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IAC Inc.（IAC）与盛思阳（TSE）财务数据对比。点击上方公司名可切换其他公司
盛思阳的季度营收约是IAC Inc.的1.0倍（$662.6M vs $646.0M），IAC Inc.净利率更高（-11.9% vs -37.9%，领先26.1%），IAC Inc.同比增速更快（-10.5% vs -19.3%），IAC Inc.自由现金流更多（$31.4M vs $6.6M），过去两年IAC Inc.的营收复合增速更高（1.7% vs -14.4%）
IAC Inc.是一家美国控股企业，业务覆盖媒体与互联网领域，在全球拥有多个知名品牌。公司前身是1996年成立的HSN Inc.，当时作为家庭购物频道Home Shopping Network和USA电视台的控股主体运营，1999年更名为USA Networks Inc.，2002年将旗下电视业务资产出售给威望迪集团。
盛思阳（Trinseo）是一家专注于塑料与乳胶粘合剂生产的材料企业。该公司原隶属于陶氏化学公司，2009年陶氏将其分拆待售，2010年相关资产以斯泰隆（Styron）之名作价16.3亿美元出售给贝恩资本。2016年贝恩清仓全部持股， Trinseo自此成为完全独立的公众上市公司。
IAC vs TSE — 直观对比
营收规模更大
TSE
是对方的1.0倍
$646.0M
营收增速更快
IAC
高出8.9%
-19.3%
净利率更高
IAC
高出26.1%
-37.9%
自由现金流更多
IAC
多$24.8M
$6.6M
两年增速更快
IAC
近两年复合增速
-14.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $646.0M | $662.6M |
| 净利润 | $-76.8M | $-251.4M |
| 毛利率 | 69.8% | 4.2% |
| 营业利润率 | -17.5% | -24.7% |
| 净利率 | -11.9% | -37.9% |
| 营收同比 | -10.5% | -19.3% |
| 净利润同比 | 61.4% | -113.2% |
| 每股收益（稀释后） | $-0.96 | $-7.02 |
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IACTSE
| Q4 25 | $646.0M | $662.6M | ||
| Q3 25 | $589.8M | $743.2M | ||
| Q2 25 | $586.9M | $784.3M | ||
| Q1 25 | $570.5M | $784.8M | ||
| Q4 24 | $721.4M | $821.5M | ||
| Q3 24 | $642.0M | $867.7M | ||
| Q2 24 | $634.4M | $920.0M | ||
| Q1 24 | $624.3M | $904.0M |
净利润IACTSE
| Q4 25 | $-76.8M | $-251.4M | ||
| Q3 25 | $-21.9M | $-109.7M | ||
| Q2 25 | $211.5M | $-105.5M | ||
| Q1 25 | $-216.8M | $-79.0M | ||
| Q4 24 | $-199.0M | $-117.9M | ||
| Q3 24 | $-243.7M | $-87.3M | ||
| Q2 24 | $-142.2M | $-67.8M | ||
| Q1 24 | $45.0M | $-75.5M |
毛利率IACTSE
| Q4 25 | 69.8% | 4.2% | ||
| Q3 25 | 64.8% | 5.0% | ||
| Q2 25 | 65.6% | 4.7% | ||
| Q1 25 | 64.0% | 8.1% | ||
| Q4 24 | 65.8% | 6.8% | ||
| Q3 24 | 62.1% | 9.3% | ||
| Q2 24 | 60.1% | 7.4% | ||
| Q1 24 | 58.4% | 6.7% |
营业利润率IACTSE
| Q4 25 | -17.5% | -24.7% | ||
| Q3 25 | -3.5% | -3.8% | ||
| Q2 25 | 0.1% | -4.2% | ||
| Q1 25 | 6.3% | -3.7% | ||
| Q4 24 | 6.7% | -5.4% | ||
| Q3 24 | 1.3% | -1.4% | ||
| Q2 24 | -3.4% | 1.5% | ||
| Q1 24 | -10.2% | -0.4% |
净利率IACTSE
| Q4 25 | -11.9% | -37.9% | ||
| Q3 25 | -3.7% | -14.8% | ||
| Q2 25 | 36.0% | -13.5% | ||
| Q1 25 | -38.0% | -10.1% | ||
| Q4 24 | -27.6% | -14.4% | ||
| Q3 24 | -38.0% | -10.1% | ||
| Q2 24 | -22.4% | -7.4% | ||
| Q1 24 | 7.2% | -8.4% |
每股收益（稀释后）IACTSE
| Q4 25 | $-0.96 | $-7.02 | ||
| Q3 25 | $-0.27 | $-3.05 | ||
| Q2 25 | $2.57 | $-2.95 | ||
| Q1 25 | $-2.64 | $-2.22 | ||
| Q4 24 | $-2.36 | $-3.33 | ||
| Q3 24 | $-2.93 | $-2.47 | ||
| Q2 24 | $-1.71 | $-1.92 | ||
| Q1 24 | $0.51 | $-2.14 |
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 | $960.2M | $146.7M |
| 总债务越低越好 | $1.4B | $2.5B |
| 股东权益账面价值 | $4.7B | $-1.1B |
| 总资产 | $7.1B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.30× | — |
8季度趋势，按日历期对齐
现金及短期投资IACTSE
| Q4 25 | $960.2M | $146.7M | ||
| Q3 25 | $1.0B | $112.1M | ||
