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埃培智集团（IPG）与SEABOARD CORP（SEB）财务数据对比。点击上方公司名可切换其他公司
SEABOARD CORP的季度营收约是埃培智集团的1.1倍（$2.4B vs $2.1B），SEABOARD CORP净利率更高（10.6% vs 5.8%，领先4.8%），SEABOARD CORP同比增速更快（-2.9% vs -4.8%），埃培智集团自由现金流更多（$153.6M vs $53.0M），过去两年SEABOARD CORP的营收复合增速更高（4.9% 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。
Seaboard Corporation是一家多元化跨国农业综合及运输集团，业务覆盖多个垂直整合领域。美国本土核心业务包括生猪养殖加工与远洋运输，海外板块主营大宗商品贸易、谷物加工、食糖生产及发电，总部位于堪萨斯州梅里亚姆。
IPG vs SEB — 直观对比
营收规模更大
SEB
是对方的1.1倍
$2.1B
营收增速更快
SEB
高出1.9%
-4.8%
净利率更高
SEB
高出4.8%
5.8%
自由现金流更多
IPG
多$100.6M
$53.0M
两年增速更快
SEB
近两年复合增速
-9.1%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.4B |
| 净利润 | $124.2M | $255.0M |
| 毛利率 | — | 7.9% |
| 营业利润率 | 10.3% | 2.7% |
| 净利率 | 5.8% | 10.6% |
| 营收同比 | -4.8% | -2.9% |
| 净利润同比 | 517.9% | 63.5% |
| 每股收益（稀释后） | $0.34 | $262.58 |
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IPGSEB
| Q4 25 | — | $2.4B | ||
| Q3 25 | $2.1B | $2.5B | ||
| Q2 25 | $2.2B | $2.5B | ||
| Q1 25 | $2.0B | $2.3B | ||
| Q4 24 | $2.4B | $2.5B | ||
| Q3 24 | $2.2B | $2.2B | ||
| Q2 24 | $2.3B | $2.2B | ||
| Q1 24 | $2.2B | $2.2B |
净利润IPGSEB
| Q4 25 | — | $255.0M | ||
| Q3 25 | $124.2M | $110.0M | ||
| Q2 25 | $162.5M | $104.0M | ||
| Q1 25 | $-85.4M | $32.0M | ||
| Q4 24 | $344.5M | $156.0M | ||
| Q3 24 | $20.1M | $-149.0M | ||
| Q2 24 | $214.5M | $61.0M | ||
| Q1 24 | $110.4M | $22.0M |
毛利率IPGSEB
| Q4 25 | — | 7.9% | ||
| Q3 25 | — | 7.8% | ||
| Q2 25 | — | 6.5% | ||
| Q1 25 | -3.2% | 6.1% | ||
| Q4 24 | 10.1% | 9.0% | ||
| Q3 24 | 2.9% | 6.2% | ||
| Q2 24 | 1.2% | 5.8% | ||
| Q1 24 | -1.1% | 4.0% |
营业利润率IPGSEB
| Q4 25 | — | 2.7% | ||
| Q3 25 | 10.3% | 3.3% | ||
| Q2 25 | 11.2% | 2.1% | ||
| Q1 25 | -2.1% | 1.6% | ||
| Q4 24 | 23.3% | 4.6% | ||
| Q3 24 | 5.9% | 1.4% | ||
| Q2 24 | 13.7% | 1.4% | ||
| Q1 24 | 8.4% | -0.9% |
净利率IPGSEB
| Q4 25 | — | 10.6% | ||
| Q3 25 | 5.8% | 4.3% | ||
| Q2 25 | 7.5% | 4.2% | ||
| Q1 25 | -4.3% | 1.4% | ||
| Q4 24 | 14.1% | 6.3% | ||
| Q3 24 | 0.9% | -6.7% | ||
| Q2 24 | 9.2% | 2.8% | ||
| Q1 24 | 5.1% | 1.0% |
每股收益（稀释后）IPGSEB
| Q4 25 | — | $262.58 | ||
| Q3 25 | $0.34 | $113.71 | ||
| Q2 25 | $0.44 | $105.22 | ||
| Q1 25 | $-0.23 | $32.95 | ||
| Q4 24 | $0.92 | $158.58 | ||
| Q3 24 | $0.05 | $-153.44 | ||
| Q2 24 | $0.57 | $62.82 | ||
| Q1 24 | $0.29 | $22.66 |
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 | $1.2B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.7B | $5.2B |
| 总资产 | $17.0B | $8.2B |
| 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IPGSEB
