vs
埃培智集团（IPG）与PINTEREST, INC.（PINS）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PINTEREST, INC.的1.6倍（$2.1B vs $1.3B），PINTEREST, INC.净利率更高（21.0% vs 5.8%，领先15.2%），PINTEREST, INC.同比增速更快（14.3% vs -4.8%），PINTEREST, INC.自由现金流更多（$380.4M vs $153.6M），过去两年PINTEREST, INC.的营收复合增速更高（33.5% 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。
Pinterest是美国社交媒体服务商，主打数字图板形式的信息发布与发现功能，用户可通过图片分享获取食谱、家居、穿搭、创意灵感等多元内容。公司由本·西尔伯曼、保罗·夏拉、埃文·夏普联合创立，总部位于旧金山。
IPG vs PINS — 直观对比
营收规模更大
IPG
是对方的1.6倍
$1.3B
营收增速更快
PINS
高出19.1%
-4.8%
净利率更高
PINS
高出15.2%
5.8%
自由现金流更多
PINS
多$226.8M
$153.6M
两年增速更快
PINS
近两年复合增速
-9.1%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.3B |
| 净利润 | $124.2M | $277.1M |
| 毛利率 | — | 82.8% |
| 营业利润率 | 10.3% | 22.8% |
| 净利率 | 5.8% | 21.0% |
| 营收同比 | -4.8% | 14.3% |
| 净利润同比 | 517.9% | -85.0% |
| 每股收益（稀释后） | $0.34 | $0.41 |
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IPGPINS
| Q4 25 | — | $1.3B | ||
| Q3 25 | $2.1B | $1.0B | ||
| Q2 25 | $2.2B | $998.2M | ||
| Q1 25 | $2.0B | $855.0M | ||
| Q4 24 | $2.4B | $1.2B | ||
| Q3 24 | $2.2B | $898.4M | ||
| Q2 24 | $2.3B | $853.7M | ||
| Q1 24 | $2.2B | $740.0M |
净利润IPGPINS
| Q4 25 | — | $277.1M | ||
| Q3 25 | $124.2M | $92.1M | ||
| Q2 25 | $162.5M | $38.8M | ||
| Q1 25 | $-85.4M | $8.9M | ||
| Q4 24 | $344.5M | $1.8B | ||
| Q3 24 | $20.1M | $30.6M | ||
| Q2 24 | $214.5M | $8.9M | ||
| Q1 24 | $110.4M | $-24.8M |
毛利率IPGPINS
| Q4 25 | — | 82.8% | ||
| Q3 25 | — | 79.8% | ||
| Q2 25 | — | 79.7% | ||
| Q1 25 | -3.2% | 76.7% | ||
| Q4 24 | 10.1% | 82.9% | ||
| Q3 24 | 2.9% | 79.1% | ||
| Q2 24 | 1.2% | 78.3% | ||
| Q1 24 | -1.1% | 75.5% |
营业利润率IPGPINS
| Q4 25 | — | 22.8% | ||
| Q3 25 | 10.3% | 5.6% | ||
| Q2 25 | 11.2% | -0.4% | ||
| Q1 25 | -2.1% | -4.1% | ||
| Q4 24 | 23.3% | 22.7% | ||
| Q3 24 | 5.9% | -0.7% | ||
| Q2 24 | 13.7% | -2.5% | ||
| Q1 24 | 8.4% | -7.4% |
净利率IPGPINS
| Q4 25 | — | 21.0% | ||
| Q3 25 | 5.8% | 8.8% | ||
| Q2 25 | 7.5% | 3.9% | ||
| Q1 25 | -4.3% | 1.0% | ||
| Q4 24 | 14.1% | 160.1% | ||
| Q3 24 | 0.9% | 3.4% | ||
| Q2 24 | 9.2% | 1.0% | ||
| Q1 24 | 5.1% | -3.4% |
每股收益（稀释后）IPGPINS
| Q4 25 | — | $0.41 | ||
| Q3 25 | $0.34 | $0.13 | ||
| Q2 25 | $0.44 | $0.06 | ||
| Q1 25 | $-0.23 | $0.01 | ||
| Q4 24 | $0.92 | $2.66 | ||
| Q3 24 | $0.05 | $0.04 | ||
| Q2 24 | $0.57 | $0.01 | ||
| Q1 24 | $0.29 | $-0.04 |
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 | $969.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.7B | $4.7B |
