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IPG PHOTONICS CORP（IPGP）与Wheels Up Experience Inc.（UP）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Wheels Up Experience Inc.的1.5倍（$274.5M vs $183.8M），IPG PHOTONICS CORP净利率更高（4.8% vs -15.7%，领先20.5%），IPG PHOTONICS CORP同比增速更快（17.1% vs -10.2%），IPG PHOTONICS CORP自由现金流更多（$10.9M vs $-58.3M），过去两年IPG PHOTONICS CORP的营收复合增速更高（4.4% vs -3.4%）
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。
Wheels Up是美国领先的按需私人航空服务提供商，也是全球规模最大的私人航空企业之一。公司由肯尼·迪希特创立于2013年，采用会员制按需服务的商业模式，会员可通过移动应用程序，从公司自有机队及第三方运营商处预订私人飞机出行。
IPGP vs UP — 直观对比
营收规模更大
IPGP
是对方的1.5倍
$183.8M
营收增速更快
IPGP
高出27.4%
-10.2%
净利率更高
IPGP
高出20.5%
-15.7%
自由现金流更多
IPGP
多$69.2M
$-58.3M
两年增速更快
IPGP
近两年复合增速
-3.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $274.5M | $183.8M |
| 净利润 | $13.3M | $-28.9M |
| 毛利率 | 36.1% | 14.3% |
| 营业利润率 | 1.2% | -0.9% |
| 净利率 | 4.8% | -15.7% |
| 营收同比 | 17.1% | -10.2% |
| 净利润同比 | 69.8% | 67.0% |
| 每股收益（稀释后） | $0.30 | $-0.04 |
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IPGPUP
| Q4 25 | $274.5M | $183.8M | ||
| Q3 25 | $250.8M | $185.5M | ||
| Q2 25 | $250.7M | $189.6M | ||
| Q1 25 | $227.8M | $177.5M | ||
| Q4 24 | $234.3M | $204.8M | ||
| Q3 24 | $233.1M | $193.9M | ||
| Q2 24 | $257.6M | $196.3M | ||
| Q1 24 | $252.0M | $197.1M |
净利润IPGPUP
| Q4 25 | $13.3M | $-28.9M | ||
| Q3 25 | $7.5M | $-83.7M | ||
| Q2 25 | $6.6M | $-82.3M | ||
| Q1 25 | $3.8M | $-99.3M | ||
| Q4 24 | $7.8M | $-87.5M | ||
| Q3 24 | $-233.6M | $-57.7M | ||
| Q2 24 | $20.2M | $-97.0M | ||
| Q1 24 | $24.1M | $-97.4M |
毛利率IPGPUP
| Q4 25 | 36.1% | 14.3% | ||
| Q3 25 | 39.5% | 6.8% | ||
| Q2 25 | 37.3% | 8.3% | ||
| Q1 25 | 39.4% | 10.8% | ||
| Q4 24 | 38.6% | 13.9% | ||
| Q3 24 | 23.2% | 13.9% | ||
| Q2 24 | 37.3% | 2.3% | ||
| Q1 24 | 38.7% | -0.6% |
营业利润率IPGPUP
| Q4 25 | 1.2% | -0.9% | ||
| Q3 25 | 3.1% | -33.1% | ||
| Q2 25 | 0.0% | -31.4% | ||
| Q1 25 | 0.8% | -45.5% | ||
| Q4 24 | 6.0% | -26.0% | ||
| Q3 24 | -108.7% | -21.6% | ||
| Q2 24 | 4.7% | -40.3% | ||
| Q1 24 | 7.6% | -42.9% |
净利率IPGPUP
| Q4 25 | 4.8% | -15.7% | ||
| Q3 25 | 3.0% | -45.1% | ||
| Q2 25 | 2.6% | -43.4% | ||
| Q1 25 | 1.6% | -55.9% | ||
| Q4 24 | 3.3% | -42.7% | ||
| Q3 24 | -100.2% | -29.8% | ||
| Q2 24 | 7.8% | -49.4% | ||
| Q1 24 | 9.6% | -49.4% |
每股收益（稀释后）IPGPUP
| Q4 25 | $0.30 | $-0.04 | ||
| Q3 25 | $0.18 | $-0.12 | ||
| Q2 25 | $0.16 | $-0.12 | ||
| Q1 25 | $0.09 | $-0.14 | ||
| Q4 24 | $0.27 | $-0.13 | ||
| Q3 24 | $-5.33 | $-0.08 | ||
| Q2 24 | $0.45 | $-0.14 | ||
| Q1 24 | $0.52 | $-0.14 |
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 | $133.9M |
