vs
IMAX（IMAX）与Texas Pacific Land Corporation（TPL）财务数据对比。点击上方公司名可切换其他公司
Texas Pacific Land Corporation的季度营收约是IMAX的1.7倍（$211.6M vs $125.2M），Texas Pacific Land Corporation净利率更高（58.3% vs 0.5%，领先57.8%），IMAX同比增速更快（35.1% vs 13.9%），过去两年IMAX的营收复合增速更高（25.8% vs 10.2%）
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。
Texas Pacific Land Corporation（简称TPL）是一家公开上市的不动产运营企业，行政总部位于美国得克萨斯州达拉斯市。公司在得州西部20个郡拥有逾88万英亩（约3600平方公里）土地，是得州规模最大的私人土地所有者之一，前身为得克萨斯太平洋土地信托。
IMAX vs TPL — 直观对比
营收规模更大
TPL
是对方的1.7倍
$125.2M
营收增速更快
IMAX
高出21.2%
13.9%
净利率更高
TPL
高出57.8%
0.5%
两年增速更快
IMAX
近两年复合增速
10.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $125.2M | $211.6M |
| 净利润 | $637.0K | $123.3M |
| 毛利率 | 57.6% | — |
| 营业利润率 | 19.3% | 70.5% |
| 净利率 | 0.5% | 58.3% |
| 营收同比 | 35.1% | 13.9% |
| 净利润同比 | -88.0% | 4.2% |
| 每股收益（稀释后） | $0.02 | $-8.59 |
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IMAXTPL
| Q4 25 | $125.2M | $211.6M | ||
| Q3 25 | $106.7M | $203.1M | ||
| Q2 25 | $91.7M | $187.5M | ||
| Q1 25 | $86.7M | $196.0M | ||
| Q4 24 | $92.7M | $185.8M | ||
| Q3 24 | $91.5M | $173.6M | ||
| Q2 24 | $89.0M | $172.3M | ||
| Q1 24 | $79.1M | $174.1M |
净利润IMAXTPL
| Q4 25 | $637.0K | $123.3M | ||
| Q3 25 | $20.7M | $121.2M | ||
| Q2 25 | $11.3M | $116.1M | ||
| Q1 25 | $2.3M | $120.7M | ||
| Q4 24 | $5.3M | $118.4M | ||
| Q3 24 | $13.9M | $106.6M | ||
| Q2 24 | $3.6M | $114.6M | ||
| Q1 24 | $3.3M | $114.4M |
毛利率IMAXTPL
| 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IMAXTPL
| Q4 25 | 19.3% | 70.5% | ||
| Q3 25 | 27.2% | 73.4% | ||
| Q2 25 | 15.6% | 76.6% | ||
| Q1 25 | 19.3% | 76.6% | ||
| Q4 24 | 10.3% | 76.7% | ||
| Q3 24 | 21.2% | 73.4% | ||
| Q2 24 | 3.2% | 77.3% | ||
| Q1 24 | 15.3% | 78.1% |
净利率IMAXTPL
| Q4 25 | 0.5% | 58.3% | ||
| Q3 25 | 19.4% | 59.7% | ||
| Q2 25 | 12.3% | 61.9% | ||
| Q1 25 | 2.7% | 61.6% | ||
| Q4 24 | 5.7% | 63.7% | ||
| Q3 24 | 15.2% | 61.4% | ||
| Q2 24 | 4.0% | 66.5% | ||
| Q1 24 | 4.1% | 65.7% |
每股收益（稀释后）IMAXTPL
| Q4 25 | $0.02 | $-8.59 | ||
| Q3 25 | $0.37 | $5.27 | ||
| Q2 25 | $0.20 | $5.05 | ||
| Q1 25 | $0.04 | $5.24 | ||
| Q4 24 | $0.09 | $5.14 | ||
| Q3 24 | $0.26 | $4.63 | ||
| Q2 24 | $0.07 | $4.98 | ||
| Q1 24 | $0.06 | $4.97 |
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 | $144.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $337.9M | $1.5B |
| 总资产 | $894.0M | $1.6B |
| 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IMAXTPL
