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怡安集团（AON）与Fidelity National Financial, Inc.（FNF）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Fidelity National Financial, Inc.的7.9倍（$4.3B vs $544.0M）。怡安集团净利率更高（39.4% vs -21.5%，领先60.9%）。Fidelity National Financial, Inc.同比增速更快（10.3% vs 3.7%）。过去两年Fidelity National Financial, Inc.的营收复合增速更高（13.7% 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。
富达国民金融是美国财富500强企业，主要面向房地产与抵押贷款行业提供产权保险及交割服务，2019年其产权及房地产业务相关年度营收约为84.69亿美元，是全球领先的产权保险服务供应商。
AON vs FNF — 直观对比
营收规模更大
AON
是对方的7.9倍
$544.0M
营收增速更快
FNF
高出6.7%
3.7%
净利率更高
AON
高出60.9%
-21.5%
两年增速更快
FNF
近两年复合增速
2.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $544.0M |
| 净利润 | $1.7B | $-117.0M |
| 毛利率 | — | — |
| 营业利润率 | 28.1% | 82.9% |
| 净利率 | 39.4% | -21.5% |
| 营收同比 | 3.7% | 10.3% |
| 净利润同比 | 136.5% | -126.0% |
| 每股收益（稀释后） | $7.82 | $-0.44 |
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AONFNF
| Q4 25 | $4.3B | $544.0M | ||
| Q3 25 | $4.0B | $553.0M | ||
| Q2 25 | $4.2B | $547.0M | ||
| Q1 25 | $4.7B | $455.0M | ||
| Q4 24 | $4.1B | $493.0M | ||
| Q3 24 | $3.7B | $506.0M | ||
| Q2 24 | $3.8B | $504.0M | ||
| Q1 24 | $4.1B | $421.0M |
净利润AONFNF
| Q4 25 | $1.7B | $-117.0M | ||
| Q3 25 | $458.0M | $358.0M | ||
| Q2 25 | $579.0M | $278.0M | ||
| Q1 25 | $965.0M | $83.0M | ||
| Q4 24 | $716.0M | $450.0M | ||
| Q3 24 | $343.0M | $266.0M | ||
| Q2 24 | $524.0M | $306.0M | ||
| Q1 24 | $1.1B | $248.0M |
营业利润率AONFNF
| Q4 25 | 28.1% | 82.9% | ||
| Q3 25 | 20.4% | 81.9% | ||
| Q2 25 | 20.7% | 69.8% | ||
| Q1 25 | 30.9% | 24.4% | ||
| Q4 24 | 26.3% | — | ||
| Q3 24 | 16.7% | 61.9% | ||
| Q2 24 | 17.4% | 90.9% | ||
| Q1 24 | 36.0% | 78.6% |
净利率AONFNF
| Q4 25 | 39.4% | -21.5% | ||
| Q3 25 | 11.5% | 64.7% | ||
| Q2 25 | 13.9% | 50.8% | ||
| Q1 25 | 20.4% | 18.2% | ||
| Q4 24 | 17.3% | 91.3% | ||
| Q3 24 | 9.2% | 52.6% | ||
| Q2 24 | 13.9% | 60.7% | ||
| Q1 24 | 26.3% | 58.9% |
每股收益（稀释后）AONFNF
| Q4 25 | $7.82 | $-0.44 | ||
| Q3 25 | $2.11 | $1.33 | ||
| Q2 25 | $2.66 | $1.02 | ||
| Q1 25 | $4.43 | $0.30 | ||
| Q4 24 | $3.11 | $1.65 | ||
| Q3 24 | $1.57 | $0.97 | ||
| Q2 24 | $2.46 | $1.12 | ||
| Q1 24 | $5.35 | $0.91 |
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 | $2.6B |
| 总债务越低越好 | $15.2B | $4.4B |
| 股东权益账面价值 | $9.4B | $7.4B |
| 总资产 | $50.8B | $109.0B |
| 负债/权益比越低杠杆越低 | 1.63× | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资AONFNF
| Q4 25 | $2.8B | $2.6B | ||
| Q3 25 | $1.3B | $3.5B | ||
| Q2 25 | $1.4B | $3.3B | ||
| Q1 25 | $1.3B | $4.5B | ||
| Q4 24 | $1.3B | $3.5B | ||
| Q3 24 | $1.3B | $5.0B | ||
| Q2 24 | $1.2B | $4.9B | ||
| Q1 24 | $6.4B | $3.5B |
总债务AONFNF
| Q4 25 | $15.2B | $4.4B | ||
| Q3 25 | — | $4.4B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | $17.0B | $4.3B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $3.9B |
股东权益AONFNF
| Q4 25 | $9.4B | $7.4B | ||
| Q3 25 | $7.9B | $8.4B | ||
| Q2 25 | $7.8B | $7.9B | ||
| Q1 25 | $7.0B | $7.9B | ||
| Q4 24 | $6.1B | $7.8B | ||
| Q3 24 | $6.2B | $8.1B | ||
| Q2 24 | $5.9B | $7.3B | ||
| Q1 24 | $-133.0M | $7.1B |
总资产AONFNF
| Q4 25 | $50.8B | $109.0B | ||
| Q3 25 | $51.6B | $106.6B | ||
| Q2 25 | $54.0B | $102.3B | ||
| Q1 25 | $50.3B | $98.2B | ||
| Q4 24 | $49.0B | $95.4B | ||
| Q3 24 | $49.9B | $94.7B | ||
| Q2 24 | $51.5B | $88.8B | ||
| Q1 24 | $40.8B | $84.5B |
负债/权益比AONFNF
| Q4 25 | 1.63× | 0.59× | ||
| Q3 25 | — | 0.53× | ||
| Q2 25 | — | 0.56× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | 2.78× | 0.56× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.58× | ||
| Q1 24 | — | 0.55× |
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 | $1.5B |
| 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× | — |
| 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AONFNF
| Q4 25 | $1.4B | $1.5B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $796.0M | $1.9B | ||
| Q1 25 | $140.0M | $1.1B | ||
| Q4 24 | $1.2B | $1.5B | ||
| Q3 24 | $1.0B | $2.4B | ||
| Q2 24 | $513.0M | $1.4B | ||
| Q1 24 | $309.0M | $1.6B |
自由现金流AONFNF
| 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AONFNF
| 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AONFNF
| 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AONFNF
| Q4 25 | 0.83× | — | ||
| Q3 25 | 2.51× | 3.66× | ||
| Q2 25 | 1.37× | 6.82× | ||
| Q1 25 | 0.15× | 13.43× | ||
| Q4 24 | 1.68× | 3.32× | ||
| Q3 24 | 2.95× | 8.89× | ||
| Q2 24 | 0.98× | 4.45× | ||
| Q1 24 | 0.29× | 6.42× |
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% |
FNF
| Escrow Fees | $241.0M | 44% |
| Other Title Related Fees And Income | $182.0M | 33% |
| Service Link Excluding Title Premiums Escrow Fees And Subservicing Fees | $87.0M | 16% |
| Insurance Contracts Home Warranty | $31.0M | 6% |
