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IMAX（IMAX）与PLUG POWER INC（PLUG）财务数据对比。点击上方公司名可切换其他公司
PLUG POWER INC的季度营收约是IMAX的1.8倍（$225.2M vs $125.2M），IMAX净利率更高（0.5% vs -375.6%，领先376.1%），IMAX同比增速更快（35.1% vs 17.6%），IMAX自由现金流更多（$28.0M vs $-153.0M），过去两年PLUG POWER INC的营收复合增速更高（36.8% 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。
普拉格能源是一家美国企业，专注于氢燃料电池和电解槽系统的研发，其产品可替代电动设备及车辆所使用的传统电池。公司总部位于纽约州斯林格兰兹，在华盛顿州斯波坎、纽约州罗切斯特均设有生产运营基地。
IMAX vs PLUG — 直观对比
营收规模更大
PLUG
是对方的1.8倍
$125.2M
营收增速更快
IMAX
高出17.5%
17.6%
净利率更高
IMAX
高出376.1%
-375.6%
自由现金流更多
IMAX
多$181.0M
$-153.0M
两年增速更快
PLUG
近两年复合增速
25.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $125.2M | $225.2M |
| 净利润 | $637.0K | $-846.0M |
| 毛利率 | 57.6% | 2.4% |
| 营业利润率 | 19.3% | -338.9% |
| 净利率 | 0.5% | -375.6% |
| 营收同比 | 35.1% | 17.6% |
| 净利润同比 | -88.0% | 36.7% |
| 每股收益（稀释后） | $0.02 | $-0.70 |
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IMAXPLUG
| Q4 25 | $125.2M | $225.2M | ||
| Q3 25 | $106.7M | $177.1M | ||
| Q2 25 | $91.7M | $174.0M | ||
| Q1 25 | $86.7M | $133.7M | ||
| Q4 24 | $92.7M | $191.5M | ||
| Q3 24 | $91.5M | $173.7M | ||
| Q2 24 | $89.0M | $143.3M | ||
| Q1 24 | $79.1M | $120.3M |
净利润IMAXPLUG
| Q4 25 | $637.0K | $-846.0M | ||
| Q3 25 | $20.7M | $-361.9M | ||
| Q2 25 | $11.3M | $-227.1M | ||
| Q1 25 | $2.3M | $-196.7M | ||
| Q4 24 | $5.3M | $-1.3B | ||
| Q3 24 | $13.9M | $-211.2M | ||
| Q2 24 | $3.6M | $-262.3M | ||
| Q1 24 | $3.3M | $-295.8M |
毛利率IMAXPLUG
| Q4 25 | 57.6% | 2.4% | ||
| Q3 25 | 63.1% | -67.9% | ||
| Q2 25 | 58.5% | -30.7% | ||
| Q1 25 | 61.4% | -55.3% | ||
| Q4 24 | 52.2% | -122.5% | ||
| Q3 24 | 55.8% | -57.6% | ||
| Q2 24 | 49.4% | -91.6% | ||
| Q1 24 | 59.3% | -132.3% |
营业利润率IMAXPLUG
| Q4 25 | 19.3% | -338.9% | ||
| Q3 25 | 27.2% | -197.0% | ||
| Q2 25 | 15.6% | -101.7% | ||
| Q1 25 | 19.3% | -133.5% | ||
| Q4 24 | 10.3% | -678.7% | ||
| Q3 24 | 21.2% | -124.4% | ||
| Q2 24 | 3.2% | -170.7% | ||
| Q1 24 | 15.3% | -215.7% |
净利率IMAXPLUG
| Q4 25 | 0.5% | -375.6% | ||
| Q3 25 | 19.4% | -204.4% | ||
| Q2 25 | 12.3% | -130.5% | ||
| Q1 25 | 2.7% | -147.1% | ||
| Q4 24 | 5.7% | -697.5% | ||
| Q3 24 | 15.2% | -121.5% | ||
| Q2 24 | 4.0% | -183.0% | ||
| Q1 24 | 4.1% | -245.9% |
每股收益（稀释后）IMAXPLUG
| Q4 25 | $0.02 | $-0.70 | ||
| Q3 25 | $0.37 | $-0.31 | ||
| Q2 25 | $0.20 | $-0.20 | ||
| Q1 25 | $0.04 | $-0.21 | ||
| Q4 24 | $0.09 | $-1.61 | ||
| Q3 24 | $0.26 | $-0.25 | ||
| Q2 24 | $0.07 | $-0.36 | ||
| Q1 24 | $0.06 | $-0.46 |
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 | $368.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $337.9M | $978.1M |
| 总资产 | $894.0M | $2.6B |
| 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IMAXPLUG
