vs
Arch Capital Group（ACGL）与Steel Dynamics（STLD）财务数据对比。点击上方公司名可切换其他公司
Steel Dynamics的季度营收约是Arch Capital Group的1.2倍（$5.2B vs $4.5B），Arch Capital Group净利率更高（23.2% vs 7.7%，领先15.5%），Steel Dynamics同比增速更快（17.9% vs -3.3%），过去两年Steel Dynamics的营收复合增速更高（6.0% vs 3.4%）
百慕大注册上市企业Arch Capital Group面向全球提供保险、再保险及按揭保险服务，专注于特种类保险业务，承保保险业内难度较高的特殊风险。公司总部位于百慕大，在北美、欧洲、亚洲及澳洲共设有60个办事处，实现全球布局运营。
Steel Dynamics是总部位于美国印第安纳州韦恩堡的钢铁生产企业，钢铁产能达1300万吨，为美国第三大碳钢产品生产商，按利润率及每吨运营利润率计算属于美国盈利能力最强的钢企之一，凭借2021年营收位列2022年财富美国500强第196位。
ACGL vs STLD — 直观对比
营收规模更大
STLD
是对方的1.2倍
$4.5B
营收增速更快
STLD
高出21.2%
-3.3%
净利率更高
ACGL
高出15.5%
7.7%
两年增速更快
STLD
近两年复合增速
3.4%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.5B | $5.2B |
| 净利润 | $1.0B | $400.1M |
| 毛利率 | — | 14.7% |
| 营业利润率 | — | 10.3% |
| 净利率 | 23.2% | 7.7% |
| 营收同比 | -3.3% | 17.9% |
| 净利润同比 | 82.4% | 51.3% |
| 每股收益（稀释后） | $2.88 | $2.78 |
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ACGLSTLD
| Q1 26 | $4.5B | $5.2B | ||
| Q4 25 | $4.9B | $4.4B | ||
| Q3 25 | $5.1B | $4.8B | ||
| Q2 25 | $5.2B | $4.6B | ||
| Q1 25 | $4.7B | $4.4B | ||
| Q4 24 | $4.5B | $3.9B | ||
| Q3 24 | $4.7B | $4.3B | ||
| Q2 24 | $4.2B | $4.6B |
净利润ACGLSTLD
| Q1 26 | $1.0B | $400.1M | ||
| Q4 25 | $1.2B | $266.0M | ||
| Q3 25 | $1.4B | $403.7M | ||
| Q2 25 | $1.2B | $298.7M | ||
| Q1 25 | $574.0M | $217.2M | ||
| Q4 24 | $935.0M | $207.3M | ||
| Q3 24 | $988.0M | $317.8M | ||
| Q2 24 | $1.3B | $428.0M |
毛利率ACGLSTLD
| Q1 26 | — | 14.7% | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | 15.7% | ||
| Q2 25 | — | 13.5% | ||
| Q1 25 | — | 11.1% | ||
| Q4 24 | — | 11.4% | ||
| Q3 24 | — | 13.9% | ||
| Q2 24 | — | 16.7% |
营业利润率ACGLSTLD
| Q1 26 | — | 10.3% | ||
| Q4 25 | — | 7.0% | ||
| Q3 25 | — | 10.5% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 6.3% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 9.1% | ||
| Q2 24 | — | 12.1% |
净利率ACGLSTLD
| Q1 26 | 23.2% | 7.7% | ||
| Q4 25 | 25.1% | 6.0% | ||
| Q3 25 | 26.4% | 8.4% | ||
| Q2 25 | 23.7% | 6.5% | ||
| Q1 25 | 12.3% | 5.0% | ||
| Q4 24 | 20.6% | 5.4% | ||
| Q3 24 | 20.9% | 7.3% | ||
| Q2 24 | 30.0% | 9.2% |
每股收益（稀释后）ACGLSTLD
| Q1 26 | $2.88 | $2.78 | ||
| Q4 25 | $3.33 | $1.80 | ||
| Q3 25 | $3.56 | $2.74 | ||
| Q2 25 | $3.23 | $2.01 | ||
| Q1 25 | $1.48 | $1.44 | ||
| Q4 24 | $2.41 | $1.40 | ||
| Q3 24 | $2.56 | $2.05 | ||
| Q2 24 | $3.30 | $2.72 |
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 | $24.0M | $556.5M |
| 总债务越低越好 | — | $4.2B |
| 股东权益账面价值 | $24.2B | $9.0B |
| 总资产 | $81.4B | $16.7B |
| 负债/权益比越低杠杆越低 | — | 0.47× |
8季度趋势，按日历期对齐
现金及短期投资ACGLSTLD
| Q1 26 | $24.0M | $556.5M | ||
| Q4 25 | $993.0M | $769.9M | ||
| Q3 25 | $1.1B | $770.4M | ||
