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AlTi Global, Inc.（ALTI）与阿波罗全球管理（APO）财务数据对比。点击上方公司名可切换其他公司
阿波罗全球管理的季度营收约是AlTi Global, Inc.的113.9倍（$9.9B vs $86.6M）。阿波罗全球管理净利率更高（6.9% vs -15.1%，领先22.1%）。AlTi Global, Inc.同比增速更快（87.0% vs 86.7%）。过去两年AlTi Global, Inc.的营收复合增速更高（30.6% vs 18.4%）
该公司原名Cristal Global，是全球第二大二氧化钛生产商，同时也是钛化学品的龙头供应商，由原国家二氧化钛有限公司与 Millennium Chemicals 合并组建而成，总部设于沙特阿拉伯吉达。该公司是全球第五大二氧化钛原料生产商Bemax的重要股东。
阿波罗全球管理是美国头部另类资产管理机构，截至2025年总资产管理规模达8400亿美元，业务涵盖3920亿美元的信贷类资产（含夹层资本、对冲基金、不良贷款、担保贷款凭证等）、990亿美元私募股权，以及462亿美元的地产、基建等实体资产，为全球客户提供专业资产管理服务。
ALTI vs APO — 直观对比
营收规模更大
APO
是对方的113.9倍
$86.6M
营收增速更快
ALTI
高出0.3%
86.7%
净利率更高
APO
高出22.1%
-15.1%
两年增速更快
ALTI
近两年复合增速
18.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $86.6M | $9.9B |
| 净利润 | $-13.1M | $684.0M |
| 毛利率 | — | — |
| 营业利润率 | -2.1% | 17.8% |
| 净利率 | -15.1% | 6.9% |
| 营收同比 | 87.0% | 86.7% |
| 净利润同比 | 75.6% | -54.0% |
| 每股收益（稀释后） | — | $1.09 |
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ALTIAPO
| Q4 25 | $86.6M | $9.9B | ||
| Q3 25 | $57.2M | $9.8B | ||
| Q2 25 | $53.1M | $6.8B | ||
| Q1 25 | $58.0M | $5.5B | ||
| Q4 24 | $46.3M | $5.3B | ||
| Q3 24 | $51.8M | $7.8B | ||
| Q2 24 | $49.5M | $6.0B | ||
| Q1 24 | $50.8M | $7.0B |
净利润ALTIAPO
| Q4 25 | $-13.1M | $684.0M | ||
| Q3 25 | $-84.1M | $1.7B | ||
| Q2 25 | $-24.4M | $630.0M | ||
| Q1 25 | $1.9M | $442.0M | ||
| Q4 24 | $-53.8M | $1.5B | ||
| Q3 24 | $-72.5M | $811.0M | ||
| Q2 24 | $-6.4M | $853.0M | ||
| Q1 24 | $29.7M | $1.4B |
营业利润率ALTIAPO
| Q4 25 | -2.1% | 17.8% | ||
| Q3 25 | -49.8% | 29.5% | ||
| Q2 25 | -56.7% | 12.4% | ||
| Q1 25 | -23.3% | 21.3% | ||
| Q4 24 | -42.7% | 32.6% | ||
| Q3 24 | -18.4% | 26.8% | ||
| Q2 24 | -30.2% | 23.9% | ||
| Q1 24 | -28.9% | 31.1% |
净利率ALTIAPO
| Q4 25 | -15.1% | 6.9% | ||
| Q3 25 | -147.0% | 17.7% | ||
| Q2 25 | -45.9% | 9.2% | ||
| Q1 25 | 3.3% | 8.0% | ||
| Q4 24 | -116.1% | 28.1% | ||
| Q3 24 | -140.0% | 10.4% | ||
| Q2 24 | -12.9% | 14.2% | ||
| Q1 24 | 58.4% | 20.3% |
每股收益（稀释后）ALTIAPO
| Q4 25 | — | $1.09 | ||
| Q3 25 | — | $2.78 | ||
| Q2 25 | $-0.33 | $0.99 | ||
| Q1 25 | $-0.04 | $0.68 | ||
| Q4 24 | $-0.71 | $2.41 | ||
| Q3 24 | $-0.88 | $1.29 | ||
| Q2 24 | $-0.18 | $1.35 | ||
| Q1 24 | $0.18 | $2.28 |
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 | $41.2M | — |
| 总债务越低越好 | $883.0K | $13.4B |
| 股东权益账面价值 | $600.1M | $23.3B |
| 总资产 | $1.2B | $460.9B |
| 负债/权益比越低杠杆越低 | 0.00× | 0.57× |
8季度趋势，按日历期对齐
现金及短期投资ALTIAPO
| Q4 25 | $41.2M | — | ||
| Q3 25 | $35.8M | — | ||
| Q2 25 | $42.4M | — | ||
| Q1 25 | $52.8M | — | ||
| Q4 24 | $64.4M | — | ||
| Q3 24 | $220.6M | — | ||
| Q2 24 | $60.0M | — | ||
| Q1 24 | $134.2M | — |
