vs
宜瑞安（INGR）与埃培智集团（IPG）财务数据对比。点击上方公司名可切换其他公司
埃培智集团的季度营收约是宜瑞安的1.2倍（$2.1B vs $1.8B），宜瑞安净利率更高（9.5% vs 5.8%，领先3.7%），宜瑞安同比增速更快（-2.4% vs -4.8%），宜瑞安自由现金流更多（$270.0M vs $153.6M），过去两年宜瑞安的营收复合增速更高（-3.4% vs -9.1%）
宜瑞安（Ingredion Inc.）是总部位于美国伊利诺伊州的食品饮料配料供应商，主打产品包括淀粉、非转基因甜味剂、甜菊糖、豌豆蛋白等，以玉米、木薯、马铃薯、谷物、果蔬等为原料，产品供应食品、饮料、酿造、制药等多个行业，在全球44个站点拥有约1.2万名员工，客户覆盖超120个国家。
埃培智集团（IPG）是总部位于美国纽约的广告营销传播集团，旗下拥有FCB、IPG盟博、麦肯世界集团、睿狮集团等五大核心业务网络，以及公关、体育营销、艺人经纪、医疗营销等领域的多家专业独立代理商，被宏盟收购前是与WPP、阳狮、宏盟齐名的全球广告行业“四大集团”之一。
INGR vs IPG — 直观对比
营收规模更大
IPG
是对方的1.2倍
$1.8B
营收增速更快
INGR
高出2.4%
-4.8%
净利率更高
INGR
高出3.7%
5.8%
自由现金流更多
INGR
多$116.4M
$153.6M
两年增速更快
INGR
近两年复合增速
-9.1%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $2.1B |
| 净利润 | $167.0M | $124.2M |
| 毛利率 | 24.5% | — |
| 营业利润率 | 12.5% | 10.3% |
| 净利率 | 9.5% | 5.8% |
| 营收同比 | -2.4% | -4.8% |
| 净利润同比 | 72.2% | 517.9% |
| 每股收益（稀释后） | $2.58 | $0.34 |
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INGRIPG
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.8B | $2.1B | ||
| Q2 25 | $1.8B | $2.2B | ||
| Q1 25 | $1.8B | $2.0B | ||
| Q4 24 | $1.8B | $2.4B | ||
| Q3 24 | $1.9B | $2.2B | ||
| Q2 24 | $1.9B | $2.3B | ||
| Q1 24 | $1.9B | $2.2B |
净利润INGRIPG
| Q4 25 | $167.0M | — | ||
| Q3 25 | $171.0M | $124.2M | ||
| Q2 25 | $196.0M | $162.5M | ||
| Q1 25 | $197.0M | $-85.4M | ||
| Q4 24 | $97.0M | $344.5M | ||
| Q3 24 | $188.0M | $20.1M | ||
| Q2 24 | $148.0M | $214.5M | ||
| Q1 24 | $216.0M | $110.4M |
毛利率INGRIPG
| Q4 25 | 24.5% | — | ||
| Q3 25 | 25.1% | — | ||
| Q2 25 | 26.0% | — | ||
| Q1 25 | 25.7% | -3.2% | ||
| Q4 24 | 24.9% | 10.1% | ||
| Q3 24 | 25.6% | 2.9% | ||
| Q2 24 | 23.7% | 1.2% | ||
| Q1 24 | 22.2% | -1.1% |
营业利润率INGRIPG
| Q4 25 | 12.5% | — | ||
| Q3 25 | 13.7% | 10.3% | ||
| Q2 25 | 14.8% | 11.2% | ||
| Q1 25 | 15.2% | -2.1% | ||
| Q4 24 | 9.0% | 23.3% | ||
| Q3 24 | 14.3% | 5.9% | ||
| Q2 24 | 12.8% | 13.7% | ||
| Q1 24 | 11.3% | 8.4% |
净利率INGRIPG
| Q4 25 | 9.5% | — | ||
| Q3 25 | 9.4% | 5.8% | ||
| Q2 25 | 10.7% | 7.5% | ||
| Q1 25 | 10.9% | -4.3% | ||
| Q4 24 | 5.4% | 14.1% | ||
| Q3 24 | 10.1% | 0.9% | ||
| Q2 24 | 7.9% | 9.2% | ||
| Q1 24 | 11.5% | 5.1% |
每股收益（稀释后）INGRIPG
| Q4 25 | $2.58 | — | ||
| Q3 25 | $2.61 | $0.34 | ||
| Q2 25 | $2.99 | $0.44 | ||
| Q1 25 | $3.00 | $-0.23 | ||
| Q4 24 | $1.43 | $0.92 | ||
| Q3 24 | $2.83 | $0.05 | ||
| Q2 24 | $2.22 | $0.57 | ||
| Q1 24 | $3.23 | $0.29 |
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 | $1.0B | $1.5B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.3B | $3.7B |
| 总资产 | $7.9B | $17.0B |
| 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INGRIPG
