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景顺（IVZ）与Wayfair Inc.（W）财务数据对比。点击上方公司名可切换其他公司
Wayfair Inc.的季度营收约是景顺的2.0倍（$3.3B vs $1.7B），Wayfair Inc.净利率更高（-3.5% vs -58.9%，领先55.4%），Wayfair Inc.同比增速更快（6.9% vs 6.2%），景顺自由现金流更多（$432.2M vs $177.0M），过去两年Wayfair Inc.的营收复合增速更高（10.6% vs 7.1%）
景顺是总部位于美国佐治亚州亚特兰大的独立投资管理企业，在全球20个国家设有分支机构，旗下运营景顺、Invesco Perpetual、PowerShares等品牌，普通股为标普500指数成分股，于纽约证券交易所挂牌交易。
Wayfair Inc.是总部位于美国马萨诸塞州波士顿的电商企业，2002年成立，前身为CSN Stores，专注于家具及家居用品线上销售。目前平台提供来自全球11000余家供应商的1400万款商品，业务遍及北美、加拿大、德国、爱尔兰、中国、英国等国家和地区。
IVZ vs W — 直观对比
营收规模更大
W
是对方的2.0倍
$1.7B
营收增速更快
W
高出0.7%
6.2%
净利率更高
W
高出55.4%
-58.9%
自由现金流更多
IVZ
多$255.2M
$177.0M
两年增速更快
W
近两年复合增速
7.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $3.3B |
| 净利润 | $-995.9M | $-116.0M |
| 毛利率 | — | 30.3% |
| 营业利润率 | -86.2% | 2.5% |
| 净利率 | -58.9% | -3.5% |
| 营收同比 | 6.2% | 6.9% |
| 净利润同比 | -575.8% | 9.4% |
| 每股收益（稀释后） | $-2.61 | $-0.90 |
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IVZW
| Q4 25 | $1.7B | $3.3B | ||
| Q3 25 | $1.6B | $3.1B | ||
| Q2 25 | $1.5B | $3.3B | ||
| Q1 25 | $1.5B | $2.7B | ||
| Q4 24 | $1.6B | $3.1B | ||
| Q3 24 | $1.5B | $2.9B | ||
| Q2 24 | $1.5B | $3.1B | ||
| Q1 24 | $1.5B | $2.7B |
净利润IVZW
| Q4 25 | $-995.9M | $-116.0M | ||
| Q3 25 | $356.4M | $-99.0M | ||
| Q2 25 | $197.4M | $15.0M | ||
| Q1 25 | $171.1M | $-113.0M | ||
| Q4 24 | $209.3M | $-128.0M | ||
| Q3 24 | $55.0M | $-74.0M | ||
| Q2 24 | $132.2M | $-42.0M | ||
| Q1 24 | $141.5M | $-248.0M |
毛利率IVZW
| Q4 25 | — | 30.3% | ||
| Q3 25 | — | 30.0% | ||
| Q2 25 | — | 30.1% | ||
| Q1 25 | — | 30.7% | ||
| Q4 24 | — | 30.2% | ||
| Q3 24 | — | 30.3% | ||
| Q2 24 | — | 30.2% | ||
| Q1 24 | — | 30.0% |
营业利润率IVZW
| Q4 25 | -86.2% | 2.5% | ||
| Q3 25 | 16.5% | 1.2% | ||
| Q2 25 | 14.1% | 0.5% | ||
| Q1 25 | 18.1% | -4.5% | ||
| Q4 24 | 19.6% | -3.7% | ||
| Q3 24 | 6.6% | -2.6% | ||
| Q2 24 | 13.9% | -1.1% | ||
| Q1 24 | 14.4% | -8.6% |
净利率IVZW
| Q4 25 | -58.9% | -3.5% | ||
| Q3 25 | 21.7% | -3.2% | ||
| Q2 25 | 13.0% | 0.5% | ||
| Q1 25 | 11.2% | -4.1% | ||
| Q4 24 | 13.1% | -4.1% | ||
| Q3 24 | 3.6% | -2.6% | ||
| Q2 24 | 8.9% | -1.3% | ||
| Q1 24 | 9.6% | -9.1% |
每股收益（稀释后）IVZW
| Q4 25 | $-2.61 | $-0.90 | ||
| Q3 25 | $0.66 | $-0.76 | ||
| Q2 25 | $-0.03 | $0.11 | ||
| Q1 25 | $0.38 | $-0.89 | ||
| Q4 24 | $0.46 | $-1.01 | ||
| Q3 24 | $0.12 | $-0.60 | ||
| Q2 24 | $0.29 | $-0.34 | ||
| Q1 24 | $0.31 | $-2.06 |
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 | $1.0B | $1.5B |
| 总债务越低越好 | $1.8B | $3.3B |
| 股东权益账面价值 | $12.2B | $-2.8B |
| 总资产 | $27.1B | $3.4B |
| 负债/权益比越低杠杆越低 | 0.15× | — |
8季度趋势，按日历期对齐
现金及短期投资IVZW
| Q4 25 | $1.0B | $1.5B | ||
| Q3 25 | $973.1M | $1.2B | ||
| Q2 25 | $922.7M | $1.4B | ||
| Q1 25 | $821.7M | $1.4B | ||
| Q4 24 | $986.5M | $1.4B | ||
| Q3 24 | $1.0B | $1.3B | ||