| 总债务越低越好 | — | $671.3M |
| 股东权益账面价值 | $2.1B | $-392.1M |
| 总资产 | $2.4B | $968.8M |
| 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IPGPUP
| Q4 25 | $839.3M | $133.9M | ||
| Q3 25 | $870.4M | $125.3M | ||
| Q2 25 | $899.6M | $107.0M | ||
| Q1 25 | $926.9M | $171.8M | ||
| Q4 24 | $930.2M | $216.4M | ||
| Q3 24 | $1.0B | $115.9M | ||
| Q2 24 | $1.1B | $141.5M | ||
| Q1 24 | $1.1B | $180.9M |
总债务IPGPUP
| Q4 25 | — | $671.3M | ||
| Q3 25 | — | $766.5M | ||
| Q2 25 | — | $770.5M | ||
| Q1 25 | — | $765.8M | ||
| Q4 24 | — | $761.3M | ||
| Q3 24 | — | $596.9M | ||
| Q2 24 | — | $597.4M | ||
| Q1 24 | — | $603.2M |
股东权益IPGPUP
| Q4 25 | $2.1B | $-392.1M | ||
| Q3 25 | $2.1B | $-374.5M | ||
| Q2 25 | $2.1B | $-347.8M | ||
| Q1 25 | $2.1B | $-288.1M | ||
| Q4 24 | $2.0B | $-202.1M | ||
| Q3 24 | $2.1B | $-117.7M | ||
| Q2 24 | $2.3B | $-72.2M | ||
| Q1 24 | $2.3B | $936.0K |
总资产IPGPUP
| Q4 25 | $2.4B | $968.8M | ||
| Q3 25 | $2.4B | $973.0M | ||
| Q2 25 | $2.4B | $1.0B | ||
| Q1 25 | $2.3B | $1.1B | ||
| Q4 24 | $2.3B | $1.2B | ||
| Q3 24 | $2.4B | $1.0B | ||
| Q2 24 | $2.5B | $1.1B | ||
| Q1 24 | $2.6B | $1.2B |
负债/权益比IPGPUP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 644.43× |
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 | $-18.4M |
| 自由现金流经营现金流 - 资本支出 | $10.9M | $-58.3M |
| 自由现金流率自由现金流/营收 | 4.0% | -31.7% |
| 资本支出强度资本支出/营收 | 6.5% | 21.7% |
| 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 | $-259.9M |
8季度趋势，按日历期对齐
经营现金流IPGPUP
| Q4 25 | $28.8M | $-18.4M | ||
| Q3 25 | $35.3M | $-37.1M | ||
| Q2 25 | $-2.2M | $-62.9M | ||
| Q1 25 | $13.4M | $-47.9M | ||
| Q4 24 | $73.8M | $37.9M | ||
| Q3 24 | $66.1M | $-16.9M | ||
| Q2 24 | $53.5M | $-25.2M | ||
| Q1 24 | $54.6M | $-73.8M |
自由现金流IPGPUP
| Q4 25 | $10.9M | $-58.3M | ||
| Q3 25 | $14.6M | $-60.4M | ||
| Q2 25 | $-17.6M | $-78.6M | ||
| Q1 25 | $-11.4M | $-62.6M | ||
| Q4 24 | $50.6M | $-70.2M | ||
| Q3 24 | $43.0M | $-21.9M | ||
| Q2 24 | $29.2M | $-30.8M | ||
| Q1 24 | $26.5M | $-77.8M |
自由现金流率IPGPUP
| Q4 25 | 4.0% | -31.7% | ||
| Q3 25 | 5.8% | -32.6% | ||
| Q2 25 | -7.0% | -41.5% | ||
| Q1 25 | -5.0% | -35.3% | ||
| Q4 24 | 21.6% | -34.3% | ||
| Q3 24 | 18.4% | -11.3% | ||
| Q2 24 | 11.3% | -15.7% | ||
| Q1 24 | 10.5% | -39.5% |
资本支出强度IPGPUP
| Q4 25 | 6.5% | 21.7% | ||
| Q3 25 | 8.3% | 12.5% | ||
| Q2 25 | 6.1% | 8.3% | ||
| Q1 25 | 10.9% | 8.3% | ||
| Q4 24 | 9.9% | 52.8% | ||
| Q3 24 | 9.9% | 2.6% | ||
| Q2 24 | 9.4% | 2.9% | ||
| Q1 24 | 11.1% | 2.0% |
现金转化率IPGPUP
| Q4 25 | 2.17× | — | ||
| 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% |
UP
暂无分部数据
