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怡安集团（AON）与福陆（FLR）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福陆的1.0倍（$4.3B vs $4.2B），怡安集团净利率更高（39.4% vs -37.7%，领先77.0%），怡安集团同比增速更快（3.7% vs -2.0%），怡安集团自由现金流更多（$1.3B vs $-378.0M），过去两年福陆的营收复合增速更高（5.7% 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。
福陆是总部位于美国得克萨斯州欧文市的工程建设企业，通过旗下子公司提供油气、工业与基础设施、政府项目及电力三大核心领域的服务，是《财富》世界500强中排名最高的上市工程建设企业，总排名位列第265位。
AON vs FLR — 直观对比
营收规模更大
AON
是对方的1.0倍
$4.2B
营收增速更快
AON
高出5.7%
-2.0%
净利率更高
AON
高出77.0%
-37.7%
自由现金流更多
AON
多$1.7B
$-378.0M
两年增速更快
FLR
近两年复合增速
2.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $4.2B |
| 净利润 | $1.7B | $-1.6B |
| 毛利率 | — | 3.2% |
| 营业利润率 | 28.1% | 1.3% |
| 净利率 | 39.4% | -37.7% |
| 营收同比 | 3.7% | -2.0% |
| 净利润同比 | 136.5% | -184.4% |
| 每股收益（稀释后） | $7.82 | $-9.40 |
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AONFLR
| Q4 25 | $4.3B | $4.2B | ||
| Q3 25 | $4.0B | $3.4B | ||
| Q2 25 | $4.2B | $4.0B | ||
| Q1 25 | $4.7B | $4.0B | ||
| Q4 24 | $4.1B | $4.3B | ||
| Q3 24 | $3.7B | $4.1B | ||
| Q2 24 | $3.8B | $4.2B | ||
| Q1 24 | $4.1B | $3.7B |
净利润AONFLR
| Q4 25 | $1.7B | $-1.6B | ||
| Q3 25 | $458.0M | $-697.0M | ||
| Q2 25 | $579.0M | $2.5B | ||
| Q1 25 | $965.0M | $-241.0M | ||
| Q4 24 | $716.0M | $1.9B | ||
| Q3 24 | $343.0M | $54.0M | ||
| Q2 24 | $524.0M | $169.0M | ||
| Q1 24 | $1.1B | $59.0M |
毛利率AONFLR
| Q4 25 | — | 3.2% | ||
| Q3 25 | — | -13.3% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 3.5% | ||
| Q4 24 | — | 4.9% | ||
| Q3 24 | — | 2.1% | ||
| Q2 24 | — | 4.2% | ||
| Q1 24 | — | 2.7% |
营业利润率AONFLR
| Q4 25 | 28.1% | 1.3% | ||
| Q3 25 | 20.4% | -14.7% | ||
| Q2 25 | 20.7% | -0.7% | ||
| Q1 25 | 30.9% | 2.3% | ||
| Q4 24 | 26.3% | 4.4% | ||
| Q3 24 | 16.7% | 1.2% | ||
| Q2 24 | 17.4% | 4.2% | ||
| Q1 24 | 36.0% | 1.4% |
净利率AONFLR
| Q4 25 | 39.4% | -37.7% | ||
| Q3 25 | 11.5% | -20.7% | ||
| Q2 25 | 13.9% | 61.8% | ||
| Q1 25 | 20.4% | -6.1% | ||
| Q4 24 | 17.3% | 43.7% | ||
| Q3 24 | 9.2% | 1.3% | ||
| Q2 24 | 13.9% | 4.0% | ||
| Q1 24 | 26.3% | 1.6% |
每股收益（稀释后）AONFLR
| Q4 25 | $7.82 | $-9.40 | ||
| Q3 25 | $2.11 | $-4.30 | ||
| Q2 25 | $2.66 | $14.81 | ||
| Q1 25 | $4.43 | $-1.42 | ||
| Q4 24 | $3.11 | $10.68 | ||
| Q3 24 | $1.57 | $0.31 | ||
| Q2 24 | $2.46 | $0.97 | ||
| Q1 24 | $5.35 | $0.34 |
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 | $2.2B |
| 总债务越低越好 | $15.2B | — |
| 股东权益账面价值 | $9.4B | $3.2B |
| 总资产 | $50.8B | $8.2B |
| 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AONFLR
| Q4 25 | $2.8B | $2.2B | ||
