vs
埃培智集团（IPG）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是埃培智集团的2.0倍（$4.3B vs $2.1B），皇家加勒比集团净利率更高（17.9% vs 5.8%，领先12.1%），皇家加勒比集团同比增速更快（13.2% vs -4.8%），过去两年皇家加勒比集团的营收复合增速更高（1.8% 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。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
IPG vs RCL — 直观对比
营收规模更大
RCL
是对方的2.0倍
$2.1B
营收增速更快
RCL
高出18.0%
-4.8%
净利率更高
RCL
高出12.1%
5.8%
两年增速更快
RCL
近两年复合增速
-9.1%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $4.3B |
| 净利润 | $124.2M | $762.0M |
| 毛利率 | — | — |
| 营业利润率 | 10.3% | 21.9% |
| 净利率 | 5.8% | 17.9% |
| 营收同比 | -4.8% | 13.2% |
| 净利润同比 | 517.9% | 36.3% |
| 每股收益（稀释后） | $0.34 | $2.76 |
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IPGRCL
| Q1 26 | — | $4.3B | ||
| Q4 25 | — | $4.3B | ||
| Q3 25 | $2.1B | $5.1B | ||
| Q2 25 | $2.2B | $4.5B | ||
| Q1 25 | $2.0B | $4.0B | ||
| Q4 24 | $2.4B | $3.8B | ||
| Q3 24 | $2.2B | $4.9B | ||
| Q2 24 | $2.3B | $4.1B |
净利润IPGRCL
| Q1 26 | — | $762.0M | ||
| Q4 25 | — | $753.0M | ||
| Q3 25 | $124.2M | $1.6B | ||
| Q2 25 | $162.5M | $1.2B | ||
| Q1 25 | $-85.4M | $730.0M | ||
| Q4 24 | $344.5M | $552.0M | ||
| Q3 24 | $20.1M | $1.1B | ||
| Q2 24 | $214.5M | $854.0M |
毛利率IPGRCL
| Q1 26 | — | — | ||
| Q4 25 | — | 47.4% | ||
| Q3 25 | — | 51.8% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | -3.2% | 48.0% | ||
| Q4 24 | 10.1% | 45.4% | ||
| Q3 24 | 2.9% | 51.1% | ||
| Q2 24 | 1.2% | 47.6% |
营业利润率IPGRCL
| Q1 26 | — | 21.9% | ||
| Q4 25 | — | 21.9% | ||
| Q3 25 | 10.3% | 33.1% | ||
| Q2 25 | 11.2% | 29.3% | ||
| Q1 25 | -2.1% | 23.6% | ||
| Q4 24 | 23.3% | 16.6% | ||
| Q3 24 | 5.9% | 33.4% | ||
| Q2 24 | 13.7% | 26.7% |
净利率IPGRCL
| Q1 26 | — | 17.9% | ||
| Q4 25 | — | 17.7% | ||
| Q3 25 | 5.8% | 30.6% | ||
| Q2 25 | 7.5% | 26.7% | ||
| Q1 25 | -4.3% | 18.3% | ||
| Q4 24 | 14.1% | 14.7% | ||
| Q3 24 | 0.9% | 22.7% | ||
| Q2 24 | 9.2% | 20.8% |
每股收益（稀释后）IPGRCL
| Q1 26 | — | $2.76 | ||
| Q4 25 | — | $2.76 | ||
| Q3 25 | $0.34 | $5.74 | ||
| Q2 25 | $0.44 | $4.41 | ||
| Q1 25 | $-0.23 | $2.70 | ||
| Q4 24 | $0.92 | $2.27 | ||
| Q3 24 | $0.05 | $4.21 | ||
| Q2 24 | $0.57 | $3.11 |
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 | $825.0M |
| 总债务越低越好 | — | $21.3B |
| 股东权益账面价值 | $3.7B | $10.2B |
| 总资产 | $17.0B | $41.6B |
| 负债/权益比越低杠杆越低 | — | 2.08× |
8季度趋势，按日历期对齐
现金及短期投资IPGRCL
| Q1 26 | — | $825.0M | ||
| Q4 25 | — | $825.0M | ||
