vs
埃培智集团（IPG）与Primoris Services Corp（PRIM）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Primoris Services Corp的1.1倍（$2.1B vs $1.9B），埃培智集团净利率更高（5.8% vs 2.8%，领先3.0%），Primoris Services Corp同比增速更快（6.7% vs -4.8%），埃培智集团自由现金流更多（$153.6M vs $121.1M），过去两年Primoris Services Corp的营收复合增速更高（14.7% 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。
Primoris Services Corp是总部位于美国的上市专业基建与工程建设企业，核心业务覆盖天然气管道、污水管网及供水管道建设领域，2014年入选《财富》1000强榜单，在北美能源及民生基建领域拥有丰富的项目运营经验。
IPG vs PRIM — 直观对比
营收规模更大
IPG
是对方的1.1倍
$1.9B
营收增速更快
PRIM
高出11.5%
-4.8%
净利率更高
IPG
高出3.0%
2.8%
自由现金流更多
IPG
多$32.5M
$121.1M
两年增速更快
PRIM
近两年复合增速
-9.1%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.9B |
| 净利润 | $124.2M | $51.7M |
| 毛利率 | — | 9.4% |
| 营业利润率 | 10.3% | 4.2% |
| 净利率 | 5.8% | 2.8% |
| 营收同比 | -4.8% | 6.7% |
| 净利润同比 | 517.9% | -4.2% |
| 每股收益（稀释后） | $0.34 | $0.94 |
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IPGPRIM
| Q4 25 | — | $1.9B | ||
| Q3 25 | $2.1B | $2.2B | ||
| Q2 25 | $2.2B | $1.9B | ||
| Q1 25 | $2.0B | $1.6B | ||
| Q4 24 | $2.4B | $1.7B | ||
| Q3 24 | $2.2B | $1.6B | ||
| Q2 24 | $2.3B | $1.6B | ||
| Q1 24 | $2.2B | $1.4B |
净利润IPGPRIM
| Q4 25 | — | $51.7M | ||
| Q3 25 | $124.2M | $94.6M | ||
| Q2 25 | $162.5M | $84.3M | ||
| Q1 25 | $-85.4M | $44.2M | ||
| Q4 24 | $344.5M | $54.0M | ||
| Q3 24 | $20.1M | $58.4M | ||
| Q2 24 | $214.5M | $49.5M | ||
| Q1 24 | $110.4M | $18.9M |
毛利率IPGPRIM
| Q4 25 | — | 9.4% | ||
| Q3 25 | — | 10.8% | ||
| Q2 25 | — | 12.3% | ||
| Q1 25 | -3.2% | 10.4% | ||
| Q4 24 | 10.1% | 10.6% | ||
| Q3 24 | 2.9% | 12.0% | ||
| Q2 24 | 1.2% | 11.9% | ||
| Q1 24 | -1.1% | 9.4% |
营业利润率IPGPRIM
| Q4 25 | — | 4.2% | ||
| Q3 25 | 10.3% | 6.3% | ||
| Q2 25 | 11.2% | 6.7% | ||
| Q1 25 | -2.1% | 4.3% | ||
| Q4 24 | 23.3% | 5.0% | ||
| Q3 24 | 5.9% | 6.0% | ||
| Q2 24 | 13.7% | 5.5% | ||
| Q1 24 | 8.4% | 3.1% |
净利率IPGPRIM
| Q4 25 | — | 2.8% | ||
| Q3 25 | 5.8% | 4.3% | ||
| Q2 25 | 7.5% | 4.5% | ||
| Q1 25 | -4.3% | 2.7% | ||
| Q4 24 | 14.1% | 3.1% | ||
| Q3 24 | 0.9% | 3.5% | ||
| Q2 24 | 9.2% | 3.2% | ||
| Q1 24 | 5.1% | 1.3% |
每股收益（稀释后）IPGPRIM
| Q4 25 | — | $0.94 | ||
| Q3 25 | $0.34 | $1.73 | ||
| Q2 25 | $0.44 | $1.54 | ||
| Q1 25 | $-0.23 | $0.81 | ||
| Q4 24 | $0.92 | $0.98 | ||
| Q3 24 | $0.05 | $1.07 | ||
| Q2 24 | $0.57 | $0.91 | ||
| Q1 24 | $0.29 | $0.35 |
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 | $535.5M |
| 总债务越低越好 | — | $469.9M |
| 股东权益账面价值 | $3.7B | $1.7B |
| 总资产 | $17.0B | $4.4B |
| 负债/权益比越低杠杆越低 | — | 0.28× |
8季度趋势，按日历期对齐
现金及短期投资IPGPRIM
| Q4 25 | — | $535.5M | ||
| Q3 25 | $1.5B | $431.4M | ||
| Q2 25 | $1.6B | $390.3M | ||
| Q1 25 | $1.9B | $351.6M | ||
