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IPG PHOTONICS CORP（IPGP）与OUTFRONT Media Inc.（OUT）财务数据对比。点击上方公司名可切换其他公司
OUTFRONT Media Inc.的季度营收约是IPG PHOTONICS CORP的1.9倍（$513.3M vs $274.5M），OUTFRONT Media Inc.净利率更高（18.9% vs 4.8%，领先14.0%），IPG PHOTONICS CORP同比增速更快（17.1% vs 4.1%），OUTFRONT Media Inc.自由现金流更多（$93.3M vs $10.9M），过去两年OUTFRONT Media Inc.的营收复合增速更高（12.1% vs 4.4%）
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。
OUTFRONT Media Inc.是一家美国广告企业，业务覆盖美国本土，由首席执行官Nick Brien领导美洲区业务，核心经营广告牌及公共交通展示广告两大业务板块，是户外广告领域的重要参与者。
IPGP vs OUT — 直观对比
营收规模更大
OUT
是对方的1.9倍
$274.5M
营收增速更快
IPGP
高出13.1%
4.1%
净利率更高
OUT
高出14.0%
4.8%
自由现金流更多
OUT
多$82.4M
$10.9M
两年增速更快
OUT
近两年复合增速
4.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $274.5M | $513.3M |
| 净利润 | $13.3M | $96.8M |
| 毛利率 | 36.1% | — |
| 营业利润率 | 1.2% | 26.0% |
| 净利率 | 4.8% | 18.9% |
| 营收同比 | 17.1% | 4.1% |
| 净利润同比 | 69.8% | 30.8% |
| 每股收益（稀释后） | $0.30 | $0.57 |
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IPGPOUT
| Q4 25 | $274.5M | $513.3M | ||
| Q3 25 | $250.8M | $467.5M | ||
| Q2 25 | $250.7M | $460.2M | ||
| Q1 25 | $227.8M | $390.7M | ||
| Q4 24 | $234.3M | $493.2M | ||
| Q3 24 | $233.1M | $451.9M | ||
| Q2 24 | $257.6M | $477.3M | ||
| Q1 24 | $252.0M | $408.5M |
净利润IPGPOUT
| Q4 25 | $13.3M | $96.8M | ||
| Q3 25 | $7.5M | $51.3M | ||
| Q2 25 | $6.6M | $19.5M | ||
| Q1 25 | $3.8M | $-20.6M | ||
| Q4 24 | $7.8M | $74.0M | ||
| Q3 24 | $-233.6M | $34.6M | ||
| Q2 24 | $20.2M | $176.8M | ||
| Q1 24 | $24.1M | $-27.2M |
毛利率IPGPOUT
| 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IPGPOUT
| Q4 25 | 1.2% | 26.0% | ||
| Q3 25 | 3.1% | 19.2% | ||
| Q2 25 | 0.0% | 12.2% | ||
| Q1 25 | 0.8% | 3.6% | ||
| Q4 24 | 6.0% | 22.5% | ||
| Q3 24 | -108.7% | 15.8% | ||
| Q2 24 | 4.7% | 48.0% | ||
| Q1 24 | 7.6% | 3.4% |
净利率IPGPOUT
| Q4 25 | 4.8% | 18.9% | ||
| Q3 25 | 3.0% | 11.0% | ||
| Q2 25 | 2.6% | 4.2% | ||
| Q1 25 | 1.6% | -5.3% | ||
| Q4 24 | 3.3% | 15.0% | ||
| Q3 24 | -100.2% | 7.7% | ||
| Q2 24 | 7.8% | 37.0% | ||
| Q1 24 | 9.6% | -6.7% |
每股收益（稀释后）IPGPOUT
| Q4 25 | $0.30 | $0.57 | ||
| Q3 25 | $0.18 | $0.29 | ||
| Q2 25 | $0.16 | $0.10 | ||
| Q1 25 | $0.09 | $-0.14 | ||
| Q4 24 | $0.27 | $0.49 | ||
| Q3 24 | $-5.33 | $0.19 | ||
| Q2 24 | $0.45 | $1.01 | ||
| Q1 24 | $0.52 | $-0.18 |
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 | $99.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.1B | $710.4M |
| 总资产 | $2.4B | $5.3B |