| Q4 25 | — | $1.2B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | $1.6B | $1.1B | ||
| Q1 25 | $1.9B | $1.1B | ||
| Q4 24 | $2.2B | $1.2B | ||
| Q3 24 | $1.5B | $1.2B | ||
| Q2 24 | $1.5B | $1.2B | ||
| Q1 24 | $1.9B | $1.2B |
股东权益IPGSEB
| Q4 25 | — | $5.2B | ||
| Q3 25 | $3.7B | $5.0B | ||
| Q2 25 | $3.7B | $4.8B | ||
| Q1 25 | $3.6B | $4.7B | ||
| Q4 24 | $3.8B | $4.7B | ||
| Q3 24 | $3.7B | $4.5B | ||
| Q2 24 | $3.8B | $4.7B | ||
| Q1 24 | $3.8B | $4.6B |
总资产IPGSEB
| Q4 25 | — | $8.2B | ||
| Q3 25 | $17.0B | $8.0B | ||
| Q2 25 | $17.0B | $7.9B | ||
| Q1 25 | $17.1B | $7.6B | ||
| Q4 24 | $18.3B | $7.7B | ||
| Q3 24 | $17.1B | $7.5B | ||
| Q2 24 | $17.0B | $7.7B | ||
| Q1 24 | $17.3B | $7.6B |
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 | $188.0M |
| 自由现金流经营现金流 - 资本支出 | $153.6M | $53.0M |
| 自由现金流率自由现金流/营收 | 7.2% | 2.2% |
| 资本支出强度资本支出/营收 | 1.2% | 5.6% |
| 现金转化率经营现金流/净利润 | 1.45× | 0.74× |
| 过去12个月自由现金流最近4个季度 | $806.8M | $6.0M |
8季度趋势，按日历期对齐
经营现金流IPGSEB
| Q4 25 | — | $188.0M | ||
| Q3 25 | $180.1M | $319.0M | ||
| Q2 25 | $-96.0M | $81.0M | ||
| Q1 25 | $-37.0M | $-20.0M | ||
| Q4 24 | $868.1M | $300.0M | ||
| Q3 24 | $223.8M | $194.0M | ||
| Q2 24 | $120.7M | $6.0M | ||
| Q1 24 | $-157.4M | $19.0M |
自由现金流IPGSEB
| Q4 25 | — | $53.0M | ||
| Q3 25 | $153.6M | $152.0M | ||
| Q2 25 | $-121.8M | $-70.0M | ||
| Q1 25 | $-58.5M | $-129.0M | ||
| Q4 24 | $833.5M | $162.0M | ||
| Q3 24 | $186.5M | $58.0M | ||
| Q2 24 | $85.9M | $-127.0M | ||
| Q1 24 | $-192.5M | $-85.0M |
自由现金流率IPGSEB
| Q4 25 | — | 2.2% | ||
| Q3 25 | 7.2% | 6.0% | ||
| Q2 25 | -5.6% | -2.8% | ||
| Q1 25 | -2.9% | -5.6% | ||
| Q4 24 | 34.2% | 6.5% | ||
| Q3 24 | 8.3% | 2.6% | ||
| Q2 24 | 3.7% | -5.7% | ||
| Q1 24 | -8.8% | -3.9% |
资本支出强度IPGSEB
| Q4 25 | — | 5.6% | ||
| Q3 25 | 1.2% | 6.6% | ||
| Q2 25 | 1.2% | 6.1% | ||
| Q1 25 | 1.1% | 4.7% | ||
| Q4 24 | 1.4% | 5.6% | ||
| Q3 24 | 1.7% | 6.1% | ||
| Q2 24 | 1.5% | 6.0% | ||
| Q1 24 | 1.6% | 4.7% |
现金转化率IPGSEB
| Q4 25 | — | 0.74× | ||
| Q3 25 | 1.45× | 2.90× | ||
| Q2 25 | -0.59× | 0.78× | ||
| Q1 25 | — | -0.63× | ||
| Q4 24 | 2.52× | 1.92× | ||
| Q3 24 | 11.13× | — | ||
| Q2 24 | 0.56× | 0.10× | ||
| Q1 24 | -1.43× | 0.86× |
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% |
SEB
| Commodity Trading And Milling | $1.3B | 52% |
| Pork Segment | $469.0M | 19% |
| Marine | $444.0M | 18% |
| Other | $108.0M | 4% |
| Energy Service | $56.0M | 2% |
| Product And Service Other Services | $15.0M | 1% |
| Transportation | $6.0M | 0% |
