vs
IMAX（IMAX）与MARCUS CORP（MCS）财务数据对比。点击上方公司名可切换其他公司
MARCUS CORP的季度营收约是IMAX的1.5倍（$193.5M vs $125.2M），IMAX同比增速更快（35.1% vs 2.8%），IMAX自由现金流更多（$28.0M vs $26.4M），过去两年IMAX的营收复合增速更高（25.8% vs 18.2%）
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。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
IMAX vs MCS — 直观对比
营收规模更大
MCS
是对方的1.5倍
$125.2M
营收增速更快
IMAX
高出32.4%
2.8%
自由现金流更多
IMAX
多$1.6M
$26.4M
两年增速更快
IMAX
近两年复合增速
18.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $125.2M | $193.5M |
| 净利润 | $637.0K | — |
| 毛利率 | 57.6% | — |
| 营业利润率 | 19.3% | 0.9% |
| 净利率 | 0.5% | — |
| 营收同比 | 35.1% | 2.8% |
| 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IMAXMCS
| Q4 25 | $125.2M | $193.5M | ||
| Q3 25 | $106.7M | $210.2M | ||
| Q2 25 | $91.7M | $206.0M | ||
| Q1 25 | $86.7M | $148.8M | ||
| Q4 24 | $92.7M | $188.3M | ||
| Q3 24 | $91.5M | $232.7M | ||
| Q2 24 | $89.0M | $176.0M | ||
| Q1 24 | $79.1M | $138.5M |
净利润IMAXMCS
| Q4 25 | $637.0K | — | ||
| Q3 25 | $20.7M | $16.2M | ||
| Q2 25 | $11.3M | $7.3M | ||
| Q1 25 | $2.3M | $-16.8M | ||
| Q4 24 | $5.3M | $986.0K | ||
| Q3 24 | $13.9M | $23.3M | ||
| Q2 24 | $3.6M | $-20.2M | ||
| Q1 24 | $3.3M | $-11.9M |
毛利率IMAXMCS
| 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% | — | ||
| Q1 24 | 59.3% | — |
营业利润率IMAXMCS
| Q4 25 | 19.3% | 0.9% | ||
| Q3 25 | 27.2% | 10.8% | ||
| Q2 25 | 15.6% | 6.3% | ||
| Q1 25 | 19.3% | -13.7% | ||
| Q4 24 | 10.3% | -1.2% | ||
| Q3 24 | 21.2% | 14.1% | ||
| Q2 24 | 3.2% | 1.3% | ||
| Q1 24 | 15.3% | -12.0% |
净利率IMAXMCS
| Q4 25 | 0.5% | — | ||
| Q3 25 | 19.4% | 7.7% | ||
| Q2 25 | 12.3% | 3.6% | ||
| Q1 25 | 2.7% | -11.3% | ||
| Q4 24 | 5.7% | 0.5% | ||
| Q3 24 | 15.2% | 10.0% | ||
| Q2 24 | 4.0% | -11.5% | ||
| Q1 24 | 4.1% | -8.6% |
每股收益（稀释后）IMAXMCS
| Q4 25 | $0.02 | — | ||
| Q3 25 | $0.37 | — | ||
| Q2 25 | $0.20 | — | ||
| Q1 25 | $0.04 | — | ||
| Q4 24 | $0.09 | — | ||
| Q3 24 | $0.26 | — | ||
| Q2 24 | $0.07 | — | ||
| Q1 24 | $0.06 | — |
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 | $23.4M |
| 总债务越低越好 | — | $159.0M |
| 股东权益账面价值 | $337.9M | $457.4M |
| 总资产 | $894.0M | $1.0B |
| 负债/权益比越低杠杆越低 | — | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资IMAXMCS
| Q4 25 | $151.2M | $23.4M | ||
| Q3 25 | $143.1M | $7.4M | ||
| Q2 25 | $109.3M | $14.9M | ||
| Q1 25 | $97.1M | $11.9M | ||
| Q4 24 | $100.6M | $40.8M | ||
| Q3 24 | $104.5M | $28.4M | ||
| Q2 24 | $91.6M | $32.8M | ||
| Q1 24 | $81.0M | $17.3M |
总债务IMAXMCS