| Q4 25 | $151.2M | $144.8M | ||
| Q3 25 | $143.1M | $531.8M | ||
| Q2 25 | $109.3M | $543.9M | ||
| Q1 25 | $97.1M | $460.4M | ||
| Q4 24 | $100.6M | $369.8M | ||
| Q3 24 | $104.5M | $533.9M | ||
| Q2 24 | $91.6M | $894.7M | ||
| Q1 24 | $81.0M | $837.1M |
股东权益IMAXTPL
| Q4 25 | $337.9M | $1.5B | ||
| Q3 25 | $349.5M | $1.4B | ||
| Q2 25 | $320.4M | $1.3B | ||
| Q1 25 | $299.5M | $1.2B | ||
| Q4 24 | $299.5M | $1.1B | ||
| Q3 24 | $289.4M | $1.1B | ||
| Q2 24 | $267.2M | $1.2B | ||
| Q1 24 | $258.8M | $1.1B |
总资产IMAXTPL
| Q4 25 | $894.0M | $1.6B | ||
| Q3 25 | $889.6M | $1.5B | ||
| Q2 25 | $868.6M | $1.4B | ||
| Q1 25 | $848.3M | $1.4B | ||
| Q4 24 | $830.4M | $1.2B | ||
| Q3 24 | $847.6M | $1.2B | ||
| Q2 24 | $827.4M | $1.3B | ||
| Q1 24 | $824.1M | $1.3B |
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 | $113.7M |
| 自由现金流经营现金流 - 资本支出 | $28.0M | — |
| 自由现金流率自由现金流/营收 | 22.3% | — |
| 资本支出强度资本支出/营收 | 1.1% | — |
| 现金转化率经营现金流/净利润 | 46.11× | 0.92× |
| 过去12个月自由现金流最近4个季度 | $118.9M | — |
8季度趋势，按日历期对齐
经营现金流IMAXTPL
| Q4 25 | $29.4M | $113.7M | ||
| Q3 25 | $67.5M | $154.6M | ||
| Q2 25 | $23.2M | $120.9M | ||
| Q1 25 | $7.0M | $156.7M | ||
| Q4 24 | $11.5M | $126.6M | ||
| Q3 24 | $35.3M | $118.6M | ||
| Q2 24 | $35.0M | $98.3M | ||
| Q1 24 | $-11.0M | $147.2M |
自由现金流IMAXTPL
| Q4 25 | $28.0M | — | ||
| Q3 25 | $64.8M | — | ||
| Q2 25 | $20.9M | — | ||
| Q1 25 | $5.3M | — | ||
| Q4 24 | $6.9M | — | ||
| Q3 24 | $34.2M | — | ||
| Q2 24 | $33.5M | — | ||
| Q1 24 | $-12.1M | — |
自由现金流率IMAXTPL
| Q4 25 | 22.3% | — | ||
| Q3 25 | 60.7% | — | ||
| Q2 25 | 22.8% | — | ||
| Q1 25 | 6.1% | — | ||
| Q4 24 | 7.4% | — | ||
| Q3 24 | 37.3% | — | ||
| Q2 24 | 37.6% | — | ||
| Q1 24 | -15.3% | — |
资本支出强度IMAXTPL
| Q4 25 | 1.1% | — | ||
| Q3 25 | 2.6% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | 5.0% | — | ||
| Q3 24 | 1.2% | — | ||
| Q2 24 | 1.8% | — | ||
| Q1 24 | 1.4% | — |
现金转化率IMAXTPL
| Q4 25 | 46.11× | 0.92× | ||
| Q3 25 | 3.27× | 1.28× | ||
| Q2 25 | 2.06× | 1.04× | ||
| Q1 25 | 2.99× | 1.30× | ||
| Q4 24 | 2.16× | 1.07× | ||
| Q3 24 | 2.54× | 1.11× | ||
| Q2 24 | 9.78× | 0.86× | ||
| Q1 24 | -3.35× | 1.29× |
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% |
TPL
| Water Serviceand Operations Segment | $98.2M | 46% |
| Water Sales And Royalties | $60.7M | 29% |
| Produced Water Royalties | $33.5M | 16% |
| Easementand Sundry | $20.6M | 10% |
