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APA Corporation（APA）与Brown & Brown（BRO）财务数据对比。点击上方公司名可切换其他公司
APA Corporation的季度营收约是Brown & Brown的1.4倍（$2.2B vs $1.6B），Brown & Brown净利率更高（16.5% vs 15.0%，领先1.5%），Brown & Brown同比增速更快（35.8% vs -24.3%），过去两年Brown & Brown的营收复合增速更高（13.0% vs 1.4%）
APA Corporation是美国能源企业阿帕奇公司的控股主体，主要从事碳氢化合物资源勘探相关业务，在特拉华州注册成立，总部位于得克萨斯州休斯敦，是北美地区拥有丰富项目经验的能源勘探运营企业。
Brown & Brown是总部位于美国佛罗里达州代托纳比奇的保险经纪公司，是美国规模最大的独立保险中介机构之一，面向企业、政府机构、专业组织、行业协会及个人客户提供风险管理解决方案、保险产品及相关服务。
APA vs BRO — 直观对比
营收规模更大
APA
是对方的1.4倍
$1.6B
营收增速更快
BRO
高出60.2%
-24.3%
净利率更高
BRO
高出1.5%
15.0%
两年增速更快
BRO
近两年复合增速
1.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $1.6B |
| 净利润 | $331.0M | $265.0M |
| 毛利率 | — | — |
| 营业利润率 | 32.5% | — |
| 净利率 | 15.0% | 16.5% |
| 营收同比 | -24.3% | 35.8% |
| 净利润同比 | -22.1% | 26.8% |
| 每股收益（稀释后） | $0.79 | $0.55 |
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APABRO
| Q4 25 | $2.2B | $1.6B | ||
| Q3 25 | $2.3B | $1.6B | ||
| Q2 25 | $2.3B | $1.3B | ||
| Q1 25 | $2.7B | $1.4B | ||
| Q4 24 | $2.9B | $1.2B | ||
| Q3 24 | $2.7B | $1.2B | ||
| Q2 24 | $2.8B | $1.2B | ||
| Q1 24 | $2.1B | $1.3B |
净利润APABRO
| Q4 25 | $331.0M | $265.0M | ||
| Q3 25 | $205.0M | $227.0M | ||
| Q2 25 | $603.0M | $231.0M | ||
| Q1 25 | $418.0M | $331.0M | ||
| Q4 24 | $425.0M | $209.0M | ||
| Q3 24 | $-223.0M | $234.0M | ||
| Q2 24 | $541.0M | $257.0M | ||
| Q1 24 | $212.0M | $293.0M |
营业利润率APABRO
| Q4 25 | 32.5% | — | ||
| Q3 25 | 33.7% | — | ||
| Q2 25 | 31.8% | — | ||
| Q1 25 | 31.9% | — | ||
| Q4 24 | 31.4% | 23.3% | ||
| Q3 24 | -5.2% | 26.7% | ||
| Q2 24 | 34.4% | 29.4% | ||
| Q1 24 | 32.2% | 28.9% |
净利率APABRO
| Q4 25 | 15.0% | 16.5% | ||
| Q3 25 | 9.0% | 14.1% | ||
| Q2 25 | 26.0% | 18.0% | ||
| Q1 25 | 15.4% | 23.6% | ||
| Q4 24 | 14.6% | 17.7% | ||
| Q3 24 | -8.1% | 19.7% | ||
| Q2 24 | 19.0% | 21.8% | ||
| Q1 24 | 9.9% | 23.3% |
每股收益（稀释后）APABRO
| Q4 25 | $0.79 | $0.55 | ||
| Q3 25 | $0.57 | $0.68 | ||
| Q2 25 | $1.67 | $0.78 | ||
| Q1 25 | $0.96 | $1.15 | ||
| Q4 24 | $0.97 | $0.73 | ||
| Q3 24 | $-0.60 | $0.81 | ||
| Q2 24 | $1.46 | $0.90 | ||
| Q1 24 | $0.44 | $1.02 |
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 | $516.0M | $1.1B |
| 总债务越低越好 | $4.3B | $7.6B |
| 股东权益账面价值 | $6.1B | $12.6B |
| 总资产 | $17.8B | $30.0B |
| 负债/权益比越低杠杆越低 | 0.70× | 0.61× |
8季度趋势，按日历期对齐
现金及短期投资APABRO
| Q4 25 | $516.0M | $1.1B | ||
| Q3 25 | $475.0M | $1.2B | ||
| Q2 25 | $107.0M | $8.9B | ||
| Q1 25 | $67.0M | $669.0M | ||
| Q4 24 | $625.0M | $685.0M | ||
| Q3 24 | $64.0M | $968.0M | ||
| Q2 24 | $160.0M | $1.1B | ||
| Q1 24 | $102.0M | $591.0M |
总债务APABRO
| Q4 25 | $4.3B | $7.6B | ||
| Q3 25 | $4.3B | $7.7B | ||
