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埃培智集团（IPG）与Optimum Communications, Inc.（OPTU）财务数据对比。点击上方公司名可切换其他公司
Optimum Communications, Inc.的季度营收约是埃培智集团的1.0倍（$2.2B vs $2.1B），埃培智集团净利率更高（5.8% vs -3.3%，领先9.1%），Optimum Communications, Inc.同比增速更快（-2.3% vs -4.8%），Optimum Communications, Inc.自由现金流更多（$199.4M vs $153.6M），过去两年Optimum Communications, Inc.的营收复合增速更高（-1.5% 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。
Optimum Communications, Inc.是由法籍以色列商人帕特里克·德拉希控股的美国电信运营商，核心业务为数字有线电视与宽带互联网服务，服务覆盖纽约大都会区及美国中西部、南部多个州。截至2017年，该公司在全美21个州共拥有约490万住宅及企业客户，是美国第四大电信企业。
IPG vs OPTU — 直观对比
营收规模更大
OPTU
是对方的1.0倍
$2.1B
营收增速更快
OPTU
高出2.4%
-4.8%
净利率更高
IPG
高出9.1%
-3.3%
自由现金流更多
OPTU
多$45.8M
$153.6M
两年增速更快
OPTU
近两年复合增速
-9.1%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.2B |
| 净利润 | $124.2M | $-71.2M |
| 毛利率 | — | 69.5% |
| 营业利润率 | 10.3% | 18.2% |
| 净利率 | 5.8% | -3.3% |
| 营收同比 | -4.8% | -2.3% |
| 净利润同比 | 517.9% | -31.6% |
| 每股收益（稀释后） | $0.34 | $-0.16 |
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IPGOPTU
| Q4 25 | — | $2.2B | ||
| Q3 25 | $2.1B | $2.1B | ||
| Q2 25 | $2.2B | $2.1B | ||
| Q1 25 | $2.0B | $2.2B | ||
| Q4 24 | $2.4B | $2.2B | ||
| Q3 24 | $2.2B | $2.2B | ||
| Q2 24 | $2.3B | $2.2B | ||
| Q1 24 | $2.2B | $2.3B |
净利润IPGOPTU
| Q4 25 | — | $-71.2M | ||
| Q3 25 | $124.2M | $-1.6B | ||
| Q2 25 | $162.5M | $-96.3M | ||
| Q1 25 | $-85.4M | $-75.7M | ||
| Q4 24 | $344.5M | $-54.1M | ||
| Q3 24 | $20.1M | $-43.0M | ||
| Q2 24 | $214.5M | $15.4M | ||
| Q1 24 | $110.4M | $-21.2M |
毛利率IPGOPTU
| Q4 25 | — | 69.5% | ||
| Q3 25 | — | 69.7% | ||
| Q2 25 | — | 69.1% | ||
| Q1 25 | -3.2% | 68.8% | ||
| Q4 24 | 10.1% | 67.7% | ||
| Q3 24 | 2.9% | 68.1% | ||
| Q2 24 | 1.2% | 67.9% | ||
| Q1 24 | -1.1% | 67.0% |
营业利润率IPGOPTU
| Q4 25 | — | 18.2% | ||
| Q3 25 | 10.3% | -55.3% | ||
| Q2 25 | 11.2% | 14.5% | ||
| Q1 25 | -2.1% | 16.0% | ||
| Q4 24 | 23.3% | 15.2% | ||
| Q3 24 | 5.9% | 20.0% | ||
| Q2 24 | 13.7% | 22.4% | ||
| Q1 24 | 8.4% | 17.5% |
净利率IPGOPTU
| Q4 25 | — | -3.3% | ||
| Q3 25 | 5.8% | -77.1% | ||
| Q2 25 | 7.5% | -4.5% | ||
| Q1 25 | -4.3% | -3.5% | ||
| Q4 24 | 14.1% | -2.4% | ||
| Q3 24 | 0.9% | -1.9% | ||
| Q2 24 | 9.2% | 0.7% | ||
| Q1 24 | 5.1% | -0.9% |
每股收益（稀释后）IPGOPTU
| Q4 25 | — | $-0.16 | ||
| Q3 25 | $0.34 | $-3.47 | ||
| Q2 25 | $0.44 | $-0.21 | ||
| Q1 25 | $-0.23 | $-0.16 | ||
| Q4 24 | $0.92 | $-0.11 | ||
| Q3 24 | $0.05 | $-0.09 | ||
| Q2 24 | $0.57 | $0.03 | ||
| Q1 24 | $0.29 | $-0.05 |
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 | $1.0B |
| 总债务越低越好 | — | $26.2B |
| 股东权益账面价值 | $3.7B | $-2.3B |
| 总资产 | $17.0B | $30.7B |
| 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IPGOPTU
