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IPG PHOTONICS CORP（IPGP）与MONRO, INC.（MNRO）财务数据对比。点击上方公司名可切换其他公司
MONRO, INC.的季度营收约是IPG PHOTONICS CORP的1.1倍（$293.4M vs $274.5M），IPG PHOTONICS CORP净利率更高（4.8% vs 3.8%，领先1.0%），IPG PHOTONICS CORP同比增速更快（17.1% vs -4.0%），IPG PHOTONICS CORP自由现金流更多（$10.9M vs $9.1M），过去两年IPG PHOTONICS CORP的营收复合增速更高（4.4% vs -2.7%）
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。
蒙罗公司（Monro, Inc.）是一家汽车服务企业，创始并总部设在美国纽约州罗切斯特。截至2025年，蒙罗共拥有1260家门店，按门店数量与营收计算，是北美仅次于Driven Brands的第二大汽车服务企业。
IPGP vs MNRO — 直观对比
营收规模更大
MNRO
是对方的1.1倍
$274.5M
营收增速更快
IPGP
高出21.2%
-4.0%
净利率更高
IPGP
高出1.0%
3.8%
自由现金流更多
IPGP
多$1.8M
$9.1M
两年增速更快
IPGP
近两年复合增速
-2.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $274.5M | $293.4M |
| 净利润 | $13.3M | $11.1M |
| 毛利率 | 36.1% | 34.9% |
| 营业利润率 | 1.2% | 6.3% |
| 净利率 | 4.8% | 3.8% |
| 营收同比 | 17.1% | -4.0% |
| 净利润同比 | 69.8% | 143.1% |
| 每股收益（稀释后） | $0.30 | $0.35 |
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IPGPMNRO
| Q4 25 | $274.5M | $293.4M | ||
| Q3 25 | $250.8M | $288.9M | ||
| Q2 25 | $250.7M | $301.0M | ||
| Q1 25 | $227.8M | $295.0M | ||
| Q4 24 | $234.3M | $305.8M | ||
| Q3 24 | $233.1M | $301.4M | ||
| Q2 24 | $257.6M | $293.2M | ||
| Q1 24 | $252.0M | $310.1M |
净利润IPGPMNRO
| Q4 25 | $13.3M | $11.1M | ||
| Q3 25 | $7.5M | $5.7M | ||
| Q2 25 | $6.6M | $-8.1M | ||
| Q1 25 | $3.8M | $-21.3M | ||
| Q4 24 | $7.8M | $4.6M | ||
| Q3 24 | $-233.6M | $5.6M | ||
| Q2 24 | $20.2M | $5.9M | ||
| Q1 24 | $24.1M | $3.7M |
毛利率IPGPMNRO
| Q4 25 | 36.1% | 34.9% | ||
| Q3 25 | 39.5% | 35.7% | ||
| Q2 25 | 37.3% | 35.5% | ||
| Q1 25 | 39.4% | 33.0% | ||
| Q4 24 | 38.6% | 34.3% | ||
| Q3 24 | 23.2% | 35.3% | ||
| Q2 24 | 37.3% | 37.2% | ||
| Q1 24 | 38.7% | 35.5% |
营业利润率IPGPMNRO
| Q4 25 | 1.2% | 6.3% | ||
| Q3 25 | 3.1% | 4.4% | ||
| Q2 25 | 0.0% | -2.0% | ||
| Q1 25 | 0.8% | -8.1% | ||
| Q4 24 | 6.0% | 3.3% | ||
| Q3 24 | -108.7% | 4.4% | ||
| Q2 24 | 4.7% | 4.5% | ||
| Q1 24 | 7.6% | 3.3% |
净利率IPGPMNRO
| Q4 25 | 4.8% | 3.8% | ||
| Q3 25 | 3.0% | 2.0% | ||
| Q2 25 | 2.6% | -2.7% | ||
| Q1 25 | 1.6% | -7.2% | ||
| Q4 24 | 3.3% | 1.5% | ||
| Q3 24 | -100.2% | 1.9% | ||
| Q2 24 | 7.8% | 2.0% | ||
| Q1 24 | 9.6% | 1.2% |
每股收益（稀释后）IPGPMNRO
| Q4 25 | $0.30 | $0.35 | ||
| Q3 25 | $0.18 | $0.18 | ||
| Q2 25 | $0.16 | $-0.28 | ||
| Q1 25 | $0.09 | $-0.74 | ||
| Q4 24 | $0.27 | $0.15 | ||
| Q3 24 | $-5.33 | $0.18 | ||
| Q2 24 | $0.45 | $0.19 | ||
| Q1 24 | $0.52 | $0.12 |
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 | $4.9M |
| 总债务越低越好 | — | $45.0M |
| 股东权益账面价值 | $2.1B | $604.9M |
| 总资产 | $2.4B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.07× |
8季度趋势，按日历期对齐
现金及短期投资IPGPMNRO
| Q4 25 | $839.3M | $4.9M | ||
| Q3 25 | $870.4M | $10.5M | ||
| Q2 25 | $899.6M | $7.8M | ||
| Q1 25 | $926.9M | $20.8M | ||