| Q2 25 | $4.3B | $7.5B | ||
| Q1 25 | $5.2B | $3.8B | ||
| Q4 24 | $6.0B | $3.8B | ||
| Q3 24 | $6.4B | $3.6B | ||
| Q2 24 | $6.7B | $4.1B | ||
| Q1 24 | $5.2B | $3.9B |
股东权益APABRO
| Q4 25 | $6.1B | $12.6B | ||
| Q3 25 | $6.0B | $12.4B | ||
| Q2 25 | $5.9B | $11.6B | ||
| Q1 25 | $5.4B | $6.8B | ||
| Q4 24 | $5.3B | $6.4B | ||
| Q3 24 | $5.1B | $6.5B | ||
| Q2 24 | $5.4B | $6.0B | ||
| Q1 24 | $2.6B | $5.8B |
总资产APABRO
| Q4 25 | $17.8B | $30.0B | ||
| Q3 25 | $17.7B | $29.4B | ||
| Q2 25 | $18.1B | $25.6B | ||
| Q1 25 | $18.5B | $16.8B | ||
| Q4 24 | $19.4B | $17.6B | ||
| Q3 24 | $19.4B | $17.5B | ||
| Q2 24 | $20.2B | $15.9B | ||
| Q1 24 | $15.0B | $14.8B |
负债/权益比APABRO
| Q4 25 | 0.70× | 0.61× | ||
| Q3 25 | 0.72× | 0.62× | ||
| Q2 25 | 0.73× | 0.65× | ||
| Q1 25 | 0.96× | 0.56× | ||
| Q4 24 | 1.13× | 0.59× | ||
| Q3 24 | 1.25× | 0.55× | ||
| Q2 24 | 1.24× | 0.68× | ||
| Q1 24 | 1.99× | 0.67× |
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 | $808.0M | $444.0M |
| 自由现金流经营现金流 - 资本支出 | — | $424.0M |
| 自由现金流率自由现金流/营收 | — | 26.4% |
| 资本支出强度资本支出/营收 | — | 1.2% |
| 现金转化率经营现金流/净利润 | 2.44× | 1.68× |
| 过去12个月自由现金流最近4个季度 | — | $1.4B |
8季度趋势，按日历期对齐
经营现金流APABRO
| Q4 25 | $808.0M | $444.0M | ||
| Q3 25 | $1.5B | $468.0M | ||
| Q2 25 | $1.2B | $325.0M | ||
| Q1 25 | $1.1B | $213.0M | ||
| Q4 24 | $1.0B | $361.0M | ||
| Q3 24 | $1.3B | $440.0M | ||
| Q2 24 | $877.0M | $360.0M | ||
| Q1 24 | $368.0M | $13.0M |
自由现金流APABRO
| Q4 25 | — | $424.0M | ||
| Q3 25 | — | $452.0M | ||
| Q2 25 | — | $310.0M | ||
| Q1 25 | — | $196.0M | ||
| Q4 24 | — | $341.0M | ||
| Q3 24 | — | $417.0M | ||
| Q2 24 | — | $334.0M | ||
| Q1 24 | — | $0 |
自由现金流率APABRO
| Q4 25 | — | 26.4% | ||
| Q3 25 | — | 28.1% | ||
| Q2 25 | — | 24.1% | ||
| Q1 25 | — | 14.0% | ||
| Q4 24 | — | 28.8% | ||
| Q3 24 | — | 35.2% | ||
| Q2 24 | — | 28.4% | ||
| Q1 24 | — | 0.0% |
资本支出强度APABRO
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | — | 2.2% | ||
| Q1 24 | — | 1.0% |
现金转化率APABRO
| Q4 25 | 2.44× | 1.68× | ||
| Q3 25 | 7.12× | 2.06× | ||
| Q2 25 | 1.96× | 1.41× | ||
| Q1 25 | 2.62× | 0.64× | ||
| Q4 24 | 2.44× | 1.73× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | 1.62× | 1.40× | ||
| Q1 24 | 1.74× | 0.04× |
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
APA
| Oil And Gas Excluding Purchased | $1.7B | 76% |
| Oil And Gas Purchased | $323.0M | 15% |
| Oil Reserves | $114.0M | 5% |
| Other | $72.0M | 3% |
| Natural Gas Reserves | $30.0M | 1% |
BRO
| US | $1.4B | 87% |
| GB | $147.0M | 9% |
| Profit Sharing Contingent Commission Revenue | $33.0M | 2% |
| Other Supplemental Commissions Revenue | $25.0M | 2% |
