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埃培智集团（IPG）与Meta Platforms（META）财务数据对比。点击上方公司名可切换其他公司
Meta Platforms的季度营收约是埃培智集团的28.0倍（$59.9B vs $2.1B）。Meta Platforms净利率更高（38.0% vs 5.8%，领先32.2%）。Meta Platforms同比增速更快（23.8% vs -4.8%）。Meta Platforms自由现金流更多（$14.8B vs $153.6M）。过去两年Meta Platforms的营收复合增速更高（28.2% vs -9.1%）
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。
Meta Platforms是总部位于美国加利福尼亚州门洛帕克的跨国科技巨头，属于全球头部科技企业阵营。旗下运营Facebook、Instagram、WhatsApp、Messenger、Threads等多款知名社交媒体及通讯服务，同时开展自有及第三方站点广告业务，2023年广告收入占其总营收的97.8%。
IPG vs META — 直观对比
营收规模更大
META
是对方的28.0倍
$2.1B
营收增速更快
META
高出28.6%
-4.8%
净利率更高
META
高出32.2%
5.8%
自由现金流更多
META
多$14.7B
$153.6M
两年增速更快
META
近两年复合增速
-9.1%
损益表 — Q3 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $59.9B |
| 净利润 | $124.2M | $22.8B |
| 毛利率 | — | 81.8% |
| 营业利润率 | 10.3% | 41.3% |
| 净利率 | 5.8% | 38.0% |
| 营收同比 | -4.8% | 23.8% |
| 净利润同比 | 517.9% | 9.3% |
| 每股收益（稀释后） | $0.34 | $8.87 |
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IPGMETA
| Q4 25 | — | $59.9B | ||
| Q3 25 | $2.1B | $51.2B | ||
| Q2 25 | $2.2B | $47.5B | ||
| Q1 25 | $2.0B | $42.3B | ||
| Q4 24 | $2.4B | $48.4B | ||
| Q3 24 | $2.2B | $40.6B | ||
| Q2 24 | $2.3B | $39.1B | ||
| Q1 24 | $2.2B | $36.5B |
净利润IPGMETA
| Q4 25 | — | $22.8B | ||
| Q3 25 | $124.2M | $2.7B | ||
| Q2 25 | $162.5M | $18.3B | ||
| Q1 25 | $-85.4M | $16.6B | ||
| Q4 24 | $344.5M | $20.8B | ||
| Q3 24 | $20.1M | $15.7B | ||
| Q2 24 | $214.5M | $13.5B | ||
| Q1 24 | $110.4M | $12.4B |
毛利率IPGMETA
| Q4 25 | — | 81.8% | ||
| Q3 25 | — | 82.0% | ||
| Q2 25 | — | 82.1% | ||
| Q1 25 | -3.2% | 82.1% | ||
| Q4 24 | 10.1% | 81.7% | ||
| Q3 24 | 2.9% | 81.8% | ||
| Q2 24 | 1.2% | 81.3% | ||
| Q1 24 | -1.1% | 81.8% |
营业利润率IPGMETA
| Q4 25 | — | 41.3% | ||
| Q3 25 | 10.3% | 40.1% | ||
| Q2 25 | 11.2% | 43.0% | ||
| Q1 25 | -2.1% | 41.5% | ||
| Q4 24 | 23.3% | 48.3% | ||
| Q3 24 | 5.9% | 42.7% | ||
| Q2 24 | 13.7% | 38.0% | ||
| Q1 24 | 8.4% | 37.9% |
净利率IPGMETA
| Q4 25 | — | 38.0% | ||
| Q3 25 | 5.8% | 5.3% | ||
| Q2 25 | 7.5% | 38.6% | ||
| Q1 25 | -4.3% | 39.3% | ||
| Q4 24 | 14.1% | 43.1% | ||
| Q3 24 | 0.9% | 38.7% | ||
| Q2 24 | 9.2% | 34.5% | ||
| Q1 24 | 5.1% | 33.9% |
每股收益（稀释后）IPGMETA
| Q4 25 | — | $8.87 | ||
| Q3 25 | $0.34 | $1.05 | ||
| Q2 25 | $0.44 | $7.14 | ||
| Q1 25 | $-0.23 | $6.43 | ||
| Q4 24 | $0.92 | $7.96 | ||
| Q3 24 | $0.05 | $6.03 | ||
| Q2 24 | $0.57 | $5.16 | ||
| Q1 24 | $0.29 | $4.71 |
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 | $81.6B |
| 总债务越低越好 | — | $58.7B |
| 股东权益账面价值 | $3.7B | $217.2B |
| 总资产 | $17.0B | $366.0B |
| 负债/权益比越低杠杆越低 | — | 0.27× |
