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国际纸业（IP）与Williams Companies（WMB）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Williams Companies的2.0倍（$6.0B vs $3.0B），Williams Companies净利率更高（28.5% vs 1.0%，领先27.5%），国际纸业同比增速更快（-0.6% vs -0.6%），过去两年国际纸业的营收复合增速更高（12.3% vs 3.2%）
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。
总部位于美国俄克拉荷马州塔尔萨的能源企业，位列《财富》美国500强，普通股为标普500指数成分股，核心业务为天然气加工与运输，同时持有石油、发电相关资产。
IP vs WMB — 直观对比
营收规模更大
IP
是对方的2.0倍
$3.0B
营收增速更快
IP
高出0.0%
-0.6%
净利率更高
WMB
高出27.5%
1.0%
两年增速更快
IP
近两年复合增速
3.2%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $3.0B |
| 净利润 | $60.0M | $864.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 43.6% |
| 净利率 | 1.0% | 28.5% |
| 营收同比 | -0.6% | -0.6% |
| 净利润同比 | 157.1% | 25.1% |
| 每股收益（稀释后） | $0.14 | — |
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IPWMB
| Q1 26 | $6.0B | $3.0B | ||
| Q4 25 | $4.7B | $3.8B | ||
| Q3 25 | $6.2B | $3.5B | ||
| Q2 25 | $6.8B | $3.4B | ||
| Q1 25 | $5.9B | $4.2B | ||
| Q4 24 | $4.6B | $3.4B | ||
| Q3 24 | $4.7B | $3.0B | ||
| Q2 24 | $4.7B | $2.8B |
净利润IPWMB
| Q1 26 | $60.0M | $864.0M | ||
| Q4 25 | $-2.4B | $734.0M | ||
| Q3 25 | $-1.1B | $647.0M | ||
| Q2 25 | $75.0M | $546.0M | ||
| Q1 25 | $-105.0M | $691.0M | ||
| Q4 24 | $-147.0M | $486.0M | ||
| Q3 24 | $150.0M | $706.0M | ||
| Q2 24 | $498.0M | $401.0M |
毛利率IPWMB
| 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IPWMB
| Q1 26 | — | 43.6% | ||
| Q4 25 | -56.4% | 27.3% | ||
| Q3 25 | -10.8% | 31.8% | ||
| Q2 25 | 1.7% | 28.0% | ||
| Q1 25 | -2.3% | 26.1% | ||
| Q4 24 | -4.9% | 23.2% | ||
| Q3 24 | 5.1% | 27.6% | ||
| Q2 24 | 6.8% | 24.4% |
净利率IPWMB
| Q1 26 | 1.0% | 28.5% | ||
| Q4 25 | -50.3% | 19.1% | ||
| Q3 25 | -17.7% | 18.5% | ||
| Q2 25 | 1.1% | 16.2% | ||
| Q1 25 | -1.8% | 16.5% | ||
| Q4 24 | -3.2% | 14.2% | ||
| Q3 24 | 3.2% | 23.3% | ||
| Q2 24 | 10.5% | 14.1% |
每股收益（稀释后）IPWMB
| Q1 26 | $0.14 | — | ||
| Q4 25 | $-4.76 | $0.60 | ||
| Q3 25 | $-2.09 | $0.53 | ||
| Q2 25 | $0.14 | $0.45 | ||
| Q1 25 | $-0.24 | $0.56 | ||
| Q4 24 | $-0.42 | $0.39 | ||
| Q3 24 | $0.42 | $0.58 | ||
| Q2 24 | $1.41 | $0.33 |
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 | — | $950.0K |
| 总债务越低越好 | $8.2B | $30.1M |
| 股东权益账面价值 | $14.8B | $13.0M |
| 总资产 | $36.4B | $59.6M |
| 负债/权益比越低杠杆越低 | 0.55× | 2.31× |
8季度趋势，按日历期对齐
现金及短期投资IPWMB
| Q1 26 | — | $950.0K | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $995.0M | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.0B | — |
总债务IPWMB
| Q1 26 | $8.2B | $30.1M | ||
| Q4 25 | $8.8B | $27.3B | ||
