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IPG PHOTONICS CORP（IPGP）与WAFD INC（WAFD）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WAFD INC的1.4倍（$274.5M vs $191.4M），WAFD INC净利率更高（33.5% vs 4.8%，领先28.7%），IPG PHOTONICS CORP同比增速更快（17.1% vs 11.8%），WAFD INC自由现金流更多（$50.0M vs $10.9M），过去两年WAFD INC的营收复合增速更高（5.5% 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。
WAFD银行总部位于美国华盛顿州西雅图市，是美国头部银行之一，业务覆盖华盛顿州、俄勒冈州、爱达荷州、内华达州、犹他州、亚利桑那州、新墨西哥州、加利福尼亚州及得克萨斯州，共设有210家实体营业网点，为多州客户提供专业金融服务。
IPGP vs WAFD — 直观对比
营收规模更大
IPGP
是对方的1.4倍
$191.4M
营收增速更快
IPGP
高出5.3%
11.8%
净利率更高
WAFD
高出28.7%
4.8%
自由现金流更多
WAFD
多$39.1M
$10.9M
两年增速更快
WAFD
近两年复合增速
4.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $274.5M | $191.4M |
| 净利润 | $13.3M | $64.2M |
| 毛利率 | 36.1% | — |
| 营业利润率 | 1.2% | 43.0% |
| 净利率 | 4.8% | 33.5% |
| 营收同比 | 17.1% | 11.8% |
| 净利润同比 | 69.8% | 35.8% |
| 每股收益（稀释后） | $0.30 | $0.79 |
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IPGPWAFD
| Q4 25 | $274.5M | $191.4M | ||
| Q3 25 | $250.8M | $188.3M | ||
| Q2 25 | $250.7M | $186.3M | ||
| Q1 25 | $227.8M | $179.8M | ||
| Q4 24 | $234.3M | $171.1M | ||
| Q3 24 | $233.1M | $188.7M | ||
| Q2 24 | $257.6M | $194.4M | ||
| Q1 24 | $252.0M | $172.0M |
净利润IPGPWAFD
| Q4 25 | $13.3M | $64.2M | ||
| Q3 25 | $7.5M | $60.6M | ||
| Q2 25 | $6.6M | $62.0M | ||
| Q1 25 | $3.8M | $56.3M | ||
| Q4 24 | $7.8M | $47.3M | ||
| Q3 24 | $-233.6M | $61.1M | ||
| Q2 24 | $20.2M | $64.6M | ||
| Q1 24 | $24.1M | $15.9M |
毛利率IPGPWAFD
| 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IPGPWAFD
| Q4 25 | 1.2% | 43.0% | ||
| Q3 25 | 3.1% | 41.2% | ||
| Q2 25 | 0.0% | 42.8% | ||
| Q1 25 | 0.8% | 40.1% | ||
| Q4 24 | 6.0% | 35.2% | ||
| Q3 24 | -108.7% | 42.8% | ||
| Q2 24 | 4.7% | 42.6% | ||
| Q1 24 | 7.6% | 12.2% |
净利率IPGPWAFD
| Q4 25 | 4.8% | 33.5% | ||
| Q3 25 | 3.0% | 32.2% | ||
| Q2 25 | 2.6% | 33.3% | ||
| Q1 25 | 1.6% | 31.3% | ||
| Q4 24 | 3.3% | 27.6% | ||
| Q3 24 | -100.2% | 32.4% | ||
| Q2 24 | 7.8% | 33.2% | ||
| Q1 24 | 9.6% | 9.2% |
每股收益（稀释后）IPGPWAFD
| Q4 25 | $0.30 | $0.79 | ||
| Q3 25 | $0.18 | $0.71 | ||
| Q2 25 | $0.16 | $0.73 | ||
| Q1 25 | $0.09 | $0.65 | ||
| Q4 24 | $0.27 | $0.54 | ||
| Q3 24 | $-5.33 | $0.73 | ||
| Q2 24 | $0.45 | $0.75 | ||
| Q1 24 | $0.52 | $0.17 |
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 | $734.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.1B | $3.0B |
| 总资产 | $2.4B | $27.3B |
