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埃培智集团（IPG）与Ryerson Holding Corp（RYI）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Ryerson Holding Corp的1.9倍（$2.1B vs $1.1B），埃培智集团净利率更高（5.8% vs -3.4%，领先9.2%），Ryerson Holding Corp同比增速更快（9.7% vs -4.8%），埃培智集团自由现金流更多（$153.6M vs $91.9M），过去两年Ryerson Holding Corp的营收复合增速更高（-5.6% 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。
莱森控股集团旗下的约瑟夫·T·莱森父子公司是一家金属加工分销服务商，业务覆盖美国、墨西哥、加拿大与中国。公司创立于1842年，总部位于芝加哥，在全球约100个网点拥有约4200名员工，是金属流通领域资历深厚的专业服务商。
IPG vs RYI — 直观对比
营收规模更大
IPG
是对方的1.9倍
$1.1B
营收增速更快
RYI
高出14.4%
-4.8%
净利率更高
IPG
高出9.2%
-3.4%
自由现金流更多
IPG
多$61.7M
$91.9M
两年增速更快
RYI
近两年复合增速
-9.1%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.1B |
| 净利润 | $124.2M | $-37.9M |
| 毛利率 | — | 15.3% |
| 营业利润率 | 10.3% | -3.4% |
| 净利率 | 5.8% | -3.4% |
| 营收同比 | -4.8% | 9.7% |
| 净利润同比 | 517.9% | -781.4% |
| 每股收益（稀释后） | $0.34 | $-1.18 |
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IPGRYI
| Q4 25 | — | $1.1B | ||
| Q3 25 | $2.1B | $1.2B | ||
| Q2 25 | $2.2B | $1.2B | ||
| Q1 25 | $2.0B | $1.1B | ||
| Q4 24 | $2.4B | $1.0B | ||
| Q3 24 | $2.2B | $1.1B | ||
| Q2 24 | $2.3B | $1.2B | ||
| Q1 24 | $2.2B | $1.2B |
净利润IPGRYI
| Q4 25 | — | $-37.9M | ||
| Q3 25 | $124.2M | $-14.8M | ||
| Q2 25 | $162.5M | $1.9M | ||
| Q1 25 | $-85.4M | $-5.6M | ||
| Q4 24 | $344.5M | $-4.3M | ||
| Q3 24 | $20.1M | $-6.6M | ||
| Q2 24 | $214.5M | $9.9M | ||
| Q1 24 | $110.4M | $-7.6M |
毛利率IPGRYI
| Q4 25 | — | 15.3% | ||
| Q3 25 | — | 17.2% | ||
| Q2 25 | — | 17.9% | ||
| Q1 25 | -3.2% | 18.0% | ||
| Q4 24 | 10.1% | 19.0% | ||
| Q3 24 | 2.9% | 17.9% | ||
| Q2 24 | 1.2% | 18.2% | ||
| Q1 24 | -1.1% | 17.6% |
营业利润率IPGRYI
| Q4 25 | — | -3.4% | ||
| Q3 25 | 10.3% | -0.1% | ||
| Q2 25 | 11.2% | 0.5% | ||
| Q1 25 | -2.1% | 0.2% | ||
| Q4 24 | 23.3% | 0.3% | ||
| Q3 24 | 5.9% | 0.5% | ||
| Q2 24 | 13.7% | 1.9% | ||
| Q1 24 | 8.4% | 0.1% |
净利率IPGRYI
| Q4 25 | — | -3.4% | ||
| Q3 25 | 5.8% | -1.3% | ||
| Q2 25 | 7.5% | 0.2% | ||
| Q1 25 | -4.3% | -0.5% | ||
| Q4 24 | 14.1% | -0.4% | ||
| Q3 24 | 0.9% | -0.6% | ||
| Q2 24 | 9.2% | 0.8% | ||
| Q1 24 | 5.1% | -0.6% |
每股收益（稀释后）IPGRYI
| Q4 25 | — | $-1.18 | ||
| Q3 25 | $0.34 | $-0.46 | ||
| Q2 25 | $0.44 | $0.06 | ||
| Q1 25 | $-0.23 | $-0.18 | ||
| Q4 24 | $0.92 | $-0.13 | ||
| Q3 24 | $0.05 | $-0.20 | ||
| Q2 24 | $0.57 | $0.29 | ||
| Q1 24 | $0.29 | $-0.22 |
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 | $26.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.7B | $753.1M |
