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国际纸业（IP）与Mativ Holdings, Inc.（MATV）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Mativ Holdings, Inc.的10.2倍（$4.7B vs $463.1M）。Mativ Holdings, Inc.净利率更高（21.8% vs -50.3%，领先72.0%）。国际纸业同比增速更快（3.6% vs 1.0%）。国际纸业自由现金流更多（$255.0M vs $8.0M）。过去两年国际纸业的营收复合增速更高（1.3% vs -3.8%）
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。
Mativ Holdings是一家全球特种材料制造商，主要生产高性能先进聚合物、无纺布、过滤解决方案及功能性涂层材料，服务医疗、工业、消费品、航空航天、能源等领域，业务遍及北美、欧洲及亚太地区。
IP vs MATV — 直观对比
营收规模更大
IP
是对方的10.2倍
$463.1M
营收增速更快
IP
高出2.6%
1.0%
净利率更高
MATV
高出72.0%
-50.3%
自由现金流更多
IP
多$247.0M
$8.0M
两年增速更快
IP
近两年复合增速
-3.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $463.1M |
| 净利润 | $-2.4B | $100.8M |
| 毛利率 | 32.2% | 18.8% |
| 营业利润率 | -56.4% | 2.2% |
| 净利率 | -50.3% | 21.8% |
| 营收同比 | 3.6% | 1.0% |
| 净利润同比 | -1521.8% | 6620.0% |
| 每股收益（稀释后） | $-4.76 | $1.87 |
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IPMATV
| Q4 25 | $4.7B | $463.1M | ||
| Q3 25 | $6.2B | $513.7M | ||
| Q2 25 | $6.8B | $525.4M | ||
| Q1 25 | $5.9B | $484.8M | ||
| Q4 24 | $4.6B | $458.6M | ||
| Q3 24 | $4.7B | $498.5M | ||
| Q2 24 | $4.7B | $523.8M | ||
| Q1 24 | $4.6B | $500.2M |
净利润IPMATV
| Q4 25 | $-2.4B | $100.8M | ||
| Q3 25 | $-1.1B | $-3.2M | ||
| Q2 25 | $75.0M | $-9.5M | ||
| Q1 25 | $-105.0M | $-425.5M | ||
| Q4 24 | $-147.0M | $1.5M | ||
| Q3 24 | $150.0M | $-20.8M | ||
| Q2 24 | $498.0M | $-1.4M | ||
| Q1 24 | $56.0M | $-28.0M |
毛利率IPMATV
| Q4 25 | 32.2% | 18.8% | ||
| Q3 25 | 31.1% | 19.3% | ||
| Q2 25 | 27.9% | 19.7% | ||
| Q1 25 | 27.8% | 15.0% | ||
| Q4 24 | 29.0% | 16.9% | ||
| Q3 24 | 28.7% | 18.8% | ||
| Q2 24 | 29.0% | 20.8% | ||
| Q1 24 | 25.9% | 16.8% |
营业利润率IPMATV
| Q4 25 | -56.4% | 2.2% | ||
| Q3 25 | -10.8% | 3.1% | ||
| Q2 25 | 1.7% | 3.8% | ||
| Q1 25 | -2.3% | -88.8% | ||
| Q4 24 | -4.9% | 0.6% | ||
| Q3 24 | 5.1% | 1.4% | ||
| Q2 24 | 6.8% | 2.0% | ||
| Q1 24 | 3.7% | -2.8% |
净利率IPMATV
| Q4 25 | -50.3% | 21.8% | ||
| Q3 25 | -17.7% | -0.6% | ||
| Q2 25 | 1.1% | -1.8% | ||
| Q1 25 | -1.8% | -87.8% | ||
| Q4 24 | -3.2% | 0.3% | ||
| Q3 24 | 3.2% | -4.2% | ||
| Q2 24 | 10.5% | -0.3% | ||
| Q1 24 | 1.2% | -5.6% |
每股收益（稀释后）IPMATV
| Q4 25 | $-4.76 | $1.87 | ||
| Q3 25 | $-2.09 | $-0.06 | ||
| Q2 25 | $0.14 | $-0.18 | ||
| Q1 25 | $-0.24 | $-7.82 | ||
| Q4 24 | $-0.42 | $0.03 | ||
| Q3 24 | $0.42 | $-0.38 | ||
| Q2 24 | $1.41 | $-0.03 | ||
| Q1 24 | $0.16 | $-0.52 |
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 | $1.1B | $84.2M |
| 总债务越低越好 | $8.8B | $1.0B |
| 股东权益账面价值 | $14.8B | $498.7M |
| 总资产 | $38.0B | $2.1B |
| 负债/权益比越低杠杆越低 | 0.60× | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资IPMATV
| Q4 25 | $1.1B | $84.2M | ||
| Q3 25 | $995.0M | $97.1M | ||
| Q2 25 | $1.1B | $95.6M | ||
