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埃培智集团（IPG）与PPL Corporation（PPL）财务数据对比。点击上方公司名可切换其他公司
PPL Corporation的季度营收约是埃培智集团的1.1倍（$2.3B vs $2.1B），PPL Corporation净利率更高（11.3% vs 5.8%，领先5.5%），PPL Corporation同比增速更快（7.2% vs -4.8%），埃培智集团自由现金流更多（$153.6M vs $-614.0M），过去两年PPL Corporation的营收复合增速更高（1.0% 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。
PPL公司是总部位于美国宾夕法尼亚州的能源公用事业控股企业，为宾州、肯塔基州、罗德岛州约350万居民及工商业用户提供电力与天然气供应服务，核心业务方向包括电网现代化升级、清洁能源转型、高可靠性可持续能源服务供给。
IPG vs PPL — 直观对比
营收规模更大
PPL
是对方的1.1倍
$2.1B
营收增速更快
PPL
高出12.0%
-4.8%
净利率更高
PPL
高出5.5%
5.8%
自由现金流更多
IPG
多$767.6M
$-614.0M
两年增速更快
PPL
近两年复合增速
-9.1%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.3B |
| 净利润 | $124.2M | $266.0M |
| 毛利率 | — | — |
| 营业利润率 | 10.3% | 20.3% |
| 净利率 | 5.8% | 11.3% |
| 营收同比 | -4.8% | 7.2% |
| 净利润同比 | 517.9% | 50.3% |
| 每股收益（稀释后） | $0.34 | $0.35 |
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IPGPPL
| Q4 25 | — | $2.3B | ||
| Q3 25 | $2.1B | $2.2B | ||
| Q2 25 | $2.2B | $2.0B | ||
| Q1 25 | $2.0B | $2.5B | ||
| Q4 24 | $2.4B | $2.2B | ||
| Q3 24 | $2.2B | $2.1B | ||
| Q2 24 | $2.3B | $1.9B | ||
| Q1 24 | $2.2B | $2.3B |
净利润IPGPPL
| Q4 25 | — | $266.0M | ||
| Q3 25 | $124.2M | $318.0M | ||
| Q2 25 | $162.5M | $183.0M | ||
| Q1 25 | $-85.4M | $414.0M | ||
| Q4 24 | $344.5M | $177.0M | ||
| Q3 24 | $20.1M | $214.0M | ||
| Q2 24 | $214.5M | $190.0M | ||
| Q1 24 | $110.4M | $307.0M |
毛利率IPGPPL
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -3.2% | — | ||
| Q4 24 | 10.1% | — | ||
| Q3 24 | 2.9% | — | ||
| Q2 24 | 1.2% | — | ||
| Q1 24 | -1.1% | — |
营业利润率IPGPPL
| Q4 25 | — | 20.3% | ||
| Q3 25 | 10.3% | 25.4% | ||
| Q2 25 | 11.2% | 19.9% | ||
| Q1 25 | -2.1% | 26.6% | ||
| Q4 24 | 23.3% | 17.2% | ||
| Q3 24 | 5.9% | 20.6% | ||
| Q2 24 | 13.7% | 20.8% | ||
| Q1 24 | 8.4% | 23.7% |
净利率IPGPPL
| Q4 25 | — | 11.3% | ||
| Q3 25 | 5.8% | 14.2% | ||
| Q2 25 | 7.5% | 9.0% | ||
| Q1 25 | -4.3% | 16.3% | ||
| Q4 24 | 14.1% | 8.1% | ||
| Q3 24 | 0.9% | 10.3% | ||
| Q2 24 | 9.2% | 10.1% | ||
| Q1 24 | 5.1% | 13.3% |
每股收益（稀释后）IPGPPL
| Q4 25 | — | $0.35 | ||
| Q3 25 | $0.34 | $0.43 | ||
| Q2 25 | $0.44 | $0.25 | ||
| Q1 25 | $-0.23 | $0.56 | ||
| Q4 24 | $0.92 | $0.23 | ||
| Q3 24 | $0.05 | $0.29 | ||
| Q2 24 | $0.57 | $0.26 | ||
| Q1 24 | $0.29 | $0.42 |
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 | $1.1B |
| 总债务越低越好 | — | $18.9B |
| 股东权益账面价值 | $3.7B | $14.9B |
| 总资产 | $17.0B | $45.2B |
| 负债/权益比越低杠杆越低 | — | 1.27× |
8季度趋势，按日历期对齐
现金及短期投资IPGPPL
| Q4 25 | — | $1.1B | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.6B | $294.0M | ||
| Q1 25 | $1.9B | $312.0M | ||
| Q4 24 | $2.2B | $306.0M | ||
| Q3 24 | $1.5B | $542.0M | ||
| Q2 24 | $1.5B | $282.0M | ||