| 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IPGPWAFD
| Q4 25 | $839.3M | $734.9M | ||
| Q3 25 | $870.4M | $657.3M | ||
| Q2 25 | $899.6M | $809.3M | ||
| Q1 25 | $926.9M | $1.2B | ||
| Q4 24 | $930.2M | $1.5B | ||
| Q3 24 | $1.0B | $2.4B | ||
| Q2 24 | $1.1B | $2.5B | ||
| Q1 24 | $1.1B | $1.5B |
股东权益IPGPWAFD
| Q4 25 | $2.1B | $3.0B | ||
| Q3 25 | $2.1B | $3.0B | ||
| Q2 25 | $2.1B | $3.0B | ||
| Q1 25 | $2.1B | $3.0B | ||
| Q4 24 | $2.0B | $3.0B | ||
| Q3 24 | $2.1B | $3.0B | ||
| Q2 24 | $2.3B | $3.0B | ||
| Q1 24 | $2.3B | $2.9B |
总资产IPGPWAFD
| Q4 25 | $2.4B | $27.3B | ||
| Q3 25 | $2.4B | $26.7B | ||
| Q2 25 | $2.4B | $26.7B | ||
| Q1 25 | $2.3B | $27.6B | ||
| Q4 24 | $2.3B | $27.7B | ||
| Q3 24 | $2.4B | $28.1B | ||
| Q2 24 | $2.5B | $28.6B | ||
| Q1 24 | $2.6B | $30.1B |
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 | $60.5M |
| 自由现金流经营现金流 - 资本支出 | $10.9M | $50.0M |
| 自由现金流率自由现金流/营收 | 4.0% | 26.1% |
| 资本支出强度资本支出/营收 | 6.5% | 5.5% |
| 现金转化率经营现金流/净利润 | 2.17× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $-3.5M | $377.9M |
8季度趋势，按日历期对齐
经营现金流IPGPWAFD
| Q4 25 | $28.8M | $60.5M | ||
| Q3 25 | $35.3M | $237.0M | ||
| Q2 25 | $-2.2M | $58.0M | ||
| Q1 25 | $13.4M | $72.1M | ||
| Q4 24 | $73.8M | $49.4M | ||
| Q3 24 | $66.1M | $439.2M | ||
| Q2 24 | $53.5M | $63.1M | ||
| Q1 24 | $54.6M | $169.2M |
自由现金流IPGPWAFD
| Q4 25 | $10.9M | $50.0M | ||
| Q3 25 | $14.6M | $208.2M | ||
| Q2 25 | $-17.6M | $53.1M | ||
| Q1 25 | $-11.4M | $66.6M | ||
| Q4 24 | $50.6M | $43.0M | ||
| Q3 24 | $43.0M | $414.6M | ||
| Q2 24 | $29.2M | $58.3M | ||
| Q1 24 | $26.5M | $164.8M |
自由现金流率IPGPWAFD
| Q4 25 | 4.0% | 26.1% | ||
| Q3 25 | 5.8% | 110.6% | ||
| Q2 25 | -7.0% | 28.5% | ||
| Q1 25 | -5.0% | 37.0% | ||
| Q4 24 | 21.6% | 25.1% | ||
| Q3 24 | 18.4% | 219.7% | ||
| Q2 24 | 11.3% | 30.0% | ||
| Q1 24 | 10.5% | 95.8% |
资本支出强度IPGPWAFD
| Q4 25 | 6.5% | 5.5% | ||
| Q3 25 | 8.3% | 15.2% | ||
| Q2 25 | 6.1% | 2.6% | ||
| Q1 25 | 10.9% | 3.1% | ||
| Q4 24 | 9.9% | 3.8% | ||
| Q3 24 | 9.9% | 13.1% | ||
| Q2 24 | 9.4% | 2.5% | ||
| Q1 24 | 11.1% | 2.6% |
现金转化率IPGPWAFD
| Q4 25 | 2.17× | 0.94× | ||
| Q3 25 | 4.73× | 3.91× | ||
| Q2 25 | -0.34× | 0.94× | ||
| Q1 25 | 3.58× | 1.28× | ||
| Q4 24 | 9.44× | 1.05× | ||
| Q3 24 | — | 7.18× | ||
| Q2 24 | 2.65× | 0.98× | ||
| Q1 24 | 2.27× | 10.65× |
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% |
WAFD
暂无分部数据
