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埃培智集团（IPG）与Rivian Automotive, Inc.（RIVN）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Rivian Automotive, Inc.的1.7倍（$2.1B vs $1.3B），埃培智集团净利率更高（5.8% vs -63.1%，领先68.9%），埃培智集团同比增速更快（-4.8% vs -25.8%），埃培智集团自由现金流更多（$153.6M vs $-1.1B），过去两年Rivian Automotive, Inc.的营收复合增速更高（3.3% 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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
IPG vs RIVN — 直观对比
营收规模更大
IPG
是对方的1.7倍
$1.3B
营收增速更快
IPG
高出21.1%
-25.8%
净利率更高
IPG
高出68.9%
-63.1%
自由现金流更多
IPG
多$1.3B
$-1.1B
两年增速更快
RIVN
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 | $-811.0M |
| 毛利率 | — | 9.3% |
| 营业利润率 | 10.3% | -64.8% |
| 净利率 | 5.8% | -63.1% |
| 营收同比 | -4.8% | -25.8% |
| 净利润同比 | 517.9% | -9.0% |
| 每股收益（稀释后） | $0.34 | $-0.66 |
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IPGRIVN
| Q4 25 | — | $1.3B | ||
| Q3 25 | $2.1B | $1.6B | ||
| Q2 25 | $2.2B | $1.3B | ||
| Q1 25 | $2.0B | $1.2B | ||
| Q4 24 | $2.4B | $1.7B | ||
| Q3 24 | $2.2B | $874.0M | ||
| Q2 24 | $2.3B | $1.2B | ||
| Q1 24 | $2.2B | $1.2B |
净利润IPGRIVN
| Q4 25 | — | $-811.0M | ||
| Q3 25 | $124.2M | $-1.2B | ||
| Q2 25 | $162.5M | $-1.1B | ||
| Q1 25 | $-85.4M | $-545.0M | ||
| Q4 24 | $344.5M | $-744.0M | ||
| Q3 24 | $20.1M | $-1.1B | ||
| Q2 24 | $214.5M | $-1.5B | ||
| Q1 24 | $110.4M | $-1.4B |
毛利率IPGRIVN
| Q4 25 | — | 9.3% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | -15.8% | ||
| Q1 25 | -3.2% | 16.6% | ||
| Q4 24 | 10.1% | 9.8% | ||
| Q3 24 | 2.9% | -44.9% | ||
| Q2 24 | 1.2% | -38.9% | ||
| Q1 24 | -1.1% | -43.8% |
营业利润率IPGRIVN
| Q4 25 | — | -64.8% | ||
| Q3 25 | 10.3% | -63.1% | ||
| Q2 25 | 11.2% | -85.5% | ||
| Q1 25 | -2.1% | -52.8% | ||
| Q4 24 | 23.3% | -38.1% | ||
| Q3 24 | 5.9% | -133.8% | ||
| Q2 24 | 13.7% | -118.7% | ||
| Q1 24 | 8.4% | -123.3% |
净利率IPGRIVN
| Q4 25 | — | -63.1% | ||
| Q3 25 | 5.8% | -75.3% | ||
| Q2 25 | 7.5% | -85.7% | ||
| Q1 25 | -4.3% | -44.0% | ||
| Q4 24 | 14.1% | -42.9% | ||
| Q3 24 | 0.9% | -125.9% | ||
| Q2 24 | 9.2% | -125.8% | ||
| Q1 24 | 5.1% | -120.1% |
每股收益（稀释后）IPGRIVN
| Q4 25 | — | $-0.66 | ||
| Q3 25 | $0.34 | $-0.96 | ||
| Q2 25 | $0.44 | $-0.97 | ||
| Q1 25 | $-0.23 | $-0.48 | ||
| Q4 24 | $0.92 | $-0.67 | ||
| Q3 24 | $0.05 | $-1.08 | ||
| Q2 24 | $0.57 | $-1.46 | ||
| Q1 24 | $0.29 | $-1.48 |
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 | $6.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.7B | $4.6B |
| 总资产 | $17.0B | $14.9B |
| 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IPGRIVN