| 总资产 | $17.0B | $5.5B |
| 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IPGPINS
| Q4 25 | — | $969.3M | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $1.9B | $1.3B | ||
| Q4 24 | $2.2B | $1.1B | ||
| Q3 24 | $1.5B | $1.0B | ||
| Q2 24 | $1.5B | $1.4B | ||
| Q1 24 | $1.9B | $1.6B |
股东权益IPGPINS
| Q4 25 | — | $4.7B | ||
| Q3 25 | $3.7B | $4.8B | ||
| Q2 25 | $3.7B | $4.8B | ||
| Q1 25 | $3.6B | $4.7B | ||
| Q4 24 | $3.8B | $4.8B | ||
| Q3 24 | $3.7B | $2.9B | ||
| Q2 24 | $3.8B | $3.2B | ||
| Q1 24 | $3.8B | $3.1B |
总资产IPGPINS
| Q4 25 | — | $5.5B | ||
| Q3 25 | $17.0B | $5.5B | ||
| Q2 25 | $17.0B | $5.4B | ||
| Q1 25 | $17.1B | $5.3B | ||
| Q4 24 | $18.3B | $5.3B | ||
| Q3 24 | $17.1B | $3.5B | ||
| Q2 24 | $17.0B | $3.7B | ||
| Q1 24 | $17.3B | $3.7B |
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 | $391.2M |
| 自由现金流经营现金流 - 资本支出 | $153.6M | $380.4M |
| 自由现金流率自由现金流/营收 | 7.2% | 28.8% |
| 资本支出强度资本支出/营收 | 1.2% | 0.8% |
| 现金转化率经营现金流/净利润 | 1.45× | 1.41× |
| 过去12个月自由现金流最近4个季度 | $806.8M | $1.3B |
8季度趋势，按日历期对齐
经营现金流IPGPINS
| Q4 25 | — | $391.2M | ||
| Q3 25 | $180.1M | $321.7M | ||
| Q2 25 | $-96.0M | $207.7M | ||
| Q1 25 | $-37.0M | $363.7M | ||
| Q4 24 | $868.1M | $254.0M | ||
| Q3 24 | $223.8M | $248.0M | ||
| Q2 24 | $120.7M | $106.4M | ||
| Q1 24 | $-157.4M | $356.1M |
自由现金流IPGPINS
| Q4 25 | — | $380.4M | ||
| Q3 25 | $153.6M | $318.4M | ||
| Q2 25 | $-121.8M | $196.7M | ||
| Q1 25 | $-58.5M | $356.4M | ||
| Q4 24 | $833.5M | $250.2M | ||
| Q3 24 | $186.5M | $244.1M | ||
| Q2 24 | $85.9M | $101.6M | ||
| Q1 24 | $-192.5M | $344.0M |
自由现金流率IPGPINS
| Q4 25 | — | 28.8% | ||
| Q3 25 | 7.2% | 30.3% | ||
| Q2 25 | -5.6% | 19.7% | ||
| Q1 25 | -2.9% | 41.7% | ||
| Q4 24 | 34.2% | 21.7% | ||
| Q3 24 | 8.3% | 27.2% | ||
| Q2 24 | 3.7% | 11.9% | ||
| Q1 24 | -8.8% | 46.5% |
资本支出强度IPGPINS
| Q4 25 | — | 0.8% | ||
| Q3 25 | 1.2% | 0.3% | ||
| Q2 25 | 1.2% | 1.1% | ||
| Q1 25 | 1.1% | 0.9% | ||
| Q4 24 | 1.4% | 0.3% | ||
| Q3 24 | 1.7% | 0.4% | ||
| Q2 24 | 1.5% | 0.6% | ||
| Q1 24 | 1.6% | 1.6% |
现金转化率IPGPINS
| Q4 25 | — | 1.41× | ||
| Q3 25 | 1.45× | 3.49× | ||
| Q2 25 | -0.59× | 5.36× | ||
| Q1 25 | — | 40.77× | ||
| Q4 24 | 2.52× | 0.14× | ||
| Q3 24 | 11.13× | 8.12× | ||
| Q2 24 | 0.56× | 11.98× | ||
| 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% |
PINS
| United States And Canada | $944.3M | 72% |
| Other | $375.0M | 28% |
