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IPG PHOTONICS CORP（IPGP）与UNITIL CORP（UTL）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UNITIL CORP的1.7倍（$274.5M vs $161.5M），UNITIL CORP净利率更高（11.8% vs 4.8%，领先6.9%），UNITIL CORP同比增速更快（26.7% vs 17.1%），IPG PHOTONICS CORP自由现金流更多（$10.9M vs $-36.3M），过去两年IPG PHOTONICS CORP的营收复合增速更高（4.4% vs -4.9%）
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。
Unitil是一家跨州电力与天然气公用事业公司，业务覆盖美国新罕布什尔州、马萨诸塞州与缅因州。公司最早前身是1849年在缅因州成立的波特兰煤气灯公司，现企业主体于1984年设立，总部位于新罕布什尔州。目前公司总市值约6.8651亿美元，为约10.24万电力客户、超7.59万天然气客户提供服务。
IPGP vs UTL — 直观对比
营收规模更大
IPGP
是对方的1.7倍
$161.5M
营收增速更快
UTL
高出9.5%
17.1%
净利率更高
UTL
高出6.9%
4.8%
自由现金流更多
IPGP
多$47.2M
$-36.3M
两年增速更快
IPGP
近两年复合增速
-4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $274.5M | $161.5M |
| 净利润 | $13.3M | $19.0M |
| 毛利率 | 36.1% | — |
| 营业利润率 | 1.2% | 21.5% |
| 净利率 | 4.8% | 11.8% |
| 营收同比 | 17.1% | 26.7% |
| 净利润同比 | 69.8% | 21.8% |
| 每股收益（稀释后） | $0.30 | $1.05 |
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IPGPUTL
| Q4 25 | $274.5M | $161.5M | ||
| Q3 25 | $250.8M | $101.1M | ||
| Q2 25 | $250.7M | $102.6M | ||
| Q1 25 | $227.8M | $170.8M | ||
| Q4 24 | $234.3M | $127.5M | ||
| Q3 24 | $233.1M | $92.9M | ||
| Q2 24 | $257.6M | $95.7M | ||
| Q1 24 | $252.0M | $178.7M |
净利润IPGPUTL
| Q4 25 | $13.3M | $19.0M | ||
| Q3 25 | $7.5M | $-300.0K | ||
| Q2 25 | $6.6M | $4.0M | ||
| Q1 25 | $3.8M | $27.5M | ||
| Q4 24 | $7.8M | $15.6M | ||
| Q3 24 | $-233.6M | $0 | ||
| Q2 24 | $20.2M | $4.3M | ||
| Q1 24 | $24.1M | $27.2M |
毛利率IPGPUTL
| 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IPGPUTL
| Q4 25 | 1.2% | 21.5% | ||
| Q3 25 | 3.1% | 6.9% | ||
| Q2 25 | 0.0% | 13.0% | ||
| Q1 25 | 0.8% | 27.0% | ||
| Q4 24 | 6.0% | 22.1% | ||
| Q3 24 | -108.7% | 6.2% | ||
| Q2 24 | 4.7% | 13.0% | ||
| Q1 24 | 7.6% | 24.7% |
净利率IPGPUTL
| Q4 25 | 4.8% | 11.8% | ||
| Q3 25 | 3.0% | -0.3% | ||
| Q2 25 | 2.6% | 3.9% | ||
| Q1 25 | 1.6% | 16.1% | ||
| Q4 24 | 3.3% | 12.2% | ||
| Q3 24 | -100.2% | — | ||
| Q2 24 | 7.8% | 4.5% | ||
| Q1 24 | 9.6% | 15.2% |
每股收益（稀释后）IPGPUTL
| Q4 25 | $0.30 | $1.05 | ||
| Q3 25 | $0.18 | $-0.02 | ||
| Q2 25 | $0.16 | $0.25 | ||
| Q1 25 | $0.09 | $1.69 | ||
| Q4 24 | $0.27 | $0.97 | ||
| Q3 24 | $-5.33 | $0.00 | ||
| Q2 24 | $0.45 | $0.27 | ||
| Q1 24 | $0.52 | $1.69 |
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 | $15.6M |
| 总债务越低越好 | — | $670.5M |
| 股东权益账面价值 | $2.1B | $609.6M |
| 总资产 | $2.4B | $2.1B |
| 负债/权益比越低杠杆越低 | — | 1.10× |
8季度趋势，按日历期对齐
现金及短期投资IPGPUTL
| Q4 25 | $839.3M | $15.6M | ||
| Q3 25 | $870.4M | $14.6M | ||
| Q2 25 | $899.6M | $8.5M | ||
