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IMMERSION CORP（IMMR）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
IMMERSION CORP的季度营收约是PLUG POWER INC的1.7倍（$372.9M vs $225.2M），IMMERSION CORP净利率更高（-4.6% vs -375.6%，领先371.1%），IMMERSION CORP同比增速更快（750.4% vs 17.6%），过去两年IMMERSION CORP的营收复合增速更高（537.9% vs 36.8%）
Immersion Corporation总部位于佛罗里达州阿文图拉，主要研发并授权触觉反馈技术（即触感技术）。公司由路易斯·罗森伯格于1993年创立，目前由律师弗朗西斯·何塞掌管，他同时担任首席执行官与总法律顾问一职。
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。
IMMR vs PLUG — 直观对比
营收规模更大
IMMR
是对方的1.7倍
$225.2M
营收增速更快
IMMR
高出732.8%
17.6%
净利率更高
IMMR
高出371.1%
-375.6%
两年增速更快
IMMR
近两年复合增速
36.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $372.9M | $225.2M |
| 净利润 | $-17.0M | $-846.0M |
| 毛利率 | — | 2.4% |
| 营业利润率 | -2.8% | -338.9% |
| 净利率 | -4.6% | -375.6% |
| 营收同比 | 750.4% | 17.6% |
| 净利润同比 | -191.3% | 36.7% |
| 每股收益（稀释后） | $-0.57 | $-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IMMRPLUG
| Q4 25 | — | $225.2M | ||
| Q3 25 | — | $177.1M | ||
| Q2 25 | $372.9M | $174.0M | ||
| Q1 25 | $471.3M | $133.7M | ||
| Q4 24 | $616.2M | $191.5M | ||
| Q3 24 | — | $173.7M | ||
| Q2 24 | $95.5M | $143.3M | ||
| Q1 24 | $43.8M | $120.3M |
净利润IMMRPLUG
| Q4 25 | — | $-846.0M | ||
| Q3 25 | — | $-361.9M | ||
| Q2 25 | $-17.0M | $-227.1M | ||
| Q1 25 | $24.1M | $-196.7M | ||
| Q4 24 | $30.8M | $-1.3B | ||
| Q3 24 | — | $-211.2M | ||
| Q2 24 | $26.4M | $-262.3M | ||
| Q1 24 | $18.7M | $-295.8M |
毛利率IMMRPLUG
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | -67.9% | ||
| Q2 25 | — | -30.7% | ||
| Q1 25 | — | -55.3% | ||
| Q4 24 | — | -122.5% | ||
| Q3 24 | — | -57.6% | ||
| Q2 24 | — | -91.6% | ||
| Q1 24 | — | -132.3% |
营业利润率IMMRPLUG
| Q4 25 | — | -338.9% | ||
| Q3 25 | — | -197.0% | ||
| Q2 25 | -2.8% | -101.7% | ||
| Q1 25 | 7.5% | -133.5% | ||
| Q4 24 | 11.4% | -678.7% | ||
| Q3 24 | — | -124.4% | ||
| Q2 24 | 23.7% | -170.7% | ||
| Q1 24 | 37.9% | -215.7% |
净利率IMMRPLUG
| Q4 25 | — | -375.6% | ||
| Q3 25 | — | -204.4% | ||
| Q2 25 | -4.6% | -130.5% | ||
| Q1 25 | 5.1% | -147.1% | ||
| Q4 24 | 5.0% | -697.5% | ||
| Q3 24 | — | -121.5% | ||
| Q2 24 | 27.7% | -183.0% | ||
| Q1 24 | 42.5% | -245.9% |
每股收益（稀释后）IMMRPLUG
| Q4 25 | — | $-0.70 | ||
| Q3 25 | — | $-0.31 | ||
| Q2 25 | $-0.57 | $-0.20 | ||
| Q1 25 | $0.73 | $-0.21 | ||
| Q4 24 | $0.93 | $-1.61 | ||
| Q3 24 | — | $-0.25 | ||
| Q2 24 | $0.81 | $-0.36 | ||
| Q1 24 | $0.59 | $-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 | $161.4M | $368.5M |
| 总债务越低越好 | $103.1M | — |
| 股东权益账面价值 | $298.1M | $978.1M |
| 总资产 | $1.1B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.35× | — |
8季度趋势，按日历期对齐
现金及短期投资IMMRPLUG
| Q4 25 | — | $368.5M | ||