| Q3 25 | $1.5B | $432.0M | ||
| Q2 25 | $1.6B | $735.0M | ||
| Q1 25 | $1.9B | $386.0M | ||
| Q4 24 | $2.2B | $388.0M | ||
| Q3 24 | $1.5B | $418.0M | ||
| Q2 24 | $1.5B | $391.0M |
总债务IPGRCL
| Q1 26 | — | $21.3B | ||
| Q4 25 | — | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B |
股东权益IPGRCL
| Q1 26 | — | $10.2B | ||
| Q4 25 | — | $10.0B | ||
| Q3 25 | $3.7B | $10.1B | ||
| Q2 25 | $3.7B | $9.2B | ||
| Q1 25 | $3.6B | $8.0B | ||
| Q4 24 | $3.8B | $7.6B | ||
| Q3 24 | $3.7B | $7.0B | ||
| Q2 24 | $3.8B | $6.0B |
总资产IPGRCL
| Q1 26 | — | $41.6B | ||
| Q4 25 | — | $41.6B | ||
| Q3 25 | $17.0B | $40.1B | ||
| Q2 25 | $17.0B | $38.5B | ||
| Q1 25 | $17.1B | $37.5B | ||
| Q4 24 | $18.3B | $37.1B | ||
| Q3 24 | $17.1B | $37.1B | ||
| Q2 24 | $17.0B | $37.0B |
负债/权益比IPGRCL
| Q1 26 | — | 2.08× | ||
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× |
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 | $6.5B |
| 自由现金流经营现金流 - 资本支出 | $153.6M | — |
| 自由现金流率自由现金流/营收 | 7.2% | — |
| 资本支出强度资本支出/营收 | 1.2% | — |
| 现金转化率经营现金流/净利润 | 1.45× | 8.48× |
| 过去12个月自由现金流最近4个季度 | $806.8M | — |
8季度趋势，按日历期对齐
经营现金流IPGRCL
| Q1 26 | — | $6.5B | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | $180.1M | $1.5B | ||
| Q2 25 | $-96.0M | $1.7B | ||
| Q1 25 | $-37.0M | $1.6B | ||
| Q4 24 | $868.1M | $1.5B | ||
| Q3 24 | $223.8M | $897.0M | ||
| Q2 24 | $120.7M | $1.6B |
自由现金流IPGRCL
| Q1 26 | — | — | ||
| Q4 25 | — | $116.0M | ||
| Q3 25 | $153.6M | $-989.0M | ||
| Q2 25 | $-121.8M | $910.0M | ||
| Q1 25 | $-58.5M | $1.2B | ||
| Q4 24 | $833.5M | $915.0M | ||
| Q3 24 | $186.5M | $563.0M | ||
| Q2 24 | $85.9M | $-567.0M |
自由现金流率IPGRCL
| Q1 26 | — | — | ||
| Q4 25 | — | 2.7% | ||
| Q3 25 | 7.2% | -19.2% | ||
| Q2 25 | -5.6% | 20.1% | ||
| Q1 25 | -2.9% | 30.0% | ||
| Q4 24 | 34.2% | 24.3% | ||
| Q3 24 | 8.3% | 11.5% | ||
| Q2 24 | 3.7% | -13.8% |
资本支出强度IPGRCL
| Q1 26 | — | — | ||
| Q4 25 | — | 35.4% | ||
| Q3 25 | 1.2% | 47.8% | ||
| Q2 25 | 1.2% | 18.4% | ||
| Q1 25 | 1.1% | 10.7% | ||
| Q4 24 | 1.4% | 14.7% | ||
| Q3 24 | 1.7% | 6.8% | ||
| Q2 24 | 1.5% | 52.1% |
现金转化率IPGRCL
| Q1 26 | — | 8.48× | ||
| Q4 25 | — | 2.16× | ||
| Q3 25 | 1.45× | 0.93× | ||
| Q2 25 | -0.59× | 1.44× | ||
| Q1 25 | — | 2.23× | ||
| Q4 24 | 2.52× | 2.66× | ||
| Q3 24 | 11.13× | 0.81× | ||
| Q2 24 | 0.56× | 1.84× |
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% |
RCL
暂无分部数据
