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IPG PHOTONICS CORP（IPGP）与Kosmos Energy Ltd.（KOS）财务数据对比。点击上方公司名可切换其他公司
Kosmos Energy Ltd.的季度营收约是IPG PHOTONICS CORP的1.1倍（$294.6M vs $274.5M），IPG PHOTONICS CORP同比增速更快（17.1% vs -25.9%），过去两年IPG PHOTONICS CORP的营收复合增速更高（4.4% vs -16.5%）
IPG光电是全球领先的光纤激光器制造商，率先实现光纤激光器的技术研发与商业化落地，产品广泛应用于材料加工、医疗、电信等多元领域，在美国、德国、俄罗斯、意大利均设有生产基地，为全球各行业客户提供高性能的激光解决方案。
科斯莫斯能源是一家美国上游石油企业，总部位于得克萨斯州达拉斯。公司目前在加纳、赤道几内亚近海以及墨西哥湾开展油气生产与开发业务，在毛里塔尼亚、塞内加尔近海拥有开发项目，还在纳米比亚、圣多美和普林西比、苏里南近海持有勘探许可。
IPGP vs KOS — 直观对比
营收规模更大
KOS
是对方的1.1倍
$274.5M
营收增速更快
IPGP
高出43.0%
-25.9%
两年增速更快
IPGP
近两年复合增速
-16.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $274.5M | $294.6M |
| 净利润 | $13.3M | — |
| 毛利率 | 36.1% | — |
| 营业利润率 | 1.2% | -125.7% |
| 净利率 | 4.8% | — |
| 营收同比 | 17.1% | -25.9% |
| 净利润同比 | 69.8% | — |
| 每股收益（稀释后） | $0.30 | $-0.80 |
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IPGPKOS
| Q4 25 | $274.5M | $294.6M | ||
| Q3 25 | $250.8M | $311.0M | ||
| Q2 25 | $250.7M | $392.6M | ||
| Q1 25 | $227.8M | $290.1M | ||
| Q4 24 | $234.3M | $397.6M | ||
| Q3 24 | $233.1M | $407.8M | ||
| Q2 24 | $257.6M | $447.8M | ||
| Q1 24 | $252.0M | $422.3M |
净利润IPGPKOS
| Q4 25 | $13.3M | — | ||
| Q3 25 | $7.5M | $-124.3M | ||
| Q2 25 | $6.6M | $-87.7M | ||
| Q1 25 | $3.8M | $-110.6M | ||
| Q4 24 | $7.8M | — | ||
| Q3 24 | $-233.6M | $45.0M | ||
| Q2 24 | $20.2M | $59.8M | ||
| Q1 24 | $24.1M | $91.7M |
毛利率IPGPKOS
| Q4 25 | 36.1% | — | ||
| Q3 25 | 39.5% | — | ||
| Q2 25 | 37.3% | — | ||
| Q1 25 | 39.4% | — | ||
| Q4 24 | 38.6% | — | ||
| Q3 24 | 23.2% | — | ||
| Q2 24 | 37.3% | — | ||
| Q1 24 | 38.7% | — |
营业利润率IPGPKOS
| Q4 25 | 1.2% | -125.7% | ||
| Q3 25 | 3.1% | -34.2% | ||
| Q2 25 | 0.0% | -16.2% | ||
| Q1 25 | 0.8% | -32.4% | ||
| Q4 24 | 6.0% | -8.5% | ||
| Q3 24 | -108.7% | 26.1% | ||
| Q2 24 | 4.7% | 30.2% | ||
| Q1 24 | 7.6% | 33.6% |
净利率IPGPKOS
| Q4 25 | 4.8% | — | ||
| Q3 25 | 3.0% | -40.0% | ||
| Q2 25 | 2.6% | -22.3% | ||
| Q1 25 | 1.6% | -38.1% | ||
| Q4 24 | 3.3% | — | ||
| Q3 24 | -100.2% | 11.0% | ||
| Q2 24 | 7.8% | 13.3% | ||
| Q1 24 | 9.6% | 21.7% |
每股收益（稀释后）IPGPKOS
| Q4 25 | $0.30 | $-0.80 | ||
| Q3 25 | $0.18 | $-0.26 | ||
| Q2 25 | $0.16 | $-0.18 | ||
| Q1 25 | $0.09 | $-0.23 | ||
| Q4 24 | $0.27 | $0.00 | ||
| Q3 24 | $-5.33 | $0.09 | ||
| Q2 24 | $0.45 | $0.12 | ||
| Q1 24 | $0.52 | $0.19 |
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 | $839.3M | $91.5M |
| 总债务越低越好 | — | $3.1B |
| 股东权益账面价值 | $2.1B | $528.6M |
| 总资产 | $2.4B | $4.7B |
| 负债/权益比越低杠杆越低 | — | 5.78× |
8季度趋势，按日历期对齐
现金及短期投资IPGPKOS
| Q4 25 | $839.3M | $91.5M | ||
| Q3 25 | $870.4M | $64.0M | ||
