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Ares Commercial Real Estate Corp（ACRE）与阿波罗全球管理（APO）财务数据对比。点击上方公司名可切换其他公司
阿波罗全球管理的季度营收约是Ares Commercial Real Estate Corp的746.4倍（$9.9B vs $13.2M）。阿波罗全球管理净利率更高（6.9% vs -29.2%，领先36.2%）。阿波罗全球管理同比增速更快（86.7% vs -24.5%）。过去两年阿波罗全球管理的营收复合增速更高（18.4% vs -15.9%）
Ares Commercial Real Estate Corp是隶属于阿瑞斯管理集团的专业金融企业，专注于商业地产领域，提供优先抵押贷款、次级债务、优先股投资等各类定制化融资解决方案，主要服务覆盖美国全境的中型商业地产所有者及运营主体。
阿波罗全球管理是美国头部另类资产管理机构，截至2025年总资产管理规模达8400亿美元，业务涵盖3920亿美元的信贷类资产（含夹层资本、对冲基金、不良贷款、担保贷款凭证等）、990亿美元私募股权，以及462亿美元的地产、基建等实体资产，为全球客户提供专业资产管理服务。
ACRE vs APO — 直观对比
营收规模更大
APO
是对方的746.4倍
$13.2M
营收增速更快
APO
高出111.2%
-24.5%
净利率更高
APO
高出36.2%
-29.2%
两年增速更快
APO
近两年复合增速
-15.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $13.2M | $9.9B |
| 净利润 | $-3.9M | $684.0M |
| 毛利率 | — | — |
| 营业利润率 | -29.2% | 17.8% |
| 净利率 | -29.2% | 6.9% |
| 营收同比 | -24.5% | 86.7% |
| 净利润同比 | 63.8% | -54.0% |
| 每股收益（稀释后） | — | $1.09 |
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ACREAPO
| Q4 25 | $13.2M | $9.9B | ||
| Q3 25 | $14.1M | $9.8B | ||
| Q2 25 | $12.6M | $6.8B | ||
| Q1 25 | $14.9M | $5.5B | ||
| Q4 24 | $17.5M | $5.3B | ||
| Q3 24 | $16.7M | $7.8B | ||
| Q2 24 | $16.8M | $6.0B | ||
| Q1 24 | $18.7M | $7.0B |
净利润ACREAPO
| Q4 25 | $-3.9M | $684.0M | ||
| Q3 25 | $4.7M | $1.7B | ||
| Q2 25 | $-11.0M | $630.0M | ||
| Q1 25 | $9.3M | $442.0M | ||
| Q4 24 | $-10.7M | $1.5B | ||
| Q3 24 | $-5.9M | $811.0M | ||
| Q2 24 | $-6.1M | $853.0M | ||
| Q1 24 | $-12.3M | $1.4B |
营业利润率ACREAPO
| Q4 25 | -29.2% | 17.8% | ||
| Q3 25 | 33.0% | 29.5% | ||
| Q2 25 | -87.8% | 12.4% | ||
| Q1 25 | 64.4% | 21.3% | ||
| Q4 24 | -61.0% | 32.6% | ||
| Q3 24 | -35.3% | 26.8% | ||
| Q2 24 | -36.5% | 23.9% | ||
| Q1 24 | -65.9% | 31.1% |
净利率ACREAPO
| Q4 25 | -29.2% | 6.9% | ||
| Q3 25 | 33.0% | 17.7% | ||
| Q2 25 | -87.8% | 9.2% | ||
| Q1 25 | 62.5% | 8.0% | ||
| Q4 24 | -60.9% | 28.1% | ||
| Q3 24 | -35.3% | 10.4% | ||
| Q2 24 | -36.5% | 14.2% | ||
| Q1 24 | -65.9% | 20.3% |
每股收益（稀释后）ACREAPO
| Q4 25 | — | $1.09 | ||
| Q3 25 | — | $2.78 | ||
| Q2 25 | — | $0.99 | ||
| Q1 25 | — | $0.68 | ||
| Q4 24 | — | $2.41 | ||
| Q3 24 | — | $1.29 | ||
| Q2 24 | — | $1.35 | ||
| Q1 24 | — | $2.28 |
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 | $29.3M | — |
