vs
AlTi Global, Inc.（ALTI）与凯雷集团（CG）财务数据对比。点击上方公司名可切换其他公司
凯雷集团的季度营收约是AlTi Global, Inc.的21.9倍（$1.9B vs $86.6M）。凯雷集团净利率更高（18.8% vs -15.1%，领先34.0%）。AlTi Global, Inc.同比增速更快（87.0% vs 84.1%）。过去两年凯雷集团的营收复合增速更高（66.2% 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。
凯雷集团是美国知名跨国企业，核心业务涵盖私募股权投资、另类资产管理及金融服务领域。截至2023年，公司管理资产总规模达4260亿美元，是全球另类资管行业的重要参与者。
ALTI vs CG — 直观对比
营收规模更大
CG
是对方的21.9倍
$86.6M
营收增速更快
ALTI
高出2.9%
84.1%
净利率更高
CG
高出34.0%
-15.1%
两年增速更快
CG
近两年复合增速
30.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $86.6M | $1.9B |
| 净利润 | $-13.1M | $358.1M |
| 毛利率 | — | — |
| 营业利润率 | -2.1% | 24.3% |
| 净利率 | -15.1% | 18.8% |
| 营收同比 | 87.0% | 84.1% |
| 净利润同比 | 75.6% | 69.8% |
| 每股收益（稀释后） | — | $0.96 |
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ALTICG
| Q4 25 | $86.6M | $1.9B | ||
| Q3 25 | $57.2M | $332.7M | ||
| Q2 25 | $53.1M | $1.6B | ||
| Q1 25 | $58.0M | $973.1M | ||
| Q4 24 | $46.3M | $1.0B | ||
| Q3 24 | $51.8M | $2.6B | ||
| Q2 24 | $49.5M | $1.1B | ||
| Q1 24 | $50.8M | $688.4M |
净利润ALTICG
| Q4 25 | $-13.1M | $358.1M | ||
| Q3 25 | $-84.1M | $900.0K | ||
| Q2 25 | $-24.4M | $319.7M | ||
| Q1 25 | $1.9M | $130.0M | ||
| Q4 24 | $-53.8M | $210.9M | ||
| Q3 24 | $-72.5M | $595.7M | ||
| Q2 24 | $-6.4M | $148.2M | ||
| Q1 24 | $29.7M | $65.6M |
营业利润率ALTICG
| Q4 25 | -2.1% | 24.3% | ||
| Q3 25 | -49.8% | 25.8% | ||
| Q2 25 | -56.7% | 28.0% | ||
| Q1 25 | -23.3% | 17.6% | ||
| Q4 24 | -42.7% | 25.7% | ||
| Q3 24 | -18.4% | 29.9% | ||
| Q2 24 | -30.2% | 20.5% | ||
| Q1 24 | -28.9% | 17.5% |
净利率ALTICG
| Q4 25 | -15.1% | 18.8% | ||
| Q3 25 | -147.0% | 0.3% | ||
| Q2 25 | -45.9% | 20.3% | ||
| Q1 25 | 3.3% | 13.4% | ||
| Q4 24 | -116.1% | 20.4% | ||
| Q3 24 | -140.0% | 22.6% | ||
| Q2 24 | -12.9% | 13.9% | ||
| Q1 24 | 58.4% | 9.5% |
每股收益（稀释后）ALTICG
| Q4 25 | — | $0.96 | ||
| Q3 25 | — | $0.00 | ||
| Q2 25 | $-0.33 | $0.87 | ||
| Q1 25 | $-0.04 | $0.35 | ||
| Q4 24 | $-0.71 | $0.56 | ||
| Q3 24 | $-0.88 | $1.63 | ||
| Q2 24 | $-0.18 | $0.40 | ||
| Q1 24 | $0.18 | $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 | $2.0B |
| 总债务越低越好 | $883.0K | — |
| 股东权益账面价值 | $600.1M | $7.1B |
| 总资产 | $1.2B | $29.1B |
| 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ALTICG
| Q4 25 | $41.2M | $2.0B | ||
| Q3 25 | $35.8M | $2.2B | ||
| Q2 25 | $42.4M | $1.3B | ||
| Q1 25 | $52.8M | $1.2B | ||
| Q4 24 | $64.4M | $1.3B | ||
| Q3 24 | $220.6M | $1.4B | ||
| Q2 24 | $60.0M | $914.8M | ||
| Q1 24 | $134.2M | $1.3B |