| Q4 25 | — | $159.0M | ||
| Q3 25 | — | $162.0M | ||
| Q2 25 | — | $179.9M | ||
| Q1 25 | — | $198.9M | ||
| Q4 24 | — | $159.1M | ||
| Q3 24 | — | $173.1M | ||
| Q2 24 | — | $175.7M | ||
| Q1 24 | — | $169.8M |
股东权益IMAXMCS
| Q4 25 | $337.9M | $457.4M | ||
| Q3 25 | $349.5M | $454.3M | ||
| Q2 25 | $320.4M | $448.4M | ||
| Q1 25 | $299.5M | $441.8M | ||
| Q4 24 | $299.5M | $464.9M | ||
| Q3 24 | $289.4M | $462.3M | ||
| Q2 24 | $267.2M | $449.4M | ||
| Q1 24 | $258.8M | $459.3M |
总资产IMAXMCS
| Q4 25 | $894.0M | $1.0B | ||
| Q3 25 | $889.6M | $1.0B | ||
| Q2 25 | $868.6M | $1.0B | ||
| Q1 25 | $848.3M | $1.0B | ||
| Q4 24 | $830.4M | $1.0B | ||
| Q3 24 | $847.6M | $1.0B | ||
| Q2 24 | $827.4M | $1.1B | ||
| Q1 24 | $824.1M | $1.0B |
负债/权益比IMAXMCS
| Q4 25 | — | 0.35× | ||
| Q3 25 | — | 0.36× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 0.34× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.39× | ||
| 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 | $29.4M | $48.8M |
| 自由现金流经营现金流 - 资本支出 | $28.0M | $26.4M |
| 自由现金流率自由现金流/营收 | 22.3% | 13.6% |
| 资本支出强度资本支出/营收 | 1.1% | 11.6% |
| 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 | $989.0K |
8季度趋势，按日历期对齐
经营现金流IMAXMCS
| Q4 25 | $29.4M | $48.8M | ||
| Q3 25 | $67.5M | $39.1M | ||
| Q2 25 | $23.2M | $31.6M | ||
| Q1 25 | $7.0M | $-35.3M | ||
| Q4 24 | $11.5M | $52.6M | ||
| Q3 24 | $35.3M | $30.5M | ||
| Q2 24 | $35.0M | $36.0M | ||
| Q1 24 | $-11.0M | $-15.1M |
自由现金流IMAXMCS
| Q4 25 | $28.0M | $26.4M | ||
| Q3 25 | $64.8M | $18.2M | ||
| Q2 25 | $20.9M | $14.7M | ||
| Q1 25 | $5.3M | $-58.3M | ||
| Q4 24 | $6.9M | $27.1M | ||
| Q3 24 | $34.2M | $12.0M | ||
| Q2 24 | $33.5M | $16.1M | ||
| Q1 24 | $-12.1M | $-30.5M |
自由现金流率IMAXMCS
| Q4 25 | 22.3% | 13.6% | ||
| Q3 25 | 60.7% | 8.7% | ||
| Q2 25 | 22.8% | 7.1% | ||
| Q1 25 | 6.1% | -39.2% | ||
| Q4 24 | 7.4% | 14.4% | ||
| Q3 24 | 37.3% | 5.2% | ||
| Q2 24 | 37.6% | 9.2% | ||
| Q1 24 | -15.3% | -22.0% |
资本支出强度IMAXMCS
| Q4 25 | 1.1% | 11.6% | ||
| Q3 25 | 2.6% | 9.9% | ||
| Q2 25 | 2.6% | 8.2% | ||
| Q1 25 | 1.9% | 15.5% | ||
| Q4 24 | 5.0% | 13.5% | ||
| Q3 24 | 1.2% | 7.9% | ||
| Q2 24 | 1.8% | 11.3% | ||
| Q1 24 | 1.4% | 11.1% |
现金转化率IMAXMCS
| Q4 25 | 46.11× | — | ||
| Q3 25 | 3.27× | 2.41× | ||
| Q2 25 | 2.06× | 4.32× | ||
| Q1 25 | 2.99× | — | ||
| Q4 24 | 2.16× | 53.31× | ||
| Q3 24 | 2.54× | 1.31× | ||
| 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% |
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
