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怡安集团（AON）与SSR MINING INC.（SSRM）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SSR MINING INC.的8.2倍（$4.3B vs $521.7M）。怡安集团净利率更高（39.4% vs 34.8%，领先4.6%）。SSR MINING INC.同比增速更快（61.4% vs 3.7%）。怡安集团自由现金流更多（$1.3B vs $106.4M）。过去两年SSR MINING INC.的营收复合增速更高（50.5% 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。
SSR Mining Inc.（前身为白银标准资源公司）总部位于美国科罗拉多州丹佛，主营金、银、铜、铅、锌矿产开采，拥有阿根廷最大的银矿，同时在美洲全境及土耳其开展矿产勘探业务。2020年与阿拉瑟黄金合并后迁至丹佛，现任总裁兼首席执行官为罗德尼·P·安塔尔。
AON vs SSRM — 直观对比
营收规模更大
AON
是对方的8.2倍
$521.7M
营收增速更快
SSRM
高出57.7%
3.7%
净利率更高
AON
高出4.6%
34.8%
自由现金流更多
AON
多$1.2B
$106.4M
两年增速更快
SSRM
近两年复合增速
2.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $521.7M |
| 净利润 | $1.7B | $181.5M |
| 毛利率 | — | — |
| 营业利润率 | 28.1% | 38.8% |
| 净利率 | 39.4% | 34.8% |
| 营收同比 | 3.7% | 61.4% |
| 净利润同比 | 136.5% | 3166.6% |
| 每股收益（稀释后） | $7.82 | $0.84 |
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AONSSRM
| Q4 25 | $4.3B | $521.7M | ||
| Q3 25 | $4.0B | $385.8M | ||
| Q2 25 | $4.2B | $405.5M | ||
| Q1 25 | $4.7B | $316.6M | ||
| Q4 24 | $4.1B | $323.2M | ||
| Q3 24 | $3.7B | $257.4M | ||
| Q2 24 | $3.8B | $184.8M | ||
| Q1 24 | $4.1B | $230.2M |
净利润AONSSRM
| Q4 25 | $1.7B | $181.5M | ||
| Q3 25 | $458.0M | $65.4M | ||
| Q2 25 | $579.0M | $90.1M | ||
| Q1 25 | $965.0M | $58.8M | ||
| Q4 24 | $716.0M | $5.6M | ||
| Q3 24 | $343.0M | $10.6M | ||
| Q2 24 | $524.0M | $9.7M | ||
| Q1 24 | $1.1B | $-287.1M |
营业利润率AONSSRM
| Q4 25 | 28.1% | 38.8% | ||
| Q3 25 | 20.4% | 21.6% | ||
| Q2 25 | 20.7% | 26.9% | ||
| Q1 25 | 30.9% | 21.1% | ||
| Q4 24 | 26.3% | 10.6% | ||
| Q3 24 | 16.7% | 3.5% | ||
| Q2 24 | 17.4% | 5.8% | ||
| Q1 24 | 36.0% | -163.5% |
净利率AONSSRM
| Q4 25 | 39.4% | 34.8% | ||
| Q3 25 | 11.5% | 17.0% | ||
| Q2 25 | 13.9% | 22.2% | ||
| Q1 25 | 20.4% | 18.6% | ||
| Q4 24 | 17.3% | 1.7% | ||
| Q3 24 | 9.2% | 4.1% | ||
| Q2 24 | 13.9% | 5.2% | ||
| Q1 24 | 26.3% | -124.7% |
每股收益（稀释后）AONSSRM
| Q4 25 | $7.82 | $0.84 | ||
| Q3 25 | $2.11 | $0.31 | ||
| Q2 25 | $2.66 | $0.42 | ||
| Q1 25 | $4.43 | $0.28 | ||
| Q4 24 | $3.11 | $0.03 | ||
| Q3 24 | $1.57 | $0.05 | ||
| Q2 24 | $2.46 | $0.05 | ||
| Q1 24 | $5.35 | $-1.42 |
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 | $575.6M |
| 总债务越低越好 | $15.2B | — |
| 股东权益账面价值 | $9.4B | $3.5B |
| 总资产 | $50.8B | $6.1B |
| 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AONSSRM
| Q4 25 | $2.8B | $575.6M | ||
| Q3 25 | $1.3B | $445.4M | ||
| Q2 25 | $1.4B | $438.5M | ||
| Q1 25 | $1.3B | $341.3M | ||
| Q4 24 | $1.3B | $417.3M | ||
| Q3 24 | $1.3B | $365.8M | ||
| Q2 24 | $1.2B | $384.4M | ||
