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IPG PHOTONICS CORP（IPGP）与MEDICAL PROPERTIES TRUST INC（MPW）财务数据对比。点击上方公司名可切换其他公司
IPG PHOTONICS CORP的季度营收约是MEDICAL PROPERTIES TRUST INC的1.0倍（$274.5M vs $270.3M），MEDICAL PROPERTIES TRUST INC净利率更高（6.5% vs 4.8%，领先1.7%），IPG PHOTONICS CORP同比增速更快（17.1% vs 16.6%），过去两年IPG PHOTONICS CORP的营收复合增速更高（4.4% vs -0.2%）
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。
Medical Properties Trust, Inc.（MPT）是一家总部位于美国阿拉巴马州伯明翰的跨国房地产投资信托基金（REIT），主要在美欧地区收购、投资医疗保健设施与营利性医疗控股公司，资产收购多采用售后回租模式，原业主出售资产后成为其租户，租户通常需签署长期三净租赁协议。
IPGP vs MPW — 直观对比
营收规模更大
IPGP
是对方的1.0倍
$270.3M
营收增速更快
IPGP
高出0.5%
16.6%
净利率更高
MPW
高出1.7%
4.8%
两年增速更快
IPGP
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $274.5M | $270.3M |
| 净利润 | $13.3M | $17.6M |
| 毛利率 | 36.1% | 95.8% |
| 营业利润率 | 1.2% | 9.7% |
| 净利率 | 4.8% | 6.5% |
| 营收同比 | 17.1% | 16.6% |
| 净利润同比 | 69.8% | 104.3% |
| 每股收益（稀释后） | $0.30 | $0.03 |
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IPGPMPW
| Q4 25 | $274.5M | $270.3M | ||
| Q3 25 | $250.8M | $237.5M | ||
| Q2 25 | $250.7M | $240.4M | ||
| Q1 25 | $227.8M | $223.8M | ||
| Q4 24 | $234.3M | $231.8M | ||
| Q3 24 | $233.1M | $225.8M | ||
| Q2 24 | $257.6M | $266.6M | ||
| Q1 24 | $252.0M | $271.3M |
净利润IPGPMPW
| Q4 25 | $13.3M | $17.6M | ||
| Q3 25 | $7.5M | $-77.7M | ||
| Q2 25 | $6.6M | $-98.4M | ||
| Q1 25 | $3.8M | $-118.3M | ||
| Q4 24 | $7.8M | $-412.3M | ||
| Q3 24 | $-233.6M | $-801.2M | ||
| Q2 24 | $20.2M | $-320.6M | ||
| Q1 24 | $24.1M | $-875.6M |
毛利率IPGPMPW
| Q4 25 | 36.1% | 95.8% | ||
| Q3 25 | 39.5% | — | ||
| Q2 25 | 37.3% | 91.8% | ||
| Q1 25 | 39.4% | 63.6% | ||
| Q4 24 | 38.6% | 90.9% | ||
| Q3 24 | 23.2% | 96.5% | ||
| Q2 24 | 37.3% | 98.4% | ||
| Q1 24 | 38.7% | 84.9% |
营业利润率IPGPMPW
| Q4 25 | 1.2% | 9.7% | ||
| Q3 25 | 3.1% | -28.0% | ||
| Q2 25 | 0.0% | -36.7% | ||
| Q1 25 | 0.8% | -48.5% | ||
| Q4 24 | 6.0% | -173.7% | ||
| Q3 24 | -108.7% | -350.7% | ||
| Q2 24 | 4.7% | -114.5% | ||
| Q1 24 | 7.6% | -318.6% |
净利率IPGPMPW
| Q4 25 | 4.8% | 6.5% | ||
| Q3 25 | 3.0% | -32.7% | ||
| Q2 25 | 2.6% | -40.9% | ||
| Q1 25 | 1.6% | -52.8% | ||
| Q4 24 | 3.3% | -177.8% | ||
| Q3 24 | -100.2% | -354.8% | ||
| Q2 24 | 7.8% | -120.3% | ||
| Q1 24 | 9.6% | -322.7% |
每股收益（稀释后）IPGPMPW
| Q4 25 | $0.30 | $0.03 | ||
| Q3 25 | $0.18 | $-0.13 | ||
| Q2 25 | $0.16 | $-0.16 | ||
| Q1 25 | $0.09 | $-0.20 | ||
| Q4 24 | $0.27 | $-0.68 | ||