| 总资产 | $17.0B | $2.4B |
| 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IPGRYI
| Q4 25 | — | $26.9M | ||
| Q3 25 | $1.5B | $29.8M | ||
| Q2 25 | $1.6B | $30.8M | ||
| Q1 25 | $1.9B | $33.6M | ||
| Q4 24 | $2.2B | $27.7M | ||
| Q3 24 | $1.5B | $35.0M | ||
| Q2 24 | $1.5B | $28.0M | ||
| Q1 24 | $1.9B | $41.9M |
股东权益IPGRYI
| Q4 25 | — | $753.1M | ||
| Q3 25 | $3.7B | $787.3M | ||
| Q2 25 | $3.7B | $811.5M | ||
| Q1 25 | $3.6B | $803.9M | ||
| Q4 24 | $3.8B | $815.3M | ||
| Q3 24 | $3.7B | $832.9M | ||
| Q2 24 | $3.8B | $877.9M | ||
| Q1 24 | $3.8B | $888.5M |
总资产IPGRYI
| Q4 25 | — | $2.4B | ||
| Q3 25 | $17.0B | $2.5B | ||
| Q2 25 | $17.0B | $2.5B | ||
| Q1 25 | $17.1B | $2.5B | ||
| Q4 24 | $18.3B | $2.4B | ||
| Q3 24 | $17.1B | $2.5B | ||
| Q2 24 | $17.0B | $2.6B | ||
| Q1 24 | $17.3B | $2.7B |
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 | $112.7M |
| 自由现金流经营现金流 - 资本支出 | $153.6M | $91.9M |
| 自由现金流率自由现金流/营收 | 7.2% | 8.3% |
| 资本支出强度资本支出/营收 | 1.2% | 1.9% |
| 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 | $35.5M |
8季度趋势，按日历期对齐
经营现金流IPGRYI
| Q4 25 | — | $112.7M | ||
| Q3 25 | $180.1M | $-8.3M | ||
| Q2 25 | $-96.0M | $23.8M | ||
| Q1 25 | $-37.0M | $-41.2M | ||
| Q4 24 | $868.1M | $92.2M | ||
| Q3 24 | $223.8M | $134.6M | ||
| Q2 24 | $120.7M | $25.9M | ||
| Q1 24 | $-157.4M | $-47.8M |
自由现金流IPGRYI
| Q4 25 | — | $91.9M | ||
| Q3 25 | $153.6M | $-21.1M | ||
| Q2 25 | $-121.8M | $13.9M | ||
| Q1 25 | $-58.5M | $-49.2M | ||
| Q4 24 | $833.5M | $68.7M | ||
| Q3 24 | $186.5M | $103.0M | ||
| Q2 24 | $85.9M | $3.2M | ||
| Q1 24 | $-192.5M | $-69.6M |
自由现金流率IPGRYI
| Q4 25 | — | 8.3% | ||
| Q3 25 | 7.2% | -1.8% | ||
| Q2 25 | -5.6% | 1.2% | ||
| Q1 25 | -2.9% | -4.3% | ||
| Q4 24 | 34.2% | 6.8% | ||
| Q3 24 | 8.3% | 9.1% | ||
| Q2 24 | 3.7% | 0.3% | ||
| Q1 24 | -8.8% | -5.6% |
资本支出强度IPGRYI
| Q4 25 | — | 1.9% | ||
| Q3 25 | 1.2% | 1.1% | ||
| Q2 25 | 1.2% | 0.8% | ||
| Q1 25 | 1.1% | 0.7% | ||
| Q4 24 | 1.4% | 2.3% | ||
| Q3 24 | 1.7% | 2.8% | ||
| Q2 24 | 1.5% | 1.9% | ||
| Q1 24 | 1.6% | 1.8% |
现金转化率IPGRYI
| Q4 25 | — | — | ||
| Q3 25 | 1.45× | — | ||
| Q2 25 | -0.59× | 12.53× | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.52× | — | ||
| Q3 24 | 11.13× | — | ||
| Q2 24 | 0.56× | 2.62× | ||
| 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% |
RYI
| US | $988.3M | 89% |
| Non Us | $116.5M | 11% |
