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MP Materials Corp.（MP）与IMPINJ INC（PI）财务数据对比。点击上方公司名可切换其他公司
IMPINJ INC的季度营收约是MP Materials Corp.的1.4倍（$74.3M vs $52.7M），MP Materials Corp.净利率更高（17.9% vs 11.2%，领先6.7%），IMPINJ INC同比增速更快（-0.0% vs -13.6%），IMPINJ INC自由现金流更多（$2.2M vs $-109.3M），过去两年MP Materials Corp.的营收复合增速更高（4.0% vs -14.9%）
MP Materials Corp.是总部位于美国的稀土材料生产商，拥有并运营加利福尼亚州芒廷帕斯矿，这是西半球唯一在产的稀土开采及加工设施，所产核心材料可广泛应用于电动汽车、风力发电机、国防工业等多个关键领域。
Impinj Inc.是一家美国射频识别（RFID）设备及软件提供商，成立于2000年，总部位于华盛顿州西雅图，源自加州理工学院Carver Mead与Chris Diorio的研究成果。公司主营EPC Class 1 Gen 2无源超高频RFID芯片、读写器、读写器芯片、天线，以及芯片编码、业务数据采集相关的软件应用，为各行业RFID应用提供全链路产品支持。
MP vs PI — 直观对比
营收规模更大
PI
是对方的1.4倍
$52.7M
营收增速更快
PI
高出13.6%
-13.6%
净利率更高
MP
高出6.7%
11.2%
自由现金流更多
PI
多$111.5M
$-109.3M
两年增速更快
MP
近两年复合增速
-14.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $52.7M | $74.3M |
| 净利润 | $9.4M | $8.3M |
| 毛利率 | — | 49.1% |
| 营业利润率 | -7.0% | 30.5% |
| 净利率 | 17.9% | 11.2% |
| 营收同比 | -13.6% | -0.0% |
| 净利润同比 | 142.2% | — |
| 每股收益（稀释后） | $0.07 | $0.14 |
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MPPI
| Q1 26 | — | $74.3M | ||
| Q4 25 | $52.7M | $92.8M | ||
| Q3 25 | $53.6M | $96.1M | ||
| Q2 25 | $57.4M | $97.9M | ||
| Q1 25 | $60.8M | $74.3M | ||
| Q4 24 | $61.0M | $91.6M | ||
| Q3 24 | $62.9M | $95.2M | ||
| Q2 24 | $31.3M | $102.5M |
净利润MPPI
| Q1 26 | — | $8.3M | ||
| Q4 25 | $9.4M | $-1.1M | ||
| Q3 25 | $-41.8M | $-12.8M | ||
| Q2 25 | $-30.9M | $11.6M | ||
| Q1 25 | $-22.6M | $-8.5M | ||
| Q4 24 | $-22.3M | $-2.7M | ||
| Q3 24 | $-25.5M | $221.0K | ||
| Q2 24 | $-34.1M | $10.0M |
毛利率MPPI
| Q1 26 | — | 49.1% | ||
| Q4 25 | — | 51.8% | ||
| Q3 25 | — | 50.3% | ||
| Q2 25 | — | 57.8% | ||
| Q1 25 | — | 49.4% | ||
| Q4 24 | — | 50.5% | ||
| Q3 24 | — | 50.0% | ||
| Q2 24 | — | 56.1% |
营业利润率MPPI
| Q1 26 | — | 30.5% | ||
| Q4 25 | -7.0% | -2.9% | ||
| Q3 25 | -125.2% | 0.7% | ||
| Q2 25 | -76.5% | 11.1% | ||
| Q1 25 | -57.2% | -12.9% | ||
| Q4 24 | -72.1% | -3.9% | ||
| Q3 24 | -62.8% | -0.8% | ||
| Q2 24 | -171.1% | 8.8% |
净利率MPPI
| Q1 26 | — | 11.2% | ||
| Q4 25 | 17.9% | -1.2% | ||
| Q3 25 | -78.0% | -13.3% | ||
| Q2 25 | -53.8% | 11.8% | ||
| Q1 25 | -37.2% | -11.4% | ||
| Q4 24 | -36.6% | -2.9% | ||
| Q3 24 | -40.5% | 0.2% | ||
| Q2 24 | -108.9% | 9.7% |
每股收益（稀释后）MPPI
| Q1 26 | — | $0.14 | ||
| Q4 25 | $0.07 | $-0.02 | ||
| Q3 25 | $-0.24 | $-0.44 | ||
| Q2 25 | $-0.19 | $0.39 | ||
| Q1 25 | $-0.14 | $-0.30 | ||
| Q4 24 | $-0.12 | $-0.06 | ||
| Q3 24 | $-0.16 | $0.01 | ||
| Q2 24 | $-0.21 | $0.34 |
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 | $1.2B | $131.8M |
| 总债务越低越好 | $998.7M | $241.5M |
| 股东权益账面价值 | $2.0B | — |
| 总资产 | $3.9B | $502.5M |
| 负债/权益比越低杠杆越低 | 0.50× | — |
8季度趋势，按日历期对齐
现金及短期投资MPPI
| Q1 26 | — | $131.8M | ||