| Q3 25 | — | $165.9M | ||
| Q2 25 | $161.4M | $140.7M | ||
| Q1 25 | $153.9M | $295.8M | ||
| Q4 24 | $159.3M | $205.7M | ||
| Q3 24 | — | $93.9M | ||
| Q2 24 | $133.4M | $62.4M | ||
| Q1 24 | $179.1M | $172.9M |
总债务IMMRPLUG
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $103.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $3.9M | ||
| Q2 24 | — | $3.7M | ||
| Q1 24 | — | $3.8M |
股东权益IMMRPLUG
| Q4 25 | — | $978.1M | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | $298.1M | $1.7B | ||
| Q1 25 | $317.9M | $1.9B | ||
| Q4 24 | $305.5M | $1.7B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | $273.4M | $3.0B | ||
| Q1 24 | $201.5M | $2.9B |
总资产IMMRPLUG
| Q4 25 | — | $2.6B | ||
| Q3 25 | — | $3.1B | ||
| Q2 25 | $1.1B | $3.4B | ||
| Q1 25 | $1.4B | $3.6B | ||
| Q4 24 | $1.4B | $3.6B | ||
| Q3 24 | — | $4.7B | ||
| Q2 24 | $1.2B | $4.8B | ||
| Q1 24 | $244.7M | $4.8B |
负债/权益比IMMRPLUG
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.35× | — | ||
| 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 | — | $-148.6M |
| 自由现金流经营现金流 - 资本支出 | — | $-153.0M |
| 自由现金流率自由现金流/营收 | — | -67.9% |
| 资本支出强度资本支出/营收 | — | 1.9% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $-647.0M |
8季度趋势，按日历期对齐
经营现金流IMMRPLUG
| Q4 25 | — | $-148.6M | ||
| Q3 25 | — | $-89.8M | ||
| Q2 25 | — | $-191.8M | ||
| Q1 25 | $-43.7M | $-105.6M | ||
| Q4 24 | — | $-131.2M | ||
| Q3 24 | — | $-174.9M | ||
| Q2 24 | $-85.9M | $-254.7M | ||
| Q1 24 | $29.9M | $-167.7M |
自由现金流IMMRPLUG
| Q4 25 | — | $-153.0M | ||
| Q3 25 | — | $-117.5M | ||
| Q2 25 | — | $-230.4M | ||
| Q1 25 | $-46.2M | $-146.0M | ||
| Q4 24 | — | $-165.2M | ||
| Q3 24 | — | $-234.2M | ||
| Q2 24 | — | $-356.0M | ||
| Q1 24 | — | $-260.3M |
自由现金流率IMMRPLUG
| Q4 25 | — | -67.9% | ||
| Q3 25 | — | -66.4% | ||
| Q2 25 | — | -132.5% | ||
| Q1 25 | -9.8% | -109.2% | ||
| Q4 24 | — | -86.3% | ||
| Q3 24 | — | -134.8% | ||
| Q2 24 | — | -248.4% | ||
| Q1 24 | — | -216.5% |
资本支出强度IMMRPLUG
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 15.6% | ||
| Q2 25 | — | 22.2% | ||
| Q1 25 | 0.5% | 30.3% | ||
| Q4 24 | — | 17.7% | ||
| Q3 24 | — | 34.1% | ||
| Q2 24 | — | 70.7% | ||
| Q1 24 | — | 77.0% |
现金转化率IMMRPLUG
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -1.82× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -3.25× | — | ||
| Q1 24 | 1.60× | — |
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
IMMR
| Course Material Sale | $150.9M | 40% |
| General Merchandise Sale | $138.0M | 37% |
| Rental Services | $51.8M | 14% |
| Services And Other Revenue | $25.6M | 7% |
| Per Unit Royalties | $1.8M | 0% |
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% |
