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INNOSPEC INC.（IOSP）与美世（MERC）财务数据对比。点击上方公司名可切换其他公司
INNOSPEC INC.的季度营收约是美世的1.0倍（$455.6M vs $449.5M），INNOSPEC INC.净利率更高（10.4% vs -68.7%，领先79.1%），INNOSPEC INC.同比增速更快（-2.4% vs -8.0%），INNOSPEC INC.自由现金流更多（$46.8M vs $32.0M），过去两年INNOSPEC INC.的营收复合增速更高（-4.6% vs -9.9%）
Innospec Inc.是一家美国特种化学品企业，前身为奥克泰尔公司及联合奥克泰尔有限公司，旗下设有三大业务板块：高性能化学品业务覆盖个人护理、家居护理、农化、采矿及工业市场；燃料特种化学品业务专注于生产和供应燃油添加剂；油田服务业务则提供钻井、完井及采油相关化学品。
美世是1945年成立的美国咨询公司，为全球专业服务集团威达信的四大运营子公司之一，总部位于纽约，在43个国家设有办事处，业务覆盖130个国家，主要为客户提供人力资源与金融咨询服务。
IOSP vs MERC — 直观对比
营收规模更大
IOSP
是对方的1.0倍
$449.5M
营收增速更快
IOSP
高出5.6%
-8.0%
净利率更高
IOSP
高出79.1%
-68.7%
自由现金流更多
IOSP
多$14.8M
$32.0M
两年增速更快
IOSP
近两年复合增速
-9.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $455.6M | $449.5M |
| 净利润 | $47.4M | $-308.7M |
| 毛利率 | 28.0% | — |
| 营业利润率 | 10.3% | -62.0% |
| 净利率 | 10.4% | -68.7% |
| 营收同比 | -2.4% | -8.0% |
| 净利润同比 | 167.3% | -1947.7% |
| 每股收益（稀释后） | $1.90 | $-4.61 |
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IOSPMERC
| Q4 25 | $455.6M | $449.5M | ||
| Q3 25 | $441.9M | $458.1M | ||
| Q2 25 | $439.7M | $453.5M | ||
| Q1 25 | $440.8M | $507.0M | ||
| Q4 24 | $466.8M | $488.4M | ||
| Q3 24 | $443.4M | $502.1M | ||
| Q2 24 | $435.0M | $499.4M | ||
| Q1 24 | $500.2M | $553.4M |
净利润IOSPMERC
| Q4 25 | $47.4M | $-308.7M | ||
| Q3 25 | $12.9M | $-80.8M | ||
| Q2 25 | $23.5M | $-86.1M | ||
| Q1 25 | $32.8M | $-22.3M | ||
| Q4 24 | $-70.4M | $16.7M | ||
| Q3 24 | $33.4M | $-17.6M | ||
| Q2 24 | $31.2M | $-67.6M | ||
| Q1 24 | $41.4M | $-16.7M |
毛利率IOSPMERC
| Q4 25 | 28.0% | — | ||
| Q3 25 | 26.4% | — | ||
| Q2 25 | 28.0% | — | ||
| Q1 25 | 28.4% | — | ||
| Q4 24 | 29.2% | — | ||
| Q3 24 | 28.0% | — | ||
| Q2 24 | 29.2% | — | ||
| Q1 24 | 31.1% | — |
营业利润率IOSPMERC
| Q4 25 | 10.3% | -62.0% | ||
| Q3 25 | 1.3% | -14.8% | ||
| Q2 25 | 7.8% | -12.9% | ||
| Q1 25 | 9.6% | 1.3% | ||
| Q4 24 | 8.8% | 10.3% | ||
| Q3 24 | 10.3% | 1.8% | ||
| Q2 24 | 9.4% | -8.8% | ||
| Q1 24 | 10.1% | -0.1% |
净利率IOSPMERC
| Q4 25 | 10.4% | -68.7% | ||
| Q3 25 | 2.9% | -17.6% | ||
| Q2 25 | 5.3% | -19.0% | ||
| Q1 25 | 7.4% | -4.4% | ||
| Q4 24 | -15.1% | 3.4% | ||
| Q3 24 | 7.5% | -3.5% | ||
| Q2 24 | 7.2% | -13.5% | ||
| Q1 24 | 8.3% | -3.0% |
每股收益（稀释后）IOSPMERC
| Q4 25 | $1.90 | $-4.61 | ||
| Q3 25 | $0.52 | $-1.21 | ||
| Q2 25 | $0.94 | $-1.29 | ||
| Q1 25 | $1.31 | $-0.33 | ||
| Q4 24 | $-2.80 | $0.25 | ||
| Q3 24 | $1.33 | $-0.26 | ||
| Q2 24 | $1.24 | $-1.01 | ||
| Q1 24 | $1.65 | $-0.25 |
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 | $292.5M | $186.8M |
| 总债务越低越好 | — | $1.6B |
| 股东权益账面价值 | $1.3B | $68.1M |
| 总资产 | $1.8B | $2.0B |
| 负债/权益比越低杠杆越低 | — | 23.58× |
8季度趋势，按日历期对齐
现金及短期投资IOSPMERC
| Q4 25 | $292.5M | $186.8M | ||
| Q3 25 | $270.8M | $98.1M | ||
| Q2 25 | $266.6M | $146.5M | ||
| Q1 25 | $299.8M | $181.5M | ||
| Q4 24 | $289.2M | $184.9M | ||
| Q3 24 | $303.8M | $239.0M | ||
