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埃培智集团（IPG）与罗致恒富（RHI）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罗致恒富的1.6倍（$2.1B vs $1.3B），埃培智集团同比增速更快（-4.8% vs -5.8%），罗致恒富自由现金流更多（$170.8M vs $153.6M），过去两年罗致恒富的营收复合增速更高（-6.1% 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。
罗致恒富是1948年成立的国际人力资源咨询机构，总部位于加利福尼亚州门洛帕克和圣拉蒙，是全球规模领先的会计与金融领域人才派遣服务商之一，在全球范围内设有超过345个办公点。
IPG vs RHI — 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
IPG
高出1.0%
-5.8%
自由现金流更多
RHI
多$17.2M
$153.6M
两年增速更快
RHI
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 | — |
| 毛利率 | — | 37.6% |
| 营业利润率 | 10.3% | 1.7% |
| 净利率 | 5.8% | — |
| 营收同比 | -4.8% | -5.8% |
| 净利润同比 | 517.9% | — |
| 每股收益（稀释后） | $0.34 | $0.32 |
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IPGRHI
| Q4 25 | — | $1.3B | ||
| Q3 25 | $2.1B | $1.4B | ||
| Q2 25 | $2.2B | $1.4B | ||
| Q1 25 | $2.0B | $1.4B | ||
| Q4 24 | $2.4B | $1.4B | ||
| Q3 24 | $2.2B | $1.5B | ||
| Q2 24 | $2.3B | $1.5B | ||
| Q1 24 | $2.2B | $1.5B |
净利润IPGRHI
| Q4 25 | — | — | ||
| Q3 25 | $124.2M | $42.9M | ||
| Q2 25 | $162.5M | $41.0M | ||
| Q1 25 | $-85.4M | $17.4M | ||
| Q4 24 | $344.5M | — | ||
| Q3 24 | $20.1M | $65.5M | ||
| Q2 24 | $214.5M | $68.2M | ||
| Q1 24 | $110.4M | $63.7M |
毛利率IPGRHI
| Q4 25 | — | 37.6% | ||
| Q3 25 | — | 37.2% | ||
| Q2 25 | — | 37.2% | ||
| Q1 25 | -3.2% | 36.9% | ||
| Q4 24 | 10.1% | 38.8% | ||
| Q3 24 | 2.9% | 39.0% | ||
| Q2 24 | 1.2% | 39.2% | ||
| Q1 24 | -1.1% | 38.1% |
营业利润率IPGRHI
| Q4 25 | — | 1.7% | ||
| Q3 25 | 10.3% | 1.0% | ||
| Q2 25 | 11.2% | 0.1% | ||
| Q1 25 | -2.1% | 2.9% | ||
| Q4 24 | 23.3% | 4.7% | ||
| Q3 24 | 5.9% | 4.1% | ||
| Q2 24 | 13.7% | 5.1% | ||
| Q1 24 | 8.4% | 2.8% |
净利率IPGRHI
| Q4 25 | — | — | ||
| Q3 25 | 5.8% | 3.2% | ||
| Q2 25 | 7.5% | 3.0% | ||
| Q1 25 | -4.3% | 1.3% | ||
| Q4 24 | 14.1% | — | ||
| Q3 24 | 0.9% | 4.5% | ||
| Q2 24 | 9.2% | 4.6% | ||
| Q1 24 | 5.1% | 4.3% |
每股收益（稀释后）IPGRHI
| Q4 25 | — | $0.32 | ||
| Q3 25 | $0.34 | $0.43 | ||
| Q2 25 | $0.44 | $0.41 | ||
| Q1 25 | $-0.23 | $0.17 | ||
| Q4 24 | $0.92 | $0.53 | ||
| Q3 24 | $0.05 | $0.64 | ||
| Q2 24 | $0.57 | $0.66 | ||
| Q1 24 | $0.29 | $0.61 |
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 | $464.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.7B | $1.3B |
| 总资产 | $17.0B | $2.9B |
| 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IPGRHI
| Q4 25 | — | $464.4M | ||
