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AES Corporation（AES）与Brown & Brown（BRO）财务数据对比。点击上方公司名可切换其他公司
AES Corporation的季度营收约是Brown & Brown的1.9倍（$3.1B vs $1.6B），Brown & Brown净利率更高（16.5% vs 10.3%，领先6.2%），Brown & Brown同比增速更快（35.8% vs 4.7%），Brown & Brown自由现金流更多（$424.0M vs $-47.0M），过去两年Brown & Brown的营收复合增速更高（13.0% vs 0.3%）
AES公司是美国知名公用事业及发电企业，总部位于弗吉尼亚州阿灵顿，位列《财富》全球500强。集团在全球15个国家运营电力生产及分销业务，持有并运营多座发电厂，向终端用户、公用事业机构、工业设施等客户售电，全球员工总数达10500人。
Brown & Brown是总部位于美国佛罗里达州代托纳比奇的保险经纪公司，是美国规模最大的独立保险中介机构之一，面向企业、政府机构、专业组织、行业协会及个人客户提供风险管理解决方案、保险产品及相关服务。
AES vs BRO — 直观对比
营收规模更大
AES
是对方的1.9倍
$1.6B
营收增速更快
BRO
高出31.1%
4.7%
净利率更高
BRO
高出6.2%
10.3%
自由现金流更多
BRO
多$471.0M
$-47.0M
两年增速更快
BRO
近两年复合增速
0.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $1.6B |
| 净利润 | $320.0M | $265.0M |
| 毛利率 | 18.8% | — |
| 营业利润率 | -8.7% | — |
| 净利率 | 10.3% | 16.5% |
| 营收同比 | 4.7% | 35.8% |
| 净利润同比 | -42.9% | 26.8% |
| 每股收益（稀释后） | $0.45 | $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AESBRO
| Q4 25 | $3.1B | $1.6B | ||
| Q3 25 | $3.4B | $1.6B | ||
| Q2 25 | $2.9B | $1.3B | ||
| Q1 25 | $2.9B | $1.4B | ||
| Q4 24 | $3.0B | $1.2B | ||
| Q3 24 | $3.3B | $1.2B | ||
| Q2 24 | $2.9B | $1.2B | ||
| Q1 24 | $3.1B | $1.3B |
净利润AESBRO
| Q4 25 | $320.0M | $265.0M | ||
| Q3 25 | $639.0M | $227.0M | ||
| Q2 25 | $-95.0M | $231.0M | ||
| Q1 25 | $46.0M | $331.0M | ||
| Q4 24 | $560.0M | $209.0M | ||
| Q3 24 | $502.0M | $234.0M | ||
| Q2 24 | $185.0M | $257.0M | ||
| Q1 24 | $432.0M | $293.0M |
毛利率AESBRO
| Q4 25 | 18.8% | — | ||
| Q3 25 | 21.9% | — | ||
| Q2 25 | 15.9% | — | ||
| Q1 25 | 15.1% | — | ||
| Q4 24 | 14.2% | — | ||
| Q3 24 | 22.0% | — | ||
| Q2 24 | 18.8% | — | ||
| Q1 24 | 20.1% | — |
营业利润率AESBRO
| Q4 25 | -8.7% | — | ||
| Q3 25 | 9.8% | — | ||
| Q2 25 | 1.4% | — | ||
| Q1 25 | -0.8% | — | ||
| Q4 24 | 12.3% | 23.3% | ||
| Q3 24 | 10.0% | 26.7% | ||
| Q2 24 | -2.6% | 29.4% | ||
| Q1 24 | 9.0% | 28.9% |
净利率AESBRO
| Q4 25 | 10.3% | 16.5% | ||
| Q3 25 | 19.1% | 14.1% | ||
| Q2 25 | -3.3% | 18.0% | ||
| Q1 25 | 1.6% | 23.6% | ||
| Q4 24 | 18.9% | 17.7% | ||
| Q3 24 | 15.3% | 19.7% | ||
| Q2 24 | 6.3% | 21.8% | ||
| Q1 24 | 14.0% | 23.3% |
每股收益（稀释后）AESBRO
| Q4 25 | $0.45 | $0.55 | ||
| Q3 25 | $0.89 | $0.68 | ||
| Q2 25 | $-0.15 | $0.78 | ||
| Q1 25 | $0.07 | $1.15 | ||
| Q4 24 | $0.78 | $0.73 | ||
| Q3 24 | $0.71 | $0.81 | ||
| Q2 24 | $0.27 | $0.90 | ||
| Q1 24 | $0.60 | $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 | $1.6B | $1.1B |
| 总债务越低越好 | — | $7.6B |
| 股东权益账面价值 | $4.1B | $12.6B |
| 总资产 | $51.8B | $30.0B |
| 负债/权益比越低杠杆越低 | — | 0.61× |
8季度趋势，按日历期对齐
现金及短期投资AESBRO
| Q4 25 | $1.6B | $1.1B | ||
| Q3 25 | $1.8B | $1.2B | ||
| Q2 25 | $1.4B | $8.9B | ||
| Q1 25 | $1.8B | $669.0M | ||
| Q4 24 | $1.6B | $685.0M | ||
| Q3 24 | $2.0B | $968.0M | ||
| Q2 24 | $1.8B | $1.1B | ||
| Q1 24 | $2.4B | $591.0M |
总债务AESBRO
| Q4 25 | — | $7.6B | ||
