vs
埃培智集团（IPG）与WEBTOON Entertainment Inc.（WBTN）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WEBTOON Entertainment Inc.的6.5倍（$2.1B vs $330.7M）。埃培智集团净利率更高（5.8% vs -93.0%，领先98.8%）。埃培智集团自由现金流更多（$153.6M vs $7.0M）
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。
WEBTOON Entertainment Inc.运营的WEBTOON是由NAVER公司2004年推出的韩美共享网络漫画平台，提供网络漫画及短篇数字漫画内容刊载服务。平台由NAVER及NAVER与软银集团合资的LY集团共同控股，总部位于美国洛杉矶，用户可通过Webtoons.com官网及安卓、iOS端移动应用免费访问使用。
IPG vs WBTN — 直观对比
营收规模更大
IPG
是对方的6.5倍
$330.7M
净利率更高
IPG
高出98.8%
-93.0%
自由现金流更多
IPG
多$146.6M
$7.0M
损益表 — Q3 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $330.7M |
| 净利润 | $124.2M | $-307.6M |
| 毛利率 | — | 24.3% |
| 营业利润率 | 10.3% | -4.0% |
| 净利率 | 5.8% | -93.0% |
| 营收同比 | -4.8% | — |
| 净利润同比 | 517.9% | — |
| 每股收益（稀释后） | $0.34 | $-2.37 |
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IPGWBTN
| Q4 25 | — | $330.7M | ||
| Q3 25 | $2.1B | $378.0M | ||
| Q2 25 | $2.2B | $348.3M | ||
| Q1 25 | $2.0B | $325.7M | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.2B | $347.9M | ||
| Q2 24 | $2.3B | $321.0M | ||
| Q1 24 | $2.2B | — |
净利润IPGWBTN
| Q4 25 | — | $-307.6M | ||
| Q3 25 | $124.2M | $-11.6M | ||
| Q2 25 | $162.5M | $-4.3M | ||
| Q1 25 | $-85.4M | $-22.4M | ||
| Q4 24 | $344.5M | — | ||
| Q3 24 | $20.1M | $19.8M | ||
| Q2 24 | $214.5M | $-76.9M | ||
| Q1 24 | $110.4M | — |
毛利率IPGWBTN
| Q4 25 | — | 24.3% | ||
| Q3 25 | — | 21.9% | ||
| Q2 25 | — | 25.1% | ||
| Q1 25 | -3.2% | 22.0% | ||
| Q4 24 | 10.1% | — | ||
| Q3 24 | 2.9% | 26.3% | ||
| Q2 24 | 1.2% | 25.9% | ||
| Q1 24 | -1.1% | — |
营业利润率IPGWBTN
| Q4 25 | — | -4.0% | ||
| Q3 25 | 10.3% | -3.9% | ||
| Q2 25 | 11.2% | -2.5% | ||
| Q1 25 | -2.1% | -8.2% | ||
| Q4 24 | 23.3% | — | ||
| Q3 24 | 5.9% | -2.3% | ||
| Q2 24 | 13.7% | -24.6% | ||
| Q1 24 | 8.4% | — |
净利率IPGWBTN
| Q4 25 | — | -93.0% | ||
| Q3 25 | 5.8% | -3.1% | ||
| Q2 25 | 7.5% | -1.2% | ||
| Q1 25 | -4.3% | -6.9% | ||
| Q4 24 | 14.1% | — | ||
| Q3 24 | 0.9% | 5.7% | ||
| Q2 24 | 9.2% | -24.0% | ||
| Q1 24 | 5.1% | — |
每股收益（稀释后）IPGWBTN
| Q4 25 | — | $-2.37 | ||
| Q3 25 | $0.34 | $-0.09 | ||
| Q2 25 | $0.44 | $-0.03 | ||
| Q1 25 | $-0.23 | $-0.17 | ||
| Q4 24 | $0.92 | — | ||
| Q3 24 | $0.05 | $0.15 | ||
| Q2 24 | $0.57 | $-0.70 | ||
| Q1 24 | $0.29 | — |
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 | $581.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.7B | $1.2B |
