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IMPINJ INC（PI）与通用动力（PLOW）财务数据对比。点击上方公司名可切换其他公司
通用动力的季度营收约是IMPINJ INC的2.5倍（$184.5M vs $74.3M），IMPINJ INC净利率更高（11.2% vs 7.0%，领先4.2%），通用动力同比增速更快（28.6% vs -0.0%），通用动力自由现金流更多（$92.8M vs $2.2M），过去两年通用动力的营收复合增速更高（38.9% vs -14.9%）
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。
通用动力公司是总部位于美国弗吉尼亚州雷斯顿的工业与科技企业，核心业务是研发制造各类先进军用装备，产品包括核潜艇、主战坦克、装甲战车等，同时也生产民用湾流公务机，并提供信息技术服务，是美国联邦政府前五大国防承包商之一。
PI vs PLOW — 直观对比
营收规模更大
PLOW
是对方的2.5倍
$74.3M
营收增速更快
PLOW
高出28.6%
-0.0%
净利率更高
PI
高出4.2%
7.0%
自由现金流更多
PLOW
多$90.6M
$2.2M
两年增速更快
PLOW
近两年复合增速
-14.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $74.3M | $184.5M |
| 净利润 | $8.3M | $12.8M |
| 毛利率 | 49.1% | 26.1% |
| 营业利润率 | 30.5% | 10.5% |
| 净利率 | 11.2% | 7.0% |
| 营收同比 | -0.0% | 28.6% |
| 净利润同比 | — | 62.3% |
| 每股收益（稀释后） | $0.14 | $0.54 |
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PIPLOW
| Q1 26 | $74.3M | — | ||
| Q4 25 | $92.8M | $184.5M | ||
| Q3 25 | $96.1M | $162.1M | ||
| Q2 25 | $97.9M | $194.3M | ||
| Q1 25 | $74.3M | $115.1M | ||
| Q4 24 | $91.6M | $143.5M | ||
| Q3 24 | $95.2M | $129.4M | ||
| Q2 24 | $102.5M | $199.9M |
净利润PIPLOW
| Q1 26 | $8.3M | — | ||
| Q4 25 | $-1.1M | $12.8M | ||
| Q3 25 | $-12.8M | $8.0M | ||
| Q2 25 | $11.6M | $26.0M | ||
| Q1 25 | $-8.5M | $148.0K | ||
| Q4 24 | $-2.7M | $7.9M | ||
| Q3 24 | $221.0K | $32.3M | ||
| Q2 24 | $10.0M | $24.3M |
毛利率PIPLOW
| Q1 26 | 49.1% | — | ||
| Q4 25 | 51.8% | 26.1% | ||
| Q3 25 | 50.3% | 23.5% | ||
| Q2 25 | 57.8% | 31.0% | ||
| Q1 25 | 49.4% | 24.5% | ||
| Q4 24 | 50.5% | 24.9% | ||
| Q3 24 | 50.0% | 23.9% | ||
| Q2 24 | 56.1% | 30.7% |
营业利润率PIPLOW
| Q1 26 | 30.5% | — | ||
| Q4 25 | -2.9% | 10.5% | ||
| Q3 25 | 0.7% | 8.7% | ||
| Q2 25 | 11.1% | 19.0% | ||
| Q1 25 | -12.9% | 2.8% | ||
| Q4 24 | -3.9% | 9.0% | ||
| Q3 24 | -0.8% | 35.4% | ||
| Q2 24 | 8.8% | 18.2% |
净利率PIPLOW
| Q1 26 | 11.2% | — | ||
| Q4 25 | -1.2% | 7.0% | ||
| Q3 25 | -13.3% | 4.9% | ||
| Q2 25 | 11.8% | 13.4% | ||
| Q1 25 | -11.4% | 0.1% | ||
| Q4 24 | -2.9% | 5.5% | ||
| Q3 24 | 0.2% | 24.9% | ||
| Q2 24 | 9.7% | 12.2% |
每股收益（稀释后）PIPLOW
| Q1 26 | $0.14 | — | ||
| Q4 25 | $-0.02 | $0.54 | ||
| Q3 25 | $-0.44 | $0.33 | ||
| Q2 25 | $0.39 | $1.09 | ||
| Q1 25 | $-0.30 | $0.00 | ||
| Q4 24 | $-0.06 | $0.35 | ||
| Q3 24 | $0.01 | $1.36 | ||
| Q2 24 | $0.34 | $1.02 |
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 | $131.8M | — |
| 总债务越低越好 | $241.5M | $144.0M |
| 股东权益账面价值 | — | $281.4M |
| 总资产 | $502.5M | $626.7M |
| 负债/权益比越低杠杆越低 | — | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资PIPLOW
| Q1 26 | $131.8M | — | ||
