vs
埃培智集团（IPG）与KOHLS Corp（KSS）财务数据对比。点击上方公司名可切换其他公司
KOHLS Corp的季度营收约是埃培智集团的1.7倍（$3.6B vs $2.1B），埃培智集团净利率更高（5.8% vs 0.2%，领先5.6%），KOHLS Corp同比增速更快（-3.6% vs -4.8%），埃培智集团自由现金流更多（$153.6M vs $16.0M），过去两年埃培智集团的营收复合增速更高（-9.1% vs -22.5%）
埃培智集团（IPG）是总部位于美国纽约的广告营销传播集团，旗下拥有FCB、IPG盟博、麦肯世界集团、睿狮集团等五大核心业务网络，以及公关、体育营销、艺人经纪、医疗营销等领域的多家专业独立代理商，被宏盟收购前是与WPP、阳狮、宏盟齐名的全球广告行业“四大集团”之一。
科尔士（Kohl's）是美国知名连锁百货零售商，目前在全美除夏威夷外的各州共开设1174家门店。品牌由波兰移民麦克斯韦·科尔创立，1927年他在威斯康星州密尔沃基开设了一家街角杂货店，在当地发展为成功的连锁品牌后，1962年公司开设首家百货门店，正式进军百货零售领域。
IPG vs KSS — 直观对比
营收规模更大
KSS
是对方的1.7倍
$2.1B
营收增速更快
KSS
高出1.1%
-4.8%
净利率更高
IPG
高出5.6%
0.2%
自由现金流更多
IPG
多$137.6M
$16.0M
两年增速更快
IPG
近两年复合增速
-22.5%
损益表 — Q3 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $3.6B |
| 净利润 | $124.2M | $8.0M |
| 毛利率 | — | 42.4% |
| 营业利润率 | 10.3% | 2.0% |
| 净利率 | 5.8% | 0.2% |
| 营收同比 | -4.8% | -3.6% |
| 净利润同比 | 517.9% | -63.6% |
| 每股收益（稀释后） | $0.34 | $0.07 |
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IPGKSS
| Q4 25 | — | $3.6B | ||
| Q3 25 | $2.1B | $3.5B | ||
| Q2 25 | $2.2B | $3.2B | ||
| Q1 25 | $2.0B | $5.4B | ||
| Q4 24 | $2.4B | $3.7B | ||
| Q3 24 | $2.2B | $3.7B | ||
| Q2 24 | $2.3B | $3.4B | ||
| Q1 24 | $2.2B | $6.0B |
净利润IPGKSS
| Q4 25 | — | $8.0M | ||
| Q3 25 | $124.2M | $153.0M | ||
| Q2 25 | $162.5M | $-15.0M | ||
| Q1 25 | $-85.4M | $48.0M | ||
| Q4 24 | $344.5M | $22.0M | ||
| Q3 24 | $20.1M | $66.0M | ||
| Q2 24 | $214.5M | $-27.0M | ||
| Q1 24 | $110.4M | $186.0M |
毛利率IPGKSS
| Q4 25 | — | 42.4% | ||
| Q3 25 | — | 43.3% | ||
| Q2 25 | — | 43.3% | ||
| Q1 25 | -3.2% | 35.6% | ||
| Q4 24 | 10.1% | 42.4% | ||
| Q3 24 | 2.9% | 43.0% | ||
| Q2 24 | 1.2% | 43.1% | ||
| Q1 24 | -1.1% | 35.2% |
营业利润率IPGKSS
| Q4 25 | — | 2.0% | ||
| Q3 25 | 10.3% | 7.9% | ||
| Q2 25 | 11.2% | 1.9% | ||
| Q1 25 | -2.1% | 2.3% | ||
| Q4 24 | 23.3% | 2.6% | ||
| Q3 24 | 5.9% | 4.4% | ||
| Q2 24 | 13.7% | 1.3% | ||
| Q1 24 | 8.4% | 5.0% |
净利率IPGKSS
| Q4 25 | — | 0.2% | ||
| Q3 25 | 5.8% | 4.3% | ||
| Q2 25 | 7.5% | -0.5% | ||
| Q1 25 | -4.3% | 0.9% | ||
| Q4 24 | 14.1% | 0.6% | ||
| Q3 24 | 0.9% | 1.8% | ||
| Q2 24 | 9.2% | -0.8% | ||
| Q1 24 | 5.1% | 3.1% |
每股收益（稀释后）IPGKSS
| Q4 25 | — | $0.07 | ||
| Q3 25 | $0.34 | $1.35 | ||
| Q2 25 | $0.44 | $-0.13 | ||
| Q1 25 | $-0.23 | $0.43 | ||
| Q4 24 | $0.92 | $0.20 | ||
| Q3 24 | $0.05 | $0.59 | ||
| Q2 24 | $0.57 | $-0.24 | ||
| Q1 24 | $0.29 | $1.67 |
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 | $1.5B | $144.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.7B | $3.9B |
