vs
Iron Mountain（IRM）与派拓网络（PANW）财务数据对比。点击上方公司名可切换其他公司
派拓网络的季度营收约是Iron Mountain的1.4倍（$2.6B vs $1.8B），派拓网络净利率更高（16.7% vs 5.1%，领先11.6%），Iron Mountain同比增速更快（16.6% vs 14.9%），派拓网络自由现金流更多（$384.0M vs $-16.2M），过去两年派拓网络的营收复合增速更高（14.3% vs 11.7%）
Iron Mountain是1951年成立的美国企业信息管理服务提供商，总部位于新罕布什尔州朴茨茅斯。核心业务涵盖档案管理、信息销毁、数据备份与恢复，服务覆盖全球六大洲58个国家，为超过22万客户提供专业解决方案。
派拓网络（Palo Alto Networks）是总部位于美国加利福尼亚州圣克拉拉的跨国网络安全企业，核心产品包括高级防火墙及拓展其防护能力的云原生安全服务，为全球150多个国家的超7万家机构、含85家财富100强企业提供服务，旗下拥有知名威胁研究团队Unit 42，还举办Ignite网络安全行业峰会。
IRM vs PANW — 直观对比
营收规模更大
PANW
是对方的1.4倍
$1.8B
营收增速更快
IRM
高出1.7%
14.9%
净利率更高
PANW
高出11.6%
5.1%
自由现金流更多
PANW
多$400.2M
$-16.2M
两年增速更快
PANW
近两年复合增速
11.7%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $2.6B |
| 净利润 | $93.1M | $432.0M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 18.5% | 15.3% |
| 净利率 | 5.1% | 16.7% |
| 营收同比 | 16.6% | 14.9% |
| 净利润同比 | -11.9% | 61.6% |
| 每股收益（稀释后） | $0.31 | $0.61 |
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IRMPANW
| Q1 26 | — | $2.6B | ||
| Q4 25 | $1.8B | $2.5B | ||
| Q3 25 | $1.8B | $2.5B | ||
| Q2 25 | $1.7B | $2.3B | ||
| Q1 25 | $1.6B | $2.3B | ||
| Q4 24 | $1.6B | $2.1B | ||
| Q3 24 | $1.6B | $2.2B | ||
| Q2 24 | $1.5B | $2.0B |
净利润IRMPANW
| Q1 26 | — | $432.0M | ||
| Q4 25 | $93.1M | $334.0M | ||
| Q3 25 | $86.2M | $253.8M | ||
| Q2 25 | $-43.3M | $262.1M | ||
| Q1 25 | $16.2M | $267.3M | ||
| Q4 24 | $105.7M | $350.7M | ||
| Q3 24 | $-33.7M | $357.7M | ||
| Q2 24 | $34.6M | $278.8M |
毛利率IRMPANW
| Q1 26 | — | 73.6% | ||
| Q4 25 | — | 74.2% | ||
| Q3 25 | — | 73.2% | ||
| Q2 25 | — | 72.9% | ||
| Q1 25 | — | 73.5% | ||
| Q4 24 | — | 74.1% | ||
| Q3 24 | — | 73.8% | ||
| Q2 24 | — | 74.1% |
营业利润率IRMPANW
| Q1 26 | — | 15.3% | ||
| Q4 25 | 18.5% | 12.5% | ||
| Q3 25 | 17.6% | 19.6% | ||
| Q2 25 | 15.2% | 9.6% | ||
| Q1 25 | 16.0% | 10.6% | ||
| Q4 24 | 17.9% | 13.4% | ||
| Q3 24 | 16.1% | 10.9% | ||
| Q2 24 | 15.0% | 8.9% |
净利率IRMPANW
| Q1 26 | — | 16.7% | ||
| Q4 25 | 5.1% | 13.5% | ||
| Q3 25 | 4.9% | 10.0% | ||
| Q2 25 | -2.5% | 11.5% | ||
| Q1 25 | 1.0% | 11.8% | ||
| Q4 24 | 6.7% | 16.4% | ||
| Q3 24 | -2.2% | 16.3% | ||
| Q2 24 | 2.3% | 14.0% |
每股收益（稀释后）IRMPANW
| Q1 26 | — | $0.61 | ||
| Q4 25 | $0.31 | $0.47 | ||
| Q3 25 | $0.28 | $-0.14 | ||
| Q2 25 | $-0.15 | $0.37 | ||
| Q1 25 | $0.05 | $0.38 | ||
| Q4 24 | $0.35 | $0.99 | ||
| Q3 24 | $-0.11 | $1.04 | ||
| Q2 24 | $0.12 | $0.79 |
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 | $158.5M | $4.5B |
| 总债务越低越好 | $16.2B | — |
| 股东权益账面价值 | $-981.0M | $9.4B |
| 总资产 | $21.1B | $25.0B |
| 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IRMPANW
| Q1 26 | — | $4.5B | ||