| Q4 25 | — | $1.0B | ||
| Q3 25 | $1.5B | $938.8M | ||
| Q2 25 | $1.6B | $247.3M | ||
| Q1 25 | $1.9B | $279.1M | ||
| Q4 24 | $2.2B | $256.5M | ||
| Q3 24 | $1.5B | $250.0M | ||
| Q2 24 | $1.5B | $362.1M | ||
| Q1 24 | $1.9B | $284.4M |
总债务IPGOPTU
| Q4 25 | — | $26.2B | ||
| Q3 25 | — | $26.2B | ||
| Q2 25 | — | $25.3B | ||
| Q1 25 | — | $25.3B | ||
| Q4 24 | — | $25.1B | ||
| Q3 24 | — | $25.1B | ||
| Q2 24 | — | $25.2B | ||
| Q1 24 | — | $25.1B |
股东权益IPGOPTU
| Q4 25 | — | $-2.3B | ||
| Q3 25 | $3.7B | $-2.2B | ||
| Q2 25 | $3.7B | $-624.1M | ||
| Q1 25 | $3.6B | $-543.0M | ||
| Q4 24 | $3.8B | $-469.2M | ||
| Q3 24 | $3.7B | $-427.1M | ||
| Q2 24 | $3.8B | $-399.1M | ||
| Q1 24 | $3.8B | $-431.2M |
总资产IPGOPTU
| Q4 25 | — | $30.7B | ||
| Q3 25 | $17.0B | $30.7B | ||
| Q2 25 | $17.0B | $31.6B | ||
| Q1 25 | $17.1B | $31.7B | ||
| Q4 24 | $18.3B | $31.7B | ||
| Q3 24 | $17.1B | $31.8B | ||
| Q2 24 | $17.0B | $32.0B | ||
| Q1 24 | $17.3B | $31.9B |
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 | $481.6M |
| 自由现金流经营现金流 - 资本支出 | $153.6M | $199.4M |
| 自由现金流率自由现金流/营收 | 7.2% | 9.1% |
| 资本支出强度资本支出/营收 | 1.2% | 12.9% |
| 现金转化率经营现金流/净利润 | 1.45× | — |
| 过去12个月自由现金流最近4个季度 | $806.8M | $-118.8M |
8季度趋势，按日历期对齐
经营现金流IPGOPTU
| Q4 25 | — | $481.6M | ||
| Q3 25 | $180.1M | $147.4M | ||
| Q2 25 | $-96.0M | $412.0M | ||
| Q1 25 | $-37.0M | $187.5M | ||
| Q4 24 | $868.1M | $439.9M | ||
| Q3 24 | $223.8M | $436.0M | ||
| Q2 24 | $120.7M | $306.8M | ||
| Q1 24 | $-157.4M | $399.7M |
自由现金流IPGOPTU
| Q4 25 | — | $199.4M | ||
| Q3 25 | $153.6M | $-178.1M | ||
| Q2 25 | $-121.8M | $28.4M | ||
| Q1 25 | $-58.5M | $-168.6M | ||
| Q4 24 | $833.5M | $49.9M | ||
| Q3 24 | $186.5M | $76.9M | ||
| Q2 24 | $85.9M | $-40.9M | ||
| Q1 24 | $-192.5M | $63.6M |
自由现金流率IPGOPTU
| Q4 25 | — | 9.1% | ||
| Q3 25 | 7.2% | -8.4% | ||
| Q2 25 | -5.6% | 1.3% | ||
| Q1 25 | -2.9% | -7.8% | ||
| Q4 24 | 34.2% | 2.2% | ||
| Q3 24 | 8.3% | 3.5% | ||
| Q2 24 | 3.7% | -1.8% | ||
| Q1 24 | -8.8% | 2.8% |
资本支出强度IPGOPTU
| Q4 25 | — | 12.9% | ||
| Q3 25 | 1.2% | 15.4% | ||
| Q2 25 | 1.2% | 17.9% | ||
| Q1 25 | 1.1% | 16.5% | ||
| Q4 24 | 1.4% | 17.5% | ||
| Q3 24 | 1.7% | 16.1% | ||
| Q2 24 | 1.5% | 15.5% | ||
| Q1 24 | 1.6% | 14.9% |
现金转化率IPGOPTU
| Q4 25 | — | — | ||
| Q3 25 | 1.45× | — | ||
| Q2 25 | -0.59× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.52× | — | ||
| Q3 24 | 11.13× | — | ||
| Q2 24 | 0.56× | 19.97× | ||
| Q1 24 | -1.43× | — |
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% |
OPTU
| Total Residential Revenue | $1.6B | 74% |
| Business Servicesand Wholesale | $401.8M | 18% |
| Telephony | $60.8M | 3% |
| Other | $57.9M | 3% |
| Franchise | $50.0M | 2% |