| Q4 24 | $2.2B | $455.8M | ||
| Q3 24 | $1.5B | $352.7M | ||
| Q2 24 | $1.5B | $207.4M | ||
| Q1 24 | $1.9B | $177.6M |
总债务IPGPRIM
| Q4 25 | — | $469.9M | ||
| Q3 25 | — | $486.0M | ||
| Q2 25 | — | $603.1M | ||
| Q1 25 | — | $612.0M | ||
| Q4 24 | — | $734.8M | ||
| Q3 24 | — | $903.7M | ||
| Q2 24 | — | $933.0M | ||
| Q1 24 | — | $951.7M |
股东权益IPGPRIM
| Q4 25 | — | $1.7B | ||
| Q3 25 | $3.7B | $1.6B | ||
| Q2 25 | $3.7B | $1.5B | ||
| Q1 25 | $3.6B | $1.4B | ||
| Q4 24 | $3.8B | $1.4B | ||
| Q3 24 | $3.7B | $1.4B | ||
| Q2 24 | $3.8B | $1.3B | ||
| Q1 24 | $3.8B | $1.2B |
总资产IPGPRIM
| Q4 25 | — | $4.4B | ||
| Q3 25 | $17.0B | $4.6B | ||
| Q2 25 | $17.0B | $4.5B | ||
| Q1 25 | $17.1B | $4.2B | ||
| Q4 24 | $18.3B | $4.2B | ||
| Q3 24 | $17.1B | $4.2B | ||
| Q2 24 | $17.0B | $4.0B | ||
| Q1 24 | $17.3B | $4.0B |
负债/权益比IPGPRIM
| Q4 25 | — | 0.28× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 0.39× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.72× | ||
| Q1 24 | — | 0.76× |
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 | $142.9M |
| 自由现金流经营现金流 - 资本支出 | $153.6M | $121.1M |
| 自由现金流率自由现金流/营收 | 7.2% | 6.5% |
| 资本支出强度资本支出/营收 | 1.2% | 1.2% |
| 现金转化率经营现金流/净利润 | 1.45× | 2.76× |
| 过去12个月自由现金流最近4个季度 | $806.8M | $340.5M |
8季度趋势，按日历期对齐
经营现金流IPGPRIM
| Q4 25 | — | $142.9M | ||
| Q3 25 | $180.1M | $182.9M | ||
| Q2 25 | $-96.0M | $78.5M | ||
| Q1 25 | $-37.0M | $66.2M | ||
| Q4 24 | $868.1M | $298.3M | ||
| Q3 24 | $223.8M | $222.5M | ||
| Q2 24 | $120.7M | $16.1M | ||
| Q1 24 | $-157.4M | $-28.5M |
自由现金流IPGPRIM
| Q4 25 | — | $121.1M | ||
| Q3 25 | $153.6M | $148.4M | ||
| Q2 25 | $-121.8M | $45.3M | ||
| Q1 25 | $-58.5M | $25.6M | ||
| Q4 24 | $833.5M | $270.0M | ||
| Q3 24 | $186.5M | $158.8M | ||
| Q2 24 | $85.9M | $-8.1M | ||
| Q1 24 | $-192.5M | $-38.9M |
自由现金流率IPGPRIM
| Q4 25 | — | 6.5% | ||
| Q3 25 | 7.2% | 6.8% | ||
| Q2 25 | -5.6% | 2.4% | ||
| Q1 25 | -2.9% | 1.6% | ||
| Q4 24 | 34.2% | 15.5% | ||
| Q3 24 | 8.3% | 9.6% | ||
| Q2 24 | 3.7% | -0.5% | ||
| Q1 24 | -8.8% | -2.8% |
资本支出强度IPGPRIM
| Q4 25 | — | 1.2% | ||
| Q3 25 | 1.2% | 1.6% | ||
| Q2 25 | 1.2% | 1.8% | ||
| Q1 25 | 1.1% | 2.5% | ||
| Q4 24 | 1.4% | 1.6% | ||
| Q3 24 | 1.7% | 3.9% | ||
| Q2 24 | 1.5% | 1.5% | ||
| Q1 24 | 1.6% | 0.7% |
现金转化率IPGPRIM
| Q4 25 | — | 2.76× | ||
| Q3 25 | 1.45× | 1.93× | ||
| Q2 25 | -0.59× | 0.93× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | 2.52× | 5.53× | ||
| Q3 24 | 11.13× | 3.81× | ||
| Q2 24 | 0.56× | 0.32× | ||
| Q1 24 | -1.43× | -1.50× |
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% |
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
