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IPG PHOTONICS CORP（IPGP）与Zurn Elkay Water Solutions Corp（ZWS）财务数据对比。点击上方公司名可切换其他公司
Zurn Elkay Water Solutions Corp的季度营收约是IPG PHOTONICS CORP的1.5倍（$407.2M vs $274.5M），Zurn Elkay Water Solutions Corp净利率更高（10.3% vs 4.8%，领先5.5%），IPG PHOTONICS CORP同比增速更快（17.1% vs 9.8%），过去两年Zurn Elkay Water Solutions Corp的营收复合增速更高（4.4% 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。
Zurn Elkay Water Solutions是一家专业水资源管理解决方案提供商，主要生产销售商用给排水设备、饮用水系统、过滤产品及流量控制组件，服务北美及全球的商用、住宅、工业和公共基建领域，主打高效节水的可持续产品。
IPGP vs ZWS — 直观对比
营收规模更大
ZWS
是对方的1.5倍
$274.5M
营收增速更快
IPGP
高出7.3%
9.8%
净利率更高
ZWS
高出5.5%
4.8%
两年增速更快
ZWS
近两年复合增速
4.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $274.5M | $407.2M |
| 净利润 | $13.3M | $42.1M |
| 毛利率 | 36.1% | 44.4% |
| 营业利润率 | 1.2% | 14.8% |
| 净利率 | 4.8% | 10.3% |
| 营收同比 | 17.1% | 9.8% |
| 净利润同比 | 69.8% | 15.7% |
| 每股收益（稀释后） | $0.30 | $0.24 |
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IPGPZWS
| Q4 25 | $274.5M | $407.2M | ||
| Q3 25 | $250.8M | $455.4M | ||
| Q2 25 | $250.7M | $444.5M | ||
| Q1 25 | $227.8M | $388.8M | ||
| Q4 24 | $234.3M | $370.7M | ||
| Q3 24 | $233.1M | $410.0M | ||
| Q2 24 | $257.6M | $412.0M | ||
| Q1 24 | $252.0M | $373.8M |
净利润IPGPZWS
| Q4 25 | $13.3M | $42.1M | ||
| Q3 25 | $7.5M | $61.8M | ||
| Q2 25 | $6.6M | $50.5M | ||
| Q1 25 | $3.8M | $43.6M | ||
| Q4 24 | $7.8M | $36.4M | ||
| Q3 24 | $-233.6M | $43.5M | ||
| Q2 24 | $20.2M | $46.0M | ||
| Q1 24 | $24.1M | $34.3M |
毛利率IPGPZWS
| Q4 25 | 36.1% | 44.4% | ||
| Q3 25 | 39.5% | 44.1% | ||
| Q2 25 | 37.3% | 45.5% | ||
| Q1 25 | 39.4% | 46.6% | ||
| Q4 24 | 38.6% | 43.5% | ||
| Q3 24 | 23.2% | 46.2% | ||
| Q2 24 | 37.3% | 45.2% | ||
| Q1 24 | 38.7% | 45.5% |
营业利润率IPGPZWS
| Q4 25 | 1.2% | 14.8% | ||
| Q3 25 | 3.1% | 17.0% | ||
| Q2 25 | 0.0% | 17.5% | ||
| Q1 25 | 0.8% | 16.3% | ||
| Q4 24 | 6.0% | 13.3% | ||
| Q3 24 | -108.7% | 17.1% | ||
| Q2 24 | 4.7% | 17.5% | ||
| Q1 24 | 7.6% | 14.2% |
净利率IPGPZWS
| Q4 25 | 4.8% | 10.3% | ||
| Q3 25 | 3.0% | 13.6% | ||
| Q2 25 | 2.6% | 11.4% | ||
| Q1 25 | 1.6% | 11.2% | ||
| Q4 24 | 3.3% | 9.8% | ||
| Q3 24 | -100.2% | 10.6% | ||
| Q2 24 | 7.8% | 11.2% | ||
| Q1 24 | 9.6% | 9.2% |
每股收益（稀释后）IPGPZWS
| Q4 25 | $0.30 | $0.24 | ||
| Q3 25 | $0.18 | $0.36 | ||
| Q2 25 | $0.16 | $0.29 | ||
| Q1 25 | $0.09 | $0.26 | ||
| Q4 24 | $0.27 | $0.21 | ||
| Q3 24 | $-5.33 | $0.25 | ||
| Q2 24 | $0.45 | $0.27 | ||
| Q1 24 | $0.52 | $0.19 |
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 | $300.5M |
| 总债务越低越好 | — | $496.5M |
| 股东权益账面价值 | $2.1B | $1.6B |
| 总资产 | $2.4B | $2.7B |
| 负债/权益比越低杠杆越低 | — | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资IPGPZWS
