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GRAPHIC PACKAGING HOLDING CO（GPK）与韦莱韬悦（WTW）财务数据对比。点击上方公司名可切换其他公司
韦莱韬悦的季度营收约是GRAPHIC PACKAGING HOLDING CO的1.4倍（$2.9B vs $2.1B），韦莱韬悦净利率更高（25.5% vs 3.4%，领先22.1%），GRAPHIC PACKAGING HOLDING CO同比增速更快（0.2% vs -3.5%），过去两年韦莱韬悦的营收复合增速更高（12.0% 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。
韦莱韬悦是一家英美联营的跨国咨询、经纪及解决方案服务商，业务覆盖商业保险经纪与风险咨询、员工福利与薪酬咨询、退休与精算服务，同时可为养老基金、机构投资者提供专业投资建议，服务网络覆盖全球多个市场。
GPK vs WTW — 直观对比
营收规模更大
WTW
是对方的1.4倍
$2.1B
营收增速更快
GPK
高出3.8%
-3.5%
净利率更高
WTW
高出22.1%
3.4%
两年增速更快
WTW
近两年复合增速
-3.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.9B |
| 净利润 | $71.0M | $735.0M |
| 毛利率 | 14.1% | — |
| 营业利润率 | 7.4% | 35.3% |
| 净利率 | 3.4% | 25.5% |
| 营收同比 | 0.2% | -3.5% |
| 净利润同比 | -48.6% | -41.0% |
| 每股收益（稀释后） | $0.24 | $7.50 |
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GPKWTW
| Q4 25 | $2.1B | $2.9B | ||
| Q3 25 | $2.2B | $2.2B | ||
| Q2 25 | $2.2B | $2.2B | ||
| Q1 25 | $2.1B | $2.2B | ||
| Q4 24 | $2.1B | $3.0B | ||
| Q3 24 | $2.2B | $2.2B | ||
| Q2 24 | $2.2B | $2.2B | ||
| Q1 24 | $2.3B | $2.3B |
净利润GPKWTW
| Q4 25 | $71.0M | $735.0M | ||
| Q3 25 | $142.0M | $304.0M | ||
| Q2 25 | $104.0M | $331.0M | ||
| Q1 25 | $127.0M | $235.0M | ||
| Q4 24 | $138.0M | $1.2B | ||
| Q3 24 | $165.0M | $-1.7B | ||
| Q2 24 | $190.0M | $141.0M | ||
| Q1 24 | $165.0M | $190.0M |
毛利率GPKWTW
| 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GPKWTW
| Q4 25 | 7.4% | 35.3% | ||
| Q3 25 | 10.7% | 18.7% | ||
| Q2 25 | 8.8% | 16.6% | ||
| Q1 25 | 10.5% | 19.8% | ||
| Q4 24 | 11.4% | 30.2% | ||
| Q3 24 | 12.6% | -34.2% | ||
| Q2 24 | 14.5% | 9.6% | ||
| Q1 24 | 12.4% | 12.2% |
净利率GPKWTW
| Q4 25 | 3.4% | 25.5% | ||
| Q3 25 | 6.5% | 13.6% | ||
| Q2 25 | 4.7% | 14.9% | ||
| Q1 25 | 6.0% | 10.8% | ||
| Q4 24 | 6.6% | 41.7% | ||
| Q3 24 | 7.5% | -74.8% | ||
| Q2 24 | 8.5% | 6.4% | ||
| Q1 24 | 7.3% | 8.3% |
每股收益（稀释后）GPKWTW
| Q4 25 | $0.24 | $7.50 | ||
| Q3 25 | $0.48 | $3.11 | ||
| Q2 25 | $0.34 | $3.32 | ||
| Q1 25 | $0.42 | $2.33 | ||
| Q4 24 | $0.46 | $12.29 | ||
| Q3 24 | $0.55 | $-16.44 | ||
| Q2 24 | $0.62 | $1.36 | ||
| Q1 24 | $0.53 | $1.83 |
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 | $3.2B |
| 总债务越低越好 | $5.0B | $9.7B |
| 股东权益账面价值 | $3.3B | $8.0B |
| 总资产 | $11.8B | $29.5B |
| 负债/权益比越低杠杆越低 | 1.51× | 1.21× |
8季度趋势，按日历期对齐
现金及短期投资GPKWTW
| Q4 25 | $261.0M | $3.2B | ||
| Q3 25 | $120.0M | $1.9B | ||
| Q2 25 | $120.0M | $2.0B | ||
| Q1 25 | $129.0M | $1.5B | ||
| Q4 24 | $157.0M | $1.9B | ||
