vs
IMAX（IMAX）与铱星通信（IRDM）财务数据对比。点击上方公司名可切换其他公司
铱星通信的季度营收约是IMAX的1.7倍（$219.1M vs $125.2M），铱星通信净利率更高（9.9% vs 0.5%，领先9.3%），IMAX同比增速更快（35.1% vs 1.9%），过去两年IMAX的营收复合增速更高（25.8% vs 4.4%）
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。
铱星通信是一家总部位于美国弗吉尼亚州麦克莱恩的上市企业，运营着由80颗卫星组成的铱星星座，其中66颗为工作星，14颗为在轨备用星。其卫星网络支持手持卫星电话、卫星通信终端及集成收发设备实现全球范围的语音和数据传输，还可提供双向卫星消息服务，满足全球各场景的通信需求。
IMAX vs IRDM — 直观对比
营收规模更大
IRDM
是对方的1.7倍
$125.2M
营收增速更快
IMAX
高出33.2%
1.9%
净利率更高
IRDM
高出9.3%
0.5%
两年增速更快
IMAX
近两年复合增速
4.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $125.2M | $219.1M |
| 净利润 | $637.0K | $21.6M |
| 毛利率 | 57.6% | — |
| 营业利润率 | 19.3% | 23.2% |
| 净利率 | 0.5% | 9.9% |
| 营收同比 | 35.1% | 1.9% |
| 净利润同比 | -88.0% | — |
| 每股收益（稀释后） | $0.02 | — |
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IMAXIRDM
| Q1 26 | — | $219.1M | ||
| Q4 25 | $125.2M | $212.9M | ||
| Q3 25 | $106.7M | $226.9M | ||
| Q2 25 | $91.7M | $216.9M | ||
| Q1 25 | $86.7M | $214.9M | ||
| Q4 24 | $92.7M | $213.0M | ||
| Q3 24 | $91.5M | $212.8M | ||
| Q2 24 | $89.0M | $201.1M |
净利润IMAXIRDM
| Q1 26 | — | $21.6M | ||
| Q4 25 | $637.0K | $24.9M | ||
| Q3 25 | $20.7M | $37.1M | ||
| Q2 25 | $11.3M | $22.0M | ||
| Q1 25 | $2.3M | $30.4M | ||
| Q4 24 | $5.3M | $36.3M | ||
| Q3 24 | $13.9M | $24.4M | ||
| Q2 24 | $3.6M | $32.3M |
毛利率IMAXIRDM
| Q1 26 | — | — | ||
| Q4 25 | 57.6% | — | ||
| Q3 25 | 63.1% | — | ||
| Q2 25 | 58.5% | — | ||
| Q1 25 | 61.4% | — | ||
| Q4 24 | 52.2% | — | ||
| Q3 24 | 55.8% | — | ||
| Q2 24 | 49.4% | — |
营业利润率IMAXIRDM
| Q1 26 | — | 23.2% | ||
| Q4 25 | 19.3% | 25.9% | ||
| Q3 25 | 27.2% | 30.9% | ||
| Q2 25 | 15.6% | 23.2% | ||
| Q1 25 | 19.3% | 28.1% | ||
| Q4 24 | 10.3% | 24.5% | ||
| Q3 24 | 21.2% | 25.8% | ||
| Q2 24 | 3.2% | 21.7% |
净利率IMAXIRDM
| Q1 26 | — | 9.9% | ||
| Q4 25 | 0.5% | 11.7% | ||
| Q3 25 | 19.4% | 16.4% | ||
| Q2 25 | 12.3% | 10.1% | ||
| Q1 25 | 2.7% | 14.2% | ||
| Q4 24 | 5.7% | 17.1% | ||
| Q3 24 | 15.2% | 11.5% | ||
| Q2 24 | 4.0% | 16.1% |
每股收益（稀释后）IMAXIRDM
| Q1 26 | — | — | ||
| Q4 25 | $0.02 | $0.24 | ||
| Q3 25 | $0.37 | $0.35 | ||
| Q2 25 | $0.20 | $0.20 | ||
| Q1 25 | $0.04 | $0.27 | ||
| Q4 24 | $0.09 | $0.30 | ||
| Q3 24 | $0.26 | $0.21 | ||
| Q2 24 | $0.07 | $0.27 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $337.9M | — |
| 总资产 | $894.0M | — |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资IMAXIRDM
| Q1 26 | — | — | ||
| Q4 25 | $151.2M | $96.5M | ||
| Q3 25 | $143.1M | $88.5M | ||
| Q2 25 | $109.3M | $79.3M | ||
| Q1 25 | $97.1M | $50.9M | ||
| Q4 24 | $100.6M | $93.5M | ||
| Q3 24 | $104.5M | $159.6M | ||