| Q2 25 | $1.1B | $137.0M | ||
| Q1 25 | $1.2B | $126.1M | ||
| Q4 24 | $1.4B | $209.8M | ||
| Q3 24 | $1.3B | $165.3M | ||
| Q2 24 | $1.3B | $105.6M | ||
| Q1 24 | $1.3B | $166.4M |
总债务IACTSE
| Q4 25 | $1.4B | $2.5B | ||
| Q3 25 | $1.4B | $2.5B | ||
| Q2 25 | $1.4B | $2.5B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | $2.3B |
股东权益IACTSE
| Q4 25 | $4.7B | $-1.1B | ||
| Q3 25 | $4.8B | $-861.6M | ||
| Q2 25 | $4.9B | $-750.3M | ||
| Q1 25 | $4.7B | $-679.2M | ||
| Q4 24 | $5.6B | $-619.9M | ||
| Q3 24 | $5.8B | $-480.0M | ||
| Q2 24 | $6.0B | $-413.8M | ||
| Q1 24 | $6.1B | $-348.0M |
总资产IACTSE
| Q4 25 | $7.1B | $2.3B | ||
| Q3 25 | $7.2B | $2.5B | ||
| Q2 25 | $7.4B | $2.6B | ||
| Q1 25 | $7.2B | $2.7B | ||
| Q4 24 | $9.7B | $2.6B | ||
| Q3 24 | $9.8B | $2.9B | ||
| Q2 24 | $10.2B | $2.8B | ||
| Q1 24 | $10.4B | $3.0B |
负债/权益比IACTSE
| Q4 25 | 0.30× | — | ||
| Q3 25 | 0.30× | — | ||
| Q2 25 | 0.30× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $36.6M | $22.6M |
| 自由现金流经营现金流 - 资本支出 | $31.4M | $6.6M |
| 自由现金流率自由现金流/营收 | 4.9% | 1.0% |
| 资本支出强度资本支出/营收 | 0.8% | 2.4% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $44.8M | $-153.4M |
8季度趋势，按日历期对齐
经营现金流IACTSE
| Q4 25 | $36.6M | $22.6M | ||
| Q3 25 | $30.1M | $-21.6M | ||
| Q2 25 | $-2.8M | $6.8M | ||
| Q1 25 | $63.0K | $-110.2M | ||
| Q4 24 | $110.1M | $85.1M | ||
| Q3 24 | $95.3M | $8.8M | ||
| Q2 24 | $85.0M | $-41.9M | ||
| Q1 24 | $64.1M | $-66.2M |
自由现金流IACTSE
| Q4 25 | $31.4M | $6.6M | ||
| Q3 25 | $25.3M | $-38.1M | ||
| Q2 25 | $-7.2M | $-3.0M | ||
| Q1 25 | $-4.6M | $-118.9M | ||
| Q4 24 | $104.8M | $63.9M | ||
| Q3 24 | $92.0M | $-3.4M | ||
| Q2 24 | $81.6M | $-56.1M | ||
| Q1 24 | $61.1M | $-81.9M |
自由现金流率IACTSE
| Q4 25 | 4.9% | 1.0% | ||
| Q3 25 | 4.3% | -5.1% | ||
| Q2 25 | -1.2% | -0.4% | ||
| Q1 25 | -0.8% | -15.2% | ||
| Q4 24 | 14.5% | 7.8% | ||
| Q3 24 | 14.3% | -0.4% | ||
| Q2 24 | 12.9% | -6.1% | ||
| Q1 24 | 9.8% | -9.1% |
资本支出强度IACTSE
| Q4 25 | 0.8% | 2.4% | ||
| Q3 25 | 0.8% | 2.2% | ||
| Q2 25 | 0.8% | 1.2% | ||
| Q1 25 | 0.8% | 1.1% | ||
| Q4 24 | 0.7% | 2.6% | ||
| Q3 24 | 0.5% | 1.4% | ||
| Q2 24 | 0.5% | 1.5% | ||
| Q1 24 | 0.5% | 1.7% |
现金转化率IACTSE
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.01× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.42× | — |
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
IAC
| $168.5M | 26% | |
| Performance Marketing | $101.2M | 16% |
| Care.com | $85.7M | 13% |
| Subscription | $69.5M | 11% |
| Licensing And Other | $43.8M | 7% |
| Consumer Revenue | $43.2M | 7% |
| Advertising | $35.9M | 6% |
| Project And Other Print | $33.6M | 5% |
| Advertising Google | $28.9M | 4% |
| Newsstand | $22.4M | 3% |
| Emerging Other | $19.6M | 3% |
TSE
| Other | $325.2M | 49% |
| Asia Pacific | $142.2M | 21% |
| Engineered Materials | $105.0M | 16% |
| Latex | $59.9M | 9% |
| Polymer Solutions | $30.3M | 5% |