| Q2 24 | $878.5M | $1.3B | ||
| Q1 24 | $895.7M | $1.2B |
总债务IVZW
| Q4 25 | $1.8B | $3.3B | ||
| Q3 25 | $1.6B | $2.9B | ||
| Q2 25 | $1.9B | $3.0B | ||
| Q1 25 | $964.8M | $3.2B | ||
| Q4 24 | $890.6M | $3.1B | ||
| Q3 24 | $890.3M | $3.2B | ||
| Q2 24 | $890.1M | $3.2B | ||
| Q1 24 | $1.3B | $3.2B |
股东权益IVZW
| Q4 25 | $12.2B | $-2.8B | ||
| Q3 25 | $14.0B | $-2.8B | ||
| Q2 25 | $13.9B | $-2.7B | ||
| Q1 25 | $14.7B | $-2.8B | ||
| Q4 24 | $14.6B | $-2.8B | ||
| Q3 24 | $14.8B | $-2.7B | ||
| Q2 24 | $14.6B | $-2.8B | ||
| Q1 24 | $14.6B | $-2.8B |
总资产IVZW
| Q4 25 | $27.1B | $3.4B | ||
| Q3 25 | $28.4B | $3.1B | ||
| Q2 25 | $28.5B | $3.3B | ||
| Q1 25 | $28.1B | $3.4B | ||
| Q4 24 | $27.0B | $3.5B | ||
| Q3 24 | $27.5B | $3.4B | ||
| Q2 24 | $27.2B | $3.4B | ||
| Q1 24 | $28.1B | $3.2B |
负债/权益比IVZW
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.14× | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 0.06× | — | ||
| Q3 24 | 0.06× | — | ||
| Q2 24 | 0.06× | — | ||
| Q1 24 | 0.09× | — |
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 | $455.8M | $202.0M |
| 自由现金流经营现金流 - 资本支出 | $432.2M | $177.0M |
| 自由现金流率自由现金流/营收 | 25.5% | 5.3% |
| 资本支出强度资本支出/营收 | 1.4% | 0.7% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $1.4B | $464.0M |
8季度趋势，按日历期对齐
经营现金流IVZW
| Q4 25 | $455.8M | $202.0M | ||
| Q3 25 | $606.2M | $155.0M | ||
| Q2 25 | $547.9M | $273.0M | ||
| Q1 25 | $-84.6M | $-96.0M | ||
| Q4 24 | $316.9M | $162.0M | ||
| Q3 24 | $438.4M | $49.0M | ||
| Q2 24 | $489.1M | $245.0M | ||
| Q1 24 | $-54.4M | $-139.0M |
自由现金流IVZW
| Q4 25 | $432.2M | $177.0M | ||
| Q3 25 | $586.4M | $128.0M | ||
| Q2 25 | $530.4M | $260.0M | ||
| Q1 25 | $-108.0M | $-101.0M | ||
| Q4 24 | $309.9M | $142.0M | ||
| Q3 24 | $410.0M | $32.0M | ||
| Q2 24 | $462.4M | $222.0M | ||
| Q1 24 | $-75.4M | $-152.0M |
自由现金流率IVZW
| Q4 25 | 25.5% | 5.3% | ||
| Q3 25 | 35.7% | 4.1% | ||
| Q2 25 | 35.0% | 7.9% | ||
| Q1 25 | -7.1% | -3.7% | ||
| Q4 24 | 19.5% | 4.5% | ||
| Q3 24 | 27.1% | 1.1% | ||
| Q2 24 | 31.2% | 7.1% | ||
| Q1 24 | -5.1% | -5.6% |
资本支出强度IVZW
| Q4 25 | 1.4% | 0.7% | ||
| Q3 25 | 1.2% | 0.9% | ||
| Q2 25 | 1.2% | 0.4% | ||
| Q1 25 | 1.5% | 0.2% | ||
| Q4 24 | 0.4% | 0.6% | ||
| Q3 24 | 1.9% | 0.6% | ||
| Q2 24 | 1.8% | 0.7% | ||
| Q1 24 | 1.4% | 0.5% |
现金转化率IVZW
| Q4 25 | — | — | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 2.78× | 18.20× | ||
| Q1 25 | -0.49× | — | ||
| Q4 24 | 1.51× | — | ||
| Q3 24 | 7.97× | — | ||
| Q2 24 | 3.70× | — | ||
| Q1 24 | -0.38× | — |
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
IVZ
| Investment Advice | $1.2B | 73% |
| Distribution And Shareholder Service | $382.7M | 23% |
| Financial Service Other | $51.0M | 3% |
| Investment Performance | $28.9M | 2% |
W
| US Segment | $2.9B | 88% |
| International Segment | $395.0M | 12% |
