vs
Assurant（AIZ）与Constellation Brands（STZ）财务数据对比。点击上方公司名可切换其他公司
Assurant的季度营收约是Constellation Brands的1.5倍（$3.4B vs $2.2B），Constellation Brands净利率更高（22.6% vs 6.7%，领先15.9%），Assurant同比增速更快（7.9% vs -9.8%），Assurant自由现金流更多（$611.7M vs $370.9M），过去两年Assurant的营收复合增速更高（7.9% vs 1.9%）
Assurant Inc.是总部位于美国亚特兰大的全球化风险管理产品及服务供应商，旗下业务覆盖财产意外险、电子设备延保、预售丧葬险等多个细分领域的特色保险产品，核心运营板块分为全球住房业务和全球生活方式业务两大板块。
Constellation Brands, Inc.是总部位于美国纽约州罗切斯特的《财富》500强企业，主营啤酒、葡萄酒及烈酒的生产与营销，按销售额计算是美国最大的啤酒进口商，在全美主要啤酒供应商中市场份额位列第三。公司还通过与Canopy Growth合作在医用及娱乐大麻领域有大额投资，现有约40处设施、近9000名员工。
AIZ vs STZ — 直观对比
营收规模更大
AIZ
是对方的1.5倍
$2.2B
营收增速更快
AIZ
高出17.7%
-9.8%
净利率更高
STZ
高出15.9%
6.7%
自由现金流更多
AIZ
多$240.8M
$370.9M
两年增速更快
AIZ
近两年复合增速
1.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $2.2B |
| 净利润 | $225.2M | $502.8M |
| 毛利率 | — | 53.2% |
| 营业利润率 | 8.5% | 31.1% |
| 净利率 | 6.7% | 22.6% |
| 营收同比 | 7.9% | -9.8% |
| 净利润同比 | 11.9% | -18.4% |
| 每股收益（稀释后） | $4.37 | — |
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AIZSTZ
| Q4 25 | $3.4B | $2.2B | ||
| Q3 25 | $3.2B | $2.5B | ||
| Q2 25 | $3.2B | $2.5B | ||
| Q1 25 | $3.1B | $2.2B | ||
| Q4 24 | $3.1B | $2.5B | ||
| Q3 24 | $3.0B | $2.9B | ||
| Q2 24 | $2.9B | $2.7B | ||
| Q1 24 | $2.9B | $2.1B |
净利润AIZSTZ
| Q4 25 | $225.2M | $502.8M | ||
| Q3 25 | $265.6M | $466.0M | ||
| Q2 25 | $235.3M | $516.1M | ||
| Q1 25 | $146.6M | $-375.3M | ||
| Q4 24 | $201.3M | $615.9M | ||
| Q3 24 | $133.8M | $-1.2B | ||
| Q2 24 | $188.7M | $877.0M | ||
| Q1 24 | $236.4M | $392.4M |
毛利率AIZSTZ
| Q4 25 | — | 53.2% | ||
| Q3 25 | — | 52.8% | ||
| Q2 25 | — | 50.4% | ||
| Q1 25 | — | 51.5% | ||
| Q4 24 | — | 52.1% | ||
| Q3 24 | — | 51.8% | ||
| Q2 24 | — | 52.7% | ||
| Q1 24 | — | 48.6% |
营业利润率AIZSTZ
| Q4 25 | 8.5% | 31.1% | ||
| Q3 25 | 10.2% | 35.2% | ||
| Q2 25 | 9.2% | 28.4% | ||
| Q1 25 | 6.0% | -6.9% | ||
| Q4 24 | 8.1% | 32.2% | ||
| Q3 24 | 5.1% | -42.1% | ||
| Q2 24 | 8.0% | 35.4% | ||
| Q1 24 | 10.2% | 29.4% |
净利率AIZSTZ
| Q4 25 | 6.7% | 22.6% | ||
| Q3 25 | 8.2% | 18.8% | ||
| Q2 25 | 7.4% | 20.5% | ||
| Q1 25 | 4.8% | -17.3% | ||
| Q4 24 | 6.5% | 25.0% | ||
| Q3 24 | 4.5% | -41.1% | ||
| Q2 24 | 6.5% | 32.9% | ||
| Q1 24 | 8.2% | 18.3% |
每股收益（稀释后）AIZSTZ
| Q4 25 | $4.37 | — | ||
| Q3 25 | $5.17 | — | ||
| Q2 25 | $4.56 | — | ||
| Q1 25 | $2.83 | — | ||
| Q4 24 | $3.86 | — | ||
| Q3 24 | $2.55 | — | ||
| Q2 24 | $3.58 | — | ||
| Q1 24 | $4.47 | — |
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 | $1.8B | $152.4M |
| 总债务越低越好 | — | $10.3B |
| 股东权益账面价值 | $5.9B | $7.7B |
| 总资产 | $36.3B | $21.7B |
| 负债/权益比越低杠杆越低 | — | 1.33× |
8季度趋势，按日历期对齐
现金及短期投资AIZSTZ
| Q4 25 | $1.8B | $152.4M | ||
| Q3 25 | $1.7B | $72.0M | ||
| Q2 25 | $1.5B | $73.9M | ||
| Q1 25 | $1.7B | $68.1M | ||
| Q4 24 | $1.8B | $73.7M | ||