| 总资产 | $17.0B | $1.6B |
| 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IPGWBTN
| Q4 25 | — | $581.8M | ||
| Q3 25 | $1.5B | $584.6M | ||
| Q2 25 | $1.6B | $581.5M | ||
| Q1 25 | $1.9B | $550.1M | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $1.5B | $585.5M | ||
| Q2 24 | $1.5B | $572.3M | ||
| Q1 24 | $1.9B | — |
股东权益IPGWBTN
| Q4 25 | — | $1.2B | ||
| Q3 25 | $3.7B | $1.5B | ||
| Q2 25 | $3.7B | $1.5B | ||
| Q1 25 | $3.6B | $1.5B | ||
| Q4 24 | $3.8B | — | ||
| Q3 24 | $3.7B | $1.6B | ||
| Q2 24 | $3.8B | $1.5B | ||
| Q1 24 | $3.8B | — |
总资产IPGWBTN
| Q4 25 | — | $1.6B | ||
| Q3 25 | $17.0B | $2.0B | ||
| Q2 25 | $17.0B | $2.0B | ||
| Q1 25 | $17.1B | $1.9B | ||
| Q4 24 | $18.3B | — | ||
| Q3 24 | $17.1B | $2.1B | ||
| Q2 24 | $17.0B | $2.0B | ||
| Q1 24 | $17.3B | — |
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 | $7.6M |
| 自由现金流经营现金流 - 资本支出 | $153.6M | $7.0M |
| 自由现金流率自由现金流/营收 | 7.2% | 2.1% |
| 资本支出强度资本支出/营收 | 1.2% | 0.2% |
| 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 | $3.6M |
8季度趋势，按日历期对齐
经营现金流IPGWBTN
| Q4 25 | — | $7.6M | ||
| Q3 25 | $180.1M | $16.5M | ||
| Q2 25 | $-96.0M | $5.7M | ||
| Q1 25 | $-37.0M | $-18.7M | ||
| Q4 24 | $868.1M | — | ||
| Q3 24 | $223.8M | $4.1M | ||
| Q2 24 | $120.7M | — | ||
| Q1 24 | $-157.4M | — |
自由现金流IPGWBTN
| Q4 25 | — | $7.0M | ||
| Q3 25 | $153.6M | $11.8M | ||
| Q2 25 | $-121.8M | $3.9M | ||
| Q1 25 | $-58.5M | $-19.2M | ||
| Q4 24 | $833.5M | — | ||
| Q3 24 | $186.5M | $3.5M | ||
| Q2 24 | $85.9M | — | ||
| Q1 24 | $-192.5M | — |
自由现金流率IPGWBTN
| Q4 25 | — | 2.1% | ||
| Q3 25 | 7.2% | 3.1% | ||
| Q2 25 | -5.6% | 1.1% | ||
| Q1 25 | -2.9% | -5.9% | ||
| Q4 24 | 34.2% | — | ||
| Q3 24 | 8.3% | 1.0% | ||
| Q2 24 | 3.7% | — | ||
| Q1 24 | -8.8% | — |
资本支出强度IPGWBTN
| Q4 25 | — | 0.2% | ||
| Q3 25 | 1.2% | 1.2% | ||
| Q2 25 | 1.2% | 0.5% | ||
| Q1 25 | 1.1% | 0.2% | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 1.7% | 0.2% | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 1.6% | — |
现金转化率IPGWBTN
| Q4 25 | — | — | ||
| Q3 25 | 1.45× | — | ||
| Q2 25 | -0.59× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.52× | — | ||
| Q3 24 | 11.13× | 0.21× | ||
| 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% |
WBTN
| Other | $158.3M | 48% |
| KR | $125.7M | 38% |
| IP Adaptations | $25.4M | 8% |
| Related Party | $21.3M | 6% |