| Q3 24 | $126.0M | $1.4B | ||
| Q2 24 | $125.0M | $1.2B | ||
| Q1 24 | $136.0M | $1.9B |
总债务GPKWTW
| Q4 25 | $5.0B | $9.7B | ||
| Q3 25 | $5.5B | — | ||
| Q2 25 | $5.4B | — | ||
| Q1 25 | $5.7B | — | ||
| Q4 24 | $5.1B | $8.6B | ||
| Q3 24 | $5.4B | — | ||
| Q2 24 | $4.9B | — | ||
| Q1 24 | $4.9B | — |
股东权益GPKWTW
| Q4 25 | $3.3B | $8.0B | ||
| Q3 25 | $3.3B | $7.7B | ||
| Q2 25 | $3.2B | $8.1B | ||
| Q1 25 | $3.2B | $8.1B | ||
| Q4 24 | $3.0B | $7.9B | ||
| Q3 24 | $3.0B | $7.5B | ||
| Q2 24 | $2.8B | $9.3B | ||
| Q1 24 | $2.9B | $9.5B |
总资产GPKWTW
| Q4 25 | $11.8B | $29.5B | ||
| Q3 25 | $11.9B | $27.4B | ||
| Q2 25 | $11.8B | $28.5B | ||
| Q1 25 | $11.5B | $28.1B | ||
| Q4 24 | $11.1B | $27.7B | ||
| Q3 24 | $11.2B | $27.2B | ||
| Q2 24 | $10.8B | $29.6B | ||
| Q1 24 | $11.3B | $30.2B |
负债/权益比GPKWTW
| Q4 25 | 1.51× | 1.21× | ||
| Q3 25 | 1.67× | — | ||
| Q2 25 | 1.68× | — | ||
| Q1 25 | 1.80× | — | ||
| Q4 24 | 1.71× | 1.08× | ||
| 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 | $771.0M |
| 自由现金流经营现金流 - 资本支出 | — | $708.0M |
| 自由现金流率自由现金流/营收 | — | 24.6% |
| 资本支出强度资本支出/营收 | — | 2.2% |
| 现金转化率经营现金流/净利润 | 7.34× | 1.05× |
| 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GPKWTW
| Q4 25 | $521.0M | $771.0M | ||
| Q3 25 | $227.0M | $678.0M | ||
| Q2 25 | $267.0M | $361.0M | ||
| Q1 25 | $-174.0M | $-35.0M | ||
| Q4 24 | $489.0M | $599.0M | ||
| Q3 24 | $187.0M | $482.0M | ||
| Q2 24 | $161.0M | $407.0M | ||
| Q1 24 | $3.0M | $24.0M |
自由现金流GPKWTW
| Q4 25 | — | $708.0M | ||
| Q3 25 | — | $621.0M | ||
| Q2 25 | — | $303.0M | ||
| Q1 25 | — | $-86.0M | ||
| Q4 24 | — | $543.0M | ||
| Q3 24 | — | $419.0M | ||
| Q2 24 | — | $341.0M | ||
| Q1 24 | — | $-36.0M |
自由现金流率GPKWTW
| Q4 25 | — | 24.6% | ||
| Q3 25 | — | 27.7% | ||
| Q2 25 | — | 13.7% | ||
| Q1 25 | — | -3.9% | ||
| Q4 24 | — | 18.2% | ||
| Q3 24 | — | 18.7% | ||
| Q2 24 | — | 15.4% | ||
| Q1 24 | — | -1.6% |
资本支出强度GPKWTW
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | — | 3.0% | ||
| Q1 24 | — | 2.6% |
现金转化率GPKWTW
| Q4 25 | 7.34× | 1.05× | ||
| Q3 25 | 1.60× | 2.23× | ||
| Q2 25 | 2.57× | 1.09× | ||
| Q1 25 | -1.37× | -0.15× | ||
| Q4 24 | 3.54× | 0.48× | ||
| Q3 24 | 1.13× | — | ||
| Q2 24 | 0.85× | 2.89× | ||
| Q1 24 | 0.02× | 0.13× |
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% |
WTW
| Health Wealth And Career | $1.7B | 58% |
| GB | $566.0M | 20% |
| Broking | $465.0M | 16% |
| Other | $113.0M | 4% |
| December Thirty One Two Thousand And Twenty Four | $67.0M | 2% |
| IE | $38.0M | 1% |
