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AlTi Global, Inc.（ALTI）与Ares Management Corp（ARES）财务数据对比。点击上方公司名可切换其他公司
Ares Management Corp的季度营收约是AlTi Global, Inc.的17.4倍（$1.5B vs $86.6M）。Ares Management Corp净利率更高（3.6% vs -15.1%，领先18.7%）。AlTi Global, Inc.同比增速更快（87.0% vs 19.5%）。过去两年Ares Management Corp的营收复合增速更高（45.9% vs 30.6%）
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。
Ares Management Corp是一家全球知名的另类投资管理机构，业务覆盖信贷、私募股权及房地产三大投资领域。公司成立于1997年，在北美、欧洲、亚洲多地设有分支机构，为全球客户提供专业的另类资产管理服务。
ALTI vs ARES — 直观对比
营收规模更大
ARES
是对方的17.4倍
$86.6M
营收增速更快
ALTI
高出67.5%
19.5%
净利率更高
ARES
高出18.7%
-15.1%
两年增速更快
ARES
近两年复合增速
30.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $86.6M | $1.5B |
| 净利润 | $-13.1M | $54.2M |
| 毛利率 | — | — |
| 营业利润率 | -2.1% | 13.7% |
| 净利率 | -15.1% | 3.6% |
| 营收同比 | 87.0% | 19.5% |
| 净利润同比 | 75.6% | -69.4% |
| 每股收益（稀释后） | — | — |
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ALTIARES
| Q4 25 | $86.6M | $1.5B | ||
| Q3 25 | $57.2M | $1.7B | ||
| Q2 25 | $53.1M | $1.4B | ||
| Q1 25 | $58.0M | $1.1B | ||
| Q4 24 | $46.3M | $1.3B | ||
| Q3 24 | $51.8M | $1.1B | ||
| Q2 24 | $49.5M | $788.7M | ||
| Q1 24 | $50.8M | $707.4M |
净利润ALTIARES
| Q4 25 | $-13.1M | $54.2M | ||
| Q3 25 | $-84.1M | $288.9M | ||
| Q2 25 | $-24.4M | $137.1M | ||
| Q1 25 | $1.9M | $47.2M | ||
| Q4 24 | $-53.8M | $177.3M | ||
| Q3 24 | $-72.5M | $118.5M | ||
| Q2 24 | $-6.4M | $94.9M | ||
| Q1 24 | $29.7M | $73.0M |
营业利润率ALTIARES
| Q4 25 | -2.1% | 13.7% | ||
| Q3 25 | -49.8% | 39.3% | ||
| Q2 25 | -56.7% | 21.3% | ||
| Q1 25 | -23.3% | 13.0% | ||
| Q4 24 | -42.7% | 31.8% | ||
| Q3 24 | -18.4% | 29.0% | ||
| Q2 24 | -30.2% | 40.2% | ||
| Q1 24 | -28.9% | 32.7% |
净利率ALTIARES
| Q4 25 | -15.1% | 3.6% | ||
| Q3 25 | -147.0% | 17.4% | ||
| Q2 25 | -45.9% | 10.2% | ||
| Q1 25 | 3.3% | 4.3% | ||
| Q4 24 | -116.1% | 14.1% | ||
| Q3 24 | -140.0% | 10.5% | ||
| Q2 24 | -12.9% | 12.0% | ||
| Q1 24 | 58.4% | 10.3% |
每股收益（稀释后）ALTIARES
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-0.33 | — | ||
| Q1 25 | $-0.04 | — | ||
| Q4 24 | $-0.71 | — | ||
| Q3 24 | $-0.88 | — | ||
| Q2 24 | $-0.18 | — | ||
| Q1 24 | $0.18 | — |
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 | — |
| 股东权益账面价值 | $600.1M | $4.3B |
| 总资产 | $1.2B | $28.6B |
| 负债/权益比越低杠杆越低 | 0.00× | — |
8季度趋势，按日历期对齐
现金及短期投资ALTIARES
| 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ALTIARES
| Q4 25 | $883.0K | — | ||
| Q3 25 | $586.0K | — | ||
| Q2 25 | $673.0K | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | $128.4M | — | ||
| Q2 24 | $164.0M | — | ||
| Q1 24 | $183.7M | — |
股东权益ALTIARES
| Q4 25 | $600.1M | $4.3B | ||
| Q3 25 | $607.2M | $4.5B | ||
| Q2 25 | $685.4M | $4.4B | ||
| Q1 25 | $665.2M | $4.5B | ||
| Q4 24 | $658.4M | $3.5B | ||
| Q3 24 | $707.0M | $2.1B | ||
| Q2 24 | $540.2M | $2.0B | ||
| Q1 24 | $510.9M | $1.8B |
总资产ALTIARES
| Q4 25 | $1.2B | $28.6B | ||
| Q3 25 | $1.2B | $27.0B | ||
| Q2 25 | $1.2B | $27.3B | ||
| Q1 25 | $1.2B | $27.2B | ||
| Q4 24 | $1.3B | $24.9B | ||
| Q3 24 | $1.4B | $24.5B | ||
| Q2 24 | $1.3B | $24.2B | ||
| Q1 24 | $1.3B | $24.4B |
负债/权益比ALTIARES
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.18× | — | ||
| Q2 24 | 0.30× | — | ||
| Q1 24 | 0.36× | — |
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 | — | $-483.7M |
| 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 | — | -8.92× |
| 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ALTIARES
| Q4 25 | — | $-483.7M | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | $-19.9M | $415.7M | ||
| Q1 25 | $-30.2M | $2.0B | ||
| Q4 24 | $-56.0K | $807.6M | ||
| Q3 24 | $-4.9M | $841.3M | ||
| Q2 24 | $-30.2M | $432.2M | ||
| Q1 24 | $-15.5M | $710.0M |
自由现金流ALTIARES
| 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ALTIARES
| 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ALTIARES
| 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ALTIARES
| Q4 25 | — | -8.92× | ||
| Q3 25 | — | 4.64× | ||
| Q2 25 | — | 3.03× | ||
| Q1 25 | -15.80× | 42.28× | ||
| Q4 24 | — | 4.55× | ||
| Q3 24 | — | 7.10× | ||
| Q2 24 | — | 4.55× | ||
| Q1 24 | -0.52× | 9.72× |
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% |
ARES
| Management Service | $991.1M | 66% |
| Management Service Incentive | $206.7M | 14% |
| Carried Interest | $205.4M | 14% |
| Fee Related Performance Revenues | $113.3M | 8% |
