vs
国际纸业（IP）与李尔公司（LEA）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李尔公司的1.0倍（$6.0B vs $5.8B），李尔公司净利率更高（3.0% vs 1.0%，领先2.0%），李尔公司同比增速更快（4.7% vs -0.6%），国际纸业自由现金流更多（$94.0M vs $-26.5M），过去两年国际纸业的营收复合增速更高（12.3% vs -1.6%）
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。
李尔公司是美国知名汽车零部件供应商，核心业务涵盖汽车座椅及电气系统的研发、生产与销售。公司曾位列2018年《财富》世界500强第148位，2019年升至第147位，在全球汽车供应链领域拥有突出的市场地位与品牌影响力。
IP vs LEA — 直观对比
营收规模更大
IP
是对方的1.0倍
$5.8B
营收增速更快
LEA
高出5.3%
-0.6%
净利率更高
LEA
高出2.0%
1.0%
自由现金流更多
IP
多$120.5M
$-26.5M
两年增速更快
IP
近两年复合增速
-1.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $5.8B |
| 净利润 | $60.0M | $172.3M |
| 毛利率 | — | 7.7% |
| 营业利润率 | — | — |
| 净利率 | 1.0% | 3.0% |
| 营收同比 | -0.6% | 4.7% |
| 净利润同比 | 157.1% | 113.5% |
| 每股收益（稀释后） | $0.14 | $3.34 |
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IPLEA
| Q1 26 | $6.0B | $5.8B | ||
| Q4 25 | $4.7B | $6.0B | ||
| Q3 25 | $6.2B | $5.7B | ||
| Q2 25 | $6.8B | $6.0B | ||
| Q1 25 | $5.9B | $5.6B | ||
| Q4 24 | $4.6B | $5.7B | ||
| Q3 24 | $4.7B | $5.6B | ||
| Q2 24 | $4.7B | $6.0B |
净利润IPLEA
| Q1 26 | $60.0M | $172.3M | ||
| Q4 25 | $-2.4B | $82.7M | ||
| Q3 25 | $-1.1B | $108.2M | ||
| Q2 25 | $75.0M | $165.2M | ||
| Q1 25 | $-105.0M | $80.7M | ||
| Q4 24 | $-147.0M | $88.1M | ||
| Q3 24 | $150.0M | $135.8M | ||
| Q2 24 | $498.0M | $173.1M |
毛利率IPLEA
| Q1 26 | — | 7.7% | ||
| Q4 25 | 32.2% | 5.7% | ||
| Q3 25 | 31.1% | 6.4% | ||
| Q2 25 | 27.9% | 7.3% | ||
| Q1 25 | 27.8% | 6.5% | ||
| Q4 24 | 29.0% | 6.8% | ||
| Q3 24 | 28.7% | 7.3% | ||
| Q2 24 | 29.0% | 7.5% |
营业利润率IPLEA
| Q1 26 | — | — | ||
| Q4 25 | -56.4% | 2.6% | ||
| Q3 25 | -10.8% | 3.4% | ||
| Q2 25 | 1.7% | 4.1% | ||
| Q1 25 | -2.3% | 3.3% | ||
| Q4 24 | -4.9% | 3.7% | ||
| Q3 24 | 5.1% | 3.9% | ||
| Q2 24 | 6.8% | 4.3% |
净利率IPLEA
| Q1 26 | 1.0% | 3.0% | ||
| Q4 25 | -50.3% | 1.4% | ||
| Q3 25 | -17.7% | 1.9% | ||
| Q2 25 | 1.1% | 2.7% | ||
| Q1 25 | -1.8% | 1.5% | ||
| Q4 24 | -3.2% | 1.5% | ||
| Q3 24 | 3.2% | 2.4% | ||
| Q2 24 | 10.5% | 2.9% |
每股收益（稀释后）IPLEA
| Q1 26 | $0.14 | $3.34 | ||
| Q4 25 | $-4.76 | $1.58 | ||
| Q3 25 | $-2.09 | $2.02 | ||
| Q2 25 | $0.14 | $3.06 | ||
| Q1 25 | $-0.24 | $1.49 | ||
| Q4 24 | $-0.42 | $1.64 | ||
| Q3 24 | $0.42 | $2.41 | ||
| Q2 24 | $1.41 | $3.02 |
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 | — | $881.9M |
| 总债务越低越好 | $8.2B | $2.7B |
| 股东权益账面价值 | $14.8B | $5.3B |
| 总资产 | $36.4B | $15.5B |
| 负债/权益比越低杠杆越低 | 0.55× | 0.52× |
8季度趋势，按日历期对齐
现金及短期投资IPLEA
| Q1 26 | — | $881.9M | ||
| Q4 25 | $1.1B | $1.0B | ||
| Q3 25 | $995.0M | $1.0B | ||
| Q2 25 | $1.1B | $887.9M | ||
| Q1 25 | $1.2B | $779.9M | ||
| Q4 24 | $1.2B | $1.1B | ||
