vs
Arch Capital Group（ACGL）与Vistra Corp.（VST）财务数据对比。点击上方公司名可切换其他公司
Vistra Corp.的季度营收约是Arch Capital Group的1.1倍（$4.8B vs $4.5B），Arch Capital Group净利率更高（23.2% vs 4.8%，领先18.3%），Vistra Corp.同比增速更快（31.2% vs -3.3%），过去两年Vistra Corp.的营收复合增速更高（23.3% 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。
股票代码为VST的Vistra Corp是总部位于美国得克萨斯州的能源企业，主营电力生产、可再生能源开发及能源零售等业务。此外“Vistra”也可指一家总部位于中国香港的企业服务提供商，为全球客户提供公司注册、合规管理等专业服务。
ACGL vs VST — 直观对比
营收规模更大
VST
是对方的1.1倍
$4.5B
营收增速更快
VST
高出34.5%
-3.3%
净利率更高
ACGL
高出18.3%
4.8%
两年增速更快
VST
近两年复合增速
3.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.5B | $4.8B |
| 净利润 | $1.0B | $233.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 9.9% |
| 净利率 | 23.2% | 4.8% |
| 营收同比 | -3.3% | 31.2% |
| 净利润同比 | 82.4% | -47.2% |
| 每股收益（稀释后） | $2.88 | $0.55 |
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ACGLVST
| Q1 26 | $4.5B | — | ||
| Q4 25 | $4.9B | $4.8B | ||
| Q3 25 | $5.1B | $4.8B | ||
| Q2 25 | $5.2B | $3.8B | ||
| Q1 25 | $4.7B | $4.3B | ||
| Q4 24 | $4.5B | $3.7B | ||
| Q3 24 | $4.7B | $4.3B | ||
| Q2 24 | $4.2B | $3.6B |
净利润ACGLVST
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.2B | $233.0M | ||
| Q3 25 | $1.4B | $652.0M | ||
| Q2 25 | $1.2B | $327.0M | ||
| Q1 25 | $574.0M | $-268.0M | ||
| Q4 24 | $935.0M | $441.0M | ||
| Q3 24 | $988.0M | $1.9B | ||
| Q2 24 | $1.3B | $365.0M |
营业利润率ACGLVST
| Q1 26 | — | — | ||
| Q4 25 | — | 9.9% | ||
| Q3 25 | — | 21.7% | ||
| Q2 25 | — | 13.7% | ||
| Q1 25 | — | -2.8% | ||
| Q4 24 | — | 16.4% | ||
| Q3 24 | — | 59.6% | ||
| Q2 24 | — | 22.5% |
净利率ACGLVST
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.1% | 4.8% | ||
| Q3 25 | 26.4% | 13.6% | ||
| Q2 25 | 23.7% | 8.7% | ||
| Q1 25 | 12.3% | -6.3% | ||
| Q4 24 | 20.6% | 12.0% | ||
| Q3 24 | 20.9% | 43.5% | ||
| Q2 24 | 30.0% | 10.1% |
每股收益（稀释后）ACGLVST
| Q1 26 | $2.88 | — | ||
| Q4 25 | $3.33 | $0.55 | ||
| Q3 25 | $3.56 | $1.75 | ||
| Q2 25 | $3.23 | $0.81 | ||
| Q1 25 | $1.48 | $-0.93 | ||
| Q4 24 | $2.41 | $1.09 | ||
| Q3 24 | $2.56 | $5.25 | ||
| Q2 24 | $3.30 | $0.90 |
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 | $785.0M |
| 总债务越低越好 | — | $15.8B |
| 股东权益账面价值 | $24.2B | $5.1B |
| 总资产 | $81.4B | $41.5B |
| 负债/权益比越低杠杆越低 | — | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资ACGLVST
| Q1 26 | $24.0M | — | ||
| Q4 25 | $993.0M | $785.0M | ||
| Q3 25 | $1.1B | $602.0M | ||
| Q2 25 | $983.0M | $458.0M | ||
| Q1 25 | $1.2B | $561.0M | ||
| Q4 24 | $979.0M | $1.2B | ||
| Q3 24 | $1.0B | $905.0M | ||
| Q2 24 | $1.0B | $1.6B |
