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埃培智集团（IPG）与Rocket Companies, Inc.（RKT）财务数据对比。点击上方公司名可切换其他公司
Rocket Companies, Inc.的季度营收约是埃培智集团的1.3倍（$2.7B vs $2.1B），埃培智集团净利率更高（5.8% vs 2.5%，领先3.3%），Rocket Companies, Inc.同比增速更快（52.2% vs -4.8%），埃培智集团自由现金流更多（$153.6M vs $-1.3B），过去两年Rocket Companies, Inc.的营收复合增速更高（39.5% 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。
Rocket Companies, Inc.是美国金融科技及住房服务企业，由丹·吉尔伯特创立，总部位于密歇根州底特律市中心。公司依托旗舰子公司Rocket Mortgage跻身美国最大抵押贷款提供商行列，旗下还拥有Redfin、Forsalebyowner.com、Rocket Money等子品牌。
IPG vs RKT — 直观对比
营收规模更大
RKT
是对方的1.3倍
$2.1B
营收增速更快
RKT
高出56.9%
-4.8%
净利率更高
IPG
高出3.3%
2.5%
自由现金流更多
IPG
多$1.4B
$-1.3B
两年增速更快
RKT
近两年复合增速
-9.1%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.7B |
| 净利润 | $124.2M | $68.0M |
| 毛利率 | — | — |
| 营业利润率 | 10.3% | 6.3% |
| 净利率 | 5.8% | 2.5% |
| 营收同比 | -4.8% | 52.2% |
| 净利润同比 | 517.9% | 100.8% |
| 每股收益（稀释后） | $0.34 | $0.10 |
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IPGRKT
| Q4 25 | — | $2.7B | ||
| Q3 25 | $2.1B | $1.6B | ||
| Q2 25 | $2.2B | $1.4B | ||
| Q1 25 | $2.0B | $1.0B | ||
| Q4 24 | $2.4B | $1.8B | ||
| Q3 24 | $2.2B | $646.9M | ||
| Q2 24 | $2.3B | $1.3B | ||
| Q1 24 | $2.2B | $1.4B |
净利润IPGRKT
| Q4 25 | — | $68.0M | ||
| Q3 25 | $124.2M | $-123.9M | ||
| Q2 25 | $162.5M | $-1.8M | ||
| Q1 25 | $-85.4M | $-10.4M | ||
| Q4 24 | $344.5M | $33.9M | ||
| Q3 24 | $20.1M | $-22.0M | ||
| Q2 24 | $214.5M | $1.3M | ||
| Q1 24 | $110.4M | $16.2M |
毛利率IPGRKT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -3.2% | — | ||
| Q4 24 | 10.1% | 58.9% | ||
| Q3 24 | 2.9% | -8.4% | ||
| Q2 24 | 1.2% | 47.4% | ||
| Q1 24 | -1.1% | 51.2% |
营业利润率IPGRKT
| Q4 25 | — | 6.3% | ||
| Q3 25 | 10.3% | -11.5% | ||
| Q2 25 | 11.2% | 1.8% | ||
| Q1 25 | -2.1% | -21.5% | ||
| Q4 24 | 23.3% | 38.1% | ||
| Q3 24 | 5.9% | -76.9% | ||
| Q2 24 | 13.7% | 14.8% | ||
| Q1 24 | 8.4% | 21.6% |
净利率IPGRKT
| Q4 25 | — | 2.5% | ||
| Q3 25 | 5.8% | -7.7% | ||
| Q2 25 | 7.5% | -0.1% | ||
| Q1 25 | -4.3% | -1.0% | ||
| Q4 24 | 14.1% | 1.9% | ||
| Q3 24 | 0.9% | -3.4% | ||
| Q2 24 | 9.2% | 0.1% | ||
| Q1 24 | 5.1% | 1.2% |
每股收益（稀释后）IPGRKT
| Q4 25 | — | $0.10 | ||
| Q3 25 | $0.34 | $-0.06 | ||
| Q2 25 | $0.44 | $-0.01 | ||
| Q1 25 | $-0.23 | $-0.08 | ||
| Q4 24 | $0.92 | $0.28 | ||
| Q3 24 | $0.05 | $-0.19 | ||
| Q2 24 | $0.57 | $0.01 | ||
| Q1 24 | $0.29 | $0.11 |
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 | $2.7B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.7B | $22.9B |
| 总资产 | $17.0B | $60.7B |
