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国际纸业（IP）与蔚来（NIO）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蔚来的1.3倍（$6.0B vs $4.7B），国际纸业净利率更高（1.0% vs 0.8%，领先0.2%），国际纸业自由现金流更多（$94.0M vs $-439.4M）
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。
蔚来是中国本土新能源汽车制造商，总部位于上海，2014年成立，2016年正式启用现有品牌名称。公司专注于智能电动汽车的研发、设计与销售，产品覆盖轿车、SUV等多个品类，近年已将业务拓展至智能手机研发领域。
IP vs NIO — 直观对比
营收规模更大
IP
是对方的1.3倍
$4.7B
净利率更高
IP
高出0.2%
0.8%
自由现金流更多
IP
多$533.4M
$-439.4M
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $4.7B |
| 净利润 | $60.0M | $38.7M |
| 毛利率 | — | 17.5% |
| 营业利润率 | — | 1.5% |
| 净利率 | 1.0% | 0.8% |
| 营收同比 | -0.6% | — |
| 净利润同比 | 157.1% | — |
| 每股收益（稀释后） | $0.14 | $0.05 |
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IPNIO
| Q1 26 | $6.0B | $4.7B | ||
| Q4 25 | $4.7B | — | ||
| Q3 25 | $6.2B | $3.0B | ||
| Q2 25 | $6.8B | $2.6B | ||
| Q1 25 | $5.9B | $2.7B | ||
| Q4 24 | $4.6B | — | ||
| Q3 24 | $4.7B | — | ||
| Q2 24 | $4.7B | — |
净利润IPNIO
| Q1 26 | $60.0M | $38.7M | ||
| Q4 25 | $-2.4B | — | ||
| Q3 25 | $-1.1B | $-505.2M | ||
| Q2 25 | $75.0M | $-709.5M | ||
| Q1 25 | $-105.0M | $-984.2M | ||
| Q4 24 | $-147.0M | — | ||
| Q3 24 | $150.0M | — | ||
| Q2 24 | $498.0M | — |
毛利率IPNIO
| Q1 26 | — | 17.5% | ||
| Q4 25 | 32.2% | — | ||
| Q3 25 | 31.1% | 13.9% | ||
| Q2 25 | 27.9% | 10.0% | ||
| Q1 25 | 27.8% | 11.7% | ||
| Q4 24 | 29.0% | — | ||
| Q3 24 | 28.7% | — | ||
| Q2 24 | 29.0% | — |
营业利润率IPNIO
| Q1 26 | — | 1.5% | ||
| Q4 25 | -56.4% | — | ||
| Q3 25 | -10.8% | -16.2% | ||
| Q2 25 | 1.7% | -25.8% | ||
| Q1 25 | -2.3% | -30.6% | ||
| Q4 24 | -4.9% | — | ||
| Q3 24 | 5.1% | — | ||
| Q2 24 | 6.8% | — |
净利率IPNIO
| Q1 26 | 1.0% | 0.8% | ||
| Q4 25 | -50.3% | — | ||
| Q3 25 | -17.7% | -16.8% | ||
| Q2 25 | 1.1% | -27.0% | ||
| Q1 25 | -1.8% | -36.2% | ||
| Q4 24 | -3.2% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 10.5% | — |
每股收益（稀释后）IPNIO
| Q1 26 | $0.14 | $0.05 | ||
| Q4 25 | $-4.76 | — | ||
| Q3 25 | $-2.09 | $-1.51 | ||
| Q2 25 | $0.14 | $-2.31 | ||
| Q1 25 | $-0.24 | $-3.47 | ||
| Q4 24 | $-0.42 | — | ||
| Q3 24 | $0.42 | — | ||
| Q2 24 | $1.41 | — |
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 | — | $4.4B |
| 总债务越低越好 | $8.2B | — |
| 股东权益账面价值 | $14.8B | $594.8M |
| 总资产 | $36.4B | $17.8B |
| 负债/权益比越低杠杆越低 | 0.55× | — |
8季度趋势，按日历期对齐
现金及短期投资IPNIO
| Q1 26 | — | $4.4B | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $995.0M | — | ||
| Q2 25 | $1.1B | $2.5B | ||
| Q1 25 | $1.2B | $4.6B | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.0B | — |
总债务IPNIO
| Q1 26 | $8.2B | — | ||
| Q4 25 | $8.8B | — | ||
| Q3 25 | $9.0B | — | ||
| Q2 25 | $9.7B | — | ||
| Q1 25 | $9.2B | — | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $5.3B | — | ||
| Q2 24 | $5.3B | — |
股东权益IPNIO
| Q1 26 | $14.8B | $594.8M | ||
| Q4 25 | $14.8B | — | ||
| Q3 25 | $17.3B | — | ||
| Q2 25 | $18.6B | $-168.3M | ||
| Q1 25 | $18.1B | $817.5M | ||
| Q4 24 | $8.2B | — | ||
| Q3 24 | $8.6B | — | ||
| Q2 24 | $8.6B | — |
总资产IPNIO
| Q1 26 | $36.4B | $17.8B | ||
| Q4 25 | $38.0B | — | ||
| Q3 25 | $40.6B | — | ||
| Q2 25 | $42.4B | $14.0B | ||
| Q1 25 | $41.2B | $14.7B | ||
| Q4 24 | $22.8B | — | ||
| Q3 24 | $23.2B | — | ||
| Q2 24 | $23.1B | — |
负债/权益比IPNIO
| Q1 26 | 0.55× | — | ||
| Q4 25 | 0.60× | — | ||
| Q3 25 | 0.52× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.51× | — | ||
| Q4 24 | 0.66× | — | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 0.62× | — |
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 | — | $427.9M |
| 自由现金流经营现金流 - 资本支出 | $94.0M | $-439.4M |
| 自由现金流率自由现金流/营收 | 1.6% | -9.3% |
| 资本支出强度资本支出/营收 | 8.7% | 18.4% |
| 现金转化率经营现金流/净利润 | — | 11.07× |
| 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IPNIO
| Q1 26 | — | $427.9M | ||
| Q4 25 | $905.0M | — | ||
| Q3 25 | $605.0M | — | ||
| Q2 25 | $476.0M | — | ||
| Q1 25 | $-288.0M | $-1.1B | ||
| Q4 24 | $397.0M | — | ||
| Q3 24 | $521.0M | — | ||
| Q2 24 | $365.0M | — |
自由现金流IPNIO
| Q1 26 | $94.0M | $-439.4M | ||
| Q4 25 | $255.0M | — | ||
| Q3 25 | $150.0M | — | ||
| Q2 25 | $54.0M | — | ||
| Q1 25 | $-618.0M | $-2.3B | ||
| Q4 24 | $137.0M | — | ||
| Q3 24 | $309.0M | — | ||
| Q2 24 | $167.0M | — |
自由现金流率IPNIO
| Q1 26 | 1.6% | -9.3% | ||
| Q4 25 | 5.4% | — | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | -10.5% | -85.6% | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 6.6% | — | ||
| Q2 24 | 3.5% | — |
资本支出强度IPNIO
| Q1 26 | 8.7% | 18.4% | ||
| Q4 25 | 13.7% | — | ||
| Q3 25 | 7.3% | — | ||
| Q2 25 | 6.2% | — | ||
| Q1 25 | 5.6% | 46.1% | ||
| Q4 24 | 5.7% | — | ||
| Q3 24 | 4.5% | — | ||
| Q2 24 | 4.2% | — |
现金转化率IPNIO
| Q1 26 | — | 11.07× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 6.35× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.47× | — | ||
| Q2 24 | 0.73× | — |
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% |
NIO
暂无分部数据
