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亨廷顿·英格尔斯工业（HII）与埃培智集团（IPG）财务数据对比。点击上方公司名可切换其他公司
亨廷顿·英格尔斯工业的季度营收约是埃培智集团的1.6倍（$3.5B vs $2.1B），埃培智集团净利率更高（5.8% vs 4.6%，领先1.2%），亨廷顿·英格尔斯工业同比增速更快（15.7% vs -4.8%），亨廷顿·英格尔斯工业自由现金流更多（$516.0M vs $153.6M），过去两年亨廷顿·英格尔斯工业的营收复合增速更高（11.3% vs -9.1%）
亨廷顿·英格尔斯工业（简称HII）是美国规模最大的军用造船企业，同时面向政府及行业合作伙伴提供专业服务。公司于2011年3月31日从诺斯罗普·格鲁曼公司分拆成立，在防务装备建造及配套服务领域拥有深厚技术积累与行业资源。
埃培智集团（IPG）是总部位于美国纽约的广告营销传播集团，旗下拥有FCB、IPG盟博、麦肯世界集团、睿狮集团等五大核心业务网络，以及公关、体育营销、艺人经纪、医疗营销等领域的多家专业独立代理商，被宏盟收购前是与WPP、阳狮、宏盟齐名的全球广告行业“四大集团”之一。
HII vs IPG — 直观对比
营收规模更大
HII
是对方的1.6倍
$2.1B
营收增速更快
HII
高出20.5%
-4.8%
净利率更高
IPG
高出1.2%
4.6%
自由现金流更多
HII
多$362.4M
$153.6M
两年增速更快
HII
近两年复合增速
-9.1%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.5B | $2.1B |
| 净利润 | $159.0M | $124.2M |
| 毛利率 | — | — |
| 营业利润率 | 4.9% | 10.3% |
| 净利率 | 4.6% | 5.8% |
| 营收同比 | 15.7% | -4.8% |
| 净利润同比 | 29.3% | 517.9% |
| 每股收益（稀释后） | $4.06 | $0.34 |
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HIIIPG
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.2B | $2.1B | ||
| Q2 25 | $3.1B | $2.2B | ||
| Q1 25 | $2.7B | $2.0B | ||
| Q4 24 | $3.0B | $2.4B | ||
| Q3 24 | $2.7B | $2.2B | ||
| Q2 24 | $3.0B | $2.3B | ||
| Q1 24 | $2.8B | $2.2B |
净利润HIIIPG
| Q4 25 | $159.0M | — | ||
| Q3 25 | $145.0M | $124.2M | ||
| Q2 25 | $152.0M | $162.5M | ||
| Q1 25 | $149.0M | $-85.4M | ||
| Q4 24 | $123.0M | $344.5M | ||
| Q3 24 | $101.0M | $20.1M | ||
| Q2 24 | $173.0M | $214.5M | ||
| Q1 24 | $153.0M | $110.4M |
毛利率HIIIPG
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -3.2% | ||
| Q4 24 | — | 10.1% | ||
| Q3 24 | — | 2.9% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | -1.1% |
营业利润率HIIIPG
| Q4 25 | 4.9% | — | ||
| Q3 25 | 5.0% | 10.3% | ||
| Q2 25 | 5.3% | 11.2% | ||
| Q1 25 | 5.9% | -2.1% | ||
| Q4 24 | 3.7% | 23.3% | ||
| Q3 24 | 3.0% | 5.9% | ||
| Q2 24 | 6.3% | 13.7% | ||
| Q1 24 | 5.5% | 8.4% |
净利率HIIIPG
| Q4 25 | 4.6% | — | ||
| Q3 25 | 4.5% | 5.8% | ||
| Q2 25 | 4.9% | 7.5% | ||
| Q1 25 | 5.4% | -4.3% | ||
| Q4 24 | 4.1% | 14.1% | ||
| Q3 24 | 3.7% | 0.9% | ||
| Q2 24 | 5.8% | 9.2% | ||
| Q1 24 | 5.5% | 5.1% |
每股收益（稀释后）HIIIPG
| Q4 25 | $4.06 | — | ||
| Q3 25 | $3.68 | $0.34 | ||
| Q2 25 | $3.86 | $0.44 | ||
| Q1 25 | $3.79 | $-0.23 | ||
| Q4 24 | $3.15 | $0.92 | ||
| Q3 24 | $2.56 | $0.05 | ||
| Q2 24 | $4.38 | $0.57 | ||
| Q1 24 | $3.87 | $0.29 |
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 | — | $1.5B |
| 总债务越低越好 | $2.7B | — |
| 股东权益账面价值 | $5.1B | $3.7B |
| 总资产 | $12.7B | $17.0B |
| 负债/权益比越低杠杆越低 | 0.53× | — |
8季度趋势，按日历期对齐
现金及短期投资HIIIPG
| Q4 25 | — | — | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | $10.0M | $1.9B |
