vs
国际纸业（IP）与摩森康胜饮品公司（TAP）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摩森康胜饮品公司的1.5倍（$4.7B vs $3.1B），摩森康胜饮品公司净利率更高（7.6% vs -50.3%，领先57.9%），国际纸业同比增速更快（3.6% vs -3.6%），摩森康胜饮品公司自由现金流更多（$357.8M vs $255.0M），过去两年国际纸业的营收复合增速更高（1.3% vs 1.2%）
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。
摩森康胜饮品公司是一家美加合资的跨国饮料酿造企业，旗下拥有多款知名酒精及非酒精饮品产品线，业务覆盖全球多个国家和地区，目前在伊利诺伊州芝加哥与魁北克省蒙特利尔设有双总部。
IP vs TAP — 直观对比
营收规模更大
IP
是对方的1.5倍
$3.1B
营收增速更快
IP
高出7.2%
-3.6%
净利率更高
TAP
高出57.9%
-50.3%
自由现金流更多
TAP
多$102.8M
$255.0M
两年增速更快
IP
近两年复合增速
1.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $3.1B |
| 净利润 | $-2.4B | $238.3M |
| 毛利率 | 32.2% | 31.0% |
| 营业利润率 | -56.4% | 10.4% |
| 净利率 | -50.3% | 7.6% |
| 营收同比 | 3.6% | -3.6% |
| 净利润同比 | -1521.8% | -17.2% |
| 每股收益（稀释后） | $-4.76 | $1.32 |
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IPTAP
| Q4 25 | $4.7B | $3.1B | ||
| Q3 25 | $6.2B | $3.5B | ||
| Q2 25 | $6.8B | $3.7B | ||
| Q1 25 | $5.9B | $2.7B | ||
| Q4 24 | $4.6B | $3.2B | ||
| Q3 24 | $4.7B | $3.6B | ||
| Q2 24 | $4.7B | $3.8B | ||
| Q1 24 | $4.6B | $3.0B |
净利润IPTAP
| Q4 25 | $-2.4B | $238.3M | ||
| Q3 25 | $-1.1B | $-2.9B | ||
| Q2 25 | $75.0M | $428.7M | ||
| Q1 25 | $-105.0M | $121.0M | ||
| Q4 24 | $-147.0M | $287.8M | ||
| Q3 24 | $150.0M | $199.8M | ||
| Q2 24 | $498.0M | $427.0M | ||
| Q1 24 | $56.0M | $207.8M |
毛利率IPTAP
| Q4 25 | 32.2% | 31.0% | ||
| Q3 25 | 31.1% | 33.7% | ||
| Q2 25 | 27.9% | 34.3% | ||
| Q1 25 | 27.8% | 31.6% | ||
| Q4 24 | 29.0% | 32.0% | ||
| Q3 24 | 28.7% | 33.4% | ||
| Q2 24 | 29.0% | 34.6% | ||
| Q1 24 | 25.9% | 31.6% |
营业利润率IPTAP
| Q4 25 | -56.4% | 10.4% | ||
| Q3 25 | -10.8% | -98.5% | ||
| Q2 25 | 1.7% | 15.6% | ||
| Q1 25 | -2.3% | 6.9% | ||
| Q4 24 | -4.9% | 12.0% | ||
| Q3 24 | 5.1% | 12.5% | ||
| Q2 24 | 6.8% | 15.6% | ||
| Q1 24 | 3.7% | 10.3% |
净利率IPTAP
| Q4 25 | -50.3% | 7.6% | ||
| Q3 25 | -17.7% | -84.0% | ||
| Q2 25 | 1.1% | 11.5% | ||
| Q1 25 | -1.8% | 4.5% | ||
| Q4 24 | -3.2% | 8.9% | ||
| Q3 24 | 3.2% | 5.5% | ||
| Q2 24 | 10.5% | 11.1% | ||
| Q1 24 | 1.2% | 6.8% |
每股收益（稀释后）IPTAP
| Q4 25 | $-4.76 | $1.32 | ||
| Q3 25 | $-2.09 | $-14.79 | ||
| Q2 25 | $0.14 | $2.13 | ||
| Q1 25 | $-0.24 | $0.59 | ||
| Q4 24 | $-0.42 | $1.39 | ||
| Q3 24 | $0.42 | $0.96 | ||
| Q2 24 | $1.41 | $2.03 | ||
| Q1 24 | $0.16 | $0.97 |
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 | $896.5M |
| 总债务越低越好 | $8.8B | $6.3B |
| 股东权益账面价值 | $14.8B | $10.2B |
| 总资产 | $38.0B | $22.7B |
| 负债/权益比越低杠杆越低 | 0.60× | 0.61× |
8季度趋势，按日历期对齐
现金及短期投资IPTAP
| Q4 25 | $1.1B | $896.5M | ||
| Q3 25 | $995.0M | $950.2M | ||
| Q2 25 | $1.1B | $613.8M | ||
| Q1 25 | $1.2B | $412.7M | ||
| Q4 24 | $1.2B | $969.3M | ||
| Q3 24 | $1.2B | $1.0B | ||
