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埃培智集团（IPG）与Martin Marietta Materials（MLM）财务数据对比。点击上方公司名可切换其他公司
埃培智集团的季度营收约是Martin Marietta Materials的1.9倍（$2.1B vs $1.1B），Martin Marietta Materials净利率更高（24.5% vs 5.8%，领先18.7%），埃培智集团同比增速更快（-4.8% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $153.6M），过去两年Martin Marietta Materials的营收复合增速更高（-4.5% 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。
马丁·玛丽埃塔材料公司是美国大型集料及重型建筑材料供应商，业务覆盖美国26个州、加拿大及加勒比地区，主要为道路、人行道、地基等各类基建项目提供所需原材料。
IPG vs MLM — 直观对比
营收规模更大
IPG
是对方的1.9倍
$1.1B
营收增速更快
IPG
高出25.4%
-30.1%
净利率更高
MLM
高出18.7%
5.8%
自由现金流更多
MLM
多$270.4M
$153.6M
两年增速更快
MLM
近两年复合增速
-9.1%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.1B |
| 净利润 | $124.2M | $279.0M |
| 毛利率 | — | 35.0% |
| 营业利润率 | 10.3% | 24.6% |
| 净利率 | 5.8% | 24.5% |
| 营收同比 | -4.8% | -30.1% |
| 净利润同比 | 517.9% | -4.8% |
| 每股收益（稀释后） | $0.34 | $4.59 |
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IPGMLM
| Q4 25 | — | $1.1B | ||
| Q3 25 | $2.1B | $1.8B | ||
| Q2 25 | $2.2B | $1.8B | ||
| Q1 25 | $2.0B | $1.4B | ||
| Q4 24 | $2.4B | $1.6B | ||
| Q3 24 | $2.2B | $1.9B | ||
| Q2 24 | $2.3B | $1.8B | ||
| Q1 24 | $2.2B | $1.3B |
净利润IPGMLM
| Q4 25 | — | $279.0M | ||
| Q3 25 | $124.2M | $414.0M | ||
| Q2 25 | $162.5M | $328.0M | ||
| Q1 25 | $-85.4M | $116.0M | ||
| Q4 24 | $344.5M | $293.0M | ||
| Q3 24 | $20.1M | $363.0M | ||
| Q2 24 | $214.5M | $294.0M | ||
| Q1 24 | $110.4M | $1.0B |
毛利率IPGMLM
| Q4 25 | — | 35.0% | ||
| Q3 25 | — | 33.1% | ||
| Q2 25 | — | 30.0% | ||
| Q1 25 | -3.2% | 24.8% | ||
| Q4 24 | 10.1% | 30.0% | ||
| Q3 24 | 2.9% | 31.7% | ||
| Q2 24 | 1.2% | 29.3% | ||
| Q1 24 | -1.1% | 21.7% |
营业利润率IPGMLM
| Q4 25 | — | 24.6% | ||
| Q3 25 | 10.3% | 27.4% | ||
| Q2 25 | 11.2% | 25.3% | ||
| Q1 25 | -2.1% | 14.3% | ||
| Q4 24 | 23.3% | 24.4% | ||
| Q3 24 | 5.9% | 25.9% | ||
| Q2 24 | 13.7% | 22.6% | ||
| Q1 24 | 8.4% | — |
净利率IPGMLM
| Q4 25 | — | 24.5% | ||
| Q3 25 | 5.8% | 22.4% | ||
| Q2 25 | 7.5% | 18.1% | ||
| Q1 25 | -4.3% | 8.6% | ||
| Q4 24 | 14.1% | 18.0% | ||
| Q3 24 | 0.9% | 19.2% | ||
| Q2 24 | 9.2% | 16.7% | ||
| Q1 24 | 5.1% | 83.5% |
每股收益（稀释后）IPGMLM
| Q4 25 | — | $4.59 | ||
| Q3 25 | $0.34 | $6.85 | ||
| Q2 25 | $0.44 | $5.43 | ||
| Q1 25 | $-0.23 | $1.90 | ||
| Q4 24 | $0.92 | $4.87 | ||
| Q3 24 | $0.05 | $5.91 | ||
| Q2 24 | $0.57 | $4.76 | ||
| Q1 24 | $0.29 | $16.87 |
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 | $67.0M |
| 总债务越低越好 | — | $5.3B |
| 股东权益账面价值 | $3.7B | $10.0B |
| 总资产 | $17.0B | $18.7B |
| 负债/权益比越低杠杆越低 | — | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资IPGMLM
| Q4 25 | — | $67.0M | ||
| Q3 25 | $1.5B | $57.0M | ||
| Q2 25 | $1.6B | $225.0M | ||
| Q1 25 | $1.9B | $101.0M | ||
| Q4 24 | $2.2B | $670.0M | ||