总债务ACGLVST
| Q1 26 | — | — | ||
| Q4 25 | — | $15.8B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | — | $15.5B | ||
| Q1 25 | — | $15.4B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | — | $13.9B |
股东权益ACGLVST
| Q1 26 | $24.2B | — | ||
| Q4 25 | $24.2B | $5.1B | ||
| Q3 25 | $23.7B | $5.2B | ||
| Q2 25 | $23.0B | $4.8B | ||
| Q1 25 | $21.5B | $4.8B | ||
| Q4 24 | $20.8B | $5.6B | ||
| Q3 24 | $22.3B | $5.4B | ||
| Q2 24 | $20.7B | $5.6B |
总资产ACGLVST
| Q1 26 | $81.4B | — | ||
| Q4 25 | $79.2B | $41.5B | ||
| Q3 25 | $79.2B | $38.0B | ||
| Q2 25 | $78.8B | $38.1B | ||
| Q1 25 | $75.2B | $38.2B | ||
| Q4 24 | $70.9B | $37.8B | ||
| Q3 24 | $73.7B | $37.9B | ||
| Q2 24 | $65.5B | $39.1B |
负债/权益比ACGLVST
| Q1 26 | — | — | ||
| Q4 25 | — | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.20× | ||
| Q4 24 | — | 2.77× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | — | 2.49× |
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 | $1.4B |
| 自由现金流经营现金流 - 资本支出 | — | $596.0M |
| 自由现金流率自由现金流/营收 | — | 12.4% |
| 资本支出强度资本支出/营收 | — | 17.4% |
| 现金转化率经营现金流/净利润 | 1.13× | 6.15× |
| 过去12个月自由现金流最近4个季度 | — | $1.3B |
8季度趋势，按日历期对齐
经营现金流ACGLVST
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.4B | $1.4B | ||
| Q3 25 | $2.2B | $1.5B | ||
| Q2 25 | $1.1B | $572.0M | ||
| Q1 25 | $1.5B | $599.0M | ||
| Q4 24 | $1.6B | $1.4B | ||
| Q3 24 | $2.0B | $1.7B | ||
| Q2 24 | $1.5B | $1.2B |
自由现金流ACGLVST
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | $596.0M | ||
| Q3 25 | $2.2B | $1.0B | ||
| Q2 25 | $1.1B | $-118.0M | ||
| Q1 25 | $1.4B | $-169.0M | ||
| Q4 24 | $1.6B | $923.0M | ||
| Q3 24 | $2.0B | $1.0B | ||
| Q2 24 | $1.5B | $698.0M |
自由现金流率ACGLVST
| Q1 26 | — | — | ||
| Q4 25 | 28.2% | 12.4% | ||
| Q3 25 | 42.6% | 21.1% | ||
| Q2 25 | 21.3% | -3.1% | ||
| Q1 25 | 31.0% | -4.0% | ||
| Q4 24 | 34.3% | 25.2% | ||
| Q3 24 | 42.5% | 23.4% | ||
| Q2 24 | 35.6% | 19.4% |
资本支出强度ACGLVST
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 17.4% | ||
| Q3 25 | 0.2% | 9.6% | ||
| Q2 25 | 0.2% | 18.4% | ||
| Q1 25 | 0.2% | 18.1% | ||
| Q4 24 | 0.3% | 11.7% | ||
| Q3 24 | 0.3% | 15.8% | ||
| Q2 24 | 0.3% | 13.8% |
现金转化率ACGLVST
| Q1 26 | 1.13× | — | ||
| Q4 25 | 1.13× | 6.15× | ||
| Q3 25 | 1.62× | 2.25× | ||
| Q2 25 | 0.91× | 1.75× | ||
| Q1 25 | 2.54× | — | ||
| Q4 24 | 1.68× | 3.07× | ||
| Q3 24 | 2.04× | 0.90× | ||
| Q2 24 | 1.20× | 3.28× |
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
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