| 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IPGRKT
| Q4 25 | — | $2.7B | ||
| Q3 25 | $1.5B | $5.8B | ||
| Q2 25 | $1.6B | $5.1B | ||
| Q1 25 | $1.9B | $1.4B | ||
| Q4 24 | $2.2B | $1.3B | ||
| Q3 24 | $1.5B | $1.2B | ||
| Q2 24 | $1.5B | $1.3B | ||
| Q1 24 | $1.9B | $861.4M |
股东权益IPGRKT
| Q4 25 | — | $22.9B | ||
| Q3 25 | $3.7B | $8.9B | ||
| Q2 25 | $3.7B | $7.4B | ||
| Q1 25 | $3.6B | $8.6B | ||
| Q4 24 | $3.8B | $9.0B | ||
| Q3 24 | $3.7B | $8.4B | ||
| Q2 24 | $3.8B | $8.8B | ||
| Q1 24 | $3.8B | $8.6B |
总资产IPGRKT
| Q4 25 | — | $60.7B | ||
| Q3 25 | $17.0B | $33.6B | ||
| Q2 25 | $17.0B | $30.4B | ||
| Q1 25 | $17.1B | $25.3B | ||
| Q4 24 | $18.3B | $24.5B | ||
| Q3 24 | $17.1B | $25.1B | ||
| Q2 24 | $17.0B | $23.6B | ||
| Q1 24 | $17.3B | $22.2B |
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 | $-1.2B |
| 自由现金流经营现金流 - 资本支出 | $153.6M | $-1.3B |
| 自由现金流率自由现金流/营收 | 7.2% | -47.2% |
| 资本支出强度资本支出/营收 | 1.2% | 1.5% |
| 现金转化率经营现金流/净利润 | 1.45× | -18.08× |
| 过去12个月自由现金流最近4个季度 | $806.8M | $-4.0B |
8季度趋势，按日历期对齐
经营现金流IPGRKT
| Q4 25 | — | $-1.2B | ||
| Q3 25 | $180.1M | $-50.3M | ||
| Q2 25 | $-96.0M | $-1.9B | ||
| Q1 25 | $-37.0M | $-797.0M | ||
| Q4 24 | $868.1M | $1.8B | ||
| Q3 24 | $223.8M | $-1.3B | ||
| Q2 24 | $120.7M | $-122.3M | ||
| Q1 24 | $-157.4M | $-3.0B |
自由现金流IPGRKT
| Q4 25 | — | $-1.3B | ||
| Q3 25 | $153.6M | $-71.8M | ||
| Q2 25 | $-121.8M | $-1.9B | ||
| Q1 25 | $-58.5M | $-811.0M | ||
| Q4 24 | $833.5M | $1.8B | ||
| Q3 24 | $186.5M | $-1.4B | ||
| Q2 24 | $85.9M | $-138.3M | ||
| Q1 24 | $-192.5M | $-3.0B |
自由现金流率IPGRKT
| Q4 25 | — | -47.2% | ||
| Q3 25 | 7.2% | -4.5% | ||
| Q2 25 | -5.6% | -137.2% | ||
| Q1 25 | -2.9% | -78.2% | ||
| Q4 24 | 34.2% | 103.1% | ||
| Q3 24 | 8.3% | -209.6% | ||
| Q2 24 | 3.7% | -10.6% | ||
| Q1 24 | -8.8% | -218.7% |
资本支出强度IPGRKT
| Q4 25 | — | 1.5% | ||
| Q3 25 | 1.2% | 1.3% | ||
| Q2 25 | 1.2% | 1.1% | ||
| Q1 25 | 1.1% | 1.4% | ||
| Q4 24 | 1.4% | 1.1% | ||
| Q3 24 | 1.7% | 2.9% | ||
| Q2 24 | 1.5% | 1.2% | ||
| Q1 24 | 1.6% | 1.0% |
现金转化率IPGRKT
| Q4 25 | — | -18.08× | ||
| Q3 25 | 1.45× | — | ||
| Q2 25 | -0.59× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.52× | 54.42× | ||
| Q3 24 | 11.13× | — | ||
| Q2 24 | 0.56× | -94.46× | ||
| Q1 24 | -1.43× | -185.80× |
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% |
RKT
| Other | $1.4B | 51% |
| Direct To Customer Segment | $945.8M | 35% |
| Partner Network Segment | $216.7M | 8% |
| Subscription Revenue | $91.3M | 3% |
| Closing Fees | $47.1M | 2% |
| Appraisal Revenue | $10.7M | 0% |
