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IMAX（IMAX）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
Rocket Lab Corp的季度营收约是IMAX的1.4倍（$179.7M vs $125.2M），IMAX净利率更高（0.5% vs -29.5%，领先30.0%），Rocket Lab Corp同比增速更快（35.7% vs 35.1%），IMAX自由现金流更多（$28.0M vs $-114.2M），过去两年Rocket Lab Corp的营收复合增速更高（39.2% 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。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
IMAX vs RKLB — 直观对比
营收规模更大
RKLB
是对方的1.4倍
$125.2M
营收增速更快
RKLB
高出0.6%
35.1%
净利率更高
IMAX
高出30.0%
-29.5%
自由现金流更多
IMAX
多$142.1M
$-114.2M
两年增速更快
RKLB
近两年复合增速
25.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $125.2M | $179.7M |
| 净利润 | $637.0K | $-52.9M |
| 毛利率 | 57.6% | 38.0% |
| 营业利润率 | 19.3% | -28.4% |
| 净利率 | 0.5% | -29.5% |
| 营收同比 | 35.1% | 35.7% |
| 净利润同比 | -88.0% | -1.1% |
| 每股收益（稀释后） | $0.02 | $-0.09 |
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IMAXRKLB
| Q4 25 | $125.2M | $179.7M | ||
| Q3 25 | $106.7M | $155.1M | ||
| Q2 25 | $91.7M | $144.5M | ||
| Q1 25 | $86.7M | $122.6M | ||
| Q4 24 | $92.7M | $132.4M | ||
| Q3 24 | $91.5M | $104.8M | ||
| Q2 24 | $89.0M | $106.3M | ||
| Q1 24 | $79.1M | $92.8M |
净利润IMAXRKLB
| Q4 25 | $637.0K | $-52.9M | ||
| Q3 25 | $20.7M | $-18.3M | ||
| Q2 25 | $11.3M | $-66.4M | ||
| Q1 25 | $2.3M | $-60.6M | ||
| Q4 24 | $5.3M | $-52.3M | ||
| Q3 24 | $13.9M | $-51.9M | ||
| Q2 24 | $3.6M | $-41.6M | ||
| Q1 24 | $3.3M | $-44.3M |
毛利率IMAXRKLB
| Q4 25 | 57.6% | 38.0% | ||
| Q3 25 | 63.1% | 37.0% | ||
| Q2 25 | 58.5% | 32.1% | ||
| Q1 25 | 61.4% | 28.8% | ||
| Q4 24 | 52.2% | 27.8% | ||
| Q3 24 | 55.8% | 26.7% | ||
| Q2 24 | 49.4% | 25.6% | ||
| Q1 24 | 59.3% | 26.1% |
营业利润率IMAXRKLB
| Q4 25 | 19.3% | -28.4% | ||
| Q3 25 | 27.2% | -38.0% | ||
| Q2 25 | 15.6% | -41.3% | ||
| Q1 25 | 19.3% | -48.3% | ||
| Q4 24 | 10.3% | -38.9% | ||
| Q3 24 | 21.2% | -49.5% | ||
| Q2 24 | 3.2% | -40.7% | ||
| Q1 24 | 15.3% | -46.4% |
净利率IMAXRKLB
| Q4 25 | 0.5% | -29.5% | ||
| Q3 25 | 19.4% | -11.8% | ||
| Q2 25 | 12.3% | -46.0% | ||
| Q1 25 | 2.7% | -49.5% | ||
| Q4 24 | 5.7% | -39.5% | ||
| Q3 24 | 15.2% | -49.6% | ||
| Q2 24 | 4.0% | -39.2% | ||
| Q1 24 | 4.1% | -47.7% |
每股收益（稀释后）IMAXRKLB
| Q4 25 | $0.02 | $-0.09 | ||
| Q3 25 | $0.37 | $-0.03 | ||
| Q2 25 | $0.20 | $-0.13 | ||
| Q1 25 | $0.04 | $-0.12 | ||
| Q4 24 | $0.09 | $-0.11 | ||
| Q3 24 | $0.26 | $-0.10 | ||
| Q2 24 | $0.07 | $-0.08 | ||
| Q1 24 | $0.06 | $-0.09 |
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 | $1.0B |
| 总债务越低越好 | — | $152.4M |
| 股东权益账面价值 | $337.9M | $1.7B |
