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怡安集团（AON）与Cipher Mining Inc.（CIFR）财务数据对比。点击上方公司名可切换其他公司
怡安集团的季度营收约是Cipher Mining Inc.的72.0倍（$4.3B vs $59.7M），怡安集团净利率更高（39.4% vs -1229.6%，领先1269.0%），Cipher Mining Inc.同比增速更快（41.4% vs 3.7%），怡安集团自由现金流更多（$1.3B vs $-695.9M），过去两年Cipher Mining Inc.的营收复合增速更高（11.4% vs 2.8%）
怡安集团（Aon plc）是一家英美背景的专业服务企业，下设两大业务板块：风险资本板块提供风险管理、保险及再保险领域的经纪与咨询服务；人力资本板块提供健康保险、退休及养老金计划、人才咨询等相关服务。
Cipher Mining Inc.是总部位于美国的比特币挖矿生态运营企业，当前正全力发展加密货币相关业务，深耕加密行业上游基础设施赛道，依托技术及合规优势构建稳定高效的挖矿服务体系。
AON vs CIFR — 直观对比
营收规模更大
AON
是对方的72.0倍
$59.7M
营收增速更快
CIFR
高出37.7%
3.7%
净利率更高
AON
高出1269.0%
-1229.6%
自由现金流更多
AON
多$2.0B
$-695.9M
两年增速更快
CIFR
近两年复合增速
2.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $59.7M |
| 净利润 | $1.7B | $-734.2M |
| 毛利率 | — | 59.4% |
| 营业利润率 | 28.1% | -503.4% |
| 净利率 | 39.4% | -1229.6% |
| 营收同比 | 3.7% | 41.4% |
| 净利润同比 | 136.5% | -4293.1% |
| 每股收益（稀释后） | $7.82 | $-1.91 |
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AONCIFR
| Q4 25 | $4.3B | $59.7M | ||
| Q3 25 | $4.0B | $71.7M | ||
| Q2 25 | $4.2B | $43.6M | ||
| Q1 25 | $4.7B | $49.0M | ||
| Q4 24 | $4.1B | $42.2M | ||
| Q3 24 | $3.7B | $24.1M | ||
| Q2 24 | $3.8B | $36.8M | ||
| Q1 24 | $4.1B | $48.1M |
净利润AONCIFR
| Q4 25 | $1.7B | $-734.2M | ||
| Q3 25 | $458.0M | $-3.3M | ||
| Q2 25 | $579.0M | $-45.8M | ||
| Q1 25 | $965.0M | $-39.0M | ||
| Q4 24 | $716.0M | $17.5M | ||
| Q3 24 | $343.0M | $-86.8M | ||
| Q2 24 | $524.0M | $-15.3M | ||
| Q1 24 | $1.1B | $39.9M |
毛利率AONCIFR
| Q4 25 | — | 59.4% | ||
| Q3 25 | — | 62.7% | ||
| Q2 25 | — | 64.8% | ||
| Q1 25 | — | 69.6% | ||
| Q4 24 | — | 56.9% | ||
| Q3 24 | — | 37.5% | ||
| Q2 24 | — | 61.2% | ||
| Q1 24 | — | 69.2% |
营业利润率AONCIFR
| Q4 25 | 28.1% | -503.4% | ||
| Q3 25 | 20.4% | -52.5% | ||
| Q2 25 | 20.7% | -103.9% | ||
| Q1 25 | 30.9% | -77.8% | ||
| Q4 24 | 26.3% | 40.5% | ||
| Q3 24 | 16.7% | -379.2% | ||
| Q2 24 | 17.4% | -43.9% | ||
| Q1 24 | 36.0% | 97.2% |
净利率AONCIFR
| Q4 25 | 39.4% | -1229.6% | ||
| Q3 25 | 11.5% | -4.6% | ||
| Q2 25 | 13.9% | -105.1% | ||
| Q1 25 | 20.4% | -79.6% | ||
| Q4 24 | 17.3% | 41.5% | ||
| Q3 24 | 9.2% | -359.9% | ||
| Q2 24 | 13.9% | -41.5% | ||
| Q1 24 | 26.3% | 82.9% |
每股收益（稀释后）AONCIFR
| Q4 25 | $7.82 | $-1.91 | ||
| Q3 25 | $2.11 | $-0.01 | ||
| Q2 25 | $2.66 | $-0.12 | ||
| Q1 25 | $4.43 | $-0.11 | ||
| Q4 24 | $3.11 | $0.04 | ||
| Q3 24 | $1.57 | $-0.26 | ||
| Q2 24 | $2.46 | $-0.05 | ||
| Q1 24 | $5.35 | $0.13 |
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 | $2.8B | $628.3M |
| 总债务越低越好 | $15.2B | $2.7B |
| 股东权益账面价值 | $9.4B | $805.5M |
| 总资产 | $50.8B | $4.3B |
| 负债/权益比越低杠杆越低 | 1.63× | 3.37× |
8季度趋势，按日历期对齐
现金及短期投资AONCIFR
| Q4 25 | $2.8B | $628.3M | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.4B | $62.7M | ||
