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ICAHN ENTERPRISES L.P.（IEP）与HANOVER INSURANCE GROUP, INC.（THG）财务数据对比。点击上方公司名可切换其他公司
ICAHN ENTERPRISES L.P.的季度营收约是HANOVER INSURANCE GROUP, INC.的1.6倍（$2.7B vs $1.7B），HANOVER INSURANCE GROUP, INC.净利率更高（11.9% vs 0.0%，领先11.8%），HANOVER INSURANCE GROUP, INC.同比增速更快（5.5% vs 5.4%），HANOVER INSURANCE GROUP, INC.自由现金流更多（$377.0M vs $-496.0M），过去两年ICAHN ENTERPRISES L.P.的营收复合增速更高（4.5% vs 3.8%）
伊坎企业有限合伙企业是美国上市的 Master 有限合伙企业与多元化集团，总部位于佛罗里达州阳光岛海滩的弥尔顿大厦。公司投资布局覆盖能源、汽车、食品包装、金属、房地产、家居时尚等多个领域，由知名投资人卡尔·伊坎控股，其持股比例达86%。
汉诺威保险集团是总部位于美国马萨诸塞州伍斯特市的保险企业，1852年成立时主营财产责任保险，以原名公开上市交易，直至上世纪90年代初更名为Allmerica财产意外伤害保险公司。
IEP vs THG — 直观对比
营收规模更大
IEP
是对方的1.6倍
$1.7B
营收增速更快
THG
高出0.2%
5.4%
净利率更高
THG
高出11.8%
0.0%
自由现金流更多
THG
多$873.0M
$-496.0M
两年增速更快
IEP
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $1.7B |
| 净利润 | $1.0M | $198.5M |
| 毛利率 | — | — |
| 营业利润率 | 0.6% | 17.3% |
| 净利率 | 0.0% | 11.9% |
| 营收同比 | 5.4% | 5.5% |
| 净利润同比 | 101.0% | 18.2% |
| 每股收益（稀释后） | — | $5.46 |
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IEPTHG
| Q4 25 | $2.7B | $1.7B | ||
| Q3 25 | $2.7B | $1.7B | ||
| Q2 25 | $2.4B | $1.7B | ||
| Q1 25 | $1.9B | $1.6B | ||
| Q4 24 | $2.6B | $1.6B | ||
| Q3 24 | $2.8B | $1.6B | ||
| Q2 24 | $2.2B | $1.5B | ||
| Q1 24 | $2.5B | $1.6B |
净利润IEPTHG
| Q4 25 | $1.0M | $198.5M | ||
| Q3 25 | $287.0M | $178.7M | ||
| Q2 25 | $-165.0M | $157.1M | ||
| Q1 25 | $-422.0M | $128.2M | ||
| Q4 24 | $-98.0M | $167.9M | ||
| Q3 24 | $22.0M | $102.1M | ||
| Q2 24 | $-331.0M | $40.5M | ||
| Q1 24 | $-38.0M | $115.5M |
营业利润率IEPTHG
| Q4 25 | 0.6% | 17.3% | ||
| Q3 25 | 19.7% | 14.9% | ||
| Q2 25 | -10.4% | 12.7% | ||
| Q1 25 | -35.0% | 11.6% | ||
| Q4 24 | -5.2% | 16.1% | ||
| Q3 24 | 2.4% | 9.6% | ||
| Q2 24 | -21.9% | 6.2% | ||
| Q1 24 | -0.8% | 9.7% |
净利率IEPTHG
| Q4 25 | 0.0% | 11.9% | ||
| Q3 25 | 10.5% | 10.7% | ||
| Q2 25 | -7.0% | 9.5% | ||
| Q1 25 | -22.6% | 8.0% | ||
| Q4 24 | -3.8% | 10.6% | ||
| Q3 24 | 0.8% | 6.5% | ||
| Q2 24 | -15.0% | 2.6% | ||
| Q1 24 | -1.5% | 7.4% |
每股收益（稀释后）IEPTHG
| Q4 25 | — | $5.46 | ||
| Q3 25 | — | $4.90 | ||
| Q2 25 | — | $4.30 | ||
| Q1 25 | — | $3.50 | ||
| Q4 24 | — | $4.60 | ||
| Q3 24 | — | $2.80 | ||
| Q2 24 | — | $1.12 | ||
| Q1 24 | — | $3.18 |
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 | $1.4B | $1.1B |
| 总债务越低越好 | — | $843.3M |
| 股东权益账面价值 | — | $3.6B |
| 总资产 | $14.2B | $16.9B |
| 负债/权益比越低杠杆越低 | — | 0.24× |
8季度趋势，按日历期对齐
现金及短期投资IEPTHG
| Q4 25 | $1.4B | $1.1B | ||
| Q3 25 | $1.8B | $915.7M | ||
| Q2 25 | $1.8B | $244.1M | ||
| Q1 25 | $2.2B | $315.1M | ||
| Q4 24 | $2.6B | $435.5M | ||
| Q3 24 | $2.3B | $427.1M | ||
| Q2 24 | $2.2B | $337.6M | ||
| Q1 24 | $2.5B | $264.6M |
总债务IEPTHG
| Q4 25 | — | $843.3M | ||
| Q3 25 | — | $843.0M | ||