总债务ALTICG
| 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ALTICG
| Q4 25 | $600.1M | $7.1B | ||
| Q3 25 | $607.2M | $6.8B | ||
| Q2 25 | $685.4M | $6.7B | ||
| Q1 25 | $665.2M | $6.4B | ||
| Q4 24 | $658.4M | $6.3B | ||
| Q3 24 | $707.0M | $6.3B | ||
| Q2 24 | $540.2M | $5.7B | ||
| Q1 24 | $510.9M | $5.7B |
总资产ALTICG
| Q4 25 | $1.2B | $29.1B | ||
| Q3 25 | $1.2B | $27.1B | ||
| Q2 25 | $1.2B | $25.1B | ||
| Q1 25 | $1.2B | $24.1B | ||
| Q4 24 | $1.3B | $23.1B | ||
| Q3 24 | $1.4B | $22.7B | ||
| Q2 24 | $1.3B | $22.3B | ||
| Q1 24 | $1.3B | $20.8B |
负债/权益比ALTICG
| 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 | — | $-1.2B |
| 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 | — | -65.1% |
| 资本支出强度资本支出/营收 | 0.0% | 2.2% |
| 现金转化率经营现金流/净利润 | — | -3.34× |
| 过去12个月自由现金流最近4个季度 | — | $-3.4B |
8季度趋势，按日历期对齐
经营现金流ALTICG
| Q4 25 | — | $-1.2B | ||
| Q3 25 | — | $-1.6B | ||
| Q2 25 | $-19.9M | $-168.8M | ||
| Q1 25 | $-30.2M | $-352.1M | ||
| Q4 24 | $-56.0K | $-352.8M | ||
| Q3 24 | $-4.9M | $791.9M | ||
| Q2 24 | $-30.2M | $-1.3B | ||
| Q1 24 | $-15.5M | $71.1M |
自由现金流ALTICG
| Q4 25 | — | $-1.2B | ||
| Q3 25 | — | $-1.6B | ||
| Q2 25 | $-20.0M | $-186.3M | ||
| Q1 25 | $-31.0M | $-368.8M | ||
| Q4 24 | $-1.8M | $-379.5M | ||
| Q3 24 | $-9.4M | $772.8M | ||
| Q2 24 | $-31.2M | $-1.3B | ||
| Q1 24 | $-15.7M | $56.9M |
自由现金流率ALTICG
| Q4 25 | — | -65.1% | ||
| Q3 25 | — | -475.7% | ||
| Q2 25 | -37.6% | -11.8% | ||
| Q1 25 | -53.4% | -37.9% | ||
| Q4 24 | -4.0% | -36.8% | ||
| Q3 24 | -18.2% | 29.3% | ||
| Q2 24 | -63.2% | -120.4% | ||
| Q1 24 | -30.9% | 8.3% |
资本支出强度ALTICG
| Q4 25 | 0.0% | 2.2% | ||
| Q3 25 | 0.0% | 7.0% | ||
| Q2 25 | 0.0% | 1.1% | ||
| Q1 25 | 1.3% | 1.7% | ||
| Q4 24 | 3.9% | 2.6% | ||
| Q3 24 | 8.7% | 0.7% | ||
| Q2 24 | 2.2% | 1.7% | ||
| Q1 24 | 0.4% | 2.1% |
现金转化率ALTICG
| Q4 25 | — | -3.34× | ||
| Q3 25 | — | -1732.78× | ||
| Q2 25 | — | -0.53× | ||
| Q1 25 | -15.80× | -2.71× | ||
| Q4 24 | — | -1.67× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | — | -8.57× | ||
| Q1 24 | -0.52× | 1.08× |
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% |
CG
| Fund Management Fee | $606.8M | 32% |
| Other | $528.7M | 28% |
| Global Private Equity Segment | $307.3M | 16% |
| Global Credit Segment | $238.0M | 13% |
| Carlyle Alp Invest Segment | $124.6M | 7% |
| Incentive Fee | $55.4M | 3% |
| Fee Related Performance Revenues | $29.2M | 2% |
| Investment Advice | $11.1M | 1% |
