vs
怡安集团（AON）与Equitable Holdings, Inc.（EQH）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Equitable Holdings, Inc.的1.3倍（$4.3B vs $3.3B）。怡安集团净利率更高（39.4% vs 6.6%，领先32.8%）。怡安集团同比增速更快（3.7% vs -9.5%）。过去两年Equitable Holdings, Inc.的营收复合增速更高（21.2% 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。
Equitable Holdings, Inc.是美国领先的金融服务与保险企业，1859年由亨利·鲍德温·海德创立，业务覆盖保险、财富管理等多元金融领域，拥有逾百年发展历史，在全球金融服务市场具备深厚的行业积淀与广泛的客户基础。
AON vs EQH — 直观对比
营收规模更大
AON
是对方的1.3倍
$3.3B
营收增速更快
AON
高出13.2%
-9.5%
净利率更高
AON
高出32.8%
6.6%
两年增速更快
EQH
近两年复合增速
2.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $3.3B |
| 净利润 | $1.7B | $215.0M |
| 毛利率 | — | — |
| 营业利润率 | 28.1% | 10.5% |
| 净利率 | 39.4% | 6.6% |
| 营收同比 | 3.7% | -9.5% |
| 净利润同比 | 136.5% | -76.1% |
| 每股收益（稀释后） | $7.82 | $0.69 |
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AONEQH
| Q4 25 | $4.3B | $3.3B | ||
| Q3 25 | $4.0B | $1.4B | ||
| Q2 25 | $4.2B | $2.4B | ||
| Q1 25 | $4.7B | $4.6B | ||
| Q4 24 | $4.1B | $3.6B | ||
| Q3 24 | $3.7B | $3.1B | ||
| Q2 24 | $3.8B | $3.5B | ||
| Q1 24 | $4.1B | $2.2B |
净利润AONEQH
| Q4 25 | $1.7B | $215.0M | ||
| Q3 25 | $458.0M | $-1.3B | ||
| Q2 25 | $579.0M | $-349.0M | ||
| Q1 25 | $965.0M | $63.0M | ||
| Q4 24 | $716.0M | $899.0M | ||
| Q3 24 | $343.0M | $-134.0M | ||
| Q2 24 | $524.0M | $428.0M | ||
| Q1 24 | $1.1B | $114.0M |
营业利润率AONEQH
| Q4 25 | 28.1% | 10.5% | ||
| Q3 25 | 20.4% | -93.0% | ||
| Q2 25 | 20.7% | -15.4% | ||
| Q1 25 | 30.9% | 3.8% | ||
| Q4 24 | 26.3% | 33.1% | ||
| Q3 24 | 16.7% | -0.5% | ||
| Q2 24 | 17.4% | 19.4% | ||
| Q1 24 | 36.0% | 11.1% |
净利率AONEQH
| Q4 25 | 39.4% | 6.6% | ||
| Q3 25 | 11.5% | -90.3% | ||
| Q2 25 | 13.9% | -14.8% | ||
| Q1 25 | 20.4% | 1.4% | ||
| Q4 24 | 17.3% | 24.8% | ||
| Q3 24 | 9.2% | -4.4% | ||
| Q2 24 | 13.9% | 12.2% | ||
| Q1 24 | 26.3% | 5.1% |
每股收益（稀释后）AONEQH
| Q4 25 | $7.82 | $0.69 | ||
| Q3 25 | $2.11 | $-4.47 | ||
| Q2 25 | $2.66 | $-1.21 | ||
| Q1 25 | $4.43 | $0.16 | ||
| Q4 24 | $3.11 | $2.72 | ||
| Q3 24 | $1.57 | $-0.47 | ||
| Q2 24 | $2.46 | $1.23 | ||
| Q1 24 | $5.35 | $0.30 |
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 | $12.5B |
| 总债务越低越好 | $15.2B | — |
| 股东权益账面价值 | $9.4B | $-74.0M |
| 总资产 | $50.8B | $318.0B |
| 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AONEQH
| Q4 25 | $2.8B | $12.5B | ||
| Q3 25 | $1.3B | $13.6B | ||
| Q2 25 | $1.4B | $15.0B | ||
| Q1 25 | $1.3B | $8.2B | ||
| Q4 24 | $1.3B | $7.0B | ||
| Q3 24 | $1.3B | $9.6B | ||
| Q2 24 | $1.2B | $9.7B | ||
| Q1 24 | $6.4B | $10.4B |
总债务AONEQH
| Q4 25 | $15.2B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $17.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AONEQH
| Q4 25 | $9.4B | $-74.0M | ||
| Q3 25 | $7.9B | $148.0M | ||
| Q2 25 | $7.8B | $1.1B | ||
| Q1 25 | $7.0B | $2.4B | ||
| Q4 24 | $6.1B | $1.6B | ||
| Q3 24 | $6.2B | $3.2B | ||
| Q2 24 | $5.9B | $1.6B | ||
| Q1 24 | $-133.0M | $2.0B |
总资产AONEQH
| Q4 25 | $50.8B | $318.0B | ||
| Q3 25 | $51.6B | $314.4B | ||
| Q2 25 | $54.0B | $303.1B | ||
| Q1 25 | $50.3B | $287.4B | ||
| Q4 24 | $49.0B | $295.9B | ||
| Q3 24 | $49.9B | $299.0B | ||
| Q2 24 | $51.5B | $287.8B | ||
| Q1 24 | $40.8B | $285.6B |
负债/权益比AONEQH
| 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 | $-154.0M |
| 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× | -0.72× |
| 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AONEQH
| Q4 25 | $1.4B | $-154.0M | ||
| Q3 25 | $1.1B | $369.0M | ||
| Q2 25 | $796.0M | $341.0M | ||
| Q1 25 | $140.0M | $158.0M | ||
| Q4 24 | $1.2B | $400.0M | ||
| Q3 24 | $1.0B | $683.0M | ||
| Q2 24 | $513.0M | $892.0M | ||
| Q1 24 | $309.0M | $31.0M |
自由现金流AONEQH
| 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AONEQH
| 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AONEQH
| 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AONEQH
| Q4 25 | 0.83× | -0.72× | ||
| Q3 25 | 2.51× | — | ||
| Q2 25 | 1.37× | — | ||
| Q1 25 | 0.15× | 2.51× | ||
| Q4 24 | 1.68× | 0.44× | ||
| Q3 24 | 2.95× | — | ||
| Q2 24 | 0.98× | 2.08× | ||
| Q1 24 | 0.29× | 0.27× |
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% |
EQH
| Other | $1.5B | 46% |
| Asset Management | $1.2B | 37% |
| Wealth Management | $545.0M | 17% |
