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怡安集团（AON）与IREN Ltd（IREN）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IREN Ltd的23.3倍（$4.3B vs $184.7M），怡安集团净利率更高（39.4% vs -84.1%，领先123.5%），IREN Ltd同比增速更快（59.0% vs 3.7%），怡安集团自由现金流更多（$1.3B vs $-468.0M）
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。
IREN Ltd是一家垂直整合的数据中心企业，依托可再生能源为比特币、人工智能等前沿领域发展提供算力支撑，旗下设施策略性布局于美国及加拿大境内可再生能源丰富、光纤网络完善的区域。
AON vs IREN — 直观对比
营收规模更大
AON
是对方的23.3倍
$184.7M
营收增速更快
IREN
高出55.3%
3.7%
净利率更高
AON
高出123.5%
-84.1%
自由现金流更多
AON
多$1.8B
$-468.0M
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $184.7M |
| 净利润 | $1.7B | $-155.4M |
| 毛利率 | — | 64.4% |
| 营业利润率 | 28.1% | -63.0% |
| 净利率 | 39.4% | -84.1% |
| 营收同比 | 3.7% | 59.0% |
| 净利润同比 | 136.5% | -610.0% |
| 每股收益（稀释后） | $7.82 | $-0.52 |
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AONIREN
| Q4 25 | $4.3B | $184.7M | ||
| Q3 25 | $4.0B | $240.3M | ||
| Q2 25 | $4.2B | — | ||
| Q1 25 | $4.7B | — | ||
| Q4 24 | $4.1B | $116.1M | ||
| Q3 24 | $3.7B | $52.8M | ||
| Q2 24 | $3.8B | — | ||
| Q1 24 | $4.1B | $54.3M |
净利润AONIREN
| Q4 25 | $1.7B | $-155.4M | ||
| Q3 25 | $458.0M | $384.6M | ||
| Q2 25 | $579.0M | — | ||
| Q1 25 | $965.0M | — | ||
| Q4 24 | $716.0M | $-21.9M | ||
| Q3 24 | $343.0M | $-51.7M | ||
| Q2 24 | $524.0M | — | ||
| Q1 24 | $1.1B | $8.6M |
毛利率AONIREN
| Q4 25 | — | 64.4% | ||
| Q3 25 | — | 66.4% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 72.2% | ||
| Q3 24 | — | 39.6% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率AONIREN
| Q4 25 | 28.1% | -63.0% | ||
| Q3 25 | 20.4% | -31.8% | ||
| Q2 25 | 20.7% | — | ||
| Q1 25 | 30.9% | — | ||
| Q4 24 | 26.3% | 14.9% | ||
| Q3 24 | 16.7% | -89.2% | ||
| Q2 24 | 17.4% | — | ||
| Q1 24 | 36.0% | 11.1% |
净利率AONIREN
| Q4 25 | 39.4% | -84.1% | ||
| Q3 25 | 11.5% | 160.1% | ||
| Q2 25 | 13.9% | — | ||
| Q1 25 | 20.4% | — | ||
| Q4 24 | 17.3% | -18.8% | ||
| Q3 24 | 9.2% | -98.0% | ||
| Q2 24 | 13.9% | — | ||
| Q1 24 | 26.3% | 15.9% |
每股收益（稀释后）AONIREN
| Q4 25 | $7.82 | $-0.52 | ||
| Q3 25 | $2.11 | $1.08 | ||
| Q2 25 | $2.66 | — | ||
| Q1 25 | $4.43 | — | ||
| Q4 24 | $3.11 | $-0.10 | ||
| Q3 24 | $1.57 | $-0.27 | ||
| Q2 24 | $2.46 | — | ||
| Q1 24 | $5.35 | $0.00 |
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 | $3.3B |
| 总债务越低越好 | $15.2B | — |
| 股东权益账面价值 | $9.4B | $2.5B |
| 总资产 | $50.8B | $7.0B |
| 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AONIREN
| Q4 25 | $2.8B | $3.3B | ||
| Q3 25 | $1.3B | $1.0B | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | $427.3M | ||
| Q3 24 | $1.3B | $98.6M | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $6.4B | $259.7M |
总债务AONIREN
| Q4 25 | $15.2B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $17.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AONIREN
| Q4 25 | $9.4B | $2.5B | ||
| Q3 25 | $7.9B | $2.9B | ||
| Q2 25 | $7.8B | — | ||
| Q1 25 | $7.0B | — | ||
| Q4 24 | $6.1B | $1.2B | ||
| Q3 24 | $6.2B | $1.1B | ||
| Q2 24 | $5.9B | — | ||
| Q1 24 | $-133.0M | $677.2M |
总资产AONIREN
| Q4 25 | $50.8B | $7.0B | ||
| Q3 25 | $51.6B | $4.3B | ||
| Q2 25 | $54.0B | — | ||
| Q1 25 | $50.3B | — | ||
| Q4 24 | $49.0B | $1.9B | ||
| Q3 24 | $49.9B | $1.3B | ||
| Q2 24 | $51.5B | — | ||
| Q1 24 | $40.8B | $723.6M |
负债/权益比AONIREN
| 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 | $71.7M |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $-468.0M |
| 自由现金流率自由现金流/营收 | 30.8% | -253.4% |
| 资本支出强度资本支出/营收 | 1.7% | 292.2% |
| 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 | $-701.2M |
8季度趋势，按日历期对齐
经营现金流AONIREN
| Q4 25 | $1.4B | $71.7M | ||
| Q3 25 | $1.1B | $142.4M | ||
| Q2 25 | $796.0M | — | ||
| Q1 25 | $140.0M | — | ||
| Q4 24 | $1.2B | $53.6M | ||
| Q3 24 | $1.0B | $-3.9M | ||
| Q2 24 | $513.0M | — | ||
| Q1 24 | $309.0M | $-27.1M |
自由现金流AONIREN
| Q4 25 | $1.3B | $-468.0M | ||
| Q3 25 | $1.1B | $-38.0M | ||
| Q2 25 | $732.0M | — | ||
| Q1 25 | $84.0M | — | ||
| Q4 24 | $1.1B | $-85.5M | ||
| Q3 24 | $951.0M | $-109.7M | ||
| Q2 24 | $460.0M | — | ||
| Q1 24 | $261.0M | $-108.3M |
自由现金流率AONIREN
| Q4 25 | 30.8% | -253.4% | ||
| Q3 25 | 27.0% | -15.8% | ||
| Q2 25 | 17.6% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 27.6% | -73.6% | ||
| Q3 24 | 25.6% | -208.0% | ||
| Q2 24 | 12.2% | — | ||
| Q1 24 | 6.4% | -199.4% |
资本支出强度AONIREN
| Q4 25 | 1.7% | 292.2% | ||
| Q3 25 | 1.7% | 75.0% | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 1.3% | 119.7% | ||
| Q3 24 | 1.7% | 200.6% | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 1.2% | 149.5% |
现金转化率AONIREN
| Q4 25 | 0.83× | — | ||
| Q3 25 | 2.51× | 0.37× | ||
| Q2 25 | 1.37× | — | ||
| Q1 25 | 0.15× | — | ||
| Q4 24 | 1.68× | — | ||
| Q3 24 | 2.95× | — | ||
| Q2 24 | 0.98× | — | ||
| Q1 24 | 0.29× | -3.13× |
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% |
IREN
| Bitcoin Mining Revenue | $167.4M | 91% |
| AI Cloud Services | $17.3M | 9% |