| Q2 25 | $983.0M | $497.6M | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $979.0M | $737.3M | ||
| Q3 24 | $1.0B | $1.7B | ||
| Q2 24 | $1.0B | $1.2B |
总债务ACGLSTLD
| Q1 26 | — | $4.2B | ||
| Q4 25 | — | $4.2B | ||
| Q3 25 | — | $3.8B | ||
| Q2 25 | — | $3.8B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | — | $3.7B | ||
| Q2 24 | — | $3.1B |
股东权益ACGLSTLD
| Q1 26 | $24.2B | $9.0B | ||
| Q4 25 | $24.2B | $9.0B | ||
| Q3 25 | $23.7B | $9.0B | ||
| Q2 25 | $23.0B | $8.9B | ||
| Q1 25 | $21.5B | $8.8B | ||
| Q4 24 | $20.8B | $8.9B | ||
| Q3 24 | $22.3B | $9.1B | ||
| Q2 24 | $20.7B | $9.1B |
总资产ACGLSTLD
| Q1 26 | $81.4B | $16.7B | ||
| Q4 25 | $79.2B | $16.4B | ||
| Q3 25 | $79.2B | $16.0B | ||
| Q2 25 | $78.8B | $15.5B | ||
| Q1 25 | $75.2B | $15.9B | ||
| Q4 24 | $70.9B | $14.9B | ||
| Q3 24 | $73.7B | $15.7B | ||
| Q2 24 | $65.5B | $15.1B |
负债/权益比ACGLSTLD
| Q1 26 | — | 0.47× | ||
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 0.42× | ||
| Q2 25 | — | 0.43× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.41× | ||
| Q2 24 | — | 0.34× |
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 | $1.2B | $148.3M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.13× | 0.37× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ACGLSTLD
| Q1 26 | $1.2B | $148.3M | ||
| Q4 25 | $1.4B | $272.7M | ||
| Q3 25 | $2.2B | $722.6M | ||
| Q2 25 | $1.1B | $301.6M | ||
| Q1 25 | $1.5B | $152.6M | ||
| Q4 24 | $1.6B | $346.9M | ||
| Q3 24 | $2.0B | $759.9M | ||
| Q2 24 | $1.5B | $382.6M |
自由现金流ACGLSTLD
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | $84.2M | ||
| Q3 25 | $2.2B | $556.9M | ||
| Q2 25 | $1.1B | $13.3M | ||
| Q1 25 | $1.4B | $-152.9M | ||
| Q4 24 | $1.6B | $-106.3M | ||
| Q3 24 | $2.0B | $138.5M | ||
| Q2 24 | $1.5B | $-36.6M |
自由现金流率ACGLSTLD
| Q1 26 | — | — | ||
| Q4 25 | 28.2% | 1.9% | ||
| Q3 25 | 42.6% | 11.5% | ||
| Q2 25 | 21.3% | 0.3% | ||
| Q1 25 | 31.0% | -3.5% | ||
| Q4 24 | 34.3% | -2.7% | ||
| Q3 24 | 42.5% | 3.2% | ||
| Q2 24 | 35.6% | -0.8% |
资本支出强度ACGLSTLD
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 4.3% | ||
| Q3 25 | 0.2% | 3.4% | ||
| Q2 25 | 0.2% | 6.3% | ||
| Q1 25 | 0.2% | 7.0% | ||
| Q4 24 | 0.3% | 11.7% | ||
| Q3 24 | 0.3% | 14.3% | ||
| Q2 24 | 0.3% | 9.0% |
现金转化率ACGLSTLD
| Q1 26 | 1.13× | 0.37× | ||
| Q4 25 | 1.13× | 1.03× | ||
| Q3 25 | 1.62× | 1.79× | ||
| Q2 25 | 0.91× | 1.01× | ||
| Q1 25 | 2.54× | 0.70× | ||
| Q4 24 | 1.68× | 1.67× | ||
| Q3 24 | 2.04× | 2.39× | ||
| Q2 24 | 1.20× | 0.89× |
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
ACGL
暂无分部数据
STLD
| Steel | $3.5B | 68% |
| Metals Recycling | $593.2M | 11% |
| Other | $490.1M | 9% |
| Steel Fabrication | $355.4M | 7% |
| Aluminum | $227.4M | 4% |
