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慧与（HPE）与英格拉姆微（INGM）财务数据对比。点击上方公司名可切换其他公司
英格拉姆微的季度营收约是慧与的1.5倍（$14.9B vs $9.7B），慧与净利率更高（1.8% vs 0.8%，领先1.0%），慧与自由现金流更多（$1.8B vs $1.5B）
慧与（Hewlett Packard Enterprise，简称HPE）是总部位于美国得克萨斯州斯普林的跨国信息技术企业，面向企业客户提供服务器、存储、网络、容器化软件及配套咨询与技术支持服务，2018年位列美国《财富》500强美国企业营收排行榜第107位。
英格拉姆微控股是全球知名的信息技术产品及服务分销商，总部位于美国加利福尼亚州欧文市，业务覆盖全球各地。公司前身为1979年在加州成立的Micro D, Inc，最初是传统分销商，主营向经销商推广、销售及交付厂商产品，目前正向聚焦数字体验的平台化业务方向转型。
HPE vs INGM — 直观对比
营收规模更大
INGM
是对方的1.5倍
$9.7B
净利率更高
HPE
高出1.0%
0.8%
自由现金流更多
HPE
多$300.3M
$1.5B
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $9.7B | $14.9B |
| 净利润 | $175.0M | $121.4M |
| 毛利率 | — | 6.5% |
| 营业利润率 | -0.1% | 2.1% |
| 净利率 | 1.8% | 0.8% |
| 营收同比 | 14.4% | — |
| 净利润同比 | -87.2% | — |
| 每股收益（稀释后） | $0.13 | $0.52 |
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HPEINGM
| Q4 25 | $9.7B | $14.9B | ||
| Q3 25 | $9.1B | $12.6B | ||
| Q2 25 | $7.6B | $12.8B | ||
| Q1 25 | $7.9B | $12.3B | ||
| Q4 24 | $8.5B | — | ||
| Q3 24 | $7.7B | $11.8B | ||
| Q2 24 | $7.2B | $11.5B | ||
| Q1 24 | $6.8B | $11.3B |
净利润HPEINGM
| Q4 25 | $175.0M | $121.4M | ||
| Q3 25 | $305.0M | $99.5M | ||
| Q2 25 | $-1.1B | $37.8M | ||
| Q1 25 | $627.0M | $69.2M | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $512.0M | $77.0M | ||
| Q2 24 | $314.0M | $54.6M | ||
| Q1 24 | $387.0M | $49.6M |
毛利率HPEINGM
| Q4 25 | — | 6.5% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | — | 6.6% | ||
| Q1 25 | — | 6.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 7.2% | ||
| Q2 24 | — | 7.2% | ||
| Q1 24 | — | 7.4% |
营业利润率HPEINGM
| Q4 25 | -0.1% | 2.1% | ||
| Q3 25 | 2.7% | 1.8% | ||
| Q2 25 | -14.5% | 1.1% | ||
| Q1 25 | 5.5% | 1.6% | ||
| Q4 24 | 8.2% | — | ||
| Q3 24 | 7.1% | 1.9% | ||
| Q2 24 | 5.9% | 1.6% | ||
| Q1 24 | 7.8% | 1.5% |
净利率HPEINGM
| Q4 25 | 1.8% | 0.8% | ||
| Q3 25 | 3.3% | 0.8% | ||
| Q2 25 | -13.8% | 0.3% | ||
| Q1 25 | 8.0% | 0.6% | ||
| Q4 24 | 16.2% | — | ||
| Q3 24 | 6.6% | 0.7% | ||
| Q2 24 | 4.4% | 0.5% | ||
| Q1 24 | 5.7% | 0.4% |
每股收益（稀释后）HPEINGM
| Q4 25 | $0.13 | $0.52 | ||
| Q3 25 | $0.21 | $0.42 | ||
| Q2 25 | $-0.82 | $0.16 | ||
| Q1 25 | $0.44 | $0.29 | ||
| Q4 24 | $1.02 | — | ||
| Q3 24 | $0.38 | $0.35 | ||
| Q2 24 | $0.24 | $0.25 | ||
| Q1 24 | $0.29 | $0.22 |
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 | $5.8B | $1.9B |
| 总债务越低越好 | $17.8B | $3.2B |
| 股东权益账面价值 | $24.7B | $4.2B |
| 总资产 | $75.9B | $21.2B |
| 负债/权益比越低杠杆越低 | 0.72× | 0.75× |
8季度趋势，按日历期对齐
现金及短期投资HPEINGM
| Q4 25 | $5.8B | $1.9B | ||
| Q3 25 | $4.6B | $802.6M | ||
| Q2 25 | $11.7B | $856.7M | ||
| Q1 25 | $13.4B | $881.6M | ||
| Q4 24 | $14.8B | — | ||
| Q3 24 | $3.6B | $849.5M | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $3.8B | — |