| 总债务越低越好 | $948.2M | $13.4B |
| 股东权益账面价值 | $509.6M | $23.3B |
| 总资产 | $1.6B | $460.9B |
| 负债/权益比越低杠杆越低 | 1.86× | 0.57× |
8季度趋势，按日历期对齐
现金及短期投资ACREAPO
| Q4 25 | $29.3M | — | ||
| Q3 25 | $84.9M | — | ||
| Q2 25 | $90.0M | — | ||
| Q1 25 | $125.5M | — | ||
| Q4 24 | $63.8M | — | ||
| Q3 24 | $68.9M | — | ||
| Q2 24 | $70.6M | — | ||
| Q1 24 | $99.5M | — |
总债务ACREAPO
| Q4 25 | $948.2M | $13.4B | ||
| Q3 25 | — | $12.6B | ||
| Q2 25 | — | $12.1B | ||
| Q1 25 | — | $10.6B | ||
| Q4 24 | $718.5M | $10.6B | ||
| Q3 24 | — | $9.8B | ||
| Q2 24 | — | $9.8B | ||
| Q1 24 | — | $9.6B |
股东权益ACREAPO
| Q4 25 | $509.6M | $23.3B | ||
| Q3 25 | $521.0M | $23.1B | ||
| Q2 25 | $523.7M | $19.3B | ||
| Q1 25 | $542.1M | $18.0B | ||
| Q4 24 | $540.1M | $17.3B | ||
| Q3 24 | $563.8M | $17.9B | ||
| Q2 24 | $582.3M | $15.3B | ||
| Q1 24 | $601.1M | $14.8B |
总资产ACREAPO
| Q4 25 | $1.6B | $460.9B | ||
| Q3 25 | $1.4B | $449.5B | ||
| Q2 25 | $1.4B | $419.6B | ||
| Q1 25 | $1.5B | $395.0B | ||
| Q4 24 | $1.8B | $377.9B | ||
| Q3 24 | $1.9B | $368.7B | ||
| Q2 24 | $2.1B | $346.5B | ||
| Q1 24 | $2.1B | $334.1B |
负债/权益比ACREAPO
| Q4 25 | 1.86× | 0.57× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.59× | ||
| Q4 24 | 1.33× | 0.61× | ||
| Q3 24 | — | 0.55× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.65× |
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 | $4.6M | $4.7B |
| 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 | — | 6.83× |
| 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ACREAPO
| Q4 25 | $4.6M | $4.7B | ||
| Q3 25 | $3.8M | $303.0M | ||
| Q2 25 | $4.9M | $1.3B | ||
| Q1 25 | $8.0M | $1.0B | ||
| Q4 24 | $7.1M | $-4.0M | ||
| Q3 24 | $8.4M | $1.9B | ||
| Q2 24 | $8.7M | $1.3B | ||
| Q1 24 | $11.4M | $70.0M |
现金转化率ACREAPO
| Q4 25 | — | 6.83× | ||
| Q3 25 | 0.82× | 0.17× | ||
| Q2 25 | — | 2.00× | ||
| Q1 25 | 0.86× | 2.29× | ||
| Q4 24 | — | -0.00× | ||
| Q3 24 | — | 2.29× | ||
| Q2 24 | — | 1.56× | ||
| Q1 24 | — | 0.05× |
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
ACRE
暂无分部数据
APO
| Retirement Services Segment | $8.5B | 86% |
| Asset Management1 | $681.0M | 7% |
| Principal Investing Segment | $624.0M | 6% |
| Management Service Incentive | $96.0M | 1% |
