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Aflac（AFL）与NMI Holdings, Inc.（NMIH）财务数据对比。点击上方公司名可切换其他公司
Aflac的季度营收约是NMI Holdings, Inc.的26.9倍（$4.9B vs $180.7M）。NMI Holdings, Inc.净利率更高（52.1% vs 28.3%，领先23.8%）。NMI Holdings, Inc.同比增速更快（8.5% vs -10.0%）。过去两年NMI Holdings, Inc.的营收复合增速更高（7.5% vs -5.4%）
Aflac是美国知名保险企业，也是美国最大的补充保险提供商，成立于1955年，总部位于佐治亚州哥伦布市。公司在美国推出多类保险产品，其中薪资抵扣型保险服务知名度较高，参保人遭遇保障范围内的意外或疾病时可获现金赔付，目前已为全球超5000万用户提供财务保障。
NMI控股是美国头部私人抵押贷款保险服务商，主要为贷款机构提供抵押贷款担保保险产品，降低住房抵押贷款信用风险，服务美国本土住宅市场，助力符合资质的购房者获得购房便利，同时保护放贷机构免受违约损失。
AFL vs NMIH — 直观对比
营收规模更大
AFL
是对方的26.9倍
$180.7M
营收增速更快
NMIH
高出18.5%
-10.0%
净利率更高
NMIH
高出23.8%
28.3%
两年增速更快
NMIH
近两年复合增速
-5.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $4.9B | $180.7M |
| 净利润 | $1.4B | $94.2M |
| 毛利率 | — | — |
| 营业利润率 | 32.3% | 67.0% |
| 净利率 | 28.3% | 52.1% |
| 营收同比 | -10.0% | 8.5% |
| 净利润同比 | -27.5% | 9.3% |
| 每股收益（稀释后） | $2.58 | $1.21 |
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AFLNMIH
| Q4 25 | $4.9B | $180.7M | ||
| Q3 25 | $4.7B | $178.7M | ||
| Q2 25 | $4.2B | $173.8M | ||
| Q1 25 | $3.4B | $173.2M | ||
| Q4 24 | $5.4B | $166.5M | ||
| Q3 24 | $2.9B | $166.1M | ||
| Q2 24 | $5.1B | $162.1M | ||
| Q1 24 | $5.4B | $156.3M |
净利润AFLNMIH
| Q4 25 | $1.4B | $94.2M | ||
| Q3 25 | $1.6B | $96.0M | ||
| Q2 25 | $599.0M | $96.2M | ||
| Q1 25 | $29.0M | $102.6M | ||
| Q4 24 | $1.9B | $86.2M | ||
| Q3 24 | $-93.0M | $92.8M | ||
| Q2 24 | $1.8B | $92.1M | ||
| Q1 24 | $1.9B | $89.0M |
营业利润率AFLNMIH
| Q4 25 | 32.3% | 67.0% | ||
| Q3 25 | 42.1% | 69.2% | ||
| Q2 25 | 19.8% | 71.1% | ||
| Q1 25 | 4.3% | 75.8% | ||
| Q4 24 | 39.5% | 66.6% | ||
| Q3 24 | 3.1% | 71.8% | ||
| Q2 24 | 39.3% | 73.2% | ||
| Q1 24 | 39.9% | 73.3% |
净利率AFLNMIH
| Q4 25 | 28.3% | 52.1% | ||
| Q3 25 | 34.6% | 53.7% | ||
| Q2 25 | 14.4% | 55.3% | ||
| Q1 25 | 0.9% | 59.2% | ||
| Q4 24 | 35.2% | 51.8% | ||
| Q3 24 | -3.2% | 55.9% | ||
| Q2 24 | 34.2% | 56.8% | ||
| Q1 24 | 34.6% | 57.0% |
每股收益（稀释后）AFLNMIH
| Q4 25 | $2.58 | $1.21 | ||
| Q3 25 | $3.08 | $1.22 | ||
| Q2 25 | $1.11 | $1.21 | ||
| Q1 25 | $0.05 | $1.28 | ||
| Q4 24 | $3.45 | $1.07 | ||
| Q3 24 | $-0.17 | $1.15 | ||
| Q2 24 | $3.10 | $1.13 | ||
| Q1 24 | $3.25 | $1.08 |
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 | $6.2B | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $29.5B | $2.6B |
