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国际纸业（IP）与信安金融集团（PFG）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信安金融集团的1.3倍（$6.0B vs $4.6B），信安金融集团净利率更高（11.3% vs 1.0%，领先10.3%），国际纸业同比增速更快（-0.6% vs -3.7%），过去两年国际纸业的营收复合增速更高（12.3% vs 6.3%）
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。
信安金融集团（股票代码：PFG）是总部位于美国艾奥瓦州得梅因的全球性金融服务企业，核心业务涵盖投资管理、保险服务两大板块，在全球多个区域开展业务，为机构客户和个人用户提供专业定制化的金融解决方案，在行业内拥有较高知名度。
IP vs PFG — 直观对比
营收规模更大
IP
是对方的1.3倍
$4.6B
营收增速更快
IP
高出3.1%
-3.7%
净利率更高
PFG
高出10.3%
1.0%
两年增速更快
IP
近两年复合增速
6.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $4.6B |
| 净利润 | $60.0M | $517.0M |
| 毛利率 | — | — |
| 营业利润率 | — | — |
| 净利率 | 1.0% | 11.3% |
| 营收同比 | -0.6% | -3.7% |
| 净利润同比 | 157.1% | -42.9% |
| 每股收益（稀释后） | $0.14 | $2.30 |
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IPPFG
| Q1 26 | $6.0B | — | ||
| Q4 25 | $4.7B | $4.6B | ||
| Q3 25 | $6.2B | $3.7B | ||
| Q2 25 | $6.8B | $3.7B | ||
| Q1 25 | $5.9B | $3.7B | ||
| Q4 24 | $4.6B | $4.8B | ||
| Q3 24 | $4.7B | $3.0B | ||
| Q2 24 | $4.7B | $4.3B |
净利润IPPFG
| Q1 26 | $60.0M | — | ||
| Q4 25 | $-2.4B | $517.0M | ||
| Q3 25 | $-1.1B | $213.8M | ||
| Q2 25 | $75.0M | $406.2M | ||
| Q1 25 | $-105.0M | $48.1M | ||
| Q4 24 | $-147.0M | $905.4M | ||
| Q3 24 | $150.0M | $-220.0M | ||
| Q2 24 | $498.0M | $353.1M |
毛利率IPPFG
| Q1 26 | — | — | ||
| Q4 25 | 32.2% | — | ||
| Q3 25 | 31.1% | — | ||
| Q2 25 | 27.9% | — | ||
| Q1 25 | 27.8% | — | ||
| Q4 24 | 29.0% | — | ||
| Q3 24 | 28.7% | — | ||
| Q2 24 | 29.0% | — |
营业利润率IPPFG
| Q1 26 | — | — | ||
| Q4 25 | -56.4% | — | ||
| Q3 25 | -10.8% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | -2.3% | — | ||
| Q4 24 | -4.9% | — | ||
| Q3 24 | 5.1% | — | ||
| Q2 24 | 6.8% | — |
净利率IPPFG
| Q1 26 | 1.0% | — | ||
| Q4 25 | -50.3% | 11.3% | ||
| Q3 25 | -17.7% | 5.8% | ||
| Q2 25 | 1.1% | 11.1% | ||
| Q1 25 | -1.8% | 1.3% | ||
| Q4 24 | -3.2% | 19.1% | ||
| Q3 24 | 3.2% | -7.3% | ||
| Q2 24 | 10.5% | 8.2% |
每股收益（稀释后）IPPFG
| Q1 26 | $0.14 | — | ||
| Q4 25 | $-4.76 | $2.30 | ||
| Q3 25 | $-2.09 | $0.95 | ||
| Q2 25 | $0.14 | $1.79 | ||
| Q1 25 | $-0.24 | $0.21 | ||
| Q4 24 | $-0.42 | $3.92 | ||
| Q3 24 | $0.42 | $-0.95 | ||
| Q2 24 | $1.41 | $1.49 |
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 | $3.9B |
| 股东权益账面价值 | $14.8B | $11.9B |
| 总资产 | $36.4B | $341.4B |
| 负债/权益比越低杠杆越低 | 0.55× | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资IPPFG
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $4.4B | ||
| Q3 25 | $995.0M | $5.1B | ||
| Q2 25 | $1.1B | $3.7B | ||
| Q1 25 | $1.2B | $3.9B | ||
| Q4 24 | $1.2B | $4.2B | ||
| Q3 24 | $1.2B | $6.2B | ||
| Q2 24 | $1.0B | $4.8B |
总债务IPPFG
| Q1 26 | $8.2B | — | ||
| Q4 25 | $8.8B | $3.9B | ||
| Q3 25 | $9.0B | $3.9B | ||
| Q2 25 | $9.7B | $3.9B | ||
| Q1 25 | $9.2B | $4.3B | ||
| Q4 24 | $5.4B | $4.0B | ||
| Q3 24 | $5.3B | $3.9B | ||
| Q2 24 | $5.3B | $3.9B |