| 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IPGPOUT
| Q4 25 | $839.3M | $99.9M | ||
| Q3 25 | $870.4M | $63.0M | ||
| Q2 25 | $899.6M | $28.5M | ||
| Q1 25 | $926.9M | $30.5M | ||
| Q4 24 | $930.2M | $46.9M | ||
| Q3 24 | $1.0B | $28.0M | ||
| Q2 24 | $1.1B | $49.6M | ||
| Q1 24 | $1.1B | $42.4M |
股东权益IPGPOUT
| Q4 25 | $2.1B | $710.4M | ||
| Q3 25 | $2.1B | $542.6M | ||
| Q2 25 | $2.1B | $539.1M | ||
| Q1 25 | $2.1B | $566.9M | ||
| Q4 24 | $2.0B | $649.0M | ||
| Q3 24 | $2.1B | $618.2M | ||
| Q2 24 | $2.3B | $664.9M | ||
| Q1 24 | $2.3B | $524.2M |
总资产IPGPOUT
| Q4 25 | $2.4B | $5.3B | ||
| Q3 25 | $2.4B | $5.2B | ||
| Q2 25 | $2.4B | $5.1B | ||
| Q1 25 | $2.3B | $5.1B | ||
| Q4 24 | $2.3B | $5.2B | ||
| Q3 24 | $2.4B | $5.2B | ||
| Q2 24 | $2.5B | $5.3B | ||
| Q1 24 | $2.6B | $5.5B |
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 | $118.1M |
| 自由现金流经营现金流 - 资本支出 | $10.9M | $93.3M |
| 自由现金流率自由现金流/营收 | 4.0% | 18.2% |
| 资本支出强度资本支出/营收 | 6.5% | 4.8% |
| 现金转化率经营现金流/净利润 | 2.17× | 1.22× |
| 过去12个月自由现金流最近4个季度 | $-3.5M | $218.8M |
8季度趋势，按日历期对齐
经营现金流IPGPOUT
| Q4 25 | $28.8M | $118.1M | ||
| Q3 25 | $35.3M | $88.8M | ||
| Q2 25 | $-2.2M | $67.1M | ||
| Q1 25 | $13.4M | $33.6M | ||
| Q4 24 | $73.8M | $124.5M | ||
| Q3 24 | $66.1M | $73.1M | ||
| Q2 24 | $53.5M | $71.0M | ||
| Q1 24 | $54.6M | $30.6M |
自由现金流IPGPOUT
| Q4 25 | $10.9M | $93.3M | ||
| Q3 25 | $14.6M | $67.7M | ||
| Q2 25 | $-17.6M | $41.4M | ||
| Q1 25 | $-11.4M | $16.4M | ||
| Q4 24 | $50.6M | $106.3M | ||
| Q3 24 | $43.0M | $55.5M | ||
| Q2 24 | $29.2M | $47.1M | ||
| Q1 24 | $26.5M | $12.2M |
自由现金流率IPGPOUT
| Q4 25 | 4.0% | 18.2% | ||
| Q3 25 | 5.8% | 14.5% | ||
| Q2 25 | -7.0% | 9.0% | ||
| Q1 25 | -5.0% | 4.2% | ||
| Q4 24 | 21.6% | 21.6% | ||
| Q3 24 | 18.4% | 12.3% | ||
| Q2 24 | 11.3% | 9.9% | ||
| Q1 24 | 10.5% | 3.0% |
资本支出强度IPGPOUT
| Q4 25 | 6.5% | 4.8% | ||
| Q3 25 | 8.3% | 4.5% | ||
| Q2 25 | 6.1% | 5.6% | ||
| Q1 25 | 10.9% | 4.4% | ||
| Q4 24 | 9.9% | 3.7% | ||
| Q3 24 | 9.9% | 3.9% | ||
| Q2 24 | 9.4% | 5.0% | ||
| Q1 24 | 11.1% | 4.5% |
现金转化率IPGPOUT
| Q4 25 | 2.17× | 1.22× | ||
| Q3 25 | 4.73× | 1.73× | ||
| Q2 25 | -0.34× | 3.44× | ||
| Q1 25 | 3.58× | — | ||
| Q4 24 | 9.44× | 1.68× | ||
| Q3 24 | — | 2.11× | ||
| Q2 24 | 2.65× | 0.40× | ||
| 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% |
OUT
| Static Displays | $236.3M | 46% |
| Other | $134.8M | 26% |
| Digital Displays | $125.3M | 24% |
| Other Revenues | $1.9M | 0% |