| Q3 25 | — | $7.7B | ||
| Q2 25 | — | $7.5B | ||
| Q1 25 | — | $3.8B | ||
| Q4 24 | — | $3.8B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $4.1B | ||
| Q1 24 | — | $3.9B |
股东权益AESBRO
| Q4 25 | $4.1B | $12.6B | ||
| Q3 25 | $3.9B | $12.4B | ||
| Q2 25 | $3.4B | $11.6B | ||
| Q1 25 | $3.5B | $6.8B | ||
| Q4 24 | $3.6B | $6.4B | ||
| Q3 24 | $3.3B | $6.5B | ||
| Q2 24 | $3.1B | $6.0B | ||
| Q1 24 | $2.9B | $5.8B |
总资产AESBRO
| Q4 25 | $51.8B | $30.0B | ||
| Q3 25 | $50.8B | $29.4B | ||
| Q2 25 | $48.5B | $25.6B | ||
| Q1 25 | $48.6B | $16.8B | ||
| Q4 24 | $47.4B | $17.6B | ||
| Q3 24 | $50.1B | $17.5B | ||
| Q2 24 | $47.7B | $15.9B | ||
| Q1 24 | $47.0B | $14.8B |
负债/权益比AESBRO
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | 0.62× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | — | 0.59× | ||
| Q3 24 | — | 0.55× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | — | 0.67× |
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 | $1.5B | $444.0M |
| 自由现金流经营现金流 - 资本支出 | $-47.0M | $424.0M |
| 自由现金流率自由现金流/营收 | -1.5% | 26.4% |
| 资本支出强度资本支出/营收 | 49.5% | 1.2% |
| 现金转化率经营现金流/净利润 | 4.65× | 1.68× |
| 过去12个月自由现金流最近4个季度 | $-1.6B | $1.4B |
8季度趋势，按日历期对齐
经营现金流AESBRO
| Q4 25 | $1.5B | $444.0M | ||
| Q3 25 | $1.3B | $468.0M | ||
| Q2 25 | $976.0M | $325.0M | ||
| Q1 25 | $545.0M | $213.0M | ||
| Q4 24 | $1.1B | $361.0M | ||
| Q3 24 | $985.0M | $440.0M | ||
| Q2 24 | $392.0M | $360.0M | ||
| Q1 24 | $287.0M | $13.0M |
自由现金流AESBRO
| Q4 25 | $-47.0M | $424.0M | ||
| Q3 25 | $-511.0M | $452.0M | ||
| Q2 25 | $-356.0M | $310.0M | ||
| Q1 25 | $-709.0M | $196.0M | ||
| Q4 24 | $-639.0M | $341.0M | ||
| Q3 24 | $-847.0M | $417.0M | ||
| Q2 24 | $-1.3B | $334.0M | ||
| Q1 24 | $-1.9B | $0 |
自由现金流率AESBRO
| Q4 25 | -1.5% | 26.4% | ||
| Q3 25 | -15.2% | 28.1% | ||
| Q2 25 | -12.5% | 24.1% | ||
| Q1 25 | -24.2% | 14.0% | ||
| Q4 24 | -21.6% | 28.8% | ||
| Q3 24 | -25.8% | 35.2% | ||
| Q2 24 | -43.9% | 28.4% | ||
| Q1 24 | -60.3% | 0.0% |
资本支出强度AESBRO
| Q4 25 | 49.5% | 1.2% | ||
| Q3 25 | 54.0% | 1.0% | ||
| Q2 25 | 46.7% | 1.2% | ||
| Q1 25 | 42.9% | 1.2% | ||
| Q4 24 | 58.3% | 1.7% | ||
| Q3 24 | 55.7% | 1.9% | ||
| Q2 24 | 57.3% | 2.2% | ||
| Q1 24 | 69.6% | 1.0% |
现金转化率AESBRO
| Q4 25 | 4.65× | 1.68× | ||
| Q3 25 | 2.03× | 2.06× | ||
| Q2 25 | — | 1.41× | ||
| Q1 25 | 11.85× | 0.64× | ||
| Q4 24 | 1.94× | 1.73× | ||
| Q3 24 | 1.96× | 1.88× | ||
| Q2 24 | 2.12× | 1.40× | ||
| Q1 24 | 0.66× | 0.04× |
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
AES
| Electric Distribution | $1.0B | 33% |
| Regulated Revenue | $1.0B | 33% |
| Renewables | $786.0M | 25% |
| AES Andes | $225.0M | 7% |
| Corporate Other And Other | $38.0M | 1% |
| Other Expense | $10.0M | 0% |
BRO
| US | $1.4B | 87% |
| GB | $147.0M | 9% |
| Profit Sharing Contingent Commission Revenue | $33.0M | 2% |
| Other Supplemental Commissions Revenue | $25.0M | 2% |
