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Arthur J. Gallagher & Co.（AJG）与邦吉（BG）财务数据对比。点击上方公司名可切换其他公司
邦吉的季度营收约是Arthur J. Gallagher & Co.的1.3倍（$4.9B vs $3.6B），Arthur J. Gallagher & Co.净利率更高（4.2% vs 1.9%，领先2.2%），Arthur J. Gallagher & Co.同比增速更快（33.6% vs 22.2%），邦吉自由现金流更多（$809.0M vs $713.4M），过去两年邦吉的营收复合增速更高（11.3% vs 5.5%）
Arthur J. Gallagher & Co.（简称Gallagher）是总部位于美国伊利诺伊州芝加哥郊区罗林梅多斯的保险经纪及风险管理服务提供商，核心业务涵盖保险经纪、风险管理服务，还依托自有理赔师团队处理工伤赔偿、机动车保险理赔等相关业务，在全球保险服务领域拥有较高知名度。
邦吉（Bunge Global）是全球知名的农业与食品企业，注册地位于瑞士日内瓦，总部设在美国密苏里州圣路易斯市，业务覆盖农产品生产、加工、贸易及食品供应链服务等多个领域，在全球农业产业中拥有较高的市场地位。
AJG vs BG — 直观对比
营收规模更大
BG
是对方的1.3倍
$3.6B
营收增速更快
AJG
高出11.4%
22.2%
净利率更高
AJG
高出2.2%
1.9%
自由现金流更多
BG
多$95.6M
$713.4M
两年增速更快
BG
近两年复合增速
5.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.6B | $4.9B |
| 净利润 | $151.1M | $95.0M |
| 毛利率 | — | 20.7% |
| 营业利润率 | 5.0% | 1.8% |
| 净利率 | 4.2% | 1.9% |
| 营收同比 | 33.6% | 22.2% |
| 净利润同比 | -41.5% | -84.2% |
| 每股收益（稀释后） | $0.58 | $-0.02 |
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AJGBG
| Q4 25 | $3.6B | $4.9B | ||
| Q3 25 | $3.4B | $4.4B | ||
| Q2 25 | $3.2B | $4.0B | ||
| Q1 25 | $3.7B | $3.7B | ||
| Q4 24 | $2.7B | $4.0B | ||
| Q3 24 | $2.8B | $3.9B | ||
| Q2 24 | $2.8B | $3.7B | ||
| Q1 24 | $3.3B | $3.9B |
净利润AJGBG
| Q4 25 | $151.1M | $95.0M | ||
| Q3 25 | $272.7M | $166.0M | ||
| Q2 25 | $365.8M | $354.0M | ||
| Q1 25 | $704.4M | $201.0M | ||
| Q4 24 | $258.3M | $602.0M | ||
| Q3 24 | $312.6M | $221.0M | ||
| Q2 24 | $283.4M | $70.0M | ||
| Q1 24 | $608.4M | $244.0M |
毛利率AJGBG
| Q4 25 | — | 20.7% | ||
| Q3 25 | — | 24.3% | ||
| Q2 25 | — | 18.4% | ||
| Q1 25 | — | 16.3% | ||
| Q4 24 | — | 27.0% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 17.8% | ||
| Q1 24 | — | 22.2% |
营业利润率AJGBG
| Q4 25 | 5.0% | 1.8% | ||
| Q3 25 | 10.3% | 6.2% | ||
| Q2 25 | 14.6% | 12.3% | ||
| Q1 25 | 23.4% | 7.8% | ||
| Q4 24 | 12.3% | 18.3% | ||
| Q3 24 | 14.4% | 8.3% | ||
| Q2 24 | 13.2% | 2.8% | ||
| Q1 24 | 23.7% | 9.4% |
净利率AJGBG
| Q4 25 | 4.2% | 1.9% | ||
| Q3 25 | 8.1% | 3.8% | ||
| Q2 25 | 11.4% | 8.8% | ||
| Q1 25 | 18.9% | 5.5% | ||
| Q4 24 | 9.5% | 15.0% | ||
| Q3 24 | 11.1% | 5.7% | ||
| Q2 24 | 10.2% | 1.9% | ||
| Q1 24 | 18.7% | 6.2% |
每股收益（稀释后）AJGBG
| Q4 25 | $0.58 | $-0.02 | ||
| Q3 25 | $1.04 | $0.84 | ||
| Q2 25 | $1.40 | $2.61 | ||
| Q1 25 | $2.72 | $1.48 | ||
| Q4 24 | $1.10 | $4.27 | ||
| Q3 24 | $1.39 | $1.56 | ||
| Q2 24 | $1.27 | $0.48 | ||
| Q1 24 | $2.74 | $1.68 |
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 | — | $2.0B |
| 总债务越低越好 | $12.9B | $10.2B |
| 股东权益账面价值 | $23.3B | $15.9B |
| 总资产 | $70.7B | $44.5B |
| 负债/权益比越低杠杆越低 | 0.55× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资AJGBG
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $3.2B | ||
| Q2 25 | — | $7.1B | ||
| Q1 25 | — | $3.9B | ||
| Q4 24 | — | $3.8B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $3.1B |
