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西联汇款（AFG）与Graham Holdings Co（GHC）财务数据对比。点击上方公司名可切换其他公司
西联汇款的季度营收约是Graham Holdings Co的1.6倍（$2.1B vs $1.3B），西联汇款净利率更高（14.5% vs 8.7%，领先5.8%），Graham Holdings Co同比增速更快（0.4% vs -4.0%），过去两年Graham Holdings Co的营收复合增速更高（4.2% vs 4.0%）
西联汇款是总部位于美国科罗拉多州丹佛市的跨国金融服务企业，为全球个人及商业客户提供跨境汇款、支付等多元金融解决方案，在全球绝大多数国家和地区拥有覆盖广泛的服务网络。
Graham Holdings是一家总部位于美国弗吉尼亚州阿灵顿县、在特拉华州注册的多元化综合控股集团，曾持有知名媒体《华盛顿邮报》与《新闻周刊》的所有权，旗下业务覆盖多个领域，在北美市场拥有深厚的行业运营积淀。
AFG vs GHC — 直观对比
营收规模更大
AFG
是对方的1.6倍
$1.3B
营收增速更快
GHC
高出4.4%
-4.0%
净利率更高
AFG
高出5.8%
8.7%
两年增速更快
GHC
近两年复合增速
4.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.3B |
| 净利润 | $299.0M | $108.7M |
| 毛利率 | — | — |
| 营业利润率 | 18.4% | 3.8% |
| 净利率 | 14.5% | 8.7% |
| 营收同比 | -4.0% | 0.4% |
| 净利润同比 | 17.3% | -80.2% |
| 每股收益（稀释后） | $3.59 | $24.76 |
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AFGGHC
| Q4 25 | $2.1B | $1.3B | ||
| Q3 25 | $2.3B | $1.3B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.9B | $1.2B | ||
| Q4 24 | $2.1B | $1.2B | ||
| Q3 24 | $2.4B | $1.2B | ||
| Q2 24 | $1.9B | $1.2B | ||
| Q1 24 | $1.9B | $1.2B |
净利润AFGGHC
| Q4 25 | $299.0M | $108.7M | ||
| Q3 25 | $215.0M | $122.9M | ||
| Q2 25 | $174.0M | $36.7M | ||
| Q1 25 | $154.0M | $23.9M | ||
| Q4 24 | $255.0M | $548.8M | ||
| Q3 24 | $181.0M | $72.5M | ||
| Q2 24 | $209.0M | $-21.0M | ||
| Q1 24 | $242.0M | $124.4M |
营业利润率AFGGHC
| Q4 25 | 18.4% | 3.8% | ||
| Q3 25 | 11.5% | 5.2% | ||
| Q2 25 | 11.9% | 6.0% | ||
| Q1 25 | 10.6% | 4.1% | ||
| Q4 24 | 14.9% | 5.8% | ||
| Q3 24 | 9.7% | 6.8% | ||
| Q2 24 | 14.3% | 2.2% | ||
| Q1 24 | 15.9% | 3.1% |
净利率AFGGHC
| Q4 25 | 14.5% | 8.7% | ||
| Q3 25 | 9.2% | 9.6% | ||
| Q2 25 | 9.0% | 3.0% | ||
| Q1 25 | 8.3% | 2.0% | ||
| Q4 24 | 11.9% | 44.1% | ||
| Q3 24 | 7.6% | 6.0% | ||
| Q2 24 | 11.0% | -1.8% | ||
| Q1 24 | 12.7% | 10.8% |
每股收益（稀释后）AFGGHC
| Q4 25 | $3.59 | $24.76 | ||
| Q3 25 | $2.58 | $27.91 | ||
| Q2 25 | $2.07 | $8.35 | ||
| Q1 25 | $1.84 | $5.45 | ||
| Q4 24 | $3.03 | $124.05 | ||
| Q3 24 | $2.16 | $16.42 | ||
| Q2 24 | $2.49 | $-4.79 | ||
| Q1 24 | $2.89 | $27.72 |
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 | $1.7B | $267.0M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $4.8B | $4.8B |
| 总资产 | $32.6B | $8.4B |
| 负债/权益比越低杠杆越低 | 0.38× | — |
8季度趋势，按日历期对齐
现金及短期投资AFGGHC
| Q4 25 | $1.7B | $267.0M | ||
| Q3 25 | $1.8B | $190.8M | ||
| Q2 25 | $1.3B | $176.2M | ||
| Q1 25 | $1.3B | $156.7M | ||
| Q4 24 | $1.4B | $260.9M | ||
| Q3 24 | $1.3B | $244.4M | ||