| Q2 24 | $240.2M | $263.2M | ||
| Q1 24 | $270.1M | $274.3M |
总债务IOSPMERC
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.6B |
股东权益IOSPMERC
| Q4 25 | $1.3B | $68.1M | ||
| Q3 25 | $1.3B | $359.5M | ||
| Q2 25 | $1.3B | $446.5M | ||
| Q1 25 | $1.3B | $437.4M | ||
| Q4 24 | $1.2B | $429.8M | ||
| Q3 24 | $1.2B | $516.8M | ||
| Q2 24 | $1.2B | $487.7M | ||
| Q1 24 | $1.2B | $573.6M |
总资产IOSPMERC
| Q4 25 | $1.8B | $2.0B | ||
| Q3 25 | $1.8B | $2.3B | ||
| Q2 25 | $1.8B | $2.4B | ||
| Q1 25 | $1.8B | $2.3B | ||
| Q4 24 | $1.7B | $2.3B | ||
| Q3 24 | $1.8B | $2.5B | ||
| Q2 24 | $1.7B | $2.5B | ||
| Q1 24 | $1.7B | $2.6B |
负债/权益比IOSPMERC
| Q4 25 | — | 23.58× | ||
| Q3 25 | — | 4.30× | ||
| Q2 25 | — | 3.42× | ||
| Q1 25 | — | 3.44× | ||
| Q4 24 | — | 3.43× | ||
| Q3 24 | — | 3.09× | ||
| Q2 24 | — | 3.22× | ||
| Q1 24 | — | 2.82× |
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 | $61.4M | $46.2M |
| 自由现金流经营现金流 - 资本支出 | $46.8M | $32.0M |
| 自由现金流率自由现金流/营收 | 10.3% | 7.1% |
| 资本支出强度资本支出/营收 | 3.2% | 3.1% |
| 现金转化率经营现金流/净利润 | 1.30× | — |
| 过去12个月自由现金流最近4个季度 | $88.0M | $-80.0M |
8季度趋势，按日历期对齐
经营现金流IOSPMERC
| Q4 25 | $61.4M | $46.2M | ||
| Q3 25 | $39.3M | $-30.1M | ||
| Q2 25 | $9.3M | $-4.5M | ||
| Q1 25 | $28.3M | $-3.0M | ||
| Q4 24 | $25.7M | $71.2M | ||
| Q3 24 | $73.5M | $-13.9M | ||
| Q2 24 | $4.7M | $62.2M | ||
| Q1 24 | $80.6M | $-29.2M |
自由现金流IOSPMERC
| Q4 25 | $46.8M | $32.0M | ||
| Q3 25 | $25.0M | $-60.1M | ||
| Q2 25 | $-3.7M | $-28.9M | ||
| Q1 25 | $19.9M | $-23.1M | ||
| Q4 24 | $13.6M | $50.4M | ||
| Q3 24 | $65.8M | $-41.2M | ||
| Q2 24 | $-6.2M | $44.3M | ||
| Q1 24 | $69.9M | $-47.7M |
自由现金流率IOSPMERC
| Q4 25 | 10.3% | 7.1% | ||
| Q3 25 | 5.7% | -13.1% | ||
| Q2 25 | -0.8% | -6.4% | ||
| Q1 25 | 4.5% | -4.6% | ||
| Q4 24 | 2.9% | 10.3% | ||
| Q3 24 | 14.8% | -8.2% | ||
| Q2 24 | -1.4% | 8.9% | ||
| Q1 24 | 14.0% | -8.6% |
资本支出强度IOSPMERC
| Q4 25 | 3.2% | 3.1% | ||
| Q3 25 | 3.2% | 6.6% | ||
| Q2 25 | 3.0% | 5.4% | ||
| Q1 25 | 1.9% | 4.0% | ||
| Q4 24 | 2.6% | 4.2% | ||
| Q3 24 | 1.7% | 5.4% | ||
| Q2 24 | 2.5% | 3.6% | ||
| Q1 24 | 2.1% | 3.3% |
现金转化率IOSPMERC
| Q4 25 | 1.30× | — | ||
| Q3 25 | 3.05× | — | ||
| Q2 25 | 0.40× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | — | 4.26× | ||
| Q3 24 | 2.20× | — | ||
| Q2 24 | 0.15× | — | ||
| Q1 24 | 1.95× | — |
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
IOSP
| Refinery And Performance | $147.0M | 32% |
| Personal Care | $99.7M | 22% |
| Oilfield Services | $93.1M | 20% |
| Other Fuel Specialties | $47.1M | 10% |
| Other Performance Chemicals | $40.0M | 9% |
| Home Care | $28.7M | 6% |
MERC
| Other | $215.3M | 48% |
| Solid Wood | $110.2M | 25% |
| Lumber | $54.9M | 12% |
| Pallets | $23.7M | 5% |
| Energyandchemicals | $18.7M | 4% |
| Manufactured Products | $14.1M | 3% |
| Biofuels | $10.0M | 2% |
| Wood Residuals | $2.6M | 1% |