| Q4 25 | $1.2B | $175.3M | ||
| Q3 25 | $1.1B | $190.1M | ||
| Q2 25 | $261.5M | $193.2M | ||
| Q1 25 | $198.3M | $147.9M | ||
| Q4 24 | $282.4M | $164.7M | ||
| Q3 24 | $284.4M | $170.3M | ||
| Q2 24 | $295.6M | $220.2M |
总债务MPPI
| Q1 26 | — | $241.5M | ||
| Q4 25 | $998.7M | $280.9M | ||
| Q3 25 | $997.3M | $280.4M | ||
| Q2 25 | $910.8M | — | ||
| Q1 25 | $909.8M | — | ||
| Q4 24 | $908.7M | $283.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益MPPI
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $209.2M | ||
| Q3 25 | $2.0B | $195.0M | ||
| Q2 25 | $1.0B | $187.7M | ||
| Q1 25 | $1.0B | $160.6M | ||
| Q4 24 | $1.1B | $149.9M | ||
| Q3 24 | $1.1B | $136.1M | ||
| Q2 24 | $1.1B | $117.0M |
总资产MPPI
| Q1 26 | — | $502.5M | ||
| Q4 25 | $3.9B | $545.2M | ||
| Q3 25 | $3.8B | $516.5M | ||
| Q2 25 | $2.3B | $508.8M | ||
| Q1 25 | $2.4B | $479.8M | ||
| Q4 24 | $2.3B | $489.1M | ||
| Q3 24 | $2.3B | $476.4M | ||
| Q2 24 | $2.4B | $446.1M |
负债/权益比MPPI
| Q1 26 | — | — | ||
| Q4 25 | 0.50× | 1.34× | ||
| Q3 25 | 0.51× | 1.44× | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | 0.88× | — | ||
| Q4 24 | 0.86× | 1.89× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $-46.9M | — |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | $2.2M |
| 自由现金流率自由现金流/营收 | -207.4% | 3.0% |
| 资本支出强度资本支出/营收 | 118.5% | — |
| 现金转化率经营现金流/净利润 | -4.97× | — |
| 过去12个月自由现金流最近4个季度 | $-328.1M | $61.1M |
8季度趋势，按日历期对齐
经营现金流MPPI
| Q1 26 | — | — | ||
| Q4 25 | $-46.9M | $15.1M | ||
| Q3 25 | $-42.0M | $20.9M | ||
| Q2 25 | $-3.7M | $33.9M | ||
| Q1 25 | $-63.2M | $-11.1M | ||
| Q4 24 | $30.5M | $12.6M | ||
| Q3 24 | $-6.8M | $10.1M | ||
| Q2 24 | $30.8M | $45.5M |
自由现金流MPPI
| Q1 26 | — | $2.2M | ||
| Q4 25 | $-109.3M | $13.6M | ||
| Q3 25 | $-92.5M | $18.0M | ||
| Q2 25 | $-32.7M | $27.3M | ||
| Q1 25 | $-93.7M | $-13.0M | ||
| Q4 24 | $-11.2M | $8.5M | ||
| Q3 24 | $-53.3M | $4.7M | ||
| Q2 24 | $-15.6M | $44.1M |
自由现金流率MPPI
| Q1 26 | — | 3.0% | ||
| Q4 25 | -207.4% | 14.7% | ||
| Q3 25 | -172.8% | 18.7% | ||
| Q2 25 | -56.9% | 27.9% | ||
| Q1 25 | -154.0% | -17.5% | ||
| Q4 24 | -18.3% | 9.3% | ||
| Q3 24 | -84.7% | 4.9% | ||
| Q2 24 | -50.1% | 43.0% |
资本支出强度MPPI
| Q1 26 | — | — | ||
| Q4 25 | 118.5% | 1.6% | ||
| Q3 25 | 94.3% | 3.1% | ||
| Q2 25 | 50.5% | 6.7% | ||
| Q1 25 | 50.1% | 2.5% | ||
| Q4 24 | 68.3% | 4.5% | ||
| Q3 24 | 73.8% | 5.7% | ||
| Q2 24 | 148.7% | 1.3% |
现金转化率MPPI
| Q1 26 | — | — | ||
| Q4 25 | -4.97× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.93× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 45.56× | ||
| Q2 24 | — | 4.56× |
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
MP
| Materials Segment | $35.6M | 68% |
| Other | $17.1M | 32% |
PI
暂无分部数据