| Q2 24 | $1.1B | $140.7M | ||
| Q1 24 | $1.1B | $130.9M |
总债务AFGGHC
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — |
股东权益AFGGHC
| Q4 25 | $4.8B | $4.8B | ||
| Q3 25 | $4.7B | $4.5B | ||
| Q2 25 | $4.5B | $4.4B | ||
| Q1 25 | $4.4B | $4.3B | ||
| Q4 24 | $4.5B | $4.3B | ||
| Q3 24 | $4.7B | $4.0B | ||
| Q2 24 | $4.4B | $4.0B | ||
| Q1 24 | $4.2B | $4.0B |
总资产AFGGHC
| Q4 25 | $32.6B | $8.4B | ||
| Q3 25 | $33.8B | $7.9B | ||
| Q2 25 | $30.7B | $7.6B | ||
| Q1 25 | $30.3B | $7.6B | ||
| Q4 24 | $30.8B | $7.7B | ||
| Q3 24 | $32.6B | $7.4B | ||
| Q2 24 | $29.9B | $7.2B | ||
| Q1 24 | $30.0B | $7.3B |
负债/权益比AFGGHC
| Q4 25 | 0.38× | — | ||
| Q3 25 | 0.38× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 0.33× | — | ||
| Q3 24 | 0.31× | — | ||
| Q2 24 | 0.34× | — | ||
| Q1 24 | 0.35× | — |
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 | $784.0M | $28.3M |
| 自由现金流经营现金流 - 资本支出 | — | $5.0M |
| 自由现金流率自由现金流/营收 | — | 0.4% |
| 资本支出强度资本支出/营收 | — | 1.9% |
| 现金转化率经营现金流/净利润 | 2.62× | 0.26× |
| 过去12个月自由现金流最近4个季度 | — | $275.3M |
8季度趋势，按日历期对齐
经营现金流AFGGHC
| Q4 25 | $784.0M | $28.3M | ||
| Q3 25 | $216.0M | $178.1M | ||
| Q2 25 | $191.0M | $94.8M | ||
| Q1 25 | $342.0M | $46.0M | ||
| Q4 24 | $674.0M | $116.3M | ||
| Q3 24 | $459.0M | $237.6M | ||
| Q2 24 | $-88.0M | $52.0M | ||
| Q1 24 | $107.0M | $1.1M |
自由现金流AFGGHC
| Q4 25 | — | $5.0M | ||
| Q3 25 | — | $161.8M | ||
| Q2 25 | — | $78.0M | ||
| Q1 25 | — | $30.5M | ||
| Q4 24 | — | $91.1M | ||
| Q3 24 | — | $219.4M | ||
| Q2 24 | — | $33.7M | ||
| Q1 24 | — | $-20.2M |
自由现金流率AFGGHC
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 12.6% | ||
| Q2 25 | — | 6.4% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 18.2% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | -1.8% |
资本支出强度AFGGHC
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 2.0% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 1.8% |
现金转化率AFGGHC
| Q4 25 | 2.62× | 0.26× | ||
| Q3 25 | 1.00× | 1.45× | ||
| Q2 25 | 1.10× | 2.58× | ||
| Q1 25 | 2.22× | 1.93× | ||
| Q4 24 | 2.64× | 0.21× | ||
| Q3 24 | 2.54× | 3.28× | ||
| Q2 24 | -0.42× | — | ||
| Q1 24 | 0.44× | 0.01× |
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
AFG
| Property And Casualty Insurance | $2.0B | 96% |
| Other | $83.0M | 4% |
GHC
| Products | $602.7M | 48% |
| Kaplan International | $251.9M | 20% |
| Manufacturing | $117.8M | 9% |
| Television Broadcasting | $110.5M | 9% |
| Higher Education | $83.8M | 7% |
| Supplemental Education | $74.9M | 6% |
| Related Party | $4.4M | 0% |