8季度趋势，按日历期对齐
现金及短期投资IPGMETA
| Q4 25 | — | $81.6B | ||
| Q3 25 | $1.5B | $44.4B | ||
| Q2 25 | $1.6B | $47.1B | ||
| Q1 25 | $1.9B | $70.2B | ||
| Q4 24 | $2.2B | $77.8B | ||
| Q3 24 | $1.5B | $70.9B | ||
| Q2 24 | $1.5B | $58.1B | ||
| Q1 24 | $1.9B | $58.1B |
总债务IPGMETA
| Q4 25 | — | $58.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $28.8B | ||
| Q3 24 | — | $28.8B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IPGMETA
| Q4 25 | — | $217.2B | ||
| Q3 25 | $3.7B | $194.1B | ||
| Q2 25 | $3.7B | $195.1B | ||
| Q1 25 | $3.6B | $185.0B | ||
| Q4 24 | $3.8B | $182.6B | ||
| Q3 24 | $3.7B | $164.5B | ||
| Q2 24 | $3.8B | $156.8B | ||
| Q1 24 | $3.8B | $149.5B |
总资产IPGMETA
| Q4 25 | — | $366.0B | ||
| Q3 25 | $17.0B | $303.8B | ||
| Q2 25 | $17.0B | $294.7B | ||
| Q1 25 | $17.1B | $280.2B | ||
| Q4 24 | $18.3B | $276.1B | ||
| Q3 24 | $17.1B | $256.4B | ||
| Q2 24 | $17.0B | $230.2B | ||
| Q1 24 | $17.3B | $222.8B |
负债/权益比IPGMETA
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $36.2B |
| 自由现金流经营现金流 - 资本支出 | $153.6M | $14.8B |
| 自由现金流率自由现金流/营收 | 7.2% | 24.8% |
| 资本支出强度资本支出/营收 | 1.2% | 35.7% |
| 现金转化率经营现金流/净利润 | 1.45× | 1.59× |
| 过去12个月自由现金流最近4个季度 | $806.8M | $46.1B |
8季度趋势，按日历期对齐
经营现金流IPGMETA
| Q4 25 | — | $36.2B | ||
| Q3 25 | $180.1M | $30.0B | ||
| Q2 25 | $-96.0M | $25.6B | ||
| Q1 25 | $-37.0M | $24.0B | ||
| Q4 24 | $868.1M | $28.0B | ||
| Q3 24 | $223.8M | $24.7B | ||
| Q2 24 | $120.7M | $19.4B | ||
| Q1 24 | $-157.4M | $19.2B |
自由现金流IPGMETA
| Q4 25 | — | $14.8B | ||
| Q3 25 | $153.6M | $11.2B | ||
| Q2 25 | $-121.8M | $9.0B | ||
| Q1 25 | $-58.5M | $11.1B | ||
| Q4 24 | $833.5M | $13.6B | ||
| Q3 24 | $186.5M | $16.5B | ||
| Q2 24 | $85.9M | $11.2B | ||
| Q1 24 | $-192.5M | $12.8B |
自由现金流率IPGMETA
| Q4 25 | — | 24.8% | ||
| Q3 25 | 7.2% | 21.8% | ||
| Q2 25 | -5.6% | 19.0% | ||
| Q1 25 | -2.9% | 26.2% | ||
| Q4 24 | 34.2% | 28.0% | ||
| Q3 24 | 8.3% | 40.6% | ||
| Q2 24 | 3.7% | 28.7% | ||
| Q1 24 | -8.8% | 35.2% |
资本支出强度IPGMETA
| Q4 25 | — | 35.7% | ||
| Q3 25 | 1.2% | 36.7% | ||
| Q2 25 | 1.2% | 34.8% | ||
| Q1 25 | 1.1% | 30.6% | ||
| Q4 24 | 1.4% | 29.8% | ||
| Q3 24 | 1.7% | 20.3% | ||
| Q2 24 | 1.5% | 20.9% | ||
| Q1 24 | 1.6% | 17.6% |
现金转化率IPGMETA
| Q4 25 | — | 1.59× | ||
| Q3 25 | 1.45× | 11.07× | ||
| Q2 25 | -0.59× | 1.39× | ||
| Q1 25 | — | 1.44× | ||
| Q4 24 | 2.52× | 1.34× | ||
| Q3 24 | 11.13× | 1.58× | ||
| Q2 24 | 0.56× | 1.44× | ||
| Q1 24 | -1.43× | 1.56× |
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% |
META
| Advertising | $58.1B | 97% |
| Reality Labs | $955.0M | 2% |
| Service Other | $801.0M | 1% |
