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美国国际集团（AIG）与MARA Holdings, Inc.（MARA）财务数据对比。点击上方公司名可切换其他公司
美国国际集团的季度营收约是MARA Holdings, Inc.的32.4倍（$6.5B vs $202.3M），美国国际集团净利率更高（11.2% vs -14298.3%，领先14309.5%），美国国际集团同比增速更快（380.9% vs -5.6%），过去两年MARA Holdings, Inc.的营收复合增速更高（10.7% vs -18.4%）
美国国际集团（AIG）是全球知名保险提供商，服务覆盖北美及全球其他地区，面向商业客户、机构客户及个人用户推出多元化保险产品，业务涵盖责任险、财产险、航空航天险、政治风险保险、贸易信用保险、农业保险、海事保险等多个领域，可满足不同客户的风险保障需求。
MARA Holdings, Inc.是一家美国数字资产技术及加密货币挖矿企业，总部位于佛罗里达州劳德代尔堡。公司成立于2010年，最初以专利控股公司的模式运营，2010年代后期转向专注于区块链基础设施与数字资产相关业务。
AIG vs MARA — 直观对比
营收规模更大
AIG
是对方的32.4倍
$202.3M
营收增速更快
AIG
高出386.5%
-5.6%
净利率更高
AIG
高出14309.5%
-14298.3%
两年增速更快
MARA
近两年复合增速
-18.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.5B | $202.3M |
| 净利润 | $735.0M | $-1.7B |
| 毛利率 | — | — |
| 营业利润率 | 10.1% | -11795.9% |
| 净利率 | 11.2% | -14298.3% |
| 营收同比 | 380.9% | -5.6% |
| 净利润同比 | -18.2% | -423.5% |
| 每股收益（稀释后） | $1.36 | $-4.25 |
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AIGMARA
| Q4 25 | $6.5B | $202.3M | ||
| Q3 25 | $6.4B | $252.4M | ||
| Q2 25 | $7.1B | $238.5M | ||
| Q1 25 | $6.8B | $213.9M | ||
| Q4 24 | — | $214.4M | ||
| Q3 24 | $6.8B | $131.6M | ||
| Q2 24 | $6.6B | $145.1M | ||
| Q1 24 | $12.6B | $165.2M |
净利润AIGMARA
| Q4 25 | $735.0M | $-1.7B | ||
| Q3 25 | $519.0M | $123.1M | ||
| Q2 25 | $1.1B | $808.2M | ||
| Q1 25 | $698.0M | $-533.4M | ||
| Q4 24 | — | $528.5M | ||
| Q3 24 | $459.0M | $-124.8M | ||
| Q2 24 | $-4.0B | $-199.7M | ||
| Q1 24 | $1.2B | $337.2M |
毛利率AIGMARA
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -2613.4% | ||
| Q3 24 | — | -1065.0% | ||
| Q2 24 | — | -587.6% | ||
| Q1 24 | — | -289.4% |
营业利润率AIGMARA
| Q4 25 | 10.1% | -11795.9% | ||
| Q3 25 | 11.2% | 18.9% | ||
| Q2 25 | 21.8% | — | ||
| Q1 25 | 14.2% | -253.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | 9.6% | -130.8% | ||
| Q2 24 | 9.4% | -160.1% | ||
| Q1 24 | 16.3% | — |
净利率AIGMARA
| Q4 25 | 11.2% | -14298.3% | ||
| Q3 25 | 8.2% | 48.8% | ||
| Q2 25 | 16.1% | 338.9% | ||
| Q1 25 | 10.3% | -249.4% | ||
| Q4 24 | — | 5367.4% | ||
| Q3 24 | 6.8% | -94.8% | ||
| Q2 24 | -60.6% | -137.6% | ||
| Q1 24 | 9.7% | 204.1% |
每股收益（稀释后）AIGMARA
| Q4 25 | $1.36 | $-4.25 | ||
| Q3 25 | $0.93 | $0.27 | ||
| Q2 25 | $1.98 | $1.84 | ||
| Q1 25 | $1.16 | $-1.55 | ||
| Q4 24 | — | $1.60 | ||
| Q3 24 | $0.71 | $-0.42 | ||
| Q2 24 | $-5.96 | $-0.72 | ||
| Q1 24 | $1.74 | $1.26 |
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 | — | $547.1M |
| 总债务越低越好 | $9.2B | $3.6B |
| 股东权益账面价值 | $41.1B | $3.5B |
| 总资产 | $161.3B | $7.3B |
| 负债/权益比越低杠杆越低 | 0.22× | 1.04× |
