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国际纸业（IP）与金佰利（KMB）财务数据对比。点击上方公司名可切换其他公司
国际纸业的季度营收约是金佰利的1.4倍（$6.0B vs $4.2B），金佰利净利率更高（16.2% vs 1.0%，领先15.2%），金佰利同比增速更快（2.7% vs -0.6%），过去两年国际纸业的营收复合增速更高（12.3% vs -9.0%）
国际纸业是总部位于美国田纳西州孟菲斯的纸浆及造纸企业，为全球规模最大的同类型企业，目前拥有约3.9万名员工，产品覆盖纸浆、包装用纸、办公用纸等品类，业务遍及全球多个国家和地区，广泛服务各行业客户的相关需求。
金佰利是源自美国的跨国消费品及个人护理集团，主打纸质类消费品，同时生产卫生用纸制品、外科及医疗器具。旗下拥有舒洁面巾纸、高洁丝女性护理产品、好奇纸尿裤及婴儿湿巾、Scott卫生纸等知名品牌，产品销往全球多个国家和地区。
IP vs KMB — 直观对比
营收规模更大
IP
是对方的1.4倍
$4.2B
营收增速更快
KMB
高出3.3%
-0.6%
净利率更高
KMB
高出15.2%
1.0%
两年增速更快
IP
近两年复合增速
-9.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $4.2B |
| 净利润 | $60.0M | $675.0M |
| 毛利率 | — | 36.8% |
| 营业利润率 | — | 18.1% |
| 净利率 | 1.0% | 16.2% |
| 营收同比 | -0.6% | 2.7% |
| 净利润同比 | 157.1% | 17.3% |
| 每股收益（稀释后） | $0.14 | $2.00 |
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IPKMB
| Q1 26 | $6.0B | $4.2B | ||
| Q4 25 | $4.7B | $3.3B | ||
| Q3 25 | $6.2B | $4.2B | ||
| Q2 25 | $6.8B | $4.2B | ||
| Q1 25 | $5.9B | $4.8B | ||
| Q4 24 | $4.6B | $4.9B | ||
| Q3 24 | $4.7B | $5.0B | ||
| Q2 24 | $4.7B | $5.0B |
净利润IPKMB
| Q1 26 | $60.0M | $675.0M | ||
| Q4 25 | $-2.4B | $499.0M | ||
| Q3 25 | $-1.1B | $446.0M | ||
| Q2 25 | $75.0M | $509.0M | ||
| Q1 25 | $-105.0M | $567.0M | ||
| Q4 24 | $-147.0M | $447.0M | ||
| Q3 24 | $150.0M | $907.0M | ||
| Q2 24 | $498.0M | $544.0M |
毛利率IPKMB
| Q1 26 | — | 36.8% | ||
| Q4 25 | 32.2% | 37.7% | ||
| Q3 25 | 31.1% | 36.0% | ||
| Q2 25 | 27.9% | 35.0% | ||
| Q1 25 | 27.8% | 35.8% | ||
| Q4 24 | 29.0% | 34.0% | ||
| Q3 24 | 28.7% | 36.0% | ||
| Q2 24 | 29.0% | 36.0% |
营业利润率IPKMB
| Q1 26 | — | 18.1% | ||
| Q4 25 | -56.4% | 11.2% | ||
| Q3 25 | -10.8% | 15.0% | ||
| Q2 25 | 1.7% | 14.2% | ||
| Q1 25 | -2.3% | 15.9% | ||
| Q4 24 | -4.9% | 11.1% | ||
| Q3 24 | 5.1% | 23.3% | ||
| Q2 24 | 6.8% | 13.0% |
净利率IPKMB
| Q1 26 | 1.0% | 16.2% | ||
| Q4 25 | -50.3% | 15.1% | ||
| Q3 25 | -17.7% | 10.7% | ||
| Q2 25 | 1.1% | 12.2% | ||
| Q1 25 | -1.8% | 11.7% | ||
| Q4 24 | -3.2% | 9.1% | ||
| Q3 24 | 3.2% | 18.3% | ||
| Q2 24 | 10.5% | 10.8% |
每股收益（稀释后）IPKMB
| Q1 26 | $0.14 | $2.00 | ||
| Q4 25 | $-4.76 | $1.50 | ||
| Q3 25 | $-2.09 | $1.34 | ||
| Q2 25 | $0.14 | $1.53 | ||
| Q1 25 | $-0.24 | $1.70 | ||
| Q4 24 | $-0.42 | $1.34 | ||
| Q3 24 | $0.42 | $2.69 | ||
| Q2 24 | $1.41 | $1.61 |
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 | — | $542.0K |
| 总债务越低越好 | $8.2B | $6.5M |
| 股东权益账面价值 | $14.8B | $1.9M |
| 总资产 | $36.4B | $17.2M |
| 负债/权益比越低杠杆越低 | 0.55× | 3.38× |
8季度趋势，按日历期对齐
现金及短期投资IPKMB
| Q1 26 | — | $542.0K | ||
| Q4 25 | $1.1B | $688.0M | ||
| Q3 25 | $995.0M | $617.0M | ||
| Q2 25 | $1.1B | $634.0M | ||
| Q1 25 | $1.2B | $563.0M | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.0B | $1.2B |