| Q4 24 | $930.2M | $10.2M | ||
| Q3 24 | $1.0B | $20.9M | ||
| Q2 24 | $1.1B | $18.7M | ||
| Q1 24 | $1.1B | $6.6M |
总债务IPGPMNRO
| Q4 25 | — | $45.0M | ||
| Q3 25 | — | $60.0M | ||
| Q2 25 | — | $71.5M | ||
| Q1 25 | — | $61.3M | ||
| Q4 24 | — | $59.3M | ||
| Q3 24 | — | $62.0M | ||
| Q2 24 | — | $112.0M | ||
| Q1 24 | — | $102.0M |
股东权益IPGPMNRO
| Q4 25 | $2.1B | $604.9M | ||
| Q3 25 | $2.1B | $601.7M | ||
| Q2 25 | $2.1B | $604.9M | ||
| Q1 25 | $2.1B | $620.8M | ||
| Q4 24 | $2.0B | $648.9M | ||
| Q3 24 | $2.1B | $651.9M | ||
| Q2 24 | $2.3B | $654.4M | ||
| Q1 24 | $2.3B | $656.8M |
总资产IPGPMNRO
| Q4 25 | $2.4B | $1.6B | ||
| Q3 25 | $2.4B | $1.6B | ||
| Q2 25 | $2.4B | $1.6B | ||
| Q1 25 | $2.3B | $1.6B | ||
| Q4 24 | $2.3B | $1.7B | ||
| Q3 24 | $2.4B | $1.7B | ||
| Q2 24 | $2.5B | $1.7B | ||
| Q1 24 | $2.6B | $1.7B |
负债/权益比IPGPMNRO
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.10× | ||
| Q2 25 | — | 0.12× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | — | 0.09× | ||
| Q3 24 | — | 0.10× | ||
| Q2 24 | — | 0.17× | ||
| Q1 24 | — | 0.16× |
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 | $17.8M |
| 自由现金流经营现金流 - 资本支出 | $10.9M | $9.1M |
| 自由现金流率自由现金流/营收 | 4.0% | 3.1% |
| 资本支出强度资本支出/营收 | 6.5% | 3.0% |
| 现金转化率经营现金流/净利润 | 2.17× | 1.60× |
| 过去12个月自由现金流最近4个季度 | $-3.5M | $49.6M |
8季度趋势，按日历期对齐
经营现金流IPGPMNRO
| Q4 25 | $28.8M | $17.8M | ||
| Q3 25 | $35.3M | $32.3M | ||
| Q2 25 | $-2.2M | $-1.9M | ||
| Q1 25 | $13.4M | $28.9M | ||
| Q4 24 | $73.8M | $14.8M | ||
| Q3 24 | $66.1M | $62.6M | ||
| Q2 24 | $53.5M | $25.6M | ||
| Q1 24 | $54.6M | $-5.3M |
自由现金流IPGPMNRO
| Q4 25 | $10.9M | $9.1M | ||
| Q3 25 | $14.6M | $26.6M | ||
| Q2 25 | $-17.6M | $-9.3M | ||
| Q1 25 | $-11.4M | $23.2M | ||
| Q4 24 | $50.6M | $7.9M | ||
| Q3 24 | $43.0M | $57.6M | ||
| Q2 24 | $29.2M | $16.8M | ||
| Q1 24 | $26.5M | $-11.9M |
自由现金流率IPGPMNRO
| Q4 25 | 4.0% | 3.1% | ||
| Q3 25 | 5.8% | 9.2% | ||
| Q2 25 | -7.0% | -3.1% | ||
| Q1 25 | -5.0% | 7.9% | ||
| Q4 24 | 21.6% | 2.6% | ||
| Q3 24 | 18.4% | 19.1% | ||
| Q2 24 | 11.3% | 5.7% | ||
| Q1 24 | 10.5% | -3.8% |
资本支出强度IPGPMNRO
| Q4 25 | 6.5% | 3.0% | ||
| Q3 25 | 8.3% | 2.0% | ||
| Q2 25 | 6.1% | 2.5% | ||
| Q1 25 | 10.9% | 1.9% | ||
| Q4 24 | 9.9% | 2.2% | ||
| Q3 24 | 9.9% | 1.6% | ||
| Q2 24 | 9.4% | 3.0% | ||
| Q1 24 | 11.1% | 2.1% |
现金转化率IPGPMNRO
| Q4 25 | 2.17× | 1.60× | ||
| Q3 25 | 4.73× | 5.71× | ||
| Q2 25 | -0.34× | — | ||
| Q1 25 | 3.58× | — | ||
| Q4 24 | 9.44× | 3.23× | ||
| Q3 24 | — | 11.08× | ||
| Q2 24 | 2.65× | 4.37× | ||
| Q1 24 | 2.27× | -1.42× |
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% |
MNRO
| Tires | $150.2M | 51% |
| Maintenance | $73.5M | 25% |
| Brakes | $35.1M | 12% |
| Steering | $24.9M | 8% |
| Batteries | $6.2M | 2% |
| Exhaust | $3.2M | 1% |