| Q2 24 | $91.6M | $63.5M |
总债务IMAXIRDM
| Q1 26 | — | — | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益IMAXIRDM
| Q1 26 | — | — | ||
| Q4 25 | $337.9M | $462.6M | ||
| Q3 25 | $349.5M | $450.5M | ||
| Q2 25 | $320.4M | $473.6M | ||
| Q1 25 | $299.5M | $518.4M | ||
| Q4 24 | $299.5M | $576.6M | ||
| Q3 24 | $289.4M | $663.8M | ||
| Q2 24 | $267.2M | $786.7M |
总资产IMAXIRDM
| Q1 26 | — | — | ||
| Q4 25 | $894.0M | $2.5B | ||
| Q3 25 | $889.6M | $2.6B | ||
| Q2 25 | $868.6M | $2.6B | ||
| Q1 25 | $848.3M | $2.6B | ||
| Q4 24 | $830.4M | $2.7B | ||
| Q3 24 | $847.6M | $2.8B | ||
| Q2 24 | $827.4M | $2.7B |
负债/权益比IMAXIRDM
| Q1 26 | — | — | ||
| Q4 25 | — | 3.80× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.05× | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| 自由现金流经营现金流 - 资本支出 | $28.0M | — |
| 自由现金流率自由现金流/营收 | 22.3% | — |
| 资本支出强度资本支出/营收 | 1.1% | 13.7% |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流IMAXIRDM
| Q1 26 | — | — | ||
| Q4 25 | $29.4M | $108.6M | ||
| Q3 25 | $67.5M | $100.8M | ||
| Q2 25 | $23.2M | $129.6M | ||
| Q1 25 | $7.0M | $61.1M | ||
| Q4 24 | $11.5M | $104.8M | ||
| Q3 24 | $35.3M | $118.6M | ||
| Q2 24 | $35.0M | $81.1M |
自由现金流IMAXIRDM
| Q1 26 | — | — | ||
| Q4 25 | $28.0M | $75.1M | ||
| Q3 25 | $64.8M | $79.2M | ||
| Q2 25 | $20.9M | $108.9M | ||
| Q1 25 | $5.3M | $36.5M | ||
| Q4 24 | $6.9M | $80.5M | ||
| Q3 24 | $34.2M | $100.0M | ||
| Q2 24 | $33.5M | $68.7M |
自由现金流率IMAXIRDM
| Q1 26 | — | — | ||
| Q4 25 | 22.3% | 35.3% | ||
| Q3 25 | 60.7% | 34.9% | ||
| Q2 25 | 22.8% | 50.2% | ||
| Q1 25 | 6.1% | 17.0% | ||
| Q4 24 | 7.4% | 37.8% | ||
| Q3 24 | 37.3% | 47.0% | ||
| Q2 24 | 37.6% | 34.2% |
资本支出强度IMAXIRDM
| Q1 26 | — | 13.7% | ||
| Q4 25 | 1.1% | 15.7% | ||
| Q3 25 | 2.6% | 9.5% | ||
| Q2 25 | 2.6% | 9.5% | ||
| Q1 25 | 1.9% | 11.4% | ||
| Q4 24 | 5.0% | 11.4% | ||
| Q3 24 | 1.2% | 8.7% | ||
| Q2 24 | 1.8% | 6.2% |
现金转化率IMAXIRDM
| Q1 26 | — | — | ||
| Q4 25 | 46.11× | 4.37× | ||
| Q3 25 | 3.27× | 2.71× | ||
| Q2 25 | 2.06× | 5.90× | ||
| Q1 25 | 2.99× | 2.01× | ||
| Q4 24 | 2.16× | 2.88× | ||
| Q3 24 | 2.54× | 4.85× | ||
| Q2 24 | 9.78× | 2.51× |
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
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% |
IRDM
| Voice and data | $57.4M | 26% |
| IoT data (2) | $46.0M | 21% |
| Government | $39.5M | 18% |
| Government service revenue (5) | $27.6M | 13% |
| Subscriber equipment | $20.2M | 9% |
| Hosted payload and other data service (4) | $14.8M | 7% |
| Broadband (3) | $12.2M | 6% |
| Commercial | $1.3M | 1% |
