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IPG PHOTONICS CORP（IPGP）与EXPRO GROUP HOLDINGS N.V.（XPRO）财务数据对比。点击上方公司名可切换其他公司
EXPRO GROUP HOLDINGS N.V.的季度营收约是IPG PHOTONICS CORP的1.3倍（$367.6M vs $274.5M），IPG PHOTONICS CORP同比增速更快（17.1% vs -6.0%），EXPRO GROUP HOLDINGS N.V.自由现金流更多（$23.2M vs $10.9M），过去两年IPG PHOTONICS CORP的营收复合增速更高（4.4% vs -11.5%）
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。
Expro是一家能源服务提供商，总部位于美国得克萨斯州休斯敦，主要为油气等能源领域的客户提供相关技术服务与解决方案，业务覆盖全球多个主要能源产区，助力行业实现高效、安全的开发运营。
IPGP vs XPRO — 直观对比
营收规模更大
XPRO
是对方的1.3倍
$274.5M
营收增速更快
IPGP
高出23.1%
-6.0%
自由现金流更多
XPRO
多$12.3M
$10.9M
两年增速更快
IPGP
近两年复合增速
-11.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $274.5M | $367.6M |
| 净利润 | $13.3M | — |
| 毛利率 | 36.1% | 6.7% |
| 营业利润率 | 1.2% | 0.0% |
| 净利率 | 4.8% | — |
| 营收同比 | 17.1% | -6.0% |
| 净利润同比 | 69.8% | — |
| 每股收益（稀释后） | $0.30 | $0.05 |
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IPGPXPRO
| Q1 26 | — | $367.6M | ||
| Q4 25 | $274.5M | $382.1M | ||
| Q3 25 | $250.8M | $411.4M | ||
| Q2 25 | $250.7M | $422.7M | ||
| Q1 25 | $227.8M | $390.9M | ||
| Q4 24 | $234.3M | $436.8M | ||
| Q3 24 | $233.1M | $422.8M | ||
| Q2 24 | $257.6M | $469.6M |
净利润IPGPXPRO
| Q1 26 | — | — | ||
| Q4 25 | $13.3M | $5.8M | ||
| Q3 25 | $7.5M | $14.0M | ||
| Q2 25 | $6.6M | $18.0M | ||
| Q1 25 | $3.8M | $13.9M | ||
| Q4 24 | $7.8M | $23.0M | ||
| Q3 24 | $-233.6M | $16.3M | ||
| Q2 24 | $20.2M | $15.3M |
毛利率IPGPXPRO
| Q1 26 | — | 6.7% | ||
| 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% | — |
营业利润率IPGPXPRO
| Q1 26 | — | 0.0% | ||
| Q4 25 | 1.2% | 3.1% | ||
| Q3 25 | 3.1% | 6.4% | ||
| Q2 25 | 0.0% | 7.7% | ||
| Q1 25 | 0.8% | 2.6% | ||
| Q4 24 | 6.0% | 7.3% | ||
| Q3 24 | -108.7% | 6.2% | ||
| Q2 24 | 4.7% | 5.9% |
净利率IPGPXPRO
| Q1 26 | — | — | ||
| Q4 25 | 4.8% | 1.5% | ||
| Q3 25 | 3.0% | 3.4% | ||
| Q2 25 | 2.6% | 4.3% | ||
| Q1 25 | 1.6% | 3.6% | ||
| Q4 24 | 3.3% | 5.3% | ||
| Q3 24 | -100.2% | 3.8% | ||
| Q2 24 | 7.8% | 3.3% |
每股收益（稀释后）IPGPXPRO
| Q1 26 | — | $0.05 | ||
| Q4 25 | $0.30 | $0.05 | ||
| Q3 25 | $0.18 | $0.12 | ||
| Q2 25 | $0.16 | $0.16 | ||
| Q1 25 | $0.09 | $0.12 | ||
| Q4 24 | $0.27 | $0.20 | ||
| Q3 24 | $-5.33 | $0.14 | ||
| Q2 24 | $0.45 | $0.13 |
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 | $170.7M |
| 总债务越低越好 | — | $79.1M |
| 股东权益账面价值 | $2.1B | $1.5B |
| 总资产 | $2.4B | $2.2B |
| 负债/权益比越低杠杆越低 | — | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资IPGPXPRO
| Q1 26 | — | $170.7M | ||
| Q4 25 | $839.3M | $196.1M | ||
| Q3 25 | $870.4M | $197.9M | ||
