3 25 | $0.48 | $2.87 | ||
| Q2 25 | $0.34 | $2.24 | ||
| Q1 25 | $0.42 | $2.15 | ||
| Q4 24 | $0.46 | $1.91 | ||
| Q3 24 | $0.55 | $2.64 | ||
| Q2 24 | $0.62 | $2.11 | ||
| Q1 24 | $0.53 | $2.49 |
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 | $3.4B |
| 总债务越低越好 | $5.0B | — |
| 股东权益账面价值 | $3.3B | $10.9B |
| 总资产 | $11.8B | $14.3B |
| 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GPKTROW
| Q4 25 | $261.0M | $3.4B | ||
| Q3 25 | $120.0M | $3.6B | ||
| Q2 25 | $120.0M | $3.1B | ||
| Q1 25 | $129.0M | $2.8B | ||
| Q4 24 | $157.0M | $2.6B | ||
| Q3 24 | $126.0M | $3.2B | ||
| Q2 24 | $125.0M | $2.7B | ||
| Q1 24 | $136.0M | $2.4B |
总债务GPKTROW
| 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 | — | ||
| Q1 24 | $4.9B | — |
股东权益GPKTROW
| Q4 25 | $3.3B | $10.9B | ||
| Q3 25 | $3.3B | $10.8B | ||
| Q2 25 | $3.2B | $10.6B | ||
| Q1 25 | $3.2B | $10.4B | ||
| Q4 24 | $3.0B | $10.3B | ||
| Q3 24 | $3.0B | $10.2B | ||
| Q2 24 | $2.8B | $9.9B | ||
| Q1 24 | $2.9B | $9.8B |
总资产GPKTROW
| Q4 25 | $11.8B | $14.3B | ||
| Q3 25 | $11.9B | $14.7B | ||
| Q2 25 | $11.8B | $14.3B | ||
| Q1 25 | $11.5B | $14.0B | ||
| Q4 24 | $11.1B | $13.5B | ||
| Q3 24 | $11.2B | $13.7B | ||
| Q2 24 | $10.8B | $13.1B | ||
| Q1 24 | $11.3B | $12.9B |
负债/权益比GPKTROW
| 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× | — | ||
| Q1 24 | 1.73× | — |
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 | $-18.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-85.4M |
| 自由现金流率自由现金流/营收 | — | -4.4% |
| 资本支出强度资本支出/营收 | — | 3.4% |
| 现金转化率经营现金流/净利润 | 7.34× | -0.04× |
| 过去12个月自由现金流最近4个季度 | — | $1.5B |
8季度趋势，按日历期对齐
经营现金流GPKTROW
| Q4 25 | $521.0M | $-18.7M | ||
| Q3 25 | $227.0M | $609.3M | ||
| Q2 25 | $267.0M | $529.9M | ||
| Q1 25 | $-174.0M | $632.9M | ||
| Q4 24 | $489.0M | $-281.9M | ||
| Q3 24 | $187.0M | $652.5M | ||
| Q2 24 | $161.0M | $677.7M | ||
| Q1 24 | $3.0M | $637.3M |
自由现金流GPKTROW
| Q4 25 | — | $-85.4M | ||
| Q3 25 | — | $546.0M | ||
| Q2 25 | — | $467.7M | ||
| Q1 25 | — | $550.9M | ||
| Q4 24 | — | $-394.9M | ||
| Q3 24 | — | $547.9M | ||
| Q2 24 | — | $574.4M | ||
| Q1 24 | — | $534.8M |
自由现金流率GPKTROW
| Q4 25 | — | -4.4% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | — | 27.1% | ||
| Q1 25 | — | 31.2% | ||
| Q4 24 | — | -21.6% | ||
| Q3 24 | — | 30.7% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 30.6% |
资本支出强度GPKTROW
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 3.3% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 4.6% | ||
| Q4 24 | — | 6.2% | ||
| Q3 24 | — | 5.9% | ||
| Q2 24 | — | 6.0% | ||
| Q1 24 | — | 5.9% |
现金转化率GPKTROW
| Q4 25 | 7.34× | -0.04× | ||
| Q3 25 | 1.60× | 0.94× | ||
| Q2 25 | 2.57× | 1.05× | ||
| Q1 25 | -1.37× | 1.29× | ||
| Q4 24 | 3.54× | -0.64× | ||
| Q3 24 | 1.13× | 1.08× | ||
| Q2 24 | 0.85× | 1.40× | ||
| Q1 24 | 0.02× | 1.11× |
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% |
TROW
| Asset Management1 | $1.7B | 90% |
| Administrative Distribution Servicing And Other Fee Revenue | $141.5M | 7% |
| Other | $40.8M | 2% |
| Performance Based Advisory Fees | $14.2M | 1% |