| Q2 24 | $1.0B | $1.6B | ||
| Q1 24 | $1.1B | $458.4M |
总债务IPTAP
| Q4 25 | $8.8B | $6.3B | ||
| Q3 25 | $9.0B | $6.3B | ||
| Q2 25 | $9.7B | $6.3B | ||
| Q1 25 | $9.2B | $6.2B | ||
| Q4 24 | $5.4B | $6.1B | ||
| Q3 24 | $5.3B | $6.2B | ||
| Q2 24 | $5.3B | $7.0B | ||
| Q1 24 | $5.5B | $6.2B |
股东权益IPTAP
| Q4 25 | $14.8B | $10.2B | ||
| Q3 25 | $17.3B | $10.3B | ||
| Q2 25 | $18.6B | $13.4B | ||
| Q1 25 | $18.1B | $13.1B | ||
| Q4 24 | $8.2B | $13.1B | ||
| Q3 24 | $8.6B | $13.3B | ||
| Q2 24 | $8.6B | $13.2B | ||
| Q1 24 | $8.3B | $13.1B |
总资产IPTAP
| Q4 25 | $38.0B | $22.7B | ||
| Q3 25 | $40.6B | $22.9B | ||
| Q2 25 | $42.4B | $26.8B | ||
| Q1 25 | $41.2B | $25.9B | ||
| Q4 24 | $22.8B | $26.1B | ||
| Q3 24 | $23.2B | $26.6B | ||
| Q2 24 | $23.1B | $27.4B | ||
| Q1 24 | $23.0B | $26.1B |
负债/权益比IPTAP
| Q4 25 | 0.60× | 0.61× | ||
| Q3 25 | 0.52× | 0.61× | ||
| Q2 25 | 0.52× | 0.47× | ||
| Q1 25 | 0.51× | 0.47× | ||
| Q4 24 | 0.66× | 0.47× | ||
| Q3 24 | 0.62× | 0.47× | ||
| Q2 24 | 0.62× | 0.53× | ||
| Q1 24 | 0.66× | 0.47× |
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 | $540.7M |
| 自由现金流经营现金流 - 资本支出 | $255.0M | $357.8M |
| 自由现金流率自由现金流/营收 | 5.4% | 11.4% |
| 资本支出强度资本支出/营收 | 13.7% | 5.9% |
| 现金转化率经营现金流/净利润 | — | 2.27× |
| 过去12个月自由现金流最近4个季度 | $-159.0M | $1.1B |
8季度趋势，按日历期对齐
经营现金流IPTAP
| Q4 25 | $905.0M | $540.7M | ||
| Q3 25 | $605.0M | $616.1M | ||
| Q2 25 | $476.0M | $718.3M | ||
| Q1 25 | $-288.0M | $-90.7M | ||
| Q4 24 | $397.0M | $494.5M | ||
| Q3 24 | $521.0M | $521.2M | ||
| Q2 24 | $365.0M | $869.2M | ||
| Q1 24 | $395.0M | $25.4M |
自由现金流IPTAP
| Q4 25 | $255.0M | $357.8M | ||
| Q3 25 | $150.0M | $483.0M | ||
| Q2 25 | $54.0M | $555.0M | ||
| Q1 25 | $-618.0M | $-328.0M | ||
| Q4 24 | $137.0M | $383.4M | ||
| Q3 24 | $309.0M | $350.4M | ||
| Q2 24 | $167.0M | $691.7M | ||
| Q1 24 | $144.0M | $-189.3M |
自由现金流率IPTAP
| Q4 25 | 5.4% | 11.4% | ||
| Q3 25 | 2.4% | 13.9% | ||
| Q2 25 | 0.8% | 14.8% | ||
| Q1 25 | -10.5% | -12.2% | ||
| Q4 24 | 3.0% | 11.8% | ||
| Q3 24 | 6.6% | 9.7% | ||
| Q2 24 | 3.5% | 18.0% | ||
| Q1 24 | 3.1% | -6.2% |
资本支出强度IPTAP
| Q4 25 | 13.7% | 5.9% | ||
| Q3 25 | 7.3% | 3.8% | ||
| Q2 25 | 6.2% | 4.4% | ||
| Q1 25 | 5.6% | 8.8% | ||
| Q4 24 | 5.7% | 3.4% | ||
| Q3 24 | 4.5% | 4.7% | ||
| Q2 24 | 4.2% | 4.6% | ||
| Q1 24 | 5.4% | 7.0% |
现金转化率IPTAP
| Q4 25 | — | 2.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | 6.35× | 1.68× | ||
| Q1 25 | — | -0.75× | ||
| Q4 24 | — | 1.72× | ||
| Q3 24 | 3.47× | 2.61× | ||
| Q2 24 | 0.73× | 2.04× | ||
| Q1 24 | 7.05× | 0.12× |
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
| Other | $2.4B | 52% |
| DS Smith Packaging | $2.3B | 48% |
TAP
暂无分部数据
