vs
IMMERSION CORP（IMMR）与Turtle Beach Corp（TBCH）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Turtle Beach Corp的3.9倍（$372.9M vs $95.1M），Turtle Beach Corp净利率更高（18.5% vs -4.6%，领先23.1%），IMMERSION CORP同比增速更快（750.4% vs -34.9%），过去两年IMMERSION CORP的营收复合增速更高（537.9% vs 30.5%）
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。
乌龟海滩公司是总部位于美国加利福尼亚州圣地亚哥的游戏外设制造商，品牌历史可追溯至20世纪70年代，最初业务为开发声卡、MIDI合成器、各类音频软件与网络音频设备，自2005年起开始生产游戏耳机，是游戏音频外设领域的资深厂商。
IMMR vs TBCH — 直观对比
营收规模更大
IMMR
是对方的3.9倍
$95.1M
营收增速更快
IMMR
高出785.3%
-34.9%
净利率更高
TBCH
高出23.1%
-4.6%
两年增速更快
IMMR
近两年复合增速
30.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $372.9M | $95.1M |
| 净利润 | $-17.0M | $17.6M |
| 毛利率 | — | 50.0% |
| 营业利润率 | -2.8% | 22.0% |
| 净利率 | -4.6% | 18.5% |
| 营收同比 | 750.4% | -34.9% |
| 净利润同比 | -191.3% | -12.6% |
| 每股收益（稀释后） | $-0.57 | $0.86 |
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IMMRTBCH
| Q4 25 | — | $95.1M | ||
| Q3 25 | — | $80.5M | ||
| Q2 25 | $372.9M | $80.5M | ||
| Q1 25 | $471.3M | $63.9M | ||
| Q4 24 | $616.2M | $146.1M | ||
| Q3 24 | — | $94.4M | ||
| Q2 24 | $95.5M | $76.5M | ||
| Q1 24 | $43.8M | $55.8M |
净利润IMMRTBCH
| Q4 25 | — | $17.6M | ||
| Q3 25 | — | $1.7M | ||
| Q2 25 | $-17.0M | $-2.9M | ||
| Q1 25 | $24.1M | $-664.0K | ||
| Q4 24 | $30.8M | $20.1M | ||
| Q3 24 | — | $3.4M | ||
| Q2 24 | $26.4M | $-7.5M | ||
| Q1 24 | $18.7M | $155.0K |
毛利率IMMRTBCH
| Q4 25 | — | 50.0% | ||
| Q3 25 | — | 37.4% | ||
| Q2 25 | — | 22.7% | ||
| Q1 25 | — | 36.6% | ||
| Q4 24 | — | 37.0% | ||
| Q3 24 | — | 36.2% | ||
| Q2 24 | — | 30.2% | ||
| Q1 24 | — | 31.8% |
营业利润率IMMRTBCH
| Q4 25 | — | 22.0% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | -2.8% | -0.4% | ||
| Q1 25 | 7.5% | 2.4% | ||
| Q4 24 | 11.4% | 16.0% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | 23.7% | -5.4% | ||
| Q1 24 | 37.9% | -10.2% |
净利率IMMRTBCH
| Q4 25 | — | 18.5% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | -4.6% | -3.6% | ||
| Q1 25 | 5.1% | -1.0% | ||
| Q4 24 | 5.0% | 13.8% | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | 27.7% | -9.8% | ||
| Q1 24 | 42.5% | 0.3% |
每股收益（稀释后）IMMRTBCH
| Q4 25 | — | $0.86 | ||
| Q3 25 | — | $0.08 | ||
| Q2 25 | $-0.57 | $-0.14 | ||
| Q1 25 | $0.73 | $-0.03 | ||
| Q4 24 | $0.93 | $0.96 | ||
| Q3 24 | — | $0.16 | ||
| Q2 24 | $0.81 | $-0.35 | ||
| Q1 24 | $0.59 | $0.01 |
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 | $17.0M |
| 总债务越低越好 | $103.1M | $55.7M |
| 股东权益账面价值 | $298.1M | $128.5M |
| 总资产 | $1.1B | $269.1M |
| 负债/权益比越低杠杆越低 | 0.35× | 0.43× |
8季度趋势，按日历期对齐
现金及短期投资IMMRTBCH
| Q4 25 | — | $17.0M | ||
| Q3 25 | — | $12.3M | ||
| Q2 25 | $161.4M | $11.7M | ||
