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IMAX（IMAX）与OPAL Fuels Inc.（OPAL）财务数据对比。点击上方公司名可切换其他公司
IMAX的季度营收约是OPAL Fuels Inc.的1.4倍（$125.2M vs $88.4M），OPAL Fuels Inc.净利率更高（18.3% vs 0.5%，领先17.8%），IMAX同比增速更快（35.1% vs 18.7%），IMAX自由现金流更多（$28.0M vs $-13.4M），过去两年IMAX的营收复合增速更高（25.8% vs 17.6%）
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。
OPAL Fuels Inc.是一家北美能源企业，专注于生产和分销低碳可再生天然气（RNG）。公司从垃圾填埋场、奶牛场等有机废物流中收集甲烷，产出的可再生天然气主要供应给重型运输车队、商业物流运营商及公共交通实体，助力降低碳排放。
IMAX vs OPAL — 直观对比
营收规模更大
IMAX
是对方的1.4倍
$88.4M
营收增速更快
IMAX
高出16.4%
18.7%
净利率更高
OPAL
高出17.8%
0.5%
自由现金流更多
IMAX
多$41.3M
$-13.4M
两年增速更快
IMAX
近两年复合增速
17.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $125.2M | $88.4M |
| 净利润 | $637.0K | $16.2M |
| 毛利率 | 57.6% | — |
| 营业利润率 | 19.3% | 7.5% |
| 净利率 | 0.5% | 18.3% |
| 营收同比 | 35.1% | 18.7% |
| 净利润同比 | -88.0% | 401.5% |
| 每股收益（稀释后） | $0.02 | $0.08 |
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IMAXOPAL
| Q4 25 | $125.2M | $88.4M | ||
| Q3 25 | $106.7M | $77.9M | ||
| Q2 25 | $91.7M | $77.4M | ||
| Q1 25 | $86.7M | $83.0M | ||
| Q4 24 | $92.7M | $74.5M | ||
| Q3 24 | $91.5M | $82.6M | ||
| Q2 24 | $89.0M | $69.8M | ||
| Q1 24 | $79.1M | $64.0M |
净利润IMAXOPAL
| Q4 25 | $637.0K | $16.2M | ||
| Q3 25 | $20.7M | $11.4M | ||
| Q2 25 | $11.3M | $7.6M | ||
| Q1 25 | $2.3M | $1.3M | ||
| Q4 24 | $5.3M | $-5.4M | ||
| Q3 24 | $13.9M | $17.1M | ||
| Q2 24 | $3.6M | $1.9M | ||
| Q1 24 | $3.3M | $677.0K |
毛利率IMAXOPAL
| 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IMAXOPAL
| Q4 25 | 19.3% | 7.5% | ||
| Q3 25 | 27.2% | 4.6% | ||
| Q2 25 | 15.6% | -1.1% | ||
| Q1 25 | 19.3% | -2.3% | ||
| Q4 24 | 10.3% | -0.5% | ||
| Q3 24 | 21.2% | 14.9% | ||
| Q2 24 | 3.2% | 8.1% | ||
| Q1 24 | 15.3% | 5.6% |
净利率IMAXOPAL
| Q4 25 | 0.5% | 18.3% | ||
| Q3 25 | 19.4% | 14.6% | ||
| Q2 25 | 12.3% | 9.8% | ||
| Q1 25 | 2.7% | 1.5% | ||
| Q4 24 | 5.7% | -7.2% | ||
| Q3 24 | 15.2% | 20.7% | ||
| Q2 24 | 4.0% | 2.7% | ||
| Q1 24 | 4.1% | 1.1% |
每股收益（稀释后）IMAXOPAL
| Q4 25 | $0.02 | $0.08 | ||
| Q3 25 | $0.37 | $0.05 | ||
| Q2 25 | $0.20 | $0.03 | ||
| Q1 25 | $0.04 | $-0.01 | ||
| Q4 24 | $0.09 | $-0.05 | ||
| Q3 24 | $0.26 | $0.09 | ||
| Q2 24 | $0.07 | $-0.01 | ||
| Q1 24 | $0.06 | $-0.01 |
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 | $24.4M |
| 总债务越低越好 | — | $361.3M |
| 股东权益账面价值 | $337.9M | $-12.9M |
| 总资产 | $894.0M | $959.5M |
| 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IMAXOPAL
| Q4 25 | $151.2M | $24.4M | ||
| Q3 25 | $143.1M | $29.9M | ||
| Q2 25 | $109.3M | $29.3M | ||
| Q1 25 | $97.1M | $40.1M | ||
| Q4 24 | $100.6M | $24.3M | ||
| Q3 24 | $104.5M | $31.0M | ||