| Q3 24 | $1.8B | $64.6M | ||
| Q2 24 | $1.7B | $73.8M | ||
| Q1 24 | $1.3B | $152.4M |
总债务AIZSTZ
| Q4 25 | — | $10.3B | ||
| Q3 25 | — | $10.3B | ||
| Q2 25 | — | $11.2B | ||
| Q1 25 | — | $10.7B | ||
| Q4 24 | — | $10.7B | ||
| Q3 24 | — | $11.1B | ||
| Q2 24 | — | $11.1B | ||
| Q1 24 | — | $11.6B |
股东权益AIZSTZ
| Q4 25 | $5.9B | $7.7B | ||
| Q3 25 | $5.8B | $7.5B | ||
| Q2 25 | $5.5B | $7.3B | ||
| Q1 25 | $5.2B | $6.9B | ||
| Q4 24 | $5.1B | $7.8B | ||
| Q3 24 | $5.3B | $7.9B | ||
| Q2 24 | $5.0B | $10.3B | ||
| Q1 24 | $4.9B | $9.7B |
总资产AIZSTZ
| Q4 25 | $36.3B | $21.7B | ||
| Q3 25 | $35.8B | $21.4B | ||
| Q2 25 | $35.5B | $22.3B | ||
| Q1 25 | $35.0B | $21.7B | ||
| Q4 24 | $35.0B | $22.8B | ||
| Q3 24 | $35.3B | $23.1B | ||
| Q2 24 | $33.8B | $26.1B | ||
| Q1 24 | $33.2B | $25.7B |
负债/权益比AIZSTZ
| Q4 25 | — | 1.33× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.54× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 1.08× | ||
| Q1 24 | — | 1.19× |
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 | $671.0M | $616.9M |
| 自由现金流经营现金流 - 资本支出 | $611.7M | $370.9M |
| 自由现金流率自由现金流/营收 | 18.3% | 16.7% |
| 资本支出强度资本支出/营收 | 1.8% | 11.1% |
| 现金转化率经营现金流/净利润 | 2.98× | 1.23× |
| 过去12个月自由现金流最近4个季度 | $1.6B | $1.8B |
8季度趋势，按日历期对齐
经营现金流AIZSTZ
| Q4 25 | $671.0M | $616.9M | ||
| Q3 25 | $505.0M | $852.1M | ||
| Q2 25 | $265.5M | $637.2M | ||
| Q1 25 | $392.4M | $594.7M | ||
| Q4 24 | $102.8M | $685.2M | ||
| Q3 24 | $436.5M | $1.2B | ||
| Q2 24 | $710.9M | $690.5M | ||
| Q1 24 | $82.5M | $433.2M |
自由现金流AIZSTZ
| Q4 25 | $611.7M | $370.9M | ||
| Q3 25 | $442.1M | $634.8M | ||
| Q2 25 | $205.6M | $444.4M | ||
| Q1 25 | $339.0M | $312.1M | ||
| Q4 24 | $34.8M | $456.8M | ||
| Q3 24 | $389.4M | $854.0M | ||
| Q2 24 | $655.5M | $315.2M | ||
| Q1 24 | $31.7M | $76.0M |
自由现金流率AIZSTZ
| Q4 25 | 18.3% | 16.7% | ||
| Q3 25 | 13.7% | 25.6% | ||
| Q2 25 | 6.5% | 17.7% | ||
| Q1 25 | 11.0% | 14.4% | ||
| Q4 24 | 1.1% | 18.5% | ||
| Q3 24 | 13.1% | 29.3% | ||
| Q2 24 | 22.4% | 11.8% | ||
| Q1 24 | 1.1% | 3.6% |
资本支出强度AIZSTZ
| Q4 25 | 1.8% | 11.1% | ||
| Q3 25 | 1.9% | 8.8% | ||
| Q2 25 | 1.9% | 7.7% | ||
| Q1 25 | 1.7% | 13.1% | ||
| Q4 24 | 2.2% | 9.3% | ||
| Q3 24 | 1.6% | 11.2% | ||
| Q2 24 | 1.9% | 14.1% | ||
| Q1 24 | 1.8% | 16.7% |
现金转化率AIZSTZ
| Q4 25 | 2.98× | 1.23× | ||
| Q3 25 | 1.90× | 1.83× | ||
| Q2 25 | 1.13× | 1.23× | ||
| Q1 25 | 2.68× | — | ||
| Q4 24 | 0.51× | 1.11× | ||
| Q3 24 | 3.26× | — | ||
| Q2 24 | 3.77× | 0.79× | ||
| Q1 24 | 0.35× | 1.10× |
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
AIZ
| Global Lifestyle | $2.6B | 78% |
| Global Housing | $749.1M | 22% |
| Service Contracts And Sales | $34.5M | 1% |
STZ
| Beer | $2.0B | 90% |
| Constellation Wines And Spirits | $213.1M | 10% |