股东权益IPPFG
| Q1 26 | $14.8B | — | ||
| Q4 25 | $14.8B | $11.9B | ||
| Q3 25 | $17.3B | $11.7B | ||
| Q2 25 | $18.6B | $11.4B | ||
| Q1 25 | $18.1B | $11.2B | ||
| Q4 24 | $8.2B | $11.1B | ||
| Q3 24 | $8.6B | $11.2B | ||
| Q2 24 | $8.6B | $11.0B |
总资产IPPFG
| Q1 26 | $36.4B | — | ||
| Q4 25 | $38.0B | $341.4B | ||
| Q3 25 | $40.6B | $334.5B | ||
| Q2 25 | $42.4B | $323.1B | ||
| Q1 25 | $41.2B | $313.0B | ||
| Q4 24 | $22.8B | $313.7B | ||
| Q3 24 | $23.2B | $322.9B | ||
| Q2 24 | $23.1B | $308.8B |
负债/权益比IPPFG
| Q1 26 | 0.55× | — | ||
| Q4 25 | 0.60× | 0.33× | ||
| Q3 25 | 0.52× | 0.34× | ||
| Q2 25 | 0.52× | 0.34× | ||
| Q1 25 | 0.51× | 0.39× | ||
| Q4 24 | 0.66× | 0.36× | ||
| Q3 24 | 0.62× | 0.35× | ||
| Q2 24 | 0.62× | 0.36× |
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 | — | $1.7B |
| 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 | — | 3.37× |
| 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IPPFG
| Q1 26 | — | — | ||
| Q4 25 | $905.0M | $1.7B | ||
| Q3 25 | $605.0M | $1.0B | ||
| Q2 25 | $476.0M | $811.9M | ||
| Q1 25 | $-288.0M | $977.3M | ||
| Q4 24 | $397.0M | $1.5B | ||
| Q3 24 | $521.0M | $1.1B | ||
| Q2 24 | $365.0M | $1.4B |
自由现金流IPPFG
| Q1 26 | $94.0M | — | ||
| Q4 25 | $255.0M | — | ||
| Q3 25 | $150.0M | — | ||
| Q2 25 | $54.0M | — | ||
| Q1 25 | $-618.0M | — | ||
| Q4 24 | $137.0M | — | ||
| Q3 24 | $309.0M | — | ||
| Q2 24 | $167.0M | — |
自由现金流率IPPFG
| Q1 26 | 1.6% | — | ||
| Q4 25 | 5.4% | — | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | -10.5% | — | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 6.6% | — | ||
| Q2 24 | 3.5% | — |
资本支出强度IPPFG
| Q1 26 | 8.7% | — | ||
| Q4 25 | 13.7% | — | ||
| Q3 25 | 7.3% | — | ||
| Q2 25 | 6.2% | — | ||
| Q1 25 | 5.6% | — | ||
| Q4 24 | 5.7% | — | ||
| Q3 24 | 4.5% | — | ||
| Q2 24 | 4.2% | — |
现金转化率IPPFG
| Q1 26 | — | — | ||
| Q4 25 | — | 3.37× | ||
| Q3 25 | — | 4.70× | ||
| Q2 25 | 6.35× | 2.00× | ||
| Q1 25 | — | 20.32× | ||
| Q4 24 | — | 1.61× | ||
| Q3 24 | 3.47× | — | ||
| Q2 24 | 0.73× | 4.05× |
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
| Packaging Solutions North America | $3.6B | 61% |
| Packaging Solutions EMEA | $2.3B | 39% |
| Corporate and Inter-segment Sales | $22.0M | 0% |
PFG
| Segment Retirement And Income Solutions | $1.6B | 36% |
| Segment Benefits And Protection | $1.1B | 23% |
| Other | $582.8M | 13% |
| Segment Principal Asset Management | $465.6M | 10% |
| Subsegment Investment Management | $449.4M | 10% |
| Administrative Service | $152.2M | 3% |
| Subsegment International Pension | $91.2M | 2% |
| Segment Corporate | $73.0M | 2% |
| Subsegment Life Insurance | $26.1M | 1% |
| Financial Service Other | $25.1M | 1% |
| Residential Mortgage | $7.4M | 0% |
| Subsegment Specialty Benefits | $3.7M | 0% |
| Deposit Account | $3.4M | 0% |
| Commission Income | $1.8M | 0% |