总债务HPEINGM
| Q4 25 | $17.8B | $3.2B | ||
| Q3 25 | $16.9B | $3.8B | ||
| Q2 25 | $12.4B | $3.7B | ||
| Q1 25 | $13.3B | $3.5B | ||
| Q4 24 | $13.5B | — | ||
| Q3 24 | $7.9B | $3.8B | ||
| Q2 24 | $7.5B | — | ||
| Q1 24 | $7.8B | — |
股东权益HPEINGM
| Q4 25 | $24.7B | $4.2B | ||
| Q3 25 | $24.4B | $4.1B | ||
| Q2 25 | $23.9B | $4.0B | ||
| Q1 25 | $25.2B | $3.9B | ||
| Q4 24 | $24.8B | — | ||
| Q3 24 | $22.1B | $3.6B | ||
| Q2 24 | $21.7B | $3.5B | ||
| Q1 24 | $21.4B | $3.5B |
总资产HPEINGM
| Q4 25 | $75.9B | $21.2B | ||
| Q3 25 | $77.3B | $19.2B | ||
| Q2 25 | $67.9B | $19.5B | ||
| Q1 25 | $70.3B | $18.6B | ||
| Q4 24 | $71.3B | — | ||
| Q3 24 | $60.9B | $18.6B | ||
| Q2 24 | $59.7B | — | ||
| Q1 24 | $58.6B | $17.6B |
负债/权益比HPEINGM
| Q4 25 | 0.72× | 0.75× | ||
| Q3 25 | 0.69× | 0.93× | ||
| Q2 25 | 0.52× | 0.92× | ||
| Q1 25 | 0.53× | 0.90× | ||
| Q4 24 | 0.54× | — | ||
| Q3 24 | 0.36× | 1.06× | ||
| Q2 24 | 0.35× | — | ||
| Q1 24 | 0.37× | — |
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 | $2.5B | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $1.8B | $1.5B |
| 自由现金流率自由现金流/营收 | 18.8% | 10.2% |
| 资本支出强度资本支出/营收 | 6.6% | 0.2% |
| 现金转化率经营现金流/净利润 | 14.09× | 12.85× |
| 过去12个月自由现金流最近4个季度 | $627.0M | $785.4M |
8季度趋势，按日历期对齐
经营现金流HPEINGM
| Q4 25 | $2.5B | $1.6B | ||
| Q3 25 | $1.3B | $-146.0M | ||
| Q2 25 | $-461.0M | $-298.0M | ||
| Q1 25 | $-390.0M | $-200.4M | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $1.2B | $-277.0M | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $64.0M | $-100.3M |
自由现金流HPEINGM
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $729.0M | $-175.0M | ||
| Q2 25 | $-1.0B | $-333.2M | ||
| Q1 25 | $-918.0M | $-230.2M | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $611.0M | $-315.0M | ||
| Q2 24 | $533.0M | — | ||
| Q1 24 | $-592.0M | $-135.8M |
自由现金流率HPEINGM
| Q4 25 | 18.8% | 10.2% | ||
| Q3 25 | 8.0% | -1.4% | ||
| Q2 25 | -13.2% | -2.6% | ||
| Q1 25 | -11.7% | -1.9% | ||
| Q4 24 | 16.8% | — | ||
| Q3 24 | 7.9% | -2.7% | ||
| Q2 24 | 7.4% | — | ||
| Q1 24 | -8.8% | -1.2% |
资本支出强度HPEINGM
| Q4 25 | 6.6% | 0.2% | ||
| Q3 25 | 6.3% | 0.2% | ||
| Q2 25 | 7.2% | 0.3% | ||
| Q1 25 | 6.7% | 0.2% | ||
| Q4 24 | 7.2% | — | ||
| Q3 24 | 7.0% | 0.3% | ||
| Q2 24 | 7.8% | — | ||
| Q1 24 | 9.7% | 0.3% |
现金转化率HPEINGM
| Q4 25 | 14.09× | 12.85× | ||
| Q3 25 | 4.28× | -1.47× | ||
| Q2 25 | — | -7.88× | ||
| Q1 25 | -0.62× | -2.90× | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | 2.25× | -3.60× | ||
| Q2 24 | 3.48× | — | ||
| Q1 24 | 0.17× | -2.02× |
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
HPE
| Products | $6.2B | 64% |
| Services | $3.3B | 34% |
| Other | $199.0M | 2% |
INGM
暂无分部数据