| Q1 24 | $1.9B | $276.0M |
总债务IPGPPL
| Q4 25 | — | $18.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $16.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IPGPPL
| Q4 25 | — | $14.9B | ||
| Q3 25 | $3.7B | $14.4B | ||
| Q2 25 | $3.7B | $14.3B | ||
| Q1 25 | $3.6B | $14.3B | ||
| Q4 24 | $3.8B | $14.1B | ||
| Q3 24 | $3.7B | $14.1B | ||
| Q2 24 | $3.8B | $14.1B | ||
| Q1 24 | $3.8B | $14.1B |
总资产IPGPPL
| Q4 25 | — | $45.2B | ||
| Q3 25 | $17.0B | $43.9B | ||
| Q2 25 | $17.0B | $42.4B | ||
| Q1 25 | $17.1B | $41.8B | ||
| Q4 24 | $18.3B | $41.1B | ||
| Q3 24 | $17.1B | $40.5B | ||
| Q2 24 | $17.0B | $39.8B | ||
| Q1 24 | $17.3B | $39.6B |
负债/权益比IPGPPL
| Q4 25 | — | 1.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.17× | ||
| Q3 24 | — | — | ||
| 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 | $548.0M |
| 自由现金流经营现金流 - 资本支出 | $153.6M | $-614.0M |
| 自由现金流率自由现金流/营收 | 7.2% | -26.1% |
| 资本支出强度资本支出/营收 | 1.2% | 49.5% |
| 现金转化率经营现金流/净利润 | 1.45× | 2.06× |
| 过去12个月自由现金流最近4个季度 | $806.8M | $-1.4B |
8季度趋势，按日历期对齐
经营现金流IPGPPL
| Q4 25 | — | $548.0M | ||
| Q3 25 | $180.1M | $966.0M | ||
| Q2 25 | $-96.0M | $602.0M | ||
| Q1 25 | $-37.0M | $513.0M | ||
| Q4 24 | $868.1M | $511.0M | ||
| Q3 24 | $223.8M | $781.0M | ||
| Q2 24 | $120.7M | $766.0M | ||
| Q1 24 | $-157.4M | $282.0M |
自由现金流IPGPPL
| Q4 25 | — | $-614.0M | ||
| Q3 25 | $153.6M | $-179.0M | ||
| Q2 25 | $-121.8M | $-328.0M | ||
| Q1 25 | $-58.5M | $-280.0M | ||
| Q4 24 | $833.5M | $-349.0M | ||
| Q3 24 | $186.5M | $102.0M | ||
| Q2 24 | $85.9M | $96.0M | ||
| Q1 24 | $-192.5M | $-314.0M |
自由现金流率IPGPPL
| Q4 25 | — | -26.1% | ||
| Q3 25 | 7.2% | -8.0% | ||
| Q2 25 | -5.6% | -16.1% | ||
| Q1 25 | -2.9% | -11.0% | ||
| Q4 24 | 34.2% | -15.9% | ||
| Q3 24 | 8.3% | 4.9% | ||
| Q2 24 | 3.7% | 5.1% | ||
| Q1 24 | -8.8% | -13.6% |
资本支出强度IPGPPL
| Q4 25 | — | 49.5% | ||
| Q3 25 | 1.2% | 51.2% | ||
| Q2 25 | 1.2% | 45.6% | ||
| Q1 25 | 1.1% | 31.2% | ||
| Q4 24 | 1.4% | 39.3% | ||
| Q3 24 | 1.7% | 32.7% | ||
| Q2 24 | 1.5% | 35.8% | ||
| Q1 24 | 1.6% | 25.9% |
现金转化率IPGPPL
| Q4 25 | — | 2.06× | ||
| Q3 25 | 1.45× | 3.04× | ||
| Q2 25 | -0.59× | 3.29× | ||
| Q1 25 | — | 1.24× | ||
| Q4 24 | 2.52× | 2.89× | ||
| Q3 24 | 11.13× | 3.65× | ||
| Q2 24 | 0.56× | 4.03× | ||
| Q1 24 | -1.43× | 0.92× |
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% |
PPL
| Rhode Island Regulated | $539.0M | 23% |
| Other | $532.0M | 23% |
| Residential | $451.0M | 19% |
| Nonrelated Party | $425.0M | 18% |
| Transmission | $228.0M | 10% |
| Commercial | $117.0M | 5% |
| Wholesale Other | $23.0M | 1% |
| Industrial | $14.0M | 1% |
| Related Party | $13.0M | 1% |
| Wholesale Municipal | $6.0M | 0% |