| Q4 25 | $151.2M | $368.5M | ||
| Q3 25 | $143.1M | $165.9M | ||
| Q2 25 | $109.3M | $140.7M | ||
| Q1 25 | $97.1M | $295.8M | ||
| Q4 24 | $100.6M | $205.7M | ||
| Q3 24 | $104.5M | $93.9M | ||
| Q2 24 | $91.6M | $62.4M | ||
| Q1 24 | $81.0M | $172.9M |
总债务IMAXPLUG
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $3.9M | ||
| Q2 24 | — | $3.7M | ||
| Q1 24 | — | $3.8M |
股东权益IMAXPLUG
| Q4 25 | $337.9M | $978.1M | ||
| Q3 25 | $349.5M | $1.4B | ||
| Q2 25 | $320.4M | $1.7B | ||
| Q1 25 | $299.5M | $1.9B | ||
| Q4 24 | $299.5M | $1.7B | ||
| Q3 24 | $289.4M | $3.0B | ||
| Q2 24 | $267.2M | $3.0B | ||
| Q1 24 | $258.8M | $2.9B |
总资产IMAXPLUG
| Q4 25 | $894.0M | $2.6B | ||
| Q3 25 | $889.6M | $3.1B | ||
| Q2 25 | $868.6M | $3.4B | ||
| Q1 25 | $848.3M | $3.6B | ||
| Q4 24 | $830.4M | $3.6B | ||
| Q3 24 | $847.6M | $4.7B | ||
| Q2 24 | $827.4M | $4.8B | ||
| Q1 24 | $824.1M | $4.8B |
负债/权益比IMAXPLUG
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $-148.6M |
| 自由现金流经营现金流 - 资本支出 | $28.0M | $-153.0M |
| 自由现金流率自由现金流/营收 | 22.3% | -67.9% |
| 资本支出强度资本支出/营收 | 1.1% | 1.9% |
| 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 | $-647.0M |
8季度趋势，按日历期对齐
经营现金流IMAXPLUG
| Q4 25 | $29.4M | $-148.6M | ||
| Q3 25 | $67.5M | $-89.8M | ||
| Q2 25 | $23.2M | $-191.8M | ||
| Q1 25 | $7.0M | $-105.6M | ||
| Q4 24 | $11.5M | $-131.2M | ||
| Q3 24 | $35.3M | $-174.9M | ||
| Q2 24 | $35.0M | $-254.7M | ||
| Q1 24 | $-11.0M | $-167.7M |
自由现金流IMAXPLUG
| Q4 25 | $28.0M | $-153.0M | ||
| Q3 25 | $64.8M | $-117.5M | ||
| Q2 25 | $20.9M | $-230.4M | ||
| Q1 25 | $5.3M | $-146.0M | ||
| Q4 24 | $6.9M | $-165.2M | ||
| Q3 24 | $34.2M | $-234.2M | ||
| Q2 24 | $33.5M | $-356.0M | ||
| Q1 24 | $-12.1M | $-260.3M |
自由现金流率IMAXPLUG
| Q4 25 | 22.3% | -67.9% | ||
| Q3 25 | 60.7% | -66.4% | ||
| Q2 25 | 22.8% | -132.5% | ||
| Q1 25 | 6.1% | -109.2% | ||
| Q4 24 | 7.4% | -86.3% | ||
| Q3 24 | 37.3% | -134.8% | ||
| Q2 24 | 37.6% | -248.4% | ||
| Q1 24 | -15.3% | -216.5% |
资本支出强度IMAXPLUG
| Q4 25 | 1.1% | 1.9% | ||
| Q3 25 | 2.6% | 15.6% | ||
| Q2 25 | 2.6% | 22.2% | ||
| Q1 25 | 1.9% | 30.3% | ||
| Q4 24 | 5.0% | 17.7% | ||
| Q3 24 | 1.2% | 34.1% | ||
| Q2 24 | 1.8% | 70.7% | ||
| Q1 24 | 1.4% | 77.0% |
现金转化率IMAXPLUG
| Q4 25 | 46.11× | — | ||
| Q3 25 | 3.27× | — | ||
| Q2 25 | 2.06× | — | ||
| 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% |
PLUG
| Sales Of Equipment And Related Infrastructure | $111.6M | 50% |
| Services Performed On Fuel Cell Systems And Related Infrastructure | $41.5M | 18% |
| Power Purchase Agreements | $36.1M | 16% |
| Sale Of Cryogenic Equipment | $20.0M | 9% |
| Sales Of Fuel Cell Systems | $11.2M | 5% |
| Other | $4.8M | 2% |
