vs
IMAX（IMAX）与IONIS PHARMACEUTICALS INC（IONS）财务数据对比。点击上方公司名可切换其他公司
IONIS PHARMACEUTICALS INC的季度营收约是IMAX的1.6倍（$203.3M vs $125.2M），IMAX净利率更高（0.5% vs -112.8%，领先113.3%），IMAX同比增速更快（35.1% vs -10.3%），IMAX自由现金流更多（$28.0M vs $-159.0M），过去两年IONIS PHARMACEUTICALS INC的营收复合增速更高（30.4% vs 25.8%）
IMAX公司是加拿大的影视放映技术企业，1967年创立于蒙特利尔，总部位于多伦多地区，在纽约、洛杉矶均设有业务点。核心业务包括IMAX摄影机与放映系统的设计制造，同时面向全球合作影院提供影片开发、制作、后期及发行服务，是沉浸式观影技术领域的领先企业。
IONIS制药是1989年成立的生物科技企业，总部位于美国加利福尼亚州卡尔斯巴德，专注于反义疗法、RNA干扰及CRISPR疗法的研发，2015年12月前曾以Isis制药的名称运营。
IMAX vs IONS — 直观对比
营收规模更大
IONS
是对方的1.6倍
$125.2M
营收增速更快
IMAX
高出45.4%
-10.3%
净利率更高
IMAX
高出113.3%
-112.8%
自由现金流更多
IMAX
多$187.0M
$-159.0M
两年增速更快
IONS
近两年复合增速
25.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $125.2M | $203.3M |
| 净利润 | $637.0K | $-229.4M |
| 毛利率 | 57.6% | 96.1% |
| 营业利润率 | 19.3% | -105.5% |
| 净利率 | 0.5% | -112.8% |
| 营收同比 | 35.1% | -10.3% |
| 净利润同比 | -88.0% | -119.8% |
| 每股收益（稀释后） | $0.02 | $-1.35 |
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IMAXIONS
| Q4 25 | $125.2M | $203.3M | ||
| Q3 25 | $106.7M | $156.7M | ||
| Q2 25 | $91.7M | $452.0M | ||
| Q1 25 | $86.7M | $131.6M | ||
| Q4 24 | $92.7M | $226.6M | ||
| Q3 24 | $91.5M | $133.8M | ||
| Q2 24 | $89.0M | $225.3M | ||
| Q1 24 | $79.1M | $119.5M |
净利润IMAXIONS
| Q4 25 | $637.0K | $-229.4M | ||
| Q3 25 | $20.7M | $-128.6M | ||
| Q2 25 | $11.3M | $123.6M | ||
| Q1 25 | $2.3M | $-146.9M | ||
| Q4 24 | $5.3M | $-104.3M | ||
| Q3 24 | $13.9M | $-140.5M | ||
| Q2 24 | $3.6M | $-66.3M | ||
| Q1 24 | $3.3M | $-142.8M |
毛利率IMAXIONS
| Q4 25 | 57.6% | 96.1% | ||
| Q3 25 | 63.1% | 98.5% | ||
| Q2 25 | 58.5% | 99.1% | ||
| Q1 25 | 61.4% | 98.9% | ||
| Q4 24 | 52.2% | 98.3% | ||
| Q3 24 | 55.8% | 99.2% | ||
| Q2 24 | 49.4% | 98.2% | ||
| Q1 24 | 59.3% | 98.2% |
营业利润率IMAXIONS
| Q4 25 | 19.3% | -105.5% | ||
| Q3 25 | 27.2% | -102.2% | ||
| Q2 25 | 15.6% | 30.9% | ||
| Q1 25 | 19.3% | -111.6% | ||
| Q4 24 | 10.3% | -48.9% | ||
| Q3 24 | 21.2% | -111.1% | ||
| Q2 24 | 3.2% | -29.3% | ||
| Q1 24 | 15.3% | -125.1% |
净利率IMAXIONS
| Q4 25 | 0.5% | -112.8% | ||
| Q3 25 | 19.4% | -82.1% | ||
| Q2 25 | 12.3% | 27.3% | ||
| Q1 25 | 2.7% | -111.6% | ||
| Q4 24 | 5.7% | -46.1% | ||
| Q3 24 | 15.2% | -105.0% | ||
| Q2 24 | 4.0% | -29.4% | ||
| Q1 24 | 4.1% | -119.5% |
每股收益（稀释后）IMAXIONS
| Q4 25 | $0.02 | $-1.35 | ||
| Q3 25 | $0.37 | $-0.80 | ||
| Q2 25 | $0.20 | $0.70 | ||
| Q1 25 | $0.04 | $-0.93 | ||
| Q4 24 | $0.09 | $-0.66 | ||
| Q3 24 | $0.26 | $-0.95 | ||
| Q2 24 | $0.07 | $-0.45 | ||
| Q1 24 | $0.06 | $-0.98 |
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 | $151.2M | $2.7B |
| 总债务越低越好 | — | $1.8B |
| 股东权益账面价值 | $337.9M | $489.1M |
| 总资产 | $894.0M | $3.5B |
| 负债/权益比越低杠杆越低 | — | 3.71× |
8季度趋势，按日历期对齐
现金及短期投资IMAXIONS
| Q4 25 | $151.2M | $2.7B | ||
| Q3 25 | $143.1M | $2.2B | ||