| Q2 24 | $91.6M | $27.6M | ||
| Q1 24 | $81.0M | $34.2M |
总债务IMAXOPAL
| Q4 25 | — | $361.3M | ||
| Q3 25 | — | $351.2M | ||
| Q2 25 | — | $331.6M | ||
| Q1 25 | — | $307.0M | ||
| Q4 24 | — | $307.5M | ||
| Q3 24 | — | $252.9M | ||
| Q2 24 | — | $233.3M | ||
| Q1 24 | — | $208.7M |
股东权益IMAXOPAL
| Q4 25 | $337.9M | $-12.9M | ||
| Q3 25 | $349.5M | $7.5M | ||
| Q2 25 | $320.4M | $-25.0M | ||
| Q1 25 | $299.5M | $57.1M | ||
| Q4 24 | $299.5M | $-148.4M | ||
| Q3 24 | $289.4M | $-180.1M | ||
| Q2 24 | $267.2M | $-273.0M | ||
| Q1 24 | $258.8M | $-382.4M |
总资产IMAXOPAL
| Q4 25 | $894.0M | $959.5M | ||
| Q3 25 | $889.6M | $916.7M | ||
| Q2 25 | $868.6M | $905.5M | ||
| Q1 25 | $848.3M | $884.9M | ||
| Q4 24 | $830.4M | $881.1M | ||
| Q3 24 | $847.6M | $831.1M | ||
| Q2 24 | $827.4M | $782.3M | ||
| Q1 24 | $824.1M | $750.5M |
负债/权益比IMAXOPAL
| Q4 25 | — | — | ||
| Q3 25 | — | 46.95× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 5.38× | ||
| 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 | $29.4M | $-3.5M |
| 自由现金流经营现金流 - 资本支出 | $28.0M | $-13.4M |
| 自由现金流率自由现金流/营收 | 22.3% | -15.1% |
| 资本支出强度资本支出/营收 | 1.1% | 11.1% |
| 现金转化率经营现金流/净利润 | 46.11× | -0.22× |
| 过去12个月自由现金流最近4个季度 | $118.9M | $-34.2M |
8季度趋势，按日历期对齐
经营现金流IMAXOPAL
| Q4 25 | $29.4M | $-3.5M | ||
| Q3 25 | $67.5M | $18.2M | ||
| Q2 25 | $23.2M | $-7.9M | ||
| Q1 25 | $7.0M | $29.7M | ||
| Q4 24 | $11.5M | $-532.0K | ||
| Q3 24 | $35.3M | $17.7M | ||
| Q2 24 | $35.0M | $533.0K | ||
| Q1 24 | $-11.0M | $13.7M |
自由现金流IMAXOPAL
| Q4 25 | $28.0M | $-13.4M | ||
| Q3 25 | $64.8M | $-9.3M | ||
| Q2 25 | $20.9M | $-29.7M | ||
| Q1 25 | $5.3M | $18.1M | ||
| Q4 24 | $6.9M | $-55.0M | ||
| Q3 24 | $34.2M | $-5.4M | ||
| Q2 24 | $33.5M | $-22.5M | ||
| Q1 24 | $-12.1M | $-13.0M |
自由现金流率IMAXOPAL
| Q4 25 | 22.3% | -15.1% | ||
| Q3 25 | 60.7% | -11.9% | ||
| Q2 25 | 22.8% | -38.4% | ||
| Q1 25 | 6.1% | 21.8% | ||
| Q4 24 | 7.4% | -73.8% | ||
| Q3 24 | 37.3% | -6.5% | ||
| Q2 24 | 37.6% | -32.2% | ||
| Q1 24 | -15.3% | -20.4% |
资本支出强度IMAXOPAL
| Q4 25 | 1.1% | 11.1% | ||
| Q3 25 | 2.6% | 35.3% | ||
| Q2 25 | 2.6% | 28.2% | ||
| Q1 25 | 1.9% | 13.9% | ||
| Q4 24 | 5.0% | 73.1% | ||
| Q3 24 | 1.2% | 27.9% | ||
| Q2 24 | 1.8% | 32.9% | ||
| Q1 24 | 1.4% | 41.8% |
现金转化率IMAXOPAL
| Q4 25 | 46.11× | -0.22× | ||
| Q3 25 | 3.27× | 1.60× | ||
| Q2 25 | 2.06× | -1.04× | ||
| Q1 25 | 2.99× | 23.11× | ||
| Q4 24 | 2.16× | — | ||
| Q3 24 | 2.54× | 1.03× | ||
| Q2 24 | 9.78× | 0.28× | ||
| Q1 24 | -3.35× | 20.26× |
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% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
