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LOUISIANA-PACIFIC CORP（LPX）与INNOVATE Corp.（VATE）财务数据对比。点击上方公司名可切换其他公司
LOUISIANA-PACIFIC CORP的季度营收约是INNOVATE Corp.的1.5倍（$566.0M vs $382.7M），LOUISIANA-PACIFIC CORP净利率更高（-1.4% vs -1.9%，领先0.5%），INNOVATE Corp.同比增速更快（61.7% vs -16.9%），过去两年INNOVATE Corp.的营收复合增速更高（10.2% vs -11.6%）
路易斯安那-太平洋公司（简称LP）是美国知名建材制造商，成立于1973年，是美国定向结构刨花板（OSB）生产的开创者，总部现位于田纳西州纳什维尔。作为全球最大的OSB生产商，公司还生产工程木建材产品，通过建材分销商、经销商及家居零售中心向建筑商和业主供货。
创新公司（Innovate Corp.）是一家美国上市金融服务企业，创立于1994年，深耕金融服务领域，面向市场提供多元专业金融相关服务，是美国本土具备多年运营经验的公众金融服务机构。
LPX vs VATE — 直观对比
营收规模更大
LPX
是对方的1.5倍
$382.7M
营收增速更快
VATE
高出78.6%
-16.9%
净利率更高
LPX
高出0.5%
-1.9%
两年增速更快
VATE
近两年复合增速
-11.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $566.0M | $382.7M |
| 净利润 | $-8.0M | $-7.4M |
| 毛利率 | 15.0% | 15.4% |
| 营业利润率 | -1.6% | 3.7% |
| 净利率 | -1.4% | -1.9% |
| 营收同比 | -16.9% | 61.7% |
| 净利润同比 | -112.9% | 55.4% |
| 每股收益（稀释后） | $-0.12 | $-0.57 |
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LPXVATE
| Q4 25 | $566.0M | $382.7M | ||
| Q3 25 | $663.0M | $347.1M | ||
| Q2 25 | $755.0M | $242.0M | ||
| Q1 25 | $724.0M | $274.2M | ||
| Q4 24 | $681.0M | $236.6M | ||
| Q3 24 | $722.0M | $242.2M | ||
| Q2 24 | $814.0M | $313.1M | ||
| Q1 24 | $724.0M | $315.2M |
净利润LPXVATE
| Q4 25 | $-8.0M | $-7.4M | ||
| Q3 25 | $9.0M | $-8.9M | ||
| Q2 25 | $54.0M | $-19.8M | ||
| Q1 25 | $91.0M | $-24.5M | ||
| Q4 24 | $62.0M | $-16.6M | ||
| Q3 24 | $90.0M | $-15.0M | ||
| Q2 24 | $160.0M | $14.4M | ||
| Q1 24 | $108.0M | $-17.4M |
毛利率LPXVATE
| Q4 25 | 15.0% | 15.4% | ||
| Q3 25 | 19.5% | 14.3% | ||
| Q2 25 | 23.6% | 18.8% | ||
| Q1 25 | 27.2% | 16.6% | ||
| Q4 24 | 23.8% | 19.6% | ||
| Q3 24 | 26.7% | 19.9% | ||
| Q2 24 | 32.3% | 21.0% | ||
| Q1 24 | 29.6% | 15.4% |
营业利润率LPXVATE
| Q4 25 | -1.6% | 3.7% | ||
| Q3 25 | 2.7% | 1.8% | ||
| Q2 25 | 10.6% | 2.0% | ||
| Q1 25 | 16.6% | 1.2% | ||
| Q4 24 | 11.0% | 1.1% | ||
| Q3 24 | 16.1% | 2.4% | ||
| Q2 24 | 23.8% | 9.2% | ||
| Q1 24 | 20.0% | 0.9% |
净利率LPXVATE
| Q4 25 | -1.4% | -1.9% | ||
| Q3 25 | 1.4% | -2.6% | ||
| Q2 25 | 7.2% | -8.2% | ||
| Q1 25 | 12.6% | -8.9% | ||
| Q4 24 | 9.1% | -7.0% | ||
| Q3 24 | 12.5% | -6.2% | ||
| Q2 24 | 19.7% | 4.6% | ||
| Q1 24 | 14.9% | -5.5% |
每股收益（稀释后）LPXVATE
| Q4 25 | $-0.12 | $-0.57 | ||
| Q3 25 | $0.13 | $-0.71 | ||
| Q2 25 | $0.77 | $-1.67 | ||
| Q1 25 | $1.30 | $-1.89 | ||
| Q4 24 | $0.90 | $-0.72 | ||
| Q3 24 | $1.28 | $-1.18 | ||
| Q2 24 | $2.23 | $1.03 | ||
| Q1 24 | $1.48 | $-2.21 |
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 | $292.0M | $112.1M |
| 总债务越低越好 | $348.0M | $80.3M |
| 股东权益账面价值 | $1.7B | $-240.1M |
| 总资产 | $2.6B | $950.1M |
| 负债/权益比越低杠杆越低 | 0.20× | — |
8季度趋势，按日历期对齐
现金及短期投资LPXVATE
| Q4 25 | $292.0M | $112.1M | ||
| Q3 25 | $316.0M | $35.5M | ||
| Q2 25 | $333.0M | $33.4M | ||