总债务HIIIPG
| Q4 25 | $2.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HIIIPG
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.0B | $3.7B | ||
| Q2 25 | $4.9B | $3.7B | ||
| Q1 25 | $4.8B | $3.6B | ||
| Q4 24 | $4.7B | $3.8B | ||
| Q3 24 | $4.2B | $3.7B | ||
| Q2 24 | $4.2B | $3.8B | ||
| Q1 24 | $4.1B | $3.8B |
总资产HIIIPG
| Q4 25 | $12.7B | — | ||
| Q3 25 | $12.3B | $17.0B | ||
| Q2 25 | $12.1B | $17.0B | ||
| Q1 25 | $12.1B | $17.1B | ||
| Q4 24 | $12.1B | $18.3B | ||
| Q3 24 | $11.1B | $17.1B | ||
| Q2 24 | $11.3B | $17.0B | ||
| Q1 24 | $11.2B | $17.3B |
负债/权益比HIIIPG
| Q4 25 | 0.53× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.58× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $650.0M | $180.1M |
| 自由现金流经营现金流 - 资本支出 | $516.0M | $153.6M |
| 自由现金流率自由现金流/营收 | 14.8% | 7.2% |
| 资本支出强度资本支出/营收 | 3.9% | 1.2% |
| 现金转化率经营现金流/净利润 | 4.09× | 1.45× |
| 过去12个月自由现金流最近4个季度 | $794.0M | $806.8M |
8季度趋势，按日历期对齐
经营现金流HIIIPG
| Q4 25 | $650.0M | — | ||
| Q3 25 | $118.0M | $180.1M | ||
| Q2 25 | $823.0M | $-96.0M | ||
| Q1 25 | $-395.0M | $-37.0M | ||
| Q4 24 | $391.0M | $868.1M | ||
| Q3 24 | $213.0M | $223.8M | ||
| Q2 24 | $-9.0M | $120.7M | ||
| Q1 24 | $-202.0M | $-157.4M |
自由现金流HIIIPG
| Q4 25 | $516.0M | — | ||
| Q3 25 | $13.0M | $153.6M | ||
| Q2 25 | $727.0M | $-121.8M | ||
| Q1 25 | $-462.0M | $-58.5M | ||
| Q4 24 | $277.0M | $833.5M | ||
| Q3 24 | $125.0M | $186.5M | ||
| Q2 24 | $-99.0M | $85.9M | ||
| Q1 24 | $-277.0M | $-192.5M |
自由现金流率HIIIPG
| Q4 25 | 14.8% | — | ||
| Q3 25 | 0.4% | 7.2% | ||
| Q2 25 | 23.6% | -5.6% | ||
| Q1 25 | -16.9% | -2.9% | ||
| Q4 24 | 9.2% | 34.2% | ||
| Q3 24 | 4.5% | 8.3% | ||
| Q2 24 | -3.3% | 3.7% | ||
| Q1 24 | -9.9% | -8.8% |
资本支出强度HIIIPG
| Q4 25 | 3.9% | — | ||
| Q3 25 | 3.3% | 1.2% | ||
| Q2 25 | 3.1% | 1.2% | ||
| Q1 25 | 2.5% | 1.1% | ||
| Q4 24 | 3.8% | 1.4% | ||
| Q3 24 | 3.2% | 1.7% | ||
| Q2 24 | 3.0% | 1.5% | ||
| Q1 24 | 2.7% | 1.6% |
现金转化率HIIIPG
| Q4 25 | 4.09× | — | ||
| Q3 25 | 0.81× | 1.45× | ||
| Q2 25 | 5.41× | -0.59× | ||
| Q1 25 | -2.65× | — | ||
| Q4 24 | 3.18× | 2.52× | ||
| Q3 24 | 2.11× | 11.13× | ||
| Q2 24 | -0.05× | 0.56× | ||
| Q1 24 | -1.32× | -1.43× |
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
HII
| Aircraftcarriers | $984.0M | 28% |
| Fixedpriceincentive | $758.0M | 22% |
| Submarines | $744.0M | 21% |
| Surfacecombatantsandcoastguardcutters | $452.0M | 13% |
| Amphibiousassaultships | $433.0M | 12% |
| Costtype | $123.0M | 4% |
| Otherprograms | $4.0M | 0% |
IPG
| MDE | $619.0M | 29% |
| IAC | $574.9M | 27% |
| Other | $527.9M | 25% |
| SCE | $413.8M | 19% |