总债务IPKMB
| Q1 26 | $8.2B | $6.5M | ||
| Q4 25 | $8.8B | $6.5B | ||
| Q3 25 | $9.0B | $6.5B | ||
| Q2 25 | $9.7B | $6.5B | ||
| Q1 25 | $9.2B | $6.5B | ||
| Q4 24 | $5.4B | $6.9B | ||
| Q3 24 | $5.3B | $6.9B | ||
| Q2 24 | $5.3B | $7.2B |
股东权益IPKMB
| Q1 26 | $14.8B | $1.9M | ||
| Q4 25 | $14.8B | $1.5B | ||
| Q3 25 | $17.3B | $1.3B | ||
| Q2 25 | $18.6B | $1.3B | ||
| Q1 25 | $18.1B | $1.1B | ||
| Q4 24 | $8.2B | $840.0M | ||
| Q3 24 | $8.6B | $1.3B | ||
| Q2 24 | $8.6B | $1.1B |
总资产IPKMB
| Q1 26 | $36.4B | $17.2M | ||
| Q4 25 | $38.0B | $17.1B | ||
| Q3 25 | $40.6B | $16.9B | ||
| Q2 25 | $42.4B | $16.8B | ||
| Q1 25 | $41.2B | $16.3B | ||
| Q4 24 | $22.8B | $16.5B | ||
| Q3 24 | $23.2B | $17.2B | ||
| Q2 24 | $23.1B | $17.3B |
负债/权益比IPKMB
| Q1 26 | 0.55× | 3.38× | ||
| Q4 25 | 0.60× | 4.31× | ||
| Q3 25 | 0.52× | 4.86× | ||
| Q2 25 | 0.52× | 5.09× | ||
| Q1 25 | 0.51× | 5.89× | ||
| Q4 24 | 0.66× | 8.18× | ||
| Q3 24 | 0.62× | 5.36× | ||
| Q2 24 | 0.62× | 6.30× |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | $94.0M | — |
| 自由现金流率自由现金流/营收 | 1.6% | — |
| 资本支出强度资本支出/营收 | 8.7% | — |
| 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 | $553.0M | — |
8季度趋势，按日历期对齐
经营现金流IPKMB
| Q1 26 | — | — | ||
| Q4 25 | $905.0M | $972.0M | ||
| Q3 25 | $605.0M | $708.0M | ||
| Q2 25 | $476.0M | $770.0M | ||
| Q1 25 | $-288.0M | $327.0M | ||
| Q4 24 | $397.0M | $817.0M | ||
| Q3 24 | $521.0M | $958.0M | ||
| Q2 24 | $365.0M | $1.0B |
自由现金流IPKMB
| Q1 26 | $94.0M | — | ||
| Q4 25 | $255.0M | $575.0M | ||
| Q3 25 | $150.0M | $368.0M | ||
| Q2 25 | $54.0M | $573.0M | ||
| Q1 25 | $-618.0M | $123.0M | ||
| Q4 24 | $137.0M | $608.0M | ||
| Q3 24 | $309.0M | $798.0M | ||
| Q2 24 | $167.0M | $863.0M |
自由现金流率IPKMB
| Q1 26 | 1.6% | — | ||
| Q4 25 | 5.4% | 17.5% | ||
| Q3 25 | 2.4% | 8.9% | ||
| Q2 25 | 0.8% | 13.8% | ||
| Q1 25 | -10.5% | 2.5% | ||
| Q4 24 | 3.0% | 12.3% | ||
| Q3 24 | 6.6% | 16.1% | ||
| Q2 24 | 3.5% | 17.2% |
资本支出强度IPKMB
| Q1 26 | 8.7% | — | ||
| Q4 25 | 13.7% | 12.1% | ||
| Q3 25 | 7.3% | 8.2% | ||
| Q2 25 | 6.2% | 4.7% | ||
| Q1 25 | 5.6% | 4.2% | ||
| Q4 24 | 5.7% | 4.2% | ||
| Q3 24 | 4.5% | 3.2% | ||
| Q2 24 | 4.2% | 3.1% |
现金转化率IPKMB
| Q1 26 | — | — | ||
| Q4 25 | — | 1.95× | ||
| Q3 25 | — | 1.59× | ||
| Q2 25 | 6.35× | 1.51× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 1.83× | ||
| Q3 24 | 3.47× | 1.06× | ||
| Q2 24 | 0.73× | 1.88× |
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
IP
| Packaging Solutions North America | $3.6B | 61% |
| Packaging Solutions EMEA | $2.3B | 39% |
| Corporate and Inter-segment Sales | $22.0M | 0% |
KMB
| NA | $2.7B | 64% |
| IPC | $1.5B | 36% |