| Q3 25 | $1.3B | $2.8B | ||
| Q2 25 | $1.4B | $2.3B | ||
| Q1 25 | $1.3B | $2.5B | ||
| Q4 24 | $1.3B | $3.0B | ||
| Q3 24 | $1.3B | $3.0B | ||
| Q2 24 | $1.2B | $2.7B | ||
| Q1 24 | $6.4B | $2.4B |
总债务AONFLR
| Q4 25 | $15.2B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $17.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AONFLR
| Q4 25 | $9.4B | $3.2B | ||
| Q3 25 | $7.9B | $5.2B | ||
| Q2 25 | $7.8B | $5.9B | ||
| Q1 25 | $7.0B | $3.6B | ||
| Q4 24 | $6.1B | $3.9B | ||
| Q3 24 | $6.2B | $2.3B | ||
| Q2 24 | $5.9B | $2.1B | ||
| Q1 24 | $-133.0M | $2.0B |
总资产AONFLR
| Q4 25 | $50.8B | $8.2B | ||
| Q3 25 | $51.6B | $11.5B | ||
| Q2 25 | $54.0B | $11.8B | ||
| Q1 25 | $50.3B | $8.4B | ||
| Q4 24 | $49.0B | $9.1B | ||
| Q3 24 | $49.9B | $7.1B | ||
| Q2 24 | $51.5B | $6.8B | ||
| Q1 24 | $40.8B | $6.7B |
负债/权益比AONFLR
| 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 | $-366.0M |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $-378.0M |
| 自由现金流率自由现金流/营收 | 30.8% | -9.1% |
| 资本支出强度资本支出/营收 | 1.7% | 0.3% |
| 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 | $-437.0M |
8季度趋势，按日历期对齐
经营现金流AONFLR
| Q4 25 | $1.4B | $-366.0M | ||
| Q3 25 | $1.1B | $286.0M | ||
| Q2 25 | $796.0M | $-21.0M | ||
| Q1 25 | $140.0M | $-286.0M | ||
| Q4 24 | $1.2B | $327.0M | ||
| Q3 24 | $1.0B | $330.0M | ||
| Q2 24 | $513.0M | $282.0M | ||
| Q1 24 | $309.0M | $-111.0M |
自由现金流AONFLR
| Q4 25 | $1.3B | $-378.0M | ||
| Q3 25 | $1.1B | $273.0M | ||
| Q2 25 | $732.0M | $-35.0M | ||
| Q1 25 | $84.0M | $-297.0M | ||
| Q4 24 | $1.1B | $296.0M | ||
| Q3 24 | $951.0M | $279.0M | ||
| Q2 24 | $460.0M | $234.0M | ||
| Q1 24 | $261.0M | $-145.0M |
自由现金流率AONFLR
| Q4 25 | 30.8% | -9.1% | ||
| Q3 25 | 27.0% | 8.1% | ||
| Q2 25 | 17.6% | -0.9% | ||
| Q1 25 | 1.8% | -7.5% | ||
| Q4 24 | 27.6% | 6.9% | ||
| Q3 24 | 25.6% | 6.8% | ||
| Q2 24 | 12.2% | 5.5% | ||
| Q1 24 | 6.4% | -3.9% |
资本支出强度AONFLR
| Q4 25 | 1.7% | 0.3% | ||
| Q3 25 | 1.7% | 0.4% | ||
| Q2 25 | 1.5% | 0.4% | ||
| Q1 25 | 1.2% | 0.3% | ||
| Q4 24 | 1.3% | 0.7% | ||
| Q3 24 | 1.7% | 1.2% | ||
| Q2 24 | 1.4% | 1.1% | ||
| Q1 24 | 1.2% | 0.9% |
现金转化率AONFLR
| Q4 25 | 0.83× | — | ||
| Q3 25 | 2.51× | — | ||
| Q2 25 | 1.37× | -0.01× | ||
| Q1 25 | 0.15× | — | ||
| Q4 24 | 1.68× | 0.18× | ||
| Q3 24 | 2.95× | 6.11× | ||
| Q2 24 | 0.98× | 1.67× | ||
| Q1 24 | 0.29× | -1.88× |
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% |
FLR
| Urban Solutions Segment | $2.6B | 63% |
| Energy Solutions Segment | $943.0M | 23% |
| Mission Solutions Segment | $600.0M | 14% |