| Q4 25 | $1.0B | — | ||
| Q3 25 | $915.0M | $1.5B | ||
| Q2 25 | $861.0M | $1.6B | ||
| Q1 25 | $837.0M | $1.9B | ||
| Q4 24 | $997.0M | $2.2B | ||
| Q3 24 | $877.0M | $1.5B | ||
| Q2 24 | $505.0M | $1.5B | ||
| Q1 24 | $438.0M | $1.9B |
股东权益INGRIPG
| Q4 25 | $4.3B | — | ||
| Q3 25 | $4.2B | $3.7B | ||
| Q2 25 | $4.2B | $3.7B | ||
| Q1 25 | $4.0B | $3.6B | ||
| Q4 24 | $3.8B | $3.8B | ||
| Q3 24 | $4.0B | $3.7B | ||
| Q2 24 | $3.7B | $3.8B | ||
| Q1 24 | $3.7B | $3.8B |
总资产INGRIPG
| Q4 25 | $7.9B | — | ||
| Q3 25 | $7.8B | $17.0B | ||
| Q2 25 | $7.8B | $17.0B | ||
| Q1 25 | $7.5B | $17.1B | ||
| Q4 24 | $7.4B | $18.3B | ||
| Q3 24 | $7.5B | $17.1B | ||
| Q2 24 | $7.2B | $17.0B | ||
| Q1 24 | $7.3B | $17.3B |
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 | $405.0M | $180.1M |
| 自由现金流经营现金流 - 资本支出 | $270.0M | $153.6M |
| 自由现金流率自由现金流/营收 | 15.4% | 7.2% |
| 资本支出强度资本支出/营收 | 7.7% | 1.2% |
| 现金转化率经营现金流/净利润 | 2.43× | 1.45× |
| 过去12个月自由现金流最近4个季度 | $511.0M | $806.8M |
8季度趋势，按日历期对齐
经营现金流INGRIPG
| Q4 25 | $405.0M | — | ||
| Q3 25 | $277.0M | $180.1M | ||
| Q2 25 | $185.0M | $-96.0M | ||
| Q1 25 | $77.0M | $-37.0M | ||
| Q4 24 | $436.0M | $868.1M | ||
| Q3 24 | $479.0M | $223.8M | ||
| Q2 24 | $312.0M | $120.7M | ||
| Q1 24 | $209.0M | $-157.4M |
自由现金流INGRIPG
| Q4 25 | $270.0M | — | ||
| Q3 25 | $172.0M | $153.6M | ||
| Q2 25 | $84.0M | $-121.8M | ||
| Q1 25 | $-15.0M | $-58.5M | ||
| Q4 24 | $311.0M | $833.5M | ||
| Q3 24 | $429.0M | $186.5M | ||
| Q2 24 | $257.0M | $85.9M | ||
| Q1 24 | $144.0M | $-192.5M |
自由现金流率INGRIPG
| Q4 25 | 15.4% | — | ||
| Q3 25 | 9.5% | 7.2% | ||
| Q2 25 | 4.6% | -5.6% | ||
| Q1 25 | -0.8% | -2.9% | ||
| Q4 24 | 17.3% | 34.2% | ||
| Q3 24 | 22.9% | 8.3% | ||
| Q2 24 | 13.7% | 3.7% | ||
| Q1 24 | 7.7% | -8.8% |
资本支出强度INGRIPG
| Q4 25 | 7.7% | — | ||
| Q3 25 | 5.8% | 1.2% | ||
| Q2 25 | 5.5% | 1.2% | ||
| Q1 25 | 5.1% | 1.1% | ||
| Q4 24 | 6.9% | 1.4% | ||
| Q3 24 | 2.7% | 1.7% | ||
| Q2 24 | 2.9% | 1.5% | ||
| Q1 24 | 3.5% | 1.6% |
现金转化率INGRIPG
| Q4 25 | 2.43× | — | ||
| Q3 25 | 1.62× | 1.45× | ||
| Q2 25 | 0.94× | -0.59× | ||
| Q1 25 | 0.39× | — | ||
| Q4 24 | 4.49× | 2.52× | ||
| Q3 24 | 2.55× | 11.13× | ||
| Q2 24 | 2.11× | 0.56× | ||
| Q1 24 | 0.97× | -1.43× |
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
INGR
| Food And Industrial Ingredients LATAM Segment | $599.0M | 34% |
| Texture And Healthful Solutions Segment | $598.0M | 34% |
| Food And Industrial Ingredients U.S.Canada Segment | $486.0M | 28% |
| Other | $74.0M | 4% |
IPG
| MDE | $619.0M | 29% |
| IAC | $574.9M | 27% |
| Other | $527.9M | 25% |
| SCE | $413.8M | 19% |