8季度趋势，按日历期对齐
现金及短期投资AIGMARA
| Q4 25 | — | $547.1M | ||
| Q3 25 | — | $826.4M | ||
| Q2 25 | — | $109.5M | ||
| Q1 25 | — | $196.2M | ||
| Q4 24 | — | $391.8M | ||
| Q3 24 | — | $164.3M | ||
| Q2 24 | — | $256.0M | ||
| Q1 24 | — | $324.3M |
总债务AIGMARA
| Q4 25 | $9.2B | $3.6B | ||
| Q3 25 | — | $3.2B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $618.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AIGMARA
| Q4 25 | $41.1B | $3.5B | ||
| Q3 25 | $41.1B | $5.2B | ||
| Q2 25 | $41.5B | $4.8B | ||
| Q1 25 | $41.4B | $3.7B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | $45.0B | $2.9B | ||
| Q2 24 | $44.4B | $2.6B | ||
| Q1 24 | $43.4B | $2.5B |
总资产AIGMARA
| Q4 25 | $161.3B | $7.3B | ||
| Q3 25 | $163.4B | $9.2B | ||
| Q2 25 | $166.0B | $7.7B | ||
| Q1 25 | $161.9B | $6.4B | ||
| Q4 24 | — | $6.8B | ||
| Q3 24 | $169.4B | $3.6B | ||
| Q2 24 | $167.9B | $3.1B | ||
| Q1 24 | $544.1B | $3.0B |
负债/权益比AIGMARA
| Q4 25 | 0.22× | 1.04× | ||
| Q3 25 | — | 0.63× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.62× | ||
| Q4 24 | — | 0.59× | ||
| Q3 24 | — | 0.22× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $636.0M | $-802.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-1.2B |
| 自由现金流率自由现金流/营收 | — | -598.0% |
| 资本支出强度资本支出/营收 | — | 201.2% |
| 现金转化率经营现金流/净利润 | 0.87× | — |
| 过去12个月自由现金流最近4个季度 | — | $-2.0B |
8季度趋势，按日历期对齐
经营现金流AIGMARA
| Q4 25 | $636.0M | $-802.7M | ||
| Q3 25 | $1.3B | $-199.0M | ||
| Q2 25 | $1.4B | $-163.4M | ||
| Q1 25 | $-56.0M | $-215.5M | ||
| Q4 24 | — | $-677.0M | ||
| Q3 24 | $1.7B | $-160.1M | ||
| Q2 24 | $930.0M | $-115.2M | ||
| Q1 24 | $519.0M | $-88.3M |
自由现金流AIGMARA
| Q4 25 | — | $-1.2B | ||
| Q3 25 | — | $-283.9M | ||
| Q2 25 | — | $-282.4M | ||
| Q1 25 | — | $-254.3M | ||
| Q4 24 | — | $-927.8M | ||
| Q3 24 | — | $-198.1M | ||
| Q2 24 | — | $-132.4M | ||
| Q1 24 | — | $-97.4M |
自由现金流率AIGMARA
| Q4 25 | — | -598.0% | ||
| Q3 25 | — | -112.5% | ||
| Q2 25 | — | -118.4% | ||
| Q1 25 | — | -118.9% | ||
| Q4 24 | — | -432.8% | ||
| Q3 24 | — | -150.5% | ||
| Q2 24 | — | -91.2% | ||
| Q1 24 | — | -59.0% |
资本支出强度AIGMARA
| Q4 25 | — | 201.2% | ||
| Q3 25 | — | 33.6% | ||
| Q2 25 | — | 49.9% | ||
| Q1 25 | — | 18.2% | ||
| Q4 24 | — | 117.0% | ||
| Q3 24 | — | 28.9% | ||
| Q2 24 | — | 11.9% | ||
| Q1 24 | — | 5.5% |
现金转化率AIGMARA
| Q4 25 | 0.87× | — | ||
| Q3 25 | 2.59× | -1.62× | ||
| Q2 25 | 1.22× | -0.20× | ||
| Q1 25 | -0.08× | — | ||
| Q4 24 | — | -1.28× | ||
| Q3 24 | 3.70× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.43× | -0.26× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