| Q1 25 | $1.3B | $23.2M | ||
| Q4 24 | $1.3B | $5.6M | ||
| Q3 24 | $1.3B | $25.3M | ||
| Q2 24 | $1.2B | $122.6M | ||
| Q1 24 | $6.4B | $88.7M |
总债务AONCIFR
| Q4 25 | $15.2B | $2.7B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $167.1M | ||
| Q1 25 | — | — | ||
| Q4 24 | $17.0B | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AONCIFR
| Q4 25 | $9.4B | $805.5M | ||
| Q3 25 | $7.9B | $783.2M | ||
| Q2 25 | $7.8B | $748.9M | ||
| Q1 25 | $7.0B | $734.8M | ||
| Q4 24 | $6.1B | $682.0M | ||
| Q3 24 | $6.2B | $672.0M | ||
| Q2 24 | $5.9B | $690.8M | ||
| Q1 24 | $-133.0M | $600.9M |
总资产AONCIFR
| Q4 25 | $50.8B | $4.3B | ||
| Q3 25 | $51.6B | $2.8B | ||
| Q2 25 | $54.0B | $1.0B | ||
| Q1 25 | $50.3B | $913.8M | ||
| Q4 24 | $49.0B | $855.4M | ||
| Q3 24 | $49.9B | $775.4M | ||
| Q2 24 | $51.5B | $775.6M | ||
| Q1 24 | $40.8B | $677.1M |
负债/权益比AONCIFR
| Q4 25 | 1.63× | 3.37× | ||
| Q3 25 | — | 1.31× | ||
| Q2 25 | — | 0.22× | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.78× | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $1.4B | $-207.9M |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $-695.9M |
| 自由现金流率自由现金流/营收 | 30.8% | -1165.4% |
| 资本支出强度资本支出/营收 | 1.7% | 817.1% |
| 现金转化率经营现金流/净利润 | 0.83× | — |
| 过去12个月自由现金流最近4个季度 | $3.2B | $-1.1B |
8季度趋势，按日历期对齐
经营现金流AONCIFR
| Q4 25 | $1.4B | $-207.9M | ||
| Q3 25 | $1.1B | $-50.1M | ||
| Q2 25 | $796.0M | $-56.2M | ||
| Q1 25 | $140.0M | $-47.2M | ||
| Q4 24 | $1.2B | $-87.5M | ||
| Q3 24 | $1.0B | $-6.5M | ||
| Q2 24 | $513.0M | $-25.4M | ||
| Q1 24 | $309.0M | $-26.6M |
自由现金流AONCIFR
| Q4 25 | $1.3B | $-695.9M | ||
| Q3 25 | $1.1B | $-256.2M | ||
| Q2 25 | $732.0M | $-87.5M | ||
| Q1 25 | $84.0M | $-71.8M | ||
| Q4 24 | $1.1B | $-227.0M | ||
| Q3 24 | $951.0M | $-83.2M | ||
| Q2 24 | $460.0M | $-33.2M | ||
| Q1 24 | $261.0M | $-34.5M |
自由现金流率AONCIFR
| Q4 25 | 30.8% | -1165.4% | ||
| Q3 25 | 27.0% | -357.3% | ||
| Q2 25 | 17.6% | -200.9% | ||
| Q1 25 | 1.8% | -146.7% | ||
| Q4 24 | 27.6% | -537.6% | ||
| Q3 24 | 25.6% | -345.0% | ||
| Q2 24 | 12.2% | -90.2% | ||
| Q1 24 | 6.4% | -71.7% |
资本支出强度AONCIFR
| Q4 25 | 1.7% | 817.1% | ||
| Q3 25 | 1.7% | 287.5% | ||
| Q2 25 | 1.5% | 71.8% | ||
| Q1 25 | 1.2% | 50.2% | ||
| Q4 24 | 1.3% | 330.4% | ||
| Q3 24 | 1.7% | 317.8% | ||
| Q2 24 | 1.4% | 21.4% | ||
| Q1 24 | 1.2% | 16.4% |
现金转化率AONCIFR
| Q4 25 | 0.83× | — | ||
| Q3 25 | 2.51× | — | ||
| Q2 25 | 1.37× | — | ||
| Q1 25 | 0.15× | — | ||
| Q4 24 | 1.68× | -5.00× | ||
| Q3 24 | 2.95× | — | ||
| Q2 24 | 0.98× | — | ||
| Q1 24 | 0.29× | -0.67× |
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
AON
| Commercial Risk Solutions | $2.3B | 54% |
| Health Solutions | $1.1B | 26% |
| Wealth Solutions | $490.0M | 11% |
| Reinsurance Solutions | $379.0M | 9% |
CIFR
暂无分部数据