| Q3 24 | $1.5B | $52.0M | ||
| Q2 24 | $1.5B | $109.0M | ||
| Q1 24 | $1.9B | $2.6B |
总债务IPGMLM
| Q4 25 | — | $5.3B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.4B | ||
| Q4 24 | — | $5.4B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.3B |
股东权益IPGMLM
| Q4 25 | — | $10.0B | ||
| Q3 25 | $3.7B | $9.7B | ||
| Q2 25 | $3.7B | $9.4B | ||
| Q1 25 | $3.6B | $9.1B | ||
| Q4 24 | $3.8B | $9.5B | ||
| Q3 24 | $3.7B | $9.2B | ||
| Q2 24 | $3.8B | $8.8B | ||
| Q1 24 | $3.8B | $8.9B |
总资产IPGMLM
| Q4 25 | — | $18.7B | ||
| Q3 25 | $17.0B | $18.7B | ||
| Q2 25 | $17.0B | $18.1B | ||
| Q1 25 | $17.1B | $17.7B | ||
| Q4 24 | $18.3B | $18.2B | ||
| Q3 24 | $17.1B | $16.5B | ||
| Q2 24 | $17.0B | $16.3B | ||
| Q1 24 | $17.3B | $16.2B |
负债/权益比IPGMLM
| Q4 25 | — | 0.53× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | 0.58× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | — | 0.57× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.49× | ||
| Q1 24 | — | 0.49× |
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 | $629.0M |
| 自由现金流经营现金流 - 资本支出 | $153.6M | $424.0M |
| 自由现金流率自由现金流/营收 | 7.2% | 37.2% |
| 资本支出强度资本支出/营收 | 1.2% | 18.0% |
| 现金转化率经营现金流/净利润 | 1.45× | 2.25× |
| 过去12个月自由现金流最近4个季度 | $806.8M | $978.0M |
8季度趋势，按日历期对齐
经营现金流IPGMLM
| Q4 25 | — | $629.0M | ||
| Q3 25 | $180.1M | $551.0M | ||
| Q2 25 | $-96.0M | $387.0M | ||
| Q1 25 | $-37.0M | $218.0M | ||
| Q4 24 | $868.1M | $686.0M | ||
| Q3 24 | $223.8M | $600.0M | ||
| Q2 24 | $120.7M | $1.0M | ||
| Q1 24 | $-157.4M | $172.0M |
自由现金流IPGMLM
| Q4 25 | — | $424.0M | ||
| Q3 25 | $153.6M | $361.0M | ||
| Q2 25 | $-121.8M | $208.0M | ||
| Q1 25 | $-58.5M | $-15.0M | ||
| Q4 24 | $833.5M | $453.0M | ||
| Q3 24 | $186.5M | $317.0M | ||
| Q2 24 | $85.9M | $-138.0M | ||
| Q1 24 | $-192.5M | $-28.0M |
自由现金流率IPGMLM
| Q4 25 | — | 37.2% | ||
| Q3 25 | 7.2% | 19.6% | ||
| Q2 25 | -5.6% | 11.5% | ||
| Q1 25 | -2.9% | -1.1% | ||
| Q4 24 | 34.2% | 27.8% | ||
| Q3 24 | 8.3% | 16.8% | ||
| Q2 24 | 3.7% | -7.8% | ||
| Q1 24 | -8.8% | -2.2% |
资本支出强度IPGMLM
| Q4 25 | — | 18.0% | ||
| Q3 25 | 1.2% | 10.3% | ||
| Q2 25 | 1.2% | 9.9% | ||
| Q1 25 | 1.1% | 17.2% | ||
| Q4 24 | 1.4% | 14.3% | ||
| Q3 24 | 1.7% | 15.0% | ||
| Q2 24 | 1.5% | 7.9% | ||
| Q1 24 | 1.6% | 16.0% |
现金转化率IPGMLM
| Q4 25 | — | 2.25× | ||
| Q3 25 | 1.45× | 1.33× | ||
| Q2 25 | -0.59× | 1.18× | ||
| Q1 25 | — | 1.88× | ||
| Q4 24 | 2.52× | 2.34× | ||
| Q3 24 | 11.13× | 1.65× | ||
| Q2 24 | 0.56× | 0.00× | ||
| Q1 24 | -1.43× | 0.16× |
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% |
MLM
| Building Materials Business East Group | $774.0M | 68% |
| Building Materials Business West Group | $233.0M | 20% |
| Services | $88.0M | 8% |
| Other | $45.0M | 4% |