| Q1 25 | $926.9M | $10.2M | ||
| Q4 24 | $930.2M | $6.3M | ||
| Q3 24 | $1.0B | $6.3M | ||
| Q2 24 | $1.1B | $2.8M | ||
| Q1 24 | $1.1B | $6.3M |
总债务IPGPUTL
| Q4 25 | — | $670.5M | ||
| Q3 25 | — | $670.5M | ||
| Q2 25 | — | $640.7M | ||
| Q1 25 | — | $642.1M | ||
| Q4 24 | — | $643.3M | ||
| Q3 24 | — | $643.3M | ||
| Q2 24 | — | $511.3M | ||
| Q1 24 | — | $512.8M |
股东权益IPGPUTL
| Q4 25 | $2.1B | $609.6M | ||
| Q3 25 | $2.1B | $597.2M | ||
| Q2 25 | $2.1B | $532.8M | ||
| Q1 25 | $2.1B | $534.1M | ||
| Q4 24 | $2.0B | $512.5M | ||
| Q3 24 | $2.1B | $502.4M | ||
| Q2 24 | $2.3B | $508.8M | ||
| Q1 24 | $2.3B | $510.8M |
总资产IPGPUTL
| Q4 25 | $2.4B | $2.1B | ||
| Q3 25 | $2.4B | $1.9B | ||
| Q2 25 | $2.4B | $1.9B | ||
| Q1 25 | $2.3B | $1.9B | ||
| Q4 24 | $2.3B | $1.8B | ||
| Q3 24 | $2.4B | $1.7B | ||
| Q2 24 | $2.5B | $1.7B | ||
| Q1 24 | $2.6B | $1.7B |
负债/权益比IPGPUTL
| Q4 25 | — | 1.10× | ||
| Q3 25 | — | 1.12× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | 1.00× | ||
| Q1 24 | — | 1.00× |
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 | $21.4M |
| 自由现金流经营现金流 - 资本支出 | $10.9M | $-36.3M |
| 自由现金流率自由现金流/营收 | 4.0% | -22.5% |
| 资本支出强度资本支出/营收 | 6.5% | 35.7% |
| 现金转化率经营现金流/净利润 | 2.17× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $-3.5M | $-53.8M |
8季度趋势，按日历期对齐
经营现金流IPGPUTL
| Q4 25 | $28.8M | $21.4M | ||
| Q3 25 | $35.3M | $15.6M | ||
| Q2 25 | $-2.2M | $42.2M | ||
| Q1 25 | $13.4M | $52.1M | ||
| Q4 24 | $73.8M | $23.3M | ||
| Q3 24 | $66.1M | $26.1M | ||
| Q2 24 | $53.5M | $49.9M | ||
| Q1 24 | $54.6M | $26.6M |
自由现金流IPGPUTL
| Q4 25 | $10.9M | $-36.3M | ||
| Q3 25 | $14.6M | $-39.0M | ||
| Q2 25 | $-17.6M | $2.0M | ||
| Q1 25 | $-11.4M | $19.5M | ||
| Q4 24 | $50.6M | $-32.3M | ||
| Q3 24 | $43.0M | $-31.3M | ||
| Q2 24 | $29.2M | $13.2M | ||
| Q1 24 | $26.5M | $6.4M |
自由现金流率IPGPUTL
| Q4 25 | 4.0% | -22.5% | ||
| Q3 25 | 5.8% | -38.6% | ||
| Q2 25 | -7.0% | 1.9% | ||
| Q1 25 | -5.0% | 11.4% | ||
| Q4 24 | 21.6% | -25.3% | ||
| Q3 24 | 18.4% | -33.7% | ||
| Q2 24 | 11.3% | 13.8% | ||
| Q1 24 | 10.5% | 3.6% |
资本支出强度IPGPUTL
| Q4 25 | 6.5% | 35.7% | ||
| Q3 25 | 8.3% | 54.0% | ||
| Q2 25 | 6.1% | 39.2% | ||
| Q1 25 | 10.9% | 19.1% | ||
| Q4 24 | 9.9% | 43.6% | ||
| Q3 24 | 9.9% | 61.8% | ||
| Q2 24 | 9.4% | 38.3% | ||
| Q1 24 | 11.1% | 11.3% |
现金转化率IPGPUTL
| Q4 25 | 2.17× | 1.13× | ||
| Q3 25 | 4.73× | — | ||
| Q2 25 | -0.34× | 10.55× | ||
| Q1 25 | 3.58× | 1.89× | ||
| Q4 24 | 9.44× | 1.49× | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.65× | 11.60× | ||
| Q1 24 | 2.27× | 0.98× |
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% |
UTL
暂无分部数据
