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INTERPARFUMS INC（IPAR）与罗塞塔石碑（STEP）财务数据对比。点击上方公司名可切换其他公司
罗塞塔石碑的季度营收约是INTERPARFUMS INC的1.5倍（$586.5M vs $386.2M），INTERPARFUMS INC净利率更高（7.3% vs -21.0%，领先28.3%），罗塞塔石碑同比增速更快（73.0% vs 6.8%），INTERPARFUMS INC自由现金流更多（$145.0M vs $26.7M），过去两年罗塞塔石碑的营收复合增速更高（28.2% vs 9.2%）
Inter Parfums Inc是全球知名的高端香水企业，开发、生产并销售多款授权香水、身体护理及相关美妆产品，与多家顶级奢侈时尚生活方式品牌合作推出联名香氛系列，产品覆盖全球主要市场，通过百货、美妆专营店及官方电商渠道触达消费者。
罗塞塔石碑是美国教育科技软件企业，开发语言学习、读写能力提升及脑训练类软件，旗下语言学习产品知名度极高。2013年公司收购Livemocha、Lexia Learning等品牌拓展教育科技业务矩阵，2021年正式成为IXL Learning的子公司。
IPAR vs STEP — 直观对比
营收规模更大
STEP
是对方的1.5倍
$386.2M
营收增速更快
STEP
高出66.2%
6.8%
净利率更高
IPAR
高出28.3%
-21.0%
自由现金流更多
IPAR
多$118.3M
$26.7M
两年增速更快
STEP
近两年复合增速
9.2%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $386.2M | $586.5M |
| 净利润 | $28.1M | $-123.5M |
| 毛利率 | 61.5% | — |
| 营业利润率 | 7.1% | -33.2% |
| 净利率 | 7.3% | -21.0% |
| 营收同比 | 6.8% | 73.0% |
| 净利润同比 | 16.0% | 35.7% |
| 每股收益（稀释后） | $0.88 | $-1.55 |
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IPARSTEP
| Q4 25 | $386.2M | $586.5M | ||
| Q3 25 | $429.6M | $454.2M | ||
| Q2 25 | $333.9M | $364.3M | ||
| Q1 25 | $338.8M | $377.7M | ||
| Q4 24 | $361.5M | $339.0M | ||
| Q3 24 | $424.6M | $271.7M | ||
| Q2 24 | $342.2M | $186.4M | ||
| Q1 24 | $324.0M | $356.8M |
净利润IPARSTEP
| Q4 25 | $28.1M | $-123.5M | ||
| Q3 25 | $65.8M | $-366.1M | ||
| Q2 25 | $32.0M | $-38.4M | ||
| Q1 25 | $42.5M | $-18.5M | ||
| Q4 24 | $24.2M | $-192.0M | ||
| Q3 24 | $62.3M | $17.6M | ||
| Q2 24 | $36.8M | $13.3M | ||
| Q1 24 | $41.0M | $30.8M |
毛利率IPARSTEP
| Q4 25 | 61.5% | — | ||
| Q3 25 | 63.5% | — | ||
| Q2 25 | 66.2% | — | ||
| Q1 25 | 63.7% | — | ||
| Q4 24 | 64.5% | — | ||
| Q3 24 | 63.9% | — | ||
| Q2 24 | 64.5% | — | ||
| Q1 24 | 62.5% | — |
营业利润率IPARSTEP
| Q4 25 | 7.1% | -33.2% | ||
| Q3 25 | 25.3% | -148.8% | ||
| Q2 25 | 17.7% | -5.6% | ||
| Q1 25 | 22.2% | 2.6% | ||
| Q4 24 | 10.0% | -101.7% | ||
| Q3 24 | 25.0% | 21.3% | ||
| Q2 24 | 18.9% | 29.4% | ||
| Q1 24 | 21.0% | 26.5% |
净利率IPARSTEP
| Q4 25 | 7.3% | -21.0% | ||
| Q3 25 | 15.3% | -80.6% | ||
| Q2 25 | 9.6% | -10.5% | ||
| Q1 25 | 12.5% | -4.9% | ||
| Q4 24 | 6.7% | -56.6% | ||
| Q3 24 | 14.7% | 6.5% | ||
| Q2 24 | 10.8% | 7.2% | ||
| Q1 24 | 12.7% | 8.6% |
每股收益（稀释后）IPARSTEP
| Q4 25 | $0.88 | $-1.55 | ||
| Q3 25 | $2.05 | $-4.66 | ||
| Q2 25 | $0.99 | $-0.49 | ||
| Q1 25 | $1.32 | $-0.37 | ||
| Q4 24 | $0.78 | $-2.61 | ||
| Q3 24 | $1.93 | $0.26 | ||
| Q2 24 | $1.14 | $0.20 | ||
| Q1 24 | $1.27 | $0.47 |
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 | $137.1M | — |
| 总债务越低越好 | $176.0M | $270.2M |
| 股东权益账面价值 | $880.7M | $-378.8M |
| 总资产 | $1.6B | $5.2B |
| 负债/权益比越低杠杆越低 | 0.20× | — |
8季度趋势，按日历期对齐
现金及短期投资IPARSTEP
| Q4 25 | $137.1M | — | ||
| Q3 25 | $77.5M | — | ||
