vs
IMAX（IMAX）与通用动力（PLOW）财务数据对比。点击上方公司名可切换其他公司
通用动力的季度营收约是IMAX的1.5倍（$184.5M vs $125.2M），通用动力净利率更高（7.0% vs 0.5%，领先6.4%），IMAX同比增速更快（35.1% vs 28.6%），通用动力自由现金流更多（$92.8M vs $28.0M），过去两年通用动力的营收复合增速更高（38.9% 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。
通用动力公司是总部位于美国弗吉尼亚州雷斯顿的工业与科技企业，核心业务是研发制造各类先进军用装备，产品包括核潜艇、主战坦克、装甲战车等，同时也生产民用湾流公务机，并提供信息技术服务，是美国联邦政府前五大国防承包商之一。
IMAX vs PLOW — 直观对比
营收规模更大
PLOW
是对方的1.5倍
$125.2M
营收增速更快
IMAX
高出6.6%
28.6%
净利率更高
PLOW
高出6.4%
0.5%
自由现金流更多
PLOW
多$64.9M
$28.0M
两年增速更快
PLOW
近两年复合增速
25.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $125.2M | $184.5M |
| 净利润 | $637.0K | $12.8M |
| 毛利率 | 57.6% | 26.1% |
| 营业利润率 | 19.3% | 10.5% |
| 净利率 | 0.5% | 7.0% |
| 营收同比 | 35.1% | 28.6% |
| 净利润同比 | -88.0% | 62.3% |
| 每股收益（稀释后） | $0.02 | $0.54 |
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IMAXPLOW
| Q4 25 | $125.2M | $184.5M | ||
| Q3 25 | $106.7M | $162.1M | ||
| Q2 25 | $91.7M | $194.3M | ||
| Q1 25 | $86.7M | $115.1M | ||
| Q4 24 | $92.7M | $143.5M | ||
| Q3 24 | $91.5M | $129.4M | ||
| Q2 24 | $89.0M | $199.9M | ||
| Q1 24 | $79.1M | $95.7M |
净利润IMAXPLOW
| Q4 25 | $637.0K | $12.8M | ||
| Q3 25 | $20.7M | $8.0M | ||
| Q2 25 | $11.3M | $26.0M | ||
| Q1 25 | $2.3M | $148.0K | ||
| Q4 24 | $5.3M | $7.9M | ||
| Q3 24 | $13.9M | $32.3M | ||
| Q2 24 | $3.6M | $24.3M | ||
| Q1 24 | $3.3M | $-8.4M |
毛利率IMAXPLOW
| Q4 25 | 57.6% | 26.1% | ||
| Q3 25 | 63.1% | 23.5% | ||
| Q2 25 | 58.5% | 31.0% | ||
| Q1 25 | 61.4% | 24.5% | ||
| Q4 24 | 52.2% | 24.9% | ||
| Q3 24 | 55.8% | 23.9% | ||
| Q2 24 | 49.4% | 30.7% | ||
| Q1 24 | 59.3% | 19.8% |
营业利润率IMAXPLOW
| Q4 25 | 19.3% | 10.5% | ||
| Q3 25 | 27.2% | 8.7% | ||
| Q2 25 | 15.6% | 19.0% | ||
| Q1 25 | 19.3% | 2.8% | ||
| Q4 24 | 10.3% | 9.0% | ||
| Q3 24 | 21.2% | 35.4% | ||
| Q2 24 | 3.2% | 18.2% | ||
| Q1 24 | 15.3% | -6.7% |
净利率IMAXPLOW
| Q4 25 | 0.5% | 7.0% | ||
| Q3 25 | 19.4% | 4.9% | ||
| Q2 25 | 12.3% | 13.4% | ||
| Q1 25 | 2.7% | 0.1% | ||
| Q4 24 | 5.7% | 5.5% | ||
| Q3 24 | 15.2% | 24.9% | ||
| Q2 24 | 4.0% | 12.2% | ||
| Q1 24 | 4.1% | -8.7% |
每股收益（稀释后）IMAXPLOW
| Q4 25 | $0.02 | $0.54 | ||
| Q3 25 | $0.37 | $0.33 | ||
| Q2 25 | $0.20 | $1.09 | ||
| Q1 25 | $0.04 | $0.00 | ||
| Q4 24 | $0.09 | $0.35 | ||
| Q3 24 | $0.26 | $1.36 | ||
| Q2 24 | $0.07 | $1.02 | ||
| Q1 24 | $0.06 | $-0.37 |
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 | — | $144.0M |
| 股东权益账面价值 | $337.9M | $281.4M |
| 总资产 | $894.0M | $626.7M |
| 负债/权益比越低杠杆越低 | — | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资IMAXPLOW
| Q4 25 | $151.2M | — | ||