| 总资产 | $17.0B | $14.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资IPGKSS
| Q4 25 | — | $144.0M | ||
| Q3 25 | $1.5B | $174.0M | ||
| Q2 25 | $1.6B | $153.0M | ||
| Q1 25 | $1.9B | $134.0M | ||
| Q4 24 | $2.2B | $174.0M | ||
| Q3 24 | $1.5B | $231.0M | ||
| Q2 24 | $1.5B | $228.0M | ||
| Q1 24 | $1.9B | $183.0M |
股东权益IPGKSS
| Q4 25 | — | $3.9B | ||
| Q3 25 | $3.7B | $3.9B | ||
| Q2 25 | $3.7B | $3.8B | ||
| Q1 25 | $3.6B | $3.8B | ||
| Q4 24 | $3.8B | $3.8B | ||
| Q3 24 | $3.7B | $3.8B | ||
| Q2 24 | $3.8B | $3.8B | ||
| Q1 24 | $3.8B | $3.9B |
总资产IPGKSS
| Q4 25 | — | $14.1B | ||
| Q3 25 | $17.0B | $13.4B | ||
| Q2 25 | $17.0B | $13.6B | ||
| Q1 25 | $17.1B | $13.6B | ||
| Q4 24 | $18.3B | $15.1B | ||
| Q3 24 | $17.1B | $14.2B | ||
| Q2 24 | $17.0B | $14.3B | ||
| Q1 24 | $17.3B | $14.0B |
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 | $180.1M | $124.0M |
| 自由现金流经营现金流 - 资本支出 | $153.6M | $16.0M |
| 自由现金流率自由现金流/营收 | 7.2% | 0.4% |
| 资本支出强度资本支出/营收 | 1.2% | 3.0% |
| 现金转化率经营现金流/净利润 | 1.45× | 15.50× |
| 过去12个月自由现金流最近4个季度 | $806.8M | $819.0M |
8季度趋势，按日历期对齐
经营现金流IPGKSS
| Q4 25 | — | $124.0M | ||
| Q3 25 | $180.1M | $598.0M | ||
| Q2 25 | $-96.0M | $-92.0M | ||
| Q1 25 | $-37.0M | $596.0M | ||
| Q4 24 | $868.1M | $-195.0M | ||
| Q3 24 | $223.8M | $254.0M | ||
| Q2 24 | $120.7M | $-7.0M | ||
| Q1 24 | $-157.4M | $789.0M |
自由现金流IPGKSS
| Q4 25 | — | $16.0M | ||
| Q3 25 | $153.6M | $508.0M | ||
| Q2 25 | $-121.8M | $-202.0M | ||
| Q1 25 | $-58.5M | $497.0M | ||
| Q4 24 | $833.5M | $-323.0M | ||
| Q3 24 | $186.5M | $141.0M | ||
| Q2 24 | $85.9M | $-133.0M | ||
| Q1 24 | $-192.5M | $707.0M |
自由现金流率IPGKSS
| Q4 25 | — | 0.4% | ||
| Q3 25 | 7.2% | 14.3% | ||
| Q2 25 | -5.6% | -6.2% | ||
| Q1 25 | -2.9% | 9.2% | ||
| Q4 24 | 34.2% | -8.7% | ||
| Q3 24 | 8.3% | 3.8% | ||
| Q2 24 | 3.7% | -3.9% | ||
| Q1 24 | -8.8% | 11.9% |
资本支出强度IPGKSS
| Q4 25 | — | 3.0% | ||
| Q3 25 | 1.2% | 2.5% | ||
| Q2 25 | 1.2% | 3.4% | ||
| Q1 25 | 1.1% | 1.8% | ||
| Q4 24 | 1.4% | 3.5% | ||
| Q3 24 | 1.7% | 3.0% | ||
| Q2 24 | 1.5% | 3.7% | ||
| Q1 24 | 1.6% | 1.4% |
现金转化率IPGKSS
| Q4 25 | — | 15.50× | ||
| Q3 25 | 1.45× | 3.91× | ||
| Q2 25 | -0.59× | — | ||
| Q1 25 | — | 12.42× | ||
| Q4 24 | 2.52× | -8.86× | ||
| Q3 24 | 11.13× | 3.85× | ||
| Q2 24 | 0.56× | — | ||
| Q1 24 | -1.43× | 4.24× |
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
IPG
| MDE | $619.0M | 29% |
| IAC | $574.9M | 27% |
| Other | $527.9M | 25% |
| SCE | $413.8M | 19% |
KSS
| Products | $3.4B | 95% |
| Other | $168.0M | 5% |
| Gift Card | $17.0M | 0% |