| 总资产 | $894.0M | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资IMAXRKLB
| Q4 25 | $151.2M | $1.0B | ||
| Q3 25 | $143.1M | $976.7M | ||
| Q2 25 | $109.3M | $688.1M | ||
| Q1 25 | $97.1M | $428.4M | ||
| Q4 24 | $100.6M | $419.0M | ||
| Q3 24 | $104.5M | $442.4M | ||
| Q2 24 | $91.6M | $496.8M | ||
| Q1 24 | $81.0M | $492.5M |
总债务IMAXRKLB
| Q4 25 | — | $152.4M | ||
| Q3 25 | — | $347.0M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $345.9M | ||
| Q4 24 | — | $345.4M | ||
| Q3 24 | — | $61.2M | ||
| Q2 24 | — | $64.2M | ||
| Q1 24 | — | $66.8M |
股东权益IMAXRKLB
| Q4 25 | $337.9M | $1.7B | ||
| Q3 25 | $349.5M | $1.3B | ||
| Q2 25 | $320.4M | $688.5M | ||
| Q1 25 | $299.5M | $431.3M | ||
| Q4 24 | $299.5M | $382.5M | ||
| Q3 24 | $289.4M | $419.8M | ||
| Q2 24 | $267.2M | $455.2M | ||
| Q1 24 | $258.8M | $478.9M |
总资产IMAXRKLB
| Q4 25 | $894.0M | $2.3B | ||
| Q3 25 | $889.6M | $2.2B | ||
| Q2 25 | $868.6M | $1.6B | ||
| Q1 25 | $848.3M | $1.3B | ||
| Q4 24 | $830.4M | $1.2B | ||
| Q3 24 | $847.6M | $1.2B | ||
| Q2 24 | $827.4M | $1.2B | ||
| Q1 24 | $824.1M | $1.2B |
负债/权益比IMAXRKLB
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
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 | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $28.0M | $-114.2M |
| 自由现金流率自由现金流/营收 | 22.3% | -63.6% |
| 资本支出强度资本支出/营收 | 1.1% | 27.6% |
| 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 | $-321.8M |
8季度趋势，按日历期对齐
经营现金流IMAXRKLB
| Q4 25 | $29.4M | $-64.5M | ||
| Q3 25 | $67.5M | $-23.5M | ||
| Q2 25 | $23.2M | $-23.2M | ||
| Q1 25 | $7.0M | $-54.2M | ||
| Q4 24 | $11.5M | $-2.4M | ||
| Q3 24 | $35.3M | $-30.9M | ||
| Q2 24 | $35.0M | $-13.0M | ||
| Q1 24 | $-11.0M | $-2.6M |
自由现金流IMAXRKLB
| Q4 25 | $28.0M | $-114.2M | ||
| Q3 25 | $64.8M | $-69.4M | ||
| Q2 25 | $20.9M | $-55.3M | ||
| Q1 25 | $5.3M | $-82.9M | ||
| Q4 24 | $6.9M | $-23.9M | ||
| Q3 24 | $34.2M | $-41.9M | ||
| Q2 24 | $33.5M | $-28.3M | ||
| Q1 24 | $-12.1M | $-21.8M |
自由现金流率IMAXRKLB
| Q4 25 | 22.3% | -63.6% | ||
| Q3 25 | 60.7% | -44.8% | ||
| Q2 25 | 22.8% | -38.3% | ||
| Q1 25 | 6.1% | -67.6% | ||
| Q4 24 | 7.4% | -18.1% | ||
| Q3 24 | 37.3% | -40.0% | ||
| Q2 24 | 37.6% | -26.7% | ||
| Q1 24 | -15.3% | -23.5% |
资本支出强度IMAXRKLB
| Q4 25 | 1.1% | 27.6% | ||
| Q3 25 | 2.6% | 29.6% | ||
| Q2 25 | 2.6% | 22.2% | ||
| Q1 25 | 1.9% | 23.4% | ||
| Q4 24 | 5.0% | 16.3% | ||
| Q3 24 | 1.2% | 10.5% | ||
| Q2 24 | 1.8% | 14.4% | ||
| Q1 24 | 1.4% | 20.7% |
现金转化率IMAXRKLB
| 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% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