| Q4 25 | $158.5M | $4.2B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $3.3B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | $155.7M | $3.4B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.9B |
总债务IRMPANW
| Q1 26 | — | — | ||
| Q4 25 | $16.2B | — | ||
| Q3 25 | $15.5B | — | ||
| Q2 25 | $14.8B | — | ||
| Q1 25 | $14.2B | — | ||
| Q4 24 | $13.0B | — | ||
| Q3 24 | $13.2B | — | ||
| Q2 24 | $12.8B | — |
股东权益IRMPANW
| Q1 26 | — | $9.4B | ||
| Q4 25 | $-981.0M | $8.7B | ||
| Q3 25 | $-882.0M | $7.8B | ||
| Q2 25 | $-767.4M | $7.2B | ||
| Q1 25 | $-698.5M | $6.4B | ||
| Q4 24 | $-503.1M | $5.9B | ||
| Q3 24 | $-259.0M | $5.2B | ||
| Q2 24 | $-132.9M | $4.5B |
总资产IRMPANW
| Q1 26 | — | $25.0B | ||
| Q4 25 | $21.1B | $23.5B | ||
| Q3 25 | $20.6B | $23.6B | ||
| Q2 25 | $20.2B | $22.0B | ||
| Q1 25 | $19.4B | $21.0B | ||
| Q4 24 | $18.7B | $20.4B | ||
| Q3 24 | $18.5B | $20.0B | ||
| Q2 24 | $18.0B | $17.9B |
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 | $500.0M | $554.0M |
| 自由现金流经营现金流 - 资本支出 | $-16.2M | $384.0M |
| 自由现金流率自由现金流/营收 | -0.9% | 14.8% |
| 资本支出强度资本支出/营收 | 28.0% | 6.6% |
| 现金转化率经营现金流/净利润 | 5.37× | 1.28× |
| 过去12个月自由现金流最近4个季度 | $-931.6M | $3.6B |
8季度趋势，按日历期对齐
经营现金流IRMPANW
| Q1 26 | — | $554.0M | ||
| Q4 25 | $500.0M | $1.8B | ||
| Q3 25 | $267.6M | $1.0B | ||
| Q2 25 | $375.1M | $628.7M | ||
| Q1 25 | $197.3M | $556.9M | ||
| Q4 24 | $431.6M | $1.5B | ||
| Q3 24 | $252.9M | $512.7M | ||
| Q2 24 | $382.2M | $528.9M |
自由现金流IRMPANW
| Q1 26 | — | $384.0M | ||
| Q4 25 | $-16.2M | $1.7B | ||
| Q3 25 | $-256.3M | $934.5M | ||
| Q2 25 | $-181.6M | $560.4M | ||
| Q1 25 | $-477.5M | $509.4M | ||
| Q4 24 | $-186.0M | $1.5B | ||
| Q3 24 | $-143.2M | $465.3M | ||
| Q2 24 | $-14.6M | $491.5M |
自由现金流率IRMPANW
| Q1 26 | — | 14.8% | ||
| Q4 25 | -0.9% | 68.2% | ||
| Q3 25 | -14.6% | 36.8% | ||
| Q2 25 | -10.6% | 24.5% | ||
| Q1 25 | -30.0% | 22.6% | ||
| Q4 24 | -11.8% | 68.5% | ||
| Q3 24 | -9.2% | 21.3% | ||
| Q2 24 | -1.0% | 24.8% |
资本支出强度IRMPANW
| Q1 26 | — | 6.6% | ||
| Q4 25 | 28.0% | 3.4% | ||
| Q3 25 | 29.9% | 3.4% | ||
| Q2 25 | 32.5% | 3.0% | ||
| Q1 25 | 42.4% | 2.1% | ||
| Q4 24 | 39.1% | 2.1% | ||
| Q3 24 | 25.4% | 2.2% | ||
| Q2 24 | 25.9% | 1.9% |
现金转化率IRMPANW
| Q1 26 | — | 1.28× | ||
| Q4 25 | 5.37× | 5.30× | ||
| Q3 25 | 3.10× | 4.02× | ||
| Q2 25 | — | 2.40× | ||
| Q1 25 | 12.15× | 2.08× | ||
| Q4 24 | 4.08× | 4.30× | ||
| Q3 24 | — | 1.43× | ||
| Q2 24 | 11.04× | 1.90× |
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
IRM
| Storage Rental | $1.1B | 58% |
| Services | $781.9M | 42% |
PANW
| Subscription | $1.4B | 54% |
| Support | $676.0M | 26% |
| Products | $514.0M | 20% |