| Q1 25 | $1.2B | $84.0M | ||
| Q4 24 | $1.2B | $94.3M | ||
| Q3 24 | $1.2B | $162.2M | ||
| Q2 24 | $1.0B | $133.4M | ||
| Q1 24 | $1.1B | $128.9M |
总债务IPMATV
| Q4 25 | $8.8B | $1.0B | ||
| Q3 25 | $9.0B | $1.0B | ||
| Q2 25 | $9.7B | $1.1B | ||
| Q1 25 | $9.2B | $1.1B | ||
| Q4 24 | $5.4B | $1.1B | ||
| Q3 24 | $5.3B | $1.2B | ||
| Q2 24 | $5.3B | $1.2B | ||
| Q1 24 | $5.5B | $1.2B |
股东权益IPMATV
| Q4 25 | $14.8B | $498.7M | ||
| Q3 25 | $17.3B | $397.4M | ||
| Q2 25 | $18.6B | $416.6M | ||
| Q1 25 | $18.1B | $428.2M | ||
| Q4 24 | $8.2B | $858.5M | ||
| Q3 24 | $8.6B | $882.3M | ||
| Q2 24 | $8.6B | $898.0M | ||
| Q1 24 | $8.3B | $906.9M |
总资产IPMATV
| Q4 25 | $38.0B | $2.1B | ||
| Q3 25 | $40.6B | $2.0B | ||
| Q2 25 | $42.4B | $2.1B | ||
| Q1 25 | $41.2B | $2.1B | ||
| Q4 24 | $22.8B | $2.4B | ||
| Q3 24 | $23.2B | $2.6B | ||
| Q2 24 | $23.1B | $2.6B | ||
| Q1 24 | $23.0B | $2.7B |
负债/权益比IPMATV
| Q4 25 | 0.60× | 2.07× | ||
| Q3 25 | 0.52× | 2.63× | ||
| Q2 25 | 0.52× | 2.66× | ||
| Q1 25 | 0.51× | 2.67× | ||
| Q4 24 | 0.66× | 1.30× | ||
| Q3 24 | 0.62× | 1.32× | ||
| Q2 24 | 0.62× | 1.29× | ||
| Q1 24 | 0.66× | 1.30× |
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 | $905.0M | $19.3M |
| 自由现金流经营现金流 - 资本支出 | $255.0M | $8.0M |
| 自由现金流率自由现金流/营收 | 5.4% | 1.7% |
| 资本支出强度资本支出/营收 | 13.7% | 2.4% |
| 现金转化率经营现金流/净利润 | — | 0.19× |
| 过去12个月自由现金流最近4个季度 | $-159.0M | $93.8M |
8季度趋势，按日历期对齐
经营现金流IPMATV
| Q4 25 | $905.0M | $19.3M | ||
| Q3 25 | $605.0M | $72.8M | ||
| Q2 25 | $476.0M | $57.6M | ||
| Q1 25 | $-288.0M | $-15.9M | ||
| Q4 24 | $397.0M | $24.1M | ||
| Q3 24 | $521.0M | $37.6M | ||
| Q2 24 | $365.0M | $46.1M | ||
| Q1 24 | $395.0M | $-13.0M |
自由现金流IPMATV
| Q4 25 | $255.0M | $8.0M | ||
| Q3 25 | $150.0M | $66.7M | ||
| Q2 25 | $54.0M | $48.9M | ||
| Q1 25 | $-618.0M | $-29.8M | ||
| Q4 24 | $137.0M | $2.0M | ||
| Q3 24 | $309.0M | $25.5M | ||
| Q2 24 | $167.0M | $37.4M | ||
| Q1 24 | $144.0M | $-25.1M |
自由现金流率IPMATV
| Q4 25 | 5.4% | 1.7% | ||
| Q3 25 | 2.4% | 13.0% | ||
| Q2 25 | 0.8% | 9.3% | ||
| Q1 25 | -10.5% | -6.1% | ||
| Q4 24 | 3.0% | 0.4% | ||
| Q3 24 | 6.6% | 5.1% | ||
| Q2 24 | 3.5% | 7.1% | ||
| Q1 24 | 3.1% | -5.0% |
资本支出强度IPMATV
| Q4 25 | 13.7% | 2.4% | ||
| Q3 25 | 7.3% | 1.2% | ||
| Q2 25 | 6.2% | 1.7% | ||
| Q1 25 | 5.6% | 2.9% | ||
| Q4 24 | 5.7% | 4.8% | ||
| Q3 24 | 4.5% | 2.4% | ||
| Q2 24 | 4.2% | 1.7% | ||
| Q1 24 | 5.4% | 2.4% |
现金转化率IPMATV
| Q4 25 | — | 0.19× | ||
| Q3 25 | — | — | ||
| Q2 25 | 6.35× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 16.07× | ||
| Q3 24 | 3.47× | — | ||
| Q2 24 | 0.73× | — | ||
| Q1 24 | 7.05× | — |
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
暂无分部数据
MATV
| Other | $208.7M | 45% |
| SAS Segment | $157.4M | 34% |
| FAM Segment | $97.0M | 21% |