| Q3 25 | $9.0B | $25.6B | ||
| Q2 25 | $9.7B | $25.6B | ||
| Q1 25 | $9.2B | $24.1B | ||
| Q4 24 | $5.4B | $24.7B | ||
| Q3 24 | $5.3B | $24.8B | ||
| Q2 24 | $5.3B | $24.1B |
股东权益IPWMB
| Q1 26 | $14.8B | $13.0M | ||
| Q4 25 | $14.8B | $12.8B | ||
| Q3 25 | $17.3B | $12.5B | ||
| Q2 25 | $18.6B | $12.4B | ||
| Q1 25 | $18.1B | $12.5B | ||
| Q4 24 | $8.2B | $12.4B | ||
| Q3 24 | $8.6B | $12.4B | ||
| Q2 24 | $8.6B | $12.3B |
总资产IPWMB
| Q1 26 | $36.4B | $59.6M | ||
| Q4 25 | $38.0B | $58.6B | ||
| Q3 25 | $40.6B | $55.7B | ||
| Q2 25 | $42.4B | $56.1B | ||
| Q1 25 | $41.2B | $54.9B | ||
| Q4 24 | $22.8B | $54.5B | ||
| Q3 24 | $23.2B | $53.8B | ||
| Q2 24 | $23.1B | $52.4B |
负债/权益比IPWMB
| Q1 26 | 0.55× | 2.31× | ||
| Q4 25 | 0.60× | 2.13× | ||
| Q3 25 | 0.52× | 2.04× | ||
| Q2 25 | 0.52× | 2.06× | ||
| Q1 25 | 0.51× | 1.93× | ||
| Q4 24 | 0.66× | 1.99× | ||
| Q3 24 | 0.62× | 2.00× | ||
| Q2 24 | 0.62× | 1.96× |
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 | — | $6.3B |
| 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% | 44.9% |
| 现金转化率经营现金流/净利润 | — | 7.31× |
| 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IPWMB
| Q1 26 | — | $6.3B | ||
| Q4 25 | $905.0M | $1.6B | ||
| Q3 25 | $605.0M | $1.4B | ||
| Q2 25 | $476.0M | $1.4B | ||
| Q1 25 | $-288.0M | $1.4B | ||
| Q4 24 | $397.0M | $1.2B | ||
| Q3 24 | $521.0M | $1.2B | ||
| Q2 24 | $365.0M | $1.3B |
自由现金流IPWMB
| Q1 26 | $94.0M | — | ||
| Q4 25 | $255.0M | $-379.0M | ||
| Q3 25 | $150.0M | $485.0M | ||
| Q2 25 | $54.0M | $478.0M | ||
| Q1 25 | $-618.0M | $421.0M | ||
| Q4 24 | $137.0M | $450.0M | ||
| Q3 24 | $309.0M | $561.0M | ||
| Q2 24 | $167.0M | $700.0M |
自由现金流率IPWMB
| Q1 26 | 1.6% | — | ||
| Q4 25 | 5.4% | -9.9% | ||
| Q3 25 | 2.4% | 13.9% | ||
| Q2 25 | 0.8% | 14.2% | ||
| Q1 25 | -10.5% | 10.1% | ||
| Q4 24 | 3.0% | 13.2% | ||
| Q3 24 | 6.6% | 18.5% | ||
| Q2 24 | 3.5% | 24.6% |
资本支出强度IPWMB
| Q1 26 | 8.7% | 44.9% | ||
| Q4 25 | 13.7% | 50.9% | ||
| Q3 25 | 7.3% | 27.3% | ||
| Q2 25 | 6.2% | 28.8% | ||
| Q1 25 | 5.6% | 24.2% | ||
| Q4 24 | 5.7% | 22.5% | ||
| Q3 24 | 4.5% | 22.5% | ||
| Q2 24 | 4.2% | 20.3% |
现金转化率IPWMB
| Q1 26 | — | 7.31× | ||
| Q4 25 | — | 2.15× | ||
| Q3 25 | — | 2.22× | ||
| Q2 25 | 6.35× | 2.66× | ||
| Q1 25 | — | 2.07× | ||
| Q4 24 | — | 2.51× | ||
| Q3 24 | 3.47× | 1.76× | ||
| Q2 24 | 0.73× | 3.19× |
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% |
WMB
| Service revenues | $2.2B | 73% |
| Other | $778.0M | 26% |
| Service revenues - commodity consideration | $46.0M | 2% |