| Q2 25 | $899.6M | $206.8M | ||
| Q1 25 | $926.9M | $179.3M | ||
| Q4 24 | $930.2M | $183.0M | ||
| Q3 24 | $1.0B | $165.7M | ||
| Q2 24 | $1.1B | $133.5M |
总债务IPGPXPRO
| Q1 26 | — | $79.1M | ||
| Q4 25 | — | $79.1M | ||
| Q3 25 | — | $99.1M | ||
| Q2 25 | — | $121.1M | ||
| Q1 25 | — | $121.1M | ||
| Q4 24 | — | $121.1M | ||
| Q3 24 | — | $121.1M | ||
| Q2 24 | — | $121.1M |
股东权益IPGPXPRO
| Q1 26 | — | $1.5B | ||
| Q4 25 | $2.1B | $1.5B | ||
| Q3 25 | $2.1B | $1.5B | ||
| Q2 25 | $2.1B | $1.5B | ||
| Q1 25 | $2.1B | $1.5B | ||
| Q4 24 | $2.0B | $1.5B | ||
| Q3 24 | $2.1B | $1.5B | ||
| Q2 24 | $2.3B | $1.5B |
总资产IPGPXPRO
| Q1 26 | — | $2.2B | ||
| Q4 25 | $2.4B | $2.3B | ||
| Q3 25 | $2.4B | $2.3B | ||
| Q2 25 | $2.4B | $2.3B | ||
| Q1 25 | $2.3B | $2.3B | ||
| Q4 24 | $2.3B | $2.3B | ||
| Q3 24 | $2.4B | $2.3B | ||
| Q2 24 | $2.5B | $2.3B |
负债/权益比IPGPXPRO
| Q1 26 | — | 0.05× | ||
| Q4 25 | — | 0.05× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | 0.08× | ||
| Q2 24 | — | 0.08× |
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 | $25.3M |
| 自由现金流经营现金流 - 资本支出 | $10.9M | $23.2M |
| 自由现金流率自由现金流/营收 | 4.0% | 6.3% |
| 资本支出强度资本支出/营收 | 6.5% | 1.2% |
| 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 | $112.6M |
8季度趋势，按日历期对齐
经营现金流IPGPXPRO
| Q1 26 | — | $25.3M | ||
| Q4 25 | $28.8M | $57.1M | ||
| Q3 25 | $35.3M | $63.2M | ||
| Q2 25 | $-2.2M | $48.4M | ||
| Q1 25 | $13.4M | $41.5M | ||
| Q4 24 | $73.8M | $97.4M | ||
| Q3 24 | $66.1M | $55.3M | ||
| Q2 24 | $53.5M | $-13.2M |
自由现金流IPGPXPRO
| Q1 26 | — | $23.2M | ||
| Q4 25 | $10.9M | $23.2M | ||
| Q3 25 | $14.6M | $39.0M | ||
| Q2 25 | $-17.6M | $27.2M | ||
| Q1 25 | $-11.4M | $8.4M | ||
| Q4 24 | $50.6M | $53.0M | ||
| Q3 24 | $43.0M | $23.3M | ||
| Q2 24 | $29.2M | $-49.5M |
自由现金流率IPGPXPRO
| Q1 26 | — | 6.3% | ||
| Q4 25 | 4.0% | 6.1% | ||
| Q3 25 | 5.8% | 9.5% | ||
| Q2 25 | -7.0% | 6.4% | ||
| Q1 25 | -5.0% | 2.1% | ||
| Q4 24 | 21.6% | 12.1% | ||
| Q3 24 | 18.4% | 5.5% | ||
| Q2 24 | 11.3% | -10.5% |
资本支出强度IPGPXPRO
| Q1 26 | — | 1.2% | ||
| Q4 25 | 6.5% | 8.9% | ||
| Q3 25 | 8.3% | 5.9% | ||
| Q2 25 | 6.1% | 5.0% | ||
| Q1 25 | 10.9% | 8.5% | ||
| Q4 24 | 9.9% | 10.2% | ||
| Q3 24 | 9.9% | 7.6% | ||
| Q2 24 | 9.4% | 7.7% |
现金转化率IPGPXPRO
| Q1 26 | — | — | ||
| Q4 25 | 2.17× | 9.89× | ||
| Q3 25 | 4.73× | 4.52× | ||
| Q2 25 | -0.34× | 2.69× | ||
| Q1 25 | 3.58× | 2.98× | ||
| Q4 24 | 9.44× | 4.23× | ||
| Q3 24 | — | 3.40× | ||
| Q2 24 | 2.65× | -0.86× |
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% |
XPRO
暂无分部数据