| Q2 25 | $899.6M | $51.7M | ||
| Q1 25 | $926.9M | $49.8M | ||
| Q4 24 | $930.2M | $85.0M | ||
| Q3 24 | $1.0B | $51.6M | ||
| Q2 24 | $1.1B | $173.8M | ||
| Q1 24 | $1.1B | $254.3M |
总债务IPGPKOS
| Q4 25 | — | $3.1B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | — | $2.9B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IPGPKOS
| Q4 25 | $2.1B | $528.6M | ||
| Q3 25 | $2.1B | $898.8M | ||
| Q2 25 | $2.1B | $1.0B | ||
| Q1 25 | $2.1B | $1.1B | ||
| Q4 24 | $2.0B | $1.2B | ||
| Q3 24 | $2.1B | $1.2B | ||
| Q2 24 | $2.3B | $1.1B | ||
| Q1 24 | $2.3B | $1.1B |
总资产IPGPKOS
| Q4 25 | $2.4B | $4.7B | ||
| Q3 25 | $2.4B | $5.1B | ||
| Q2 25 | $2.4B | $5.2B | ||
| Q1 25 | $2.3B | $5.3B | ||
| Q4 24 | $2.3B | $5.3B | ||
| Q3 24 | $2.4B | $5.5B | ||
| Q2 24 | $2.5B | $5.4B | ||
| Q1 24 | $2.6B | $5.4B |
负债/权益比IPGPKOS
| Q4 25 | — | 5.78× | ||
| Q3 25 | — | 3.31× | ||
| Q2 25 | — | 2.80× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.29× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $28.8M | $35.3M |
| 自由现金流经营现金流 - 资本支出 | $10.9M | — |
| 自由现金流率自由现金流/营收 | 4.0% | — |
| 资本支出强度资本支出/营收 | 6.5% | — |
| 现金转化率经营现金流/净利润 | 2.17× | — |
| 过去12个月自由现金流最近4个季度 | $-3.5M | — |
8季度趋势，按日历期对齐
经营现金流IPGPKOS
| Q4 25 | $28.8M | $35.3M | ||
| Q3 25 | $35.3M | $-27.6M | ||
| Q2 25 | $-2.2M | $127.2M | ||
| Q1 25 | $13.4M | $-888.0K | ||
| Q4 24 | $73.8M | $175.7M | ||
| Q3 24 | $66.1M | $6.3M | ||
| Q2 24 | $53.5M | $223.7M | ||
| Q1 24 | $54.6M | $272.6M |
自由现金流IPGPKOS
| Q4 25 | $10.9M | — | ||
| Q3 25 | $14.6M | — | ||
| Q2 25 | $-17.6M | — | ||
| Q1 25 | $-11.4M | — | ||
| Q4 24 | $50.6M | — | ||
| Q3 24 | $43.0M | — | ||
| Q2 24 | $29.2M | — | ||
| Q1 24 | $26.5M | — |
自由现金流率IPGPKOS
| Q4 25 | 4.0% | — | ||
| Q3 25 | 5.8% | — | ||
| Q2 25 | -7.0% | — | ||
| Q1 25 | -5.0% | — | ||
| Q4 24 | 21.6% | — | ||
| Q3 24 | 18.4% | — | ||
| Q2 24 | 11.3% | — | ||
| Q1 24 | 10.5% | — |
资本支出强度IPGPKOS
| Q4 25 | 6.5% | — | ||
| Q3 25 | 8.3% | — | ||
| Q2 25 | 6.1% | — | ||
| Q1 25 | 10.9% | — | ||
| Q4 24 | 9.9% | — | ||
| Q3 24 | 9.9% | — | ||
| Q2 24 | 9.4% | — | ||
| Q1 24 | 11.1% | — |
现金转化率IPGPKOS
| Q4 25 | 2.17× | — | ||
| Q3 25 | 4.73× | — | ||
| Q2 25 | -0.34× | — | ||
| Q1 25 | 3.58× | — | ||
| Q4 24 | 9.44× | — | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | 2.65× | 3.74× | ||
| Q1 24 | 2.27× | 2.97× |
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
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
KOS
| Ghana Segment | $134.6M | 46% |
| Gulf Of America | $80.7M | 27% |
| Mauritania And Senegal | $54.9M | 19% |
| Equatorial Guinea Segment | $24.3M | 8% |