| Q2 25 | $53.9M | — | ||
| Q1 25 | $75.3M | — | ||
| Q4 24 | $109.3M | — | ||
| Q3 24 | $78.8M | — | ||
| Q2 24 | $37.7M | — | ||
| Q1 24 | $76.1M | — |
总债务IPARSTEP
| Q4 25 | $176.0M | $270.2M | ||
| Q3 25 | — | $269.9M | ||
| Q2 25 | — | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | $157.3M | $168.9M | ||
| Q3 24 | — | $172.3M | ||
| Q2 24 | — | $172.1M | ||
| Q1 24 | — | $148.8M |
股东权益IPARSTEP
| Q4 25 | $880.7M | $-378.8M | ||
| Q3 25 | $870.9M | $-233.5M | ||
| Q2 25 | $839.4M | $153.9M | ||
| Q1 25 | $788.6M | $179.4M | ||
| Q4 24 | $744.9M | $209.8M | ||
| Q3 24 | $778.5M | $397.5M | ||
| Q2 24 | $717.1M | $366.9M | ||
| Q1 24 | $708.1M | $324.5M |
总资产IPARSTEP
| Q4 25 | $1.6B | $5.2B | ||
| Q3 25 | $1.6B | $5.3B | ||
| Q2 25 | $1.6B | $4.8B | ||
| Q1 25 | $1.4B | $4.6B | ||
| Q4 24 | $1.4B | $4.3B | ||
| Q3 24 | $1.5B | $4.0B | ||
| Q2 24 | $1.4B | $3.8B | ||
| Q1 24 | $1.3B | $3.8B |
负债/权益比IPARSTEP
| Q4 25 | 0.20× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | 0.21× | 0.81× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.46× |
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 | $146.5M | $27.2M |
| 自由现金流经营现金流 - 资本支出 | $145.0M | $26.7M |
| 自由现金流率自由现金流/营收 | 37.5% | 4.6% |
| 资本支出强度资本支出/营收 | 0.4% | 0.1% |
| 现金转化率经营现金流/净利润 | 5.21× | — |
| 过去12个月自由现金流最近4个季度 | $190.5M | $18.6M |
8季度趋势，按日历期对齐
经营现金流IPARSTEP
| Q4 25 | $146.5M | $27.2M | ||
| Q3 25 | $63.9M | $16.2M | ||
| Q2 25 | $11.9M | $46.3M | ||
| Q1 25 | $-7.4M | $-66.5M | ||
| Q4 24 | $138.0M | $27.6M | ||
| Q3 24 | $76.1M | $53.7M | ||
| Q2 24 | $25.5M | $50.2M | ||
| Q1 24 | $-52.0M | $7.6M |
自由现金流IPARSTEP
| Q4 25 | $145.0M | $26.7M | ||
| Q3 25 | $57.6M | $15.9M | ||
| Q2 25 | $-3.3M | $45.2M | ||
| Q1 25 | $-8.8M | $-69.2M | ||
| Q4 24 | $136.1M | $27.0M | ||
| Q3 24 | $75.4M | $52.4M | ||
| Q2 24 | $24.4M | $49.6M | ||
| Q1 24 | $-53.0M | $6.7M |
自由现金流率IPARSTEP
| Q4 25 | 37.5% | 4.6% | ||
| Q3 25 | 13.4% | 3.5% | ||
| Q2 25 | -1.0% | 12.4% | ||
| Q1 25 | -2.6% | -18.3% | ||
| Q4 24 | 37.7% | 8.0% | ||
| Q3 24 | 17.8% | 19.3% | ||
| Q2 24 | 7.1% | 26.6% | ||
| Q1 24 | -16.4% | 1.9% |
资本支出强度IPARSTEP
| Q4 25 | 0.4% | 0.1% | ||
| Q3 25 | 1.5% | 0.1% | ||
| Q2 25 | 4.5% | 0.3% | ||
| Q1 25 | 0.4% | 0.7% | ||
| Q4 24 | 0.5% | 0.2% | ||
| Q3 24 | 0.2% | 0.5% | ||
| Q2 24 | 0.3% | 0.3% | ||
| Q1 24 | 0.3% | 0.3% |
现金转化率IPARSTEP
| Q4 25 | 5.21× | — | ||
| Q3 25 | 0.97× | — | ||
| Q2 25 | 0.37× | — | ||
| Q1 25 | -0.17× | — | ||
| Q4 24 | 5.69× | — | ||
| Q3 24 | 1.22× | 3.05× | ||
| Q2 24 | 0.69× | 3.76× | ||
| Q1 24 | -1.27× | 0.25× |
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
IPAR
| European Based Operations | $232.7M | 60% |
| United States Based Operations | $155.2M | 40% |
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