总债务ALTIAPO
| Q4 25 | $883.0K | $13.4B | ||
| Q3 25 | $586.0K | $12.6B | ||
| Q2 25 | $673.0K | $12.1B | ||
| Q1 25 | — | $10.6B | ||
| Q4 24 | $0 | $10.6B | ||
| Q3 24 | $128.4M | $9.8B | ||
| Q2 24 | $164.0M | $9.8B | ||
| Q1 24 | $183.7M | $9.6B |
股东权益ALTIAPO
| Q4 25 | $600.1M | $23.3B | ||
| Q3 25 | $607.2M | $23.1B | ||
| Q2 25 | $685.4M | $19.3B | ||
| Q1 25 | $665.2M | $18.0B | ||
| Q4 24 | $658.4M | $17.3B | ||
| Q3 24 | $707.0M | $17.9B | ||
| Q2 24 | $540.2M | $15.3B | ||
| Q1 24 | $510.9M | $14.8B |
总资产ALTIAPO
| Q4 25 | $1.2B | $460.9B | ||
| Q3 25 | $1.2B | $449.5B | ||
| Q2 25 | $1.2B | $419.6B | ||
| Q1 25 | $1.2B | $395.0B | ||
| Q4 24 | $1.3B | $377.9B | ||
| Q3 24 | $1.4B | $368.7B | ||
| Q2 24 | $1.3B | $346.5B | ||
| Q1 24 | $1.3B | $334.1B |
负债/权益比ALTIAPO
| Q4 25 | 0.00× | 0.57× | ||
| Q3 25 | 0.00× | 0.55× | ||
| Q2 25 | 0.00× | 0.63× | ||
| Q1 25 | — | 0.59× | ||
| Q4 24 | 0.00× | 0.61× | ||
| Q3 24 | 0.18× | 0.55× | ||
| Q2 24 | 0.30× | 0.64× | ||
| Q1 24 | 0.36× | 0.65× |
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 | — | $4.7B |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 0.0% | — |
| 现金转化率经营现金流/净利润 | — | 6.83× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ALTIAPO
| Q4 25 | — | $4.7B | ||
| Q3 25 | — | $303.0M | ||
| Q2 25 | $-19.9M | $1.3B | ||
| Q1 25 | $-30.2M | $1.0B | ||
| Q4 24 | $-56.0K | $-4.0M | ||
| Q3 24 | $-4.9M | $1.9B | ||
| Q2 24 | $-30.2M | $1.3B | ||
| Q1 24 | $-15.5M | $70.0M |
自由现金流ALTIAPO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-20.0M | — | ||
| Q1 25 | $-31.0M | — | ||
| Q4 24 | $-1.8M | — | ||
| Q3 24 | $-9.4M | — | ||
| Q2 24 | $-31.2M | — | ||
| Q1 24 | $-15.7M | — |
自由现金流率ALTIAPO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -37.6% | — | ||
| Q1 25 | -53.4% | — | ||
| Q4 24 | -4.0% | — | ||
| Q3 24 | -18.2% | — | ||
| Q2 24 | -63.2% | — | ||
| Q1 24 | -30.9% | — |
资本支出强度ALTIAPO
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 3.9% | — | ||
| Q3 24 | 8.7% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 0.4% | — |
现金转化率ALTIAPO
| Q4 25 | — | 6.83× | ||
| Q3 25 | — | 0.17× | ||
| Q2 25 | — | 2.00× | ||
| Q1 25 | -15.80× | 2.29× | ||
| Q4 24 | — | -0.00× | ||
| Q3 24 | — | 2.29× | ||
| Q2 24 | — | 1.56× | ||
| Q1 24 | -0.52× | 0.05× |
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
ALTI
| Management Advisory Fees | $51.1M | 59% |
| Other | $32.7M | 38% |
| Distributions From Investments | $2.9M | 3% |
APO
| Retirement Services Segment | $8.5B | 86% |
| Asset Management1 | $681.0M | 7% |
| Principal Investing Segment | $624.0M | 6% |
| Management Service Incentive | $96.0M | 1% |