总债务AJGBG
| Q4 25 | $12.9B | $10.2B | ||
| Q3 25 | — | $11.1B | ||
| Q2 25 | — | $7.7B | ||
| Q1 25 | — | $5.4B | ||
| Q4 24 | $23.0M | $5.4B | ||
| Q3 24 | — | $5.4B | ||
| Q2 24 | — | $4.1B | ||
| Q1 24 | — | $4.1B |
股东权益AJGBG
| Q4 25 | $23.3B | $15.9B | ||
| Q3 25 | $23.2B | $15.8B | ||
| Q2 25 | $23.0B | $10.9B | ||
| Q1 25 | $22.3B | $10.6B | ||
| Q4 24 | $20.2B | $9.9B | ||
| Q3 24 | $12.2B | $10.1B | ||
| Q2 24 | $11.6B | $10.0B | ||
| Q1 24 | $11.3B | $10.6B |
总资产AJGBG
| Q4 25 | $70.7B | $44.5B | ||
| Q3 25 | $79.1B | $46.3B | ||
| Q2 25 | $80.1B | $31.2B | ||
| Q1 25 | $74.1B | $26.7B | ||
| Q4 24 | $64.3B | $24.9B | ||
| Q3 24 | $57.2B | $25.3B | ||
| Q2 24 | $63.0B | $24.4B | ||
| Q1 24 | $61.0B | $25.8B |
负债/权益比AJGBG
| Q4 25 | 0.55× | 0.64× | ||
| Q3 25 | — | 0.71× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | 0.00× | 0.54× | ||
| Q3 24 | — | 0.54× | ||
| Q2 24 | — | 0.41× | ||
| Q1 24 | — | 0.39× |
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 | $753.0M | $1.3B |
| 自由现金流经营现金流 - 资本支出 | $713.4M | $809.0M |
| 自由现金流率自由现金流/营收 | 19.7% | 16.6% |
| 资本支出强度资本支出/营收 | 1.1% | 11.0% |
| 现金转化率经营现金流/净利润 | 4.98× | 14.18× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $-879.0M |
8季度趋势，按日历期对齐
经营现金流AJGBG
| Q4 25 | $753.0M | $1.3B | ||
| Q3 25 | $731.3M | $854.0M | ||
| Q2 25 | $-426.1M | $-1.1B | ||
| Q1 25 | $871.8M | $-285.0M | ||
| Q4 24 | $739.3M | $1.1B | ||
| Q3 24 | $934.8M | $1.3B | ||
| Q2 24 | $119.5M | $-1.5B | ||
| Q1 24 | $789.3M | $994.0M |
自由现金流AJGBG
| Q4 25 | $713.4M | $809.0M | ||
| Q3 25 | $693.5M | $385.0M | ||
| Q2 25 | $-465.5M | $-1.5B | ||
| Q1 25 | $843.6M | $-595.0M | ||
| Q4 24 | $695.7M | $564.0M | ||
| Q3 24 | $898.0M | $973.0M | ||
| Q2 24 | $87.7M | $-1.8B | ||
| Q1 24 | $759.6M | $758.0M |
自由现金流率AJGBG
| Q4 25 | 19.7% | 16.6% | ||
| Q3 25 | 20.6% | 8.8% | ||
| Q2 25 | -14.5% | -36.8% | ||
| Q1 25 | 22.6% | -16.2% | ||
| Q4 24 | 25.6% | 14.1% | ||
| Q3 24 | 32.0% | 25.1% | ||
| Q2 24 | 3.2% | -47.4% | ||
| Q1 24 | 23.3% | 19.2% |
资本支出强度AJGBG
| Q4 25 | 1.1% | 11.0% | ||
| Q3 25 | 1.1% | 10.7% | ||
| Q2 25 | 1.2% | 10.1% | ||
| Q1 25 | 0.8% | 8.5% | ||
| Q4 24 | 1.6% | 12.2% | ||
| Q3 24 | 1.3% | 9.1% | ||
| Q2 24 | 1.1% | 8.0% | ||
| Q1 24 | 0.9% | 6.0% |
现金转化率AJGBG
| Q4 25 | 4.98× | 14.18× | ||
| Q3 25 | 2.68× | 5.14× | ||
| Q2 25 | -1.16× | -3.03× | ||
| Q1 25 | 1.24× | -1.42× | ||
| Q4 24 | 2.86× | 1.75× | ||
| Q3 24 | 2.99× | 6.00× | ||
| Q2 24 | 0.42× | -21.06× | ||
| Q1 24 | 1.30× | 4.07× |
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
AJG
| Commissions | $2.1B | 57% |
| Broker Fees | $1.2B | 33% |
| Supplemental Revenue | $131.7M | 4% |
| Investment Performance | $121.8M | 3% |
| Contingent Revenue | $83.0M | 2% |
BG
| Other Oilseeds Processing And Refining | $4.6B | 95% |
| Other | $251.0M | 5% |
| Other Products | $3.0M | 0% |