| Q2 25 | — | $347.8M | ||
| Q1 25 | — | $722.5M | ||
| Q4 24 | — | $722.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IEPTHG
| Q4 25 | — | $3.6B | ||
| Q3 25 | — | $3.4B | ||
| Q2 25 | — | $3.2B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | — | $2.6B | ||
| Q1 24 | — | $2.5B |
总资产IEPTHG
| Q4 25 | $14.2B | $16.9B | ||
| Q3 25 | $14.8B | $16.8B | ||
| Q2 25 | $14.8B | $15.7B | ||
| Q1 25 | $15.5B | $15.5B | ||
| Q4 24 | $16.3B | $15.3B | ||
| Q3 24 | $17.4B | $15.4B | ||
| Q2 24 | $18.0B | $14.9B | ||
| Q1 24 | $20.1B | $14.6B |
负债/权益比IEPTHG
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | 0.25× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.25× | ||
| 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 | $-421.0M | $378.2M |
| 自由现金流经营现金流 - 资本支出 | $-496.0M | $377.0M |
| 自由现金流率自由现金流/营收 | -18.4% | 22.6% |
| 资本支出强度资本支出/营收 | 2.8% | 0.1% |
| 现金转化率经营现金流/净利润 | -421.00× | 1.91× |
| 过去12个月自由现金流最近4个季度 | $-654.0M | $1.2B |
8季度趋势，按日历期对齐
经营现金流IEPTHG
| Q4 25 | $-421.0M | $378.2M | ||
| Q3 25 | $15.0M | $554.4M | ||
| Q2 25 | $275.0M | $206.6M | ||
| Q1 25 | $-182.0M | $38.9M | ||
| Q4 24 | $244.0M | $213.5M | ||
| Q3 24 | $-54.0M | $394.7M | ||
| Q2 24 | $893.0M | $139.5M | ||
| Q1 24 | $-251.0M | $58.7M |
自由现金流IEPTHG
| Q4 25 | $-496.0M | $377.0M | ||
| Q3 25 | $-67.0M | $551.4M | ||
| Q2 25 | $179.0M | $204.9M | ||
| Q1 25 | $-270.0M | $37.1M | ||
| Q4 24 | $156.0M | $210.5M | ||
| Q3 24 | $-112.0M | $392.3M | ||
| Q2 24 | $827.0M | $137.3M | ||
| Q1 24 | $-319.0M | $56.1M |
自由现金流率IEPTHG
| Q4 25 | -18.4% | 22.6% | ||
| Q3 25 | -2.5% | 33.1% | ||
| Q2 25 | 7.6% | 12.4% | ||
| Q1 25 | -14.5% | 2.3% | ||
| Q4 24 | 6.1% | 13.3% | ||
| Q3 24 | -4.0% | 25.1% | ||
| Q2 24 | 37.6% | 8.9% | ||
| Q1 24 | -12.9% | 3.6% |
资本支出强度IEPTHG
| Q4 25 | 2.8% | 0.1% | ||
| Q3 25 | 3.0% | 0.2% | ||
| Q2 25 | 4.1% | 0.1% | ||
| Q1 25 | 4.7% | 0.1% | ||
| Q4 24 | 3.4% | 0.2% | ||
| Q3 24 | 2.1% | 0.2% | ||
| Q2 24 | 3.0% | 0.1% | ||
| Q1 24 | 2.8% | 0.2% |
现金转化率IEPTHG
| Q4 25 | -421.00× | 1.91× | ||
| Q3 25 | 0.05× | 3.10× | ||
| Q2 25 | — | 1.32× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | -2.45× | 3.87× | ||
| Q2 24 | — | 3.44× | ||
| Q1 24 | — | 0.51× |
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
IEP
| Public Utilities Inventory Petroleum Products | $1.6B | 61% |
| Other | $381.0M | 14% |
| Automotive Services | $345.0M | 13% |
| Nitrogen Fertilizer Products | $131.0M | 5% |
| Food Packaging Segment | $82.0M | 3% |
| Home Fashion Segment | $45.0M | 2% |
| Renewable Products | $32.0M | 1% |
| Pharma Segment | $23.0M | 1% |
| Holding Company | $11.0M | 0% |
THG
| Personal Lines Segment | $684.6M | 41% |
| Core Commercial Lines Segment | $617.8M | 37% |
| Specialty Lines Segment | $377.9M | 23% |