| Q3 25 | $1.5B | $365.3M | ||
| Q2 25 | $1.6B | $380.5M | ||
| Q1 25 | $1.9B | $342.5M | ||
| Q4 24 | $2.2B | $537.6M | ||
| Q3 24 | $1.5B | $570.5M | ||
| Q2 24 | $1.5B | $547.4M | ||
| Q1 24 | $1.9B | $540.9M |
股东权益IPGRHI
| Q4 25 | — | $1.3B | ||
| Q3 25 | $3.7B | $1.3B | ||
| Q2 25 | $3.7B | $1.3B | ||
| Q1 25 | $3.6B | $1.3B | ||
| Q4 24 | $3.8B | $1.4B | ||
| Q3 24 | $3.7B | $1.5B | ||
| Q2 24 | $3.8B | $1.5B | ||
| Q1 24 | $3.8B | $1.5B |
总资产IPGRHI
| Q4 25 | — | $2.9B | ||
| Q3 25 | $17.0B | $2.8B | ||
| Q2 25 | $17.0B | $2.8B | ||
| Q1 25 | $17.1B | $2.7B | ||
| Q4 24 | $18.3B | $2.9B | ||
| Q3 24 | $17.1B | $3.0B | ||
| Q2 24 | $17.0B | $2.9B | ||
| Q1 24 | $17.3B | $2.9B |
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 | $182.5M |
| 自由现金流经营现金流 - 资本支出 | $153.6M | $170.8M |
| 自由现金流率自由现金流/营收 | 7.2% | 13.1% |
| 资本支出强度资本支出/营收 | 1.2% | 0.9% |
| 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 | $266.8M |
8季度趋势，按日历期对齐
经营现金流IPGRHI
| Q4 25 | — | $182.5M | ||
| Q3 25 | $180.1M | $77.4M | ||
| Q2 25 | $-96.0M | $119.4M | ||
| Q1 25 | $-37.0M | $-59.3M | ||
| Q4 24 | $868.1M | $154.8M | ||
| Q3 24 | $223.8M | $129.6M | ||
| Q2 24 | $120.7M | $142.0M | ||
| Q1 24 | $-157.4M | $-15.9M |
自由现金流IPGRHI
| Q4 25 | — | $170.8M | ||
| Q3 25 | $153.6M | $63.6M | ||
| Q2 25 | $-121.8M | $104.2M | ||
| Q1 25 | $-58.5M | $-71.7M | ||
| Q4 24 | $833.5M | $140.5M | ||
| Q3 24 | $186.5M | $111.8M | ||
| Q2 24 | $85.9M | $129.6M | ||
| Q1 24 | $-192.5M | $-27.7M |
自由现金流率IPGRHI
| Q4 25 | — | 13.1% | ||
| Q3 25 | 7.2% | 4.7% | ||
| Q2 25 | -5.6% | 7.6% | ||
| Q1 25 | -2.9% | -5.3% | ||
| Q4 24 | 34.2% | 10.2% | ||
| Q3 24 | 8.3% | 7.6% | ||
| Q2 24 | 3.7% | 8.8% | ||
| Q1 24 | -8.8% | -1.9% |
资本支出强度IPGRHI
| Q4 25 | — | 0.9% | ||
| Q3 25 | 1.2% | 1.0% | ||
| Q2 25 | 1.2% | 1.1% | ||
| Q1 25 | 1.1% | 0.9% | ||
| Q4 24 | 1.4% | 1.0% | ||
| Q3 24 | 1.7% | 1.2% | ||
| Q2 24 | 1.5% | 0.8% | ||
| Q1 24 | 1.6% | 0.8% |
现金转化率IPGRHI
| Q4 25 | — | — | ||
| Q3 25 | 1.45× | 1.80× | ||
| Q2 25 | -0.59× | 2.91× | ||
| Q1 25 | — | -3.42× | ||
| Q4 24 | 2.52× | — | ||
| Q3 24 | 11.13× | 1.98× | ||
| Q2 24 | 0.56× | 2.08× | ||
| Q1 24 | -1.43× | -0.25× |
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% |
RHI
| Finance And Accounting | $535.2M | 41% |
| Protiviti | $479.0M | 37% |
| Technology | $156.4M | 12% |
| Permanent Placement Talent Solutions | $102.6M | 8% |
| Other | $29.2M | 2% |