| Q3 24 | $1.2B | $763.9M | ||
| Q2 24 | $1.0B | $950.3M |
总债务IPLEA
| Q1 26 | $8.2B | $2.7B | ||
| Q4 25 | $8.8B | $2.7B | ||
| Q3 25 | $9.0B | $2.8B | ||
| Q2 25 | $9.7B | $2.8B | ||
| Q1 25 | $9.2B | $2.7B | ||
| Q4 24 | $5.4B | $2.7B | ||
| Q3 24 | $5.3B | $2.8B | ||
| Q2 24 | $5.3B | $2.7B |
股东权益IPLEA
| Q1 26 | $14.8B | $5.3B | ||
| Q4 25 | $14.8B | $5.0B | ||
| Q3 25 | $17.3B | $5.1B | ||
| Q2 25 | $18.6B | $5.1B | ||
| Q1 25 | $18.1B | $4.7B | ||
| Q4 24 | $8.2B | $4.5B | ||
| Q3 24 | $8.6B | $4.8B | ||
| Q2 24 | $8.6B | $4.8B |
总资产IPLEA
| Q1 26 | $36.4B | $15.5B | ||
| Q4 25 | $38.0B | $14.8B | ||
| Q3 25 | $40.6B | $15.2B | ||
| Q2 25 | $42.4B | $15.3B | ||
| Q1 25 | $41.2B | $14.6B | ||
| Q4 24 | $22.8B | $14.0B | ||
| Q3 24 | $23.2B | $14.8B | ||
| Q2 24 | $23.1B | $14.7B |
负债/权益比IPLEA
| Q1 26 | 0.55× | 0.52× | ||
| Q4 25 | 0.60× | 0.54× | ||
| Q3 25 | 0.52× | 0.54× | ||
| Q2 25 | 0.52× | 0.54× | ||
| Q1 25 | 0.51× | 0.59× | ||
| Q4 24 | 0.66× | 0.61× | ||
| Q3 24 | 0.62× | 0.58× | ||
| Q2 24 | 0.62× | 0.57× |
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 | — | $98.1M |
| 自由现金流经营现金流 - 资本支出 | $94.0M | $-26.5M |
| 自由现金流率自由现金流/营收 | 1.6% | -0.5% |
| 资本支出强度资本支出/营收 | 8.7% | 2.1% |
| 现金转化率经营现金流/净利润 | — | 0.57× |
| 过去12个月自由现金流最近4个季度 | $553.0M | $732.4M |
8季度趋势，按日历期对齐
经营现金流IPLEA
| Q1 26 | — | $98.1M | ||
| Q4 25 | $905.0M | $475.9M | ||
| Q3 25 | $605.0M | $444.4M | ||
| Q2 25 | $476.0M | $296.2M | ||
| Q1 25 | $-288.0M | $-127.7M | ||
| Q4 24 | $397.0M | $680.8M | ||
| Q3 24 | $521.0M | $182.7M | ||
| Q2 24 | $365.0M | $291.2M |
自由现金流IPLEA
| Q1 26 | $94.0M | $-26.5M | ||
| Q4 25 | $255.0M | $281.1M | ||
| Q3 25 | $150.0M | $307.0M | ||
| Q2 25 | $54.0M | $170.8M | ||
| Q1 25 | $-618.0M | $-231.7M | ||
| Q4 24 | $137.0M | $488.7M | ||
| Q3 24 | $309.0M | $50.5M | ||
| Q2 24 | $167.0M | $170.4M |
自由现金流率IPLEA
| Q1 26 | 1.6% | -0.5% | ||
| Q4 25 | 5.4% | 4.7% | ||
| Q3 25 | 2.4% | 5.4% | ||
| Q2 25 | 0.8% | 2.8% | ||
| Q1 25 | -10.5% | -4.2% | ||
| Q4 24 | 3.0% | 8.6% | ||
| Q3 24 | 6.6% | 0.9% | ||
| Q2 24 | 3.5% | 2.8% |
资本支出强度IPLEA
| Q1 26 | 8.7% | 2.1% | ||
| Q4 25 | 13.7% | 3.3% | ||
| Q3 25 | 7.3% | 2.4% | ||
| Q2 25 | 6.2% | 2.1% | ||
| Q1 25 | 5.6% | 1.9% | ||
| Q4 24 | 5.7% | 3.4% | ||
| Q3 24 | 4.5% | 2.4% | ||
| Q2 24 | 4.2% | 2.0% |
现金转化率IPLEA
| Q1 26 | — | 0.57× | ||
| Q4 25 | — | 5.75× | ||
| Q3 25 | — | 4.11× | ||
| Q2 25 | 6.35× | 1.79× | ||
| Q1 25 | — | -1.58× | ||
| Q4 24 | — | 7.73× | ||
| Q3 24 | 3.47× | 1.35× | ||
| Q2 24 | 0.73× | 1.68× |
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% |
LEA
| Seating | $4.4B | 76% |
| E-Systems | $1.4B | 24% |