| Q3 25 | $143.1M | — | ||
| Q2 25 | $109.3M | — | ||
| Q1 25 | $97.1M | — | ||
| Q4 24 | $100.6M | — | ||
| Q3 24 | $104.5M | — | ||
| Q2 24 | $91.6M | — | ||
| Q1 24 | $81.0M | — |
总债务IMAXPLOW
| Q4 25 | — | $144.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $147.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IMAXPLOW
| Q4 25 | $337.9M | $281.4M | ||
| Q3 25 | $349.5M | $275.3M | ||
| Q2 25 | $320.4M | $273.3M | ||
| Q1 25 | $299.5M | $258.9M | ||
| Q4 24 | $299.5M | $264.2M | ||
| Q3 24 | $289.4M | $260.8M | ||
| Q2 24 | $267.2M | $236.7M | ||
| Q1 24 | $258.8M | $217.2M |
总资产IMAXPLOW
| Q4 25 | $894.0M | $626.7M | ||
| Q3 25 | $889.6M | $694.9M | ||
| Q2 25 | $868.6M | $671.5M | ||
| Q1 25 | $848.3M | $621.0M | ||
| Q4 24 | $830.4M | $590.0M | ||
| Q3 24 | $847.6M | $665.6M | ||
| Q2 24 | $827.4M | $617.0M | ||
| Q1 24 | $824.1M | $577.1M |
负债/权益比IMAXPLOW
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.56× | ||
| 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 | $95.9M |
| 自由现金流经营现金流 - 资本支出 | $28.0M | $92.8M |
| 自由现金流率自由现金流/营收 | 22.3% | 50.3% |
| 资本支出强度资本支出/营收 | 1.1% | 1.7% |
| 现金转化率经营现金流/净利润 | 46.11× | 7.47× |
| 过去12个月自由现金流最近4个季度 | $118.9M | $63.6M |
8季度趋势，按日历期对齐
经营现金流IMAXPLOW
| Q4 25 | $29.4M | $95.9M | ||
| Q3 25 | $67.5M | $-8.5M | ||
| Q2 25 | $23.2M | $-11.4M | ||
| Q1 25 | $7.0M | $-1.3M | ||
| Q4 24 | $11.5M | $74.4M | ||
| Q3 24 | $35.3M | $-14.2M | ||
| Q2 24 | $35.0M | $2.5M | ||
| Q1 24 | $-11.0M | $-21.6M |
自由现金流IMAXPLOW
| Q4 25 | $28.0M | $92.8M | ||
| Q3 25 | $64.8M | $-11.4M | ||
| Q2 25 | $20.9M | $-14.3M | ||
| Q1 25 | $5.3M | $-3.5M | ||
| Q4 24 | $6.9M | $70.2M | ||
| Q3 24 | $34.2M | $-15.2M | ||
| Q2 24 | $33.5M | $836.0K | ||
| Q1 24 | $-12.1M | $-22.4M |
自由现金流率IMAXPLOW
| Q4 25 | 22.3% | 50.3% | ||
| Q3 25 | 60.7% | -7.1% | ||
| Q2 25 | 22.8% | -7.4% | ||
| Q1 25 | 6.1% | -3.0% | ||
| Q4 24 | 7.4% | 48.9% | ||
| Q3 24 | 37.3% | -11.8% | ||
| Q2 24 | 37.6% | 0.4% | ||
| Q1 24 | -15.3% | -23.4% |
资本支出强度IMAXPLOW
| Q4 25 | 1.1% | 1.7% | ||
| Q3 25 | 2.6% | 1.8% | ||
| Q2 25 | 2.6% | 1.5% | ||
| Q1 25 | 1.9% | 1.9% | ||
| Q4 24 | 5.0% | 2.9% | ||
| Q3 24 | 1.2% | 0.8% | ||
| Q2 24 | 1.8% | 0.8% | ||
| Q1 24 | 1.4% | 0.8% |
现金转化率IMAXPLOW
| Q4 25 | 46.11× | 7.47× | ||
| Q3 25 | 3.27× | -1.07× | ||
| Q2 25 | 2.06× | -0.44× | ||
| Q1 25 | 2.99× | -9.03× | ||
| Q4 24 | 2.16× | 9.41× | ||
| Q3 24 | 2.54× | -0.44× | ||
| Q2 24 | 9.78× | 0.10× | ||
| 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% |
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