| Q4 25 | $839.3M | $300.5M | ||
| Q3 25 | $870.4M | $260.1M | ||
| Q2 25 | $899.6M | $201.9M | ||
| Q1 25 | $926.9M | $144.7M | ||
| Q4 24 | $930.2M | $198.0M | ||
| Q3 24 | $1.0B | $187.9M | ||
| Q2 24 | $1.1B | $162.7M | ||
| Q1 24 | $1.1B | $157.1M |
总债务IPGPZWS
| Q4 25 | — | $496.5M | ||
| Q3 25 | — | $496.4M | ||
| Q2 25 | — | $495.9M | ||
| Q1 25 | — | $495.8M | ||
| Q4 24 | — | $495.6M | ||
| Q3 24 | — | $495.6M | ||
| Q2 24 | — | $495.5M | ||
| Q1 24 | — | $495.4M |
股东权益IPGPZWS
| Q4 25 | $2.1B | $1.6B | ||
| Q3 25 | $2.1B | $1.6B | ||
| Q2 25 | $2.1B | $1.6B | ||
| Q1 25 | $2.1B | $1.5B | ||
| Q4 24 | $2.0B | $1.6B | ||
| Q3 24 | $2.1B | $1.6B | ||
| Q2 24 | $2.3B | $1.6B | ||
| Q1 24 | $2.3B | $1.6B |
总资产IPGPZWS
| Q4 25 | $2.4B | $2.7B | ||
| Q3 25 | $2.4B | $2.7B | ||
| Q2 25 | $2.4B | $2.7B | ||
| Q1 25 | $2.3B | $2.6B | ||
| Q4 24 | $2.3B | $2.6B | ||
| Q3 24 | $2.4B | $2.7B | ||
| Q2 24 | $2.5B | $2.7B | ||
| Q1 24 | $2.6B | $2.7B |
负债/权益比IPGPZWS
| Q4 25 | — | 0.31× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.32× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.31× | ||
| Q3 24 | — | 0.31× | ||
| Q2 24 | — | 0.31× | ||
| Q1 24 | — | 0.31× |
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 | $91.7M |
| 自由现金流经营现金流 - 资本支出 | $10.9M | — |
| 自由现金流率自由现金流/营收 | 4.0% | — |
| 资本支出强度资本支出/营收 | 6.5% | — |
| 现金转化率经营现金流/净利润 | 2.17× | 2.18× |
| 过去12个月自由现金流最近4个季度 | $-3.5M | — |
8季度趋势，按日历期对齐
经营现金流IPGPZWS
| Q4 25 | $28.8M | $91.7M | ||
| Q3 25 | $35.3M | $101.3M | ||
| Q2 25 | $-2.2M | $110.6M | ||
| Q1 25 | $13.4M | $42.9M | ||
| Q4 24 | $73.8M | $63.6M | ||
| Q3 24 | $66.1M | $90.9M | ||
| Q2 24 | $53.5M | $85.1M | ||
| Q1 24 | $54.6M | $53.9M |
自由现金流IPGPZWS
| Q4 25 | $10.9M | — | ||
| Q3 25 | $14.6M | — | ||
| Q2 25 | $-17.6M | — | ||
| Q1 25 | $-11.4M | — | ||
| Q4 24 | $50.6M | — | ||
| Q3 24 | $43.0M | — | ||
| Q2 24 | $29.2M | — | ||
| Q1 24 | $26.5M | — |
自由现金流率IPGPZWS
| Q4 25 | 4.0% | — | ||
| Q3 25 | 5.8% | — | ||
| Q2 25 | -7.0% | — | ||
| Q1 25 | -5.0% | — | ||
| Q4 24 | 21.6% | — | ||
| Q3 24 | 18.4% | — | ||
| Q2 24 | 11.3% | — | ||
| Q1 24 | 10.5% | — |
资本支出强度IPGPZWS
| Q4 25 | 6.5% | — | ||
| Q3 25 | 8.3% | — | ||
| Q2 25 | 6.1% | — | ||
| Q1 25 | 10.9% | — | ||
| Q4 24 | 9.9% | — | ||
| Q3 24 | 9.9% | — | ||
| Q2 24 | 9.4% | — | ||
| Q1 24 | 11.1% | — |
现金转化率IPGPZWS
| Q4 25 | 2.17× | 2.18× | ||
| Q3 25 | 4.73× | 1.64× | ||
| Q2 25 | -0.34× | 2.19× | ||
| Q1 25 | 3.58× | 0.98× | ||
| Q4 24 | 9.44× | 1.75× | ||
| Q3 24 | — | 2.09× | ||
| Q2 24 | 2.65× | 1.85× | ||
| Q1 24 | 2.27× | 1.57× |
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% |
ZWS
暂无分部数据
