vs
埃培智集团（IPG）与瑞思迈（RMD）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瑞思迈的1.5倍（$2.1B vs $1.4B），瑞思迈净利率更高（27.6% vs 5.8%，领先21.8%），瑞思迈同比增速更快（11.0% vs -4.8%），瑞思迈自由现金流更多（$311.2M vs $153.6M），过去两年瑞思迈的营收复合增速更高（9.0% 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。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
IPG vs RMD — 直观对比
营收规模更大
IPG
是对方的1.5倍
$1.4B
营收增速更快
RMD
高出15.8%
-4.8%
净利率更高
RMD
高出21.8%
5.8%
自由现金流更多
RMD
多$157.6M
$153.6M
两年增速更快
RMD
近两年复合增速
-9.1%
损益表 — Q3 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.4B |
| 净利润 | $124.2M | $392.6M |
| 毛利率 | — | 61.8% |
| 营业利润率 | 10.3% | 34.6% |
| 净利率 | 5.8% | 27.6% |
| 营收同比 | -4.8% | 11.0% |
| 净利润同比 | 517.9% | 13.9% |
| 每股收益（稀释后） | $0.34 | $2.68 |
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IPGRMD
| Q4 25 | — | $1.4B | ||
| Q3 25 | $2.1B | $1.3B | ||
| Q2 25 | $2.2B | $1.3B | ||
| Q1 25 | $2.0B | $1.3B | ||
| Q4 24 | $2.4B | $1.3B | ||
| Q3 24 | $2.2B | $1.2B | ||
| Q2 24 | $2.3B | $1.2B | ||
| Q1 24 | $2.2B | $1.2B |
净利润IPGRMD
| Q4 25 | — | $392.6M | ||
| Q3 25 | $124.2M | $348.5M | ||
| Q2 25 | $162.5M | $379.7M | ||
| Q1 25 | $-85.4M | $365.0M | ||
| Q4 24 | $344.5M | $344.6M | ||
| Q3 24 | $20.1M | $311.4M | ||
| Q2 24 | $214.5M | $292.2M | ||
| Q1 24 | $110.4M | $300.5M |
毛利率IPGRMD
| Q4 25 | — | 61.8% | ||
| Q3 25 | — | 61.5% | ||
| Q2 25 | — | 60.8% | ||
| Q1 25 | -3.2% | 59.3% | ||
| Q4 24 | 10.1% | 58.6% | ||
| Q3 24 | 2.9% | 58.6% | ||
| Q2 24 | 1.2% | 58.5% | ||
| Q1 24 | -1.1% | 57.9% |
营业利润率IPGRMD
| Q4 25 | — | 34.6% | ||
| Q3 25 | 10.3% | 33.4% | ||
| Q2 25 | 11.2% | 33.7% | ||
| Q1 25 | -2.1% | 33.0% | ||
| Q4 24 | 23.3% | 32.5% | ||
| Q3 24 | 5.9% | 31.6% | ||
| Q2 24 | 13.7% | 31.2% | ||
| Q1 24 | 8.4% | 31.3% |
净利率IPGRMD
| Q4 25 | — | 27.6% | ||
| Q3 25 | 5.8% | 26.1% | ||
| Q2 25 | 7.5% | 28.2% | ||
| Q1 25 | -4.3% | 28.3% | ||
| Q4 24 | 14.1% | 26.9% | ||
| Q3 24 | 0.9% | 25.4% | ||
| Q2 24 | 9.2% | 23.9% | ||
| Q1 24 | 5.1% | 25.1% |
每股收益（稀释后）IPGRMD
| Q4 25 | — | $2.68 | ||
| Q3 25 | $0.34 | $2.37 | ||
| Q2 25 | $0.44 | $2.58 | ||
| Q1 25 | $-0.23 | $2.48 | ||
| Q4 24 | $0.92 | $2.34 | ||
| Q3 24 | $0.05 | $2.11 | ||
| Q2 24 | $0.57 | $1.97 | ||
| Q1 24 | $0.29 | $2.04 |
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 | $1.4B |
| 总债务越低越好 | — | $403.9M |
| 股东权益账面价值 | $3.7B | $6.3B |
| 总资产 | $17.0B | $8.5B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资IPGRMD
| Q4 25 | — | $1.4B | ||
| Q3 25 | $1.5B | $1.4B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $1.9B | $932.7M | ||
| Q4 24 | $2.2B | $521.9M | ||