| Q1 24 | $6.4B | $492.0M |
总债务AONSSRM
| Q4 25 | $15.2B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $17.0B | $228.6M | ||
| Q3 24 | — | $228.3M | ||
| Q2 24 | — | $228.0M | ||
| Q1 24 | — | $228.7M |
股东权益AONSSRM
| Q4 25 | $9.4B | $3.5B | ||
| Q3 25 | $7.9B | $3.3B | ||
| Q2 25 | $7.8B | $3.3B | ||
| Q1 25 | $7.0B | $3.2B | ||
| Q4 24 | $6.1B | $3.1B | ||
| Q3 24 | $6.2B | $3.1B | ||
| Q2 24 | $5.9B | $3.1B | ||
| Q1 24 | $-133.0M | $3.1B |
总资产AONSSRM
| Q4 25 | $50.8B | $6.1B | ||
| Q3 25 | $51.6B | $5.9B | ||
| Q2 25 | $54.0B | $5.8B | ||
| Q1 25 | $50.3B | $5.6B | ||
| Q4 24 | $49.0B | $5.2B | ||
| Q3 24 | $49.9B | $5.1B | ||
| Q2 24 | $51.5B | $5.2B | ||
| Q1 24 | $40.8B | $5.3B |
负债/权益比AONSSRM
| Q4 25 | 1.63× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.78× | 0.07× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.07× | ||
| Q1 24 | — | 0.07× |
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 | $172.1M |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $106.4M |
| 自由现金流率自由现金流/营收 | 30.8% | 20.4% |
| 资本支出强度资本支出/营收 | 1.7% | 12.6% |
| 现金转化率经营现金流/净利润 | 0.83× | 0.95× |
| 过去12个月自由现金流最近4个季度 | $3.2B | $241.6M |
8季度趋势，按日历期对齐
经营现金流AONSSRM
| Q4 25 | $1.4B | $172.1M | ||
| Q3 25 | $1.1B | $57.2M | ||
| Q2 25 | $796.0M | $157.8M | ||
| Q1 25 | $140.0M | $84.8M | ||
| Q4 24 | $1.2B | $95.0M | ||
| Q3 24 | $1.0B | $-1.3M | ||
| Q2 24 | $513.0M | $-78.1M | ||
| Q1 24 | $309.0M | $24.6M |
自由现金流AONSSRM
| Q4 25 | $1.3B | $106.4M | ||
| Q3 25 | $1.1B | $-2.4M | ||
| Q2 25 | $732.0M | $98.4M | ||
| Q1 25 | $84.0M | $39.3M | ||
| Q4 24 | $1.1B | $56.4M | ||
| Q3 24 | $951.0M | $-34.1M | ||
| Q2 24 | $460.0M | $-116.3M | ||
| Q1 24 | $261.0M | $-9.4M |
自由现金流率AONSSRM
| Q4 25 | 30.8% | 20.4% | ||
| Q3 25 | 27.0% | -0.6% | ||
| Q2 25 | 17.6% | 24.3% | ||
| Q1 25 | 1.8% | 12.4% | ||
| Q4 24 | 27.6% | 17.5% | ||
| Q3 24 | 25.6% | -13.2% | ||
| Q2 24 | 12.2% | -62.9% | ||
| Q1 24 | 6.4% | -4.1% |
资本支出强度AONSSRM
| Q4 25 | 1.7% | 12.6% | ||
| Q3 25 | 1.7% | 15.4% | ||
| Q2 25 | 1.5% | 14.7% | ||
| Q1 25 | 1.2% | 14.4% | ||
| Q4 24 | 1.3% | 11.9% | ||
| Q3 24 | 1.7% | 12.7% | ||
| Q2 24 | 1.4% | 20.7% | ||
| Q1 24 | 1.2% | 14.8% |
现金转化率AONSSRM
| Q4 25 | 0.83× | 0.95× | ||
| Q3 25 | 2.51× | 0.87× | ||
| Q2 25 | 1.37× | 1.75× | ||
| Q1 25 | 0.15× | 1.44× | ||
| Q4 24 | 1.68× | 17.10× | ||
| Q3 24 | 2.95× | -0.13× | ||
| Q2 24 | 0.98× | -8.06× | ||
| Q1 24 | 0.29× | — |
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% |
SSRM
| Gold | $369.3M | 71% |
| Concentrate Sales | $124.4M | 24% |
| Other | $19.1M | 4% |
| Lead | $9.0M | 2% |
