vs
高德纳（IT）与泰佩思琦（TPR）财务数据对比。点击上方公司名可切换其他公司
泰佩思琦的季度营收约是高德纳的1.4倍（$2.5B vs $1.8B），泰佩思琦净利率更高（22.4% vs 13.8%，领先8.6%），泰佩思琦同比增速更快（14.0% vs 2.2%），泰佩思琦自由现金流更多（$1.0B vs $270.7M），过去两年泰佩思琦的营收复合增速更高（29.9% vs 9.1%）
高德纳是美国专注于商业与科技领域的研究咨询机构，服务客户覆盖大型企业、政府机构、科技公司、投资机构等群体，通过输出研究报告、举办行业峰会、提供定制咨询等形式，为客户决策提供权威专业的洞见支撑。
Tapestry, Inc.是美国知名跨国奢侈品时尚控股企业，旗下拥有Coach、Kate Spade New York、Stuart Weitzman三大标志性生活方式品牌，主营高端手袋、服饰、鞋履、配饰及香水产品，销售渠道覆盖全球线下门店与线上电商平台。
IT vs TPR — 直观对比
营收规模更大
TPR
是对方的1.4倍
$1.8B
营收增速更快
TPR
高出11.8%
2.2%
净利率更高
TPR
高出8.6%
13.8%
自由现金流更多
TPR
多$766.8M
$270.7M
两年增速更快
TPR
近两年复合增速
9.1%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $2.5B |
| 净利润 | $242.2M | $561.3M |
| 毛利率 | 67.8% | 75.5% |
| 营业利润率 | 19.1% | 28.6% |
| 净利率 | 13.8% | 22.4% |
| 营收同比 | 2.2% | 14.0% |
| 净利润同比 | -39.2% | 80.8% |
| 每股收益（稀释后） | $3.36 | $2.68 |
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ITTPR
| Q4 25 | $1.8B | $2.5B | ||
| Q3 25 | $1.5B | $1.7B | ||
| Q2 25 | $1.7B | $1.7B | ||
| Q1 25 | $1.5B | $1.6B | ||
| Q4 24 | $1.7B | $2.2B | ||
| Q3 24 | $1.5B | $1.5B | ||
| Q2 24 | $1.6B | $1.6B | ||
| Q1 24 | $1.5B | $1.5B |
净利润ITTPR
| Q4 25 | $242.2M | $561.3M | ||
| Q3 25 | $35.4M | $274.8M | ||
| Q2 25 | $240.8M | $-517.1M | ||
| Q1 25 | $210.9M | $203.3M | ||
| Q4 24 | $398.6M | $310.4M | ||
| Q3 24 | $415.0M | $186.6M | ||
| Q2 24 | $229.5M | $159.3M | ||
| Q1 24 | $210.5M | $139.4M |
毛利率ITTPR
| Q4 25 | 67.8% | 75.5% | ||
| Q3 25 | 69.3% | 76.3% | ||
| Q2 25 | 68.6% | 76.3% | ||
| Q1 25 | 69.4% | 76.1% | ||
| Q4 24 | 66.8% | 74.4% | ||
| Q3 24 | 68.4% | 75.3% | ||
| Q2 24 | 68.6% | 74.9% | ||
| Q1 24 | 69.4% | 74.7% |
营业利润率ITTPR
| Q4 25 | 19.1% | 28.6% | ||
| Q3 25 | 5.7% | 19.3% | ||
| Q2 25 | 19.4% | -33.9% | ||
| Q1 25 | 18.1% | 16.0% | ||
| Q4 24 | 18.5% | 22.4% | ||
| Q3 24 | 16.6% | 16.7% | ||
| Q2 24 | 20.0% | 14.8% | ||
| Q1 24 | 18.6% | 13.8% |
净利率ITTPR
| Q4 25 | 13.8% | 22.4% | ||
| Q3 25 | 2.3% | 16.1% | ||
| Q2 25 | 14.3% | -30.0% | ||
| Q1 25 | 13.7% | 12.8% | ||
| Q4 24 | 23.2% | 14.1% | ||
| Q3 24 | 28.0% | 12.4% | ||
| Q2 24 | 14.4% | 10.0% | ||
| Q1 24 | 14.3% | 9.4% |
每股收益（稀释后）ITTPR
| Q4 25 | $3.36 | $2.68 | ||
| Q3 25 | $0.47 | $1.28 | ||
| Q2 25 | $3.11 | $-2.30 | ||
| Q1 25 | $2.71 | $0.95 | ||
| Q4 24 | $5.08 | $1.38 | ||
| Q3 24 | $5.32 | $0.79 | ||
| Q2 24 | $2.93 | $0.67 | ||
| Q1 24 | $2.67 | $0.60 |
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 | $1.7B | $1.1B |
| 总债务越低越好 | — | $2.4B |
| 股东权益账面价值 | $319.9M | $551.2M |
| 总资产 | $8.1B | $6.5B |
| 负债/权益比越低杠杆越低 | — | 4.32× |
8季度趋势，按日历期对齐
现金及短期投资ITTPR
| Q4 25 | $1.7B | $1.1B | ||
| Q3 25 | $1.4B | $743.2M | ||
| Q2 25 | $2.2B | $1.1B | ||
| Q1 25 | $2.1B | $1.1B | ||
| Q4 24 | $1.9B | $1.0B | ||
| Q3 24 | $1.8B | $7.3B | ||