| Q3 24 | $-5.33 | $-1.34 | ||
| Q2 24 | $0.45 | $-0.54 | ||
| Q1 24 | $0.52 | $-1.46 |
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 | $540.9M |
| 总债务越低越好 | — | $9.7B |
| 股东权益账面价值 | $2.1B | $4.6B |
| 总资产 | $2.4B | $15.0B |
| 负债/权益比越低杠杆越低 | — | 2.11× |
8季度趋势，按日历期对齐
现金及短期投资IPGPMPW
| Q4 25 | $839.3M | $540.9M | ||
| Q3 25 | $870.4M | $396.6M | ||
| Q2 25 | $899.6M | $509.8M | ||
| Q1 25 | $926.9M | $673.5M | ||
| Q4 24 | $930.2M | $332.3M | ||
| Q3 24 | $1.0B | $275.6M | ||
| Q2 24 | $1.1B | $606.5M | ||
| Q1 24 | $1.1B | $224.3M |
总债务IPGPMPW
| Q4 25 | — | $9.7B | ||
| Q3 25 | — | $9.6B | ||
| Q2 25 | — | $9.6B | ||
| Q1 25 | — | $9.5B | ||
| Q4 24 | — | $8.8B | ||
| Q3 24 | — | $9.2B | ||
| Q2 24 | — | $9.4B | ||
| Q1 24 | — | $10.1B |
股东权益IPGPMPW
| Q4 25 | $2.1B | $4.6B | ||
| Q3 25 | $2.1B | $4.7B | ||
| Q2 25 | $2.1B | $4.8B | ||
| Q1 25 | $2.1B | $4.8B | ||
| Q4 24 | $2.0B | $4.8B | ||
| Q3 24 | $2.1B | $5.4B | ||
| Q2 24 | $2.3B | $6.2B | ||
| Q1 24 | $2.3B | $6.7B |
总资产IPGPMPW
| Q4 25 | $2.4B | $15.0B | ||
| Q3 25 | $2.4B | $14.9B | ||
| Q2 25 | $2.4B | $15.2B | ||
| Q1 25 | $2.3B | $14.9B | ||
| Q4 24 | $2.3B | $14.3B | ||
| Q3 24 | $2.4B | $15.2B | ||
| Q2 24 | $2.5B | $16.2B | ||
| Q1 24 | $2.6B | $17.3B |
负债/权益比IPGPMPW
| Q4 25 | — | 2.11× | ||
| Q3 25 | — | 2.06× | ||
| Q2 25 | — | 2.00× | ||
| Q1 25 | — | 1.99× | ||
| Q4 24 | — | 1.83× | ||
| Q3 24 | — | 1.69× | ||
| Q2 24 | — | 1.51× | ||
| Q1 24 | — | 1.51× |
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 | $230.8M |
| 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× | 13.11× |
| 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IPGPMPW
| Q4 25 | $28.8M | $230.8M | ||
| Q3 25 | $35.3M | $18.6M | ||
| Q2 25 | $-2.2M | $51.7M | ||
| Q1 25 | $13.4M | $384.0K | ||
| Q4 24 | $73.8M | $245.5M | ||
| Q3 24 | $66.1M | $59.2M | ||
| Q2 24 | $53.5M | $35.3M | ||
| Q1 24 | $54.6M | $74.3M |
自由现金流IPGPMPW
| 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IPGPMPW
| 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IPGPMPW
| 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IPGPMPW
| Q4 25 | 2.17× | 13.11× | ||
| Q3 25 | 4.73× | — | ||
| Q2 25 | -0.34× | — | ||
| Q1 25 | 3.58× | — | ||
| Q4 24 | 9.44× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.65× | — | ||
| Q1 24 | 2.27× | — |
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% |
MPW
暂无分部数据