| Q1 25 | $153.9M | $11.7M | ||
| Q4 24 | $159.3M | $13.0M | ||
| Q3 24 | — | $13.8M | ||
| Q2 24 | $133.4M | $12.5M | ||
| Q1 24 | $179.1M | $17.8M |
总债务IMMRTBCH
| Q4 25 | — | $55.7M | ||
| Q3 25 | — | $57.9M | ||
| Q2 25 | $103.1M | $43.3M | ||
| Q1 25 | — | $48.6M | ||
| Q4 24 | — | $49.0M | ||
| Q3 24 | — | $49.3M | ||
| Q2 24 | — | $49.6M | ||
| Q1 24 | — | $49.9M |
股东权益IMMRTBCH
| Q4 25 | — | $128.5M | ||
| Q3 25 | — | $110.7M | ||
| Q2 25 | $298.1M | $116.8M | ||
| Q1 25 | $317.9M | $120.9M | ||
| Q4 24 | $305.5M | $120.6M | ||
| Q3 24 | — | $101.8M | ||
| Q2 24 | $273.4M | $105.3M | ||
| Q1 24 | $201.5M | $125.2M |
总资产IMMRTBCH
| Q4 25 | — | $269.1M | ||
| Q3 25 | — | $278.2M | ||
| Q2 25 | $1.1B | $240.2M | ||
| Q1 25 | $1.4B | $247.0M | ||
| Q4 24 | $1.4B | $298.9M | ||
| Q3 24 | — | $313.2M | ||
| Q2 24 | $1.2B | $264.4M | ||
| Q1 24 | $244.7M | $258.4M |
负债/权益比IMMRTBCH
| Q4 25 | — | 0.43× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | 0.35× | 0.37× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | 0.41× | ||
| Q3 24 | — | 0.48× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.40× |
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 | — | $13.3M |
| 自由现金流经营现金流 - 资本支出 | — | $13.1M |
| 自由现金流率自由现金流/营收 | — | 13.8% |
| 资本支出强度资本支出/营收 | — | 0.3% |
| 现金转化率经营现金流/净利润 | — | 0.76× |
| 过去12个月自由现金流最近4个季度 | — | $34.0M |
8季度趋势，按日历期对齐
经营现金流IMMRTBCH
| Q4 25 | — | $13.3M | ||
| Q3 25 | — | $-15.2M | ||
| Q2 25 | — | $-3.1M | ||
| Q1 25 | $-43.7M | $40.5M | ||
| Q4 24 | — | $14.3M | ||
| Q3 24 | — | $-23.2M | ||
| Q2 24 | $-85.9M | $-12.6M | ||
| Q1 24 | $29.9M | $27.3M |
自由现金流IMMRTBCH
| Q4 25 | — | $13.1M | ||
| Q3 25 | — | $-15.9M | ||
| Q2 25 | — | $-3.5M | ||
| Q1 25 | $-46.2M | $40.3M | ||
| Q4 24 | — | $12.8M | ||
| Q3 24 | — | $-24.6M | ||
| Q2 24 | — | $-13.9M | ||
| Q1 24 | — | $26.5M |
自由现金流率IMMRTBCH
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | -19.7% | ||
| Q2 25 | — | -4.3% | ||
| Q1 25 | -9.8% | 63.0% | ||
| Q4 24 | — | 8.8% | ||
| Q3 24 | — | -26.1% | ||
| Q2 24 | — | -18.1% | ||
| Q1 24 | — | 47.5% |
资本支出强度IMMRTBCH
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | 0.5% | 0.3% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | 1.3% |
现金转化率IMMRTBCH
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | -8.84× | ||
| Q2 25 | — | — | ||
| Q1 25 | -1.82× | — | ||
| Q4 24 | — | 0.71× | ||
| Q3 24 | — | -6.79× | ||
| Q2 24 | -3.25× | — | ||
| Q1 24 | 1.60× | 175.85× |
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% |
TBCH
| Europe And Middle East | $71.0M | 75% |
| Asia Pacific | $13.3M | 14% |
| Other | $10.8M | 11% |