| 总资产 | $116.5B | $3.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AFLNMIH
| Q4 25 | $6.2B | — | ||
| Q3 25 | $6.8B | — | ||
| Q2 25 | $7.0B | — | ||
| Q1 25 | $5.2B | — | ||
| Q4 24 | $6.2B | — | ||
| Q3 24 | $5.6B | — | ||
| Q2 24 | $6.1B | — | ||
| Q1 24 | $5.1B | — |
股东权益AFLNMIH
| Q4 25 | $29.5B | $2.6B | ||
| Q3 25 | $28.7B | $2.5B | ||
| Q2 25 | $27.2B | $2.4B | ||
| Q1 25 | $26.3B | $2.3B | ||
| Q4 24 | $26.1B | $2.2B | ||
| Q3 24 | $24.8B | $2.2B | ||
| Q2 24 | $26.0B | $2.0B | ||
| Q1 24 | $23.5B | $2.0B |
总资产AFLNMIH
| Q4 25 | $116.5B | $3.8B | ||
| Q3 25 | $122.3B | $3.7B | ||
| Q2 25 | $124.7B | $3.6B | ||
| Q1 25 | $120.3B | $3.5B | ||
| Q4 24 | $117.6B | $3.3B | ||
| Q3 24 | $128.4B | $3.3B | ||
| Q2 24 | $120.2B | $3.1B | ||
| Q1 24 | $124.7B | $3.0B |
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 | $315.0M | $61.7M |
| 自由现金流经营现金流 - 资本支出 | — | $60.1M |
| 自由现金流率自由现金流/营收 | — | 33.3% |
| 资本支出强度资本支出/营收 | — | 0.9% |
| 现金转化率经营现金流/净利润 | 0.23× | 0.66× |
| 过去12个月自由现金流最近4个季度 | — | $412.5M |
8季度趋势，按日历期对齐
经营现金流AFLNMIH
| Q4 25 | $315.0M | $61.7M | ||
| Q3 25 | $1.3B | $128.0M | ||
| Q2 25 | $399.0M | $128.4M | ||
| Q1 25 | $589.0M | $101.2M | ||
| Q4 24 | $333.0M | $35.8M | ||
| Q3 24 | $1.3B | $128.4M | ||
| Q2 24 | $255.0M | $117.8M | ||
| Q1 24 | $849.0M | $111.6M |
自由现金流AFLNMIH
| Q4 25 | — | $60.1M | ||
| Q3 25 | — | $126.3M | ||
| Q2 25 | — | $126.7M | ||
| Q1 25 | — | $99.4M | ||
| Q4 24 | — | $34.4M | ||
| Q3 24 | — | $126.9M | ||
| Q2 24 | — | $115.9M | ||
| Q1 24 | — | $109.4M |
自由现金流率AFLNMIH
| Q4 25 | — | 33.3% | ||
| Q3 25 | — | 70.7% | ||
| Q2 25 | — | 72.9% | ||
| Q1 25 | — | 57.4% | ||
| Q4 24 | — | 20.7% | ||
| Q3 24 | — | 76.4% | ||
| Q2 24 | — | 71.5% | ||
| Q1 24 | — | 70.0% |
资本支出强度AFLNMIH
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 1.4% |
现金转化率AFLNMIH
| Q4 25 | 0.23× | 0.66× | ||
| Q3 25 | 0.76× | 1.33× | ||
| Q2 25 | 0.67× | 1.33× | ||
| Q1 25 | 20.31× | 0.99× | ||
| Q4 24 | 0.18× | 0.42× | ||
| Q3 24 | — | 1.38× | ||
| Q2 24 | 0.15× | 1.28× | ||
| Q1 24 | 0.45× | 1.25× |
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
AFL
| Aflac Japan | $2.3B | 47% |
| Aflac US | $1.7B | 35% |
| Other | $862.0M | 18% |
NMIH
暂无分部数据