| Q3 24 | $1.5B | $426.4M | ||
| Q2 24 | $1.5B | $238.4M | ||
| Q1 24 | $1.9B | $237.9M |
总债务IPGRMD
| Q4 25 | — | $403.9M | ||
| Q3 25 | — | $408.7M | ||
| Q2 25 | — | $658.4M | ||
| Q1 25 | — | $663.1M | ||
| Q4 24 | — | $662.9M | ||
| Q3 24 | — | $667.6M | ||
| Q2 24 | — | $697.3M | ||
| Q1 24 | — | $997.0M |
股东权益IPGRMD
| Q4 25 | — | $6.3B | ||
| Q3 25 | $3.7B | $6.1B | ||
| Q2 25 | $3.7B | $6.0B | ||
| Q1 25 | $3.6B | $5.5B | ||
| Q4 24 | $3.8B | $5.3B | ||
| Q3 24 | $3.7B | $5.2B | ||
| Q2 24 | $3.8B | $4.9B | ||
| Q1 24 | $3.8B | $4.6B |
总资产IPGRMD
| Q4 25 | — | $8.5B | ||
| Q3 25 | $17.0B | $8.3B | ||
| Q2 25 | $17.0B | $8.2B | ||
| Q1 25 | $17.1B | $7.6B | ||
| Q4 24 | $18.3B | $7.1B | ||
| Q3 24 | $17.1B | $7.2B | ||
| Q2 24 | $17.0B | $6.9B | ||
| Q1 24 | $17.3B | $6.8B |
负债/权益比IPGRMD
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.12× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.22× |
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 | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $153.6M | $311.2M |
| 自由现金流率自由现金流/营收 | 7.2% | 21.9% |
| 资本支出强度资本支出/营收 | 1.2% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.45× | 0.87× |
| 过去12个月自由现金流最近4个季度 | $806.8M | $1.8B |
8季度趋势，按日历期对齐
经营现金流IPGRMD
| Q4 25 | — | $339.7M | ||
| Q3 25 | $180.1M | $457.3M | ||
| Q2 25 | $-96.0M | $538.8M | ||
| Q1 25 | $-37.0M | $578.7M | ||
| Q4 24 | $868.1M | $308.6M | ||
| Q3 24 | $223.8M | $325.5M | ||
| Q2 24 | $120.7M | $440.1M | ||
| Q1 24 | $-157.4M | $402.0M |
自由现金流IPGRMD
| Q4 25 | — | $311.2M | ||
| Q3 25 | $153.6M | $414.4M | ||
| Q2 25 | $-121.8M | $508.2M | ||
| Q1 25 | $-58.5M | $557.9M | ||
| Q4 24 | $833.5M | $288.0M | ||
| Q3 24 | $186.5M | $307.7M | ||
| Q2 24 | $85.9M | $415.2M | ||
| Q1 24 | $-192.5M | $380.8M |
自由现金流率IPGRMD
| Q4 25 | — | 21.9% | ||
| Q3 25 | 7.2% | 31.0% | ||
| Q2 25 | -5.6% | 37.7% | ||
| Q1 25 | -2.9% | 43.2% | ||
| Q4 24 | 34.2% | 22.5% | ||
| Q3 24 | 8.3% | 25.1% | ||
| Q2 24 | 3.7% | 33.9% | ||
| Q1 24 | -8.8% | 31.8% |
资本支出强度IPGRMD
| Q4 25 | — | 2.0% | ||
| Q3 25 | 1.2% | 3.2% | ||
| Q2 25 | 1.2% | 2.3% | ||
| Q1 25 | 1.1% | 1.6% | ||
| Q4 24 | 1.4% | 1.6% | ||
| Q3 24 | 1.7% | 1.5% | ||
| Q2 24 | 1.5% | 2.0% | ||
| Q1 24 | 1.6% | 1.8% |
现金转化率IPGRMD
| Q4 25 | — | 0.87× | ||
| Q3 25 | 1.45× | 1.31× | ||
| Q2 25 | -0.59× | 1.42× | ||
| Q1 25 | — | 1.59× | ||
| Q4 24 | 2.52× | 0.90× | ||
| Q3 24 | 11.13× | 1.05× | ||
| Q2 24 | 0.56× | 1.51× | ||
| Q1 24 | -1.43× | 1.34× |
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% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