| Q2 25 | $109.3M | $2.3B | ||
| Q1 25 | $97.1M | $2.1B | ||
| Q4 24 | $100.6M | $2.3B | ||
| Q3 24 | $104.5M | $2.5B | ||
| Q2 24 | $91.6M | $2.1B | ||
| Q1 24 | $81.0M | $2.2B |
总债务IMAXIONS
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IMAXIONS
| Q4 25 | $337.9M | $489.1M | ||
| Q3 25 | $349.5M | $618.0M | ||
| Q2 25 | $320.4M | $631.7M | ||
| Q1 25 | $299.5M | $475.7M | ||
| Q4 24 | $299.5M | $588.4M | ||
| Q3 24 | $289.4M | $662.5M | ||
| Q2 24 | $267.2M | $263.7M | ||
| Q1 24 | $258.8M | $296.5M |
总资产IMAXIONS
| Q4 25 | $894.0M | $3.5B | ||
| Q3 25 | $889.6M | $3.0B | ||
| Q2 25 | $868.6M | $3.0B | ||
| Q1 25 | $848.3M | $2.8B | ||
| Q4 24 | $830.4M | $3.0B | ||
| Q3 24 | $847.6M | $3.1B | ||
| Q2 24 | $827.4M | $2.7B | ||
| Q1 24 | $824.1M | $2.8B |
负债/权益比IMAXIONS
| Q4 25 | — | 3.71× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.13× | ||
| 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 | $29.4M | $-137.7M |
| 自由现金流经营现金流 - 资本支出 | $28.0M | $-159.0M |
| 自由现金流率自由现金流/营收 | 22.3% | -78.2% |
| 资本支出强度资本支出/营收 | 1.1% | 10.5% |
| 现金转化率经营现金流/净利润 | 46.11× | — |
| 过去12个月自由现金流最近4个季度 | $118.9M | $-320.0M |
8季度趋势，按日历期对齐
经营现金流IMAXIONS
| Q4 25 | $29.4M | $-137.7M | ||
| Q3 25 | $67.5M | $-131.4M | ||
| Q2 25 | $23.2M | $151.3M | ||
| Q1 25 | $7.0M | $-150.8M | ||
| Q4 24 | $11.5M | $-116.1M | ||
| Q3 24 | $35.3M | $-115.0M | ||
| Q2 24 | $35.0M | $-119.9M | ||
| Q1 24 | $-11.0M | $-149.9M |
自由现金流IMAXIONS
| Q4 25 | $28.0M | $-159.0M | ||
| Q3 25 | $64.8M | $-136.7M | ||
| Q2 25 | $20.9M | $139.0M | ||
| Q1 25 | $5.3M | $-163.4M | ||
| Q4 24 | $6.9M | $-141.6M | ||
| Q3 24 | $34.2M | $-124.0M | ||
| Q2 24 | $33.5M | $-126.1M | ||
| Q1 24 | $-12.1M | $-154.4M |
自由现金流率IMAXIONS
| Q4 25 | 22.3% | -78.2% | ||
| Q3 25 | 60.7% | -87.2% | ||
| Q2 25 | 22.8% | 30.8% | ||
| Q1 25 | 6.1% | -124.1% | ||
| Q4 24 | 7.4% | -62.5% | ||
| Q3 24 | 37.3% | -92.7% | ||
| Q2 24 | 37.6% | -56.0% | ||
| Q1 24 | -15.3% | -129.2% |
资本支出强度IMAXIONS
| Q4 25 | 1.1% | 10.5% | ||
| Q3 25 | 2.6% | 3.4% | ||
| Q2 25 | 2.6% | 2.7% | ||
| Q1 25 | 1.9% | 9.6% | ||
| Q4 24 | 5.0% | 11.3% | ||
| Q3 24 | 1.2% | 6.8% | ||
| Q2 24 | 1.8% | 2.8% | ||
| Q1 24 | 1.4% | 3.8% |
现金转化率IMAXIONS
| Q4 25 | 46.11× | — | ||
| Q3 25 | 3.27× | — | ||
| Q2 25 | 2.06× | 1.22× | ||
| Q1 25 | 2.99× | — | ||
| Q4 24 | 2.16× | — | ||
| Q3 24 | 2.54× | — | ||
| Q2 24 | 9.78× | — | ||
| Q1 24 | -3.35× | — |
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
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
IONS
| Products | $58.0M | 29% |
| Spinraza Royalties | $54.0M | 27% |
| Collaborative Agreement Revenue | $52.4M | 26% |
| Wainus Royalties | $16.0M | 8% |
| Wainua Joint Development Revenue | $9.6M | 5% |
| Other Commercial | $7.6M | 4% |
| Other Royalties | $5.7M | 3% |