| Q2 24 | $1.2B | $7.2B | ||
| Q1 24 | $1.2B | $7.4B |
总债务ITTPR
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $7.0B | ||
| Q2 24 | — | $6.9B | ||
| Q1 24 | — | $7.7B |
股东权益ITTPR
| Q4 25 | $319.9M | $551.2M | ||
| Q3 25 | $556.6M | $399.5M | ||
| Q2 25 | $1.5B | $857.8M | ||
| Q1 25 | $1.5B | $1.5B | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | $1.1B | $3.0B | ||
| Q2 24 | $646.7M | $2.9B | ||
| Q1 24 | $718.2M | $2.8B |
总资产ITTPR
| Q4 25 | $8.1B | $6.5B | ||
| Q3 25 | $7.2B | $6.4B | ||
| Q2 25 | $8.3B | $6.6B | ||
| Q1 25 | $8.5B | $7.3B | ||
| Q4 24 | $8.5B | $7.3B | ||
| Q3 24 | $7.8B | $13.7B | ||
| Q2 24 | $7.4B | $13.4B | ||
| Q1 24 | $7.7B | $13.7B |
负债/权益比ITTPR
| Q4 25 | — | 4.32× | ||
| Q3 25 | — | 5.95× | ||
| Q2 25 | — | 2.77× | ||
| Q1 25 | — | 1.59× | ||
| Q4 24 | — | 1.78× | ||
| Q3 24 | — | 2.35× | ||
| Q2 24 | — | 2.39× | ||
| Q1 24 | — | 2.77× |
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 | $294.5M | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $270.7M | $1.0B |
| 自由现金流率自由现金流/营收 | 15.4% | 41.5% |
| 资本支出强度资本支出/营收 | 1.4% | 1.7% |
| 现金转化率经营现金流/净利润 | 1.22× | 1.93× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $1.6B |
8季度趋势，按日历期对齐
经营现金流ITTPR
| Q4 25 | $294.5M | $1.1B | ||
| Q3 25 | $298.7M | $112.6M | ||
| Q2 25 | $383.6M | $446.8M | ||
| Q1 25 | $313.5M | $144.3M | ||
| Q4 24 | $335.4M | $506.0M | ||
| Q3 24 | $590.8M | $119.5M | ||
| Q2 24 | $370.0M | $256.0M | ||
| Q1 24 | $188.8M | $97.8M |
自由现金流ITTPR
| Q4 25 | $270.7M | $1.0B | ||
| Q3 25 | $269.3M | $80.2M | ||
| Q2 25 | $347.3M | $411.5M | ||
| Q1 25 | $287.9M | $113.4M | ||
| Q4 24 | $311.4M | $475.1M | ||
| Q3 24 | $565.0M | $93.9M | ||
| Q2 24 | $340.6M | $209.8M | ||
| Q1 24 | $166.2M | $78.8M |
自由现金流率ITTPR
| Q4 25 | 15.4% | 41.5% | ||
| Q3 25 | 17.7% | 4.7% | ||
| Q2 25 | 20.6% | 23.9% | ||
| Q1 25 | 18.8% | 7.2% | ||
| Q4 24 | 18.2% | 21.6% | ||
| Q3 24 | 38.1% | 6.2% | ||
| Q2 24 | 21.4% | 13.2% | ||
| Q1 24 | 11.3% | 5.3% |
资本支出强度ITTPR
| Q4 25 | 1.4% | 1.7% | ||
| Q3 25 | 1.9% | 1.9% | ||
| Q2 25 | 2.1% | 2.0% | ||
| Q1 25 | 1.7% | 2.0% | ||
| Q4 24 | 1.4% | 1.4% | ||
| Q3 24 | 1.7% | 1.7% | ||
| Q2 24 | 1.8% | 2.9% | ||
| Q1 24 | 1.5% | 1.3% |
现金转化率ITTPR
| Q4 25 | 1.22× | 1.93× | ||
| Q3 25 | 8.45× | 0.41× | ||
| Q2 25 | 1.59× | — | ||
| Q1 25 | 1.49× | 0.71× | ||
| Q4 24 | 0.84× | 1.63× | ||
| Q3 24 | 1.42× | 0.64× | ||
| Q2 24 | 1.61× | 1.61× | ||
| Q1 24 | 0.90× | 0.70× |
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
IT
| Transferred Over Time | $1.3B | 73% |
| Conferences | $286.2M | 16% |
| Consulting | $133.6M | 8% |
| Other | $52.3M | 3% |
TPR
| Coach | $1.4B | 57% |
| Other | $787.0M | 31% |
| Kate Spade Company | $290.0M | 12% |