| Q4 25 | — | $6.1B | ||
| Q3 25 | $1.5B | $7.1B | ||
| Q2 25 | $1.6B | $7.5B | ||
| Q1 25 | $1.9B | $7.2B | ||
| Q4 24 | $2.2B | $7.7B | ||
| Q3 24 | $1.5B | $6.7B | ||
| Q2 24 | $1.5B | $7.9B | ||
| Q1 24 | $1.9B | $7.9B |
总债务IPGRIVN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $5.5B | ||
| Q1 24 | — | $4.4B |
股东权益IPGRIVN
| Q4 25 | — | $4.6B | ||
| Q3 25 | $3.7B | $5.1B | ||
| Q2 25 | $3.7B | $6.1B | ||
| Q1 25 | $3.6B | $6.2B | ||
| Q4 24 | $3.8B | $6.6B | ||
| Q3 24 | $3.7B | $5.9B | ||
| Q2 24 | $3.8B | $6.8B | ||
| Q1 24 | $3.8B | $8.1B |
总资产IPGRIVN
| Q4 25 | — | $14.9B | ||
| Q3 25 | $17.0B | $15.2B | ||
| Q2 25 | $17.0B | $15.6B | ||
| Q1 25 | $17.1B | $15.5B | ||
| Q4 24 | $18.3B | $15.4B | ||
| Q3 24 | $17.1B | $14.3B | ||
| Q2 24 | $17.0B | $15.4B | ||
| Q1 24 | $17.3B | $15.7B |
负债/权益比IPGRIVN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | — | 0.55× |
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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $153.6M | $-1.1B |
| 自由现金流率自由现金流/营收 | 7.2% | -89.0% |
| 资本支出强度资本支出/营收 | 1.2% | 36.0% |
| 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 | $-2.5B |
8季度趋势，按日历期对齐
经营现金流IPGRIVN
| Q4 25 | — | $-681.0M | ||
| Q3 25 | $180.1M | $26.0M | ||
| Q2 25 | $-96.0M | $64.0M | ||
| Q1 25 | $-37.0M | $-188.0M | ||
| Q4 24 | $868.1M | $1.2B | ||
| Q3 24 | $223.8M | $-876.0M | ||
| Q2 24 | $120.7M | $-754.0M | ||
| Q1 24 | $-157.4M | $-1.3B |
自由现金流IPGRIVN
| Q4 25 | — | $-1.1B | ||
| Q3 25 | $153.6M | $-421.0M | ||
| Q2 25 | $-121.8M | $-398.0M | ||
| Q1 25 | $-58.5M | $-526.0M | ||
| Q4 24 | $833.5M | $856.0M | ||
| Q3 24 | $186.5M | $-1.2B | ||
| Q2 24 | $85.9M | $-1.0B | ||
| Q1 24 | $-192.5M | $-1.5B |
自由现金流率IPGRIVN
| Q4 25 | — | -89.0% | ||
| Q3 25 | 7.2% | -27.0% | ||
| Q2 25 | -5.6% | -30.5% | ||
| Q1 25 | -2.9% | -42.4% | ||
| Q4 24 | 34.2% | 49.4% | ||
| Q3 24 | 8.3% | -131.9% | ||
| Q2 24 | 3.7% | -89.6% | ||
| Q1 24 | -8.8% | -126.5% |
资本支出强度IPGRIVN
| Q4 25 | — | 36.0% | ||
| Q3 25 | 1.2% | 28.7% | ||
| Q2 25 | 1.2% | 35.5% | ||
| Q1 25 | 1.1% | 27.3% | ||
| Q4 24 | 1.4% | 18.9% | ||
| Q3 24 | 1.7% | 31.7% | ||
| Q2 24 | 1.5% | 24.4% | ||
| Q1 24 | 1.6% | 21.1% |
现金转化率IPGRIVN
| Q4 25 | — | — | ||
| Q3 25 | 1.45× | — | ||
| Q2 25 | -0.59× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.52× | — | ||
| Q3 24 | 11.13× | — | ||
| Q2 24 | 0.56× | — | ||
| 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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