| Q4 25 | $175.3M | — | ||
| Q3 25 | $190.1M | — | ||
| Q2 25 | $193.2M | — | ||
| Q1 25 | $147.9M | — | ||
| Q4 24 | $164.7M | — | ||
| Q3 24 | $170.3M | — | ||
| Q2 24 | $220.2M | — |
总债务PIPLOW
| Q1 26 | $241.5M | — | ||
| Q4 25 | $280.9M | $144.0M | ||
| Q3 25 | $280.4M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $283.5M | $147.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益PIPLOW
| Q1 26 | — | — | ||
| Q4 25 | $209.2M | $281.4M | ||
| Q3 25 | $195.0M | $275.3M | ||
| Q2 25 | $187.7M | $273.3M | ||
| Q1 25 | $160.6M | $258.9M | ||
| Q4 24 | $149.9M | $264.2M | ||
| Q3 24 | $136.1M | $260.8M | ||
| Q2 24 | $117.0M | $236.7M |
总资产PIPLOW
| Q1 26 | $502.5M | — | ||
| Q4 25 | $545.2M | $626.7M | ||
| Q3 25 | $516.5M | $694.9M | ||
| Q2 25 | $508.8M | $671.5M | ||
| Q1 25 | $479.8M | $621.0M | ||
| Q4 24 | $489.1M | $590.0M | ||
| Q3 24 | $476.4M | $665.6M | ||
| Q2 24 | $446.1M | $617.0M |
负债/权益比PIPLOW
| Q1 26 | — | — | ||
| Q4 25 | 1.34× | 0.51× | ||
| Q3 25 | 1.44× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.89× | 0.56× | ||
| 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 | — | $95.9M |
| 自由现金流经营现金流 - 资本支出 | $2.2M | $92.8M |
| 自由现金流率自由现金流/营收 | 3.0% | 50.3% |
| 资本支出强度资本支出/营收 | — | 1.7% |
| 现金转化率经营现金流/净利润 | — | 7.47× |
| 过去12个月自由现金流最近4个季度 | $61.1M | $63.6M |
8季度趋势，按日历期对齐
经营现金流PIPLOW
| Q1 26 | — | — | ||
| Q4 25 | $15.1M | $95.9M | ||
| Q3 25 | $20.9M | $-8.5M | ||
| Q2 25 | $33.9M | $-11.4M | ||
| Q1 25 | $-11.1M | $-1.3M | ||
| Q4 24 | $12.6M | $74.4M | ||
| Q3 24 | $10.1M | $-14.2M | ||
| Q2 24 | $45.5M | $2.5M |
自由现金流PIPLOW
| Q1 26 | $2.2M | — | ||
| Q4 25 | $13.6M | $92.8M | ||
| Q3 25 | $18.0M | $-11.4M | ||
| Q2 25 | $27.3M | $-14.3M | ||
| Q1 25 | $-13.0M | $-3.5M | ||
| Q4 24 | $8.5M | $70.2M | ||
| Q3 24 | $4.7M | $-15.2M | ||
| Q2 24 | $44.1M | $836.0K |
自由现金流率PIPLOW
| Q1 26 | 3.0% | — | ||
| Q4 25 | 14.7% | 50.3% | ||
| Q3 25 | 18.7% | -7.1% | ||
| Q2 25 | 27.9% | -7.4% | ||
| Q1 25 | -17.5% | -3.0% | ||
| Q4 24 | 9.3% | 48.9% | ||
| Q3 24 | 4.9% | -11.8% | ||
| Q2 24 | 43.0% | 0.4% |
资本支出强度PIPLOW
| Q1 26 | — | — | ||
| Q4 25 | 1.6% | 1.7% | ||
| Q3 25 | 3.1% | 1.8% | ||
| Q2 25 | 6.7% | 1.5% | ||
| Q1 25 | 2.5% | 1.9% | ||
| Q4 24 | 4.5% | 2.9% | ||
| Q3 24 | 5.7% | 0.8% | ||
| Q2 24 | 1.3% | 0.8% |
现金转化率PIPLOW
| Q1 26 | — | — | ||
| Q4 25 | — | 7.47× | ||
| Q3 25 | — | -1.07× | ||
| Q2 25 | 2.93× | -0.44× | ||
| Q1 25 | — | -9.03× | ||
| Q4 24 | — | 9.41× | ||
| Q3 24 | 45.56× | -0.44× | ||
| Q2 24 | 4.56× | 0.10× |
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
PI
暂无分部数据
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
