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怡安集团（AON）与CNO Financial Group, Inc.（CNO）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CNO Financial Group, Inc.的3.8倍（$4.3B vs $1.1B）。怡安集团净利率更高（39.4% vs 8.8%，领先30.6%）。CNO Financial Group, Inc.同比增速更快（4.2% vs 3.7%）。过去两年怡安集团的营收复合增速更高（2.8% vs -0.6%）
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。
CNO金融集团是总部位于美国印第安纳州卡梅尔的金融服务控股公司，前身为康塞科公司。集团旗下保险子公司为美国超400万客户提供人寿保险、年金和补充健康保险产品，通过独立代理人、专属代理人，以及电视广告、直邮等直销触达用户。
AON vs CNO — 直观对比
营收规模更大
AON
是对方的3.8倍
$1.1B
营收增速更快
CNO
高出0.5%
3.7%
净利率更高
AON
高出30.6%
8.8%
两年增速更快
AON
近两年复合增速
-0.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $1.1B |
| 净利润 | $1.7B | $100.7M |
| 毛利率 | — | — |
| 营业利润率 | 28.1% | 15.2% |
| 净利率 | 39.4% | 8.8% |
| 营收同比 | 3.7% | 4.2% |
| 净利润同比 | 136.5% | -39.4% |
| 每股收益（稀释后） | $7.82 | $1.02 |
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AONCNO
| Q4 25 | $4.3B | $1.1B | ||
| Q3 25 | $4.0B | $1.2B | ||
| Q2 25 | $4.2B | $1.2B | ||
| Q1 25 | $4.7B | $1.0B | ||
| Q4 24 | $4.1B | $1.1B | ||
| Q3 24 | $3.7B | $1.1B | ||
| Q2 24 | $3.8B | $1.1B | ||
| Q1 24 | $4.1B | $1.2B |
净利润AONCNO
| Q4 25 | $1.7B | $100.7M | ||
| Q3 25 | $458.0M | $23.1M | ||
| Q2 25 | $579.0M | $91.8M | ||
| Q1 25 | $965.0M | $13.7M | ||
| Q4 24 | $716.0M | $166.1M | ||
| Q3 24 | $343.0M | $9.3M | ||
| Q2 24 | $524.0M | $116.3M | ||
| Q1 24 | $1.1B | $112.3M |
营业利润率AONCNO
| Q4 25 | 28.1% | 15.2% | ||
| Q3 25 | 20.4% | 13.7% | ||
| Q2 25 | 20.7% | 9.8% | ||
| Q1 25 | 30.9% | 10.4% | ||
| Q4 24 | 26.3% | 15.8% | ||
| Q3 24 | 16.7% | 13.6% | ||
| Q2 24 | 17.4% | 13.9% | ||
| Q1 24 | 36.0% | 6.5% |
净利率AONCNO
| Q4 25 | 39.4% | 8.8% | ||
| Q3 25 | 11.5% | 1.9% | ||
| Q2 25 | 13.9% | 8.0% | ||
| Q1 25 | 20.4% | 1.4% | ||
| Q4 24 | 17.3% | 15.1% | ||
| Q3 24 | 9.2% | 0.8% | ||
| Q2 24 | 13.9% | 10.9% | ||
| Q1 24 | 26.3% | 9.7% |
每股收益（稀释后）AONCNO
| Q4 25 | $7.82 | $1.02 | ||
| Q3 25 | $2.11 | $0.24 | ||
| Q2 25 | $2.66 | $0.91 | ||
| Q1 25 | $4.43 | $0.13 | ||
| Q4 24 | $3.11 | $1.58 | ||
| Q3 24 | $1.57 | $0.09 | ||
| Q2 24 | $2.46 | $1.06 | ||
| Q1 24 | $5.35 | $1.01 |
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 | — |
| 总债务越低越好 | $15.2B | — |
| 股东权益账面价值 | $9.4B | $2.6B |
| 总资产 | $50.8B | $38.8B |
| 负债/权益比越低杠杆越低 | 1.63× | — |
8季度趋势，按日历期对齐
现金及短期投资AONCNO
| Q4 25 | $2.8B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $6.4B | — |
总债务AONCNO
| Q4 25 | $15.2B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $17.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AONCNO
| Q4 25 | $9.4B | $2.6B | ||
| Q3 25 | $7.9B | $2.6B | ||
| Q2 25 | $7.8B | $2.5B | ||
| Q1 25 | $7.0B | $2.5B | ||
| Q4 24 | $6.1B | $2.5B | ||
| Q3 24 | $6.2B | $2.7B | ||
| Q2 24 | $5.9B | $2.4B | ||
| Q1 24 | $-133.0M | $2.4B |
总资产AONCNO
| Q4 25 | $50.8B | $38.8B | ||
| Q3 25 | $51.6B | $38.3B | ||
| Q2 25 | $54.0B | $37.3B | ||
| Q1 25 | $50.3B | $37.4B | ||
| Q4 24 | $49.0B | $37.9B | ||
| Q3 24 | $49.9B | $37.6B | ||
| Q2 24 | $51.5B | $36.3B | ||
| Q1 24 | $40.8B | $34.9B |
负债/权益比AONCNO
| Q4 25 | 1.63× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.78× | — | ||
| 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 | $195.7M |
| 自由现金流经营现金流 - 资本支出 | $1.3B | — |
| 自由现金流率自由现金流/营收 | 30.8% | — |
| 资本支出强度资本支出/营收 | 1.7% | — |
| 现金转化率经营现金流/净利润 | 0.83× | 1.94× |
| 过去12个月自由现金流最近4个季度 | $3.2B | — |
8季度趋势，按日历期对齐
经营现金流AONCNO
| Q4 25 | $1.4B | $195.7M | ||
| Q3 25 | $1.1B | $197.8M | ||
| Q2 25 | $796.0M | $145.5M | ||
| Q1 25 | $140.0M | $136.7M | ||
| Q4 24 | $1.2B | $191.0M | ||
| Q3 24 | $1.0B | $231.2M | ||
| Q2 24 | $513.0M | $110.9M | ||
| Q1 24 | $309.0M | $94.6M |
自由现金流AONCNO
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $732.0M | — | ||
| Q1 25 | $84.0M | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $951.0M | — | ||
| Q2 24 | $460.0M | — | ||
| Q1 24 | $261.0M | — |
自由现金流率AONCNO
| Q4 25 | 30.8% | — | ||
| Q3 25 | 27.0% | — | ||
| Q2 25 | 17.6% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 27.6% | — | ||
| Q3 24 | 25.6% | — | ||
| Q2 24 | 12.2% | — | ||
| Q1 24 | 6.4% | — |
资本支出强度AONCNO
| Q4 25 | 1.7% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 1.2% | — |
现金转化率AONCNO
| Q4 25 | 0.83× | 1.94× | ||
| Q3 25 | 2.51× | 8.56× | ||
| Q2 25 | 1.37× | 1.58× | ||
| Q1 25 | 0.15× | 9.98× | ||
| Q4 24 | 1.68× | 1.15× | ||
| Q3 24 | 2.95× | 24.86× | ||
| Q2 24 | 0.98× | 0.95× | ||
| Q1 24 | 0.29× | 0.84× |
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% |
CNO
| Health Insurance Product Line | $496.4M | 43% |
| Life Insurance Segment | $268.8M | 24% |
| Other | $207.2M | 18% |
| Life And Annuity Insurance Product Line | $170.7M | 15% |