| Q1 25 | $256.0M | $33.3M | ||
| Q4 24 | $340.0M | $48.8M | ||
| Q3 24 | $346.0M | $51.0M | ||
| Q2 24 | $317.0M | $80.2M | ||
| Q1 24 | $244.0M | $38.4M |
总债务LPXVATE
| Q4 25 | $348.0M | $80.3M | ||
| Q3 25 | $348.0M | $97.3M | ||
| Q2 25 | $348.0M | $160.1M | ||
| Q1 25 | $348.0M | $139.9M | ||
| Q4 24 | $348.0M | $500.6M | ||
| Q3 24 | $347.0M | $502.4M | ||
| Q2 24 | $347.0M | $638.3M | ||
| Q1 24 | $347.0M | $641.5M |
股东权益LPXVATE
| Q4 25 | $1.7B | $-240.1M | ||
| Q3 25 | $1.7B | $-233.3M | ||
| Q2 25 | $1.7B | $-224.8M | ||
| Q1 25 | $1.7B | $-204.2M | ||
| Q4 24 | $1.7B | $-180.4M | ||
| Q3 24 | $1.7B | $-163.1M | ||
| Q2 24 | $1.7B | $-149.0M | ||
| Q1 24 | $1.6B | $-184.4M |
总资产LPXVATE
| Q4 25 | $2.6B | $950.1M | ||
| Q3 25 | $2.6B | $913.2M | ||
| Q2 25 | $2.7B | $890.9M | ||
| Q1 25 | $2.6B | $868.0M | ||
| Q4 24 | $2.6B | $891.1M | ||
| Q3 24 | $2.6B | $897.2M | ||
| Q2 24 | $2.5B | $898.9M | ||
| Q1 24 | $2.5B | $943.5M |
负债/权益比LPXVATE
| Q4 25 | 0.20× | — | ||
| Q3 25 | 0.20× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.21× | — | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | 0.21× | — | ||
| Q2 24 | 0.21× | — | ||
| Q1 24 | 0.21× | — |
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 | $67.0M | $101.1M |
| 自由现金流经营现金流 - 资本支出 | $-8.0M | — |
| 自由现金流率自由现金流/营收 | -1.4% | — |
| 资本支出强度资本支出/营收 | 13.3% | — |
| 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 | $91.0M | — |
8季度趋势，按日历期对齐
经营现金流LPXVATE
| Q4 25 | $67.0M | $101.1M | ||
| Q3 25 | $89.0M | $19.2M | ||
| Q2 25 | $162.0M | $40.4M | ||
| Q1 25 | $64.0M | $-14.1M | ||
| Q4 24 | $105.0M | $41.4M | ||
| Q3 24 | $183.0M | $-28.4M | ||
| Q2 24 | $212.0M | $21.5M | ||
| Q1 24 | $105.0M | $-25.4M |
自由现金流LPXVATE
| Q4 25 | $-8.0M | — | ||
| Q3 25 | $5.0M | $19.0M | ||
| Q2 25 | $94.0M | — | ||
| Q1 25 | $0 | $-18.8M | ||
| Q4 24 | $43.0M | $34.2M | ||
| Q3 24 | $139.0M | $-31.5M | ||
| Q2 24 | $176.0M | $18.4M | ||
| Q1 24 | $64.0M | $-31.0M |
自由现金流率LPXVATE
| Q4 25 | -1.4% | — | ||
| Q3 25 | 0.8% | 5.5% | ||
| Q2 25 | 12.5% | — | ||
| Q1 25 | 0.0% | -6.9% | ||
| Q4 24 | 6.3% | 14.5% | ||
| Q3 24 | 19.3% | -13.0% | ||
| Q2 24 | 21.6% | 5.9% | ||
| Q1 24 | 8.8% | -9.8% |
资本支出强度LPXVATE
| Q4 25 | 13.3% | — | ||
| Q3 25 | 12.7% | 0.1% | ||
| Q2 25 | 9.0% | — | ||
| Q1 25 | 8.8% | 1.7% | ||
| Q4 24 | 9.1% | 3.0% | ||
| Q3 24 | 6.1% | 1.3% | ||
| Q2 24 | 4.4% | 1.0% | ||
| Q1 24 | 5.7% | 1.8% |
现金转化率LPXVATE
| Q4 25 | — | — | ||
| Q3 25 | 9.89× | — | ||
| Q2 25 | 3.00× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 1.69× | — | ||
| Q3 24 | 2.03× | — | ||
| Q2 24 | 1.32× | 1.49× | ||
| Q1 24 | 0.97× | — |
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
LPX
| OS Bvalueadd | $472.0M | 83% |
| Other | $84.0M | 15% |
| Otherproducts | $10.0M | 2% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
